JSE: Junior market hits record high

Tuesday, 2nd July 2013 | The junior market that has been on a bull run from April closed today at a new all-time high of 812.02 as the index surpassed the previous all-time high of 811 points that was established on November 9, 2011. This market has gained 25 percent this year rising from 647.78 points as the three Lasco companies posted almost daily new highs since they announced a 10 for 1 stock split and released full year results at the start of June.

The main market broke its losing streak with a rise in the main indices with the all Jamaican Index gaining 951.70 points to close at 88,893.96 ad the Jamaica Stock Exchange index closing at 87,337.26, up 540.59 on the day.

Although all of the indices with stocks trading rose today, the advance decline ratio was just able to remain positive as 9 stocks gained to 6 that declined as trading levels declined sharply from Monday. Trading took place with 2.43 million shares as investors expended only $15.4 million, well down on Monday’s trading. Only one stock, Lasco Distributors, closed with the last traded price reaching an all-time record at the close.

stockmarketblue150x150Main Market | Carreras shares hit $56.04 by gaining $3.04 as just 4,430 units valued at $240,815 traded, Grace closed up 35 cents to  end the day at $60.35, a mere 1,240 units shifted hands, Sagicor Life traded 563,672 units valued at $5 million as the price moved up 63 cents to close at $9. Scotia Group traded 147,000 units, valued at $3.1 million and gained one cent in the process. Scotia Investment lost $1.40 in closing at $26.10 with 10,100 shares.

Like Monday, the supply of Cable & Wireless on offer at 15 cents fell a bit more to 29.4 million shares with 557,000 units trading at 14 cents. The bid to buy 4.79 million RJR shares still stands at $1.23 with no supply at hand.

Junior market | Seven junior market stocks traded with Lasco Financial at $12.10, down 60 cents, with 170,000 shares trading between $12.10 and $13. Lasco Manufacturing traded 5,000 shares with the price closing at $16. Lasco Distributors, closed at $18 but only 3,200 units traded between $16.50 and $18. General Accident traded 399,554 shares and the price closed at $2 and Caribbean Producers closed at $2.02 in trading 240,606 units. Blue Power closed at $10.40, down 60 cents, with 37,283 units but there were offers amounting to 332,000 units at $10.40 to $10.50 at the end of trading.

The junior market is in a golden cross as the 50-day and 120-day moving averages trend-lines have crossed over the 200-day moving average. This is a strong market signal for a major move in the months ahead.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 5 stocks were higher with 3 stocks having offers lower than their last selling price.

JSEIndicesJul2

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  1. […] 3rd July 2013 | The junior market hit another all-time high of  815.36, up 3.34 points from yesterday’s all time high of 812.02 with Lasco Financial Services and Lasco Manufacturing posting gains on the […]

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