Thursday, 19th September 2013 | The Trinidad stock market got a big boost on Thursday as the newly listed First Citizens traded as high as $38.45 before retreating to close the day at a last traded price of $34.99 as 579,203 shares changed hands for a value of $21,772,102. At the current closing price, the PE is just over 23 times this year’s earnings, slightly above Scotia Bank’s valuation, suggesting that this level may result in some fluidity in the price. At the close, there are offers for just under 23,000 units at $34.99 and the bid, which was small, was at $34.
The market saw trading in 10 securities of which 5 advanced, 1 declined and 4 traded firm as trading activity accounted for 1,315,380 shares crossing the floor valued at $30,638,799.
Jamaica Money Market Brokers enjoyed another day of good volume with 526,150 shares valued at $263,075 as it closed firm at 50 cents. ANSA McAL contributed 103,242 shares with a value of $6,842,848 it closed firm at $66.28, while Guardian Holdings added 13,945 shares valued at $208,158 as the price moved up to $15 at the close up 58 cents. Trinidad Cement closed at $2.10 an increase of 8 cents as it traded 10,000 units, at the end of trading there was no stock on offer. National Enterprises traded at a new 52 weeks high of $16.06 for 2,000 units and the stock gained 5 cents.
Conversely, Clico Investment Fund traded 67,840 shares valued at $1,448,647 and declined by 20 cents to end the day at $21.35.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 4 stocks being higher and 2 stocks with offers lower than their last selling price.
