Trading on the Trinidad & Tobago Stock Exchange on Monday resulted in sharp decline in the number of active securities and declines in the two main indices.
The market closed with 10 securities changing hands in contrast to 16 on Friday with 1 stock advancing, 2 declining and 7 unchanged. A total of 174,656 units valued at $3,712,321 traded compared to Friday’s trades of 662,006 shares valued at $5,506,299.
The Composite Index declined 2.06 points to 1,223.02, the All T&T Index dropped 4.14 points to 1,830.07 while the Cross Listed Index gained a mere 0.01 point to 82.44.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 10 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| National Enterprises gained 8 cents to close at $10.85 with 7,540 units being exchanged, to be the sole stock rising.
Losses| First Citizens sustained a fall of 93 cents, closing at $34 with trades of 27,147 valued at $922,998 and Republic Financial Holdings 
lost 9 cents to close at $108.19 with 6,719 units exchanged for a value of $726,929.
Firm Trades| Clico Investment was unchanged at $22.52 with only 245 shares traded, Grace Kennedy closed at $2.68 with a mere 10 shares changing hands, Guardian Holdings closed at $13.31 with 5,600 units exchanged while Scotia Investments closed at $2.23 with 5,400 shares changing owners. Scotiabank held firm at $58.75, closing with 10,000 units traded at a value of $587,500, Trinidad & Tobago NGL remained at $21, after trading 48,309 shares valued at $1,014,499 and Trinidad Cement closed at $4.50 with 63,686 units transacted.
Sharp drop trading Trinidad stocks
Bulls stampeding Jamaican stocks
Stock prices followed Friday’s surge on the main market of the Jamaica Stock Exchange on Monday, moving the market higher, with gains of 9.5 percent for the year to date, after the main market started the year with moderate gains.
The movement over the past three trading days has brought the gains in the market in line with the junior market that previously had gains that were 3 times that of the Jamaica Stock Exchange main market.
At the close, the all All Jamaica Composite Index leapt 3,931.57 points to close at 230,053.06, the JSE Market Index surged 3,515.51 points to finish at 210,082.88 and the JSE combined index climbed sharply by 3,283.99 points, to close at 223,917.56.
Trading resulted in 12,789,852 units valued at $79,186,131 changing hands, compared to 2,882,798 units valued at $55,189,818 changing hands on Friday. Of the stocks traded, the junior market accounted for 426,481 units valued at $2,702,243.
The market closed with 42 securities changing hands, with 24 stocks rising and 9 falling in the overall market, including 10 stocks rising and 2 falling, in the junior market. A total of 8 securities ended at new 52 weeks’ closing highs.
The average trade for the day in the main market ended at 149,740 shares compared to an average of 111,605 units traded on Friday. For the month to date, an average of 175,757 shares compared to an average of 201,775 units on the previous trading day. The average for the month of December ended at 549,379 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator was at its highest level with reading shows 26 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints traded at an intraday 52 weeks’ high of $10.56 but declined by 5 cents in closing at $10.46 after trading 10,000 shares, Cable and Wireless closed with 221,233 units changing hands at $1.20, Caribbean Cement lost 39 cents and traded 39,262 shares to close at $33.51. Carreras closed at $66.75, gaining 5 cents with 8,652 shares changing hands, Grace Kennedy had 32,126 units trading to close at $40.50, after losing 14 cents, Jamaica Broilers gained 7 cents and closed at $15.20 with 11,700 shares changing hands. Jamaica Producers traded 7,647 shares, rising 56 cents to end a new closing high of $13.06, Jamaica Stock Exchange closed at $5.60 having traded 178,916 shares, JMMB Group climbed to a 52 weeks’ closing high of $16.90 with gains of 90 cents and 8,633 units trade. Kingston Wharves retreated slightly from the rarefied heights to end trading 4,625 units and losing $1, to close at $33, Mayberry Investments traded 1,020 shares with a loss of 25 cents to close at $5, National Commercial Bank climbed higher at a 52 weeks’ high of $60, gaining $2 after swapping 61,840 shares.
Pan Jamaican gained 10 cents and closed at $30 with 27,659 units being exchanged, Portland JSX closed at $9 with 10,000 units trading. Pulse Investments traded 12,500 units, gaining 83 cents to close at a 52 weeks’ high of $6.00, Radio Jamaica rose 5 cents, closing at $1.35 with 27,693 shares traded, Sagicor Group closed with 112,763 shares changing hands with a gain of 99 cents at $30. Sagicor Real Estate fund traded 12,627 units and closed at $10, Salada closed at $8 having traded 148,787 shares, Scotia Group ended with 9,771 shares changing hands at $39. Scotia Investments traded 14,891 units, losing 49 cents to close at $33, Sterling Investments lost 15 cents to close at $15.60 after trading 124,700 units, Supreme Ventures traded 11,259,836 shares and closed at $5.21 and Proven Investments traded 15,300 ordinary shares to close at 23 US cents.
Sharp jump for JSE stock index
National Commercial Bank (NCB) moved up to a new record high of $60 and Jamaica Producers climbed to a new high of $13 helping to push the main market sharply upwards with the all Jamaica composite Index well over the 230,000 points level.
National Commercial Bank moved up to a new record high of $59 and Jamaica Producers traded just 4,554 units and had no stock on offer while NCB which started trading at $58.20 and rose to $60 but fell back $57 with 56,500 shares trading with the bid back at $59,
NCB has only one offer posted to sell 10,000 units at $63.20, Sagicor Group traded 112,753 shares at $30, but now has no stock on offer. Seprod has not traded but has no stock on offer with the bid at $30.
All major markets indices hit new records during the morning session but with moderate trading taking place. The all Jamaica Composite Index jumped 4,740.24 points to 230,861.73 the Jamaica Stock Exchange Market Index leapt 3,933.07 points to 210,805.97, the Jamaica Stock Exchange combined index surged 4,238.60 points to 224,566.64 and the junior market index inched 0.26 points to 2,829.55.
Securities changing hands, amount to 27 at 10:45 am compared to 28 trading on Friday. A total of 12 securities advanced and 7 declined, resulting in a volume of 880,842 shares changing hands, carrying a value of $12,045,282, versus 554,414 shares changing hands, carrying a value of $6,229,690, the average trade for the early session amounted to 29,957 units, compared to 19,801 shares previously.
Healthy 2017 gains for Jamaican stocks – Jackson
ISP now leads the top 10 stock predictions for the rest 2017 for junior market companies, according to John Jackson of IC Insider.com in his address to the JSE Capital Markets Conference, last week.
Jackson presented his TOP 10 listings of both junior and main market companies with Barita Investments heading the main market stocks, that should be the best performing stock for the rest of 2017.
“There are some potential good winners in the list. I am not saying that all will necessarily be winners but I expect to see some spectacular performances,” he told the conference at the Jamaica Pegasus Hotel in Kingston on Thursday.
Overall the price to earnings ratio (PE) for the junior market will climb but still offer value for money, he said.
“PEs at 20 times earnings will become the norm, once interest rates remain low. I am quite positive that they will. Based on what is happening now on the economic front, interest rates are going to go even lower, along with stability in the exchange rate,” he said.
Barita is one of the top IC Insider’s stock for growth over the next 12 months in the main market.
The gains in 2017 will come from strong earnings and investor demand pushing the price up even higher. Jackson said that the main changes in the market for 2016 over 2015 were the rising PE multiples.
“Things have substantially changed. The PE has risen with the average for the junior market at 15 and the main market is 11 to 12 times earnings based on 2016 earnings. It was about six times earnings a year ago,” he said.
The junior market has been running at roughly twice the pace of the main market. That has gone on for some time due to the fast growth nature of the junior companies, he said.
Public gets measly share of Main Event
Main Event Entertainment Group had a successful initial public offer, closing on the same day it opened but with a massive over subscription.
What is clearly a successful offer may become a major public relation nightmare as investors may be furious with the paltry amounts they end up getting and hardly being able to benefit from what will be a huge upside move in the stock price shortly after listing.
According to the broker for the issue, Mayberry Investments, stated that Mayberry West Indies Reserved Shares and Key Partner Reserved Applications were allocated in full. The first 3,000 shares of Mayberry Client Reserved Shares were allocated in full, with the balance allocated approximately 4.6095917%. Company Reserved Applications will get the first 3,000 shares with amounts over this level, to be allocated approximately 48.7418953% and general public will get the first 3,000 shares applied for plus approximately 1.1906517% of the rest.
Gary Peart of Mayberry Investments indicated than more than 1,000 applications were received for the 62 million shares that were offered.
Stocks on fire in Kingston
Bulls pushing Jamaican stock to new highs almost daily for 2017.
Prices surged on the main market of the Jamaica Stock Exchange on Friday resulted in the daily highest points gain in history of the market.
The huge move was the result mainly of sharp gains in the prices of National Commercial Bank, Scotia Group, Kingston Wharves, Jamaica Producers Group. It was a day when both the main market of the Jamaica Stock Exchange and the junior market closed at record levels as the bull market which had its genesis in late 2014, continues to build momentum with the supply of stocks on the wane, while demand builds.
At the close, the All Jamaica Composite Index jumped sharply by 9,082.60 points, to close at 226,121.49, the JSE Market Index surged 8,121.44 points to finish at 206,567.37 and the JSE combined index climbed 7,716.24 points to close at 220,633.57.
For the consecutive trading day, volume going through the market was moderate, with less than $100 million of trading. At the close, 2,882,798 units valued at $55,189,818 changed hands, compared to 3,687,829 units valued at $80,933,897 changing hands on Thursday. Of the stocks traded, the junior market accounted for 204,282 units valued at $1,106,948.
The market closed with 42 securities changing hands, with 24 stocks rising and 9 falling in the overall market, including 10 stocks rising and 2 falling, in the junior market. A total of 8 securities ended at new 52 weeks’ closing highs.
The average trade for the day in the main market, ended at 111,605 shares, compared to an average of 116,490 units traded on Thursday. For the month to date, an average of 201,775 shares traded compared to an average of 291,945 units on the previous trading day. The average for the month of December ended at 549,379 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 21 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints gained just 1 cent to end a new closing high at $10.51 while trading 11,500 shares, Cable and Wireless ended with 137,034 units at $1.20, after rising 2 cents, Caribbean Cement dropped $2.60 in trading 79,400 shares in closing at $33.90. Carreras closed at $66.70 with 26,859 shares changing hands, 1834 Investments gained 4 cents in trading 2,419 units at $1.34, Grace Kennedy had 6,092 units trading to close at $40.64, after declining 1 cent, Jamaica Broilers rose 13 cents and closed at $15.13 with 4,787 shares changing hands. Jamaica Producers traded 27,986 shares after rising by $1 to end at a new high of $12.50, Jamaica Stock Exchange rose 10 cents to close at $5.60, 
having traded 127,613 shares, JMMB Group jumped to a new closing 52 weeks’ high of $16 in trading 27,146 units, after rising by 50 cents. Kingston Wharves jumped sharply by $6.25, to end trading with 6,500 units and closed at 52 weeks’ high of $34, Mayberry Investments traded 500,000 shares with gains of 25 cents, to close at $5.25, National Commercial Bank surged $5.98 to close at an all-time high of $58 after swapping 38,550 shares. 138 Student Living traded 100,000 units at $4.50, Pan Jamaican shed 10 cents and closed at $29.90, with 765,562 units traded, Portland JSX closed at $9 while trading 6,000 units, Pulse Investments traded 42,700 units, falling 13 cents to close at $5.17 after it traded at an intraday high of $5.65. Radio Jamaica lost 5 cents, closing at $1.30 with 35,778 shares traded, Sagicor Group closed with 8,935 shares changing hands, with a fall of 99 cents to $19.01, Sagicor Real Estate Fund gained 50 cents in trading 9,333 units and closed at $10. Scotia Group, with 470,682 shares changing hands jumped $2.89 cents to a 52 weeks’ closing high of $39. Supreme Ventures gained 11 cents in trading 39,240 shares to close at $5.21 and JMMB Group 7.50% preference shares traded 200,000 units to close at $1.10.
Juniors climb to 2,829 points on Friday
Access Financial Services’ traded at a new high of $27.50 on Friday.
The market ended with very low volume of stocks changing hands, ending at 204,282 units valued at $1,106,948 passing through the market, compared to 542,606 units valued at $3,545,918, on Thursday.
An average of a mere 11,349 units with an average value of $61,497 traded, compared to 33,913 units with an average value of $221,620 2 on the previous trading day. The average for the month to date is 177,108 units with an average value of $939,121 versus 186,317 units with an average value of $987,878 for the preceding trading day. The average for December, ended at 131,147 units, with an average value of $672,488.
The market closed with 12 stocks with bids higher than their last sale and 1 with a lower offer than the last sale.At the close of trading, investors pushed Access Financial $2.20 to close at a 52 weeks’ high of $27.50 with 140 units changing hands, Blue Power closed with 500 units changing hands at $40.40, CAC 2000 traded 100 shares and gained 39 cents to end at $6.40, Cargo Handlers end at $20.50, after 3,679 shares were traded. Caribbean Flavours pushed through 6,647 units and lost $1.50 to end at $8.50, Caribbean Producers exchanged 4,000 shares but fell 15 cents to $4, Consolidated Bakeries rose 35 cents in trading 13,761 shares to close at $3, Dolphin Cove ended at $14 with 1,110 shares trading to gain 50 cents. General Accident gained 10 cents at the close of trading, with 34,160 shares at $3.10, Honey Bun shed 35 cents and closed with 19,174 shares changed hands at $6.30,
Jetcon Corporation closed trading with just 650 shares, to end with a gain of 56 cents to $10.10. KLE Group ended with 8,200 units changing hands at $2.49, Lasco Distributors ended trading with 16,985 units changing hands to end at $7.30. Lasco Financial had 45,650 shares changing hands and rose 15 cents to end at $3.95, Lasco Manufacturing with 3,240 units changing hands and closed with a gain of 5 cents at $5.15, Medical Disposables gained 30 cents to end at a 52 weeks’ high of $6.20 with 2,850 shares trading. Paramount Trading closed with a gain of 2 cents at $3.22 with 2,500 shares changing hands and tTech closed trading with 40,936 units changing hands to end at a record $6.90.
Healthy net FX inflows continue
Up to the end of foreign exchange trading on Friday, Jamaica enjoyed a surplus of US$153 million for January. On Friday the central bank reported net inflows US$17 million with the selling rates for the main currencies for the Jamaican dollar gaining but for the Canadian dollar.
At the close of the market, dealers bought the equivalent of US$50,312,663 of all currencies and sold just US$32,969,840, compared to US$40,366,101 purchased and US$34,607,120 sold on Thursday.
In US dollar trading, dealers bought US$47,964,301 compared to US$37,146,996 on Thursday. The buying rate for the US dollar fell 10 cents to close at $127.85. A total of US$32,074,678 was sold versus US$33,530,844 on Thursday, with the selling rate falling by 13 cents to $128.42.
The Canadian dollar buying rate fell 29 cents to $94.85, with dealers buying C$1,110,230 and selling C$586,246 at an average rate that climbed 37 cents to end at $97.90. The average rate for buying the British Pound rose 93 cents to $158.33 for the purchase of £1,088,337 while £241,103 was sold with a decline of 94 cents, to end at $160.50.
At the end of trading on Friday, dealers sold €135,899, with the selling rate for the Euro, closing with a fall of $1.63 to $136.85, according to data from Bank of Jamaica. Dealers purchased €153,437 of the European common currency at $133.18 after rising $2.70. The US dollar equivalent of other currencies traded, amounts to US$17,035 being bought and selling of US$2,116.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Friday, include a jump in the lowest selling rate of the US dollar by $19.27 to $123. The highest buying rate for the British Pound jumped $1.82 to $163.82 while the lowest selling rate dropped $3.50 to $152. The highest buying rate for the Euro fell $4.47 to close at $135.30, the highest selling rate fell $6.70 to $139.60 and the lowest selling rate lost $3 to $130.
6 stocks rise 6 fall on TTSE on Friday
The Trinidad & Tobago Stock Exchange closed on Friday with an increased number of 16 securities changing hands compared to 15 on Thursday. A total of 6 stocks advanced, 4 were unchanged and 6 declined as 662,006 units were exchanged, for $5,506,299 compared to 482,036 shares valued at $3,773,912 on Thursday.
The Composite Index advanced 1.17 points to 1,225.08, the All T & T Index gained 0.28 points to 1,834.21 and the Cross Listed Index also gained 0.28 points to 82.43.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 7 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| Clico Investment closed 2 cents higher at $22.52, with 142,187 units traded at a value of $3,200,232, First Caribbean International gained 3 cents trading 31,963 units to close at a 52 weeks high of $8.53, Guardian Holdings exchanged 7,600 shares and gained 18 cents to end at $13.31. JMMB Group added 4 cents to close at a 52 weeks high of $1.20 with an exchange of 364,378 units valued at $437,724, Scotia Investments closed at $2.23, gaining 2 cents with 76,418 shares changing hands and Scotiabank gained 5 cents, in closing at $58.75 with 1,000 shares traded.
Losses| Massy Holdings closed at $51.40, losing 2 cents with only 75 units changing owners, National Commercial Bank was down 7 cents to $3.28 trading 1,000 shares and Point Lisas lost 5 cents to close at $3.70 with an exchange of 530 units.
Republic Financial Holdings closed at $108.28, after falling 6 cents with 9,302 shares being exchanged at a value of $1,007,221, Trinidad Cement slid 5 cents to $4.50, with 18,402 shares traded and West Indian Tobacco exchanged 100 units to close at $127.
Firm Trades| Grace Kennedy closed at $2.68 with 100 shares traded, Prestige Holdings remained unchanged at $11 with 169 units changing hands, Sagicor Financial closed at $8.50 trading 2,582 shares and Trinidad & Tobago NGL held firm at $21 with an exchange of 6,200 units.
Huge gains for Jamaican stocks
The Jamaica stock market, recorded the highest points gain in trading on Friday, with some big moves in the prices of National Commercial Bank, Scotia Group, Kingston Wharves and Jamaica Producers Group as some of the main 
movers contributing in a major way to the gains in the main market indices.
In the process the all All Jamaica Composite Index jumped sharply by 9,082.60 points to close at 226,121.49 and the JSE Market Index surges 8,121.44 points to finish at 206,567.37.
A combination of factors helped in the big move. The bullishness of the market is coming at a time of very low supplies for a number of stocks, including the four mentioned above, while NCB reported record profit for their December quarter, with a jump of 49 percent, to $3.56 billion, helping in moving the price from $52.02 at the close on Thursday to $58. The bank also announced increased dividend payment, from 50 cents per share in 2016 to 60 cents being paid in February.
The gain on Friday was the biggest daily increase, but in percentage terms, it sits in at the 5th largest daily gain.
