Telecom And Media Sectors Dominate Market

THE telecommunications and media sector represented 48.41 per cent of the aggregate market value at the end of November while the manufacturers and wholesalers sector had 18.00 per cent occupancy.

This was highlighted by the South Pacific Stock Exchange in its monthly stock market trading report for November.

A look at the market capitalisation by sector shows the investment sector contributed 17.89 per cent, becoming the third largest contributor while the retail sector represented by RB Patel Group Ltd (RBG) shares stood at 5.69 per cent.

Meanwhile the automotive sector has now become the fifth largest contributor to market capitalisation with 4.16 per cent occupancy at the end of November.

Toyota Tsusho (South Sea) Ltd (TTS) and VB Holdings Ltd (VBH) shares represent the automotive sector.

The finance sector stood at 3.14 per cent at the end of November while the banking sector concluded with 1.18 per cent occupancy followed by the forestry sector which had a 0.84 per cent composition at the end of November.

The insurance sector represented entirely by FijiCare Insurance Ltd (FIL) shares accounted for 0.46 per cent of the overall market value while the education sector represented by Free Bird Institute Ltd (FBL) shares saw its contribution standing at 0.21 per cent at the end of November.

The stock market trading report also highlighted that during the month of November, 303 trades were recorded with a collective volume of 274,809 shares totaling to $1,357,372 in value traded.

According to the SPSE, one of the highlights for the month of November was the execution of Fijian Holdings Ltd’s (FHL’s) market based dividend reinvestment trades which remained unexecuted in October. It said these trades originated out of the second interim dividend declared in September 2018. (Reinvestment trading statistics for November — number of trades: 206 trades, volume traded: 11,763 shares and value traded: $82,068). Meanwhile out of the 20 companies listed on the stock market, the top five listed stocks — ATH (46.87 per cent), VIL (14.95 per cent), FMF (11.07 per cent), RBG (5.69 per cent) and PBF (4.57 per cent) — occupied 83.16 per cent of the overall market.

The report also noted that the overall market value recorded a growth of 2.85 per cent ($78,762,423) over the month of November and concluded at an all-time high value of $2,845,579,924. It said the increase in the market value was subsequent to the capital gains recorded for various listed companies.

A comparison of the market capitalisation movement on a 12-monthly basis shows that the aggregate market value has grown by 61.87 per cent over the November 2017 to November 2018 period with the monthly trend depicting a 4.11 per cent average monthly growth in market value over the preceding 12 month period.

The report also highlighted that in terms of monthly growth the SPSE total return index rose by 2.90 per cent (196.02 points) and concluded the month at an all-time high value of 6964.25.

The increase in the accumulation index is consequent to various share price movements (as explained later in this report under the trading summary report) and also subsequent to a dividend return of 2.00 per cent generated by Kontiki Finance Ltd (KFL) shares.

The report showed that as at the end of November 2018, the total shares on bid rose by 33.75 per cent while the total shares on offer fell by 15.98 per cent.

The exchange noted that the significant increase in the total shares on bid was because of the addition of buy order of 100,000 for KGF while the decrease in total shares on offer is because of execution of existing sell orders for KFL and PBF shares. – The Fiji Times