Cement jumps $6.90 to record high

Caribbean Cement ended trading at a new closing high of $64.90 on Monday.

Caribbean Cement jumped sharply by $6.90 to a new high of $64.90 on Monday while Supreme Ventures hit an all-time high of $29.50 to help kick off the second quarter for the main market positively.
Investors sucked out the limited volume of supply of Cement on offer but had just one offer of just 1,500 units at $105. Supreme Ventures has been in short supply recently and have decent demand, ended with just 18,425 shares on offer at $29.50.
At the end of trading the Jamaica Stock Exchange main market inched closer to the record high of November last year and is now within less than 7,000 points away.
The JSE All Jamaican Composite Index gained 298.91 points to end at 426,479.51 and the JSE Index advanced 271.62 points to 388,548.53.
At the close of the main and US markets, 31 securities traded, compared to 35 on Friday and leading to 11 advancing, 11 declining and 9 closing unchanged.
Trading ended with 4,774,806 units valued at $58,420,189 crossing the exchange, compared to 5,517,346 units valued at over $192,929,461, changing hands on Friday.
Pulse Investments led trading with 3.3 million shares, accounting for 69 percent of the day’s volume in the main market, followed by Grace Kennedy with 288,330 units or 6 percent of the volume traded and Wisynco Group with 242,543 shares amounting to 5 percent of the overall volume.
Market activity ended with an average of 170,529 units valued at over $2,086,435, in contrast to 183,912 shares valued at $6,430,982 on Friday. Trading for March resulted in an average of 438,501 shares at $9,851,307, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 11 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments rose 85 cents to $44.77, with an exchange of 1,530 shares, Caribbean Cement jumped $6.90 to a record close of $64.90, with 47,525 shares changing hands, Jamaica Broilers shed $2.49 in trading 14,217 units to close at $30.01, Jamaica Producers lost $1 to close at $22, with 60,000 shares changing hands. JMMB Group concluded trading of 10,567 shares after rising 50 cents to end at $33.50, Mayberry Investments rose 70 cents trading 7,100 shares to close at $9.20,  Sagicor Group  declined 48 cents to settle at $38.02, with 34,475 shares changing hands.  Scotia Group dropped $1.30 trading 65,407 shares at $51.50, Seprod rose 44 cents to close at $43.44 in trading 2,351 shares, Sterling Investments  rose 49 cents and concluded trading at $3.99, with 51,216 stock units. Supreme Ventures  rose $2.01 to finish at a record high of $29.50, with an exchange of 111,448 units, Sygnus Credit Investments lost 30 cents in trading 21,821 units, to end at $12 and Wisynco Group lost 45 cents and ended trading of 242,543 shares to close at $11.50.
Trading in the US dollar market resulted in 20,196 units valued at over $14,334 changing hands. JMMB Group 6% US dollar preference share trading  8,000 units and gained 3 cents to close at US$1.04, JMMB Group

5.75% USD preference share ended at $2 with 2,500 units changing hands and Sygnus Credit Investments had 9,696 units trading at 10 US cents. The JSE USD Equities Index gained 0.45 points to close at 176.24.

About IC Insider.com