Main market stocks of the Jamaica Stock Exchange closed at record levels at the close on Thursday with the market indices climbing over 2,300 points but with advancing stocks being edged out by declining ones.
The All Jamaica Composite Index surged 2,567.56 points to a record close of 278,436.64, the JSE Market Index jumped 2,339.33 points to a record at the close of 253,687.31 and the JSE US dollar market index lost 10.81 points to close at 186.89.
At the close of trading, 25 securities changed hands in the main market with 1 trading in the US dollar market, leading to 8 stocks advancing and 9 declining. The main market ended with 1,374,903 units valued at $47,150,828 changing hands compared to 1,809,394 units valued at $47,308,355 at the close on Wednesday. Trading in the US dollar market accounted for 631,286 units valued at US$150,176 bringing the total of all trades to J$66,373,329.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 54,996 units valued at $1,886,033 for each security traded compared to an average of 69,592 units valued at $1,819,552. The average volume and value for the month to date ended at 109,162 units with an average value of $1,864,984 compared with an average of $119,995 units with an average value of $1,860,774 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investmentslost 23 cents to close at $8.77 trading 800 shares, Berger Paints advanced $2.51 to $18.69 while exchanging just 179 units, Cable and Wireless lost 1 cent to close at $1.04, with 218 units changing hands, Caribbean Cement lost $1 in closing at $28, 1,500 shares,Carreras dipped 50 cents to $109.50, with 121,812 shares switching owners and Grace Kennedy closed at $40, with a loss of 49 cents trading 9,790 shares. Jamaica Broilers exchanged 68,558 shares at $18.10, Jamaica Producers closed at $15.10, with a loss of 90 cents trading 460 units, Jamaica Stock Exchange lost 1 cent, closing at $6.48 with 34,250 shares changing, JMMB Group closed at $19.99, gaining 79 cents with 267,627 shares. Kingston Wharves exchanged 283 units at $29, Mayberry Investments gained 14 cents to close at $4.63, with 2,435 shares changing hands, 
NCB Financial Group held firm at $90, after exchanging 27,309 shares, 1834 Investments traded 50,000 shares at $1.40, PanJam Investment closed $2 lower to $31 trading 614,451 shares, Portland JSX gained 30 cents to $9.30, with an exchange of 3,350 shares, Proven Investments added 1 cent, closing at $25.02, with trades of 80,000 shares, Pulse Investments gained 1 cent to close at $1.99 trading 20,000 shares and Radio Jamaica closed at $1.50 exchanging 2,438 shares. Sagicor Group closed at $34.35, with gains of 35 cents trading 28,700 shares, Salada Foods gained 39 cents, closing at $9.50 with 128 units, Scotia Group ended at $44 with 23,318 shares, Seprod closed at $32.55, losing 85 cents with 7,443 shares changing hands. Proven Investments US ordinary share traded 631,286 units at 24 US cents, Jamaica Money Market Brokers 7.5% preference share closed at $1.99 with 2,934 units traded and Proven 8.25% preference share exchanged 6,920 units at $4.99.
Main market drops 2,000 points – Wednesday
Main market stocks suffered a reversal of fortunes on the Jamaica Stock Exchange on Wednesday with the main indices slipping over 2,000 points in spite of a $5 jump for Carreras and $2 for Sagicor Group. Trading closed moderately with 1,809,394 units valued at $47,308,355 changing hands.
On Tuesday just 909,094 units valued at $30,837,797 traded in the main market. Trading in the US dollar market on Wednesday accounted for 297,250 units valued at US$77,073 bringing the total of all trades to J$57,173,667.
At the close of trading, 26 securities changed hands in the main market with 2 trading in the US dollar market, leading to 9 stocks advancing and 8 declining.
The All Jamaica Composite Index declined 2,289.06 points to close at 275,869.08, the JSE Market Index lost 2,085.59 points to 251,347.98 and the JSE US dollar market index gained 5.10 points to close at 197.70.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 69,592 units valued at $1,819,552 for each security traded compared to an average of 39,526 units valued at $1,340,774. 
The average volume and value for the month to date ended at $119,995 units with an average value of $1,860,774 compared with an average of 132,596 units with an average value of $1,871,080 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments gained 15 cents, closing at $9 with 211,900 shares changing hands, Berger Paints traded $2.37 lower to $16.18 in exchanging 43,980 shares, Cable and Wireless lost 10 cents to close at $1.05, with 54,029 shares changing hands,
Caribbean Cement closed at $29 after gaining $1 with 48,058 shares, Carreras jumped $5 higher to $110 while exchanging 112,582 shares, Grace Kennedy closed at $40.49, with a loss of 51 cents trading 114,173 shares. Jamaica Broilers lost 39 cents, in closing at $18.10 with an exchanging 28,436 shares, Jamaica Producers gained 90 cents to close at $16 trading 17,120 shares, Jamaica Stock Exchange added 1 cent, closing at $6.49 with 11,852 shares, JMMB Group closed at $19.20, losing 79 cents with 92,071 shares. Mayberry Investments closed at $4.49 after losing 51 cents with 17,010 shares changing hands, 
NCB Financial Group held firm at $90, after exchanging 42,893 shares, 1834 Investments traded 42,637 shares at $1.40, 138 Student Living gained 50 cents to close at $5.50 exchanging 5,000 shares, PanJam Investment remained at $33 trading 260,026 shares, Proven Investments exchanged 202,170 shares at $25.01, Pulse Investments gained 3 cents to close at $1.98 trading 76,971 shares, Radio Jamaica closed at $1.50 exchanging 117,708 shares. Sagicor Group closed at $34, with gains of $2 while trading 39,221 shares, Salada Foods lost 19 cents to $9.11, with 2,430 shares switching owners, Scotia Group closed at $44 with trades of 80,236 shares, Scotia Investments exchanged 100 units at $35, Seprod gained 85 cents to close at $33.40, with 301 units changing hands, Supreme Ventures traded 181,490 shares at $8. Margaritaville Turks US ordinary shares closed at 36 US cents trading 13,497 units, Proven Investments US ordinary shares closed at 24 US cents, with an exchange of 283,753 units, Proven Investments 8.25% preference share exchanged 3,000 units at $5 and JMMB Group 7.5% preference share lost 1 cent to close at $1.10 with 4,000 units traded.
JSE jumps to new record close – Tuesday
Investors pushed the Jamaica Stock Exchange indices up sharply to hit new record highs at the close on Tuessday. During the morning session, the All Jamaica Composite Index hit a new all-time high of 279,335.69, after surging a huge 6,471.87 points at 11:50 AM.
The JSE Market Index jumped 5,896.61 points to a record 254,506.45 points. By the close gains eased with the market closing a bit lower but well above Friday’s close.
Trading ended with the All Jamaica Composite Index jumping 5,294.32 points to a record close of 278,158.14, the JSE Market Index leapt 4,823.73 points to 253,433.57 and the JSE US dollar market index gained 3.76 points to close at 192.60.
At the close of trading, 23 securities changed hands in the main market with 1 trading in the US dollar market, leading to 11 stocks advancing and 6 declining. The main market ended with 37,879 units valued at $30,837,797 changing hands compared to 2,489,517 units valued at $21,640,002 at the close on Friday. Trading in the US dollar market accounted for 404,258 units valued at US$99,647 bringing the total of all trades to J$83,856,037.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 39,526 units valued at 1,340,774 for each security traded compared to an average of 124,476 units valued at $1,082,000. The average volume and value for the month to date ended at $132,184 units with an average value of $1,857,113 compared with an average of 163,620 units with an average value of $2,047,849 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments traded 85 cents higher to close record high of $8.85 in exchanging 4,555 shares, Berger Paints closed at $18.55, with a loss of 45 cents trading 1,325 shares, Cable and Wireless added 10 cents to close at $1.15, with 25,100 shares changing hands, Caribbean Cement fell $1.80 to $28, exchanging 27,929 shares, Carreras dropped $4 lower to $105 with 69,288 shares, Grace Kennedy closed at $41 trading 78,696 shares. Jamaica Broilers gained 49 cents, closing at $18.49 with 100 units, Jamaica Producers traded 9,374 shares at $15.10, Jamaica Stock Exchange added 1 cent to end at $6.48 trading 61,767 shares, JMMB Group closed at $19.99, with 58,070 shares. Kingston Wharves closed at $29,after gaining $1.80 with 9,143 shares changing hands, 
NCB Financial Group traded $4.99 lower to $90, after exchanging 36,483 shares, PanJam Investment closed at $33 trading 47,000 shares, Proven Investments exchanged 139,570 shares at $25.01, Pulse Investments gained 45 cents to close at $1.95, with 76,936 shares, Radio Jamaica closed at $1.50, with gains of 9 cents exchanging 11,097 shares. Sagicor Group closed at $32 trading 31,475 shares, Sagicor Real Estate Fund gained 13 cents to close at $12.05, with 13,605 shares, Scotia Group closed at $44 with trades of 160,588 shares, Scotia Investments lost 12 cents , closing at $35 in exchanging 3,742 shares, Seprod closed at $32.55, with gains of $1.55 and 928 units changing hands, Supreme Ventures gained 15 cents, closing at $8 with 41,913 shares exchanged. Proven Investments US ordinary shares closed at 24 US cents, with trades of 404,258 units and JMMB 7.5% preference share rose 9 cents and closed at $1.99 with 410 units traded.
Junior Market climbs 54 points Tuesday
Trading in the Junior Market of the Jamaica Stock Exchange closed on Tuesday with a number of stocks advancing, out pacing those declining.
The volume and value of stocks traded climbed compared to that on Friday with the market index closing sharply higher.
The market index jumped 53.71 points to close at 3,161.90, as 23 securities traded, up from 19 on Friday with 10 stocks advancing, 5 declining and 8 traded firm. Trading closed with 7 stocks with bids higher than the last traded prices and 1 closing with a lower offer.
At the close 7,982,375 units value at $43,352,441 traded, compared with 1,948,274 valued at $10,702,346 passing through the market on the previous trading day. Trading was boosted by Express Catering with more than 6.6 million units changing hands.
Trading ended trading with an average of 347,060 units for an average of $1,884,889 in contrast to 102,541 units for an average of $563,281 on Friday. The average volume and value for the month to date amounts to 147,562 units valued at $787,949 compared to 81,062 units valued at $422,302 previously. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
The volume of stocks trading and their last traded prices at the close are: AMG Packaging closing at $3.75 with 3,051 units changing hands, Blue Power dived $2.50 to close at $41.50 with 1,080 units changing hands, CAC 2000 closed at $7.50 with 341 shares, Caribbean Flavours closed at $11 with 1,500 shares, Caribbean Producers closed 5 cents higher at $3.50 with 5,100 shares, Consolidated Bakeries closed at $2.62 with 300 shares, Derrimon Trading ended 25 cents higher to close at $8 with 2,400 shares, 
Dolphin Cove rose $2 to close at $20 with 2,700 shares, Express Catering traded at a new high during the day at $5.57 but closed $1 lower for the day at $4.30 with 6,676,605 shares, General Accident rose 5 cents and closed at $2.90 with 4,517 shares, Honey Bun gained 5 cents to close at $5.55 with 2,500 units, Jamaican Teas lost 24 cents and closed at $4.51 with 6,871 shares, Jetcon Corporation rose 30 cents to close at $5.60 with 948,848 shares, as investors responded positively to the company’s six month results. KLE Group closed at $2 with 2,725 shares, Knutsford Express traded 11,598 shares at $15, Lasco Distributors closed 10 cents higher at $6.70 with 105,467 shares, Lasco Financial closed at $4 with 75,829 units, Lasco Manufacturing gained 7 cents to $4.40 with 21,104 shares, Main Event closed down by 5 cents at $4.85 with 24,040 shares, Medical Disposables closed at $5.50 with 42,269 shares, tTech climbed $1.50 higher to close at $9.50 with 6,500 stock units, Derrimon Trading preference share closed at $2.10 with 17,030 units and Eppley 10% preference share ended at $6.60 with 20,000 units after falling 1 cent.
All Jamaica jumps 2,443 points to record 272,863.82
Jamaica Stock Exchange main market hit new records at the close on Friday, with the All Jamaica Composite Index hitting a 4th consecutive all-time high of 272,863.82 after surging 2,443.17 points and the JSE Market Index jumping 2,226.01 points to it 6 consecutive record at 248,609.84.
NCB Financial Group jumped sharply by $11.99, to be the major contributor to the market movement, to close at an all-time high of $94.99, with 23,437 shares traded. There has been very limited supply for the group’s stock in the market and trading closed with less than 7,000 shares on offer.
The JSE US dollar market index gained 0.41 points to close at 188.84 with 2 securities trading in the US dollar market and one losing value.
NCB Financial Group’s shares jumped $11.99 on Friday.
At the close of trading, 20 securities changed hands in the main market leading to 11 stocks advancing and 7 declining. The main market ended with 2,489,517 units valued at $21,640,002 changing hands compared to 3,104,799 units valued at $66,312,076 at the close on Thursday. Trading in the US dollar market accounted for 726,081 units valued at US$174,757 bringing the total of all trades to J$44,008,929.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 1 with lower offers.
The main market ended trading with an average of 124,476 units valued at $1,082,000 for each security traded compared to an average of 119,415 units valued at $2,550,464. The average volume and value for the month to date ended at $163,620 units with an average value of $2,047,849 compared with an average of 183,191 units with an average value of $2,530,773 on the previous trading day. 
The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, fresh from the news that Barita Investments is considering an offer to purchase the majority of its shares, the priced climbed $1.15 higher to close at $8 trading just 650 units. Attendant with the announcement, offers that were posted up to Thursday were withdrawn. Other securities trading on Friday along with the volume and the last price traded, include: Berger Paints adding 2 cents at $19 exchanging 29,575 shares, Cable and Wireless gained 5 cents to close at $1.05, with 134,938 shares trading, Carreras fell $1, to $109 with 29,460 shares, Grace Kennedy lost 10 cents exchanging 11,034 shares at $41. Jamaica Broilers lost 50 cents, closing at $18 trading 1,834 shares, Jamaica Producers traded 80 cents lower at $15.10 with 5,582 shares. Jamaica Stock Exchange added 2 cents, to $6.47 trading 20,072 shares, 
JMMB Group eased 1 cent to $19.99, with 19,321 shares. 1834 Investments closed at $1.40, losing 1 cent with 20,720 shares, Proven Investments added 29 cents to close at $25.01 in exchanging 300,000 shares, Pulse Investments dropped 70 cents to end at $1.50, with 321,745 shares. Sagicor Group gained 25 cents, climbing to $32 trading 5,820 shares, Salada Foods gained 69 cents to close at $9.30, with 1,300 shares, Scotia Group closed at $44 with 63,020 shares, Sterling Investments closed at $14.05, with gains of 5 cents and 100 units, Supreme Ventures gained 17 cents, closing at $7.85 with 264,190 shares traded. Proven Investments US ordinary shares closed at 24 US cents, with 725,299 units, Margaritaville Turks US ordinary shares exchanged 782 units at 36 US cents, after slipping a fraction, JMMB Group 7.5% preference share closed at $1.11 with 1,232,719 units traded and Proven 8.25% preference share closed at $5, with gains of 2 cents trading 4,000 units.
Barita in takeover talks
Barita closed at $6.85 on Thursday.
Well known brokerage house, Barita Investments is currently in discussion for the sale of majority shareholdings in the Company.
A release from the company to the Jamaica Stock Exchange on Thursday advised that the Company has received an offer to acquire the majority shares and that the offer is under consideration by the Company’s Board of Directors and that discussions continue, pending the preparation and conclusion of definitive agreements.
The 76 percent majority shareholder with 339,975,664 shares and chairman, Rita Humphries-Lewin who started the company from the 1970s, is currently in her 80’s and close to retirement, making the offer opportune for her.
The offer comes at an interesting time just after Proven Investments closed their rights issue that raised US$16,547,873 (J$2.1 billion) resulting from the sale of an additional 68,949,472 ordinary shares. Barita could be a good fit for them as well as others within the sector, especially with an established Unit Trust portfolio. In the past investors were of the view that Barita could make a good fit for Mayberry Investments. Information glean suggest that they are not one of the arties showing an interest just now. Victoria Mutual Group has just started a Unit Trust schemes but the cost of a start up is high until it gets to a critical mass, Jamaica National has no unit trust portfolio and just started in the stockbrokerage business. Barita would make a great fit for them but it is unsure that their Chairman, Oliver Clarke would want to sanction that move at this time.
VMBS seems to be an interested party.
Barita has 445.877 million shares issued with a market capitalization of just over $3 billion, a simple majority holding would cost just over $1.5 billion at current price, assuming a price higher than the current one would result in a higher sum. The amount of capital raised by Proven would translate to $10 per share for a simple majority in Barita. IC Insider.com projects earnings for the current year at 90 cents. With the listed investments banks trading at PEs around 11 times, 2017 earnings, a reasonable value of $10 per share seems probable. With the company having unrealized gains not showing in the normal profit, a price around $10 should be attractive to both buyers and sellers at this time. An investor with cash would want to get as much of the shares of the majority owner, but with a mandatory offer having to be made to minority shareholders, they may want to go for a smaller amount initially with 65 to 70 percent looking viable. NCB Group have been on expansion run as well and the combination of NCB Capital Markets and Barita could create synergies. NCB group owns all of the investment arm making a merger with Barita down the road very viable.
Barita is primarily involved in stockbroking, Unit Trust management and repo business. The Unit Trust business that is poised to grow rapidly in a low interest rate environment, would be a big attraction for Proven who currently have no such business within their portfolio.
5 straight records for JSE Market Index
Thursday ended on the main market stocks of the Jamaica Stock Exchange with the All Jamaica Composite Index crossing the 270,000 mark for the first time in jumping 1,819.13 points to close at a 3rd consecutive record, at 270,420.65. The JSE Market Index surged 1,657.43 points to a 5th consecutive record close, of 246,383.83.
The JSE US dollar market index lost 12.74 points to close at 188.43 with 2 securities trading in the US dollar market, including one preference share. Trading in the US dollar market accounted for 135,953 units valued at US$37,081.
At the close of trading, 26 securities changed hands in the main market, leading to 13 stocks advancing and 9 declining and the price of one stock in the US dollar market fell. Two stocks closed at new 52 weeks’ highs. The main market ended with 3,104,799 units valued at 66,312,076 changing hands compared to 7,902,954 units valued at $80,354,594 at the close on Wednesday. Trading in the local and US dollar markets to J$71,058,454.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading is indicating a strong move ahead as 12 stocks ended with bids higher than their last selling prices and only 2 with lower offers.
The main market ended trading with an average of 119,415 units valued at $2,550,464 for each security traded compared to an average of 246,967 units valued at $2,511,081. The average volume and value for the month to date ended at $183,191 units with an average value of $2,530,773 compared with an average of 246,967 units valued at $2,511,081 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, the last traded price of securities trading along with the volume changing hands are: Barita Investments with just 900 units closing at $6.85 and gaining 20 cents, Berger Paints gaining 48 cents to $18.98 exchanging 5,568 shares, Cable and Wireless closed at $1, with gains of 4 cents trading 523,776 shares, Caribbean Cement lost 20 cents to close at $29.80 with 77,000 shares, Carreras ended at $110 with of 27,188 shares, Grace Kennedy gained 60 cents at $41.10, exchanging 69,007 shares. 
Jamaica Broilers dropped 50 cents, closing at $18.50 with 172,757 units, Jamaica Producers traded 90 cents higher to $15.90 with 185,577 shares. Jamaica Stock Exchange closed at $6.45 trading 12,250 shares, JMMB Group closed 25 cents lower to $20, with 17,637 shares. Kingston Wharves gained 10 cents to close at $27.20 exchanging 612 units. Mayberry Investments gained 39 cents, closing at $5 trading 110,000 shares, NCB Financial Group added $1.99 to record close of $83, after exchanging 263,394 shares, 1834 Investments closed at $1.41, losing 9 cents with 25,000 shares, PanJam Investment traded $1.45 lower to $33 trading 51,940 shares, Proven Investments added 1 cent to close at $24.72 exchanging 148,499 shares, Pulse Investments gained 26 cents to close at $2.20, with 15,000 shares, Radio Jamaica closed at $1.41 with 115,145 shares. Sagicor Group gained $1.74 to $31.75 trading 75,345 shares, Scotia Group closed at $44.95, losing 95 cents with 420,846 shares, Scotia Investmentsexchanged 2,000 shares at $35.12, after losing 38 cents, Seprod closed at $31, with gains of 95 cents and 500 units changing hands, Supreme Ventures lost 2 cents to close at $7.68 with 110,571 shares. Proven Investments US ordinary shares closed at 24 US cents, losing 0.02 US cents trading 130,897 units, JMMB Group US 6% preference share exchanged 5,056 units at US$1.12, JMMB 7.5% preference share closed at $1.99, gaining 9 cents, trading 74,187 units, JMMB Group 7.5% preference share lost 4 cents, closing at $1.11 with 600,000 units exchanged and 138 Student Living variable rate preference share closed at 52 weeks’ high of $5.68, with gains of 68 cents trading 100 units.
Jamaican economy throwing up goodies
The Jamaican economy seems to be humming along pretty well, based on a number of critical measures that are available as well a physical evidence seen elsewhere.
There seems to be increased traffic around the corporate area at various times of the day, even when school is closed, thus reducing much of the normal peak hours traffic. Information from the Tourism sector is that visitor arrivals have climbed sharply since the winter months. There is strong evidence of increased construction activities with buildings be constructed across the length and breathe of Kingston and elsewhere in the country for commercial and residential purposes.
An examination of government’s statistical data is confirming some of these developments. Corporate taxes are up 33 percent over 2016 for the first 3 months of the fiscal year, an indication of higher sales and profit being generated. 
Education tax is running 7.7 percent ahead of projections and 13 percent above last year’s intake. Contractors levy is up over 2016 by 27.5 percent ahead of forecast, to reach $391 million and some 33 percent ahead of the intake for 2016 of $293 million, a good indicator of the health of the construction sector.
Traditional Exports are holding their own but with a slight fall in earnings for January to April 2017 of 1.5 per cent or US$3.4 million below the comparable 2016 period to US$216 million, but Non–Traditional Exports in the same period grew 36.2 percent or US$51 million above the US$140.9 million earned in the 2016 to reach US$192 million. Traditional exports should get a boost in the second half of the year with the resumption of alumina production at Alpart. Another critical indicator of increased health of the local economy is the second largest number of persons employed within a one year period of 35,500, for the twelve months to March 2017, only bettered by increased employment of 40,500 more persons between March 2015 and 2016,
The Hampshire Apartments complex being built by Guardian Life.
Of course, business confidence is at record levels, as investors pump more investments into the local stock market, driving it to new record highs on the last day of July, with increases expected in the months ahead.
Recent data in the forex market shows it generating strong net inflows with the local currency enjoying some revaluation after a slight fall earlier in the year.
Volume dips as most Junior stocks trade
Trading in the Junior Market of the Jamaica Stock Exchange closed on Wednesday with 84 percent of the ordinary listings being active and ending with declining stocks dominating rising ones almost 2 to 1 leading to a small fall in the market index.
At the close the volume of stocks and value of stocks traded, fell by a half of Monday levels.
The market ended with 2,266,721 units valued at $11,726,592 changing hands, with the index falling 6.26 points to close at 3,149.20. On Monday, trading closed with 4,581,201 units valued at $21,905,678.
A total of 26 securities traded, versus 22 on Monday, with 8 stocks rising and 13 declining. Trading closed with 4 stocks having bids higher than the last traded prices and 1 closing with a lower offer.
Trading ended trading with an average of 87,182 units for an average value of $451,023 in contrast to 208,236 units for an average value of $995,713 on Friday. In contrast, July closed with averages of 536,395 units valued at $1,905,441 for each security traded.
At the close of the market, stocks trading and their last traded price are Access Financial Services closing with a loss of 50 cents at $46, in trading 1,127 units, AMG Packaging rose 15 cents to close at $3.65 with 125,763 units changing hands, CAC 2000 fell 50 cents with 5,000 shares trading to end at $6.50, Cargo Handlers ended trading with 6,910 shares to close at $13.20. Caribbean Cream ended trading at $6.50 with a 35 cents loss, after trading 26,650 shares, Caribbean Producers added 10 cents to close trading with 141,875 units, at $3.45, Consolidated Bakeries rose 1 cent and ended with 74,146 units changing hands, at $2.63. C2W Music had 70,000 units changing hands, to close at 38 cents, after falling 1 cent, Derrimon Trading declined by 20 cents to end at $7.80 after with 27,119 shares changing hands. Recently listed Express Catering ended at $5 with 292,114 shares changing hands, after the company announced a dividend of 0.917 US cent per share, General Accident closed trading with 2,000 shares at $2.90, Honey Bun fell 6 cents with 208 shares changing hands at $5.50, ISP Finance closed $2 higher with 9,418 units changing hands at $18,
Jamaican Teas rose 2 cents, trading 23,819 shares to close at $4.52, Jetcon Corporation traded 47,084 shares to end at $5.10, after slipping 10 cents, Key Insurance traded 8,535 units to close at $3.05 after losing 80 cents, KLE Group ended at $2 with 6,000 shares changing hands, Knutsford Express lost 5 cents in trading 5,799 shares to end at $14.90, Lasco Distributors closed with a rise of 8 cents at $6.88, after trading 261,741 units, Lasco Financial lost 16 cents and ended with 26,052 shares changing hands at $4.04, Lasco Manufacturing rose 4 cents and ended with 42,634 shares trading at $4.37, Main Event eased 3 cents to close with 10,971 shares trading at $5.47, Medical Disposables dropped 45 cents in closing at $5.50 with 1,023,000 units trading, Paramount Trading ended with 15,500 units changing hands at $2.50, Sweet River rose 2 cents, ending with 7,494 units changing hands at $3.52 and tTech lost 50 cents in trading 5,762 units to close at $8.50.
New record for the JSE on Wednesday
Carreras jumped $17.50 to $110 on Wednesdaay after the company indicated they are considering a stock split.
Trading on the main market of the Jamaica Stock Exchange saw increased number of securities changing hands including 6 preference stocks. The All Jamaica Composite Index surged 1,892.68 points to close at a new record of 268,601.52, the JSE Market Index jumped 1,724.45 points to a 4th consecutive record close, of 244,726.40.
The JSE US dollar market index rose 17.40 points to close at 201.17.
At the close of trading, 32 securities changed hands in the main market with 1 trading in the US dollar market, leading to 10 stocks advancing and 16 falling including 5 that ended at 52 weeks closing highs. At the close 7,902,954 units valued at 80,354,594 changed hands in the main market compared to 24,165,397 units valued at $225,427,641 at the close on Monday. Trading in the US dollar market accounted for 18,500 units valued at US$4,810 bringing the total of all trades to J$80,890,786.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 246,967 units valued at $2,511,081 for each security traded compared to an average of 1,006,892 units valued at $9,392,818. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments closed at $6.65 with trades of 1,100 shares, Berger Paints lost 20 cents, closing at $18.50 exchanging 106,569 shares, Cable and Wireless closed at 96 cents, losing 9 cents trading 16,965 shares, Caribbean Cement closed at $30, with a loss of $1.20 exchanging 18,114 shares, Carreras closed at $110, advancing $17.50, with trades of 96,316 shares, Grace Kennedy closed at $40.50, with a loss of $1.25 exchanging 55,923 shares. Jamaica Broilers was down 1 cent to close at $19 trading 652,777 shares, Jamaica Producers traded 92 cents lower to close at $15 with 2,153,273 shares exchanged. Jamaica Stock Exchange closed with gains of 6 cents to $6.45 trading 25,297 shares, JMMB Group closed 70 cents lower to $20.25, with trades of 18,890 shares and Kingston Properties exchanged 400 units at $8. Mayberry Investments gained 1 cent to close at $4.61 trading 5,627 shares, NCB Financial Group added 1 cent to close at $81.01, after exchanging 49,807 shares, 1834 Investments closed at $1.50, with an exchange of 13,795 shares, 138 Student Living lost 1 cent to close at $5, with trades of 46,000 shares, PanJam Investment gained 45 cents, closing at $34.45 trading 100 units, Portland JSX traded 50 cents lower to $9 exchanging 22,000 shares, Pulse Investments lost 51 cents to close at $1.94, with trades of 64,423 shares and Radio Jamaica closed at $1.41 with 31,277 shares exchanged. Sagicor Group fell $3.49 to $30.01 trading 18,656 shares, Sagicor Real Estate fund lost 10 cents, closing at $11.92 trading 28,372 shares, Salada Foods closed at $8.61, with a loss of 72 cents and 60,000 shares changing owners, 
Scotia Group closed at $44.95, losing 3 cents with trades of 87,322 shares, Scotia Investments exchanged 3,000 shares at $35.50, Seprod closed at $30.05, with a gain of 4 cents and 95,000 shares changing hands and Supreme Ventures lost 10 cents to close at $7.70 with 25,235 shares exchanged. Proven Investments US ordinary shares closed at 26 US cents, gaining 0.04 US cents trading 18,500 units.
A large number of preference shares traded with 4 trading at 52 weeks’ highs.JMMB Group 7.50% preference share closed at $1.15, with a loss of 2 cents exchanging 3,950,000 units, JMMB 7.5% preference share closed at $1.90 trading 105,000 units, JPS 7% preference share gained 3 cents to close at a 52 weeks’ high of 48 cents with 41,300 units switching owners, JPS 5% C preference share closed with gains of 2 cents to a 52 weeks’ high of 38 cents trading 1,835 units, JPS 5% D preference share gained 2 cents, closing at a 52 weeks’ high of 38 cents with 71,921 units exchanged, JPS 6% preference share closed at 52 weeks’ high of 44 cents, gaining 3 cents trading 36,660 units.