Wednesday, 19th June 2013 | The local market recovered some of the losses it suffered yesterday which flowed mainly from crosses that Mayberry did for a number of stocks. In today’s trading, National Commercial Bank traded 2.976 million units at a value of $61.1 million of which Mayberry crossed $2.8 million for in house purposes at a value for $57.5 million.
Advances positive | Trading elsewhere was moderate with just a total 4.19 million shares trading at a value of $71.6 million. The advance decline ratio moved back into the positive once more with 12 stocks advancing in price versus 7 that declined.
The all Jamaica index climbed by 343.29 points to close at 90,039.73, the market main index closed at 88,000.81 up 194.99 points and the junior market was down 6.89 points in closing at 746.83.
Main Market | Jamaica Producers gained $2.65 to close at $20.70 as just 2,000 of its shares traded. Grace traded 3,000 shares as the stock closed at $59 and was up $1.50. Barita Investments lost 50 cents to close at a 52 weeks low of $2.50 as just 4,000 shares traded.
Juniors down | Six stocks traded in the junior market with 3 increasing in price and 2 falling. Blue Power moved up 14 cents to close at $9 but the bulk of the stock changed hands at $10.15 and the bid was at $9.10 at the end of trading, which suggests more price gains ahead. This activity comes on the heels of the announcement of results, which showed a 121 percent jump in profits for the year ended April. Lasco Distributors closed down 75 cents at $13 as 58,306 of the company’s shares traded. Lasco Manufacturing gained 25 cents to close at $14 as 15,144 of its shares traded. Caribbean Producers lost 20 cents while trading 47,175 units to close at $2 but the offer price was at $1.75 at the close with 134,822 units on offer.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 6 stocks were higher, with 3 stocks that had offers lower than their last selling price. The Indicator points to more market gains ahead but gains could be moderate as the market awaits new information for it to continue the rally that started in April.
