Trading on the Trinidad and Tobago Stock Exchange ended the past week, with several stocks recording sizable price changes that resulted in mixed fortunes for the two major indices.
At the close of the week, the All Trinidad and Tobago Index rose marginally by less than one percent and the Combined Index just slipped lower. Just four stocks gained at the close of the week, and 14 declined, a turnaround from the prior week with 12 rising and 9 declining.
The average PE ratio of the market closed slightly higher at 8.25, based on 2023 earnings and 5.75, based on estimates of 2024 earnings. The two ratios continue to deviate wildly, with several stocks being undervalued.
Unlike the previous week when the financial sector enjoyed solid gains, this past week all declined except for Republic Holdings was unchanged at $113.09. Ansa McAl rallied $1.50 to $51.50 and Unilever Caribbean ended with a gain of $2.01 to close at $13.01.
Ansa Merchant Bank and Scotiabank dropped $1 to close at $40 and $53, respectively. First Citizens Bank lost 37 cents to $41.75, Endeavour Holdings fell $1.85 to $16.15 and the Calypso Macro Index Fund shed $1.50 to $23.50.
Stocks with the potential to gain more than 100 percent when the market comes back to life, include CIBC Caribbean Bank which could rise by 200 percent, the severely undervalued Guardian Holdings, with a 440 percent potential, Republic Holdings at 140 percent, First Citizens Bank 100 percent, Massy Holdings 50 percent, Trinidad Cement with 340 percent, Eric Solis with a 100 percent potential gain and One Caribbean Media with 330 percent.
Investors should watch Prestige Holdings, which could gain 90 percent and Trinidad and Tobago NGL, 290 percent.