BISX share trading drops more than 30 percent

BISX share trading drops more than 30 percent
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NASSAU, BAHAMAS — The volume of shares traded on the Bahamas International Securities Exchange (BISX) reduced by a further 36.2 percent year-on-year, according to the Central Bank.

The regulator reported domestic capital market developments were ‘subdued’ during the first three months of the year,  in its quarterly economic review for the first quarter of 2020.

It noted: “Domestic capital market developments were subdued during the first three months of the year. In particular, the volume of shares traded on the Bahamas International Securities Exchange (BISX) reduced further by 36.2 percent to 1,450,402, year-on-year, after decreasing by 14.3 percent in 2019.

“Consequently, the aggregate value of shares traded contracted by 19.7 percent ($1.9 million), to $7.9 million, relative to a decline of 26.5 percent in the previous year.”

The Central Bank further noted that the BISX All Share Price Index fell by 5.1 percent to 2,117.17 points over the quarter, “contrasting with a marginal increase of 0.5 percent in 2019”, with market capitalization stabilizing at $5.3 million, vis-à-vis a gain of 4.5 percent a year earlier.

“In terms of market participants, as at end-March, the number of publicly traded securities listed on the exchange fell by 1 to 37, and comprised 19 ordinary shares, 7 preference shares and 11 debt tranches,” the regulator noted.