$1.78b market capitalisation

DESPITE the share trading on the South Pacific Stock Exchange (SPSE) trading platform falling by more than 50 per cent in terms of volume of shares traded, total consideration and the number of transactions undertaken, the total market capitalisation again increased last week to close at $1.728 billion.

This was after recording $1.725b the week earlier (week ended November 10, 2017) as reported in the SPSE’s market review for last week (week ended November 17, 2017).

A total of only 88,719 shares were traded last week in 19 transactions at a total consideration of $172,092 compared with 264,087 shares traded the week earlier in 82 transactions realising $414,029 in consideration.

In terms of the price movements during the week the SPSE reported that three listed shares experienced price gains while the only price loss was recorded by Free Bird Institute Ltd (FBL) shares, which fell by 0.40 per cent ($0.01) to close last week at $2.47 per share.

Paradise Beverages (Fiji) Ltd (PBF) shares gained $0.02 (0.16 per cent) to close at $12.52 and RB Patel Group Ltd (RBG) shares recorded a new all-time high share price of $3.65 after gaining 1.39 per cent or $0.05. Rice Company of Fiji (RCF) also recorded a gain of 4.42 per cent or $0.17 to close the week at $4.02.

The SPSE reported that as a consequent of the net positive price gains realised during the week the total market cap had increased when compared with the week earlier.

The SPSE also noted high value of new orders at $600,827 which was 69.54 per cent higher than the previos recorded, which was mostly attributed to high sell orders recorded for Vision Investment Ltd and Fijian Holdings Ltd shares.

And Fiji Stock Brokers Ltd was the most active stockbroking house that entered new orders last week.

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