Six new investors enter the stock market
12 April, 2018, 12:00 am
MORE and more people are becoming aware of the benefits of investing in the stock market and this has been obvious from the number of new investors who entered the market last month.
The South Pacific Stock Exchange recorded six new first time investors who sought investment opportunities in the stock market while five existing investors re-entered the market either to increase their existing shareholding in listed companies.
While some existing investors re-entered the market to increase their shareholdings there were others who planned to diversify their investment portfolio by investing in additional companies.
In its Monthly Stock Market Trading Report for the month of March, the SPSE highlighted that during the month of March this year, 50 per cent of the new investors were represented by individuals and the other 50 per cent were represented by joint/family investors.
The stock exchange also carried out an analysis of the new investors and noted that a review of the new investors by type of employment indicated that majority of the new investors entering the stock market were those employed in the private sector.
It stated that those employed in the public sector ranked second which was followed by retirees and confirmed that the exchange expected an extension to the number of investors by type of employment as the year progresses whereby they expected investors such as farmers and domestic workers among others.
The exchange also noted that majority of the new investors were between the age range of 36 years to 55 years, followed by those between the ages of 26 to 35 and also those greater than 55 years.
Overall trading statistics showed that in aggregate, 71 trades were recorded during the month of March 2018 noting an exchange of 135,083 shares totaling $634,229 in value traded.
The continuing price gains further contributed to the market capitalisation reaching an all-time high of $2.06 billion during the period under review, however, concluded the month at $2.05 billion.