SECURITIES and mutual funds listed on the Bahamas International Securities Exchange (BISX) had a $9.4 billion collective value at mid-2018, even though domestic stock prices were down 4.46 percent for the half-year.
The exchange, unveiling its mid-2018 report, said its BISX All-Share Index – which measures the movement of stock prices alone, excluding dividends – dropped by slightly more than the prior year’s 3.78 percent decline.
“As at June 29, 2018 the market was comprised of 19 ordinary shares with a market capitalisation of $4.162 billion,” BISX said. “In addition, there were 13 preference shares with a market capitalisation of $327.25m and 19 bonds with a face value of $579m. As at 31 December, 2017, there were 48 mutual funds listed on BISX with approximately $4.4 Billion in assets under management.”
The market capitalization for ordinary shares is somewhat skewed by the presence of CIBC FirstCaribbean, but the collective value of listed securities - equity and debt – now stands at almost $5 billion, representing a slow but steady increase on prior years.
The BISX All-Share Index’s half-yearly decline was in line with other global stock market indices, with the MSCI Emerging Market Index down 8.53 percent for the same period. London’s FTSE 100 Index was off slightly by 0.15 percent, with only the S&P 500 Index up – and narrowly at that, by 0.84 percent.
As for investor activity on BISX, the exchange said: “Trading volume for the six-month period January 2, 2018, to June 29, 2018, was 3,868,181 shares for a value of $22.134m.
“Trading volume for the six-month period January 1, 2017, to June 30, 2017, was 2,350,303 shares for a value of $15.737 million.”
BISX continued: “Trading volume for the three-month period April 1, 2018, to June 29, 2018, was 1,217,120 shares for a value of $8.81m.
“Trading volume for the three-month period April1, 2017, to June 30, 2017, was 1,354,166 shares for a value of $9.422m.”
Breaking it down by the day, BISX added: “For the six-month period from January 2, 2018, to June 29, 2018, the average volume per trading day was 31,478 shares for a value of $178,564.
“By comparison, for the six-month period from January 1, 2017, to June 30, 2017, the average volume per trading day was 18,328 shares for an average value of $122,923.”
Commonwealth Bank led trading volumes for the six months to end-June 2018, accounting for 38.7 percent of the total with almost 1.5m shares changing hands.
AML Foods was in second spot, with 952,743 shares trading, accounting for 24.6 percent of market activity, and FOCOL in third at 12 percent.
On the value front, Commonwealth Bank again led the pack at $6.646m and 30 percent of the total value of shares traded.
AML Foods and FOCOL Holdings also retained the same spots, accounting for 15.4 percent and 8 percent, respectively.