The total market value of all securities listed on the Bahamas International Securities Exchange (BISX) will be just short of $9bn once the government completes the listing of its debt.
The stock exchange’s 2019 first half report, released yesterday, revealed that the addition of $3.5bn in medium and long-term Bahamas Government Registered Stock bonds will combine with $5.467bn in already listed securities to take total market worth to around $8.967bn.
BISX’s market capitalisation at end-June 2019, which includes 19 listed equity stocks worth $4.626bn and 13 preference shares totalling a collective $327.75m, stood at $4.954bn. Adding in some 13 bond issues, valued at a total $513m, took the total worth of listed securities to $5.467bn.
The total worth of listed securities, according to data published by BISX, has increased by 12.6 percent over a two-year period, rising from $4.854bn in 2017 to $5.467bn at the 2019 half-year.
BISX, meanwhile, said its All-Share Index, which only measures movements in share prices, had increased by 50.51 or 2.42 percent for the six months to end-June 2019. This compared to a 4.46 percent decline for the same period in 2018, but the market’s appreciation still lagged the performance of international equity indices.
The MSCI Emerging Market Index was up 10.38 percent for the half-year, while the S&P 500 and FTSE 100 indices were ahead by 17.2 percent and 10.27 percent, respectively. All had double digit appreciations well in excess of that enjoyed by the BISX All-Share Index.
“Trading volume for the six-month period January 2, 2019, to June 28, 2019, was 4.456m shares for a value of $21.869m,” BISX said. “Trading volume for the six-month period January 2, 2018, to June 29, 2018, was 3.868m shares for a value of $22.134m.
“Trading volume for the three-month period April 1, 2019, to June 28, 2019, was 2.183m shares for a value of $ 12.081m. Trading volume for the three-month period April 1, 2018, to June 29, 2018, was 1.217m shares for a value of $ 8.81m.
“For the six-month period from January 2, 2019, to June 28, 2019, the average volume per trading day was 36,056 shares for a value of $177,209.17. By comparison, for the six-month period from January 2, 2018 to June 28, 2018, the average volume per trading day was 31,478 shares for an average value of $ 178,563.91.”
Commonwealth Bank led trading volumes for the six months to end-June 2019, accounting for 34.9 percent of all shares that changed hands. FOCOL Holdings was in second place, accounting for 23.2 percent of shares traded, with AML Foods in third place with a 10.1 percent share of trading volumes.
Commonwealth Bank was also the value leader for the same period, its shares accounting for 31.4 percent of the total worth traded over BISX. FOCOL Holdings was again the runner-up, with Fidelity Bank (Bahamas) this time beating out AML Foods for third place.