Market activity ended on the Trinidad and Tobago Stock Exchange on Monday, with the market declining after investors traded 55 percent fewer shares than on Friday, resulting from more stocks falling than rising.
The market closed with eleven securities trading with one advancing, six declining and four unchanged. The volume of stocks passing through the market amounted to 106,336 shares valued at $2,270,419 compared to 237,902 shares for $12,141,404 on Friday from 10 securities.
The average trade for the day amounted to 9,667 units at $206,402 versus an average of 23,790 stock units for $1,214,140 for each security on Friday. An average of 13,288 units traded at $348,895 for the month to date versus 13,610 units at $361,535 up to Friday. July closed with an average of 12,712 shares for $166,390.
The T&T Composite Index fell by 2.37 points to 1,316.31. The All T&T Index dropped 5.90 points to 1,778.46, while the Cross Listed Index gained 0.16 points to close at 115.41.
IC bid-offer Indicator│ The Investor’s Choice bid-offer indicator ended with the bids of five stocks higher than its last selling price and four with lower offers.
Stocks rising│ JMMB Group picked up 3 cents to end the day at $1.93, with 44,490 shares changing hands.
Stocks declining│ Ansa Merchant Bank shed 30 cents to close at $36, in transferring 1,394 units, First Citizens Bank finished 45 cents lower at $46.30, with an exchange of 6,959 stock units, Guardian Holdings lost 1 cent trading 215 units to end at $19.34. 
Massy Holdings declined $1 to $59, with 2,270 units changing hands, Prestige Holdings slid 20 cents to $8, after transferring 8,069 stock units and Republic Financial Holdings lost 2 cents and closed at $141.25, in trading 4,015 stock units.
Stocks trading firm│ Clico Investments exchanged 37,014 shares at $27.78, NCB Financial Group transferred 1,400 units at $7.87, Scotiabank held firm at $54.90, with 160 units crossing the market and Unilever Caribbean was unchanged at $17, in trading 350 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
This week’s focus: 138 Students Living reported a 44 percent increase in revenues to hit $334 million from $223 million in the June 2019 quarter and a 60 percent rise in the nine months to $1.09 billion. The company moved from a loss of $17 million in the 2019 third quarter to a profit of $132 million in 2020 and from a loss of $60 million in the nine months to June, to a profit of $402 million. Operating cost fell in both periods compared with the 2019 cost. The big problem is that the company continues the extremely poor practice of not showing operating and administrative expenses separately, making it impossible to see what gross margins are. The significant increase in profit is due to claims made on the University going back to 2019, which are booked in the current year that distorts earnings from ongoing operations. 
While earnings per share for the quarter is an attractive 32 cents and year to date 97 cents. Earnings from ongoing operations suggest that the full year’s results should be in the order of 40 cents after a regular tax charge.
The average projected gain for the Junior Market IC TOP 10 stocks is 278 percent, and 152 percent for the JSE Main Market, based on 2020-21 earnings, an indication of potentially more significant gains in the Junior Market than in the Main Market.
Trading ended with 27 securities changing hands compared to 31 on Thursday and ended with the prices of eight stocks rising, the prices of nine declining and ten with remaining unchanged.
For the month to date, the average trade resulted in an exchange of 136,446 shares at $382,221, in comparison to 137,315 units at $373,348 on Thursday. Trading to date compares adversely to July, with an average of 248,153 units at $668,727.
General Accident dropped 15 cents to end at $7.20 in exchanging 11,944 stocks, iCreate lost 3 cents to settle at 65 cents in an exchange of 83,321 stock units, ISP Finance fell 41 cents to settle at $14.59, with ten shares changing hands, Jamaican Teas dropped by 50 cents to settle at $4.50 in trading 1,956,594 stock units. Lasco Distributors carved out a loss of 6 cents in closing at $3.34 and exchanging 20,587 stock units, Lasco Manufacturing added 9 cents in closing at $3.99 in trading 26,000 stocks, Limners and Bards gained 9 cents to finish at $2.80 with an exchange of 6,853 shares. Lumber Depot increased 2 cents in closing at $1.05 and trading 2,100 units. Medical Disposables rose 9 cents to $5, with 5,387 stock units crossing the exchange, SSL Venture carved out an increase of 11 cents to close at 86 cents, with an exchange of 1,500 units and Stationery and Office Supplies lost 20 cents to close at $5.60 in trading 44,707 shares.
At the close, the All Jamaican Composite Index gained 833.71 points to settle at 404,181,98, the Main Index carved out a rise of 772.67 points to end at 368,870.639 and the JSE Financial Index added 0.05 points to close at 95.70.
Trading ended with an average of 468,316 units changing hands, for the day at $5,144,3583 for each security, in comparison to an average of 909,763 shares at $3,152,673 on Thursday. The average trade for the month to date, ended at 409,246 units at $2,120,026, for each security, in contrast to 401,777 units at $1,737,639 on Thursday. Trading month to date compares well to July, with an average of 392,128 shares for $2,444,356.
Jamaica Producers increased 90 cents to end at $22.90 and finishing with 8,565 shares changing hands, Jamaica Stock Exchange lost 54 cents to close at $20 in trading 130,275 stock units. JMMB Group rose $1.15 to settle at $31.15, trading 23,103 shares, Key Insurance gained 92 cents to end at $7.99 in exchanging 19,577 stock units, MPC Caribbean Clean Energy carved out a gain of $2 in ending at $152 and finishing trading of 800 stock units. Palace Amusement dropped $93.83 to close at $1,690 with investors switching ownership of 10 units, PanJam Investment jumped $3.50 to $72 with an exchange of 86,201 stock units, Proven Investments carved out a gain of 21 cents to close at $34.01 in trading 12,430 stock units. Scotia Group carved out a loss $1.95 in ending at $44.05 in exchanging 102,735 shares, Seprod climbed 99 cents to $54.99, with 7,744 stocks changing hands and Wisynco Group lost 29 cents to end at $17.50 clearing the market with 177,442 stock units.
The market closed with ten securities trading, up from seven on Thursday as ended, with the prices of three stocks advancing, three declining and four remaining unchanged. Stocks passing through the market amounted to 237,902 shares valued at $12,141,404 compared to 219,249 shares for $6,747,616 on Thursday.
Stocks declining│ First Citizens Bank shed 24 cents to settle at $46.75, with 32 units crossing the market, Grace Kennedy lost 5 cents exchanging 75,000 shares and ending at $3.60 and Trinidad and Tobago NGL closed 50 cents lower at $17 trading 30,410 shares.
Trading on Thursday ended with a similar number of securities changing hands as Wednesday with market activity resulted in 31 securities changing hands, with the prices of eight stocks rising, 17 declining and six, with remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows five stocks ended with bids higher than their last selling prices and three with lower offers.
Honey Bun declined by 23 cents to $5.10 with investors switching ownership of 5,302 shares, iCreate gained 5 cents in closing at 68 cents with 198,879 stock units changing hands, Indies Pharma declined by 10 cents to $2.80, with 129,500 stocks clearing the market. Jamaican Teas lost 2 cents to settle at $5 in exchanging 247,818 stock units, Jetcon Corporation declined by 2 cents to 98 cents in trading 61,870 shares, Lasco Distributors advanced by 19 cents to $3.40, with 93,492 stock units changing hands. Lasco Manufacturing carved out a gain of 13 cents to end at $3.90 trading 13,717 stock units, Limners and Bards shed 8 cents to close at $2.71 after 116,115 stock units crossed the market, Lumber Depot lost 1 cent to settle at $1.03 with an exchange of 130,838 stock units. Mailpac Group lost 2 cents in ending at $2.08 finishing at 1,018,454 units, Main Event carved out a gain of 3 cents to end at $3.99 in exchanging 800 stocks, Medical Disposables declined by 2 cents to close at $4.91, with 12,100 stocks changing hands and Paramount Trading carved out a gain of 4 cents to end at $1.79 in an exchange of 10,700 shares.
Trading ended with an average of 909,763 units changing hands for the day at $3,152,673 for each security, in comparison to an average of 152,000 shares at $1,199,070 on Wednesday. The average trade for the month to date ended at 401,777 units at $1,737,639 for each security, in contrast to 330,159 units at $1,538,143 on Wednesday. Trading month to date compares well to July with an average of 374,929 units at $2,445,605 (392,128 shares for $2,444,356.
Kingston Wharves climbed 50 cents to $53, with just 2,071 units passing through the market, Mayberry Investments carved out a loss 75 cents to settle at $5.15 in an exchange of 19,239 shares, Mayberry Jamaican Equities dropped by 45 cents to close at $8.75 with investors wapping 152,360 units. NCB Financial climbed $7.88 trading 65,722 stock units at $137.90, PanJam Investment rose $1.75 to end at $68.50, with 11,860 shares changing hands, Proven Investments dropped $1.90 in ending at $33.80, with 2,500 stocks passing through the market. Sagicor Group increased by $4 to close at $44 in exchanging 682,448 stocks, Salada Foods shed $2 to settle at $25 after exchanging 42,000 units, Scotia Group dropped $1.73 to end at $46 in an exchange of 3,707 stocks. Seprod lost $2.24 to close at $54 in an exchange of 16,518 stocks, Stanley Motta rose 38 cents to settle at $5.13 with investors switching ownership of 37 shares, Supreme Ventures lost 65 cents to end at $14.50 with investors trading 152,771 shares. Victoria Mutual Investments declined by 37 cents to $6.57 with 69,669 stock units changing hands and Wisynco Group gained 58 cents to end at $17.79, with 11,650 stocks clearing the market.
At the close of the market, trading ended with four securities changing hands compared to seven on Wednesday and ended with the prices of no stocks rising, two declining and two remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
The market closed with seven securities trading with five stocks advancing, one declining and one unchanged. The volume of stocks passing through the market amounted to 219,249 shares valued at $6,747,616 compared to 31,676 shares for $665,454 on Wednesday from 11 securities.
Stocks rising│ Clico Investments advanced by $1.28 to $27.78, with 39,728 shares changing hands, Massy Holdings closed $2 higher at $60, in trading 87,629 shares, NCB Financial Group picked up 1 cent to finish at $7.87, with 4,500 stock units crossing the market. Republic Financial Holdings exchanged 714 units at $141.25, having gained 25 cents and Trinidad and Tobago NGL ended at $17.50 after rising 25 cents and trading 1,183 units.
For the month to date, the average trade is 330,159 units at $1,538,143 for each security that traded, in contrast to 360,995 units at $1,596,828 to Tuesday. Trading for the month to date compares well to July with an average of 392,128 shares for $2,444,356.
Key Insurance carved out a gain of 50 cents ending at $7.50 with investors swapping 1,135 units, Kingston Properties increased 57 cents to $7.60 after exchanging ten units. Kingston Wharves declined by $1.30 to close at $52.50 passing through the market 7,089 stock units, MPC Caribbean Energy declined by $19.85 to settle at $150 in trading 770 stock units, NCB Financial fell by $6.98 in closing at $130.02, with 222,268 shares passing through the market. Proven Investments increased 30 cents to settle at $35.70 in an exchange of 27,348 shares, Sagicor Group advanced by 90 cents in ending at $40 after trading 52,290 units, Salada Foods dropped by $1 to end at $27 in an exchange of 1,000 shares. Seprod advanced by $1.24 to close at $56.24 after trading 5,507 stocks, Sygnus Credit Investments shed 31 cents to close at $15.99 with 7,381 stocks changing hands and Wisynco Group shed 67 cents to end at $17.21 with investors swapping 82,451 units.
