Wednesday, 24th July 2013 | Scotia Investments did some big trades on Wednesday in Carreras Limited as the brokerage house executed three large trades in the stock on behalf of clients. The first lot of 3,907,474 at $52.25 valued at $204,165,517, the second lot of 3,792,847 also at $52.25 valued at $198,176,256 and 2,347,297 units at $52.25 with a value of $122,646,268.
The stock lost 26 cents in trading. The Carreras’ trades were by far the largest on a day when 18.85 million units traded with a value of $613.65 million on the market. In spite of the negative news about the smoking ban and its impact on the company’s profits, there are still bids buy the stock at close to today’s selling price and about 350,000 units have bids from $51 and above. The total trading in Carreras shares amounted to 10.159 million units at a value of $520.8 million.
Advancing stocks climbed to 14 versus 6 that declined, 11 had no price change at the end of the day. In spite of the positive advance decline ratio the indices all declined except the US dollar index which rose marginally.
Main Market | The all Jamaica Index fell 101 points to close at 88,054 and the main market index fell 57.40 points to close at 86,875.75.
Scotia Investments was also the dominant broker in the trading of National Commercial Bank stock as $23.7 million was expended on the trading of 1.2 million shares as the stock closed at $19.50. They were also the major traders in Scotia Group which had trading in 890,000 shares valued at $19 million as the stock closed at $21.50 and gained 30 cents for the day. Jamaica Broilers had a big day, posting a volume of 3.57 million units at a value of $17.8 million as Scotia Investments played a big role in trading the stock. Jamaica Producers traded 158,600 units and closed at $19.20 up 19 cents. Pan Jam gained 50 cents on small volume to close at $52. Sagicor Investments gained $1.97 and closed at $18.50 as 5,000 shares traded, Scotia Investments gained 49 cents in continuation of the see sawing between $26 were there is demand ad $26.50, as 33,947 shares changed hands. Hardware and Lumber stock responded to the improved results released yesterday. In today’s trading the stock closed at $4 with 5,000 units trading but bids have now come in where there were none before for days.
Jamaica Stock Exchange ordinary shares have still not traded after two days of listing but there is a bid of $3 posted for just over 97,000 units which is above the issue price of $2.85.
Proven Investment ordinary shares which are quoted in US dollars traded 1.2 million units valued at US$140,640, the stock lost a fraction of a cent to close at 11.72 US cents.
Junior market | 11 stocks in the junior market traded with Lasco financial reaching a new all-time high at $1.50, the closing price as 203,000 units traded. At the end of December last year, the stock was trading at $4.90 or 49 cents based on the stock split hence the price has gained more than 200 percent in the process. Lasco Distributors traded 205,600 units to close at $1.42 but traded as high as $1.53 on the day, Lasco Manufacturing chipped in with 243,899 units to close at $1.69 down from $1.80 on Tuesday. Mayberry bought out the 100,000 Blue Power stocks that were on offer at $10.50 for in house purposes, the stock is up 47 cents on the day, leaving only two small offers at $11 and $13.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 6 stocks were higher with 2 stocks having offers lower than their last selling price.
