Record close for majors

The JSE All Jamaican Composite Index jumped for the third day in a row rising 2,504.83 points to close at a new record close 294,165.86 on Tuesday, helped by jump in the price of NCB Financial and Scotia Group.
The JSE Index advanced by 2,282.19 points to close at a new record close of 268,018.37, while the JSE US Equities Index advanced by 8.17 points to close at 184.98. Carreras traded at a new intraday high of $14 but ended trading down at $12.60 after trading nearly 1 million shares.
The market has broken through long term resistance of 290,000 points on the All Jamaican Composite Index but it sits just above the 300,000 points level which is a short term resistance with the market being hemmed at that level and 277,000 points on the low end. (See chart showing trading taking place within the channel)
Trading on the Jamaica Stock Exchange main market closed on Tuesday with 22 securities changing hands and one in the US d0llar market, leading 8 advancing, 11 declining and 4 trading firm. Trading volume jumped sharply to 78,668,713 units valued at $1,059,742,531 with Sagicor Real Estate Fund accounting for 76.5 million units, compared to 13,618,629 units valued at $432,506,372 trading on Monday. In the US dollar market trading accounted for 48,005 units valued at US$11,484, bringing the total trades in the markets to $1,061,223,932.
Trading ended with an average of 3,575,851 units for an average of $48,170,115 in contrast to 504,394 units for an average of $16,018,755 on Monday. The average volume for the month to date is 2,040,122 units valued at $32,094,435. In contrast, September closed with average of 283,480 units valued at $3,630,990 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows a very strong 7 stocks with bids higher than their last selling prices, up from 7 on Monday and 2 with lower offers, compared to 4 on Monday.