Stock Market update Business September 24, 2004
Stabroek News
September 24, 2004

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September's third session also saw the third consecutive week of losses with falls in DDL (down 7.6%), BTI (down 6.3%), DTC (down 2.2%) and NBI (down 0.8%).

The only stocks traded which bucked the downtrend were DIH, remaining level at 4.6 and GSI somewhat surprisingly up 14.6% despite the publication of year-end earnings data showing a 47% fall in earnings per share from the previous year-to-date figures shown in the interim results.

On closer inspection movements of this magnitude are not entirely to be unexpected - all shares which moved ended at or within the bid offer spread from the previous session - volatility is occurring because of wide spreads and the majority of new orders switching from being bids (orders to buy) to offers (orders to sell) rather than a fundamental change in the market.