Tuesday, 6th August 2013 | West Indian Tobacco Company traded 27,743 shares valued at $3,247,318 as the stock lost 95 cents to close at $117.05. The stock which is one of the highest on the Trinidad market at nearly 27 times this year’s estimated earnings may be considered pricey and most likely will see a decline in profits due to the sharp 30 percent drop in cigarette sales in Jamaica since it supplies the bulk of cigarettes to Carreras. The stock may be fully priced at these levels.
Overall, there was trading in 12 securities of which 4 advanced, 4 declined and 4 traded firm as the market recorded a volume of 361,037 shares valued at $18.68 million. ANSA Mcal saw 208,344 shares changing hands for a value of $13,808,135, followed by Sagicor Financial Corporation with a volume of 32,516 shares for $227,612 as the price increased by 10 cents to end the day at $7.00. Point Lisas Industrial Port Development Corporation contributed 32,003 shares with a value of $120,742, while Clico Investment Fund posted a volume of 3,600 shares valued at $77,472, the stock advanced by a cent to end at $21.52.
National Enterprises traded 20,300 units firm at $16 and Jamaica Money Market traded 22,662 units at 44 cents.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that the bid for 1 stock, Trinidad Cement, was higher and 1 stock had the offer lower than the last selling price.
