The Jamaica stock market is enjoying a slow morning of trading with only 16 securities being active at 11 am with a volume of 1,157,117 units as 5 stocks gained and 6 declined.
In trading, Caribbean Cement traded at a new 52 weeks’ high of $12 with limited volume as the supply has effective dried up with only one offer at $15. Derrimon Trading had 635,700 shares traded at $2.30, subsequent to 11am Desnoes & Geddes traded at $28.50 for an increase of $3.47.
The All Jamaican Composite index rose 405.74 points to 127,674.61 JSE Market Index rose 397.92 points to 115,213.23, the JSE combined index rose 446.32 points to be at 119,607.39 and the junior market index rose 11.59 points to 1,216.38.
The JSE enjoying slow Thursday morning
Wednesday’s 9,714 JSE gain biggest ever
The 9,714.07 points rise in the JSE all Jamaica Composite Index on Wednesday, is the largest move ever on the local stock market. The change betters last week’s Friday’s gain of 7,697.11 points and is larger than the April 13, 2004 fall of 9,295.39 points.
The two big moves in October this year, owe most of the gains to a 71.66 percent rise in the share price of Desnoes & Geddes (D&G) on Wednesday and 63.38 percent on Friday, October 9 which helped to move the stock from $8 to Wednesday’s price of $25.80, for a gain of 421 percent, for the year to date. With the price of the D&G stock having moved close to the equivalent price of J$31 for a share by Heineken, it does not seem likely that there will be another set any time soon.
The JSE enjoys record gain on Wednesday
The main market of the Jamaica Stock Exchange recorded its highest gain ever with a huge jump of 9,440.63 points on All Jamaican Composite index to hit 126,995.43 as Desnoes & Geddes traded 59,126 shares at $25 for an increase of $9.97 to be the main contributor to the gains. Trading in the overall market has been strong with 28 securities being active at 11 am, with a volume of 10,402,800 units as 17 stocks gained and 2 declined.
In Trading, Berger Paints traded 899,350 shares at $2.50, Caribbean Producers exchanged 1,649,403 up to $2.80, General Accident traded 2,000,000 units at $1.75, Jamaica Broilers exchange 601,851 shares at $7 and Lasco Distributors had 3,043,460 units trading at $2.80.
The JSE Market Index rose 8,447.57 points to 114,570.64, the JSE combined index rose 7,451.90 points to be at 118,884.23 and the junior market index fell 58.68 points to 1,199.65.
15 up 7 down on Tuesday
At the close of trading on the Jamaica stock exchange, there were 15 stocks rising, 7 declining, with 32 securities totalling 7,269,713 units, valued at $48,282,077 changing hands, in all market segments. 1 junior market stock and 1 main market stock ended at new 52 weeks’ closing highs, 1 stock traded at intraday 52 weeks’ low and one at a 52 weeks’ intraday high.
The JSE Market Index lost 530.18 points to 106,123.07, the JSE All Jamaican Composite index fell 592.50 points to 117,554.80 and the JSE combined index declined 247.57 points to end at 111,432.33.
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 18 stocks with bids higher than their last selling prices and 4 with offers that were lower and setting up Wednesday for an interesting day of trading.
In trading, Cable and Wireless closed with a decline of 8 cents, with 2,196,541 shares changing hands to close at 52 cents, but the price traded up to 60 cents during the day. Caribbean Cement shot up to $10 with 35,038 shares changing hands for a 10 cents increase, Carreras traded 54,715 shares at $50.60. Desnoes and Geddes did not trade but the stock closed with several bids at $19.87 to buy 1,823,929 shares with an offer of 59,126 units at $25, then at $28 with very small volumes. Jamaica Broilers closed at $6.92 with 134,660 shares changing ownership, for a loss of 18 cents, Jamaica Producers gained 10 cents in trading 59,820 shares at $18.60, JMMB Group traded 50,000 shares to close at $8.06 with a loss of $1.44, Kingston Wharves traded at a new high of $7.65 to add 65 cents with 1,238 shares changing hands. National Commercial Bank closed with a small gain with 50,000 shares trading to close at $30.11, the shares of 138 Students Living lost 5 cents in closing at $4.15 with 1,200,000 shares, the stock traded at an intraday low of $3.90, Pan Jamaican Investments traded 147,199 shares at $61.56 with a gain of 56 cents. Sagicor Group with 586,567 shares closed 14 cents higher at $13.15, Scotia Group ended with 286,773 shares trading at $3.52 after losing 48 cents, Scotia Investments lost 5 cents in ending at $26 while 32,475 shares traded, Seprod traded 19,000 shares at $15 for a gain of $1. Proven Investments traded 143,731 ordinary shares at 21 US cents, Jamaica Money Market Brokers 7.50% preference share traded 105,000 units at $2 and Jamaica Money Market Brokers 8.75% preference share traded 27,000 units at $2.65 for a gain of 8 cents.
Junior market index touched 1,300 points
Lasco Manufacturing traded at a new high of $4 and pushed the junior market index 1,300 points in early trading but by 11am the price drifted down to $3.55 and the index was down to 1,161.69 and is up by 31.70 for another record over Monday’s close.
The JSE Market Index rose 237.68 points to 106,890.93. The JSE All Jamaican Composite index gained 265.63 points to 118,412.93, the JSE combined index rose 507.48 points to be at 112,187.67.
A total of 19 securities traded at 11 am with a volume of a mere 991,123 units, 11 stocks gained 5 declined.
JSE price changes fluid on Monday
Two junior market and 3 main market stocks ended at new 52 weeks’ closing high and 1 junior stock trading at 52 weeks’ intraday high. The main market indices enjoyed another day of decent gains. The JSE Market Index fell 6.27 points to 106,653.25, the JSE All Jamaican Composite index rose 7 points to 118,147.30 and the JSE combined index jumped 594.88 to end at 111,679.90 points.
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 13 stocks with bids higher than their last selling prices and 5 with offers that were lower.
In trading, Cable and Wireless added 2 cents, with 792,712 shares changing hands to close at 60 cents, Caribbean Cement shot up to $9.90 with 66,761 shares changing hands for a 90 cents increase, Desnoes and Geddes jumped $1.96 to trade at $15.03 with 19,100 shares trading at a new 52 weeks high. Desnoes and Geddes closed with a bid to buy 10,000 units at $17.28, at $2.25 above the last traded price. Grace Kennedy ended with 1,000 shares trading at $64.50, with a gain of 50 cents. Jamaica Broilers closed at $7.10 with 283,284 shares changing ownership, for a gain of 60 cents, Jamaica Producers lost 15 cents in trading 77,628 shares at $18.50, Jamaica Stock Exchange gained 30 cents in closing at $7.50 with 143,900 shares changing hands. Mayberry Investments traded 15,006 shares at $2.60 at the close with a gain of 25 cents, National Commercial Bank closed with a loss of $2.94 with only 4,025 shares trading to close at $30.05. 138 Students Living lost 20 cents in closing at $4.20 with 15,000 shares, Pan Jamaican Investments traded 8,000 shares at $61 with a loss of 99 cents. Radio Jamaica traded 3,056 shares to close at $4, for an 18 cents decline, Sagicor Group with 20,500 shares closed 9 cents lower at $13.01, Scotia Group ended with 13,099 shares trading at $24 after losing $1.64 and Sterling Investments gained 10 cents in ending at $13 while 8,200 shares traded.
Juniors keep on hitting new records
The junior market keeps on hitting new records, almost daily since the beginning of last week, with sharp rise in prices of Caribbean Cream, Lasco Distributors and Lasco Manufacturing. In trading in Monday morning session, the index for the juniors jumped just shy of the 1,200 points level with Lasco Distributors trading at $2.80, a new all-time high and with Lasco Manufacturing hitting a new record high of $3.50 as 191,888 shares traded between $3.06 and $3.50 but traded recently at $3.25.
Desnoes and Geddes jumped $1.96 to trade at $15.03 with 19,100 shares trading for a new 52 weeks’ high, the bid for the stock is $20. Scotia Bank traded at $24.01 compared to the last trade on Friday of $25.64 and National Commercial Bank lost $2.79 to $30.20 and shot the main market index.
In what is a light trading session only 14 securities have traded at 11 am with a volume of a mere 647,095 units, 9 stocks gained 3 declined.
Trading activity resulted in the JSE Market Index fell 604.36 points to 106,055.16. The JSE All Jamaican Composite index dropped 675.40 points to 117,478.90, the JSE combined index lost 323.25 points to be at 110,761.77 and the junior market is up 2.38 percent or 27.70 points to 1,190.41 for a new record.
Friday’s 7,697 points gain highest on record
The 7,697.11 points jump in the all Jamaican Composite index on the Jamaica Stock Exchange on Friday October 9 is the largest by far in the history of the JSE, beating the 5,788.68 gain on the 5th of April 2004.
Friday’s move pushed the all Jamaican Composite index to 118,154.30 points the highest level in just under 11 years, still more than 20,700 points from the all-time high of 138,917.59 reached on 24th of January 2005. The slump after the 2005 high is the longest, since the ten years decline between May 1972 and June 1981 when the market failed to exceed the then highest level reached in 1972.
While the jump on Friday is by far the largest daily gain, it pales in comparison to the drop on 13th of April 2004 of 9,295.39 points that pulled the index down to 94,329.90.
The highest daily gains and losses in the all-Jamaica Composite index of the JSE are indicated in the table.