A quiet bullishness appears around the Trinidad and Tobago Stock Exchange since late 2021 and continues into the new year with prices of selected stocks hitting 52 weeks’ high on a frequent basis, with market activity on Wednesday ending with two stocks trading at 52 weeks’ high and resulted in more stocks rising than falling at the close after trading 63 percent more shares, with 251 percent higher value than Tuesday.
As was the case on Tuesday, 17 securities changed hands, with eight rising, two declining and seven remaining unchanged. The Composite Index increased 2.29 points to close at 1,523.87, the All T&T Index climbed 3.42 points to 2,135.00 and, the Cross-Listed Index advanced 0.15 points to settle at 121.92.
A total of 227,809 shares traded, for $3,415,464 compared to 139,988 units at $972,176 on Tuesday. An average of 13,401 units traded at $200,910 compared to 8,235 at $57,187 on Tuesday and trading month to date averaging 35,384 units at $230,963 versus 38,423 units at $235,117. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Agostini’s jumped $1.50 to close at a 52 weeks’ high of $37.50 with the swapping of 18 shares, Ansa McAl remained at $59.50 after trading 2,048 stock units, Clico Investment Fund ended unchanged at $30 after an exchange of 400 units. Endeavour Holdings ended at $7.99, with 2,000 shares changing hands, First Citizens Group increased 1 cent in closing at $66.99, with an exchange of 1,512 stock units, FirstCaribbean International Bank rose 1 cent to close at $6.15 after a transfer of 5,500 shares. 
GraceKennedy popped 5 cents to $6.20 after exchanging 10,065 stocks, Guardian Holdings remained at $30 while exchanging 10,592 units, Guardian Media gained 10 cents in ending at $3.15, with 300 shares traded. Massy Holdings declined 24 cents to end at $106.25, with 3,511 stock units crossing the market, National Enterprises fell 25 cents ending at $3.50 in an exchange of 13,495 units, National Flour Mills ended at $1.95 after exchanging 23,032 stocks. NCB Financial Group finished trading 137,101 shares at $8, Republic Financial Holdings climbed 3 cents to close at $140.25, with 6,000 stocks clearing the market, Scotiabank advanced $4.95 in closing at a 52 weeks’ high of $74.95 after 1,976 stock units crossed the exchange. Trinidad & Tobago NGL rallied 3 cents to close at $18.81 after exchanging 10,054 units and West Indian Tobacco ended at $28.38 in switching ownership of 205 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Quiet bullishness overhangs Trinidad Stock Exchange
Declining stocks dominate on Trinidad exchange
Declining stocks doubled those rising at the close of market activity on the Trinidad and Tobago Stock Exchange on Tuesday and resulted in a big drop in volume and value of stocks trading compared to Monday.
Seventeen securities traded, down from 21 on Monday, with five rising, 10 declining and two closing unchanged.
The Composite Index popped 0.95 points to 1,521.58, the All T&T Index rose 2.58 points to 2,131.58 and the Cross-Listed Index lost 0.11 points to settle at 121.77.
A total of 139,988 shares traded, for $972,176 in contrast with, 2,793,605 units at $10,485,578 on Monday. An average of 8,235 units traded at $57,187 versus 133,029 at $499,313 on Monday, and month to date averaging 38,423 units at $235,117 compared to 43,264 units at $263,655. The average trade for December ended 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s spiked $1 in closing at a 52 weeks’ high of $36 after exchanging 56 shares, Ansa McAl ended at $59.50, with 239 units changing hands, Clico Investment Fund remained at $30 after exchanging 550 stock units. First Citizens Group slipped 1 cent to $66.98 while exchanging 14 stocks, FirstCaribbean International Bank shed 1 cent in ending at $6.14 with an exchange of 25,210 stock units, GraceKennedy fell 5 cents to $6.15 after trading 200 shares. 
Guardian Holdings rose 25 cents to end at $30 in switching ownership of 98 units, JMMB Group gained 3 cents to close at $2.30, with 42,800 stocks changing hands, L.J Williams B share lost 4 cents to close at $1.80 in trading 964 shares. Massy Holdings declined 1 cent to $106.49 after trading 1,500 units, National Enterprises dipped 1 cent in closing at $3.75, with 42,816 stocks clearing the market, NCB Financial Group declined 1 cent in ending at $8 with the swapping of 10,000 stock units. Point Lisas climbed 47 cents to $3.62 in exchanging 500 stocks, Scotiabank rose $1 to close at $70, with 425 stock units crossing the exchange, Trinidad & Tobago NGL lost $1.21 to end at $18.78 with 210 shares changing hands. Unilever Caribbean shed 4 cents to land at $16.15 in an exchange of 13,600 units and West Indian Tobacco fell 12 cents to $28.38 after trading 806 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big jump in volume of shares traded on TTSE
Market activity ended on Friday on the Trinidad and Tobago Stock Exchange and resulted in more stocks rising than falling at the close of trading after 235 percent more shares, changed hands at a slightly lower value than Thursday.
At the close, 12 securities traded, down from 21 on Thursday, with three stocks rising, two declining and seven remaining unchanged. The Composite Index rose 1.20 points to 1,520.15, the All T&T Index increased 2.90 points to close at 2,129.89 and the Cross-Listed Index declined 0.09 points to settle at 121.61.
A total of 1,164,654 shares traded, for $4,097,849 up from 347,461 units at $4,332,061 on Thursday. An average of 97,055 units traded at $341,487 up from 16,546 at $205,583 on the prior day, with trading month to date averaging 21,087 units at $205,435 compared to 8,599 units at $183,067. Trading in December averaged to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows the bids for three stocks ending higher than their last selling prices and one stock with a lower offer.
At the close, Angostura Holdings finished at $20, with 101 shares crossing the exchange, First Citizens Group ended unchanged at $67 with an exchange of 162 stock units, FirstCaribbean International Bank remained at $6.15 after trading 3,100 stocks. 
GraceKennedy rallied 13 cents to $6.24 after 703 stock units passed through the market, Guardian Holdings shed 25 cents in ending at $30, with 24,940 shares changing hands, JMMB Group remained at $2.30 with the swapping of 1,060,843 stock units. Massy Holdings ended unchanged at $106.50 after 5,353 stocks crossed the market, National Flour Mills popped 1 cent to $1.95 after switching ownership of 58,580 units, Prestige Holdings finished unchanged at $7, with 130 stock units clearing the market. Scotiabank lost 50 cents to end at $70 in exchange of 42 shares, Trinidad & Tobago NGL climbed $1.40 to $20 while exchanging 10,225 stocks and West Indian Tobacco ended unchanged at $28.50 in trading 475 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More declines for T&T stocks
Market activity ended on Thursday and resulted in a three-way split in the movement of stocks at the close of trading, rising after 228 percent more shares, passed through the market than Wednesday, at the close of the Trinidad and Tobago Stock Exchange.
Overall, 21 securities traded up from 15 on Wednesday, with seven each rising and falling and seven ended unchanged. The Composite Index shed 1.68 points to end at 1,518.95, the All T&T Index fell 3.05 points to 2,126.99 and the Cross-Listed Index dipped 0.03 points to settle at 121.70.
A total of 347,461 shares traded, for $4,332,061 from 105,926 units at $3,856,740 Wednesday. An average of 16,546 units traded at $206,289 compared to 7,062 at $257,116 on Wednesday. Trading month to date averaged 8,599 units at $183,067 versus 5,390 units at $173,689. The average trade for December amounts to 21,703 shares at $306,768.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s ended at $34 while exchanging one share, Angostura Holdings gained $2 to $20 after trading at 73 units, investors exchange 6 stocks in Ansa McAl at $59.50. Ansa Merchant Bank finished unchanged at $43.10 in exchanging 2,477 stock units, Clico Investment Fund declined $1.37 to $30 as 8,610 stock units crossed the exchange, Endeavour Holdings popped 6 cents to $7.99 with the swapping of 1,855 shares. First Citizens Group fell $2.99 to $67 with an exchange of 1,919 stocks, FirstCaribbean International Bank finished unchanged at $6.15, with 23,130 units changing hands, GraceKennedy remained at $6.11 in an exchange of a mere one stock unit.
Guardian Holdings gained 25 cents in closing at $30.25 in switching ownership of 220 units, JMMB Group ended at $2.30 after exchanging 2,367 shares, Massy Holdings climbed $1 to $106.50, with an exchange of 5,565 stock units. National Enterprises inched 1 cent higher to $3.41 in trading 1,000 shares, National Flour Mills dipped 1 cent to $1.94 trading 1,000 stocks, NCB Financial Group ended unchanged at $8, with 286,718 stock units crossing the exchange. Republic Financial Holdings jumped $4.81 to $144.98 with 933 units changing hands, Scotiabank shed 50 cents in closing at $70.50, with 8,597 stocks crossing the market, Trinidad & Tobago NGL lost $1.40 to end at $18.60 in trading 155 stock units. Trinidad Cement fell 1 cent to close at $3.74, with 999 shares crossing the exchange, Unilever Caribbean declined 1 cent to $16.19 in an exchange of 1,800 units and West Indian Tobacco rallied 12 cents in closing at $28.50 in switching ownership of 35 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks cooled out on Trinidad exchange
Market activity ended Wednesday and resulted in more stocks rising than falling at the close of trading on the Trinidad and Tobago Stock Exchange after 37 percent more shares were traded, with 198 percent higher value than on Tuesday.
At the close, 15 securities traded down from 20 on Tuesday, with five rising, four declining and six ending unchanged. The Composite Index dropped 2.21 points to 1,520.63, the All T&T Index declined 2.25 points to 2,130.04 and the Cross-Listed Index dropped 0.30 points to settle at 121.73.
A total of 105,926 shares traded, for $3,856,740 up from 77,313 units at $1,292,574 on Tuesday, leading to an average of 7,062 units traded at $257,116 up from 3,866 at $64,629 on Tuesday, with trading month to date averaging 5,390 units at $173,689 versus 4,712 units at $139,864. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s gained $1 to end at a 52 weeks’ high of $34 after exchanging 100 shares, Ansa McAl rose 1 cent to close at $59.50 and trading 25,481 stocks, Ansa Merchant Bank finished unchanged at $43.10 after an exchange of 1,273 stock units. 
Clico Investment Fund remained at $31.37 with 1,867 units clearing the market, GraceKennedy slipped 13 cents to close at $6.11 in trading 4,588 shares, Guardian Holdings ended at $30 with 2,500 units changing hands. JMMB Group inched 1 cent higher to close at $2.30, with 1,150 stock units crossing the market, Massy Holdings dropped $1 to $105.50 in exchanging 5,715 stocks, NCB Financial Group ended at $8, with 31,234 units changing hands. One Caribbean Media shed 1 cent in closing at $4.44 after an exchange of 5 shares, Prestige Holdings remained at $7, with 100 stocks crossing the exchange, Republic Financial Holdings popped 1 cent to $140.17 with an exchange of 1,856 stock units. Scotiabank advanced 5 cents to close at a 52 weeks’ high of $71 while exchanging 3,666 shares, Trinidad & Tobago NGL finished unchanged at $20 in switching ownership of 739 stock units and West Indian Tobacco lost 12 cents after closing at $28.38 with the swapping of 25,652 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
10 year tax holiday for T&TSE SMEs listing
Trinidadian companies are to benefit from a ten year tax concession to small enterprises that list on the Trinidad and Tobago Stock Exchange, similar to the concession granted to listings on the Jamaica Stock Exchange Junior Market that will result in tax free status for five years and half the tax for the second five years, effective 2022.
The information was contained in his 2022 national Budget presentation by the Minister of Finance, Colm Imbert, in which he announced the tax benefits for small and medium enterprises (SMEs) that are listed on the Trinidad and Tobago Stock Exchange (TTSE).
The incentives come into effect from January 2022 that will result in SMEs will be granted a full tax holiday for five years following a listing on The TTSE and a 50 percent tax holiday for the second five years following the listing, thereafter the standard rate will apply thereafter. These exemptions include Corporation Tax, Business Levy and Green Fund Levy.
Prior to the announcement, the tax concession, initially announced in 2011, that resulted in the tax rate being 10 percent and later increased to 15 percent in 2020, resulted in only two companies listing as a result, in contrast to Jamaica Stock Exchange Junior Market that has been a resounding success, with 46 companies attracted to it with more to come shortly. It is worth noting that Jamaica in 2016 was planning to abolish the incentive, fortunately, that did not happen as such the Junior Market continues to grow and helps to strengthen the economic base of the country.
In commenting on the imminent SME tax holiday, CEO of the TTSE, Eva Mitchell, praised the opportunities this opens up for both the companies covered by the benefits and the public who are eager for new channels for investment. “The country continues to operate under the restrictions and sustained economic blows imposed by the Covid pandemic. The SME sector has been hit extremely hard, and these new tax incentives provide welcomed relief. The fact that they are accessible via listing on the Stock Exchange encourages interest and investment for further growth from our stakeholders. The Stock Exchange is a closely regulated environment which supports public confidence and sustained participation.”
Huge surge in Trinidad Stock Exchange
Trading on Tuesday took on a strong bullish tone on the Trinidad and Tobago Stock Exchange and resulted in nearly three stocks rising for every one falling and sending the Composite Index climbing 24.50 points to a record 1,522.84, the All T&T Index soaring 47.08 points to record 2,132.29, while the Cross-Listed Index just inched up 0.05 points to settle at 122.03, after 20 percent fewer shares were traded with 67 percent lower value than Monday.
A new record high for the Trinidad Stock Exchange.
At the close, 20 securities traded up from 17 on Monday, with eight rising, three declining and nine remaining unchanged. At the close, three stocks ended at 52 weeks’ highs.
A total of 77,313 shares traded, for $1,292,574 down from 97,023 units at $3,882,396 on Monday. An average of 3,866 units traded at $64,629 compared to 5,707 shares at $228,376 on Monday and month to date an average of 4,712 units at $139,864. The average trade for December was 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows three stocks ended with higher bids than their last selling prices and none with a lower offer.
At the close, Agostini’s traded 4,839 shares at $33, Angostura Holdings ended at $18 with an exchange of 4,900 stocks, Ansa McAl remained at $59.49 25 stock units changing hands. Clico Investment Fund fell $3.63 to close at $31.37 after trading 388 units, First Citizens Group spiked $9.99 to an all-time high of $69.99, with 201 stocks crossing the exchange, FirstCaribbean International Bank rose 1 cent to $6.15, with 1,600 stock units crossing the market. Guardian Holdings finished at $30 after an exchange of 7,656 units, Guardian Media increased 1 cent to end at $3.05, with 1,000 shares clearing the market, JMMB Group remained at $2.29 with the swapping of 1,525 shares. 
Massy Holdings rallied $1.50 in ending at a 52 weeks’ high of $106.50 while exchanging 4,128 stock units, National Enterprises ended at $3.40 while trading 18,137 units, National Flour Mills ended at $1.95 in switching ownership of 1,012 stocks. NCB Financial Group ended at $8 in exchanging 7,582 stock units, Prestige Holdings shed 20 cents at $7 as 4,000 units changed hands, Republic Financial Holdings gained 14 cents to end at $140.16 after exchanging 91 stocks. Scotiabank climbed $1.95 to end at a 52 weeks’ high of $70.95, with 83 shares crossing the market, Trinidad & Tobago NGL dropped 50 cents in ending at $20 after an exchange of 29 shares, Trinidad Cement popped 1 cent to $3.75 trading 14,963 stock units. Unilever Caribbean finished unchanged at $16.20, with 2,900 units changing hands and West Indian Tobacco rallied 25 cents in closing at $28.50 in an exchange of 2,254 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Trinidad Exchange to start 2022
Market activity was mixed on Monday after declining stocks edged out those rising after 57 percent fewer shares changed hands, with 32 percent lower value than on Friday, at the close of the Trinidad and Tobago Stock Exchange.
Trinidad & Tobago Stock Exchange Head Quarters
At the close, 17 securities traded similar to Friday, with four rising, five declining and eight remaining unchanged. The Composite Index popped 1.41 points to 1,498.34, the All T&T Index rallied 0.40 points to end at 2,085.21 and the Cross-Listed Index rose 0.35 points to settle at 121.98.
Just 97,023 shares traded, for $3,882,396 down from 223,523 units at $5,677,342 on Friday. An average of 5,707 shares traded at $228,376 versus 13,148 at $333,961 on Friday. The average trade for December ended at 21,703 units for an average of $306,768.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings remained at $18 in an exchange of 5,080 shares, Ansa McAl traded 3,955 stock at $59.49, Ansa Merchant Bank finished at $43.10, with 38 units crossing the market. GraceKennedy climbed 6 cents to $6.24, with 1,053 stocks changing hands, Guardian Holdings remained at $30 in switching ownership of 32,007 stock units, JMMB Group slipped 1 cent to close at $2.29 with an exchange of 100 shares. Massy Holdings ended unchanged at $105 while exchanging 14,093 units, National Enterprises traded 8 shares at $3.40, National Flour Mills finished trading 100 stock units at $1.95. 
NCB Financial Group fell 10 cents to $8 after 25,939 stocks changed hands, One Caribbean Media popped 10 cents to $4.45 in exchanging 3,885 shares, Republic Financial Holdings lost 3 cents in closing at $140.02 after trading 5,444 units. Scotiabank increased 50 cents to close at $69 after exchanging 500 units, Trinidad & Tobago NGL dropped 50 cents to end at $20.50, with 110 stocks changing hands, Trinidad Cement rallied 16 cents to $3.74 after exchanging 1,985 stock units. Unilever Caribbean remained at $16.20 swapping of 100 shares and West Indian Tobacco shed 25 cents to end at $28.25, with 2,626 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rule changes likely for Trinidad Stock Exchange
Many investors are concerned about the long held view that the trading of odd lots should not be used to set stock prices but this practice was changed by Jamaica Stock Exchange in recent years along with the Trinidad and Tobago Stock Exchange (TTSE).
Well the TTSE is currently, redrafting rules to enhance the speed and transparency of transactions and trades. According to a release from the TTSE, “the revisions are taking place under the guidance of the Trinidad and Tobago Securities and Exchange Commission and will be available for public review when completed, the Exchange disclosed.”
The revisions are expected to tighten regulation of companies listed on the TTSE, securities traded on behalf of investors, which is hoped will help boost public confidence in the role and function of trading on the capital market.
The main revisions to the Rules include proposed amendments to Disclosure Rules of listed companies which will be clarified further and possible violations will be included in the scope of self-regulatory supervision.
Proposed Changes to the Closing Price Methodology will restrict small volume trades from being included in the calculation of the day’s closing price and the proposed adjustment to the settlement period will reduce the settlement period from three business days.
Trinidad stocks end 2021 up 17.6%
Market activity ended on Friday and the year 2021 with more stocks rising than declining at the close of trading, after trading moderately fewer shares than on Thursday, with the market indices slipping mildly at the close of the Trinidad and Tobago Stock Exchange as the market was having its best performance since 2013.
A total of 17 securities traded, down from 19 on Thursday, with six rising, four declining and seven unchanged. The Composite Index declined 0.65 points to 1,496.93, ending the year up 13.14 percent, the All T&T Index lost 1.01 points to 2,084.81, with a yearly rise of 17.61 percent and the Cross-Listed Index declined 0.04 points to settle at 121.63 for a modest rise of 3 percent. For the year 18 stocks rose and 10 declined. Massy Holdings with a 72 percent rise was the leading stock followed by GraceKennedy with a gain of 61 percent.
A total of 223,523 shares traded, for $5,677,342 compared to 303,294 units at $7,026,727 on Thursday. An average of 13,148 units traded at $333,961 compared to 15,963 at $369,828 previously, with trading month to date averaging 21,703 units at $306,736 versus 22,121 units at $305,406. The average trade for November amounts to 35,109 units at $290,897.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s spiked $1 to a 52 weeks’ high of $33 after exchanging 38 shares, Angostura Holdings lost $2 to close at $18, with 20 stock units changing hands, First Citizens Group climbed 74 cents to end at $60 in an exchange of 2,973 units. FirstCaribbean International Bank fell 1 cent to $6.14 with 20,000 stocks crossing the market, GraceKennedy ended trading 110,117 shares at $6.18, Guardian Holdings ended unchanged at $30, with 1,000 stock units changing hands.
JMMB Group remained at $2.30 trading 1,366 stocks, Massy Holdings shed $4.98 to close at $105 after an exchange of 21,069 units, National Enterprises rallied 9 cents to $3.40 after 765 shares crossed the market. National Flour Mills exchanged 692 stock units at $1.95, NCB Financial Group popped 10 cents to end at $8.10 with the swapping of 47,483 stocks, Prestige Holdings increased 20 cents in closing at $7.20 while exchanging 622 units. Republic Financial Holdings rose 3 cents to $140.05, with 14,199 stock units clearing the market, Scotiabank finished unchanged at $68.50 with an exchange of 402 units, Trinidad Cement slipped 10 cents to $3.58 in trading 450 shares. Unilever Caribbean ended at $16.20, with 1,929 stocks crossing the exchange and West Indian Tobacco ended at $28.50 in switching ownership of 398 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.