Investors nibble on second day of stock market trading

Stabroek News
July 9, 2003


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Guyana’s Stock Exchange yesterday recorded its first set of trades with 64,000 shares of Banks DIH Limited being traded at $7.50 and 4,500 shares of the Guyana Bank for Trade and Industry (GBTI) being traded at $28 per share.

Trading on the second day since the market opened, concluded at 11.30 am.

Just over four million shares (4,011,000) in Banks DIH were offered at a price of $7.50 with 64,000 being bought.

When the inaugural bell sounded last week Monday, only offers for the selling of shares were made in what appeared to be a ‘cautious’ marketplace.

Three million shares in the National Bank of Industry and Commerce Limited (NBIC) were also on offer with a lowest price (best offer) being accepted at $15. There was an offer at this price for 1,000 shares but because this was an ‘all or nothing’ offer (the block of three million), none was traded. Some 340,000 shares of Demerara Distillers Limited (DDL) were offered at $7.50 although none was traded.

The stock exchange is held every Monday at 11 am at the offices of the Guyana Association of Securities Companies and Intermediaries Inc. (GASCI), Robb Street and Avenue of the Republic, Georgetown. Trading was done yesterday as Monday was Caricom Day.

Last week, Acting Chief Executive Officer of GASCI, Patrick van Beek had told Stabroek News that if the volume of trading substantially increased, more trading days would be added.

Beharry Stockbrokers Limited, GNCB Trust Company and Trust Company Guyana Limited are authorised to trade shares on behalf of investors and companies.

Twelve companies are registered with the Guyana Securities Council (GSC) for trading on the Stock Exchange managed by GASCI. These include Citizens Bank Guyana Limited, JP Santos & Company Limited, Caribbean Container Inc., Demerara Tobacco Company Limited, Guyana Stockfeeds Inc, Sterling Products Limited and Demerara Bank Limited.