The GSE Composite Index (GSE-CI) closed Q1 2026 at 2,847.30, up 14.2% from 2,493.50 at end-2025. The GSE Financial Stock Index (GSE-FSI) gained 12.8% over the same period.

Top Performers Q1 2026

  • Standard Chartered Bank Ghana (SCB): +22.4% — driven by strong FY2025 earnings and higher-than-expected dividend.
  • MTN Ghana (MTNGH): +18.7% — subscriber growth and mobile money revenue expansion.
  • GCB Bank (GCB): +14.1% — improved asset quality and higher net interest margins.
  • Ecobank Ghana (EGH): +13.9% — pan-African revenue diversification positive.

Underperformers

  • Fan Milk (FML): -8.2% — input cost pressures and weaker consumer spending.
  • PBC Ltd (PBC): -5.1% — continued challenges in agricultural commodity pricing.

Market Outlook

Analysts at IC Securities and Databank Research expect the GSE-CI to end 2026 in the range of 3,100–3,400, representing a further 9–19% upside from current levels. Key catalysts include continued cedi stabilisation, declining inflation, and corporate earnings recovery.

Foreign investor participation remains muted (below 5% of daily trades) — a potential catalyst if macroeconomic stability improves.