The Jamaica Stock Exchange main market ended August on a high and a 14.2 percent gain for the first 8 months of the year. The market chalked up no less than 8 record highs on the final day of the month and ended at a new closing high.
The market closed with the All Jamaican Composite Index surged 6,899.76 points to end at 361,566.65 and the JSE Index jumped 6,286.47 points to 329,428.09.
Market activities resulted in 34 securities trading including 3 in the US dollar market compared to 30 securities trading on Thursday. At the end of trading, the prices of 18 stocks rose, 9 declined and 7 closed trading, unchanged.
Trading in the main market ended with 8,271,949 units valued at $100,951,929, compared to 11,133,718 units valued at $276,180,979 on Thursday. The day’s volume was led by, Sygnus Credit Investments with 2,997,650 shares accounting for 36.24 percent of the volume traded, followed by WISYNCO Group with 1,451,195 units and 17.54 percent of the day’s volume and JMMB Group 7.50% preference share with 921,715 units and 11.14 percent of main market volume.
Trading resulted in an average of 266,837 units valued at over $3,256,514, in contrast to 383,921 shares valued at $9,523,482 on Thursday. For the month to date an average of 224,564 shares valued at $4,310,285 versus 222,224 units valued at $4,137,703 on Thursday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
In the main market activity, Berger Paints rose 50 cents and ended at $21.50, trading just 300 stock units, Caribbean Cement jumped $3.50 to finish at $50 while trading 88,250 shares, Grace Kennedy ended trading 221,853 shares and rose $1 to close at $60, Jamaica Broilers lost 90 cents in trading 10,639 stock units at $26.10, Kingston Wharves lost $1.20 and finished at $61.80, after trading at a historical high of $65 in exchanging 55,088 stock units, NCB Financial Group declined by $1 to end trading 16,305 shares at $112 after trading at a new record high of $115, PanJam Investment jumped $2.70 and closed at $55 with 52,511 stock units changing hands, Pulse Investments concluded trading 3,947 shares at $2.80, after rising 40 cents, Sagicor Group gained $1 in exchanging 28,332 shares, to close at $39.05, Sagicor Real Estate Fund rose $1.50 and settled at $12.50, trading 770,200 shares, Scotia Group traded 21,049 units and rose 50 cents to end at $53, Seprod climbed $2 and finished trading 2,100 shares to end at $45, Sygnus Credit Investments traded 1,451,195 units and rose 50 cents to close at $12, Wisynco Group concluded trading 1,451,195 stock units, rising 54 cents to end at $9.49.
Trading in the US dollar market closed with 60,399 units valued US$13,825. Trading ended with Productivity Business ended trading 15,376 shares at 59 US cents, Proven Investments exchanging 3,000 shares to close at 23 US centsSygnus Credit Investments traded 42,023 shares and lost 0.06 cent to 11 US cents. The JSE USD Equities Index unchanged at 173.74.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 4 closing with lower offers.
Archives for August 2018
All Jamaica leaps to record 363,496
The Jamaica Stock Exchange continues to scale new heights on the last trading day of August as the bulls take control of the market. At midday the All Jamaican Composite Index has surged more than 8,829 points to pass 363,000 points.
The All Jamaican Composite Index has jumped 8,829.47 points to an intraday high 363,496.38 and the JSE Index surged 8,044.65 points to a record 331,186.28. The Junior Market index rose 36.05 points to 3,253.63.
NCB Financial had jumped earlier to a record $115 from a close of $113 on Thursday, to make the first big move on the index, but Caribbean Cement climbed to $50 from $46.50 on Thursday, Sagicor Group rose from $38.05 to $39.75 while Kingston Wharves jumped from $63 to a record $65 and helped push sharply higher beyond the 363,000 mark.
In the Junior Market, Derrimon Trading having just over 1 million shares trading at $24 and Caribbean Producers traded 1.26 million shares at $6.50.
All Jamaica leaps 7,789 points to cross 362,000
The All Jamaican Composite Index has surged more than 7,789 points at 20 minutes past 11 am on Friday morning on the Jamaica Stock Exchange to break through the 362,000 points mark.
NCB Financial had jumped earlier to a record $115 from a close of $113 on Thursday, to make the first big move on the index, but Caribbean cement climbed to $50 from $46.50 on Thursday, Sagicor Group rose from $38.05 to $39.75 and helped push sharply higher beyond the 362,000 mark.
The All Jamaican Composite Index has jumped 7,789.19 to an intraday high 362,456.10 and the JSE Index surged 7,096.83 points to a record 330,238.46. The Junior Market index rose 35.93 points to 3,253.51 with Derrimon Trading having just over 1 million shares trading at $24 and Caribbean Producers traded 1.25 million shares at $6.50.
All Jamaica jumps to record 361,000 points
the All Jamaican Composite Index has surged more than 6,310 points at 2 minutes past 11 am in the morning session on the Jamaica Stock Exchange on Friday to break through the 360,000 points level for the first time and is just 23 points short of the 361,000 mark.
NCB Financial had jumped earlier to a record $115 from a close of $113 on Thursday, to make the first big move on the index, but Caribbean cement climbed to $50 from $46.50 on Thursday and Sagicor Group rose from $38.05 to $39.75 modest volume and helped push sharply higher in early trading on Friday to reach another record high.
The All Jamaican Composite Index has jumped 6,310.05 2 to an intraday high 360,976.96 at 11.01 am and the JSE Index surged 5,749.17 points to a record 328,890.80. The Junior Market index rose 43.01 points to 3,260.59. Derrimon Trading had just over 1 million shares trading at $24.
Subsequently, to the above moves the main market all Jamaica Index just crossed over the 361,000 points mark but pulled back a bit to sit just below.
NCB pushes All Jamaica to record 359,696 points
NCB Financial jumped to a record $115 on modest volume and helped push the Jamaica Stock Exchange sharply higher in early trading on Friday to reach another record high.
Within just 17 minutes after the market opened, the All Jamaican Composite Index was peeping at the 360,000 points mark by jumping 5,029.92 to an intraday high of 359,696.83 and the JSE Index surged 4,582.83 points to a record 327,724.46. The Junior Market index rose 15.80 points to 3,233.38.
Minor slip for Junior Market – Thursday
The Junior Market closed trading on Thursday slightly down, even as advancing stocks beat out declining stocks more than 2 to 1 with the market index falling 3.19 points to 3,217.58.
At the close, 27 securities changed hands, down slightly from 28 on Wednesday with the prices of 13 advancing, 6 declining and 8 remained unchanged. Trading resulted in an exchange of 3,136,408 units valued at $17,262,540 compared to 2,597,222 units valued at $24,126,194, on Wednesday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 1 closed with a lower offer.
Trading closed with an average of 116,163 units for an average of $639,353 in contrast to 92,758 units for an average of $861,650 on Wednesday. The average volume and value for the month to date amounts to 254,559 units at $1,270,673, compared to 262,510 units at $1,306,941 on the previous trading day. Trading in July, averaged 154,060 units valued at $655,146 for each security traded.
At the close of trading, Access Financial climbed $3 to end at $43, exchanging 89,300 shares, Blue Power concluded trading of 52,691 units and rose by 30 cents to $5, CAC 2000 finished 5 cents higher at $9.05, trading 100 shares, Cargo Handlers settled with 5,000 shares being exchanged and rose 80 cents to $12, Caribbean Flavours traded 18,000 stock units for a rise of $1 to a record close of $19. Caribbean Producers finished trading 173,788 units, 15 cents higher at $6.80, Derrimon Trading ended at $23.50, with 85,360 shares, Dolphin Cove concluded trading at $16.50, in exchanging 143 shares, Elite Diagnostic finished 10 cents higher at $3.10, with 487,961 stock units changing hands. Eppley settled at $10.18, with 2,100 units, Everything Fresh fell 2 cents in trading 36,501 shares to end at $2.10, Express Catering ended trading 60,253 shares, at $8.01, FosRich Group rose by 24 cents to $2.99, trading 119,884 shares, General Accident finished trading 5,000 shares, 65 cents higher at $4.45, but closed with the offer at $3.80. GWest Corporation closed at $2.18, while exchanging 11,909 stock units, Indies Pharma traded 867,462 shares but fell 10 cents to end at $2.60, Iron Rock concluded trading at $3.25, with 2,500 shares changing hands, Jetcon Corporation traded with 40,767 stock units with a loss of 8 cents at $4.02, KLE Group finished trading 600 shares and rose 25 cents to $3.30. Knutsford Express closed at $12.50, in exchanging 7,250 shares, Lasco Distributors ended with a loss of 10 cents at $3.90, after exchanging 297,318 shares, Lasco Financial concluded trading with 134,226 stock units at $5.80, Lasco Manufacturing finished 10 cents higher at $4, with 582,909 units changing hands. Main Event settled 11 cents higher at $7.11, trading 11,000 shares, Paramount Trading traded 3,872 shares with a loss of 40 cents at $2.60, Stationery and Office finished trading 30,314 stock units with a loss of 20 cents at $8.15 and tTech ended 10 cents higher at $5.20, with 10,200 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
1990’s Jamaican like interest rates in Argentina
Argentina’s central bank on Thursday raised its benchmark interest by 15 percentage points to 60 percent, the highest in the world, after the peso plummeted to a new record low, Bloomberg news reported today.
According to the report, “the move comes one day after President Mauricio Macri announced he had requested the International Monetary Fund to speed up disbursements from a $50 billion credit line, in order to demonstrate the country had enough cash on hand to fund the 2019 budget without going further into debt.”
Earlier on Thursday the peso fell to a fresh record low of 40 to the U.S. dollar. It pared some of its declines following the central bank announcement. The peso is down 49 percent this year, the report concluded.
The move is reminiscent of moves by the Bank of Jamaica and sanctioned by the ministry of finance heading then by Dr. Davies that did enormous damage to the Jamaican economy from which the country has not fully recovered.