The market capitalization of the Guyana Stock Exchange crossed the $1 trillion mark at the end of trading on April 25, 2022.
This was revealed in an advertisement published in today’s Sunday Stabroek by the Guyana Association of Securities Firms and Intermediaries Inc (GASCI), otherwise known as the Guyana Stock Exchange.
The market cap now stands at $1.014 trillion or US$4.8 billion. It rose to that figure of just $18.3 billion by the end of 2003. There was a sharp increase in value between 2017 and 2022. GASCI said the ratio of market capitalization to gross domestic product ( GDP) for Guyana which is a measure of the total value of all publicly traded stocks in a country relative to GDP stood at 34.33% at the end of last year and that is expected to increase this year.
“This achievement is a testament to the strong performance of publicly traded companies and investors’ confidence in the financial future of these companies and the economy as a whole. This trend is most likely influenced by projections of increased earnings future national economies emanating from the oil and gas industry, its supporting industries and other fast growing sectors of the economy,” said GASCI.
GASCI praised publicly traded companies for adding to the pool of wealth for their shareholders as well as brokers and investors who participate in the market.
For many years, the Stabroek Business published on Fridays has contained updates on stock market transactions and the summary of financial data from GASCI.
The Sunday Stabroek also offers the Lucas Stock Index (LSI) which tracks stock prices. Yesterday’s LSI said that for the year to date the index was up 77.1%.
Listed companies include Banks DIH Limited, Demerara Distillers Limited, Demerara Tobacco Company Limited, Guyana Stockfeeds Limited, Republic Bank (Guyana) Limited, Guyana Bank for Trade and Industry, Sterling Products Limited, Caribbean Container Inc, Citizens Bank Guyana Inc., Demerara Bank Limited and Rupununi Development Company Limited.