Monday, 29th July 2013 | Trades on the Jamaican stock market amounted to 4 million units with a value of $97.18 million of which Grace Kennedy accounted for more than 25 percent of the volume and $65 million of the total value of trading.
There were only 4 stocks advancing stocks while 13 declined as 25 companies participated in trading. All the indices with price movements lost value as the junior market lost the most with a 2.75 percent decline. The rest of the indices fell by less than a half of one percent.
Main market trades of note | The all Jamaica Index shed 359.38 points to close at 87,362.77 and the JSE market index fell by 204.26 to close at 86,482.76.
The Carreras sell off continues as investors sold another 362,919 units, down to $51.51 as the stock closed with the last traded price at $51.70 and the total value traded $18.73 million. Today’s trading seems to leave $51 exposed as the next price barrier. Thereafter it looks like $50 is next, but the demand at that price is not great. Other than Grace Kennedy which traded 1.16 million shares, others to post good volumes were Desnoes & Geddes, traded 284,557 units while closing at $4.77, Jamaica Broilers 121,465, trading at $5, Jamaica Money Market Brokers 129,000 between $8 and $8.10 and closing at $8.10, National Commercial Bank 59,326 as the stock closed at $19.50 down 6 cents, Scotia Group 195,392 and closed at $21.15 off by 5 cents.
The ordinary shares of Jamaica Stock Exchange is yet to trade since last week’s listing, the stock now has a bid at $3.25 and an offer at $3.45.
Junior market | Eppley shares that was the subject of an IPO last week was listed today, the fastest such listing since the junior market started. There were no trades nor buyers or sellers positioning to trade so far.
Nine stocks traded, with 6 declining and none gaining as the index fell 22.62 to 801.15. The three Lasco companies released results for the first quarter to June, with Lasco Distributors recording profit gains of 21 percent to reach $164.7 million. The stock traded a low volume of 174,127 units to close at $1.50, off just a cent. Lasco Financial recorded 50 percent gain in profit to reach $39.35 million. The stock traded 253,450 units and lost 8 cents to close at $1.52. Lasco Manufacturing reported profit decline of 10 percent in recording profit of $138.75 million. KLE Group lost a further 29 cents as the stock closed at $2 as only 1,000 units traded, a new low. General Accident traded 142,265 units at $1.93 and Caribbean Producers 56,768 units at $2.03.
Proven Investment Preference shares traded 411,400 units valued at $2.1 million, there was no trades of the ordinary shares which are quoted in US dollar.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 5 stocks were higher with 4 stocks having offers lower than their last selling price.
[…] of 24,917,651 valued at $310.7 million. There were 9 stocks advancing and 13 declining which is an improvement on Monday when only 4 stocks had price advances and 14 […]