The Trinidad and Tobago Stock Exchange gave back some of last week’s gains with the All Trinidad Index closing 0.9 percent lower and the Composite index drifting lower by 1.1 percent, with financial stocks leading the drift downward following a $5 drop in Republic Holdings to a 52 weeks’ low of $112.
The market closed with prices of 11 stocks rising and 9 falling to be slightly more positive than the previous week that closed with 9 rising and 11 declining.
The average PE ratio of the market is.8.27, compared to 5.2 based on the current year’s earnings. The difference between the two graphically illustrates the market’s current undervalued level and by extension the upside potential ahead.
The winning stocks of note for the week are, Endeavour Holdings jumping 95 cents to a 52 weeks’ high of $18, Unilever Caribbean up 50 cents to $11 and Ansa McAl up 20 cents to $60.
Falling stocks had larger price movements than those that gained and pressured the market indices at the close. Republic Holdings ended with a fall of $5 to $112, Ansa Merchant Bank lost $1 in closing at $40, Angostura Holdings fell 80 cents to $15, CIBC Caribbean Bank fell 50 cents to close at $7.50, West Indian Tobacco lost 43 cents to close at a 52 weeks’ low of $5.55, Scotiabank declined by 35 cents to $56.75, Trinidad Cement dropped 31 cents to end at $2.30 and Prestige Holdings fell 20 cents to close at $11.30.
Stocks that could gain more than 100 percent when the market comes back to life, include CIBC Caribbean Bank with a possible gain of 230 percent, the hugely undervalued Guardian Holdings, a stock, with a 480 percent potential, Republic Holdings at 120 percent, Massy Holdings at 100 percent, Trinidad Cement with 350 percent, Eric Solis trading at a new high closes the week with a 400 percent and One Caribbean Media with 300 percent.
Investors should not forget Prestige Holdings with the potential to gain 80 percent.