Ghana’s stock market opened 2026 on a strong note, posting gains across key sectors like telecommunications, banking, and insurance. By January 28, the GSE Composite Index (the main benchmark that tracks the overall performance of the GSE) had risen to 8,997.05 points, up 2.59% since the start of the year.
The DSI 20 index (tracks the performance of the 20 most actively traded and liquid stocks on the GSE) also climbed, reaching 423.47 points, a gain of 4.35%.
The standout story of the month was MTN Ghana. Trading activity in the telecom giant was massive, accounting for nearly 98% of all market turnover. Investors traded 28.24 million MTN shares, worth about GHS 118.6 million, far more than all other stocks combined. MTN’s heavy trading helped give the market a strong boost, showing just how much one company can influence overall market performance.
Other Gainers and Sector Highlights
While MTN dominated trading, other sectors also pushed the market higher:
• Banking: Cal Bank (CAL) led the sector with a 5.56% increase, trading over 2 million shares, while Ecobank Ghana (EGH) added a small gain of 0.14%.
• Insurance: Enterprise Group PLC (EGL) rose slightly by 0.28%.
• Agro-Processing: Benso Palm Plantation (BOPP) edged up 0.06%.
• Laggard: TotalEnergies Marketing Ghana (TOTAL) was the only major stock to fall, dipping 0.07%.
The market’s positive start to 2026 came on the back of strong trading and a healthier economic environment. Consumer inflation fell to 5.40% in December 2025, giving investors more confidence. Combined with strong performance from big names like MTN Ghana and Cal Bank, this helped push the stock indices higher.
