Trading is off to a moderate start in early trading on Tuesday with Scotia Group trading more than 1 million shares and CAC 2000 finally trading after news of its multi million law suit loss to end at $5.10, down from the last traded price of $6.30.
Reasonable volumes came from, Iron Rock Insurance with 94,434 units trading at $3.30, Lasco Distributors with 125,000 shares at $7, Lasco Financial with 494,451 shares changing hands at $3.25, Jamaica Broilers with 500,134 units at $14.50, JMMB Group 7.50% preference shares traded 506,000 units at $1.08 and Scotia Group accounting for 1,024,549 units at $31.50.
The all Jamaica Composite Index climbs 998.42 points to 186,327.87, the Jamaica Stock Exchange Market Index gained 892.76 points to 167,652.03, the Jamaica Stock Exchange combined index rose 816.00 points to close at 180,495.75 and the junior market index eased 1.17 points to 2,435.23.
At 10:30 am, a total of 24 securities traded, resulting in a volume of 2,927,694 shares changing hands carrying a value of $45,399,096, compared to 4,494,219 shares changing hands carrying a value of $8,329,082, on Monday.
The average number of shares traded amounts to 121,987 units compared to 224,711 on Monday. Market activity resulted in 5 stocks falling while the prices of 5 securities rose.
Archives for November 2016
Majors climb in early trading – Tuesday
Business conditions surged
Business and investors’ confidence is climbing with the Bank of Jamaica perceptions of present and future business conditions survey showing strong improvements in the latest reading, done in August this year.
The All-Jamaican stock market composite index also confirms the gains in confidence as can be seen from the chart. The stock market index dipped ahead of the survey numbers and started the rebound earlier than the survey figures.
The future conditions index rose to its highest level on record to 175.7 from 153.0 in the previous survey while the index of present business conditions rose to 211.7 from the 186.8 attained in the previous survey. According to the country’s central bank “Both indices reflected increases in the proportion of respondents of the view that conditions are or will be “better.” In addition, there were decreases in the proportion of respondents indicating that conditions are or will be “worse.”
The construction sector is one area reflecting improved confidence in the economy.
With the stock market moving from 178,203.70 points at the end of August to 185,329 points at the end of October, it is expected that perception of business conditions would have improved over the August levels as the stock market seems to mirror very well the sentiments of the business sector.
