Ghana and Nigeria stock markets show divergent trading trends

West African stock markets have shown divergent trends in recent trading sessions. On the Ghana Stock Exchange (GSE), trading turnover saw a significant surge, with weekly value increasing by 35.60 per cent to GH¢141.88m. However, this liquidity was heavily concentrated in the ICT sector, specifically MTN Ghana, which accounted for approximately 91.50 per cent of weekly turnover. Despite the increased activity, the GSE Composite Index and the Financial Stocks Index both experienced declines.

In Nigeria, the Nigerian Exchange (NGX) experienced a rebound, with the All-Share Index gaining 0.13 per cent to close at 248,363.55 points, adding N209 billion to market capitalization. This recovery followed a period of selling pressure and was driven by small-cap stocks and heavyweight performers like Zenith Bank. However, market breadth remained mixed, with more decliners than gainers in several sessions.

Meanwhile, the NASD Over-the-Counter (OTC) Securities Exchange saw its index decline by 33.41 points, though trading volume and value increased during the final session of the week.