Carib Cement closed at a new 52 weeks’ high on Thursday of $26.50.
The JSE Market Index surged 2,831.72 points to 157,084.38, the all Jamaica Composite Index soared 3,164.61 points to end at 174,506.95 and the JSE combined index leapt 3,371.69 points to close at 165,501.42.
At the close, 6,753,668 units valued at $75,464,922 changed hands in all markets with the junior market accounting for of 3,272,184 units changing hands, valued at $17,503,527. Trading was broad based with a total of 44 active securities in all market segments as 19 in the combined markets gained and 11 declined.
The main market seems on its way to 185,000 points level, the next major area of resistance having been moving well away from resistance around the 165,000 points level on the all Jamaica composite index. There is limited volume of stocks of some major companies on offer, suggesting that investors holding them see much higher prices ahead hence the need for buyers to increase their prices to obtain supply.
What appears to be an imbalance could well see the main market breaking the 185,000 points level before long. IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 15 stocks with bids higher than their last selling prices and 4 with lower offers.In trading, Berger Paints ended with 159,300 shares trading at $3.70, for a rise of 54 cents. Cable and Wireless fell 3 cents, with 154,380 units changing hands to close at $1.32, Caribbean Cement jumped $5.50 to end at a 52 weeks’ high of $26.50, with 90,670 shares trading, Carreras closed at $61 with 5,873 units changing hands. Ciboney traded only 1,200 shares with price falling 1 cent to 24 cents, Desnoes and Geddes traded 22,100 shares but closed at $29, mp-in-gleaners-q3-profits-by-70/”>Gleaner Company traded 264,000 shares at $2.60 with a 10 cents gain, Grace Kennedy closed with 4,033 units changing hands at $84.70. Jamaica Broilers rose 1 cent and closed at a 52 weeks’ high of $10.76 with 726,646 shares changing hands, Jamaica Producers traded 25,200 shares to end at $31 for a loss of 99 cents. JMMB Group traded 5,500 units and rose 90 cents to end at a 52 weeks high of $12, infrequently traded Kingston Properties had 43,707 units trading at $7.07, Kingston Wharves lost 40 cents in trading 155,819 units at $11.
Mayberry Investments gained 5 cents with 11,010 units changing hands at $4.40, National Commercial Bank lost 50 cents to end at $42, with 140,765 units changing hands. Radio Jamaica had 10,000 shares trading 5 cents higher at $5.05. Sagicor Group jumped 51 cents to close at a 52 weeks’ high of $22.51 with 819,266 units changing hands, Sagicor Real Estate Fund traded 120,708 shares but the price dropped $1 to $10. Scotia Group closed with 550,504 shares changing hands at $30.10 for a gain of 8 cents, but traded at an intraday 52 weeks’ high of $34. At the close, the lowest offer to sell was at $34 with 17,939 shares and 3,895 units at $39.99 as supply of the stock has dried up. Bids were at $30.10 and lower with relative low volumes. Supreme Ventures ended at $4.66 with 103,650 units changing hands and Proven Investments traded 34,600 ordinary shares to end at 22.89 US cents.
