Cement drops $8.90 on JSE – Tuesday

Carib Cement dropped sharply from record close on Monday.

Caribbean Cement dropped $8.90 to lead four stocks declining $2.50 or more, on the Jamaica Stock Exchange ended on Tuesday and helped to send the market index into a fall.  
Investors pushed Cement to $67 in early trading but some selling came in to move the price lower to $56, but the stock closed with the bid at $60. Supreme Ventures that closed at a record high of $29.50 fell by $2.50 at the close. JMMB Group lost $3.49 and Kingston Wharves was down $4 at the close.
At the end of trading the Jamaica Stock Exchange main market retreated a bit from its upward climb to the record high of November last year and is now within 8,000 points away.
The JSE All Jamaican Composite Index lost 1,034.03 points to end at 425,445.48 and the JSE Index declined by 939.63 points to 387,608.90.
At the close of the main and US markets, 31 securities traded, compared to 35 on Monday and leading to 11 advancing, 11 declining and 9 closing unchanged.
Trading ended with 1,404,921 units at just $34,225,857 crossing the exchange, compared to 4,774,806 units valued at $58,420,189 changing hands on Monday.
On a day of low volumes, Victoria Mutual Investments led trading with 597,440 shares, and no other stock came close.
Market activity ended with an average of 50,176 units valued at an average of $1,222,352 for each security traded. In contrast to 170,529 units for an average of $2,086,435 on Monday. The average volume and value for the month to date amounts to 110,352 units valued at $1,654,394. Trading for March resulted in an average of 438,501 shares at $9,851,307, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 6 stocks ending with bids higher than their last selling prices and 4 closing with lower offers.
In main market activity, Barita Investments fell 37 cents to $44.40, with an exchange of 1,025 shares, Caribbean Cement dropped $8.90 to close at $56, with 152,518 shares changing hands, Jamaica Broilers rose $1.49 in trading 4,202 units to close at $31.50, Jamaica Producers gained 50 cents to close at $22.50, with 20,445 shares changing hands. JMMB Group dropped $3.49 and concluded trading of 49,159 shares at $30.01, Kingston Wharves sank $4 to settle at $68, trading 5,332 units, Mayberry Investments lost 92 cents trading 17,500 shares to close at $8.28, Salada Foods rose 95 cents in closing at $30, with 200 shares changing hands.  Scotia Group  dropped 49 cents trading 30,677 shares at $51.01, Seprod rose $1.29 to close at $43.44 in trading 2,351 shares, Supreme Ventures  dropped $2.50 to finish at a record high of $27, with an exchange of 111,448 units.
Trading in the US dollar market resulted in 160,444 units valued at over $20,989 changing hands. Margaritaville  closed 25 US cents while trading with 233 shares, Proven Investments gained 1 cents trading 37,769 at 23 US cents and Sygnus Credit Investments exchanged 122,442 shares at 10 US cents. The JSE USD Equities Index gained 2.99 points to close at 179.23.

Cement jumps $6.90 to record high

Caribbean Cement ended trading at a new closing high of $64.90 on Monday.

Caribbean Cement jumped sharply by $6.90 to a new high of $64.90 on Monday while Supreme Ventures hit an all-time high of $29.50 to help kick off the second quarter for the main market positively.
Investors sucked out the limited volume of supply of Cement on offer but had just one offer of just 1,500 units at $105. Supreme Ventures has been in short supply recently and have decent demand, ended with just 18,425 shares on offer at $29.50.
At the end of trading the Jamaica Stock Exchange main market inched closer to the record high of November last year and is now within less than 7,000 points away.
The JSE All Jamaican Composite Index gained 298.91 points to end at 426,479.51 and the JSE Index advanced 271.62 points to 388,548.53.
At the close of the main and US markets, 31 securities traded, compared to 35 on Friday and leading to 11 advancing, 11 declining and 9 closing unchanged.
Trading ended with 4,774,806 units valued at $58,420,189 crossing the exchange, compared to 5,517,346 units valued at over $192,929,461, changing hands on Friday.
Pulse Investments led trading with 3.3 million shares, accounting for 69 percent of the day’s volume in the main market, followed by Grace Kennedy with 288,330 units or 6 percent of the volume traded and Wisynco Group with 242,543 shares amounting to 5 percent of the overall volume.
Market activity ended with an average of 170,529 units valued at over $2,086,435, in contrast to 183,912 shares valued at $6,430,982 on Friday. Trading for March resulted in an average of 438,501 shares at $9,851,307, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 11 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments rose 85 cents to $44.77, with an exchange of 1,530 shares, Caribbean Cement jumped $6.90 to a record close of $64.90, with 47,525 shares changing hands, Jamaica Broilers shed $2.49 in trading 14,217 units to close at $30.01, Jamaica Producers lost $1 to close at $22, with 60,000 shares changing hands. JMMB Group concluded trading of 10,567 shares after rising 50 cents to end at $33.50, Mayberry Investments rose 70 cents trading 7,100 shares to close at $9.20,  Sagicor Group  declined 48 cents to settle at $38.02, with 34,475 shares changing hands.  Scotia Group dropped $1.30 trading 65,407 shares at $51.50, Seprod rose 44 cents to close at $43.44 in trading 2,351 shares, Sterling Investments  rose 49 cents and concluded trading at $3.99, with 51,216 stock units. Supreme Ventures  rose $2.01 to finish at a record high of $29.50, with an exchange of 111,448 units, Sygnus Credit Investments lost 30 cents in trading 21,821 units, to end at $12 and Wisynco Group lost 45 cents and ended trading of 242,543 shares to close at $11.50.
Trading in the US dollar market resulted in 20,196 units valued at over $14,334 changing hands. JMMB Group 6% US dollar preference share trading  8,000 units and gained 3 cents to close at US$1.04, JMMB Group

5.75% USD preference share ended at $2 with 2,500 units changing hands and Sygnus Credit Investments had 9,696 units trading at 10 US cents. The JSE USD Equities Index gained 0.45 points to close at 176.24.

Watch Junior Market for break higher

Junior Market poised to breakout.

Jamaican stocks are in for an interesting period with Junior Market stocks down nearly 5 percent for the year to date, lagging their main market stocks counterparts that are up 2.2 percent for 2019, but technical indicators now point to a big rally for the Junior Market.
The Junior Market is currently, supported by two major technical indicators, indicating a rising market ahead. One is a triple bottom that it is bouncing off and the other a wedge formation, both indicate a big breakout. The last time the market had a triple bottom was between March and July last year and the market gained more than 500 points.
The Jamaica Stock Exchange main market may be consolidating, but it seems to be making another effort to challenge the record high of 433,307.22 reached by the All Jamaica Composite Index in November last year. With the market closing on Friday at 426,180.60 points, it will require some meaningful price gains to close the more than 7,000 points gap.

Carib Cement traded at $58 on Friday.

For the current week, which stock could contribute to closing of the gap? Buying interest remains good for Carib Cement that moved up by $2 by the close of the week to $58. There is some selling at the last traded price but demand should take this out soon. Radio Jamaica is in demand again with a big increase in the December quarter’s profit that spell positives for the 2020 fiscal year’s results.
Wisynco came in for some selling pressure last week by the close on Friday, the stock ended at $11.95. Going forward the stock is a strong buy with increasing business and improving efficiency in operations and with credible reports that they are in talks with other local producers to distribute some popular local brands. Supreme Ventures continues to make new highs and is worth watching. The price is high more up even higher during the week but supply seems inadequate to meet demand, but an investment in the stock now may only warrant those looking for long-term returns.

NCB Financial traded at $145.05 on the JSE on Friday.

More buying came in for NCB Financial with it closing the week marginally higher at $145.05. The stock may still take some time to break higher but with second quarter results due by end of April increase demand could well develop ahead of the results.
Junior Market stocks to watch this week include, the overhang of Cargo Handlers stock was taken out last week at $11.06 and seem set to pave the way for a bounce in the price, but the stock is a bit overvalued relative to the overall market. Caribbean Cream that closed at $5.55 but traded up to $6.60 in the previous week. Full year results are due towards the end of April and that could help the stock. Caribbean Producers came into buying last week, with a move higher going forward, supported by technical indicator. Sellers of General Accident shares continues to be low, but buyers are trying to get stocks no higher than $4.50 currently at a PE of 15 times 2018 earnings and well below likely 2019 earnings. Investors in the stock at the start of 2018 got a dividend that exceeded 5 percent. If the same were to happen in 2019, the stock would end up at $6 by the end of this year. Investors continue to demand Elite Diagnostic stock at $3.20 or lower with sellers mostly wanting close to $3.50. Trading higher may not occur until closer to the release of nine months results due by mid-May. Honey Bun is showing all the signs of moving higher and traded

Honey Bun traded higher last week.

at $4.24 this past week, up from $3.83 at the end of the previous week. The bid for the stock is now at $4.15. Fontana closed the past week with a slight uptick to end at $4.05, buying continues to be good. With strong potential for growth to flow from expansion of stores now on the way, the stock is to be watched for the inevitable breakout. Express Catering has been enjoying decent buying interest. It is bound to be a big winner from the double digit upsurge in Tourist arrivals so far in 2019. Lasco Manufacturing was in the news with expansion of the storage facilities to accommodate increased production, the stock gained last week and could record further gains this coming week, regardless it one worth watch for longer term gains.

JSE majors gunning for new record

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The main market of the Jamaica Stock Exchange in another drive to take out the record high of November last year closed March within 7,000 points of the record high.
The JSE All Jamaican Composite Index climbed 2,627.41 points to 426,180.60 and the JSE Index advanced by 2,387.55 points to 388,276.91.
At the close of the main and US markets, 35 securities traded, compared to 34 on Thussday and leading to 21 advancing, 8 declining and 6 closing unchanged.
Trading ended with 5,517,346 units valued at over $192,929,461 compared to 2,434,513 units at $93,372,469, changing hands on Thursday.
Barita Investments led trading with 2 million shares, accounting for 36 percent of the day’s volume in the main market, followed by JMMB Group with 790,749 units or 14 percent of the volume traded and Mayberry Jamaican Equities with 701,614 shares amounting to 13 percent of the overall volume.
Market activity ended with an average of 183,912 units at $6,430,982 for each security traded. In contrast to 81,150 units for an average of $3,112,416 on Thursday. The average volume and value for the month to date, amounts to 438,501 shares at $9,851,307 for each security traded, in contrast to 468,945 shares at $10,386,003 on the prior trading day. Trading for February resulted in an average of 281,016 shares with a value of $11,715,160, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 12 stocks ending with bids higher than their last selling prices and 4 closing with lower offers.
In main market activity, Barita Investments jumped $4.02 to $43.92, with an exchange of 2,006,616 shares, Caribbean Cement jumped $1.50 to close of $58, with 25,100 shares changing hands, Jamaica Broilers added $2.49 in trading 5,499 units at $32.50, Jamaica Producers rose by $1 to close at $23, with 39,564 shares changing hands. JMMB Group concluded trading of 790,749 shares after rising $1.01 to end at $33, Kingston Properties rose by $1 to finish at $7, with 200 stock units changing hands, Kingston Wharves gained $1, finishing at $72 with an exchange of 9,928 stock units. Mayberry Investments lost 39 cents trading 59,687 shares to close at $8.50, Mayberry Jamaican Equities traded 701,614 shares after rising 30 cents to end at $10, NCB Financial Group rose 80 cents trading 35,190 shares at $145.05, Sagicor Group gained 48 cents to settle at $38.50, with 57,957 shares changing hands. Scotia Group climbed $1.80 trading 87,138 shares at $52.80, Seprod rose $1.29 to close at $43 in trading 49,920 shares, Sterling Investments lost 47 cents and concluded trading at $3.50, with 41,000 stock units. Supreme Ventures rose 49 cents to finish at $27.49, with an exchange of 173,445 units, Sygnus Credit Investments rose 80 cents with 24,000 units trading, to end at $12.30 and Wisynco Group gained 45 cents and ended trading of 58,584 shares to close at $11.95.
Trading in the US dollar market resulted in 544,623 units for US$125,266 changing hands with Margaritaville trading 3,875 shares and increased 3 cents to close at 25 US cents, Productivity Business traded 2,051 stock units and rose a fraction of a cent to 59 US cents. Sterling Investments finished trading at 4 US cents with 3,292 units, Proven Investments lost 0.99 US cents in trading 100,129 units to close at 22 US cents and Sygnus Credit Investments lost 1 cent with 12,213 units trading, to end at 10 US cents. The JSE USD Equities Index fell 4.07 points to close at 175.79.

JSE majors falters – Thursday

Jamaican stocks pulled in trading on the main market of the Jamaica Stock Exchange on Thursday with the market falling under 1,000 points was the volume and value declined sharply from Wednesday’s level.
At the close of trading, the JSE All Jamaican Composite Index lost 945.97 points to 423,553.19 and the JSE Index declined by 859.61 points to 385,889.36.
At the close of the main and US markets, 35 securities traded, compared to 34 on Wednesday and leading to 8 advancing, 17 declining and 10 closing unchanged.
Trading ended with 2,434,513 units at $93,372,469 compared to 84,511,402 units at $295,941,707, changing hands on Wednesday. Supreme Ventures led trading with 566,003 shares, accounting for 23 percent of the day’s volume in the main market, followed by NCB Financial Group with 343,382 units or 14 percent of the volume traded and 1834 Investments with 282,500 shares amounting to 12 percent of the overall volume.
Market activity ended with an average of 81,150 units valued at $3,112,416, in contrast to 2,560,952 shares valued at $8,967,930 on Wednesday. The average volume and value for the month to date, amounts to 468,945 shares at $10,386,003 for each security traded, in contrast to 347,829 shares at $10,473,147 on the prior trading day. Trading for February resulted in an average of 281,016 shares with a value of $11,715,160, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 14 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments closed with a fall of $2.59 at $39.90, with 113,888 shares trading, Berger Paints gained 75 cents to close $21, in exchanging 14,615 stock units, Caribbean Cement dropped $2.50 to close of $56.50, with 8,623 shares changing hands. Jamaica Broilers dropped $1.49 and finished trading 63,737 units at $30.01, Jamaica Producers  rose 45 cents to close at $22, with 5,985 shares changing hands, Kingston Wharves fell $1 and finished at $71, with an exchange of 4,249 stock units. Mayberry Investments  gained 88 cents trading 9,588 shares to close at $8.89,  NCB Financial Group  lost 75 cents trading 343,382 shares at $144.25,  Proven Investments traded 100 units and rose $2 to end at $32, Sagicor Group  lost $1.63 to settle at $38.02, with 92,585 shares changing hands. Sagicor Real Estate Fund traded 28,481 shares after rising 40 cents at $10.60,  Scotia Group  finished trading at $52.80, with 87,138 shares, Seprod fell $1.29 to close at $41.71 in trading 35,284 shares, Supreme Ventures lost 50 cents to finish at $27, with an exchange of 566,003 units and Sygnus Credit Investments lost 80 cents with 20,000 units trading, to end at $11.50.
Trading in the US dollar market resulted in 544,623 units for US$125,266 changing hands with Proven Investments traded 544,623 units at 22.99 US cents. The JSE USD Equities Index rose 0.08 points to close at 179.86.

Another jump for JSE majors – Wednesday

Supreme Ventures traded at a new record high on Wednesday.

Jamaican Stocks made another sizable push higher in trading on the main market of the Jamaica Stock Exchange on Wednesday with the market, indices rising more than 2,000 points gained on Tuesday.
At the close of trading, the JSE All Jamaican Composite Index jumped 3,483.21 points to 424,499.16 and the JSE Index climbed a strong 3,165.22 points to 386,748.97.
At the close of the main and US markets, 34 securities traded, compared to 33 on Tuesday and leading to 15 advancing, 9 declining and 10 closing unchanged. Caribbean Cement and Supreme Ventures ended at 52 weeks’ closing high.
Trading ended with 84,511,402 units at $295,941,707 compared to 3,652,445 units at $151,937,909, changing hands on Tuesday. Radio Jamaica led trading with 84.5 million shares, accounting for 92 percent of the day’s volume in the main market, followed by JMMB Group 7.5% preference share with 1.4 million units or 1.7 percent of the volume traded and Supreme Ventures with 945,125 shares amounting to one percent of the overall volume.
Market activity ended with an average of 2,560,952 units valued at an average of $8,967,930 for each security traded. In contrast to 121,748 units for an average of $5,064,597 on Tuesday. The average volume and value for the month to date, amounts to 468,945 shares at $10,386,003 for each security traded, in contrast to 347,829 shares at $10,473,147 on the prior trading day. Trading for February resulted in an average of 281,016 shares with a value of $11,715,160, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 13 stocks ending with bids higher than their last selling prices and none closing with a lower offer.
In main market activity, Barita Investments closed with a rise of $1.49 at $42.49, with 35,029 shares trading, Berger Paints gained 25 cents to $20.25, in exchanging 94,100 stock units, Caribbean Cement jumped $4 to a record close of $59, with 544,203 shares changing hands. Eppley traded 355 shares and jumped $1.07 to $10.57, Jamaica Broilers dropped 40 cents and finished trading 231,810 units at $31.50, Jamaica Producers lost 45 cents to close at $21.55, with 15,466 shares changing hands, JMMB Group rose 99 cents trading of 342,433 shares to close at $31.99. Kingston Properties lost 60 cents to settle at $6, trading 1,673 units, Kingston Wharves jumped $1.99 and finished at $72, with an exchange of 80,966 stock units, Mayberry Investments lost 49 cents trading 287,560 shares to close at $8.01,  NCB Financial Group  gained 30 cents trading 416,046 shares at $145.  Pulse Investments  gained 49 cents to finish at $2.99, with 183,602 shares trading, Sagicor Group  rose 65 cents to settle at $39.65, with 334,231 shares changing hands. Seprod fell 45 cents to close at $43 in trading 53,653 shares and Supreme Ventures  rose $1.50 to finish at a 52 weeks’ closing high of $27.50, with an exchange of 945,125 units.
Trading in the US dollar market resulted in 160,021 units for US$36,774 changing hands with Proven Investments traded 160,021 units at 22.99 US cents. The JSE USD Equities Index lost 0.08 points to close at 179.78.

Pick up in JSE trading – Tuesday

Trading on the main market of the Jamaica Stock Exchange ended on Tuesday with JSE All Jamaican Composite Index recovered 2,246.27 points it lost on Monday to reach 421,015.95 and the JSE Index regained 2,041.20 points to end at 383,583.75.
Volume traded climbed 30 over Monday’s level to 3,652,445 units but the value more than doubled, to $151,937,909, compared to 2,806,548 units valued $75,154,263 changing hands on Monday.
At the close of the main and US markets, 33 securities traded, compared to 30 on Monday and leading to 10 advancing, 12 declining and 11 closing unchanged. Supreme Ventures ended at a record closing high of $26 but JMMB Group 7% preference share ended at a 52 weeks’ low of $1.95 and drove the yield to 8 percent.
Grace Kennedy led trading with 1,667,776 units, accounting for 46 percent of the day’s volume in the main market, followed by Barita Investments with 551,739 units or 15 percent of the volume traded and Victoria Mutual Investments with 367,668 shares amounting to 10 percent of the overall volume.
Market activity ended with an average of 121,748 units valued at over $5,064,597, in contrast to 96,778 shares valued at $2,591,526 on Monday. The average volume and value for the month to date, amounts to 347,829 shares at $10,473,147 for each security traded, in contrast to 360,389 shares at $10,793,179 on the prior trading day. Trading for February resulted in an average of 281,016 shares with a value of $11,715,160, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 14 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments closed with a loss of $1.49 at $41, with 551,739 shares trading, Berger Paints climbed $1 to $20, in exchanging 1,853 stock units, Caribbean Cement lost 50 cents to close at $55, with 41,992 shares changing hands. Grace Kennedy gained $1 trading 1,667,776 stock units, to close at $59, Jamaica Broilers climbed $1.89 and finished trading 4,783 units at $31.90, JMMB Group rose 98 cents trading of 57,316 shares to close at $31. Kingston Wharves jumped $5.01 and finished at $70.01, with an exchange of 2,179 stock units, NCB Financial Group lost 25 cents and ended trading 85,329 shares at $144.70, Sagicor Group lost 50 cents to settle at $39, with 10,211 shares changing hands. Scotia Group gained 80 cents, trading 1,672 shares, to close at $51, Supreme Ventures rose 50 cents to finish at a 52 weeks’ closing high of $26, with an exchange of 120,455 units.
Trading in the US dollar market resulted in 33,305 units for US$9,172 changing hands with JMMB Group 6% USD preference shares traded 3,300 shares at US$1.01, Proven Investments traded 21,160 units at 22.99 US cents followed by Sygnus Credit Investments exchanged 8,845 units at 11 US cents. The JSE USD Equities Index advanced 0.21 points to close at 179.86.

Big fall in JSE major indices – Monday

Supreme Ventures hits record high of $27.90 on Monday.


Trading on the main market of the Jamaica Stock Exchange ended on Monday with JSE All Jamaican Composite Index diving 3,556.04 points to 418,769.68 and the JSE Index dropping by 3,231.40 points to 381,542.55.
Volume traded, dived below normal levels, with 2,806,548 units valued $75,154,263 changing hands, compared to 3,578,014 units valued at $135,408,659 on Friday.
At the close of the main and US markets, 30 securities traded, compared to 29 on Friday and leading to 8 advancing, 14 declining and 8 closing unchanged.
Seprod led trading with 779,351 units, accounting for 28 percent of the day’s volume in the main market, followed by Mayberry Equities with 301,405 units or 11 percent of the volume traded and Radio Jamaica with 280,000 shares amounting to 10 percent of the overall volume.
Market activity ended with an average of 96,778 units at $2,591,526 for each security traded, in contrast to 127,786 shares for $4,836,024 on Friday. The average volume and value for the month to date, amounts to 360,389 shares at $10,793,179 for each security traded, in contrast to 375,350 shares at $11,290,769 on the prior trading day. Trading for February resulted in an average of 281,016 shares with a value of $11,715,160, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 13 stocks ending with bids higher than their last selling prices and 1 closing with a lower offer.
In main market activity, Berger Paints lost 30 cents to end at $19, in exchanging 6,894 stock units, Caribbean Cement lost 50 cents to close at $55.50, with 42,244 shares changing hands, Grace Kennedy fell 75 cents trading 16,088 stock units, to close at $59, JMMB Group lost $1.35 trading of 7,857 shares at $30.02. Kingston Wharves dropped $5 and finished at $65, with an exchange of 148,197 stock units, PanJam Investment rose $1.60 to close at $81.70, trading 18,461 units, Sagicor Group lost 50 cents to settle at $39.50, with 64,710 shares changing hands. Salada Foods fell 95 cents in trading 2,529 units at $29.05, Scotia Group dropped $1.35 trading 34,493 shares, to close at $50.20, Seprod rose 45 cents to close at $43.45, with 779,351 shares changing hands. Supreme Ventures rose 30 cents to finish at a 52 weeks’ closing high of $25.50, with an exchange of 115,136 units, after it traded at an all-time high of $27.90 and Sygnus Credit Investments fell 30 cents to close of $12, with 10,000 units changing hands.
Trading in the US dollar market resulted in 1,800 units valued at $1,840 changing hands with JMMB GROUP 6.00% USD preference shares was the sole stock trading in this market with 1,800units, to close at with a loss of 2 US cents at US$1.02. The JSE USD Equities Index remained unchanged to close at 179.65.

Carib Cement tops stocks to Watch

Carib Cement plant in Kingston – 2019 should be a big year for the stock.

Carib Cement could be the top stock to watch this week, with quite some supply taken out of the market last week, on the way to a record close on Friday.
Stocks on the Jamaica Stock Exchange have been consolidating, with little new information to stimulate investors to be either aggressively buying or selling stocks. The market indices have been going up and down for most of the year to date.
A series of significant developments are taking place locally, that investors should be paying keen attention to as they may have coded messages for what is in store for some for the rest of the year.
The strong double growth in stopover tourist arrivals to March has strong implication for earnings of three companies. Express Catering is one company to benefit directly as departing passengers numbers rise resulting in increased patronage of their restaurants. Dolphin Cove that came in for increased selling recently, is yet another that stands to benefit directly as more tourist arrivals will likely lead to more patronage of the attraction. Caribbean Producers and Everything Fresh, major suppliers to the tourist industry, will be selling more goods to the hotel sector.
Reduced transfer tax, stamp duties, reduced mortgage rates and increase in the maximum sum the NHT can lend will all feed into increased demand for development properties and lead to increased demand for cement and paints amongst other inputs into construction.

BOJ interest rate & cash reserves cut will help push demand in the economy.

The fall in interest rates led by Bank of Jamaica and increased liquidity that has flowed from the reduction in the level of cash reserves banks have to keep at BOJ, will lead to increased demand for loans and that will be positive for banks.
The exchange rate for the Jamaican dollar has swung from $138 to the US dollar to $125 currently. Such swings will result in big gains or losses for companies with large assets or liabilities in held in foreign currencies. Investors have to decide how to read the effects of such swings on profits and by extension the pricing of stocks.
Jamaica Public Service switch to the new LNG power supply as well as the solar plant to be added to the network this year, will reduce imports of petroleum and demand for US dollars and will result in the lowering of electricity cost to users. The change will also increase productivity of businesses as energy cost declines.
Other stocks to watch include this week include, Caribbean Cream that shot up to $6.60 on Friday with a sudden burst of buying. Sellers of General Accident shares have fallen, with just 4 now posting sell orders at the close on Friday. Buyers are trying to buy Elite Diagnostic stock at $3.20 or lower with sellers mostly wanting close to $3.50. Trading higher may not occur until closer to the release of nine months results due by mid May. Honey Bun is showing all the signs of moving higher. The bid for the stock closed at $3.98 versus the last traded price of $3.83. Fontana seems stuck around $4 but with strong potential for growth, it must be watched for the inevitable break out. Express Catering has been enjoying decent buying interest. It is bound to be a big winner from the upsurge in Tourist arrivals so far in 2019. Wisynco came in for some selling pressure last week even as reports surfaced that they are in talk with yet another local producer to distribute popular brand on top of a major local brand, this is in addition to talks they have been in to distribute a major local brand with big international foot prints. Supreme Ventures continues to make new highs and is worth watching. The price is high and may only warrant long term investing. A lot of the selling of NCB Financial seems to have ended with the market taking the remainder out last week. The stock may still take some time to break higher.

 

Trading picks up on JSE – Friday

Caribbean Cement ended trading at a new closing high of $56 on Friday.

Volume traded on the Jamaica Stock Exchange on Friday rose over thursday’s level but remained well below norm, with 3,578,014 units valued at $135,408,659 trading, compared to just 1,589,969 units valued $46,193,207 clearing the market, on Thursday.
At the close of market, the main and US markets traded 29 securities, compared to 35 trading on Thursday. There was a total of 8 stocks advancing, 14 declining and 7 closing without price changes. Caribbean Cement ended at an all-time closing high of $56 and Supreme Ventures traded at an intraday 52 weeks’ high of $26 but closed lower at the end of market activities.
Trading resulted in, JSE All Jamaican Composite Index gained 400.31 points to 422,325.72 and the JSE Index advanced by 363.76 points to end at 384,773.95.
Scotia Group led trading with 1,148,109 units, accounting for 32 percent of the day’s volume in the main market, followed by Carreras with 349,610 units or 10 percent of the volume traded and Grace Kennedy with 321,057 shares for 9 percent of the overall volume.
Market activity ended with an average of 127,786 units valued at over $4,836,024, in contrast to 48,181 shares valued at $1,399,794 on Thursday. The average volume and value for the month to date, amounts to 375,350 shares at $11,290,769 in contrast to 389,701 shares at $11,692,398 for each security traded, on the prior trading day. Trading for February resulted in an average of 281,016 shares with a value of $11,715,160, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 10 stocks ending with bids higher than their last selling prices and 1 closing with a lower offer.
In main market activity, Barita Investments declined by $2, to close at $42.50, with an exchange of 149,150 shares, Caribbean Cement climbed $3 to finish at a 52 weeks’ closing high of $56, with 286,800 shares changing hands, Eppley  lost 45 cents and settled at $9.50, with 309,695 shares trading. Grace Kennedy  rose 75 cents trading 321,057 stock units, to close at $59.75, Jamaica Broilers  fell $2.99 to close at $30.01, with 34,124 shares changing hands, Jamaica Producers  lost $1.01 trading 118,876 units, at $21.99, JMMB Group  rose 37 cents in concluding trading of 25,478 shares at $31.37. Kingston Wharves dropped $2 and finished at $70, with an exchange of 2,518 stock units, Mayberry Investments  lost 53 cents to end trading of 79,692 shares at $8.47,  Mayberry Jamaica Equities traded 38,242 shares after rising by 55 cents to close at $10. PanJam Investment  fell $1.60 to close at $80.10, trading 70,826 units, Sagicor Group  gained 45 cents and settled at $40, with 18,955 shares changing hands, Scotia Group  climbed $1.35 trading 1,148,109 shares to close at $51.55 and  Sygnus Credit Investments fell $1.05 to close of $12.30, with 180,000 units changing hands.
Trading in the US dollar market resulted in 5,184 units valued $562 changing hands with Sygnus Credit Investments being the sole stock trading in this market, to close at 11 US cents. The JSE USD Equities Index gained 0.07 points to close at 179.65.