Tuesday, 20th August 2013 | The market closed off today as stocks of 28 companies traded with a volume of 3.69 million valued at $20.57 million. There were 8 stocks advancing and 10 declining as all the indices gained moderately except for the junior market. The cross listed had no trades.
The All Jamaica Index gained 533.18 points and closed at 85,994.08 and the JSE Market Index increased by 303.03 to close at 85,676.88 the Junior Market closed down by 15.33 closing at 794.11.
Main market | Cable & Wireless traded 401,991 units firm at 15 cents, Carreras had 50,460 units changing hands at $49.10 valued at $2.478 million, Caribbean Cement accounted for 75,913 as the stock traded as high as $2.50 before it closed at $2.22, up 12 cents, Desnoes & Geddes traded 386,000 units valued at $1.74 million and lost 2 cents to close at $4.50, Grace Kennedy traded 6,050 units lost 4 cents to close at $56.95, Jamaica Money Market Brokers saw 577,150 units changing hands valued at $4.9 million and closed at $8 down 10 cents for the day. National Commercial Bank 29,696 shares traded with a closing price of $18.51, down 5 cents. Pan Jamaican Investment Trust had just 7,539 units trading firm at $51.10. Sagicor Life Jamaica Limited 7,720 saw trading at $9, which is down 50 cents from Monday’s traded price but the offer at the end of trading was $8.45 for 26,000 units. Scotia Group had one of the largest trades in monetary terms as 299,551 units changed hands at a closing price of $21.01 to cost $6.37 million, the stock traded firm.
Junior market | Trading picked up in the junior market on Tuesday with the Lasco companies picking up in volume as profit taking in the shares appears to be ending while demand is returning for them. Consolidated Bakeries traded 354,230 units, the most since June 28 and closed at $41.41, up a cent. Blue Power traded up to $9.60 but closed at $9.21, up 3 cents in trading 36,100 units. The company posted improved quarterly results yesterday and investors seemed to have been responding positively to them. Cargo Handlers closed at $13, up 38 cents in trading 3,000 units, Dolphin Cove lost 80 cents in late trading to close at $8.20 with only 1,200 shares trading. Lasco Distributors closed at $1.46 in trading 574,199 units, Lasco Financial Services traded 376,901 firm at $1.52, Lasco Manufacturing closed at $1.59, down a cent in trading 379,616 units.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 1 stock was higher with 2 stocks having offers lower than their last selling price. This is the weakest this signal has been since we started tracking and suggests a ‘sideways market’ at this time.
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