Business

BISX Index down 120 points

The Bahamas International Securities Exchange’s (BISX) All-Share Index closed the first half of the year down nearly 120 points to settle at 1,972.76.

At the end of June, the index was down 119.7 points, which represents a 5.72 percent year-to-date decrease and is a continued decreasein the markets since 2020, when the COVID-19 pandemic struck and the markets closed down 6.23 at the end of December.

During the same period in 2020, the BISX All-Share Index closed at 2,124.69.

“As at June 30, 2021, the market was comprised of 20 ordinary shares with a market capitalization of $4.273 billion,” the BISX quarterly statistical report noted.

“In addition, there were eight preference shares with a market capitalization of $249 million, 11 Bahamas government stock bonds as well as corporate bonds with a face value of $470 million and approximately 200 tranches of Bahamas registered stock with a face value of $3.3 billion.

“As at December 31, 2020, BISX had 74 mutual funds with total assets under management of approximately $5.4 billion. This total includes 20 Bahamian mutual funds with total assets under management of $771 million and 54 offshore mutual funds with total assets under management of $4.6 billion.”

Bahamas government registered stock did bolster market capital which saw an increase from 2020 to 2021.

As a result, total market capital stood at $8.299 billion at the end of June – $3.77 billion of which was debt, compared to $5.28 billion in June 2020.

Trading volume ended on the upswing by the end of the second quarter with 7.29 million shares for a value of $36.53 million.

Trading volume for the six-month period January 2, 2020, to June 30, 2020, was 2,624,048 shares for a value of $11,622,255.68.

“Trading volume for the three-month period April 1, 2021, to June 30, 2021, was 2,101,291 shares for a value of $11,539,873.88. Trading volume for the three-month period April 1, 2020, to June 30, 2020, was 1,173,646 shares for a value of $3,762,345.12,” the report read.

“For the six-month period from January 2, 2021 to June 30, 2021, the average volume per trading day was 55,331 shares for a value of $281,907.85. By comparison, for the six-month period from January 2, 2020 to June 30, 2020, the average volume per trading day was 21,200 shares for a value of $93,128.23.”

The top share value leaders for the first half of the year were AML Foods at 35.3 percent of trade value or $12.88 million, followed by Cable Bahamas at 21.3 percent of trade value of $7.76 million, and FOCOL at five percent or $1.84 million.

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Paige McCartney

Paige joined The Nassau Guardian in 2010 as a television news reporter and anchor. She has covered countless political and social events that have impacted the lives of Bahamians and changed the trajectory of The Bahamas. Paige started working as a business reporter in August 2016. Education: Palm Beach Atlantic University in 2006 with a BA in Radio and Television News

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