December — second busiest trading month

December was the second busiest month of trading for the year 2003 according to the monthly summary from West Indies Stockbrokers Limited (WISE). The summary noted that while December is traditionally a slow month, the two Jamaica-based companies, National Commercial Bank of Jamaica (NCJB) and Jamaica Money Market Brokers (JMMB), which were cross listed last year, accounted for the majority of activity on the floor for the month of December. Total volume of trade climbed to 96,418,026 shares traded valued at $369,353,323.48. NCJB was the volume leader with a total of 39,448,624 shares traded or 40.91 percent of the total trades for the month.

JMMB followed closely with a total of 34,804,350 shares traded or 36.10 percent of all trades. In a distant third was Angostura Holdings with a total of 7,135,528 shares traded or 7.40 percent of total volume. First Caribbean International Bank (FCIB) was next with 5,013,500 shares traded or 5.20 percent of total volume. Volume was heaviest in the Banking Sector where a total of 47,752,482 shares were traded, accounting for 49.53 percent of all trades in December. The Non-Banking Finance sector was also very active with a total of 36,528,323 shares exchanging hands and representing 43.47 percent of total volume. The market indices continued to move upwards with the Composite Index inching up 13.4282 points or 1.97 percent to close the month at 694.1296. The All TT Index closed December at 911.9677, up 24.8790 points or 2.80 percent. Advances outnumbered declines in December by a 17 to 5 margin. BWIA (WI) Airways lead the advancing shares, up 39 cents (22.16 percent) to close at $2.15.

The other major advances were National Enterprises Limited (NEL) up 54 cents (10.06 percent) to an all time high of $5.91; Prestige Holdings up 40 cents (10 percent) to $4.40; Trinidad Cement Limited up 52 cents (9.49 percent) to $6; Grace Kennedy and Co up 35 cents (6.42 percent) to close at $5.80 and RBTT Financial Holdings up $1.30 (3.95 percent) to $34.20. Capital and Credit Merchant Bank (CCMB) lead the shares on the decline with the share price falling 10 cents (11.11 percent) to $0.80. The other major declines were Agostini’s down 35 cents ($5.51 percent) to $6, Angostura Holdings down 16 cents (3.63 percent) to $4.25; NCJB down 4 cents (2.50 percent) to $1.56 and Scotiabank TT down 10 cents (0.36 percent) to $27.70.