Surge in rising stocks on T&T Exchange


The Trinidad and Tobago Stock Exchange had one of its better days for some time, with prices of 16 stocks rising, only four declining and seven ending unchanged following trading of 27 stocks on Tuesday, up from 22 on Monday, with the volume of stocks traded surging massively by 2,368 percent and the value jumping 232 percent more than on Monday. Guardian Media gobbled up a little over half of all the shares traded resulting in 27 securities trading and ending

The market closed with trading of 1,111,829 shares for $3,988,391 after soaring from 45,045 stock units at $1,202,685 on Monday.
An average of 41,179 shares were traded at $147,718, after jumping from just 2,048 units at $54,667 on Monday. Trading for the month to date averages 16,334 shares at $228,586 compared with 13,754 units at $236,983 on the previous day and an average for April of 16,463 shares at $259,049.
The Composite Index rose 5.21 points to 992.50, the All T&T Index increased 4.37 points to 1,421.84, the SME Index remained unchanged at 81.70 and the Cross-Listed Index increased 0.86 points to finish at 74.63.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close of trading, Agostini remained at $59.50 in switching ownership of 10 shares, Angostura Holdings gained 5 cents to close at $10.85 with 2,938 units crossing the exchange, Ansa McAl rose 50 cents in closing at $45 after a transfer of 1,509 shares. Ansa Merchant Bank rallied 10 cents to $28.60 as investors traded 48 stock units, AS Bryden popped 5 cents and ended at $1.90 after trading of 1,025 stocks, CIBC Caribbean Bank increased 3 cents to$8.30 after an exchange of 25 shares. CinemaOne ended with the trading of 10 stock units at $3.98, Endeavour Holdings sank $1 to $16 with an exchange of 10 units, First Citizens Group ended at $36.50 with 2,424 stock units crossing the market. GraceKennedy rallied 8 cents to close at $3.58 in an exchange of 176,343 shares, Guardian Holdings remained at $16 with investors trading 250 stocks, Guardian Media advanced 1 cent to end at 68 cents with dealers swapping 447,559 units. JMMB Group lost 6 cents to 90 cents with 66,329 stock units crossing the market, L.J. Williams B share remained at 90 cents following trading of 510 shares, Massy Holdings shed 1 cent and ended at a 52 weeks low of $3.42 with 69,356 stocks changing hands. Medcorp ended at $43.75 with a transfer of 10 units, National Enterprises rose 5 cents to end at $5.10 with investors dealing in 311,960 stock units, National Flour Mills gained 3 cents to finish at $1.45 after an exchange of 1,010 shares. NCB Financial popped 10 cents and ended at $2.50 with investors trading 6,954 units, One Caribbean Media rallied 4 cents to a 52 weeks high of $1.60 with 11 stocks passing through the market, Point Lisas climbed 33 cents to $7 with traders dealing in 275 stocks. Republic Financial gained 5 cents in closing at $107.25 following trading of 6,961 shares, Scotiabank remained at $45.50 with investors swapping 10 units, Trinidad & Tobago NGL sank 25 cents to settle at $10 with 1,266 stocks crossing the exchange. Trinidad Cement advanced 1 cent to $1.63 with investors trading 1,010 stock units, Unilever Caribbean popped 30 cents to close at $16.05 in an exchange of 11,019 shares and West Indian Tobacco increased 4 cents to end at $2.84 with investors trading 2,997 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

NCB Financial big TTSE loser in 2022

The past year was not great for stock markets worldwide as rising inflation and interest rates, coupled with the negative impact of the war in Ukraine on economic activity, diverted money away from stocks into bonds and other savings instruments as more investors sought safety from the volatility of stocks. The above combination took its toll on Jamaica’s largest commercial banking group, that fell the most in Trinidad Stock Exchange, even as Cinema One climbed nearly 100 percent.
Even bond markets did not provide a haven for investments, as many lost value as a result of the rising interest rates.
But even while that manifested, some stocks breached the trend and rose in value.
In the twin island state of Trinidad and Tobago, prices of 11 stocks rose, but 16 declined as the market index declined, with the composite market index falling 11 percent for the year, while the All TT index slipped a smaller 3.7 percent.
Leading the market was Cinema One, with a rise of 93 percent as the price recovered from the covid19 crushing in the prior year, followed by Agostini’s with a 52 percent rise and Angostura up 33 percent. The worst performer is Jamaica based NCB Financial Group, with a fall of 44 percent, followed by Jamaica’s GraceKennedy, down 27 percent and cigarette manufacturers West Indian Tobacco, with a decline of 44 percent as the company posted lower profits of $209 million in the nine months to September than it did in 2021, with $270 million with the third quarter falling to $56 million from $83 million in 2021 as sales fell from $200 million in the September quarter to $165 million in 2022 and $549 million for the nine months compared with $610 million in 2021.