Monday, 9th September 2013 | The stock market recorded positive moves in the three main indices on the first trading day of the week as Pan Caribbean Financial Services crossed 1,794,816 valued at $38,947,507 and 205,184 units valued at $4.45 million of Scotia Group Jamaica at $21.70 each in early trading. In the end, Scotia Group Jamaica traded 2,085,241 valued at $42.23 million, the price closed at $21.30 off 19 cents in a very slow day’s trading.
The Main Market Index closed at 85,010.18 up 169.49, the All Jamaica Index ended at 85,268.80 for an increase of 298.22 and the Junior Market Index seems to be closing in the 800 points level once more with a rise of 6.91 to end at 791.58. The market closed as 22 stocks traded with 3,350,127 units changing hands at a value of $50.4 million.
Jamaica Broilers gained 10 cents to $5.10 but with only 5,000 units, eyes will be out for this stock on Wednesday as the company is expected to release results for the first quarter of the new fiscal year on Tuesday. Based on the last quarter of the 2013 fiscal year when profits jumped by 114 percent, expectations are that this latest quarter to July should be up strongly primarily based on results from the ethanol operations.
Jamaica Money Market Brokers traded 332,375 units valued at $2.8 million as the price closed firm at $8.50 and Sagicor Life saw only 38,550 shares trading $8.51 for a 1 cent gain. Pan Jam Investments Trust lost 22 cents in a continued sea saw of price movements over several days. Scotia Investments which is back up at over J$32 in Trinidad today, lost 50 cents on the JSE to close at $27 but only 1,000 units traded.
Junior Market | The Junior Market seems to be holding out for a while as investors sense when the market will start to factor in the next set of interim results and starting buying ahead of the release of the results staring in late October. In today’s trading, Access Financial Services 99,250 units traded firm at $8.38; Blue Power Group 14,918 units closed at $9.4 an 11 cents increase; Caribbean Producers 58548 units closed at $2.10; Consolidated Bakeries 21,030 units traded firm at $1.40; Lasco Distributors 147,971 units closed at $1.49, down a cent; Lasco Financial Services 14,450 units closed at $1.40 up 10 cents and Lasco Manufacturing 83,288 units at $1.65 a 5 cents increase.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator has strengthened on Monday compared to Friday with bids for 10 stocks being higher with 5 stocks having offers lower than their last selling price.
