Tuesday, 1st October, 2013 | The Jamaica Stock Market started October in a spirited manner when the level of trading rose on Tuesday with 10,321,856 units trading valued at $95,698,771. Activity resulted in 32 companies stocks trading, with 9 stocks increasing in price to 5 that fell. The main market index climbed 550.14 to 85,050.34, the all Jamaica grew 967.97 to 85,339.46 and the junior market index was up 5.21 to 774.04.

The movement in the market on Tuesday is in line with the IC Insider comments that “eight of the stocks with higher bids are in the main market and could well result in a better start of the new month . . .”

Main market | A numbers of selected stocks in the main market had good volumes resulting in some price movements but that could well be related to portfolio realignment than an indication of greater market interest. Cable & Wireless had a volume of 20,644 units as the price remained unchanged at 18 cents; Caribbean Cement exchanged 17,741 units at $2.10, gaining 23 cents in the process; Desnoes & Geddes chipped in with 15,000 units and closed frim at $4.57; Jamaica Producers had a good volume with 2,000,000 closing firm at $18.25; National Commercial Bank Jamaica 1,101,900 traded firm at $19; Sagicor Life’s 2,547,861 units helped to push the price up by 41 cents to $9.01; Salada Foods put in 100,560 shares to close firm at $8.50; Seprod’s 509,552 units help push the price up a dollar to $14.50; Jamaica Money Market Brokers 7.50% traded for the first time since listing last week as 499,000 units traded at $2; Proven Investments 8% exchanged 78,440 units as the price remained unchanged at $5.09 and Proven Investments ordinary stock traded 51,560 units firm at US11.9 cents.

Junior market | C2W Music traded at a new all-time low with 44,000 units changing hands as the price was down 4 cents to 93 cents. Caribbean Cream traded 22,776 units firm at $1; Caribbean Producers Jamaica 61,100 units closed unchanged at $2.08; Consolidated Bakeries saw an 18 cents climb in the price $1.39 with 35,200 shares trading; General Accident Insurance had 32,000 units going through the market as the price increased 3 cents to $1.85; Lasco Distributors 294,845 units helped to move the price down by 4 cents to $1.46; Lasco Financial Services 1,488,652 traded at $1.21, off by 2 cents; while Lasco Manufacturing 1,115,311 units gained it 4 cents to close at $1.55; Paramount Trading had 16,324 units with the price closing firm at $3.20.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market consolidating with bids for 5 stocks being higher and 6 stocks with offers lower than their last selling price.

Monday, 30th September 2013 | Trading accounted for 12,298,941 units valued at $76,393,065 as the stocks of 24 companies traded on the last day of the month. The main market index was up 215.13 to 84,500.20, the all Jamaica index gained 378.51 to 84,371.49 and the junior index was up 7.02 to 768.83 as 9 stocks advanced to 7 declining.

The market measured by the all Jamaica and junior market indices was little changed during the month of September with the all Jamaica being up by a few points and the junior market down a few.

Trading patterns | During the last two trading days in August, the main market indices made noticeable advances as the prices of a few stocks moved up. However, on first day of trading in September, the indices dropped back wiping out the two-day gains. The all Jamaica index fell by more than 1,000 points and added more losses on the second day. By day three, the all Jamaica Index recovered all its losses but lost some more the following day. The last day of September is showing some of the same patterns as the last day of August.

Main Market | In Monday’s trading there were some big volumes, which included National Commercial Bank with 1,559,057 units valued at $29,309,186 with the price closing at $19 down 50 cents from Fridays close of $19.50. On Thursday, the stock closed at $18.60. Sagicor Life exchanged 1,029,279 units at $8.60 for a value of $8,851,610, the price gained 10 cents for the day. Jamaica Money Market Brokers was the other big volume mover with 1,491,600 units worth $11,929,695 as the price closed at $8, up 5 cents. Carreras traded 128,675 units valued at $6,045,561 as the price closed at $46.70 dipping by 50 cents; Caribbean Cement exchanged 42,236 shares but the price dropped 33 cents to close at $1.87; Gleaner Company traded 193,910 units at $1.21 up 3 cents; Scotia Group contributed just 12,265 units at $21.20, up 20 cents and Proven Investments 8% had 704,700 units trading firm at $5.09 for a value of $3,586,923.

Junior market | There was some pick up in trading in the junior market after prices for a number of the stocks declined to what could well be support levels. Access Financial Services put in a volume of 11,780 units as the price $8.40, down 10 cents; Caribbean Producers, which is again in the limelight with negative publicity about directors being charged for improper importation of meats into the island, traded only 16,188 units at $2.08, losing 2 cents on the day; Consolidated Bakeries chipped in with 73,386 units at $1.21, down 14 cents while Dolphin Cove gained 44 cents as it exchanged a good volume of 1,442,316 and closed at $8.45 as $12,185,925 was involved in the trade. Lasco Distributors contributed to the level of trading with 1,006,800 units at a closing price of $1.50 up 6 cents with a value of $1,509,838 and Lasco Financial Services had one of its best days’ volume wise with 4,373,000 units as it gained 3 cents to close at $1.23 worth $5,259,807.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market consolidating with bids for 9 stocks being higher and 5 stocks with offers lower than their last selling price. Eight of the stocks with higher bids are in the main market and could well result in a better start for October when compared to September.

Friday, 27th September 2013 | The standoff between buyers and sellers continued at the Jamaica Stock Exchange with only 17 stocks trading on a day when there were 5 stocks advancing to 2 that declined. The all Jamaica Index closed down 229.56 at 83,992.98 while the JSE composite market index closed at 84,285.07m off by 130.47 and the junior market fell by less than a point at 761.81.

On another trading day that was not very active, a total of 3,304,133 shares traded valued at only $12,213,637 as trading was dominated by Lasco Distributors with 1,446,912 units and Proven Investments 8% 930,915 units.

For the week, the market recorded a decline for the two market indices and the junior market had a slight increase. However, investors should not be fooled by the declines as the supply of stocks is low in many cases and the moving average technical indicator is flashing positive signals for the period ahead.

Main Market | The number of stocks with meaningful volume in the market were not many. However, Gleaner Company put in a volume of 60,000 as it traded firm at $1.18; Jamaica Broilers Group had only 16,254 units with the price closing at $4.90 gaining 10 cents in the process; Jamaica Producers Group traded firm at $18.25 with 20,086 shares; Kingston Wharves dropped 89 cents to $6.01 as 7,000 shares changed hands; National Commercial Bank had one of the more buoyant trading session in recent weeks with 170,697 as the price gained 60 cents to close at $19.50; Scotia Group exchanged just 1,190 units at $21 for an increase an of 21 cents. Jamaica Money Market Brokers 8.75% traded 205,000 firm at $3 with a value of $615,000 and Proven Investments 8%, 930,915 units traded firm at $5.09 for a total value of $4,738,357.

Junior market | Only stocks of 3 companies traded with Caribbean Producers trading 33,812 units firm at $2.10; General Accident Insurance, fresh from announcing a second interim dividend for the year, put in one of its better days with 385,896 units and closed at $1.80, up 10 cents and Lasco Distributors had a good day with 1,446,912 but closed down 6 cents to $1.44.

Market intelligence | There are limited supplies for a number of stocks. For example, National Commercial Bank has buying around the $18.50 level as buyers try to get the stocks as cheaply as possible, but there is not much selling below $24. With less than 400,000 units on offer at the end of trading on Friday, the market is thin for the stock. For Scotia Bank, some buying is around the $20-21 mark and selling mostly around $22.50 to $24. Sagicor Life has only 6 offers for less than 130,000 units between $9 and $11 while buying is between $8 to 8.50. There is good support for Pan Jamaican Investment at $48 as the stock retreated in price in recent days. Jamaica Broilers seems to have come in for some selling during the week with the price falling to the $4.60 level, while supply has increased just above $5 and demand has pulled back below $4.80.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market consolidating with bids for 6 stocks being higher and 6 stocks with offers lower than their last selling price.

Thursday, 26th September 2013 | Jamaica’s stock market may have improved measured by gains in today’s trading but there seems a standoff between buyers and sellers as sellers are asking prices that are generally higher than the current selling prices that buyers have been pulling in the past week or two.

Trading was slow with stocks of only 18 companies trading and just 2,444,915 units valued at $11,342,355 changing hands. The advanced decline ratio was positive at 7 to 3 as the main indices rose. The main index climbed by 292.73 to close at 84,415.54; the all Jamaica index, the best indication of the local market activity, rose 515.05 to 84,222.54 and the junior market index rose 3.56 to close at 762.70. Daily trading suggests a weak market but there are undercurrents that suggest otherwise. Watch the technical indicators, therein lies the true story and critical one is flashing bull signal.

Main Market | In today’s trading Carreras exchanged 10,870 units at $47.20 up 20 cents; Caribbean Cement 16,829 units cost $2.10 each a reduction of 10 cents; Gleaner Company’s 100,000 units resulted in a closing price of $1.18, down by a cents; Kingston Properties changed 30,000 units as the stock closed firm at $4.50; while Scotia Group chipped in with 140,959 units as the price closed firm at $21 and its subsidiary Scotia Investments added 62,192 units to the total at $26.50 each for an increase of 24 cents. National Commercial Bank lost 40 cents as the price closed at 18.60 after trading earlier at $9 but only 3,279 units changed hands.

Junior market | Access Financial Services 26,000 $8.50, up 22; Caribbean Producers traded 30,000 units firm at $2.10; Lasco Distributors 76,365 changed hands to close at $1.50 up by 2 cents and Lasco Financial Services participated with 1,137,554 and closed firm at $1.20.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 7 stocks being higher and 3 stocks with offers lower than their last selling price.