JMMB pushes JSE to record close

JMMB Group traded at a record high on Thursday.

The Jamaica Stock Exchange main market ended at a new record close on Thursday with JSE All Jamaican Composite Index jumping 6,867.07 points to  a record close of 455,577.71.
The JSE Index Index climbed a sharp 6,240.31 points to end at all all-time closing high of 414,989.16. Thursday’s big move was sparked by a $5.06 jump in the price of JMMB Group, following an announcement that the group will invest a minimum of US$200 million in Alignvest Acquisition ll Corporation, a Special Purpose Acquisition Corporation listed on the Toronto Stock Exchange. Also contributing to the sharp rise in the indices are movement in the prices of NCB Financial, PanJam Investment, Sagicor Group, Scotia Group and Seprod.
At the close market activity, the main and US markets traded 35 securities, compared to 35 on Wednesday leading to 17 advancing, 10 declining and 8 closing unchanged.
Trading ended with 8,832,435 units valued $286,901,142 changing hands, compared to 4,960,274 units valued at $377,862,768 trading on Wednesday.
Trading ended with an average of 276,014 units valued at an average of $8,965,661 for each security traded. In contrast to 155,009 units for an average of $11,808,211 on Wednesday. The average volume and value for the month to date, amounts to 151,264 units valued $10,107,212 and previously, 140,206 units valued at $10,217,241. Trading for April resulted in an average of 157,923 shares at $3,718,919, for each security traded.
JMMB Group led trading with 5.08 million shares accounting for 57.5 percent of total main market volume, followed by Jamaica with 1.02 million units and 12 percent of the day’s trades and Proven Investment closed with 626,638 shares for 7 percent of volume traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with a weak signal for the coming day with 5 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments lost 50 cents to close at $44.50, with 27,535 shares Caribbean Cement recovered $1 in trading of 18,510 shares to close at $71, Eppley rose $1.20 and ended trading 24,757 shares at $12.50, Grace Kennedy gained 80 cents trading 236,269 stock units to close at $60.80. Jamaica Broilers rose 73 cents while trading 4,331 units to end at $31.33, Jamaica Producers climbed $2.49, in trading 1,024,941 shares to close at $25. JMMB Group jumped $5.06 end at a 52 weeks’ closing high of $39 in trading 5,078,196 shares, Kingston Properties rose $1 to end at $7, with an exchange of 100 stock units. Kingston Wharves dropped $2.99 trading 5,886 shares in closing at $65, NCB Financial Group added $1.10 with 64,092 shares changing hands to close at $147.60. Proven Investments  closed trading of 626,638 shares with a gain of 50 cents to end at $31.50,  Pulse Investments  fell 53 cents and settled at $2.45, trading 100,000 shares.  Sagicor Group  jumped $2.94 to end at $48.49 in trading 50,313 stock units,  Scotia Group  added 60 cent in trading 34,208 shares to close at $51. Seprod  rose 99 cent to close $45, with 27,825 shares changing hands and  Sygnus Investments  ended trading of 116,610 shares with a rise of 80 cents to end at $13.
Trading in the  US dollar  market ended with 721,125 units valued $188,394. JMMB Group 6% preference share rose by 3 cents and closed at US$1.05 with an exchange of 20,810 units, Proven Investments lost 0.05 cent and closed trading of 699,615 units at 22.5 US cents and Sygnus Investments ended trading of 700 shares at 10 US cents. The JSE USD Equities Index closed up 3.02 points at 182.31.

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