Tuesday, 16th October 2013 | Activity and interest seems to be picking up in a number of undervalued stocks on the Trinidad market now that buying has cooled for First Citizens and some others that appear fully valued.
In today’s trading one such stock that has been languishing, Republic Bank, an IC Insider Buy Rated stock, gained 95 cents to return to a recent 52 weeks high to end the day at $111, but only 714 units traded. Another Buy Rated stock Neal & Massy gained 47 cents to close at $57.01 while trading 4,958 units. Angostura holdings traded 14,000 units to hit $12, a new 52 weeks high, as the price gained 5o cents.
At the end of trading, 18 securities changed hands with 6 advancing, 2 declining and 10 trading firm and resulted in 1,064,639 shares crossing hands, valued at $3,959,599.
First Citizens traded firm at $35 while trading 30,172 units; Grace Kennedy traded 25,597 units firm at $4.15; Jamaica’s National Commercial Bank exchanged 267,850 shares for $316,063, the stock traded firm at $1.18; Jamaica Money Market contributed 237,006 shares with a value of $149,314 as the price moved up 3 cents to close at 63 cents; National Flour Mills added 100,000 shares valued at $95,000, closing firm at 95 cents. Point Lisas Industrial Port Development had trading in 373,888 shares valued $1,413,258.
Clico Investment traded 1,200 shares valued at $25,800 as the price fell 5 cents to close at $21.50.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 6 stocks being higher and 4 stocks with offers lower than their last selling price, suggesting that the market is looking somewhat more bullish than a few weeks ago. The stocks with bids above last selling prices includes a stock that has hardly traded recently, Praetorian Property Fund with a bid at $3.60 for 6,000 shares versus the last sale of $3.41.
Related post | Buy Rated misses & gains so far | TTSE PE: Some stocks lose potential
