All TTSE index down 8% in 2016 – Wednesday

Trading ended for the second consecutive days with 4 stocks closing at 52 weeks’ lows as demand for stocks remain low on the Trinidad & Tobago Stock Exchange as sellers offload stocks at lower prices, helping to push the all Trinidad index down nearly 10 percent for the year to date.
The market closed with 15 active securities changing hands on Wednesday with only 2 stocks gaining, 7 declining while 6 remained unchanged as selling pressure continues in the market. Trading ended with 570,894 shares valued at $6,951,799 changing hands. The Composite Index declined by 0.31 points to close at 1,119.00, the All T&T Index eased 0.57 points to close at 1,787.01 and the Cross Listed Index declined by 0.01 points to 59.91. Interestingly, the index for cross listed stocks is up 21 percent for the year to date and helped to negate the fall in the Composite Index to just 4 percent, the All T&T Index has lost 8 percent and seems destined to decline some more with weak demand for Trinidad stocks.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with the bid higher than the last selling prices and 7 with offers that were lower.
Gains| Trinidad and Tobago NGL gained 7 cents, to close at $19.62 with 4,461 shares trading and Guardian Holdings traded 470,714 shares valued at $6,119,282 to close at $13 after rising by 1 cent.
Losses| Clico Investment Fund traded 2,250 units at $22.55 after shedding 5 cents, First Citizens Bank traded 325 shares but fell 8 cents to end at a new 52 weeks’ low of $33.10, Massy Holdings lost 1 cent to close at 52 weeks’ low of $49.99 with 119 shares. Republic Financial fell to a 52 weeks’ low of $108.80 with a loss of 15 cents as 2,909 units changed hands, Sagicor Financial Corporation traded 69 units but fell 2 cents to $7.13. Scotiabank had 2,525 shares trading at $54.97 after falling 3 cents for a 52 weeks’ low and Scotia Investments traded 57,768 shares and fell 2 cents to close at $1.62.
Firm Trades| Guardian Media closed at $19.75 with 495 shares traded, JMMB Group closed at 58 cents with 2,000 shares changing hands. National Commercial Bank closed with 20,000 shares trading at $2.35, One Caribbean Media traded just 70 shares and ended at $21.48, Point Lisas Industrial Port Development traded 9,000 at $3.94 and West Indian Tobacco traded 650 shares to close at $126.36.