Monday, 3rd June 2013 | JMMB traded 4.57 million shares, all of which were bought by Scotia Investments for their own account and for clients except for 4,300 units bought by JMMB but sold from in-house for a client. Of the total amount of JMMB shares that traded, 2.7 million units traded at $9.50 each. The rest of the trades took place mostly at $9 per share. The stock traded up 50 cents for the day.
The All Jamaica Composite index closed up a strong 1,544.25 points to close 89,987.54 on day that saw 7.36 million units trading. The index closed at the highest level since January 8th this year when it closed at 89,699.10.
Stocks Gains | Jamaica Broilers traded up to $5 with 1.5 million shares changing hands. Kingston Wharves closed at 52 weeks high of $8, up 40 cents, while trading 10,000 shares on the day. Carreras and Grace Kennedy continued to be in demand, with the former trading 128,110 shares valued at $7.73 million while loosing 45 cents in closing at $60.45 and Grace trading 122,331 units valued at $7.35 million without a price change.
Junior market | The junior market was active with AMG Packaging trading 276,077 units in one trade with the stock closing up 10 cents at $4.15. Paramount traded 163,597 units while closing at an all time high of $3.60 up 20 cents. The stock closed with a bid of 559,806 units at $3.50 with no stock on offer which suggests that it will trade higher before long. Access Finance closed down 41 cents to $7.59 on very low volume, Blue Power traded up 71 cents to close at $7.52, an all time high, as 100,200 shares traded. All three Lasco companies traded but not heavily. Manufacturing closed at $15.35 off 4 cents from Friday’s close, Distributors fell slightly, by 10 cents and Financial Services gained 20 cents on Friday’s last traded price.
Advancing stocks greater | There was trading in 23 stocks on a day that was not all that active. The momentum of the market continues with advancing stocks continuing to be most dominant over declining ones 14 to 5. Four stocks traded at 52 weeks high including Proven ordinary which traded up 0.5 US cents to close at 11.5 US cents.
An indication of things to come can be seen from the bid and offers in relation to the last selling prices. At the end of trading there were 7 stocks with bids higher and only 1 stock with offer that is lower than the last sale price.
- The main Market Index advanced by 877.17 points (1.00%) to close at 88,455.09.
- The Select Index advanced by 48.71 points (2.00%) to close at 2,483.29.
- The All Jamaican Composite was up by 1,544.25 points (1.75%) to 89,987.54.
- The Junior Market Index advanced by 7.96 points (1.05%) to close at 767.89.
- The Combined Index advanced by 900.62 points (1.00%) to close at 90,624.63.
- The US Equities Index advanced by 3.57 points (4.54%) to close at 82.14.
