The Jamaica Stock Exchange main market resumed its downward drift on Monday, after a rally on Friday that briefly broke five days of decline ahead the final trading day of August.
The market ended, with 40 securities trading in the main and US dollar markets, leading to 12 securities advancing, 20 declining and 8 trading firm, compared to 42 securities trading on Friday.
At the close of trading, the two Sygnus Credit Investments stocks trading in the US market ended at 52 weeks highs while MPC Caribbean Energy traded at an intraday high of $132.
The All Jamaican Composite Index dipped 832.64 points to close at 570,699.86, the JSE Index declined by 742.28 points to close at 519,668.00 but the JSE Financial Index lost 0.28 points to end at 140.42.
Market activity ended with 18,275,886 units valued $114,450,252, in contrast to 24,252,652 units valued at $191,230,760 crossing the main market on Friday.
Sagicor Select Fund was the leading traded stock with 7.35 million shares accounting for 40 percent of total volume, Wigton Windfarm followed with 5.8 million units accounting for 32 percent of the day’s trade and Radio Jamaica with 2.33 million shares for 13 percent of the main market’s volume.
Trading closed with an average 493,943 units valued $3,093,250 for each security traded, in contrast to 638,228 units valued $5,032,388 on Friday. August closed with an average of 1,743,431 units valued at $9,907,963 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ending with bids higher than their last selling prices and 5 with lower offers.
In the main market activity, Barita Investments lost 95 cents to settle at $71.05 with 5,694 shares changing hands, Caribbean Cement lost $3 trading 10,463 shares to close at $80, Eppley Caribbean Fund lost $1.87 to close at $48.13 as just 326 shares changed hands, Eppley traded 343 shares and gained 87 cents to end at $16.96. Jamaica Broilers lost 50 cents to end at $36, trading 49,375 shares. Jamaica Producers lost $1 trading of 24,950 units to end at $26.50, JMMB Group decline by $1.50 in trading of 21,260 units at $49, Kingston Wharves gained $2 to end at $67, in trading 2,200 shares. MPC Caribbean jumped $3.40 and ended market activity exchanging 2,090 shares to close at $130.40 after trading at an all-time high of $132 earlier in the day. NCB Financial gained $1.99 to end at $211.99 with 66,078 stock units changing hands, PanJam Investment fell 99 cents in exchanging 314,312 shares at $102, Proven Investments lost 90 cents trading 7,830 units to close at $36.60. Sagicor Group closed with a gain of $2.50 to sit at $73.50 in swapping of 92,243 shares, Sagicor Real Estate Fund ended trading with just 866 shares, and lost 25 cents to end at $11, Seprod lost 95 cents to end at $55.05 with 33,079 stock units changing hands. Supreme Ventures exchanged 37,378 units and fell 28 cents to end at $25.72, Sygnus Credit Investments exchanged 63,546 shares and lost 50 cents, to close at $20.50 and Wisynco Group lost 50 cents with 297,883 shares changing hands, to settle at $23.50.
Trading in the US securities market resulted in 211,178 units valued $41,927 changing hands. Proven Investments concluded trading of 91,534 shares at 25 US cents, the Jamaican denominated Sygnus Credit Investments, exchanged 8,844 shares and rose 2 cents to a record close of 13 US cents and Sygnus Credit Investments US dollar-denominated stock traded 110,800 shares with a rise of 2.5 cents to close at a record of 16 US cents. The JSE USD Equities Index advanced 3.61 points to close at 194.33.
Trading drops on TTSE – Monday
Trading on the Trinidad & Tobago Stock Exchange ended on Monday with 31,251 shares at a value of $1,140,527 crossed the exchange compared to 271,001 shares at a value of $5,097,064 on Friday.
Trading ended with 13 securities changing hands compared to 15 on Friday and ended with 3 advancing, 5 declining and 5 remaining unchanged.
At the close of the market, the Composite Index lost 0.78 points to 1,383.62. The All T&T Index declined 2.43 points to 1,752.71, while the Cross Listed Index rose 0.56 points to close at 137.40.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 4 stocks closing with the bids higher than the last selling prices and 4 with lower offers.
Gains| First Citizens Bank ended at 29 with settled at $40.39, swapping of 1,307 shares and JMMB Group gained 10 cents and completed trading 822 stock units at $2.20 and Trinidad & Tobago NGL traded 4,675 units and rose 50 cents to close at $24.50.
Losses| Clico Investment Fund shares fell 18 cents and concluded at $24, swapping of 8,120 shares, CinemaOne closed with a loss of 50 cents and concluded at a new low of $7.50, with investors exchanging 3,800 shares, One Caribbean Media shed 9 cents and ended at 52 weeks’ low of $10.01, after exchanging 41 shares. Scotiabank shed 50 cents and settled at a 52 weeks’ low of $58.50, with 6,813 stock units trading and West Indian Tobacco dropped 45 cents and concluded at $105.55, with 1,588 units crossing the exchange.
Firm Traded| Calypso Macro Index Fund traded 500 and closed unchanged at $15.50, Guardian Holdings ended at $18.01, with 114 units crossing the exchange, Republic Financial Holdings closed at $121.33, with and exchange 1,198 units. Sagicor Financial ended at $10.45, in completing trading of 5,399 shares and Unilever Caribbean settled at $24.75, with 674 units changing hands.
Prices of securities trading are those at which the last trade took place.
RJR heads market watch list
Radio Jamaica came into increased buying last week to hit a 52 weeks’ high of $2.58 before pulling back to close at $2.07. The stock shows strong signs of going higher and is the main stock to watch this week.
More buying interest developed for General Accident having posted net profit after tax of $135 million, up 42 percent on the $95.4 million earned in the 2018 period. Pretax profit for the second quarter grew by a stronger 58 percent to $127 from $80 million in 2018. There was no tax change in the second quarter of 2018. The stock price is range bound between $3 and $5.80 but has broken out and should pave the way for a higher price level going forward, some selling around $6.40 could hold back the move higher for a while.
More buying came in for Elite Diagnostic it is unclear if investors are ready to buy out supplies just above $7 in the short term. The stock is poised to move higher with recent signs of improving financial performance. Caribbean Cement has some new buying interest that suggests higher prices ahead, but all of that could well be due to month-end dressing up than real short-term demand. Recent big selling for Jamaican Teas could be over with the near 11 million trade in the second half of last week. Buying interest continues to build that could take the price higher soon.
One technical indicator is showing Jetcon Corporation’s downturn is over and there is likely to be a big upside for the stock after the company reported in their second results an upswing in sales in June and July over the similar periods in 2018 and that orders for August suggest they will enjoy a much better sales than in 2018. It is not very clear but Honey Bun is on an upswing and could move higher over the next few weeks.
Medical Disposables closed with just one offer of 49,900 shares for sale at $8.80, but buyers may wait out buying until more sellers come with lower offers.
Lasco Manufacturing is hitching to break into the $6 region as more demand has come in for the stock. Wisynco Group came under selling pressure recently with the price moving into the $30 region, technical reading shows it at support around $24 with an upward bias.
No increases on TTSE on Friday
Trading on the Trinidad & Tobago Stock Exchange ended on Friday with 13 securities changing hands, compared to 15 on Thursday and ended with no stock advancing, 5 declining and 8 remaining unchanged.
Three stocks closed at 52 weeks’ low as 271,001 shares at a value of $5,097,064 crossed the exchange compared to 585,230 shares valued $8,422,142 on Thursday.
At the close of the market, the Composite Index lost 0.13 points on Friday to 1,382.84. The All T&T Index gained 0.25 points to 1,755.14, while the Cross Listed Index remained unchanged to close at 136.84.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 3 stocks closing with the bids higher than the last selling prices and 4 with lower offers.
Gains| There were no stocks trading with gains at the close on Friday.
Losses| CinemaOne lost 40 cents to close at a 52 weeks’ low of $8 with an exchange of 180 shares, National Flour traded 1,700 shares after falling 1 cent to end at $$1.64. Scotia Group lost 48 cents closed at a 52 weeks’ low $59, with an exchange of 1,865 stock units, Trinidad & Tobago NGL traded 81,869 units and lost $1 to close at a 52 weeks’ low of $24 and West Indian Tobacco dropped $1 to end at $106 with 500 shares crossing the exchange.
Firm Trades| Ansa McAl traded 46,300 shares at $55.20, Clico Investment Fund settled unchanged at $24.18, with 6,368 stock units changing hand, First Citizens Bank closed in trading of 476 units at $40.10. Grace Kennedy traded 1,201 shares and closed unchanged at $3.29, National Enterprises exchanged of 113,294 shares at $6, NCB Financial Group traded 59,287 shares unchanged at $10.01, Sagicor Financial closed trading of 4,985 units to close at $10.45 and Unilever Caribbean traded 4,541 shares and closed at $24.75.
Prices of securities trading are those at which the last trade took place.
3 way tie in TTSE movement on Thursday
Trading on the Trinidad & Tobago Stock Exchange ended on Thursday with 15 securities changing hands, compared to 12 on Wednesday and ended with 5 advancing, 5 declining and 5 remaining unchanged.
Three stocks closed at 52 weeks’ low and one at a 52 weeks’ high as 585,230 shares valued $8,422,142 crossed the exchange from 19 securities trading compared to 528,435 shares valued $3,191,853 on Wednesday
At the close of the market, the Composite Index lost 1.06 points on Thursday to 1,382.97. The All T&T Index declined 2.09 points to 1,755.39, while the Cross Listed Index remained unchanged points to close at 136.84.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 3 stocks closing with the bids higher than the last selling prices and 4 with lower offers.
Gains| Agostini’s rose 25 cents to close at a 52 weeks’ high of $24 in exchanging 511 shares, Angostura Holdings traded 5,100 shares after rising 5 cents to close at $15.84, Clico Investment Fund rose 3 cents to settle at $24.18, with 1,630 stock units changing hands. First Citizens Bank closed with a rise of 8 cents in trading of 1,510 units at $40.10 and Republic Financial gained 4 cents and settled at $121.33, with 736 stock units changing hands.
Losses| Massy Holdings lost 45 cents and settled at $54.05 with 480 stock units trading, National Enterprises lost 2 cents settled at a 52 weeks’ low of $6, with an exchange of 1,863 shares, National Flour traded 2,730 shares after falling 3 cents to end at $$1.65. Scotia Group lost 2 cents closed at a 52 weeks’ low $59.48, with an exchange of 500 stock units and Trinidad & Tobago NGL traded 81,869 units and lost 50 cents to close at a 52 weeks’ low of $25.
Firm Trades| Ansa McAl traded 1,290 shares at $55.20, Ansa Merchant Bank exchanged 27,858 shares to end at $36, First Caribbean International Bank traded 270 stock units at $8.50, Guardian Holdings closed unchanged at $18.01, after exchanging 25,000 shares. NCB Financial Group traded 110,000 shares unchanged at $10.01 and Sagicor Financial closed trading of 328,983 units to close at $10.45.
Prices of securities trading are those at which the last trade took place.