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Fiji Time: 7:54 PM on Friday 24 May

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Market heavyweights boost trade activity

Frederica Elbourne
Saturday, July 21, 2012

The overall capitalisation of the market rose 4.64 per cent ending the week at $771,114,157.

Adding to the radiance of the trading activities this week were the market heavyweight, Amalgamated Telecom Holdings Limited (ATH), the restricted security, Fijian Holdings Limited (FHL) and the supermarket chain, RB Patel Group Limited (RBG).

ATH witnessed 10 trades with the share price rising 11.43 per cent closing at $0.78 at market close today.

FHL saw trades in 15 transactions with the share price rising 1.08 per cent this week.

RBG saw its share price rise to its all time high of $2.11. In terms of price falls, only a single security, Future Forests (Fiji) Limited (FFF) saw a drop of $0.01 in its share price ending the week at $0.82.

BSP Convertible Notes Limited (BCN) also witnessed trades, however, the share price remained unchanged at $6.15.

In aggregate, 36,323 securities exchanged hands garnering $48,350 in consideration.

In-terms of order flow, $100,884 worth of new orders was registered on the e-trading platform.

Out of the aggregate order flow, 75.91 per cent was represented by an interest to purchase shares in the SPSE listed securities.

The SPSE Total Return Index (STRI) rose 4.64 per cent ending the week at 1754.65.

Describing the accumulation index over the week; On Monday, FHL generated a price return of 1.08 per cent resulting in the index to rise 0.04 per cent.

After remaining idle on Tuesday, the index saw a price return of 7.14 per cent on Wednesday because of the rise in the ATH price.

There was a further positive price return of 2.67 per cent on Thursday from ATH resulting in the STRI to move a further 1.11 per cent.

During trading on Friday, the market saw an aggregate positive return of 0.57 per cent after price movements in ATH, FFF and RBG. The movement in STRI over the week is portrayed below.

There are still two bid-only and now four offer-only securities on the market at the end of trading today with the total volume of securities on bid falling by 9.73 per cent and the total volume of securities on offer falling by 0.62 per cent.

Foster's Group Pacific Limited (FGP) still ranks as the widest bid-offer margin security with a bid to ask spread of $4.18 with BCN now posing as the narrowest bid to offer margin security with a spread of $0.04.

FHL was the only security doing a market release announcing the acquisition of South Sea Cruises Limited.

In upcoming events, the postponed BCN stakeholders briefing from last week will be held on July 25, 2012 at the Reserve Bank building from 9.00am to 10.00am.