Ciboney’s extraordinary run to new high

The volume of stocks trading climbed 20 percent above Tuesday’s level but with 51 percent less dollars chasing stocks, with Ciboney accounting for a third of the volume and hitting a new multi-year high, in continuation of an extraordinary run for the stock in recent weeks, after the Jamaica Stock Exchange Main Market resumed activity on Thursday, following the closure for the Ash Wednesday holiday.

Ciboney traded at a new 52 weeks’ high of $1.03.

The All Jamaican Composite Index rose 530.13 points to close at 429,893.90, the Main Index advanced 648.27 points to 392,156.46 and the JSE Financial Index lost 0.14 points to close at 100.15.
Trading ended with 49 securities changing hands, up from 45 on Tuesday and closed with prices of 17 stocks rising, 21 declining and 11 remaining unchanged.
The PE Ratio averages 16.9 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading ended with 11,779,247 shares for $46,765,256 versus 9,841,467 units at $95,818,004 on Tuesday. Ciboney led trading with 32.3 percent of total volume, after an exchange of 3.8 million shares at a new multi-year high of $1.03 and closing with the bid at $1.07. Transjamaican Highway followed with 14.6 percent for 1.72 million units, Sagicor Select Financial Fund 14.5 percent with 1.70 million units changing hands and QWI Investments accounted for 9.3 percent of volume traded with 1.1 million units.
Trading for the day averaged 240,393 units at $954,393 for each security, compared to an average of 218,699 units at $2,129,289 on Tuesday. Month to date averages 399,327 units at $2,608,760 for each security, in contrast to 413,643 units at $2,752,324 on the prior trading day. Trading in January closed with an average of 311,275 units at $1,432,133.
Investor’s Choice bid-offer indicator reading has 14 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the 1 PM close, Berger Paints fell 88 cents to $13.01 with 9,279 stocks traded, Caribbean Cement shed $1.49 to finish at $61.50, with 3,874 units changing hands. Carreras lost 25 cents to end at $7, after exchanging 901,960 shares, Eppley climbed $1.72 to $24.70, with 12,456 stock units clearing the market, First Rock fell 50 cents to $15.50 with investors swapping 18,565 stocks. Grace Kennedy fell $2 to $77 with 33,896 units changing hands, Jamaica Producers dipped 33 cents to $20.01 with 2,694 shares traded, Kingston Wharves jumped $3 to $48, with an exchange of 2,609 stock units. Mayberry Equities advanced 60 cents to $7.20 with a transfer of 500 stocks, MPC Caribbean Energy jumped $20.99 to $156 with 500 shares traded. NCB Financial gained 50 cents to close at $140 with 51,047 stocks changing hands, 138 Student Living dipped 35 cents to $5.05 with a transfer of 5,317 shares, Palace Amusement dropped $92.99 to $907 with an exchange of 37 units, Portland JSX climbed 39 cents to $8.40 with 6,360 shares trading. Proven Investments increased $1.49 to $37.99 with 600 stocks traded, Sagicor Group shed $1.70 in closing at $50 with 50,015 units changing hands, Seprod gained $2 to settle at $69 with an exchange of 29,388 stock units. Sygnus Credit Investments rose 35 cents to $14.90, trading 54,293 units and Victoria Mutual Investments advanced 27 cents to $5.80 with 139,146 shares crossing the exchange.
In the preference segmentEppley 8.25% fell by 85 cents to $6.50 with 24,003 units changing hands and Eppley 8.75% lost 40 cents to $7 with an exchange of 2,003 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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