Stocks jump to new records in trading on Tuesday with the All Jamaica Composite Index blasting pass resistance around the 243,000 level in decisive fashion. The market should have a comfortable rise to 265,000 points mark, the next area of resistance.
The market closed on Tuesday, as 51 securities changed hands in the overall market, ending with 27 stocks rising and 13 falling, including 11 stocks gaining and 7 declining, in the junior market while 9 securities ended at new 52 weeks’ closing highs.
The All Jamaica Composite Index jumped 5,829.59 points to close at record 248,767.35, the JSE Market Index climbed 5,212.68 points to finish at record close of 226,816.75 and the JSE combined index shot up by 5,336.51 points, to close at new closing high of 241,473.28. The movement of the main market, for the year to date, resulted to gains of 18.4 percent, for the all Jamaica Composite Index, with the JSE Market Index up 18 percent.
PanJam Investment jumped $3 in trading on Tuesday..
The average trade for the day in the main market ended at 176,182 shares compared to an average of 188,966 units on Friday. For the month to date, an average of 176,769 shares traded, versus an average of units 250,588 units up to the prior trading day. January ended with an average of 592,602 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 10 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Berger Paints gained 10 cents to close at $11.50 trading 131,209 shares, Cable and Wireless traded 3,845,588 units, adding 4 cents to close at $1.19, Caribbean Cement lost $1 to close at $32 with an exchange of 21,613 shares. Carreras traded 576,857 units, losing 45 cents and closed at $66.30, while 1834 Investments traded 125,543 shares, gaining 5 cents to close at $1.50, Grace Kennedy added 1 cent, closing at $40.65 with trades of 129,462 units. Jamaica Broilers gained 2 cents trading 597,464 shares to close at $15.50, Jamaica Producers traded 107,150 units, losing 50 cents to close at $18.50, Jamaica Stock Exchange closed at $8 for a gain of $1.79 with 1,600 shares changing hands, JMMB Group dropped 19 cents to close at $17.80 with 3,888 units traded.
Kingston Properties exchanged 1,500 shares at $10, Kingston Wharves closed at $34, gaining $1 with trades of 4,050 units, Mayberry Investments exchanged 20,400 shares with gains of 5 cents to close at $5.90, National Commercial Bank declined $2.70 in closing at $62.20, after swapping 22,435 shares. 138 Student Living traded 10,765 units at $4.50, Pan Jamaican gained $3 to close at $34 with 12,850 shares traded, Portland JSX closed at $10 after trading 500 units, Pulse Investments closed at $7.09 with 10,000 units changing hands. Radio Jamaica gained 20 cents, closing at $1.50 with 154,800 shares changing hands, Sagicor Group traded 20,442 units at $31, Sagicor Real Estate fund gained 3 cents and closed at $10.23 with an exchange of 907 units, Salada rose $1.25 in trading 20,000 shares at $9.25. Scotia Group ended trading with gains of $1.01 to close at $46, having traded 88,515 shares, Scotia Investments gained 43 cents, after trading 7,135 units and closed at a 52 weeks’ high of $35.50, Sterling added 5 cents to close at $15.65 with trades of 500 units. Supreme Ventures closed at $5.70, for a gain of 15 cents with 66,814 shares traded, JMMB 7.25 closed at $1.50, with 430 units exchanged and JMMB Group 7.5% preference share traded 2,650 units at $1.10.
