In the past two weeks, the fortunes of the Trinidad & Tobago Stock Exchange were mixed, with prices of 11 stocks rising and 12 declining, resulting in the Composite market Index slipping just 0.57 percent and the All Trinidad and Tobago Index rising 0.43 percent. Several stocks ended up being severely undervalued.
Trinidad & Tobago Stock Exchange Head Quarters
During the past two weeks, financial sector stocks have made meaningful movements, with CIBC Caribbean declined by 49 cents to $8.28 from $7.79, First Citizens rallying 50 cents to $37.50 from $37 and Republic Holdings rose 35 cents to $107.60 from $107.25.
Manufacturing ended after Ansa McAl climbed $1.92 to $46.92 from $45 and Unilever dropped $1.10 to $15 from $16.10. Elsewhere, Endeavour Holdings rallied $2 to $18 from $16, Agostini declined by 50 cents to $59.50 from $60, Prestige Holdings dipped $1.40 to $11 from $12.40 and OneCaribbean Media rose by 30 cents to $2 from $1.70.
The attached chart shows stocks, trading well below the market and sector average; these are the ones with the best potential to profit from. A point worth noting is that while the market may not be in a bullish phase, the two main indices are up over 5 percent for the year to date, the first in some years. This indicates that careful stock selections can be rewarding.
At the close of the past week, the following stocks remained highly undervalued: Scotiabank, CIBC Caribbean, First Citizens, Guardian Holdings, Republic Holdings, Massy Holding, National Flour, Trinidad Cement, Unilever, West Indian Tobacco and Eric Solis