Bahamas Stock Exchange Releases Q1 2009 Results

by Phillip Morton, Investors Offshore.com

14 May 2009

The Bahamas International Stock Exchange has announced that its BISX All-Share Index closed at 1638.80, falling 4.30% during the course of the year, performing 0.7% better than Q1 2008.

The BISX All-Share Index is a market capitalization weighted index comprised of all primary market listings excluding debt securities. As at March 31, 2009, the market was comprised of 24 primary market listings with a market capitalization of USD3.16bn. The primary market securities traded over BISX include nineteen common share listings, one preference share listing and four tranches of debt.

Trade volume significantly declined during Q1 2009 in comparison to last year. During Q1 of 2009, 618,337 shares were traded for a value of USD3,354,900, nearly half of the 1,196,953 shares traded during the comparable period of 2008 for a trade value of USD7,565,800.

For the three month period ended March 31, 2009, the average daily trading volume was 9,815 shares which equaled an average daily trading value of USD53,251.82. During this three month period, January 2009 saw the highest average daily trading volume and value with 13,390 shares and USD67,447.05 trading, respectively.

The top five traded shares for the three month period ending March 31, 2009 were:

• Commonwealth Bank Limited at USD1,223,100, representing 36.46% of total traded value;
• Freeport Oil Holdings Company Limited at USD434,400, representing 12.95% of total traded value;
• Cable Bahamas at USD273,235, representing 8.14% of total traded value;
• Fidelity Bank (Bahamas) Limited at USD267,000, representing 7.96% of total traded value; and
• Bank of the Bahamas Limited at USD228,200, representing 6.80% of total traded value.

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