Thursday, 13th June 2013 | Mayberry bought 2,475 million shares of Jamaica Money Market Brokers (JMMB) for clients and Scotia Investment bought 1 million units for in house purposes today as 3.7 million units of JMMB changed hands valuing $31.8 million. The selling broker was JMMB mostly on behalf of clients. Carreras recorded a big trade worth $11.58 million as the stock traded 199,246 units and closed down at $59. NCB jumped to $22 at the close, up $2.50 with 242,000 shares trading at a value of $5.18 million. Grace Kennedy fell $0.75 to close at $58.25.
Index Climbs | The all Jamaica Index closed up 1,277.32 points and ended at 91,209.76 points, this means that the market is at its highest since the first week of January this year and has recovered all of the negative impact that the NDX did to the market index in February. The main market index closed up 725.54 points and closed at 88,639.94.
The Investor’s Choice bid-offer market sentiment indicator, points to more market gains ahead and this is backed up by technical indicators which suggest that the main market seems to be on track heading to 103,000 on the all Jamaica Index. The market seems to have broken out decisively from the 85,000 level. The 103,000 mark is the next major point of resistance followed thereafter by 115,000.
Juniors Down| Buy before results and sell after has been a pattern of the junior market from inception and it seems to be following that role again as prices of some stocks seem to have stalled or fallen back a bit as some profit taking takes place. The Junior Market index fell nearly 17 points to close at 732.81.
In today’s trading NCB, which climbed $2.50, would have had a telling impact on the index movement. However, this impact was tempered by a fall in Scotia Investments, off $1.
Advances positive | The advance decline ratio remains positive with 14 stocks advancing and 7 declining, on a day when 8 million shares changed hands with a value of $55 million. At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 11 stocks were higher with 4 stocks having offers that were lower than their last selling price.
