Thursday, 21st November 2015 | At the end of trading on the Jamaica Stock Exchange on Wednesday there were bids for 10 stocks that were higher than their last selling price and only 2 stocks with offers lower than their last selling price, an indication that prices are most likely to reverse the decline seen for a number of days. This is one of the strongest positive indicators for some time.
In today’s trading, the market did just that with 15 stocks recording price gains to only 3 that fell but the measure of overall market performance the index just moved up marginally. At the end of trading things seemed to have cooled a bit as seen by the narrowing of the bid offer numbers in our Market Sentiment Indicator. The JSE Market Index closing at 77,086.98 up 85.92; JSE All Jamaican Composite closed at 75,823.39 up 149.37 and JSE Junior Market Index closed at 718.78 up 13.55. Trading was for 1,517,875 units valued at $12.4 million.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 6 stocks higher and 3 stocks with offers lower than their last selling price, another strong indicator of a possible turnaround in the offing.
Main Market stocks | In main market trading, Berger Paints traded 30,000 and was down 20 cents to $1.80; Caribbean Cement stock price gained 20 cents to close at $2.20 with 33,823 changing hands; Carreras gained 63 cents to $35.70 as 26,772 units traded; Gleaner had 400,000 units changing hands unchanged at $1.11; Grace Kennedy traded 97,241 units to close at $56, down 51 cents; Hardware & Lumber exchanged 20,600 as the price fell 36 cents to $4.20; Jamaica Broilers Group saw 14,500 of its shares changing hands to close at $4.24, up by 5 cents; Jamaica Money Market Brokers traded 236,931 units to close at $8.10 $7.86 up by 24 cents; National Commercial Bank had another day of low trading with only 7,655 units as the price closed at $17.80, up 30 cents; Scotia Group exchanged 34,520 units to close at $17.50, up 50 cents and Scotia Investments had 11,000 shares trading at $27.99 for a gain of $1.98.
Proven Investments traded 101,250 to close firm at 12 US cents.
Junior Market | Trading picked up in the junior market with 9 companies involved in trading with Access Financial Services trading 23,000 shares to close up $1.22 at $9.50, a 52 weeks high; Caribbean Producers exchanged 163,909 units at $1.94 regaining the cent it lost in Wednesday’s trading; Caribbean Flavours & Fragrances had just 11,936 units trading firm at $2.60 and Lasco Manufacturing traded 275,998 units and closed up 15 cents to $1.40.
