Tuesday, 1st October, 2013 | The Jamaica Stock Market started October in a spirited manner when the level of trading rose on Tuesday with 10,321,856 units trading valued at $95,698,771. Activity resulted in 32 companies stocks trading, with 9 stocks increasing in price to 5 that fell. The main market index climbed 550.14 to 85,050.34, the all Jamaica grew 967.97 to 85,339.46 and the junior market index was up 5.21 to 774.04.
The movement in the market on Tuesday is in line with the IC Insider comments that “eight of the stocks with higher bids are in the main market and could well result in a better start of the new month . . .”
Main market | A numbers of selected stocks in the main market had good volumes resulting in some price movements but that could well be related to portfolio realignment than an indication of greater market interest. Cable & Wireless had a volume of 20,644 units as the price remained unchanged at 18 cents; Caribbean Cement exchanged 17,741 units at $2.10, gaining 23 cents in the process; Desnoes & Geddes chipped in with 15,000 units and closed frim at $4.57; Jamaica Producers had a good volume with 2,000,000 closing firm at $18.25; National Commercial Bank Jamaica 1,101,900 traded firm at $19; Sagicor Life’s 2,547,861 units helped to push the price up by 41 cents to $9.01; Salada Foods put in 100,560 shares to close firm at $8.50; Seprod’s 509,552 units help push the price up a dollar to $14.50; Jamaica Money Market Brokers 7.50% traded for the first time since listing last week as 499,000 units traded at $2; Proven Investments 8% exchanged 78,440 units as the price remained unchanged at $5.09 and Proven Investments ordinary stock traded 51,560 units firm at US11.9 cents.
Junior market | C2W Music traded at a new all-time low with 44,000 units changing hands as the price was down 4 cents to 93 cents. Caribbean Cream traded 22,776 units firm at $1; Caribbean Producers Jamaica 61,100 units closed unchanged at $2.08; Consolidated Bakeries saw an 18 cents climb in the price $1.39 with 35,200 shares trading; General Accident Insurance had 32,000 units going through the market as the price increased 3 cents to $1.85; Lasco Distributors 294,845 units helped to move the price down by 4 cents to $1.46; Lasco Financial Services 1,488,652 traded at $1.21, off by 2 cents; while Lasco Manufacturing 1,115,311 units gained it 4 cents to close at $1.55; Paramount Trading had 16,324 units with the price closing firm at $3.20.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market consolidating with bids for 5 stocks being higher and 6 stocks with offers lower than their last selling price.
