After a long drawn out period when investors were felling out each other to try and get the best price for stocks, finally, patience seems to have worn thin, as the prices of several stocks were finally allowed to trade lower than the asking prices a month or two ago.
By the look of trading and market quotes the downward correction is not yet over and with the Trinidad Economy still in deep recession the decline in market prices could go well into 2018 as the downward price adjustments take time to be fully reflected in trading.
Trading levels on the Trinidad & Tobago Stock Exchange closed on Thursday, fell below Wednesday’s volumes and values, and ended with 9 stocks declining, 7 holding firm and none gaining at the close.
At the end the Composite Index declined by 10.93 points to 1,269.95, the All T&T Index shed 12.64 points to 1,730.70 and the Cross Listed Index was down 1.25 points to close at 109.10.
The market closed with 16 securities changing hands compared to 15 on Wednesday leading to 513,696 shares trading, valued at $5,023,038 compared to Wednesday’s trades of 750,792 valued at $10,300,305.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 2 stocks with bids higher than last selling prices and 4 with lower offers.
Losses| The last traded prices of the securities declining at the close of the market are, Ansa McAL losing 2 cents to close at $63 trading 12,000 shares valued at $756,000, Guardian Holdings closed 98 cents lower to $17, with 2,000 shares exchanged and JMMB Group ended at $1.50, losing 9 cents exchanging 273,754 shares valued at $410,631. Massy Holdings declined by $1, closing at $48 with 1,146 units, National Enterprises ended with a loss of 20 cents at $9.80 with a mere 25 units trading, NCB Financial Group settled at $6.30, losing 20 cents, exchanging 40,850 shares, but only after it traded at a new high of $6.75 befoe pulling back by the close. Scotiabank traded 90 cents lower to $60.10 with 100 units changing hands, West Indian Tobacco fell by $1.05 to a new 52 weeks’ low of $101.80 trading 13,000 shares valued at $1,323,400 and Trinidad & Tobago NGL dropped 30 cents, in closing at $26.20 with 5,462 shares changing hands.
West Indian Tobacco hit another 52 weeks’ low on Thursday.
Firm Trades| The last traded prices of securities closing unchanged are, Clico Investment closing at $21 with 17,680 shares valued at $371,280, First Citizens remaining at $32 with 1,100 units changing hands, National Flour Mills closing at $1.90 with 1,747 shares. Republic Financial Holdings closed at $100 trading 5,657 shares valued at $565,700, Sagicor Financial remained at $7.95 with 123,670 shares valued at $982,164, Trinidad Cement closed at $3.95 with trades of 15,005 shares and Unilever Caribbean traded 500 units at $30.
Losses| The last traded prices of the securities declining are, First Citizens with a loss of 1 cent, in closing at $32 with 134,288 shares valued at $4,298,539, Guardian Holdings trading at $17.98, with a loss of 1 cent swapping 500 units, JMMB Group ending at $1.59, after losing 1 cent with 83,033 shares changing hands and Republic Financial Holdings that closed 25 cents lower to a new 52 weeks’ low of $100 with 549 units changing hands.
Caribbean International Bankthat ended at $9.30 with 1,000 units, First Citizens exchanged 4,146 shares at $32.01, Guardian Holdings held firm at $18 with 23,277 shares valued at $418,986. Massy Holdings traded 44,470 shares at $49 valued at $2,179,030, National Enterprises closed at $9.75 with 346 units, Point Lisas ended at $3.89 trading 1,000 units. Republic Financial Holdings closed at $100.50 with 963 units changing hands, Sagicor Financial remained at $7.95, trading 13,976 shares and Scotiabank held at $61 with 13,218 shares valued at $806,303 changing hands.
At the close of trading market activity resulted in 11 securities changing hands compared to 14 on Thursday with 3 stocks advancing, 2 declining and 6 holding firm as 165,628 shares traded at a value of $2,492,376 compared to Thursday’s trades of 221,067 valued at $3,013,733.
Guardian Holdings closed at a 52 weeks’ high of $18, after rising $1.45 and trading 69,236 shares valued at $1,192,342 and Sagicor Financial traded 4 cents higher to $7.95 in exchanging 13,000 shares.
Losses| Securities declining at the close are, Grace Kennedy that slipped 10 cents, ending at $3 with trades of 27,036 shares, JMMB Group with a loss of 2 cents, closing at $1.98 with 2,429 shares and Massy Holdings losing 2 cents to close at $48.95 with 2,100 shares changing hands.
Losses| Securities with prices falling are Clico Investment that dropped 20 cents, closing at $20.80 with trades of 3,010 shares, JMMB Group closed with a loss of 6 cents, at $2 in exchanging 68,255 shares and Unilever Caribbean dropped 95 cents to a 52 weeks’ low of $34 trading just 90 units.
Losses| The sole security changing hands is Sagicor Financial after losing 8 cents to close at $7.87 trading 22,496 shares.
Losses| The last traded prices of the securities declining at the close of the market are JMMB Group that dropped 3 cents to $2.06 with 3,500 shares exchanged and National Flour Mills with a loss of 5 cents, closed at $1.85 with 3,400 shares trading.
Losses| Securities closing down at last traded prices are JMMB Group that lost 1 cent and closed at $2.09 with 1,975 shares trading, L.J. Williams B with a loss of 7 cents, traded at 70 cents with 1,650 shares, Republic Financial Holdings declined by 19 cents to settle at $101.50, after trading at a low for the day at $100.50 with 405 units exchanged. Sagicor Financial closed at $7.94, losing 1 cent with 1,175 shares and Unilever Caribbean lost 5 cents, falling to a 52 weeks’ low of $34.95 with 100 units changing hands.
The Trinidad & Tobago Stock Exchange closed on Tuesday with 13 securities changing hands compared to 10 on Monday and resulted in 4 stocks advancing, 1 declining, 8 remaining unchanged. 
Losses| MMB Group is the sole stock declining and ended with a loss of 8 cents, closed at $2.10, trading 405,353 shares valued at $851,241.