Securities listed on the Bahamas International Securities Exchange (BISX) had a collective worth of just under $5 billion at end-March 2017, even though its market indice declined slightly year-over-year.
BISX’s market data for the 2017 first quarter, released yesterday, showed that its All-Share Index had declined by 1.83 per cent over the three months to end-March.
The All-Share Index, which measures the collective movement of listed stock (equity) prices only, moved in the opposite direction to many leading global stock market indices.
The S&P 500 and FTSE 100 indices appreciated buy 4.65 per cent and 2.02 per cent over the same period, while the MSCI Emerging Market Index jumped 10.36 per cent in the three months to end-March 31.
“For the three-month period ending March 31, 2017, the BISX All-Share Index closed at 1,902.75. This represents a year to date decrease of -33.46 or -1.83 per cent,” BISX said yesterday, noting that this compared to a 2.74 per cent increase for the same period last year.
The BISX All-Share Index only measures the collective movement in prices of listed equity stocks, and does not account for dividend payments to shareholders, so does not reflect total investor returns.
The All-Share Index also excludes debt securities, meaning it does not reflect the total value or worth of all instruments listed on the exchange.
“As at March 31, 2017, the market was comprised of 20 ordinary shares with a market capitalisation of $4.041 billion,” BISX said.
“In addition, there were 13 preference shares with a market capitalsation of $327 million, and 19 bonds with a face value of $579 million.”
BISX added that trading activity for the 2017 first quarter saw an increase in volumes, but the collective value of shares changing hands was down year-over-year.
“Trading volume for the three-month period January 1, 2017, to March 31, 2017, was 996,137 shares for a value of $6.315 million,” the exchange said.
“By comparison, trading volume for the three-month period January 1, 2016, to March 31, 2016, was 899,125 shares for a value of $7.337 million.”
BISX added: “For the three-month period from January 1, 2017, to March 31, 2017, the average volume per trading day was 16,097 shares for a value of $ 303,499.
“By comparison, for the three-month period from January 1, 2016, to March 31, 2016, the average volume per trading day was 14,457 shares for a value of $118,280.”
When it came to market leaders, AML Foods was the most active stock by volume, accounting for 53 per cent or 519,639 of total shares traded. Cable Bahamas took second place, accounting for 16 per cent of total volume with 153,581 shares traded.
AML also led on the value of shares traded, accounting for 36 per cent or $2.276 million of the total worth changing hands.
Behind it came FOCOL Holdings, Commonwealth Bank and Cable Bahamas, who accounted for 13 per cent, 12 per cent and 11 per cent, respectively, of the total value of shares traded.