Friday, 6th September 2013 | Advancing stocks outpaced declining ones for the 4th day running, but volumes remain low even as supplies continue to dwindle for many of the more popular issues. The main indices climbed at the end of trading with the all Jamaica index up 434.93 to 84,970.58 and the main market index up 247.20 to 84,840.69. While the main market indices closed at the second highest levels for the week, the junior market index slipped marginally by 1.74 to 784.67. Investors traded 5.76 million units valued at $30.73 million on a day when 24 stocks traded, 9 stocks advanced to 4 that declined in price.
Post Carreras’ annual general meeting, which was held on Wednesday, buying came in for the stock as it traded 112,924 units valued at $5,262,988 and closed at $47 up $1.50; Caribbean Cement commenced the rebound on Friday with 571,692 units valued at $1,257,722 trading up by 17 cents to close at $2.20; Grace Kennedy did not trade much with 29,204 units valued at $1,645,283 as the price remained firm, at $57; Jamaica Money Market Brokers was the day’s big trade with 2,017,957 units valued at $17,116,815 as the price closed up 49 cents, to close at $8.50. Kingston Wharves added 66,755 to the total and closed firm at $7, the stock seems to be under some selling pressure. Mayberry Investments, 88,385 units resulted in a 5 cents gain as it closed at $2.65. National Commercial Bank continues the fight to move forward as there is a decent gap between buyers and sellers with just 27,255 changing hands to close at $18.55. Sagicor Life chipped in with 59,727 units as the price closed at $8.50 up 23 cents; Scotia Group Jamaica participated in the low volume that traded with just 19,859 units as the price closed at $21.50 for a gain of 24 cents while its sub, Scotia Investments, exchanged a mere 14,494 units but closed up $1.30 at $27.50. Proven Investments 8% accounted for 834,650 trading firm at $5.09 as $4.25 million was invested in it.
Junior Market | The market had good participation from 7 stocks as 8 stocks traded on the final trading day of the week. Caribbean Cream exchanged 343,901 units as the price closed firm at $1.02; Caribbean Producers, fresh from recent full year results which showed a big jump in the last quarter’s earnings is gaining some traction resulting in 214,000 units trading with the price moving up 8 cents to $2.11 at the close; Consolidated Bakeries chipped in with 16,360 units to close firm at $1.40; General Accident 160,632 units resulted in a 2 cents fall in price at the end of trading to $1.75; Lasco Distributors 44,960 units traded but closed at $1.50 off by 10 cents while Lasco Financial Services had a busy day with 1,009,433 units trading as the price gave up 5 cents at the close $1.30 at the end. Lasco Manufacturing 69,386 units as the price gained 5 cents at $1.60 at the end.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator has weakened somewhat and shows that bids for 5 stocks were higher with 4 stocks having offers lower than their last selling price.
