Strong gains by DDL push market up 2.2% to all time high
Stabroek News
February 27, 2004
Trading this week saw the average value at which DDL shares were traded up 8% to $7.9, the first time this stock has closed above the price it first traded at of $7.5. The value of DDL has now increased 5.3% since it first traded on the exchange, is up almost 13% since the end of 2003 and has posted a gain of 32% since the all time low in November 2003. Apart from DDL, it was a quite day on the exchange with only DIH seeing activity - up a tick to close at $6.0. Adjusted for the bonus issue, DIH shares now stands at the same value as when it first traded ($7.5*4/5 = $6.0). In fact, of the six stocks which have seen trades this year three have posted double digit gains since the year end. The gains in DIH and DDL translated to 23.4 index points or 2.18% with the index closing at 1,092.3.
* adjusted assuming proposed bonus issue is approved
February 2004 has seen the biggest gains in the value of the market since trading first began on exchange. A portfolio of shares tracking the index is equivalent to investing an amount in each share in the same proportions as that share make-up of the total market capitalisation. The capital return on this portfolio would now be 9.2% since trading began in July 2003 and 21.5% since the end of the previous year. This means returns on the Guyanese stock market for the year 2004 to date beat those on the largest Caribbean exchanges with the JSE up 15.14%, the TTSE up 11.82% and BSE down 1.3% (source: http://www.searchcaribbean.com/servlet-bin/jsp/investment/index.jsp)