Friday, 7th June 2013 | Investors are just biding their time in picking up the stocks they desire in the Trinidad market. No one seems to be pushing up prices aggressively to get supplies. The same seems true for the sellers of stocks that are not in demand as they refuse to lower the prices they are offering. The end result is that prices are inching up or down on very low volume. Trading activity remains subdued on the Trinidad & Tobago Stock Exchange on Friday as only 10 securities traded of which 5 advanced, 1 declined and 4 traded firm. The indices hardly moved with such low market activity and price movements.
In the main market, 203,013 shares crossed the floor of the exchange valued at $5,069,043. Trinidad Cement accounted for more than half of the volume with 110,549 shares changing hands for a value of $105,902, followed by Neal & Massy Holdings with a volume of 61,566 shares traded for $3,632,394. National Flour Mills had 10,327 shares with a value of $7,745 changing hands, while Republic Bank saw 7,801 shares valued at $858,110 crossing the floor of the exchange.
Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 86,520 shares valued at $1,838,550. West Indian Tobacco Company reached an all time high closing at $112 up $1 on the day. Scotia Bank reached an all time high of $70 and so did One Caribbean Media at $17.15.
At the end of the day, bids for 2 stocks were higher and 5 stocks had offers that were lower than their last selling price.
At the end of the day Jamaica Money Market had a bid at 57 cents, the equivalent of J$8.80 and Grace’s bid is $3.90 or J$60.45 but both stocks have no offers at the close. The clear message is that prices of these two will rise in the days ahead. Other stocks that seem clearly poised to move up in price are West Indian Tobacco Company and Scotia Bank. Unilever Caribbean is also poised to rise in price as well.
