BSE’s market cap ends year at $6.8 billion

MARKET Capitalisation, the value of shares on the Barbados Stock Exchange (BSE), was $6.8 billion at the end of last year. This amount is outlined

in the recent BSE Trading Report, which has however noted that trading has been slow for the year to date.

Market capitalisation for 2020 is identical with that reported at the end of 2019, which was a favourable period for the Exchange.

However, like many other public and private sector organisations, the BSE has been affected by the COVID-19 pandemic and this is expected to be reflected in the numbers when the Exchange gives its assessment for last year.

The BSE, which remains a key institution for investments, also put the local stock market index at 3,142.86, also identical to the figure a year earlier. The stock market index measures the stock market.

Trading has gotten off to a slow start in 2021, given also some days on which there was no activity.

During 2020, there were no major movements on share prices on the market. Price increases were reported for Barbados Farms Limited (BFL) and the West India Biscuit Company (WIBISCO), a leading manufacturing firm in Barbados.

Whereas BFL prices inched from 30 cents a share at the end of 2019, to 40 cents a share current, that for WIBISCO moved from $25 a share to the current $31.50 a share.

That makes WIBISCO the highest-priced share on the market as shareholders of the company were paid a dividend as announced by the Directors of the Gills Road, St. Michael company.

There was no trading in the Banks Holdings Limited and the Barbados Dairy Industries Limited stocks in 2020 as both remained suspended by the BSE since 2019.

As a result of the COVID-19 which is affecting Barbados, the BSE said that it has had to institute procedural changes. Just recently, it noted some of the procedures put in place.

Late last year, CEO Marlon Yarde promised that the Exchange will be moving towards the trading of digital assets in 2021. “Digital assets are a burgeoning phenomenon,” Yarde said, while noting that a platform is to be created to undertake such trading.

It is not known how soon this project will come on board.