Decline of $1.90 in the price of Scotia Group shares along with 9 other stocks, dented the value of the main market of the Jamaica Stock Exchange on Tuesday, as price movements between winners and losers are close to even as 25 securities traded.
The market suffered large fall in the two main indices with the All Jamaica Composite Index dropping 3,458.79 points to close at 281,912.79, as the 290,000 points resistance is proving a challenge to the market for the time being. The JSE Market Index sank 3,151.35 points to 256,854.43. The JSE US dollar market index added 0.40 points to 187.99.
At the close of trading, 25 securities changed hands in the main market with 4 trading in the US dollar market, leading to 9 stocks advancing and 11 declining. The main market ended with 4,433,242 units valued at $88,443,092 changing hands compared to 1,991,216 units valued at $25,521,205 on Monday. Trading in the US dollar market accounted for 110,250 units valued at US$31,004, bringing the total of all trades to J$92,473,610.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 177,330 units valued at $3,537,724 for each security traded compared to an average of 82,967 units valued at $1,063,384. The average volume and value for the month to date ended at 278,353 units with an average value of $2,866,580 compared with an average of 284,296 units with an average value of $2,829,294 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.
Archives for September 2017
Forex inflows up to US$45m – Tuesday
Inflows of all currencies into Jamaica’s forex market rose on Tuesday to US$45.06 million from Mondays’ US$41.73 million, while dealers sold US$49.48 million versus US$40.33 million, previously.
US currency purchases, accounted for US$36.50 million at an average of J$129.26 versus J$129.28 for US$36.29 million on Monday, while dealers sold US$41.60 million at JS$130.45 compared to J$130.52 for US$36.04 million previously.
The selling rate for the Canadian dollar rose to J$106.41 from J$106.06, at the close on Monday. The British Pound was marginally more costly, with J$175.34 buying the British currency versus J$175.30 previously and the euro, fell slightly in value against the Jamaican dollar, with it taking J$156.15 to buy the European common currency, versus J$156.18 previously.
Forex inflows dip to US$42m – Monday
Inflows of all currencies into Jamaica’s forex market dipped on Monday to US$41.73 million from Fridays’ US$51.07 million, while dealers sold US$40.33 million versus US$35.61 million, previously.
US currency purchases, accounted for US$36.29 million at an average of J$129.28 versus J$129.78 for US$40.99 million on Friday, while dealers sold US$36.04 million at JS$130.52 compared to J$131.18 for US$29.71 million previously.
The selling rate for the Canadian dollar fell to J$106.06 from J$106.43, at the close on Friday. The British Pound was less costly, with J$175.30 buying the British currency versus J$176.75 previously and the euro, fell in value against the Jamaican dollar, with it taking J$156.18 to buy the European common currency, versus J$157.29 previously.
Forex inflows jump to US$51m – Friday
Inflows of all currencies into Jamaica’s forex market jumped on Friday of US$51.07 million from Thursdays’ US$30.75 million, while dealers sold only US$35.61 million versus US$26.40 million.
US currency purchases accounted for US$40.99 million at an average of J$129.78 versus J$129.82 for US$28.22 million on Thursday, while dealers sold US$29.71 million at JS$130.81 compared to J$131 for US$24.62 million previously. For the week Purchases by dealers accounted for US$276 million and selling of US$186 million of all currencies.
The selling rate for the Canadian dollar fell to J$106.43 from J$107.09, at the close on Thursday. The British Pound was less costly, with J$176.75 buying the British currency versus J$177.81 previously and the euro, fell in value against the Jamaican dollar, with it taking J$157.29 to buy the European common currency, versus J$158.92 previously.
US$40m for BOJ FX auction
Bank of Jamaica announced that they will be auctioning off US$10 million in each of the next four foreign exchange auction (B-FXITT).
The amount allocated will start next Wednesday, September 27 and end Wednesday October 18. The weekly amounts translate to $40 million and compares with US$65 million made available by BOJ over the past four weeks.
According to the central bank, “each entity may submit up to three bids in the operation. In order to maintain eligibility to access B-FXITT operations each authorized dealer and selected cambio must submit at least one bid. The total value of all bids submitted by each entity must not exceed 20 percent of the auction offer size