Ghana Stock Exchange (GSE) October 2025 Report: 15 Top Gainers, 76% YTD Financial Stocks Surge

Discover how the GSE solidified its position as a leading African stock market in 2025 with robust gains in key indices and high trading volumes.

Introduction

The Ghana Stock Exchange (GSE) continues to shine as one of Africa’s top-performing stock markets in 2025. According to the official October 2025 market report, 15 shares posted significant gains, underscoring strong investor confidence. The GSE Financial Stock Index (GSE-FSI) reached an impressive year-to-date (YTD) return of 76.16%, while the GSE Composite Index (GSE-CI) advanced to 71.53% YTD. This GSE October 2025 performance highlights sustained growth in equities and fixed income segments, making it essential reading for investors tracking Ghana Stock Exchange returns.

In this pedagogical guide, we break down the data step-by-step, explaining key terms like the GSE-CI—a benchmark tracking all listed equities—and the GSE-FSI, which focuses on financial stocks. Whether you’re a beginner learning about stock market indices or a seasoned trader analyzing top performing shares GSE 2025, this article provides verifiable insights from the official report.

Analysis

Top Gainers on the GSE

Out of the actively traded shares, 15 recorded notable price appreciations in October 2025, positioning the GSE as a vibrant market. Leading the pack was Clydestone (Ghana) PLC with a 64.71% gain, followed closely by Societe Generale Ghana PLC at 63.94%. Other strong performers included Fan Milk PLC (49.53%), Cocoa Processing Company PLC (33.33%), and Ecobank Ghana PLC (28.67%).

The full list of top gainers comprises:

• Guinness Ghana Breweries PLC (20.66%)
• GCB Bank PLC (20.35%)
• SIC Insurance Company PLC (14.29%)
• Ghana Oil Company PLC (9.66%)
• TotalEnergies Marketing Ghana PLC (9.46%)
• Ecobank Transnational Inc. (8.79%)
• Enterprise Group PLC (7.81%)
• Republic Bank (Ghana) PLC (5.04%)
• Standard Chartered Bank Ghana PLC (3.89%)
• Benso Palm Plantation PLC (3.15%)

These gains reflect diverse sectors, from banking and insurance to consumer goods and agriculture, demonstrating broad-based market strength.

Decliners and Market Balance

While gainers dominated, six shares experienced declines. CalBank PLC led the losers with a -23.44% drop, followed by NewGold (-6.48%), Scancom PLC (-3.45%), Mega African Capital PLC (-3.35%), Unilever Ghana PLC (-1.00%), and Access Bank Ghana PLC (-0.86%). This mix illustrates the natural volatility in stock markets, where not all assets move in unison.

GSE Indices Performance

The GSE-CI rose 2.66% in October, closing at 8,385.35 points, with YTD gains at 71.53%. Meanwhile, the GSE-FSI surged 10.39% to 4,193.90 points, achieving a remarkable 76.16% YTD return. These indices serve as barometers for overall market health: the GSE-CI covers all equities, while the GSE-FSI emphasizes banks, insurers, and financial institutions.

Equities Trading Volume and Value

October saw 44.12 million shares traded, valued at GHS 217.21 million. Compared to September, volume dipped 4.04%, but value increased 14.75%, indicating higher average trade sizes and quality investments.

Ghana Fixed Income Market (GFIM) Breakdown

Activity on the GFIM was robust, with total traded volume at 29.13 billion—up 4.66% from September’s 27.83 billion and 77.23% higher year-on-year. YTD volume reached 214.14 billion, a 58.39% improvement over the prior year’s 135.19 billion.

Instrument breakdown:

• Treasury Bills: 44.31%
• Government Notes and Bonds: 42.60%
• Bank of Ghana Bills: 11.72%
• Corporate Bonds: 1.37%

This distribution shows fixed income’s role in providing stable returns amid equity volatility.

Summary

In summary, the GSE October 2025 report reveals a dynamic market with 15 gainers driving indices higher, equities trading at elevated values, and GFIM volumes expanding significantly. The GSE-FSI’s 76.16% YTD return cements its status among Africa’s best, fueled by investor optimism.

Key Points

Practical Advice

For aspiring GSE investors, start by opening a brokerage account with GSE-licensed firms. Diversify across top performers like banks (e.g., GCB Bank PLC) and consumer stocks (e.g., Fan Milk PLC). Monitor indices via the official GSE website for real-time GSE-CI and GSE-FSI data.

Steps to Invest in GSE Shares

1. Research via GSE monthly reports for top performing shares GSE.
2. Use Central Securities Depository (CSD) accounts for secure trading.
3. Track YTD returns to gauge long-term trends.
4. Consider fixed income for lower risk, like Treasury Bills at 44.31% of GFIM volume.

Pedagogically, understand that share price gains (e.g., 64.71% for Clydestone) compound with dividends, enhancing total returns.

Points of Caution

Stock markets involve risks: CalBank’s -23.44% decline shows potential losses. Volumes can fluctuate (e.g., -4.04% MoM in equities). Always invest what you can afford to lose, and note past performance, like 76% YTD, does not guarantee future results. Currency risks in GHS-denominated trades apply for foreign investors.

Comparison

Month-on-Month (MoM) vs. Year-on-Year (YoY)

GFIM volume grew 4.66% MoM but exploded 77.23% YoY, signaling accelerating participation. Equities value rose 14.75% MoM despite volume dip, contrasting September’s levels.

YTD Benchmarks

GSE-FSI’s 76.16% YTD dwarfs many peers, with GSE-CI at 71.53%. Fixed income YTD volume +58.39% vs. last year highlights sustained growth.

Legal Implications

Investing on the GSE requires compliance with the Securities Industry Act, 2016 (Act 929). All trades must go through licensed brokers, and disclosures are mandatory. The report includes a disclaimer: views expressed do not represent the publisher’s policy. Verify data independently; no legal advice is provided here.

Conclusion

The GSE October 2025 report paints a bullish picture, with 15 gainers, soaring indices, and booming fixed income activity affirming its African leadership. As YTD returns hit 76% for financial stocks, the market offers opportunities for informed investors. Stay updated on GSE performance for strategic decisions.

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