MTNGH hits new high of GH¢6.59 as GCB Bank records GH¢2.71 gain

The Ghana Stock Exchange (GSE) closed the penultimate session of the week on a strong note, with the GSE Composite Index adding another 172.12 points to reach 14,934.57. That marks the fourth consecutive session of gains, pushing the year-to-date return past 70 per cent.

Market capitalisation also climbed further, rising from GH¢278.31 billion on Wednesday to GH¢280.24 billion, reflecting sustained investor confidence even as total traded volume eased to 1.85 million shares and value traded dipped to GH¢9.9 million.

GCB Bank continued its spectacular week-long rally, adding another GH¢2.71 to close at GH¢44.98. The tier-one lender has now gained nearly 30 per cent over four sessions, and investors are showing no signs of slowing down. Over GH¢2.38 million worth of GCB shares changed hands, making it the second most valuable trade of the day.

MTNGH also extended its winning streak, climbing GH¢0.07 to close at GH¢6.59, a new all-time high. The telecom giant recorded over GH¢4.91 million in traded value, the highest of any stock on the day, as buyers continued to pile into Ghana's most valuable listed company.

ZEN Petroleum Holdings made headlines again, jumping GH¢0.50 to close at GH¢5.55. That represents a nearly 10 percent gain for the newly listed energy company, which continues to attract strong interest from investors.

Other notable gainers included Republic Bank, which rose GH¢0.37 to GH¢5.09, SIC Insurance, which added GH¢0.33 to GH¢5.14, and DASPHARMA, which inched up GH¢0.01 to GH¢0.41.

On the losing side, Fan Milk fell GH¢0.30 to close at GH¢12.20, making it the biggest loser in absolute terms. Enterprise Group dropped GH¢0.12 to GH¢11.08, while Benso Palm Plantation shed GH¢0.86 to close at GH¢85. Ecobank Ghana also declined marginally, losing GH¢0.01 to GH¢48.89.

In the alternative market, activity picked up noticeably. Hords saw nearly 130,000 shares change hands, while Intravenous Infusions recorded 145,000 shares traded, though both stocks remained flat in price.

Gainers for the day: GCB Bank, MTNGH, ZEN Petroleum, Republic Bank, SIC Insurance, DASPHARMA.

Laggards for the day: Fan Milk, Enterprise Group, Benso Palm Plantation, Ecobank Ghana.

The market heads into the final session of the week with strong momentum. If GCB and MTNGH continue their buying frenzy, the GSE Composite Index could test the 15,000-point level by Friday's close.