Friday, 1st November 2013 | The IC Bid-Offer Indicator at the end of trading for the week and the first trading day for November is the strongest it has been for weeks with bids for 10 stocks higher that their last selling prices and only 1 stock on offer lower than the last selling price — a bullish indicator.
It would require more than a day with similar positive readings to confirm a sustained uptick in stock prices. What is clearly being indicated is that supply of stocks at the lower price levels is low.
The Jamaica Stock Market closed the week on a positive note even as the junior market index fell in trading today. The main indices moved up at the end of the day as 11 stocks advanced to decline of 5. The JSE Index closed at 82,190.30 up 358.14. The all Jamaica Index closed at 80,307.25 up 630.16 and the junior market index closed down 6.29 to end at 726.30. In overall market activity 4.2 million shares changed hands for a value of $25.66 million.
Stocks with meaningful activity are Caribbean Cement 49,749 units as the price closed at $2.19 up 12 cents; Carreras had 13,000 units traded up 5 cents to $40; Hardware & Lumber 11,600 as the price closed up 20 cents at $4.70; Jamaica Money Market Brokers had 10,650 units as the price closed at $8.12; National Commercial Bank Jamaica 74,867units closing up $1.49 at $18.49; Pan Jamaican Investment 11,800 unit traded firm to close at $48.01; Sagicor Investments 440,715 units closed at $15.99 while gaining 33 cents; Scotia Group 376,900 shares resulted in the stock closing firm at $20; Scotia Investments 2,000 up $2.48 to $28.5 and Proven Investments 8% was the only stock to trade in the preference segment as it resulted in 332,660 units at $5.09. JPS 9.5% non-redeemable preference shares were listed at the start of trading but did not trade nor was there a bid or offer at the close.
Junior market | Trading picked up in the junior market with Blue Power Group exchanging 75,100 units mostly at the closing price of $9.28; Caribbean Cream put in 18,000 units at $1.02 up 2 cents; Caribbean Flavours 35,387 units at $2.55; Caribbean Producers 860,000 units traded mostly at the closing price of $2 up 5 cents at the close; Dolphin Cove had 199,252 units changing hands at $8.25 as the stock gained 25 cents; General Accident Insurance had 31,830 units being exchanged ending at $1.65, up 3 cents; KLE Group traded 44000 units and hit another new all-time low of $1.37, down 3 cents while under pressure; Lasco Financial Services chipped in with 104,899 units at $1 down 12 cents and Lasco Manufacturing garnered 1,502,008 units to close at $1.45, up 4 cents.
