Bullish trading in Jamaican stocks

The Jamaica Stock Exchange Main Market ended trading on Monday with the market rising in a bullish session at the start of August after more stocks rose than fell after investors exchanged 39 percent fewer shares with 70 percent higher value than they did on Friday.
At the close, the All Jamaican Composite Index climbed 6,403.61 points to settle at 412,297.65. The Main Index gained 5,796.89 points to end at 376,218.86 and the JSE Financial Index advanced by 2.39 points to settle at 98.36. The price of Scotia Group jumped sharply, by $5.21 and was a major contributor to the significant rise in the market indices.
Trading ended with 45 securities changing hands with the prices of 23 stocks rising, the prices of 15 declining and seven remaining unchanged and the average PE Ratio of the market ended at 15.5 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 8,211,306 shares for $88,195,049 compared to 13,543,115 units at $51,906,344 on Friday.
Wigton Windfarm led trading with 2.52 million shares for 30.7 percent of total volume, followed by Transjamaican Highway with 1.37 million units for 16.7 percent of the day’s trade and Supreme Ventures with 1.13 million units for 13.8 percent market share.
An average of 182,473 units traded on Monday at $1,959,890, in comparison to an average of 338,578 shares at $1,297,659 on Friday. Trading compares adversely to, July that ended with an average of 392,128 shares at $2,444,356.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows six stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments rose $2.40 and closed at $56.40 after exchanging 644 stock units, Caribbean Cement dropped $4.25 in ending at $43.75 after trading 7,168 stocks, Eppley advanced $2.54 in closing at $17.44, with 1,141 units changing hands. First Rock Capital climbed 74 cents $13.75 with investors switching ownership of 19,689 shares, Jamaica Broilers Group rose $1.99 to settle at $27.49, in exchanging 40,355 units, Jamaica Producers fell $1.70 to close at $22, with investors trading 4,312 stock units. Key Insurance gained 84 cents to finish at $8.99, with investors exchanging of 44,663 units, Kingston Properties gained 92 cents to end at $7.03, trading 400 shares, Kingston Wharves declined by 30 cents in ending at $50.70 after exchanging 90 stock units. Mayberry Jamaican Equities increased 60 cents to close at $9.35, with 14,901 shares changing hands, NCB Financial Group carved out an increase of $1.48 to close at $139.98 and finishing with 9,557 units crossing the exchange. Palace Amusement jumped $232.50 to close at $1,782.50 in an exchange of just four units, Proven Investments declined by 45 cents in ending at $34.30 in an exchange of 832 units, Sagicor Group rose $1.01 to settle at $44, with 3,938 stock units trading. Salada Foods rose $1 to settle at $29 with investors swapping just one stock, Scotia Group climbed sharply by $5.21 to close at $51.70 with investors trading 518,331 shares, Stanley Motta rose by 43 cents to close at $5.13 in trading 10,010 stock units. Supreme Ventures gained 49 cents in ending at $15.49 after 1,129,584 shares crossed the exchange, Sygnus Credit Investments rose 93 cents to end at $16.80 trading 1,500 shares and Victoria Mutual Investments carved out a loss 53 cents to close at $6.50 while exchanging 126,311 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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