Trading activity on the Ghana Stock Exchange (GSE) rose sharply in the week ended July 31, 2026, with the value of shares traded increasing by 251 per cent to GH¢168.92 million, largely driven by transactions in MTN Ghana.
The volume of shares traded also climbed significantly by 158.2 per cent to 29.73 million shares, up from 11.51 million shares the previous week, while turnover surged from GH¢48.12 million.
The strong trading activity pushed the GSE Composite Index up by 0.68 per cent to close at 15,434.87 points.
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However, the GSE Financial Stocks Index dipped by 0.52 per cent to 8,238.07 points, reflecting weaker price performance among some listed banks and financial institutions.
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Market capitalisation inched up by 0.16 per cent to GH¢292.51 billion, from GH¢292.06 billion recorded the previous week.
From the beginning of the year, the Composite Index and the Financial Stocks Index have gained 75.99 per cent and 77.27 per cent respectively.
MTN Ghana dominated trading activity by a wide margin, generating GH¢131.26 million from 18.58 million shares.
The telecommunications firm accounted for about 77.7 per cent of the total value traded and 62.5 per cent of total volume for the week.
The broader information and communications technology (ICT) sector contributed 77.79 per cent of total turnover, underlining the heavy concentration of trading in a single stock and sector.
The financial sector followed distantly, recording GH¢24.68 million in turnover. Manufacturing stocks generated GH¢5.02 million, while the food and beverage sector accounted for GH¢4.99 million.
Other sectors, including insurance, distribution, exchange-traded funds, mining and agriculture, contributed only marginally to overall activity.
GCB Bank ranked second in terms of value traded, posting GH¢20.25 million. It was followed by Intravenous Infusions Limited with GH¢4.98 million, Kasapreko with GH¢4.68 million, and Ecobank Ghana with GH¢1.71 million.
In terms of volume, Intravenous Infusions Limited trailed MTN Ghana with 5.66 million shares traded. Kasapreko recorded 2.33 million shares, CAL Bank traded 1.25 million shares, while Ecobank Transnational Incorporated posted 597,544 shares.
Despite the strong headline figures, the market remained highly concentrated. MTN Ghana and GCB Bank together accounted for nearly 90 per cent of the total value traded during the week.
Trading activity peaked on Wednesday, July 29, which recorded GH¢121.57 million from 18.39 million shares.
This represented about 71.97 per cent of the week's total turnover.
Daily turnover fell to GH¢24.66 million on Thursday and further to GH¢7.50 million on Friday. Market capitalisation reached a high of GH¢293.18 billion on Thursday before closing the week at GH¢292.51 billion.
On the price movement front, HORDS emerged as the biggest gainer, rising by 50 per cent from GH¢0.26 to GH¢0.39. Its year-to-date return now stands at 290 per cent.
Intravenous Infusions Limited gained 27.27 per cent to close at GH¢0.84 and remains the best-performing stock so far this year, with a return of 1,580 per cent.
Other gainers included Cocoa Processing Company, which rose by 6.25 per cent, and Clydestone Ghana, which gained 5.56 per cent. MTN Ghana also appreciated by 2 per cent to GH¢7.14, while Ecobank Ghana added 1.77 per cent to close at GH¢39.00.
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On the downside, Atlantic Lithium recorded the biggest loss, shedding 9 per cent to close at GH¢6.37.
SIC Insurance declined by 4.33 per cent, Societe Generale Ghana fell by 2.86 per cent, Republic Bank Ghana dropped by 2.78 per cent, and Ecobank Transnational Incorporated lost 2.03 per cent.
Other decliners included CAL Bank, Kasapreko, Guinness Ghana and TotalEnergies Ghana. Overall, the average price movement of stocks that recorded changes was a gain of 4.64 per cent.
The week's performance reflects sustained investor interest in equities, with the GSE Composite Index continuing its strong upward trend in 2026, although trading remains heavily concentrated in a few dominant stocks.
