Wednesday, 3rd July 2013 | Scotia Investments traded 131,806 shares for $238,216 on the Trinidad Stock Exchange today, as the stock traded up 3 cents to close at $1.81 or Jamaican value of $28.60 compared to the stock price of $26.25 on the Jamaica Stock Exchange creating an arbitrage situation.
Elsewhere, trading picked up as 17 stocks traded, the most for some time. The end result is that 5 stocks advanced, 2 declined and 10 traded firm.
On the Mutual Fund Market, 1,097 shares changed hands for a value of $5,837. Praetorian Property Mutual Fund was the most active security, with a volume of 990 shares valued at $3,376.
Trading in the main market accounted for 587,979 units valued at $1,725,269 as Trinidad Cement had a volume of 258,135 shares changing hands for a value of $245,228. Sagicor Financial Corporation 93,949 shares with a value of $588,119, National Enterprises had 11,500 shares traded for a value of $182,980. Angostura Holdings chipped in with 4,070 shares with a value of $36,630.
National Commercial Bank Jamaica added 58,152 shares valued at $69,914.
One Caribbean Media Limited closed at a 52 weeks high of $17.40, increasing by 10 cents.
IC indicator | At the end of trading, the Investor’s Choice bid-offer sentiment indicator shows that bids for 3 stocks were higher with 3 stocks that had offers lower than their last selling price.
West Indian Tobacco Company, which has been on a run from April, is one of the stocks that had a bid above the last selling price.
[…] trade at lower prices based on the 10 for 1 stock split. Scotia Investments, no doubt based on an arbitrage situation that now exists with the stock selling in Trinidad at $28.60 while trading at $26.25 in Jamaica, […]