GSE sustains bullish run as equity market gains 63% in October

The Ghana Stock Exchange (GSE) maintained its strong bullish momentum in October 2026, with the GSE Composite Index recording a year-to-date return of 63.08 per cent, while the GSE Financial Stock Index posted a return of 58.98 per cent.

The positive performance was supported by increased investor activity, with 88,630 transactions recorded during the month, representing a 59.07 per cent increase over the corresponding period last year.

Market data showed that 68.62 million shares, valued at GH¢345.23 million, were traded during October, representing year-on-year increases of 55.52 per cent in volume and 58.94 per cent in value.

On a year-to-date basis, cumulative trading volume reached 1.12 billion shares, valued at GH¢5.68 billion, representing increases of 74.37 per cent in volume and 73.66 per cent in value compared with the same period in 2025.

Cocoa Processing Company PLC emerged as the biggest gainer for the month, appreciating by 35.71 per cent, followed by Meridian Marshalls Holdings Company, which gained 16.67 per cent.

Enterprise Group PLC advanced by 14.29 per cent, while TotalEnergies Marketing Ghana PLC recorded a 13.22 per cent increase. AngloGold Ashanti Depositary Shares, CalBank PLC and GCB Bank PLC also gained 9.52 per cent, 5.71 per cent and 5.20 per cent, respectively.

Other notable gainers included SIC Insurance Company PLC, HORDS PLC and Scancom PLC, which appreciated by 4.17 per cent, 4.17 per cent and 3.85 per cent, respectively.

However, Dannex Ayrton Starwin PLC emerged as the biggest loser, declining by 19.13 per cent, followed by Digicut Production and Advertising PLC, which shed 17.02 per cent. Ecobank Transnational Incorporated also declined by 16.76 per cent, while Societe Generale Ghana PLC lost 10.62 per cent.

On the fixed income market, trading on the Ghana Fixed Income Market (GFIM) also recorded significant growth, with total trading volume reaching GH¢48.13 billion in October.

That represented a 65.25 per cent increase over the GH¢29.13 billion recorded during the corresponding period in 2025 and an approximately 45 per cent rise compared with the previous month.

Cumulative fixed income trading volume for the first 10 months of 2026 stood at GH¢385.93 billion, compared with GH¢214.14 billion recorded during the same period last year, representing an increase of 80.23 per cent.

A major development during the month was the debut of Cocoa Capital PLC on the GFIM on October 14, 2026.

The company’s GH¢16.3 billion debt programme was admitted to the Ghana Stock Exchange, with the first series of its Commercial Paper Programme, amounting to GH¢3.39 billion, officially listed.

The listing is expected to broaden investment opportunities and deepen Ghana’s domestic capital market.

The GSE said October’s overall performance signalled the resilience of Ghana’s capital market, with increased trading activity and positive equity returns reinforcing investor participation and confidence.

It explained that the sustained growth in both equity and fixed income activities also underscored the importance of deepening the capital market to support investment mobilisation and economic development.

Read the Ghanaian Times and The Spectator newspapers from the comfort of your device via TimesNewsPlus.

Follow our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q