Summary for the week ending 26 April, 2013 | There was trading in 24 stocks of which 16 advanced, 7 declined with the rest remaining firm.
The Jamaican stock market continues to record low levels of interest which is reflected in moderate trading activity during the week ending 26 Apr, 2013. Price movements were small although advancing stock out-numbered declining ones by more than 2 to 1. Only 11,641,413 units traded valued at $132,288,544.
On Friday, JMMB traded 6.39 million units valued at $43.6 million while 467,487 Carreras shares valued at $25.6 million traded and Grace Kennedy traded 312,537 units valued at $17 million on the 24th, which accounted for the large part of trading activity for the week.
Market Indices | The JSE market indices hardly moved at the end of the week, with the All Jamaica index inching up 306 points being the highest movement. Caribbean Creams IPO, which opened to the public on Thursday, may have diverted funds and attention of investors away from the market while they focused on the new offering.
An increasingly noticeable feature of the market is the scarcity of junior market stocks and widening bids and offers, an indication that prices could be rising sharply for a number of these stocks in the coming weeks, especially as they will all be issuing results within a few weeks.
Slightly Bullish | An indication of a slightly bullish tone is that investors are prepared to pay more for some stocks than the last selling prices. The stocks which fall into this category show bids at the close of trade that are above the last selling prices. These include AMG Packaging bid $3.81, last price $3.80, Blue Power, bid $5.56, last traded price, $5.50, D&G, bid $4.10, last price, $4.05. Hardware & Lumber $3.81, last price $3.80, Jamaica Producers, bid $15.14 last price $15.08, Lasco Manufacturers $11.25 versus $10.80, Sagicor Investments $15.55 versus $15, Scotia Investments $23.10, last price $23.
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