New trading platform slows trading – Monday

The stock markets in Jamaica, Trinidad and Barbados switch over trading to a new electronic trading platform on Monday and seem to have negatively affected trading levels in Jamaica as brokers get comfortable with it, even as the South African developers have staff in Kingston trying to resolve issues on the spot.
The end result is that trading reports were late and included errors some of which were sorted out and some have not. The market closed on Monday, as 42 securities changed hands in the overall market, ending with 19 stocks rising and 8 falling, including 6 stocks gaining and 2 declining, in the junior market while 5 securities ended at new 52 weeks’ closing highs.
All major market indices rose moderately compared with the sharp increase for the past 7 trading days. The all All Jamaica Composite Index jumping 2,645.20 points to close at record 242,937.76, the JSE Market Index climbed 2,365.27 points to finish at record close of 221,604.07 and the JSE combined index grew 2,425.63 points, to close at new closing high of 236,136.77. The movement of the main market, for the year to date, resulted to gains of 15.6 percent, for the all Jamaica Composite Index.
At the close, 4,099,498 units valued at $80,043,145 changed hands, compared to 7,100,472 units valued at $124,253,097 changing hands on Friday. Of the stocks traded, the junior market accounted for 1,530,168 units, valued at $11,104,756.
The average trade for the day in the main market ended at 104,123 shares compared to an average of 198,939 units on Friday. For the month to date, an average of 177,355 shares traded, versus an average of units 250,588 units up to the prior trading day. January ended with an average of 592,602 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 11 stocks with bids higher than their last selling prices and 4 with lower offers.
In market activity, Barita Investments traded 20,000 units at $7.50, Berger Paints advanced 33 cents to close at $11.40 with trades of 9,610 shares, Cable and Wireless traded 967,561 units at $1.15, Caribbean Cement lost 1 cent to close at $33 with an exchange of 17,621 shares. Carreras gained 75 cents and closed at $66.75 with 20,627 units changing hands, Grace Kennedy added 14 cents, closing at $40.64 with trades of 28,845 units. Jamaica Broilers lost 2 cents trading 4,414 shares to close at $15.48, Jamaica Producers traded 99,258 units, rising $1 to end at a 52 weeks’ closing high of $19, Jamaica Stock Exchange closed at $6.21, and a gain of 61 cents with 20,000 shares changing hands, JMMB Group gained 49 cents, to close at 52 weeks’ closing high of $17.99 with 87,666 units traded. Kingston Properties exchanged 9,400 shares at $10 for a gain of 50 cents, Kingston Wharves closed at $33 with trades of 9,017 units, National Commercial Bank closed at $64.90, after swapping 23,719 shares.

138 Student Living traded 13,050 units at $4.50, Pan Jamaican gained $1 to close at $31 with 250 shares traded, Portland JSX closed at $10 after trading 1,000 units, Pulse Investments lost 1 cent to close at $7.09, trading 15,300 units. Radio Jamaica closed at $1.30, losing 6 cents trading 47,183 shares, Sagicor Group slid $1.50 to close at $31 with 206,549 shares changing hands, Scotia Group ended trading with gains of $4.99 to close at $44.99, having traded 730,560 shares, Scotia Investments gained 7 cents, after trading 12,380 units and closed at $35.07. Supreme Ventures lost 15 cents with 51,437 shares traded and closed at $5.55, Proven Investments traded 785,568 ordinary shares, down 3 cents to close at 26.01 US cents, JMMB 7.25 closed at $2.41 with gains of 2 cents and 40,606 units being exchanged and JMMB Group 7.5% preference share traded 1,862 units at $2.14.