JSE trading set to explode on Wednesday?

Wigton posted a big jump in profit and should light a fire under the JSE.

The Jamaica Stock Exchange seems set to enjoy a big blast on Wednesday following the release of strong results by a number of companies after the market closed on Tuesday, with modest gains in the market indices.
At the close of trading, the JSE All Jamaican Composite Index added 254.37 points to close at 580,099.61, the JSE Index rose 231.16 points to 528,146.93 and the JSE Financial Index lost 0.31 points to end at 144.36.
Trading ended with more stocks rising than falling with 42 securities trading in the main and US dollar markets, leading to 19 securities advancing, 14 declining and 9 closing with no price change, compared to 37 securities trading on Tuesday.
At the close of trading, Palace Amusement traded at a record high of $1,950 but JMMB Group 7.5% preference shares traded at a 52 weeks’ low of 75 cents but recovered slightly by the close.

PanJam is another main market stock to post a big jump in profits.

Shares totaling 105,567,277 units valued $1,138,000,566 traded, compared to 65,134,390 units valued at $273,353,099 changing hands on Monday.  Sagicor Select Fund led trading with 57.2 million units for 54 percent of total volume, Wigton Windfarm followed with 22.3 million shares accounting for 21 percent of the day’s trade, Supreme ventures with 10 million shares for 9.5 percent of total main market volume. Other stocks trading over one million shares are, Ciboney, Mayberry Investments, NCB Financial, Radio Jamaica, Sagicor Group and Scotia Group.
The market closed with an average of 2,706,853 units valued at $29,179,502 for each security traded. In contrast to 1,915,717 units valued at an average of $8,039,797 on Monday. The average volume and value for the month to date amounts to 1,155,033 units valued at $11,164,308 and previously, 901,009 units valued at $7,834.486. July closed with an average of 1,297,718 shares at $17,985,644 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ending with bids higher than their last selling prices and 3 with lower offers.
In the main market activity, Barita Investments lost 98 cents to end at $89 with 24,197 shares changing hands, Caribbean Cement ended with a loss of $2 at $77 with 20,957 stock units changing hands, Carreras shed 74 cents to end at $8 with 781,375 stock units trading, Grace Kennedy climbed $2.50 in trading of  823,511 units at $72. Jamaica Broilers exchanged 81,295 shares but dropped $1 to close at $34, Jamaica Producers lost 35 cents trading 28,686 shares to end at $$26.65, Jamaica Stock Exchange jumped $4.19 trading 68,286 shares to end at $29.94, Kingston Properties lost $1 in closing at $7 after exchanging 18,485 shares. Kingston Wharves gained $2.16 while trading 12,263 shares to end at $68, Mayberry Jamaica Equities rose $1.10 in closing at $12.10 with 812 shares changing hands, NCB Financial lost $2 in exchanging 1,553,334 units to close $218. Palace Amusement traded just 100 shares and jumped $450 to close at a record high of $1,950, PanJam Investment added $1 in trading of 379,101 units at $101, Portland JSX recovered the 35 cents lost on Monday in exchanging 29,385 shares at $7.90, Proven Investments closed trading of 37,487 units and gained $3 to end at $40. Scotia Group dropped $2.60 to close at $54 in trading of 1,556,853 units, Seprod dipped $1 in trading 17,941 shares to end at $55, Sygnus Credit Investments lost 40 cents in trading 650,915 shares to end at $23.55 and Wisynco Group jumped $4.08 to $24 after exchanging 279,826 units.
Trading in the US securities market resulted in 36,715 units valued $5,737 changing hands. Margaritaville traded with 8,925 shares to settle at 25 US cents, Proven Investments gained 2 cents and closed at 26 US cents with an exchange of 240 shares and Sygnus Credit Investments traded 27,550 shares at 12.5 US cents. The JSE USD Equities Index advanced 6.09 points to close at 192.65.

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