The Ghana Stock Exchange Composite Index (GSE-CI) plunged by 354.10 points last week, closing at 6,353.54, a sharp 5.28% week-on-week decline, as heavy sell-offs in MTN Ghana (MTNGH) rattled investor sentiment.

MTNGH, the exchange’s most actively traded stock, dropped 4.92%, leading the broader market lower and marking the GSE-CI’s first significant weekly loss in May.

As a result, the index's year-to-date (YTD) return dipped to 29.97%.

The GSE Financial Stock Index (GSE-FSI) also slid 1.15% to 3,175.26 points, though it retains a solid 33.37% gain YTD.

Trading activity cooled considerably, with turnover down 82.63% to GH¢17.82 million.

Market capitalisation fell to GH¢139.30 billion from GH¢143.72 billion the previous week.

Despite the downturn, SIC Insurance (SIC) remained a standout performer, inching up by 0.01 points to preserve its impressive 211.11% YTD gain — the highest on the exchange.

Total Petroleum (TOTAL) and Société Générale Ghana (SOGEGH) also registered slight gains.

On the gainers’ board, Benso Oil Palm Plantation (BOPP) rose 4.2% to GH¢31.00, while Enterprise Group Ltd (EGL) advanced 1.06% to GH¢2.85.

Gold ETF (GLD) suffered the steepest decline of the week, tumbling 6.41% to GH¢373.62.

SP/MA