The JSE All Jamaican Composite Index surged 13,935.32 points to a record intraday high of 507,044.4 while the JSE Index jumped 12,663.55 points to a new high of 461,759.26 in Friday’s trading session.
The sharp rise in the market indices was fueled primarily by a big surge in NCB Financial Group shares that raced to $200 at one stage and Scotia Group that traded as high as $59.60.
NCB Financial traded 12.98 million shares an now trades at $198.99.
Record 507,000 points for All Jamaica
June 21, 2019 by
NCB Financial traded at $200
June 21, 2019 by
NCB Financial traded at a record high of $200.
NCB Financial traded at a record high of $200 in the morning session of the Jamaica Stock Exchange, on Friday.
The stock now trades at $191.01 and helped in pushing the market indices into record territory, just shy of the 500,000 mark on the All Jamaican Composie Index, with that index reaached 497,715.29, having risen 4,606.16 points, just after mid-day.
NCB Financial has been trading unusually large volumes this week and so far traded 5,062,371 shares before 12:30 pm. Since then the stock went on to trade nearly 13 million units up to 12:45 PM, with last traded price sitting at $192. Wigton Windfarm traded the highest volume with 41.85 million units passing through the market with the last traded price at 86 cents.
JSE majors jump to new record – Friday
June 21, 2019 by
New record high for the JSE main market.
NCB Financial Group raced to $190.20 and Scotia Group to $59.60 to help the JSE All Jamaican Composite Index climb 4,775.33 points to a record of 497,884.46 while the JSE Index jumped 4,339.53 points to a new high of 453,435.24 with 90 minutes of trading left in the day.
While the main market was hitting new highs, the Junior Market struggles with a decline of 16.04 points to 3,113.94.
The big trades so far are Wigton with 15.7 million shares, NCB with 5 million units and in the Junior Market Lasco Finance with 1 million shares and Lasco Manufacturing 1.73 million shares. Subsequent to 11:30 am, NCB traded up to $193.
Richard Byles next BOJ governor
June 13, 2019 by
BOJ interest rate & cash reserves cut will help push demand in the economy.
Word reaching IC Insider.com is that the next Governor of Jamaica’s central bank will be the past CEO of Sagicor Group, Richrad Byles.
Byles has a bachelors degre in economics from the University of the West Indies and a Master degree in National Development and Planning from the University of Bradford. He is widely accepted to have played a major role in transforimng both the PanJam group and Sagicor Group.
Bryan Wynter who serves as the current governor of the central bank demits office later this year.
10 records in 10 days for JSE main market
June 6, 2019 by
The Jamaica Stock Exchange chalked up its 10th consecutive session at record high as JMMB Group traded at a new high of $42.50, up from $39.61 at the close on Wednesday and NCB Financial Group trading at a record $184.50.
At 11.17 am, the JSE All Jamaican Composite Index jumped 2,642.74 points to a record high of 483,354.79 and the JSE Index climbed 2,674.49 points to another record 440,231.57. The Junior Market rose 20.71 points to 3,128.48. The market moved on to higher levels as NCB traded at a new all-time high of $184.85 as the JSE All Jamaican Composite Index raced 6,813.16 points to a record high of 487,225.21 and the JSE Index surged 6,191.68 to 443,748.76 at mid-day.
If the market hold on to the gains, it would have broken through resistance at 480,000 points on the All Jamaica index and should be heading for the next level of resistance at 520,000 points.
Juniors drop 100 points AJI up 12,190 pts
May 27, 2019 by
With less than 15 minutes to the close of trading, the Junior Market index dropped 99.56 points 3,057.15 but the JSE All Jamaican Composite Index jumped 12,189.89 points to a record 470,855.28.
The JSE Index surged 11,077.42 points to a new record of 428,872.50 as Scotia Group traded at $53 and NCB Financial Group trades at $155 but was, up to $164 earlier in the day and PanJam Investment jumped $7.50 to $97.50.
Wigton Windfarm had less demand and traded 196 million shares and now trades at 69 cents.
Junior Market drops 82 points
May 27, 2019 by
Big fall in the price of Express Catering dropped to $6.70 from $7.98 and Caribbean Producers fell for $4.80 on Friday to $4.40 to do major damage to the Junior Market index that dropped 81.51 points to 3,057.15.
In the main market, NCB Financial Group traded up to $159.45, up from a close of $153 on Friday, PanJam jumped $7 to $97, Wisynco rose 20 cents to $15.95 and Caribbean Cement leaped from $73 to $79.98 helping to push the JSE main market to another record high at 10:50 am.
The JSE All Jamaican Composite Index jumped 6,557.71 points to a record 465,223.10 and the JSE Index climbed 5,959.24 points to a new record of 423,754.32. Wigton Windfarm traded 97 million shares were up to 80 cents.
10th record closing high for JSE
May 24, 2019 by
Wigton Windfarm traded 472.8 million shares to close at a record 83 cents and NCB Financial Group closed at $153 to help push the JSE main market to a tenth record close for the year.
At the close, the JSE All Jamaican Composite Index jumped 4,339.37 points to a record close of 458,665.39 and the JSE Index climbed 3,943.35 points to a new record of 417,795.08.
Wigton Windfarm shares were trading for the second day on the exchange after a successful Initial Public Offer and has gained just over 60 percent so far. The market closed with Wigton having 129 million shares on the bid to buy and 39.8 million units on offer of shares. The stock closed with 10.9 million units on the bid at 83 cents and 2.09 million units are on offer at 84 cents.
Meanwhile the Junior Market index traded with a gain of 10.21 points to close at 3,138.66.
JSE post record high but…
May 22, 2019 by
Wigton Windfarm traded at 65 cents, Scotia group climbed to $51 and Wisynco Group traded at a new high of $15.99 to push the JSE All Jamaican Composite Index up 6,219.13 points to a record 457,965.13 after 47 minutes of trading.
At the same time, the JSE Index jumped 5,651.57 points to a new record of 417,158.72. The main market indices may be overstated with Wigton shares exceeding the maximum of 65 cents permitted for the day.
The moves beat the intraday high reached on Friday when the JSE All Jamaican Composite Index rose 1,367.16 points to 456,944.87 after 51 minutes of trading and the JSE Index rose 1,242.38 points to a then new record of 416,231.54.
The market index has since pulled back the record high with JSE All Jamaican Composite Index now 2,587.10 points to 454,333.08 after 72 minutes of trading and the JSE Index is up 2,138.24.57 points to a new record of 413,754.53. Meanwhile the Junior Market index trades 23.87 points up at 3,122.36.
Wigton opens at 65 cents
May 22, 2019 by
Wigton stock could double soon.
Within minutes of opening more than 8 million shares were on the bid between 35 cents (just 1 bid) and 76 cents with sellers offering more than 12 million units to sell between 60 cents and $5
After a few minutes of trading just under 7 million shares traded at 65 cents. The shares will be restricted to a maximum price rise of 15 cents today or 30 percent of the IPO price, which is the maximum the stock exchange circuit breaker rule permits.
If the bid closes at 84 cents at the close of trading then it can trade as high as $1.09 on Friday when the market reopens after the Labour day holiday.The stock should be very liquid and that may constrain the price movement as speculators take profit early. The PE ratio of the stock is 8.5 times earnings but with many main market stocks priced in the 15 times region Wigton could get to that valuation and sell just under $1.
Mayberry Investments the main broker for the issue stated that the public sector pool was oversubscribed accordingly and all Public Sector workers who applied for less than 15 million shares were fully allocated while investors from the general public, were fully allocated up to 8.5 million shares.