The main market of the Jamaica Stock Exchange hits an intraday high, in early trading but failed to close at a new high.
The main market Jamaica Stock Exchange, hit an intraday record high at the start of trading on Monday but closed lower within 525 points of the record close on March 12.
At the close, the all Jamaican Composite Index jumped 1,544.61 points to 324,039.68 and the JSE Index climbed 1,407.32 points to 295,236.78.
Trading closed with 25 securities changing hands, up from 32 on Friday, leading to 13 advancing, 6 declining and 6 trading firm, in the main and US dollar markets. Securities closing with sizable price changes include, Caribbean Cement lost $1 to close at $41, Grace Kennedy declined by $1.50 to $48 and JMMB Group lost $1.30 to end at $24.70.
Main market activity ended with 19,076,584 units valued at $210,708,799 compared to 6,019,816 units valued at $133,802,480 changing hands on Friday. Wisynco Group traded 15,104,462 units and accounted for 79.18 percent of the day’s volume, followed by Ciboney Group, with 1,013,952 units and Victoria Mutual Investments with 659,569 shares.
Trading resulted in an average of 706,540 shares valued at $7,804,030 for each security traded, compared to 250,826 shares valued at $5,575,103 on Friday. For the month to date, an average of 655,542 units with an average value at 21,921,023 traded, compared to 674,192 units with an average value at $23,762,597 changing hands on the previous trading day. In contrast, February closed with average of only 213,336 units valued at $3,392,475 for each security traded.
Trading in the US dollar market on Monday ended with 390,231 units valued at US$104,789 with the market index closing with a fall of 6.21 points to 162.95. Proven Investments ordinary share ended trading 369,771 units at 20 US cents followed by Margaritaville (Turks) with 260 units at 25 US cents and JMMB Group 5.75% preference share, closed with 20,200 units trading at US$1.50.
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 3 with a lower offers.
For more details of market activities see – Wisynco corners 79% of JSE main market – Monday.
