JSE main market bullish on Wednesday

JSE main market bullish

The Jamaica Stock Exchange main market indices inched higher at the close on Wednesday, but that disguises the sharp difference between advancing and declining stocks with 5 to 2 advantage.
The market ended, with 35 securities trading in the main and US dollar markets, leading to 20 advancing, 8 declining and 7 trading firm, compared to 36 securities trading on Tuesday.
The All Jamaican Composite Index rallied 199.54 points to 570,190.27, the JSE Index gained 45.67 points to close at 519,142.25 and the JSE Financial Index rose 0.52 points to end at 140.40.
Mayberry Jamaican Equities dominated market activity, leading to 68,265,038 shares valued at $682,669,316 changing hands, in contrast to 30,838,644 units valued at over $177,452,451 crossing the main market on Tuesday.
Mayberry Jamaican Equities traded 40.26 million shares and 60 percent of total volume, Wigton Windfarm followed with 16 million units accounting for 23.4 percent of the day’s trade and Sagicor Select Fund with 8.14 units for 12 percent of the main market’s volume.
Trading closed with an average of 2,007,795 units valued at $20,078,509 for each security traded, in contrast to 907,019 units valued at an average of $5,219,190 for each security traded on Tuesday. The average volume and value for the month to date amounts to 1,117,901 shares valued at $9,281,638 for every security traded, compared to 691,754 units valued at $4,111,306 for each security traded. The market closed out August with an average of 1,743,431 units valued at $9,907,963 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 12 stocks ending with bids higher than their last selling prices and just one with a lower offer.
In the main market activity, Barita Investments climbed $3 to end at $73 with 108,612 stock units trading, Berger Paints gained $1 to settle at $20 after 119,046 shares changed hands, Carreras traded 44,195 shares and rose 35 cents to end at $8.80, Caribbean Cement climbed $3.50 to settle at $83.50 with 12,630 shares changing hands. Jamaica Broilers lost 50 cents trading 5,280 units in closing at $35.50, Jamaica Stock Exchange dropped $4.80 trading of 379,011 units to close at $23, Kingston Wharves ended trading with 2,160 shares, after rising 80 cents to end at $67.80, NCB Financial jumped $7 to end at $210, in trading 14,748 shares.  PanJam Investment gained $1 to end at $101, in exchanging 11,401 shares, Portland JSX added $1 to end at $9 after trading 7,900 shares, Proven Investments climbed 40 cents and exchanged 110 shares at $37, Sagicor Group rose $1.60 to sit at $70.10 after the swapping of 960,753 shares. Salada Foods gained $1.50 to end at $32.50 trading 915 units, Seprod added $1.80 to end at $57.80 with 16,407 stock units changing hands and Scotia Group fell $2 in trading of 44,363 shares to close at $55.50.
Trading in the US securities market resulted in 12,000 units valued US$3,120 changing hands with Proven Investments being the only security trading to close at 26 US cents. The JSE USD Equities Index remained unchanged at 194.45.

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