NCB rescues JSE on Tuesday

NCB stock traded at a high of J$40 on the JSE on Tuesday.

NCB stock traded at a high of J$40 on the JSE on Tuesday.

With news that National Commercial Bank will be buying 30 percent of Guardian Holdings shares, the stock traded higher the moment the market opened and ended up as high as $40 for an intraday high. The move in NCB’s price, helped the Jamaica Stock Exchange main market to eke out gains, even as the declining stocks were more than those advancing.
The market closed with a volume of 9,838,406 units valued at $181,361,434 changing hands, in all market segments. National Commercial Bank accounted for 3,818,003 units carrying a value of $140,419,998. Activity took place in 40 securities, leading to 11 rising and 20 declining with 2 stocks ending at 52 weeks’ closing high but with none from the main market but there were trading at 52 weeks intraday high.
The JSE Market Index gained 305.74 points to 140,479.71, the all Jamaica Composite Index rose 341.68 points to end at 155,950.29 and the JSE combined index increased by 120.88 points to end at 147,096.81.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and 2 with lower offers.
JSE Sum -12-15In trading, Barita Investments had 18,700 units trading at $3.81 for a loss of 24 cents, Cable and Wireless closed with 1,235,040 units changing hands at $1.54 after the price fell by 1 cent, Caribbean Cement traded at an intraday 52 weeks’ high of $20 but settled back at $19.10 having gained 10 cent, with 40,662 shares changing hands. It closed with a bid at $19.10 to buy 508 units and at $19 are 22,900 units, on offer are 150,000 shares at $20.44, Carreras rose 90 cents to close at $56 with 30,898 units trading. Ciboney did not trade but closed with the bid at 23 cents to buy with 38,830 shares. Desnoes & Geddes ended with 11,850 shares trading at $30, Jamaica Broilers lost 20 cents in trading 1,375,039 shares, to close at $8.50, Jamaica Stock Exchange traded 14,635 units to end at $13.45, JMMB Group fell 8 cents while trading 303,051 shares, to close at $10.01. Kingston Wharves traded 83,754 units and rose 17 cents to end at $11.47, Mayberry Investments ended with 10,600 shares changing hands at $4.70, after falling 15 cents, National Commercial Bank closed with a gain of 59 cents to end at $36.34. JSE Fn Qts 1-12-15138 Student Living ended with 1,108,650 shares but lost 35 cents to $4, Pulse Investments had 250,658 units trading at the close at $at $2 after it traded earlier at $2.45, Sagicor Group fell 54 cents in trading 596,988 units to end at $16. Salada Foods gained $1.15 with 10,000 units changing hands at $10, Scotia Group had 18,000 shares changing hands and closed at $27, Scotia Investments traded 3,729 units but dropped $6 to $27.50, Supreme Ventures gained 5 cents with 20,000 units changing hands at $4.85 and Proven Investments ended trading 44,259 units with the price ending at 22.9 US cents.

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