The Bahamas International Securities Exchange's (BISX) All-Share Index more than-doubled its growth rate last year compared to 2018, it was confirmed yesterday.
The Index, which only measures share price movements among BISX-listed equity stocks and excludes dividend payouts to investors, closed 2019 up by 5.79 percent or 122.19 points compared to the prior year-end.
This compared to a 2.22 percent, or 45.88 point, increase during 2018, but the All-Share Index's 2019 growth rate remained well short of that achieved by major global stock market indices in 2019. The likes of the London Stock Exchange's FTSE 100, which finished 2019 up 12 percent, and the MSCI Emerging Market Index, which rose 16.64 percent, enjoyed double or triple the growth rate of BISX's index.
Still, the Bahamian stock exchange said it closed 2019 with a total market capitalisation of $5.531bn, up almost $141m year-over-year. This comprised $5.024bn worth of ordinary stocks and preference shares, which reached their highest-ever valuation, and a further $507m in debt securities.
"As at December 31, 2019 the market was comprised of 19 ordinary shares with a market capitalization of $4.77bn. In addition, there were seven preference shares with a market capitalisation of $244m and 12 bonds with a face value of $507m," BISX said.
Turning to trading volumes and values, the exchange added: "Trading volume for the 12-month period January 2, 2019, to December 31, 2019, was 8.853m shares for a value of $42.746m. Trading volume for the 12-month period January 2, 2018, to December 31, 2018, was 8.52m shares for a value of $41.833m.
"Trading volume for the three-month period October 1 to December 31, 2019, was 2.919m shares for a value of $13.818m. By comparison, for the three-month period from October 1 to December 31, 2018, trading volume was 1.308m shares for a value of $6.352m."
Breaking this down further, BISX added: "For the 12-month period ending December 31, 2019, the average daily trading volume was 35,627 shares, which resulted in an average daily trading value of $172,307. By comparison for the 12-month period January 2, 2018, to December 31, 2018, the average daily trading volume was 34,150 shares for an average value of $167,596.
"During the three-month period from October 1, 2019, to December 31, 2019, the average volume per trading day was 47,091 shares for a value of $222,165. By comparison, for the three-month period from October 1, 2018, to December 29, 2018, the average volume per trading day was 21,097 shares for an average value of $103,982."
Commonwealth Bank was again the market leader for both trading volume and value in 2019. It accounted for 2.794m, or 31.6 percent, of the total shares traded and $12.016m, or 28.1 percent, of the value of those trades.
FOCOL Holdings and AML Foods finished second and third, respectively, for volume of shares traded, with the former also achieving second place on the value of shares traded. Fidelity Bank (Bahamas) took third spot on the value of shares changing hands.