Telecommunications, media sector dominate stock market

THE telecommunications and media sector represented 50.59 per cent of the aggregate market value at the end of August while the manufacturers and wholesalers sector had 17.89 per cent occupancy on the e-trading platform.

In its monthly stock market analysis the South Pacific Stock Exchange stated that the third largest contributor to market capitalisation was represented by the investment sector, which tallied at 16.21 per cent while the retail sector, denoted by RB Patel Group Ltd (RBG) stood at 5.54 per cent.

The stock exchange highlighted that the fifth largest contributor to market capitalisation was the finance sector represented by Kontiki Finance Ltd shares and stood at 3.90 per cent in the month of August.

The automotive sector stood at 3.20 per cent at the end of August while the banking sector concluded with 1.16 per cent occupancy while the forestry sector had a 0.91 per cent composition at the end of August with the insurance sector represented by FijiCare Insurance Ltd shares accounted for 0.39 per cent of the overall market value.

The education sector represented by Free Bird Ltd shares, saw its contribution standing at 0.22 per cent at the end of August A comparison of the market capitalisation movement on a 12 monthly basis shows that the aggregate market value grew by 58 per cent over the August 2017 to August 2018 period.

According to the analysis from SPSE the overall market value recorded a growth of 4.06 per cent ($103,069,736) over the month of August and concluded at a maximum value of $2,644,229,245 with the increase in the market value being subsequent to the capital gains recorded for various listed companies.

In terms of monthly growth the SPSE Total Return Index rose by 4.09 per cent (252.90 points) and concluded the month at value of 6432.36.

The SPSE stated that as at the end of August 2018, the total shares on bid fell by 5.80 per cent while the total shares on offer recorded a growth of 4.85 per cent.

The stock exchange said the decrease in the total shares on bid was because of the execution of existing buy orders for companies such as APP, ATH, FMF, PBP, RBG and VBH while the increase in total shares on offer was because of the entry of some additional sell parcels, mainly for KFL shares.

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