Market highest since February 8th
The market is at the highest level based on the All Jamaica Index since February 8th this year, but it has some way to go before it takes out the 2013 high of January 4 when the all Jamaica index was at 91,721. Grace Kennedy put on $2.25 today, to close at $58 based on 6,185 units trading at $58, Desnoes and Geddes put on 33 cents to close at $4.50 after the company reported improved nine months results on Friday but with lower third quarter profits than the year before quarter due to costs relating to staff separation. The company traded 82,500 units, all at $4.50. Scotia Bank put on $1.96 to close at $21.98 while trading a mere 5.965 units.
The sentiments of the market can be gleaned from the advance decline ratio of stock price movements in today’s trade. Advancing stocks continued the trend of last week with advancing stocks outnumbering declining stocks on the Jamaica Stock Exchange. 7 stocks registered price advances and only 3 fell. The movement helped in moving the All Jamaican index up by 828.77 closing at 83,660.42. The main market index closed up 470.76 points to close at 84,479.12 on a day when 21 stocks traded. Stocks with a mere $9,004,591.79 value traded in market.
Stocks to watch this week | Grace Kennedy, Carreras, Jamaica Broilers, National Commercial Bank, Scotia Investments, Blue Power, Honey Bun, Jamaican Teas, General Accident.
