Jamaican stocks surge to record close

Prices surged on the main market of the Jamaica Stock Exchange, to close on Wednesday at a new closing high as the main market indices were up by more than 4,000 points. The market ended with the All Jamaica Composite Index climbing 23.5 percent for the year to date, the JSE market index gaining 25.6 percent and the Combined index rising 27.6 percent.
The All Jamaica Composite Index had sharp uptick of 4,561.30 points, to close at 206,750.96. The JSE Market Index surged 4,078.62 points to finish at 189,246.69. The JSE combined index jumped 3,991.66 points to close at 201,943.16.
Market activity ended with 36 securities changing hands. At the close, the prices of 13 stocks gained while 8 declined in the overall market, including 4 stocks rising and 3 falling, in the junior market.
At the close with 4,343,022 units valued at $31,074,893 changed hands, compared to 4,431,672 units valued at $71,950,263 changing hands on Thursday. Of the stocks traded, the junior market accounted for 2,545,501 units changing hands, valued at $2,533,304.
The average trade for the day in the main market ended at 81,706 shares compared to an average of 167,153 units traded on Friday. The average for the month to date stands at 202,375 shares compared to an average of 323,045 units for the month up to Friday. November ended with an average of 208,466 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 13 stocks with bids higher than their last selling prices and 7 with lower offers.
Some notable stocks with bids above the last sale price are Kingston Wharves with a bid of $21 versus the last price of $20.01 Pan Jam with a bid of $27.50 versus the last price of $27 and Seprod with a bid of $29.80 with a last sale of $27.50.
In market activity, Barita Investments closed with a gain of 45 cents to $6 with 59,690 shares trading, Berger Paints traded 14,000 shares to end at $5.60, Cable & Wireless rose 2 cents to close at 72 cents with 98,075 units trading, Caribbean Cement ended with gain of $4.70 while trading 25,306 shares at $35.40. Ciboney traded 257,346 shares at 22 cents, Grace Kennedy closed at $41 with 7,900 shares changing hands, Jamaica Broilers closed at $14.08 with 7,515 shares changing hands, Jamaica Producers lost 30 cents to end at $8.85 with 968,280 units trading, Jamaica Stock Exchange fell 4 cents in trading 5,325 shares, to end at $5.55. Mayberry Investments fell 10 cents to end at $5.40 with 63,413 shares changing hands, National Commercial Bank rose 76 cents to end at $49.76 with 27,850 shares changing hands, PANJAM Investment traded 2,000 shares to close at $27. Pulse Investments traded 115,621 shares with a fall of 90 cents to close at $3, Radio Jamaica traded 80,000 shares to close at $1.22 after rising 2 cents, Sagicor Group closed with 8,250 shares changing hands at $30, Scotia Group with just 5,000 shares changing hands and closed with a gain of 99 cents at $34.99 and Proven Investments closed at 21.95 US cents up from 21.05 US cents, with 37,735 units changing hands.