Accra, Ghana//-The ongoing Middle East crisis, which triggered short-term volatility, falling stock markets, and increased investor demand for safe-haven assets like gold and the US dollar, as well as oil supply shortages, has yet to have an impact on the Ghana Stock Exchange (GSE).
According to the GSE’s Summary of March 2026 Market Activities report, the equity market maintained its upward momentum by the end of March 2026, with both the Composite Index and the Financial Stocks Index posting gains of 48.91% and 71.86%, respectively.
It added: “Market activities continued its positive run with the number of transactions recording 117,104, representing an increase of 852.07% over the previous year”.
Top price gainers
The report mentioned Republic Bank (Ghana) PLC (97.07%), Standard Chartered Bank Gh. PLC (82.84%), Ghana Oil Company PLC (80.23%), Enterprise Group PLC (57.35%), Cocoa Processing Co. PLC (57.14%), Benso Palm Plantation PLC (37.74%), Clydestone (Ghana) PLC (33.78%), Ecobank Transnational Inc. (24.17%), Access Bank Ghana PLC (20.93%), Guiness Ghana Breweries PLC (15.93%) as the top price gainers for the month.
The price losers
The price losers for the month were Scancom PLC (-2.88%), Ecobank Ghana PLC (-6.60%), TotalEnergies Marketing Ghana PLC (-13.72%), SIC Insurance Company PLC (-15.38) Fan Milk PLC (-15.44%), CalBank PLC (-21.59%), GCB Bank PLC (-29.25%) and Societe Generale Ghana PLC( -37.60%).
The Ghana Fixed Income Market closed the month with a volume traded of 35.8 billion, representing an increase of 77.14% compared to the same period last year.
While Treasury Bills accounted for 43.25% of the total volume traded, while Government Notes and Bonds contributed 55.09% and Corporate Bonds accounted for 1.66%.
EQUITIES
The volume and value traded for the month were 193,804,792 shares and GHS1,093,155,058.87, respectively, representing an increase of 782.86% in volume and 441.40% in value compared to the same period last year.
The market recorded a year-to-date cumulative volume of 562,580,868 shares valued at GHS2,787,609,944.05, representing an increase of 817.13% in volume and 489.15% in value compared to the same period last year.
GHANA FIXED INCOME MARKET (GFIM)
The month closed with a total volume traded of 35.84 billion, reflecting a decrease of 13.92% compared to the previous month, while marking a 77.13% increase compared to the same period last year.
Year-to-date volume traded of 114.39 billion was 93.08% more than the 59.24 billion traded in the same period last year, the report noted.
Background
On February 28, 2026, after the breakdown of US–Iran negotiations, Israel and the United States conducted coordinated military operations against Iranian targets.
Iran retaliated with missile and drone strikes on Israeli territory, causing civilian casualties and infrastructure damage.
The US and Israel’s attack came after weeks of military buildup and threats from US President Donald Trump.
Large-scale strikes targeted Iranian military assets and the Islamic Republic’s top leadership, killing Supreme Leader Ayatollah Ali Khamenei.
Tehran’s Assembly of Experts subsequently appointed Ali Khamenei’s son, Mojtaba Khamenei, to succeed him.
Iran has retaliated by targeting U.S. military facilities in the region, Israel, and energy and civilian infrastructure in the Gulf states.
Israel has also stepped up its air strikes in Lebanon after Hezbollah fired rockets into Israel in support of Iran.
Iran’s ambassador to the United Nations stated that more than 1,500 civilians have been killed so far, including at least 175 people who were killed by a reported U.S. strike on an Iranian elementary school, and up to 3.2 million have been displaced.
Thirteen U.S. service members have been killed. Trump has issued conflicting statements on U.S. military objectives and the trajectory of the conflict.
The attack quickly escalated into a regional war with widespread ramifications for critical supply chains and humanitarian aid.
Iran’s effective closure of the Strait of Hormuz has caused a global energy shock, prompting the International Energy Agency to release four hundred million barrels from its strategic reserve.
Although there was a ceasefire called by Islamabad to mediate on the crisis. That mediation meeting between the US and Iran ended inconclusively, because the 10-point proposal offered for the mediation talks was not agreed upon by the two feuding parties.
The report file:///Users/masahudu/Downloads/GSE%20MONTHLY%20SUMMARY-MARCH%202026.pdf
