NCB hits JSE main market hard

NCB Financial dropped $17 during trading to make big dent in the market indices.

NCB Financial dropped to $173 from $190 it closed at on Thursday but recovered to at $188 at the close. The fall in which the JSE records at $15.36 did major damage to the market indices on Friday.
Trading ended with the JSE All Jamaican Composite Index dived 10,577.64 points to close at 507,951.27 and the JSE Index dropped 9,612.29 points to close at 462,583.32. The big fall in the largest capitalized company on the stock exchange, cut 3 percent off the JSE Financial Index in closing at 122.14 points.
Market activity resulted in 41 securities trading in the main and US dollar markets and leading to 10 securities advancing, 15 declining and 9 trading firm. Market activity ended with 91,225,711 units valued $1,203,688,593 compared to 23,980,897 units valued $156,300,087 changing hands, from 32 securities on Thursday.
Wigton Windfarm led trading with 39 million shares for 43 percent of total main market volume, followed by Radio Jamaica with 26.5 million stock units for 29 percent of total volume, Sagicor Group with 12 million units for 13 percent of total volume. Sagicor Real Estate Fund ended trading with 9.6 million units and 11 percent of main market volume and next was NCB with 1.67 million shares.
The market closed with average of 2,400,677 units valued at $31,676,016 for each security traded. In contrast to 799,363 units for an average of $5,210,003 on Thursday. The average volume and value for the month to date amounts to 1,162,295 shares valued at $4,766,694 changing hands, compared 1,270,097 units valued at $4,635,018 for each securities traded. June closed with an average of 1,608,485 units valued at $19,605,318 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 4 with lower offers.
In the main market activity, Caribbean Cement gained $1.45 to end up trading 25,200 shares to close at $80, Grace Kennedy climbed $3 in trading 50,851 units to end at $67, Jamaica Broilers added $1 and closed at $34, with 15,131 shares changing hands, Jamaica Stock Exchange rose 30 cents after ending trading of 50,855 stock units at $29. JMMB Group shed $2 trading 163,627 shares to close at $48, Mayberry Jamaican Equities finished trading at $11.85, with 10,107 shares after climbing 55 cents, NCB Financial lost $2 in concluding trading of 1,670,020 shares at $188, PanJam Investment rose $1.50 to settle at $99 with 46,562 shares changing hands. Sagicor Group rose 69 cents and finished trading 12,067,394 stock units at $57.70, Scotia Group ended trading of 500,712 shares while climbing $1.98 to close at $57.48 and Supreme Ventures lost 50 cents to end at $27.50, with 68,369 shares trading.
Trading in the US securities market resulted in 48,857 units valued at over US$12,078 changing hands. Market activity ended with JMMB Group 6% USD preference share trading 5,576 units at US$1.04, Proven Investments trading 11,186 shares to close at 25 US cents and Sygnus Credit Investments with a loss of one cent to 11 US cents, in trading 32,095 units. The JSE USD Equities Index closed 2.02 points down to 186.29.

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