Stock market faces drop in market value

THE stock market recorded a drop in the market value for past month, concluding at $3.27 billion.

According to the South Pacific Stock Exchange (SPX), the decrease in the market value is mainly because of the decrease in share price for Fijian Holdings

Ltd (FHL).

In its June trading analysis the SPX stated that during the month of June 2021, the total quantity of shares on bid stood at 129,407 shares, showing an increase of 0.81 per cent in comparison with the previous month.

It said the increase was mainly because of inclusion new buy orders for entities such as ATH, FHL and BCN.

The exchange also noted that the total shares on offer stood at 3,300,533, revealing an increase of 3.14 per cent in comparison with the month before.

This increase in in shares on offer was mainly because of the inclusion of new sell orders for ATH, RBG, VIL and BCN.

“The bid to offer ratio for the month of June 2021 stood at 1:26, an increase of 1.18 per cent in comparison with the month of May 2021.

“The increase is because of the inclusion of more sell orders as opposed to buy orders during the month,” it said.

The SPX e-trading platform recorded 55 transactions during the month under review with a total volume of 133,220 shares exchanging hands to accumulate $1.6 million in value traded.

Meanwhile, for the month of June 2021, eight out of the 20 listed entities recorded market activities among which four listed securities recorded share price movements.