The Tribune

THE Bahamas International Securities Exchange's (BISX) All-Share Index continues to move in the opposite direction to major market indices, declining by 3.73 per cent for the year to end-September 2017.

The All-Share Index, which measures only stock price movements and excludes dividends, fell by 72.33 points to 1,865.88 for the first nine months of 2017. This contrasts with the 6.79 per cent increase experienced in during the same period for 2016.

The BISX All-Share Index's decline also contrasted with major world markets. The S&P 500 Index and FTSE 100 Index both appreciated by 12.53 per cent and 3.22 per cent, respectively, during the first nine months of 2017, while the MSCI Index Emerging Market Index jumped 25.45 per cent over the same period.

While the value of shares traded over BISX increased by 43.9 per cent year-over-year, volumes for the year to end-September 2017 fell by 10.5 per cent.

"Trading volume for the nine-month period January 1, 2017, to September 29, 2017, was 3,414,260 securities for a value of $36.445 million," BISX said. "By comparison, trading volume for the nine-month period January 1, 2016, to September 30, 2016, was 3,813,602 securities for a value of $25.322 million.

"Trading volume for the three-month period July 1, 2017, to September 29, 2017, was 1,063,957 securities for a value of $20.708 million. By comparison, trading volume for the three-month period July 1, 2016, to September 30, 2016, was 852,915 securities for a value of $9.871 million." Average daily trading volumes fell from 20,420 shares per day in 2016 to 17,811 shares this year, while the daily value jumped from $134,582 to $193,974.

Colina Holdings (Bahamas) was the most widely traded stock, accounting for 23.9 per cent or 807,589 shares.

It was closely followed by Commonwealth Bank, which enjoyed a 20.5 per cent share of market volume, and AML Foods at 18.7 per cent.

Cable Bahamas was the fourth most widely traded stock for the nine months to end-September with an 11.8 per cent share.

Commonwealth Bank was the value leader, with shares worth $7.133 million traded during the nine months to end-September 2017. Meanwhile, two separate Bahamian government debt issues collectively accounted for 30.4 per cent of market value, generating more than $11 million worth of activity.

BISX's total market capitalisation at end-September 2017 was $4.75 billion. This includes its 20 listed stocks worth a collective $3.944 billion; 13 preference share issues valued at $327.25 million; and 19 bonds worth $579 million.