NCB pushes up Jamaican stocks

A sharp jump in the price of National Commercial Bank NCB) pushed the Jamaica Stock Exchange market indices to new record levels with the stock changing hands at $55 in early trading, pushing market up by 5,266.74 points on the all Jamaica composite Index which rose to 196,721.20 points just before 9:45 AM and the JSE market Index up by 4,709.42 to 176,945.54.
The main indices fell back with the NCB price pulling back to $53 with a $4 rise. Market activity resulted in 8 stocks falling while the prices of 14 $4 gain securities rose. The leading volume trades in the market are, Cable & Wireless traded 102,358 shares at 78 cents, JMMB Group had 111,345 shares changing hands at $13.99, Proven Investments had 72,952 units trading at 19.50 US cents, In the junior market Caribbean Cream fell to $7 while trading 100,000 units.
AMG Packaging climbed $1.01 with 25,000 units trading at $20.10 and Caribbean Cement dropped $1.35 to $29.
At 10:45 am the all Jamaica Composite Index jumped 2,238.35 points to 193,692.81, the Jamaica Stock Exchange Market Index climbed 1,405.58 points to 174,237.61, the Jamaica Stock Exchange combined index surged 1,879.69 points to close at 187,001.62 and the junior market index rose 2.29 points to a new high of 2,474.03.
A total of 28 securities traded of which 9 advanced and 11 fell and resulting in a volume of just 753,463 shares changing hands carrying a value of $6,280,546. The average number of shares traded amount to a low of 26,909 units.