Market Activity Review
The overall activity on the SPSE e-trading platform remained healthy with the telecommunications, investment and the manufacturing stocks witnessing trades during the week under review. In aggregate, seven transactions were recorded for the 294,187 shares that exchanged hands to garner $292,889 in value. Moreover, 97.30% of the value traded was being represented by participation of an institutional investor.
Three stocks recorded trades this week, namely; the market heavyweight, Amalgamated Telecom Holdings Limited (ATH), which gained 3.33% to end the week at a price of $0.93. Pleass Global Limited (PBP) ascended a further 2.04% to another all-time high share price $1.00 with the restricted stock, Fijian Holdings Limited (FHL) remaining invariable at $3.40. Aggregating the positive price returns for the week resulted in the overall capitalisation of the market to increase 1.46%, which at close of trading on Friday stood at a value of $889,552,936.
The market indicator, SPSE Total Return Index (STRI) also gained 32.30 points or 1.47% reflecting share price increases recorded by ATH and PBP as well as a dividend return of 2.24% generated by VB Holdings Limited (VBH) .
The market capitalisation weighted total return index closed the week of trading at a value of 2226.41. VBH shareholders will be paid their share of dividends on 26th September 2014.
The new order flow once again demonstrated a strong trend mainly due to the partaking in trading by an institutional investor in few of the listed stocks. Excluding the order flows from the institutional investor, an aggregate consideration of $28,610 was recorded, out of which 56.28% reflects an interest to purchase securities on SPSE.
In terms of overall unexecuted orders on the e-trading orders platform, both the total shares on bid and on offer fell by 1.94% and 4.56% respectively. The SPSE bid to offer ratio remained unchanged from prior week and closed at 1:1.
FMF Foods Limited (FMF) now poses as the narrowest bid-offer margin security with a spread of $0.07 with Communications (Fiji) Limited (CFM) standing as the widest bid-offer margin stock having a spread of $1.40.
The SPSE market announcements platform remained relatively quiet just witnessing a single market announcement for the week as PBP announced a change in substantial shareholding for the company.
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Jinita Prasad
Chief Executive
19-09-2014