Big jump at JSE on Friday

The Jamaica stock market closed on Friday with strong movement in the indices to hit the highest levels since March 14, 2008 on the all Jamaica Composite index, for the JSE index it’s the highest since September 19, 2008. The market closed with 9 stocks rising, 9 declining as 29 securities changed hands with 5,441,593 units trading, valued at $44,801,033, in all market segments. 4 stocks closed at new 52 weeks’ high. Scotia Group was the main stock contributing to much of the rise.
At the close, the JSE Market Index jumped 1,849.21 points to 100,992.53, the JSE All Jamaican Composite index climbed 2,066.95 points to close at 111,821.48 and the JSE combined index rose 1,994.84 points to end at 104,636.95.
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 7 stocks with bids higher than their last selling prices and 6 with offers that were lower.
In trading, Cable and Wireless ended with only 5,877 units changing hands and lost 4 cents to end at 40 cents, Caribbean Cement traded 47,000 shares to close at $7.10 after gaining 10 cents, Gleaner traded at $1.52, up 22 cents after 28,300 shares changed hands, in response the merger of the company’s media operations with that of Radio Jamaica. At the close, Gleaner closed with ten bids above the last traded price with the highest at $1.72, during the day the bid was as high as $2.22. Grace Kennedy traded 13,372 shares at $64, Hardware & Lumber lost $2.25 to close at $12.75 with just 2,006 shares changing hands, Jamaica Broilers had 11,888 shares changing hands, in closing at $6.37, to record a loss of 63 cents. The Jamaica Stock Exchange stock traded 67,824 units at $6.80, for a loss of 20 cents, Mayberry Investments had 292,002 shares trading at $3.10 to gain 10 cents. National Commercial Bank had 35,410 shares trading to close with a 49 cents loss at $30, Radio Jamaica traded just 1,200 to end at a 52 weeks’ high of $3.90 as the price gained 45 cents. Sagicor Group ended trading with 1,017,852 units at $12.96, down 4 cents, Sagicor Real Estate Fund closed at $8.50 while trading 34,000 units, Scotia Group ended with 794,735 units trading as high as $26 but ended at $24, Scotia Investments traded 10,000 shares at $27.08 for an 8 cents rise and Jamaica Money Market Brokers 7.50% preference traded 166,500 units at $2.01..