The Composite Index of the Trinidad and Tobago Stock Exchange closed lower for the week, at the same time that the All Trinidad Index slipped just over 5 point, with prices of 9 stocks falling and 7 rising.
The majority of stocks remain attractively prices at the close of the week with big upside gains ahead.
The average PE ratio of the market is.8.3 versus 9.8 last week compared to 5.3 based on the current year’s earnings. The huge difference between the two shows the undervalued level of the market currently is and the extent of the upside that lies ahead.
The only winning stocks of note for the week are Republic Holdings with a rise of $3 to $115, First Citizens Bank up 59 cents to $41 and Prestige Holdings gaining 51 cents to close at a 52 weeks’ high of $11.01
Ansa Merchant Bank fell 19 cents to $59.50, Scotiabank fell 95 cents to $57.55, Ansa McAl declined by 50 cents to $59.50 and LJ Williams B shares fell 34 cents to 93 cents.
Stocks that could gain more than 100 percent when the market comes back to life, include, CIBC Caribbean Bank with a possible gain of 250 percent, but the high level of potential supply may stifle this stock from achieving full potential, Guardian Holdings at 500 percent, Republic Holdings at 115 percent, Massy Holdings at 110 percent, Trinidad Cement with 300 percent, Eric Solis 400 percent and One Caribbean Media with 300 percent.