Declines hit TTSE as low oil price fuels economic peril

Falling stock prices continue their dominance in the republic of Trinidad and Tobago, the isle of calypso and oil, with the falling oil prices set to do major damage to the country’s economy.
The market closed on Thursday with 15 securities trading resulting in the price of one stock rising and nine stocks declining, while five remained unchanged, leading a decline of 12.43 points in the T&T Composite Index to 1,429.46. The All T&T Index fell 21.44 points to end at 1,842.17, while the Cross Listed Index slipped 0.45 points at 137.70. Today’s decline marks the seven consecutive days of falling values for all three market indices and pushed the market into a year to date loss.
The volume of stocks passing through the market fell to 402,595 shares valued $13,725,015 compared to 2,129,887 shares for $69,723,811 from trading in shares of 17 companies on Wednesday.
IC bid-offer Indicator The Investor’s Choice bid-offer indicator, ended with bids of two stocks higher than their last selling prices and eleven with lower offers.
Gainers│ Prestige Holdings was the sole stock advancing, with the price gaining 30 cents after trading 3,184 units in closing at $8.50.
Losers│ Calypso Macro Index Fund declined by $1.85, exchanging 250 stock units and ended at $14, Clico Investments dropped $2.45 to $22.55, after transferring 75,318 units, Grace Kennedy lost 40 cents to close at a 52 weeks’ low of $2.90 in trading 9,361 units. Guardian Holdings dropped $2.42 to close at $18.58, with 6,100 units crossing the market, JMMB Group lost 1 cent exchanging 140,624 units to close at $2.02, National Enterprises shed 15 cents in trading 550 stock units to finish at a 52 weeks’ low of $5.25. Scotiabank dropped $1.75 to $59.50, after transferring 18,368 shares, Trinidad & Tobago NGL lost 50 cents to end at a 52 weeks’ low of $15, with 28,661 shares crossing the market and West Indian Tobacco shed 20 cents exchanging 2,000 stock units to close at $36.75.
Firm Trades│ Agostini’s exchanged 300 units at $25.50, First Citizens Bank traded 69,820 stock units at $45, National Flour transferred 300 units at $1.22. Republic Financial Holdings with 45,364 stock units changing hands at $145.43 and Unilever Caribbean exchanged 2,395 units at $19.

Prices of securities trading for the day are those at which the last trade took place.

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