Friday, 30th August 2013 | This week’s trading on the T&T stock exchange was almost all about Trinidad Cement as the stock shot up to a new 52 weeks high on Friday at $2.94 at the close, gaining 38 cents on the day as 472,131 units traded valued at $1,387,609. The stock gained 89 cents or 42 percent during the week. The price advance may cool for a few days as the stock closed with the offer 46,481 units at the last selling price and the bid was for only 528 units at $2.75. The rapid movement may keep buyers from chasing the price for awhile until demand come closer to supply. Next week will tell. The fundamentals nevertheless support further gains.
Jamaica Money Market Brokers traded 700,000 shares firm at 50 cents for a value of $350,000; National Flour Mills contributed 148,444 shares with a value of $111,333; while Sagicor Financial Corporation added 23,200 shares valued at $158,920 as the stock price gained 30 cents to end at $6.85. Point Lisa traded 6,946 units gained 9 cents to close at $3.75; Grace Kennedy traded 4,000 units firm at $3.30; Clico Investment Fund had 7,500 shares changing hands valued at $161,283 and closed firm at $21.50. At the close the bid for Clico was at $21.60.
Today’s volume was 1,362,951 shares valued at $2,225,638 as 9 securities traded of which 3 advanced, none declined and 6 traded firm.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 4 stocks were higher with 3 stocks having offers lower than their last selling price.
Image courtesy of Photokanok/FreeDigitalPhotos.net
[…] Trinidad Cement (TCL) gained 42 percent in the week and more than 200 percent since May. Questions may be asked as to how much further it can go but the PE ratio chart still has the TCL stock as the one with the greatest potential for growth in the market. It has more room to run before it is fully valued based on this year’s company profit performance so it’s still worth either buying or holding on to. […]