On Monday 24 of January, the Junior Market index reached to 3,700 mark for the first time and went on to record seven consecutive days of record closing highs, with the close on the 27 at 3,669.73 and peaking for that week at 3,717.45 on Friday, January 28, by Friday last week, the market which hit an intraday record high of 4,051.04 ended at a new closing high of 3,985.87 to be up 16.3 percent for the year to date and up just 37 percent from the pre-pandemic crash and 96 percent from the low in March 2020.
On the surface, the Junior Market has had a full recovery from the 2020 Covid-19 induced collapse that saw the index collapsing from 2,900 points at the end of February to 2,534 points on March 6 and bottoming out at 2,031.79 points on March 18 for a plunge of 39 percent from the start of 2020, and much more after peaking at 3,662 points in mid-August 2019.
A closer look at the market indicates there are elements of the market that are not back, with many stocks still trading below their pre-covid-19 levels. This group includes Access Financial that was at $32.94, just before the collapse, and is now at $25, Blue Power at $4.52 then and is now at $3.20, CAC2000 ordinary share then at $12.50, now $8.25, Consolidated Bakeries at $1.79, and now trading at $1.05, Jetcon Corporation at a $1.31, currently 94 cents, Knutsford Express at $11 in 2020, presently at $8, Main Event at $5.79 and now trades at $4 and Stationery and Office Supplies $8.86 it last traded at to be $6.
While the Junior Market has made great strides since hitting the 2020 low, the same is not the case for the heavily financially weighted Main Market that continues to be mired in depression following the initial sharp fall in March 2020 when the market fell precipitously to 375,091.09 points on the All Jamaican Composite Index from 529,722.22 at the end of February, for a 29.2 percent decline. As o Friday last the market is only up 20 percent from the March 2020 market bottom and 15 percent below the end of February 2020 level, and still well below the all-time high of 584,697.71 it closed on August 8, 2019. The major reason for the prolonged decline is primarily due to falling in stocks such as a Jamaica Stock Exchange, Kingston Wharves, NCB Financial, PanJam Investment, Proven Investments, Palace Amusement, Sagicor Group, Sagicor Select Funds, Scotia Group, Supreme Ventures, Sygnus Credit Investments, Wighton Windfarm. Strong gains in Barita Investments, Grace Kennedy, Caribbean Cement, Caribbean Producers, Salada Foods, Seprod and Radio Jamaica could not negate the effect of the big decliners.
Rising stocks dominate in Trinidad
Investors changed course in trading activity on Friday on Thursday, pushing the majority of stocks with price changes upwards on the Trinidad and Tobago Stock Exchange and resulting in nine stocks rising, two declining and seven remaining unchanged after trading 85 percent fewer shares, with 43 percent lower value than Thursday.
Trading ended with 18 securities changing hands compared to 16 on Thursday. The Composite Index rose 3.06 points to 1,518.15, the All T&T Index increased 3.65 points to end at 2,124.06 and the Cross-Listed Index advanced 0.34 points to settle at 121.91.
A total of 543,618 shares traded for $7,179,353 compared to 3,682,320 units at $12,609,856 on Thursday. An average of 30,201 units traded at $398,853 compared to 230,145 shares at $788,116 on previous day, with trading month to date averaging 86,697 units at $630,612 versus 105,529 units at $707,865. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
In trading, Agostini’s advanced $1 to $46 while exchanging 485 shares, Angostura Holdings increased 1 cent to end at $20 after exchanging 13,370 units, Ansa McAl climbed 25 cents to $59 in exchanging 5,406 stocks. Clico Investment Fund gained 50 cents to close at $29.50, with 30,273 stock units crossing the market, First Citizens Group rose 75 cents to end at $63.75 after trading 642 shares, FirstCaribbean International Bank lost 1 cent to end at $6.13 with 1,000 units changing hands. 
GraceKennedy popped 10 cents in closing at $6.20 in an exchange of 74,135 stocks, Guardian Holdings rallied 25 cents to $30 in trading 150 stock units, JMMB Group gained 5 cents to close at $2.35 after exchanging 27,237 stocks. Massy Holdings remained at $106 in switching ownership of 15,994 shares, National Flour Mills dropped 3 cents to $1.87, with 5,000 units changing hands, NCB Financial Group finished at $8 with 344,072 stock units clearing the market. Republic Financial Holdings ended unchanged at $143 after 1,061 stocks crossed the exchange, Scotiabank finished at $72.01 with the swapping of 604 stock units, Trinidad & Tobago NGL ended unchanged at $19.50 with an exchange of 23,846 units. Trinidad Cement remained at $3.75 after trading 235 shares, Unilever Caribbean advanced 5 cents to end at $16 with an exchange of 90 stock units and West Indian Tobacco finished at $26.06 trading 18 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Profit falls at NCB Financial
Loans at NCB Financial jumped 19 percent from the year ago period to $549 billion at the end of December 2021, from $461 billion in 2020, with net interest income rising to $16.3 billion from $13.8 billion in the final quarter of 2020, while fees and commission income rose to $6.4 billion from $5.9 billion but foreign exchange gains plummeted from $5.4 billion to just $1.6 billion while Insurance revenues net jumped from $8.6 billion to $9.3 billion.
Expenses rose from $25.6 billion to $27 billion helping to reduce profit for the quarter and resulting in $2.64 billion due to NCB shareholders compared to $3.9 billion in 2020 for earnings per share of $1.15 versus $1.66 in 2020.
The group’s future performance is highly dependent on growth in loans, normalization of interest rates and improved performance of the life insurance arm that dropped $1 billion in profits in the quarter. Foreign exchange gains have played a big part in the past but this is unlikely to be an area that can be relied on for sustainable high income growth going forward. The banking arm also has to find ways to reduced costs in personal banking to turn the loss of $322 million into a profit.
The group now has total assets of $2,025 billion up from $1,797 billion at the end of 2020 and total equity capital of $164 billion.
The group did not declare a dividend at the meeting of directors.
More declines for Trinidad stocks
Price movements were mostly down at the close of trading on the Trinidad and Tobago Stock Exchange on Thursday as the volume of shares exchanged surged 293 percent valued 38 percent more than on Wednesday.
The number of securities traded remained 16 as was the case on Wednesday, with two rising, six declining and eight remaining unchanged. The Composite Index slipped 1.40 points to 1,515.09, the All T&T Index declined 6.39 points to end at 2,120.41 and the Cross-Listed Index rose 0.55 points to settle at 121.57.
A total of 3,682,320 shares traded for $12,609,856 up from 937,553 units at $9,155,489 on Wednesday. An average of 230,145 units traded at $788,116 compared to 58,597 shares at $572,218 on the previous day, with trading month to date, averaging 105,529 units at $707,865 versus 53,059 units at $674,075. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s lost $1 to end at $45, with100 shares changing hands, Angostura Holdings ended unchanged at $19.99 with the swapping of 64 units, Ansa McAl dropped 25 cents in closing at $58.75 after ownership of 550 stock units was shifted. Clico Investment Fund remained at $29, with 256 stocks crossing the market, First Citizens Group declined $1 to $63 trading 269 units, FirstCaribbean International Bank rose 14 cents to $6.14 after 100 stocks changed hands. 
GraceKennedy finished at $6.10 with an exchange of 48,271 shares, Guardian Holdings shed 25 cents to close at $29.75 after 7,980 stock units cleared the market, JMMB Group ended at $2.30 after exchanging 3,381,000 units. Massy Holdings remained at $106 while exchanging 18,240 stock units, NCB Financial Group finished at $8 in swapping 186,740 stocks, One Caribbean Media rallied 10 cents to $4.20 after exchanging 20,200 shares. Republic Financial Holdings finished at $143 in an exchange of 2,128 stock units, Scotiabank ended at $72.01 after trading at 475 stocks, Trinidad & Tobago NGL fell 49 cents to $19.50 with an exchange of 300 shares and West Indian Tobacco shed 54 cents to $26.06 in trading 15,647 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading slips for Trinidad stocks on Tuesday
Trading dipped on Wednesday compared to Tuesday, with an exchange of 13 percent fewer shares and 44 percent lower value after 16 securities traded compared to 22 on Tuesday, with five rising, four declining and seven ended unchanged at the close of the Trinidad and Tobago Stock Exchange.
The Composite Index dipped 1.62 points to 1,516.49, the All T&T Index rallied 0.27 points to 2,126.80 and the Cross-Listed Index slipped 0.51 points to settle at 121.02.
Overall, 937,553 shares traded for $9,155,489 compared to 1,078,680 units at $16,459,376 on Tuesday. An average of 58,597 units traded at $572,218 compared to 49,031 shares at $748,153 on Tuesday. Tading month to date ended with an average of 53,059 units at $674,589. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
Agostini’s gained $1 to close at $46 in switching ownership of 4,415 shares, Angostura Holdings ended unchanged at $19.99 after trading 48 units, Ansa McAl finished with an exchange of 12,735 stocks at $59. Clico Investment Fund rallied 2 cents to $29, with 8,050 stock units crossing the market, First Citizens Group remained at $64 after exchanging 1,323 stock units, GraceKennedy lost 10 cents in closing at $6.10, with 166,758 shares crossing the exchange. 
Guardian Holdings popped 15 cents to close at $30 after exchanging 12,000 units, JMMB Group shed 4 cents ending at $2.30 trading 65,122 stocks, Massy Holdings ended at $106 with 9,577 stock units changing hands. National Flour Mills dipped 1 cent to $1.90 in trading 3,928 stocks, NCB Financial Group ended at $8 with the swapping of 606,255 shares, Republic Financial Holdings remained at $143 after trading 32 units. Trinidad & Tobago NGL advanced 99 cents to close at $19.99 while exchanging 10,409 shares, Trinidad Cement ended unchanged at $3.75 in exchanging 26,425 units, Unilever Caribbean fell 5 cents to $15.95 and ended trading of 10,040 stock units and West Indian Tobacco rose 59 cents to end at $26.60, with 436 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage in Port of Spain
Trading on the Trinidad and Tobago Stock Exchange started in February, with the market indices slipping when the market closed on Tuesday, with slightly more stocks rising than falling after 100 percent more shares were exchanged, with 116 percent higher value than on Monday.
A total of 22 security traded down slightly from 24 on Monday, with eight stocks rising, seven declining and seven remaining unchanged.
FirstCaribbean International Bank and West Indian Tobacco both closed trading at 52 weeks’ low.
The Composite Index declined 4.56 points to 1,518.11, the All T&T Index fell 5.15 points to 2,126.53 and the Cross-Listed Index dipped 0.55 points to settle at 121.53.
A total of 1,078,680 shares traded or $16,459,377 up from 539,621 units at $7,631,985 on Monday. An average of 49,031 units traded at $748,153 compared to 22,484 shares at $317,999 on Monday. The average trade for January amounted to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s rose 50 cents in ending at $45, with 2,327 shares crossing the market, Angostura Holdings remained at $19.99 while exchanging 1,100 stock units, Ansa McAl ended unchanged at $59 trading 73 units. CinemaOne fell 5 cents to end at $4 after an exchanging of 4,149 stocks, Clico Investment Fund increased 48 cents to $28.98 with the swapping of 2,285 stock units, First Citizens Group dropped 49 cents to $64 after finishing trading of 577 shares. FirstCaribbean International Bank shed 14 cents to close at a 52 weeks’ low of $6 after the switching ownership of 1,000 units, GraceKennedy popped 9 cents to end at $6.20 trading 955,600 stocks, Guardian Holdings lost 15 cents to close at $29.85, with 69 stock units changing hands.
JMMB Group declined 1 cent to $2.34 with 5,319 stocks clearing the market, L.J. Williams B share gained 4 cents to end at $1.84 with an exchange of 1,621 shares, Massy Holdings finished at $106 in exchanging 9,524 units. National Flour Mills rallied 4 cents to $1.91 after exchanging 15 units, NCB Financial Group finished at $8 after 19,842 stocks crossed the market, One Caribbean Media remained at $4.10 in an exchange of 1,999 stock units. Point Lisas ended unchanged at $3.27 in trading 200 shares, Republic Financial Holdings advanced $1 to close at $143 after trading 62,644 stocks, Scotiabank popped 1 cent to $72.01 in switching ownership of 800 units. Trinidad & Tobago NGL declined 99 cents in closing at $19 after 2,001 stock units passed through the exchange, Trinidad Cement gained 1 cent to end at $3.75 while exchanging 7,000 shares, Unilever Caribbean ended unchanged at $16 after trading 129 shares and West Indian Tobacco lost $1.49 to end at a 52 weeks’ low of $26.01 in an exchange of 406 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks up 2% on Trinidad Stock Exchange
Stocks recorded gains of almost two percent in January at the close of market activity on Monday with more stocks falling than rising at the close of trading, after trading 31 percent fewer shares changed hands than on Friday, on the Trinidad and Tobago Stock Exchange as 24 securities traded up from 21 on Friday, with four rising, six declining and 14 remaining unchanged.
The Composite Index dipped 0.69 points to 1,522.67, the All T&T Index slipped 1.33 points to 2,131.68 and the Cross-Listed Index remained unchanged at 122.08.
A total of 539,621 shares traded for $7,631,985 up from 778,680 units at $8,157,581 on Friday. An average of 22,484 units traded at $317,999 up from 37,080 shares at $388,456 on Friday, with trading month to date averaging 39,943 units at $369,498 versus 41,079 units at $372,826. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s fell 75 cents to $44.50 while exchanging one share, Angostura Holdings finished at $19.99 trading 2,001 stock units, Ansa McAl ended at $59 after exchanging 42 units. Calypso Macro Investment Fund remained at $16.75 with investors swapping 640 stocks, CinemaOne dropped 15 cents to close at $4.05, with 851 units crossing the exchange, Clico Investment Fund declined $1.50 to $28.50, with 7,961 stocks changing hands. First Citizens Group ended at $64.49 with an exchange of 24 stock units, FirstCaribbean International Bank remained at $6.14, with one share crossing the market, GraceKennedy lost 4 cents to $6.11 in switching ownership of 9,047 shares. Guardian Holdings finished at $30 after exchanging 439 stock units, Guardian Media remained at $3.10 after 1,914 stocks crossed the market, JMMB Group closed at $2.35 with the swapping of 2,581 units.
L.J. Williams B share advanced 8 cents to $1.80 after the trading of 3,379 units, Massy Holdings ended at $106 in an exchange of 34,668 stock units, National Enterprises climbed 13 cents to end at $3.25 after exchanging 315 stocks. NCB Financial Group shed 1 cent to end at $8, with 300,855 shares clearing the market, One Caribbean Media shed 10 cents to $4.10 trading 5,001 units, Point Lisas remained at $3.27 after exchanging 152,249 stocks. Prestige Holdings popped 4 cents to close at $7.04 after 30 shares crossed the market, Republic Financial Holdings popped 66 cents to $142, with1,000 stock units crossing the exchange, Scotiabank finished at $72 after clearing the market with 3,431 stocks. Trinidad & Tobago NGL ended at $19.99 after trading 10,007 stock units, Unilever Caribbean remained at $16 with 1,589 shares changing hands and West Indian Tobacco ended at $27.50 in trading 1,595 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stock values inched higher on T&TSE
Market activity ended on Friday on the Trinidad and Tobago Stock Exchange with 96 percent more stocks trading, with 42 percent lower value than on Thursday after rising stocks were just edged out by those that fell.
Twenty one securities traded, up from 18 on Thursday, with seven rising, eight declining and six unchanged. The Composite Index inched by 0.04 points to 1,523.36, the All T&T Index rose 5.63 points to 2,133.01 and the Cross-Listed Index fell 0.83 points to settle at 122.08.
A total of 778,680 shares traded for $8,157,581 compared to 396,731 units at $14,048,777 on Thursday. An average of 37,080 units traded at $388,456 compared to 22,041 shares at $780,488 on the previous day, with trading month to date averaging 41,079 units at $372,826 versus 41,320 units at $371,883. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows two stocks ended with a bid higher than their last selling prices and three stocks with lower offers.
At the close, Agostini’s advanced 25 cents in closing at $45.25 after an exchange of 152 shares, Angostura Holdings remained at $19.99, with 5,148 stock units crossing the exchange, Ansa McAl rose $2 to close at $59 with the swapping of 550 units. Calypso Macro Investment Fund dropped $2.25 in ending at $16.75 with an exchange of 120 stocks, Clico Investment Fund finished at $30 while exchanging 9,923 shares, First Citizens Group shed 26 cents to $64.49 with 323 stocks changing hands. FirstCaribbean International Bank ended unchanged at $6.14 in trading 5,614 stock units, GraceKennedy lost 1 cent ending at $6.15 in switching ownership of 7,482 units, JMMB Group declined 12 cents to close at $2.35 after exchanging 254,390 shares.
Massy Holdings popped 1 cent to end at $106 after trading 33,076 units, National Enterprises fell 13 cents to close at $3.12 after exchanging 700 stocks, National Flour Mills remained at $1.87 after 62,410 stock units changed hands. NCB Financial Group popped 1 cent higher in closing at $8.01, with 289,219 stock units crossing the market, Point Lisas rallied 2 cents to end at $3.27 trading 80,200 stocks, Prestige Holdings fell 5 cents to $7, with 10,000 shares changing hands, Republic Financial Holdings gained 4 cents in closing at $141.34 after trading 2,786 units, Scotiabank ended at $72 with 2,112 units crossing the market, Trinidad & Tobago NGL finished at $19.99, with 3,030 stock units crossing the market. Trinidad Cement declined 6 cents to end at $3.74 after 7,426 shares crossed the exchange, Unilever Caribbean increased 25 cents to $16 with 20 stocks changing hands and West Indian Tobacco lost 48 cents in closing at $27.50 after trading 3,999 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Retreat for Trinidad & Tobago stocks
Stock prices plunged Thursday, on the Trinidad and Tobago Stock Exchange, with the Composite Index shedding 6.49 points to 1,523.32, the All T&T Index fell 11.35 points to close at 2,127.38 and the Cross-Listed Index lost 0.18 points to settle at 122.91, with just two stocks rising, 11 declining and five remaining unchanged after trading picked up with 168 percent more shares changing hands with 417 percent higher value than on Wednesday.
A total of 18 securities traded similar to Wednesday, resulting in an exchange of 396,731 shares for $14,048,777 up from 148,186 units at $2,718,598, previously. An average of 22,041 units traded at $780,488 compared to 8,233 shares at $151,033 on Wednesday, with trading month to date averaging 41,320 units at $371,883 versus 42,372 units at $349,596. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four stocks with lower offers.
At the close, Agostini’s fell 74 cents to close at $45 in trading 30 shares, Angostura Holdings ended unchanged at $19.99, with 314 stocks crossing the market, Ansa McAl declined $2.50 in closing at $57 trading 61,190 units. Clico Investment Fund rallied $1.50 to $30, with 89 stock units changing hands, First Citizens Group gained 25 cents to end at $64.75 in exchanging 885 stock units, FirstCaribbean International Bank finished at $6.14 in an exchange of 30 shares. GraceKennedy dropped 4 cents to close at $6.16 while exchanging 4,435 units, Guardian Holdings remained at $30 after 4,691 stocks crossed the market, JMMB Group slipped 4 cents to $2.47, after 5,224 shares changed hands. L.J. Williams B share shed 8 cents in closing at $1.72, with 2,025 stock units clearing the market, Massy Holdings shed 1 cent to $105.99 with the swapping of 77,085 stocks, National Enterprises remained at $3.25 after exchanging 15 units. 
National Flour Mills lost 5 cents after ending at $1.87 in switching ownership of 1,152 stocks, NCB Financial Group dropped 3 cents in closing at $8 after exchanging 224,190 units, Scotiabank fell $2 to close at $72 with an exchange of 3,146 stock units. Trinidad & Tobago NGL declined 1 cent in closing at $19.99 trading 390 shares, Trinidad Cement finished at $3.80 after 9,314 shares changed hands and West Indian Tobacco shed 1 cent to $27.98 while exchanging 2,526 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading falls on TTSE
Market activity resulted in more stocks rising than falling at the close of trading on Wednesday after an exchange of 81 percent fewer shares, with a 73 percent lower value than on Tuesday, at the close of the Trinidad and Tobago Stock Exchange.
A total of 18 securities traded compared to 19 on Tuesday, with four rising, five declining and nine remaining unchanged. The Composite Index lost 2.35 points to 1,529.81, the All T&T Index lost 13.09 points to close at 2,138.73 and the Cross-Listed Index gained 1.28 points to settle at 123.09.
A total of 148,186 shares traded for $2,718,598 compared to 796,016 shares at $9,919,652 on Tuesday. An average of 8,233 units traded at $151,033 compared to 41,896 shares at $522,087 on the previous day, with trading month to date averaging 42,372 units at $349,596 versus 44,341 units at $361,051. 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 three stocks with lower offers.
At the close, Agostini’s lost 26 cents to close at $45.74 in trading 45 shares, Angostura Holdings ended at $19.99, with 742 stock units changing hands, Calypso Macro Investment Fund rallied $2.34 to close at a 52 weeks’ high of $19 while exchanging 6 units. Clico Investment Fund dropped $1 to end at $28.50, with 63,138 stocks crossing the market, First Citizens Group declined $1 in closing at $64.50 after 481 stocks changed hands, GraceKennedy finished at $6.20 trading 4,190 stock units. 
Guardian Holdings fell 20 cents in closing at $30 with an exchange of 562 units, Guardian Media remained at $3.10, with 2,000 shares crossing the exchange, JMMB Group popped 27 cents to $2.51 after exchanging 12,441 stock units. L.J. Williams B share finished at $1.80 in an exchange of 2,123 stocks, Massy Holdings ended unchanged at $106 in swapping 4,163 units, National Enterprises remained at $3.25 trading 3,000 shares. NCB Financial Group increased 2 cents to end at $8.03, with 3,607 shares clearing the market, One Caribbean Media ended unchanged at $4.20 in switching ownership of 50,000 stock units, Prestige Holdings held at $7.05 with the swapping of 688 stocks. Republic Financial Holdings shed $1.70 in ending at $141.30 after exchanging 130 units, Scotiabank climbed $1.99 to $74, with 820 stocks crossing the market and West Indian Tobacco finished at $27.99 with an exchange of 50 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
