Overall Market activity resulted from trading in 12 securities of which three advanced, one declined and eight traded firm. Trading activity on the First Tier Market registered a volume of 107,232 shares crossing the floor of the Exchange valued at $850,699.77. Trinidad Cement Ltd was the volume leader with 48,382 shares changing hands for a value of $126,076.63, followed by Sagicor Financial Corporation with a volume of 25,190 shares being traded for $233,073.79.
National Commercial Bank Jamaica contributed 10,000 shares with a value of $17,000.00, while Capital and Credit Financial Group added 6,460 shares valued at $1,292.00. Republic Bank Ltd enjoyed the day's largest gain, increasing $0.99 to end the day at $81.00 with 2,028 shares being traded. Sagicor Financial Corporation added $0.11 to close at $9.26 while Capital and Credit Financial Group jumped by $0.02 to end the week and the month at $0.20.
Conversely, Trinidad Cement Ltd suffered the day's sole decline, falling $0.13 to end the day at $2.59.
The mutual fund market did not record any activity. Fortress Caribbean Property Fund remained at $5.11.
Praetorian Property Mutual Fund remained at $3.49. Savinvest India Asia Fund remained at $62.51.
The second tier market did not witness any activity. FNCU Venture Capital Company remained at $1.00. Mora Ven Holdings remained at $15.52.
Bank's 1Q income up 12.4%
Republic Bank recorded unaudited profit attributable to shareholders of $265 million for the quarter ended December 31, 2010-a 12.4 per cent increase over the first quarter last year.
In his chairman's comments, Ronald Harford stated that the bank noted "with quiet optimism" that the local economy was beginning to show modest growth.
He also said that the bank expected reduced yields which may adversely affect profit growth.
CL Financial stake worth $6.78 billion
With Republic Bank's share price reaching $81 in yesterday's trading, the 83.6 million shares owned by the financially strapped CL Financial group were yesterday worth $6.72 billion.
Stock market analysts pointed out that CL Financial, the conglomerate which collapsed two years ago, owns 52.3 per cent of Republic Bank-a majority stake in one of the country's largest banks
.