Moderate TTSE trading on Wednesday

Trading on Trinidad & Tobago Stock Exchange closed on Wednesday with just 12 securities being exchanged versus 19 on Tuesday, with 3 advancing, 2 declining and 7 remaining unchanged.
The Composite Index rose 0.09 points to 1,232.82, the All T&T Index added 0.19 points to 1,713.26 and the Cross Listed Index remained unchanged at 101.14.
Market activity ended with 53,969 units valued at $1,679,636 changing hands, compared to 162,239 units valued at $4,049,174, on Tuesday.
IC bid-offer Indicator| At the close of trading, the Investor’s Choice bid-offer indicator reading shows market sentiment with 2 stocks ending with higher bids than the last selling prices and 3 with lower offers.
Stocks with Gains| LJ Williams B share finished 5 cents higher to 75 cents, after exchanging 5,000 shares, National Enterprises concluded trading and rose 1 cent to end at $9.01, with 1,085 stock units changing hands and West Indian Tobacco added 4 cents and completed trading at $88.54, exchanging 4,304 units.
Stocks Losses| Scotiabank closed with a loss of 1 cent and completed trading at $65, with 1,324 units and Trinidad & Tobago NGL closed with a loss of 10 cents at $30.01, after exchanging 25,907 shares.
Firm Trades| Calypso Macro Index Fund traded 1,344 shares at $15.74 but traded as low as $15 during the day, Clico Investments ended at $19.94, with 5,863 stock units changing hands, First Citizens settled at $35, after exchanging 2,332 shares, JMMB Group concluded trading at $1.80, after exchanging 700 shares, Massy Holdings ended at $46.90, after exchanging 1,210 shares, One Caribbean Media exchanging 4,000 shares at $12.29, after and Republic Financial Holdings settled at $103, after exchanging 900 shares.
Prices of securities trading for the day are those at which the last trade took place.

More fall for JSE stocks – Tuesday

Salada Foods traded at a all-time high of $18 on Tuesday.

In moderate trading, the Jamaica Stock Exchange fell for the second day in a row on Tuesday, leading to, the All Jamaican Composite Index declining 2,005.90 points to 344,114.23 and the JSE Index shedding 1,827.60 points to 313,526.94.
Trading in the main market ended with 4,859,195 units valued at $60,716,560 compared to 4,879,200 units valued at $45,250,338 on Monday.
Market activities resulted in 28 securities trading including 2 in the US dollar market compared to 29 securities trading on Monday. At the end of trading, the prices of 13 stocks rose, 7 declined and 8 traded unchanged, including Grace Kennedy that ended at a 52 weeks’ closing high of $58.50 and Salada Foods at a closing all time high of $18.
The day’s volume was led by, Mayberry Jamaican Equities with 1,244,346 units and 25.6 percent of the main market volume, followed by 1834 Investments with 1,006,761 units and 20.7 percent of the day’s volume and Carreras with 740,950 units accounting for 15.25 percent traded volume.
Stocks with major price changes| Berger Paints ended at $22 after rising 99 cents with 4,801 stock units changing hands, Caribbean Cement dropped $5 to $45 exchanging 260,066 shares, Jamaica Broilers traded 17,670 stock units and added $1.50 to end at $25.50, JMMB Group lost $1 and ended at $29 trading 343,345 shares, PanJam Investment rose 50 cents and finished trading 28,787 shares at $52.50, Sagicor Real Estate Fund finished with a loss of 50 cents to close at $14, exchanging 57,552 units, Salada Foods jumped $1.50 to settle at an all-time high of $18, trading 13,000 shares Scotia Group traded 16,750 units and rose 52 cents to end at $52.52, Seprod jumped $2 in trading 6,994 units at $36 and Supreme Ventures fell 51 cents in trading 56,290 shares at $15.
Trading in the US dollar market closed with 60,825 units valued at US$11,992, as Proven Investments rose 12 cents and closed at 20 US cents trading 59,325 shares and Sygnus Credit Investments traded 1,500 shares at 10 US cents. The JSE USD Equities Index eased 0.07 points to 159.24.
Trading resulted in an average of 186,892 units valued at an average of $2,335,252 for each security traded. In contrast to 180,711 units for an average of $1,675,938 on Monday. For the month to date an average of 195,162 shares valued at an average of $3,826,002 versus 196,186 shares valued at an average of $4,035,512 on Monday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 5 closing with lower offers.

TTSE stocks trade mix – Tuesday

T&T NGL closed at a record high on TTSE on Tuesday.

Trading on Trinidad & Tobago Stock Exchange ended on Tuesday with trading in 19 securities against 14 on Monday, with 4 advancing, 4 declining and 11 remaining unchanged leading gains in all market indices.
Market activity ended with one stock ended at 52 weeks’ closing high as 162,239 units valued at $4,049,174 changing hands, compared to 203,230 shares valued at $1,737,939, on Monday.
At the close the Composite Index rose 0.72 points to 1,232.73, the All T&T Index added 1.11 points to 1,713.07 and the Cross Listed Index gained 0.04 points to close at 101.14.
IC bid-offer Indicator| At the close of trading, the Investor’s Choice bid-offer indicator reading shows market sentiment with 2 stocks ending with higher bids than the last selling prices and 3 with lower offers.
Stocks with Gains| Guardian Holdings gained 5 cents and concluded trading 8,191 units to close at $16.60, JMMB Group rose 5 cents and completed trading at $1.80, after exchanging 13,766 shares, Trinidad & Tobago NGL closed with a gain of 11 cents and ended at a 52 weeks’ high of $30.11, after exchanging 18,085 shares and West Indian Tobacco gained 51 cents and concluded trading at $88.50 after exchanging 15,632 shares.
Stocks Losses| Grace Kennedy closed trading with a loss of 15 cents and settled at $2.75, with 5,080 stock units changing hands, National Flour shed 5 cents and concluded trading of 38,134 units at $1.70, Scotiabank lost 1 cent and ended at $65.01, with 235 units and Unilever Caribbean ended trading 5 cents lower to settle at $26.85, with 1,434 stock units changing hands.
Firm Trades| Ansa Mcal concluded trading at $57, with 72 units, Ansa Merchant ended at $40, after exchanging 778 shares, Clico Investments settled at $19.94, with 31,180 stock units changing hands, First Caribbean International Bank traded 9,843 units at $8.49, First Citizens exchanged 1,943 shares and ended at $35, Massy Holdings completed trading at $46.90, after exchanging 3,743 shares, National Enterprises settled at $9, with 269 stock units changing hands, NCB Financial Group exchanged 4,400 shares and ended at $5.66, Republic Financial Holdings completed trading at $103, after exchanging 7,796 shares, Sagicor Financial settled at $7.50, with 1,618 stock units changing hands and Trinidad Cement completed trading at $2.90, after exchanging 40 shares.

Prices of securities trading for the day are those at which the last trade took place.

Profit results could ignite market

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There is little doubt that the summer rally is on for Jamaica stocks and is being helped by some good results for a number of the companies. Release of results over the next two days could be a huge catalyst for the market in the days ahead.
Last week a number of stocks traded at 52 weeks’ highs or historical highs. Profit results are expected to flood the market over the next two days and could have a big impact on prices.
Last week a number of on the Watch list traded at record high levels and more of that is expected this week.
Stocks with scarce supplies and could spring surprises include Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group. The main market is not the only segment with limited supplies. The Junior Market supplies continue to be limited for many of the listings. The list includes, Blue Power, Caribbean Flavours, Cargo Handlers, Caribbean Producers, Derrimon Trading, Express Catering, General Accident,Caribbean Cream, Medical Disposables and Stationery and Office Supplies.
The main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below the index and the Junior Market that is at a 9 months’ high, is being steered by an upward rising long-term support line and the start of a golden cross. The golden cross is a very bullish long-term signal.

JSE lost altitude – Monday

Carib Cement jumped $7.99 to end at a 52 weeks’ closing high of $50.

In moderate trading, the Jamaica Stock Exchange closed down on Monday after the All Jamaica Composite Index hit a new high of 347,919.92 points in early trading.
At the close trading,  advancing stocks were the same as stocks, leading to the All Jamaican Composite Index to decline by 880.86 points to 346,120.15 and the JSE Index in shedding 802.56 points to end at a record close of 315,354.54.
Trading in the main market ended with 4,879,200 units valued at over $45,250,338 compared to 11,481,249 units valued $123,719,859 on Friday.
Market activities resulted in 29 securities trading including 2 in the US dollar market compared to 26 securities trading on Friday. At the end of trading, the prices of 9 stocks rose, 9 declined and 11 traded unchanged, including
Caribbean Cement traded at an all-time closing high of $50 with very low volume while the Jamaica Stock Exchange traded at a 52 weeks’ high of $8.50 but pulled back at the close to $8.
The day’s volume was led by, Mayberry Jamaican Equities with 2,626,900 units and 53.84 percent of the main market volume, followed by Jamaica Stock Exchange with 822,926 units and Victoria Mutual Investments with 298,913 units.
Stocks with major price changes| Barita Investments lost 50 cents and ended at $9, trading 7,186 stock units, Caribbean Cement jumped $7.99 to a 52 weeks’ closing high of $50 exchanging a mere 610 shares, but ended with the being offered at $45 Jamaica Broilers traded 27,922 stock units and added $1.90 to end at $24, Mayberry Investments lost 25 cents to end at $8 trading just 18,821 shares, Kingston Wharves lost 75 cents to end at $51.50, after trading 2,500 stock units, NCB Financial Group lost 50 cents and ended trading at $103.50, exchanging 42,838 shares, Scotia Group traded 9,910 units and shed 80 cents to end at $52, Supreme Ventures fell 29 cents in trading 81,921 at $15.51 and Wisynco Group fell 25 cents to close at $9.25 after trading 197,432 shares.
Trading in the US dollar market closed with 35,200 units valued at US$65,830 as JMMB Group 5.75% preference share rose 12 cents and closed at US$2.15 trading 35,200 shares and Margaritaville rose 1 cent in trading 5,000 shares at 18 US cents. The JSE USD Equities Index rose 0.47 points to 159.31.
Trading resulted in an average of 180,711 units valued at over $1,675,938, in contrast to 478,385 shares valued at $5,154,994 on Friday. For the month to date an average of 196,186 shares valued at an average of $4,035,512 versus 198,469 shares valued at an average of $4,438,731 on Monday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 10 stocks ended with bids higher than their last selling prices and 4 closing with lower offers.

9 months’ high for Junior Market – Monday

Derrimon ended at a new closing 52 weeks’ high on Monday.

The Junior Market move higher at the close of trading on Monday rising 31.40 points to close at 3,158 as the number of declining and advancing stocks were equal for a second day.
At the end of market activity, one stock traded at a 52 weeks’ intraday high and one closed at a 52 weeks’ high. Trading ended with 27 securities changing hands, compared to 26 on Friday, with 11 advancing, 7 falling and 9 remaining unchanged.
The market closed with, 2,611,628 units valued at $11,933,757 compared to 1,989,152 units valued at $15,833,326 on Friday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 8 stocks ending with bids higher than their last selling prices, 2 closed with lower offers.
Trading closed with an average of 124,363 units for an average of $568,274 in contrast to 76,506 units for an average of $608,974 on Friday. The average volume and value for the month to date amounts to 201,586 units valued at $1,097,411, compared to 213,423 units valued at $1,178,519 previous trading day. Trading in July, averaged 154,060 units valued at $655,146 for each security traded.
At the close of trading, AMG Packaging ended at $1.95 after rising 4 cents trading 930 stock units, Blue Power jumped $5 to $45, in exchanging 10,166 units, CAC 2000 finished trading and lost 1 cent to end at $8, with 2,000 shares changing hands, Cargo Handlers climbed 89 cents to $10.89, trading 500 shares, Caribbean Producers finished trading 2,645 units with a rise of 27 cents to $6.77. Derrimon Trading concluded trading of 23,900 shares and rose $1 to end at a 52 weeks’ closing high of $25, Elite Diagnostic settled with a loss of 10 cents at $2.80, after exchanging 66,552 units, Everything Fresh traded 51,500 shares and ended at $1.90. Express Catering traded with a loss of 10 cents at $8, with 120,080 shares, FosRich Group finished trading 10 cents higher at $3, after swapping 1,116,649 shares. Honey Bun concluded trading 19,521 shares and gained 61 cents to close at $4.51, Iron Rock lost 57 cents to close at $3.50, with 13,394 shares changing hands, Jamaican Teas ended trading 24,588 stock units and added 15 cents to $4.05, KLE Group gained 31 cents to $2.81, exchanging 669 shares. Lasco Distributors concluded trading of 73,800 stock units with a loss of 1 cent to close at $3.99, Lasco Financial finished 11 cents higher at $5.90, trading 1,012,633 shares, Lasco Manufacturing settled at $4, trading 12,500 shares, Main Event ended trading 15,000 shares with a loss of 19 cents at $5.81. Medical Disposables dropped $1.20 to $5.20, with 28,901 shares and Stationery and Office closed 50 cents higher at $9.50, trading 5,700 units. In the Junior Market preference segment, Eppley 8.25% concluded trading at $6.20, with 10,000 units, changing hands.
Prices of securities trading for the day are those at which the last trade took place.

All 3 TTSE stock indices rise – Monday

Trinidad & Tobago Stock Exchange Head Quarters

Trading on Trinidad & Tobago Stock Exchange ended on Monday with trading in 14 securities against 15 on Friday, with 3 advancing, 4 declining and 7 remaining unchanged leading gains in all market indices.
Market activity ended with one stock ended at 52 weeks’ closing high as 203,230 shares valued at $1,737,939 changing hands, compared to 366,114 shares valued at $2,694,047, on Friday.
At the close the Composite Index rose 1.09 points to 1,232.01, the All T&T Index added 0.22 points to 1,711.96 and the Cross Listed Index gained 0.27 points to close at 101.10.
IC bid-offer Indicator| At the close of trading, the Investor’s Choice bid-offer indicator reading shows market sentiment with 3 stocks ending with higher bids than the last selling prices and 2 with lower offers.
Stocks with Gains| Guardian Holdings concluded trading of 10,696 units after rising 5 cents to $16.55, NCB Financial Group added 1 cent and settled at $5.66, after exchanging 5,000 shares and Republic Financial Holdings gained 5 cents and ended trading at a 52 weeks’ high of $103, after exchanging 1,200 shares.
Stocks Losses| Clico Investments traded with a loss of 6 cents and ended at $19.94, with 23,050 stock units changing hands, First Citizens closed with a loss of 1 cent and settled at $35, after exchanging 2,963 shares, National Flour shed 4 cents and completed trading at $1.75, with 5,000 units and Unilever Caribbean lost 10 cents and ended at $26.90, with 50 stock units changing hands.
Firm Trades| Calypso Macro Index Fund traded 314 shares at $15.74, Grace Kennedy ended at $2.90, with 66,687 stock units changing hands, Massy Holdings closed at $46.90, after exchanging 281 shares, One Caribbean Media concluded trading of 796 shares at $12.29, Sagicor Financial ended at $7.50, with 65,393 stock units changing hands, Scotiabank completed trading of 900 units at $65.02 and Trinidad Cement ended at $2.90, after exchanging 20,900 shares.
Prices of securities trading for the day are those at which the last trade took place.

JSE PE ratios heading higher

The stock market combined index climbed from 82,934.95 points at the end of 2013 to 324,801.52 on Friday, for increase of 292 percent but the average PE ratio has moved from 7.3 by just under 100 percent to peak at an average of 14.5 times last year December.
During the same period, Treasury bill rates tumbled 75 percent from just over 8 percent to 2 percent or were 300 percent more than they are now. While the fall in interest rate would appear to be close to the rise in the market index, the much slower increase in the PE ratio indicates that the major part of the rise is due to increased profits.
Based on the trends in interest rates and PE ratios, coupled with the serious shortage of supply of several stocks, currently, the PE ratio of the market will rise from the current level of 12.5, first to the high of 14.5 reached at the end of December last year and should move on to around 17 to 18 by the end of the year or early 2019.
A look at the chart, indicates that investors are more cautious in moving stock valuation higher. The PE ratio seems to be moving higher each year since the sharp jump in 2015, suggesting that the increase in PE is not yet over. The other factor is that interest rates have fallen faster in 2018 than for some time, investors seem to need more time to digest the rapid change in rates and determine how long it likely to remain at very low levels.
The big question to come will be, when will interest rates start to reverse? If the PE hits 17 by year end, it would represent an approximate 35 percent increase from current levels. Quite a number of stocks are selling above the average of 12.5 presently. A total of 24 stocks in both markets trade above 12.5 and 7 each in the main market and Junior Market selling above 16 times current year’s earnings.

3 new highs for Junior Market – Friday

Iron Rock hits 52 weeks’ high of $4.07 on Friday.

The Junior Market move higher at the close of trading on Friday rising just 0.99 points to close at 3,126.60 as the number of declining and advancing stocks were equal for a second day.
At the end of market activity, three stocks traded at a 52 weeks’ high and one closed at a 52 weeks’ low.
The market closed with, 1,989,152 units valued at $15,833,325.80 compared to 17,879,196 units valued at $94,384,927 on Thursday and ended with 26 securities changing hands, compared to 22 on Thursday, with 10 advancing, 10 falling and 6 remaining unchanged.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 8 stocks ending with bids higher than their last selling prices, 3 closed with lower offers.
Trading closed with an average of 76,506 units for an average of $608,974 in contrast to 812,691 units for an average of $4,290,224 on Thursday. The average volume and value for the month to date amounts to 213,423 units valued at $1,178,519, compared to 245,494 units valued at $1,311,926 previous trading day. Trading in July, averaged 154,060 units valued at $655,146 for each security traded.
At the close of trading, Access Financial closed at $36, exchanging 1,800 shares, AMG Packaging ended with a loss of 9 cents at $1.91, trading 7,000 stock units, Blue Power concluded trading at $40, with 4,820 units, Cargo Handlers settled with a loss of 89 cents at $10, trading 310,120 shares, Caribbean Flavours traded 5,000 stock units and rose 50 cents to $13. Derrimon Trading concluded trading of 236,050 shares and rose $1 to a 52 weeks’ high of $24, after trading at $25 ahead of the close as news broke that the company entered into an agreement to acquire Woodcats International. Dolphin Cove finished at $16.50, with 816 stock units changing hands, Elite Diagnostic settled 15 cents higher at $2.90, with 90,678 units, Everything Fresh traded 157,069 shares and lost 1 cent to end at 1.90, Express Catering traded 72,934 shares and ended 10 cents higher at a 52 weeks’ high of $8.10. FosRich Group finished trading 26,184 shares with a loss of 7 cents to end at $2.90, General Accident climbed 40 cents to $3.80, after trading 8,350 stock units, Honey Bun concluded trading with a loss of 41 cents at $3.90, with 1,000 shares, Iron Rock jumped 92 cents higher to close at a 52 weeks’ high of $4.07, with 553,112 shares changing hands. Jamaican Teas ended trading with a loss of 15 cents at $3.90, with 5,000 stock units, Jetcon Corporation traded at $4, with 29,302 units, Key Insurance finished trading 12,547 shares with a loss of 45 cents to end at $3.02, Knutsford Express ended with a loss of 21 cents at 52 weeks’ low of $11.30, after exchanging 2,000 shares. Lasco Distributors concluded trading at $4, with 4,740 stock units, Lasco Financial traded 68,728 units and finished 39 cents higher at $5.79, Lasco Manufacturing rose 7 cents to end at $4, trading 38,000 shares, Main Event ended trading with a loss of 85 cents at $6, with 15,400 shares traded. Medical Disposables traded 92,420 shares and rose 40 cents to $6.40, Stationery and Office closed at $9 after gaining 97 cents with 238,725 units changing hands and tTech concluded trading at $5, with 2,357 shares trading. In the junior market preference segment, Eppley 8.25% concluded trading with a loss of 1 cent at $6.20, with 5,000 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

New closing high for JSE – Friday

The Jamaica Stock Exchange took another sizable jump to end at a record close on Friday as advancing stocks out-numbered declining stocks in continuation of the market’s record bull run.
At the close trading, the All Jamaican Composite Index rose 305.19 points to 347,001.01, the first time it closed above 347,000 points and the JSE Index climbed 278.07 points to end at a record close of 316,157.10. The market has gained 9.6 percent for the year to date, the shortage of stocks and low interest rates suggest that the gain for the rest of the year should exceed that of the first 7 months.
Trading in the main market ended with 11,481,249 units valued $123,719,859 compared to 7,873,698 units valued at $335,479,879 on Thursday.
Market activities resulted in 26 securities trading including 2 in the US dollar market compared to 28 securities trading on Thursday. At the end of trading, the prices of 13 stocks rose, 8 declined and 5 traded unchanged, including Caribbean Cement trading at an intraday high of $50 and Salada Foods trading at an all-time high of $17 before pulling back at the close, to a 52 weeks’ high of $16.50.
The day’s volume was led by, Mayberry Jamaican Equities with 9,408,575 units 81.95 percent of the main market volume, followed by Scotia Group with juts 351,092 units and Jamaica Stock Exchange with 281,270 units.
Stocks with major price changes| Berger Paints rose $1 and ended at $21, trading 9,539 stock units, Caribbean Cement fell $1.49 to $42.01 exchanging 76,432 shares, Jamaica Broilers traded 46,334 stock units and dropped $3.40 to end at $22.10, Jamaica Stock Exchange rose 49 cents to close at $8, with 281,270 shares changing hands, JMMB Group rose 50 cents and ended at $30, trading 27,350 shares. Mayberry Investments lost 75 cents to end at $8.25 trading just 8,335 shares, Kingston Wharves finished at $52.25, after rising 25 cents with 3,842 stock units, NCB Financial Group lost 80 cents and ended trading at $104, exchanging 27,159 shares, PanJam Investment jumped $1 to $52 trading 87,500 stock units. Salada Foods jumped $1.50 and ended trading at 52 weeks’ closing high of $16.50, with 35,500 stock units, Scotia Group traded 351,092 units and gained 80 cents to end at $52.80 and Sygnus Credit Investments fell 49 cents in trading 12,010 at $12.
Trading in the US dollar market closed with 174,520 units valued at US$31,642 as Proven Investments fell 1 cent and closed at 19 US cents trading 3,200 shares and Sygnus Credit Investments fell 0.25 cents in trading 12,010 at 0.0975 US cents. The JSE USD Equities Index rose 3.70 and closed at 154.43
Trading resulted in an average of 478,385 units valued at an average of $5,154,994 for each security traded. In contrast to 302,835 units for an average of $12,903,072 on Thursday. For the month to date an average of 198,469 shares valued at an average of $4,438,731 versus 185,362 shares valued at an average of $5,398,127 on Thursday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 6 closing with lower offers.