Pan Jamaica Investment Trust stock jumped $4.08 today to close at $57.60 back to the level it traded at prior to the NDX debt exchange of Government of Jamaica bonds in February this year. Pan Jamaican traded 75,651 units valued at $44.1 million. Grace Kennedy followed up with a gain of $1.75 with the stock getting back to its recent high of $60 while trading just 5,861 shares.

The Jamaican stock market put in a splendid performance today with 27 stocks trading valued $112,141,197 as 21.8 million shares changed hands. Sagicor Investments, accounted for 5.378 million units with a value of $83.55 million, all of the shares were sold and bought within Pan Caribbean brokerage house. Consolidated Bakeries traded over 12.3 million units worth $11.94 million. NCB Capital markets bought 12.11 million units at 90 cents for clients. Mayberry Investments traded 2.068 million units valued at $4.18 million on a day when the number of advancing stocks were in excess of declining ones, almost 3 to 1 as 15 advanced versus 6 declining.

At the end of trading, 8 stocks closed the day with bids higher than the last selling price. There were none with offers lower than the last sale price. One stock made 52-week high as Caribbean Cream, the new listing on the junior market, gained 14 cents to close at $1.15 up 15 percent on the IPO price with 60,000 units trading today. At the end of trading, there were more than 400,000 units on the bid between 94 cents and $1.06 and 265,000 on offer at $1.15 to $1.20.

Other stocks that had noticeable price movements were, Access Financial down 50 cents to $7.50, Blue Power off 55 cents to $6.05, Carreras down 38 cents to $57.52. JMMB climbed 45 cents to $7.50, NCBJ up 35 cents to close at $18.89 as 130,191 shares traded having traded as high as $19. Seprod shed 48 cents and closed at $14.52 on very small volume of 1,500 units.

At the end of trade, the main market index put on 297.88 points closing at 85,693.25 and the All Jamaica Composite closed over the 85,000 mark the first time since early February when it closed at 85,325, today it closed at 85,125. The main market index closed at the highest point today, since it closed at 85,693 on March 6^th this year.

The positive advance decline ratio coupled with the number of stocks with bids above last selling price are two factors that say this market is heading higher.

Advancing stocks out-do declining ones again | Trading picked up today as 4,114,189 units valued at over $67,585,621 were traded. National Commercial Bank 1,037,700 units valued at $19.6 million, Pan Jam traded 400,000 units at a value of $421.4 million, Carreras traded 220,989 units valued at $12.667 million, Dolphin Cove  with 816,710 units amounting to $6.6 million, Lasco Financial Services chipped in with 376,000 units valued at $3 million and General Accident Insurance Company with 505,500 units with value of $900,000. The movement and demand for the Lasco Financial shares comes against the background of earnings that are expected to be much higher than last year and should be released late this week or early next.

Major price movements were Grace falling $1.75 to $58.25, Kingston Wharves up 35 cents to close at a 52 weeks high of $7, Lasco Financial up 30 cents to $8.10 a 52 weeks high, NCB losing 44 cents to $18.55 and Scotia Investments down 50 cents to $23.50.

There was a positive advance/decline ratio of 12 to 5 thus maintaining the mildly bullish trend seen in the last 2 weeks. Supply of stocks at current price levels for the more attractive stocks are proving harder to come by suggesting that buyers will need to up their bid prices if they are to get the quantities they want. The number of stocks with bids above their last sale continue to show up in the market, an indication that sellers not prepared to sell as low as the last selling prices.

The JSE indices moved up moderately with two reflecting no change as no stocks associated with them traded.

Bullish signs are present | The Jamaica stock market registered gains in the main market index as First Caribbean International Bank gained $1.50 to close at $103 while trading just 2,537 shares. The All Jamaica Composite index fell, however, in spite of a positive advance decline ratio. Trading in the market was characterised by heavy cross trading carried out primarily by MVL Stockbrokers. The cross trades helped the volume reach 10.7 million units with a value of $93.9 million.

Two stocks reached 52 weeks high in trading while there was demand for stocks with prices above the last selling price that went unfilled at the end of trading. Blue Power reached $6 up 15 cents with a volume of 913,000 units traded by Mayberry which they bought for their own account. At the end of trading, they had a bid for 200,000 at $6. Kingston Properties traded more than 2 million shares and gained 51 cents to close at $4.51, NCB gained 28 cents to close at $18.50 with 215,300 shares trading. Scotia Investments in its up- today-down-tomorrow shed $3 in trading 452,185 shares with most being a cross and closed at $23.50.

At the close, the junior market looked very bullish as there is a general standoff between buyers and sellers with bids and offers being very wide.