JSE hits new record then drops

Bulls prowling around Jamaican stocks.

The Jamaica Stock Exchange main market climbed to another record high on Thursday but pulled back towards the close, as the price of Scotia Group traded down to $56 and Grace Kennedy falling at the close.
The All Jamaica Composite Index peaked with gain of 3,093.31 points to a record 411,545.91. At the end of trading, All Jamaica Composite Index declined by 1,232.84 points to close at 407,219.76 and the JSE Index dipped 1,123.25 points to 371,023.29.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 11 stocks ending with bids higher than the last selling prices and 3 closing with lower offers, suggesting mostly gains ahead for stocks.
A total of 29 securities traded including 1 in the US dollar market, compared to 32 trading on Wednesday with the prices of 15 securities rising, 8 declining and 6 holding firm. There were 6 securities trading at 52 weeks’ highs during the day, with 3 ending at a 52 weeks’ closing highs.
The main market ended with 50,485,890 units valued at $464,344,297 compared to 2,630,637 units valued at over $70,273,331 changing hands on Wednesday.
Trading closed with Carreras trading 46,297,844 shares and 91.7 percent of the day’s volume with the price closing at $9.11 after falling 24 cents. JMMB Group accounted for 1,650,000 shares or 3.3 percent of the day’s volume, followed by Ciboney Group with 760,000 shares and 1.5 percent of the volume traded.
Trading resulted in an average of 1,803,068 units valued at over $16,583,725, in contrast to 132,745 shares valued at $3,474,891 on Wednesday. The average volume and value for the month to date amounts to 533,195 shares, valued $6,208,222 and previously, 114,884 shares valued $2,790,409. September closed, with an average of 1,022,243 shares valued $15,752,876, for each security traded.
In the main market activity, Grace Kennedy fell $2 in trading 73,275 shares, to close at $61, after the price hit a record $75 in early trading, Jamaica Broilers dropped $3 in trading 406,744 stock units at $28, JMMB Group climbed $2 and ended at a 52 weeks’ high of $35, trading 50,818 shares, Mayberry Equities rose 41 cents to finish at closing high of $12.01, trading 55,088 stock units, NCB Financial Group rose $2.50 ended trading with 19,709 shares at record close of $132.50, Portland JSX ended at $8.50, with 55,000 units trading after falling 50 cents, Sagicor Group rose 78 cents to end at $40, with 4,149 shares changing hands, Sagicor Real Estate Fund rose 41 cents to $13.50, trading 122,940 shares, Scotia Group added $1 in trading 48,191 units to close at $62 after it fell to $56 in earlier trading, Seprod jumped $3.56 in trading 32,849 shares at $46.80, Sterling Investments declined by $1.99 and closed at $22.01, with 38,149 shares changing hands after trading at an all-time intraday high of $28 and Supreme Ventures rose 70 cents in trading 202,949 shares to end at $21.70 and Wisynco Group lost 25 cents to finish at $9.30, with 246,788 units trading.
Trading in the US dollar market closed Proven Investments being the sole trade with 134,200 shares to close at 23 US cents. The JSE USD Equities Index closed unchanged at 174.64.

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