Session 62 trading results showed a consideration of $7,086,200 from 487,000 shares traded compared to the previous week's result of 597,000 shares at a total consideration of $5,388,045. Seven (7) stocks were active this week namely BTI, DDL, DTC, DIH, CBI, NBI and SPL. This session marks the first time seven issues were traded.
DIH stocks traded at $4.9, the same price as the last trade from the previous close but their volumes ran at anaemic levels due to investors' hesitation to buy. Overall, DIH trading involved 3,000 shares, which traded at a Mean Weighted Average Price, (MWAP) of $4.9 and contributed $14,700 to the total consideration. For DDL, 3,000 shares changed at a MWAP of $8.0 generating a consideration of $24,000.
Citizen's Bank stock(CBI) turned in a winning performance to mark its third trade in August with the price holding steady at $13.3. The 450,000 CBI shares traded, represented 92.4 % of total shares and 84.5 % of the total consideration ($5,985,000). GBTI shares were traded at $29.5, up $0.50 from the previous session and contributed $425,500 to the total consideration. A single trade in NBIC saw 10,000 shares changing hands at $11.7, $0.10 down for the previous close.
Meanwhile, trading in DTC involved 1,500 (0.3%) shares, which were traded at a MWAP of $180, $20 up from the previous close and these contributed $270,000 (3.8%) to the total consideration.
Trading in Sterling Products (SPL), after a layoff since session 59, posted a consideration of $250,000 from 5000 shares at $50.0, the same as in session 62. To date CBI has recorded three (3) trades.
 Notes
1 - Interim results
2 - Prospective
EPS: earnings per share for the 12-month period to the date the latest financials have been prepared.
These include 2002 for CCI; 2003-year end for DDL, DTC and GSI and 2004 Interim results for CBI, DBL, NBI, DIH, JPS, SPL and BTI. As such, the majority of these EPS calculations are based on un-audited figures.
P/E Ratio: Price Earnings Ratio = Last trade price / EPS
Dividend yield = dividends paid in the 1ast 12 months / last trade. The dividends paid in respect of the 12-month period immediately prior to the trading session.
August saw the downtrend of July reversed with the market breaking out of the 1000 to 1050 range in which it has been trading since April. Gains in SPL (up 42.9%) led the way with DTC and DDL also posting double digit gains of 12.5% and 11.1% respectively. BTI, CBI and DIH all showed modest improvement, with average prices up 1%, 2.3% and 2.1% respectively. Only NBI lost ground, with a fall of one tic to 11.7. Altogether the gains translated to 21.7 points (2%) on the day and 67.4 index points for the month with the market closing at 1080.4, 6.66% above the level at the end of July.
* Percentage change in market capitalisation does not tie up with percentage change in index for April/May due to the addition of SPL to the index during May.
Now that the market has broken above 1050 it will be interesting if further gains materialise.
With many stocks trading at or close to record highs investor psychology may well play a part in restricting advancement if investors are not prepared to pay more even if the fundamentals do not look unreasonable. Most stocks are now trading at best offer price; wide spreads mean that if prices move to trading at bid because the persistent buyers are replaced with sellers wanting to offload their stock prices could quickly fall in the region of 5-10%.
*The market information provided here is provided for informational and educational purposes only and is provided on a time delayed basis. GASCI does not guarantee the accuracy or completeness of any information contained on this page. Although the information has been obtained by GASCI from sources believed to be reliable, it is provided on an "as is" basis without warranties of any kind. GASCI assumes no responsibility for the consequences of any errors or omissions. GASCI does not make or has not made any recommendation regarding any of the securities issued by any of the companies identified here nor the advisability of investing in securities generally for any particular individual.