8 consecutive record close for JSE – Tuesday

The Main Market of the Jamaica Stock Exchange closed at the 8th consecutive record high on Tuesday with the JSE All Jamaican Composite Index climbing 1,582.36 points to close at 316,696.32 and the JSE Index advanced by 1,441.71 points to 288,546.16.
Trading finished with 24 securities changing hands in the main market and 3 in the JSE US dollar market and resulted in 13 rising, 6 declining and 8 trading firm. The main market closed with 10,920,273 units valued at $178,163,037 compared to 2,056,868 units valued at $33,022,811 on Monday and the JSE US dollar market closed with 16,032 units traded, valued at US$4,842and leading to the JSE US dollar Equities Index advancing 2.74 points to 185.75.
Trading ended with an average of 455,011 units for an average of $7,423,460 in contrast to 97,946 units for an average of $1,572,515 on Monday. The average volume and value for the month to date amounts to 1,498,491 units valued at $20,719,611 and previously, an average of 1,571,292 units valued at $21,647,250. In contrast, September closed with average of 283,480 units at $3,630,990 for each security traded.
NCB Financial climbed back to $107 from Monday’s to close at $103, while Berger paints traded 263,833 shares to close at $16, up 47 percent above the price the directors said was a fair price for the minority shares. IC Insider.com estimate for earnings for the year to March 2018 places the PE at a low 7 times currently versus the average market of 13.6. Productivity Business traded 400 shares for a gain of $5to close at a record high $105.
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 a reading of 8 stocks with bids higher than their last selling prices and 3 with lower offers.