Wednesday, 21 August 2013 | Prices on both the main & junior markets took a dive today as declining stocks barely outnumbered advancers once more, with 7 advancing and 8 declining. In the process, the market took back more than it gained on Monday and Tuesday. The number of stocks trading amounted to 5.2 million valued at just $15.4 million as General Accident, Cable and Wireless and Jamaican Teas traded relatively large volumes.

The All Jamaican index fell by 814.28 to close at 85,179.80, the main market index was down by 462.79 points to 85,214.09 and the junior market down 12.12 point to close at 781.99.

Trading was moderate in the main market with Cable & Wireless trading 1.4 million units as it closed at 18 cents up 3 cents from the last price on Tuesday. Caribbean Cement scored another 52 weeks high as the stock hit $2.65 at the end of trading, a gain of 43 cents as 147,400 units traded. Carreras is holding around the $49 region as 23,931 units traded firm at $49.10, Grace Kennedy traded 40,255 units at $56.99, up 4 cents. National Commercial Bank traded 53 311 units at the closing price of $18.5, off a cent, Sagicor Life Jamaica had 93,000 units trading while losing 60 cents in closing at $8.40, Scotia Group 16,500 firm at $21.01. Scotia Investments traded 8,000 units and gained 14 cents to close at $26.15. However, the stock traded in Trinidad at the equivalent of $32.70, a huge differential. JMMB, which did not trade, is selling in Trinidad at $9 equivalent compared with $8 in Jamaica.

Junior market | General Accident with 1.87 million shares valued at $3.47 million was the big mover in the junior market as the stock traded firm at $1.85. The market was characterised by selling as 6 junior market stocks fell in price with none advancing. Blue Power Group traded 3,300 units at $9.20, slipping a cent from the last traded price on Tuesday. Caribbean Cream traded 99,207 units at $1.05, down 2 cents, Caribbean Producers traded firm at $2.03 with 162,100 shares, Jamaican Teas lost 40 cents on trading 977,993 units valued at $3.9 million, Lasco Distributors traded at $1.45 at the close down a cent with 92,000 shares, Lasco Financial Services closed at $1.50 off 2 cents while trading 28,272 units and Lasco Manufacturing closed at $1.60 with 57,000 units as the stock closed off a cent.

Eppley closed with a bid of $400 for 423 shares but has not traded since listing on July 29.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 6 stocks were higher with 1 stocks having offers lower than their last selling price.

Tuesday, 20th August 2013 | The market closed off today as stocks of 28 companies traded with a volume of 3.69 million valued at $20.57 million. There were 8 stocks advancing and 10 declining as all the indices gained moderately except for the junior market. The cross listed had no trades.

The All Jamaica Index gained 533.18 points and closed at 85,994.08 and the JSE Market Index increased by 303.03 to close at 85,676.88 the Junior Market closed down by 15.33 closing at 794.11.

Main market | Cable & Wireless traded 401,991 units firm at 15 cents, Carreras had 50,460 units changing hands at $49.10 valued at $2.478 million, Caribbean Cement accounted for 75,913 as the stock traded as high as $2.50 before it closed at $2.22, up 12 cents, Desnoes & Geddes traded 386,000 units valued at $1.74 million and lost 2 cents to close at $4.50, Grace Kennedy traded 6,050 units lost 4 cents to close at $56.95, Jamaica Money Market Brokers saw 577,150 units changing hands valued at $4.9 million and closed at $8 down 10 cents for the day. National Commercial Bank 29,696 shares traded with a closing price of $18.51, down 5 cents. Pan Jamaican Investment Trust had just 7,539 units trading firm at $51.10. Sagicor Life Jamaica Limited 7,720 saw trading at $9, which is down 50 cents from Monday’s traded price but the offer at the end of trading was $8.45 for 26,000 units. Scotia Group had one of the largest trades in monetary terms as 299,551 units changed hands at a closing price of $21.01 to cost $6.37 million, the stock traded firm.

Junior market | Trading picked up in the junior market on Tuesday with the Lasco companies picking up in volume as profit taking in the shares appears to be ending while demand is returning for them. Consolidated Bakeries traded 354,230 units, the most since June 28 and closed at $41.41, up a cent. Blue Power traded up to $9.60 but closed at $9.21, up 3 cents in trading 36,100 units. The company posted improved quarterly results yesterday and investors seemed to have been responding positively to them. Cargo Handlers closed at $13, up 38 cents in trading 3,000 units, Dolphin Cove lost 80 cents in late trading to close at $8.20 with only 1,200 shares trading. Lasco Distributors closed at $1.46 in trading  574,199 units, Lasco Financial Services traded 376,901 firm at $1.52, Lasco Manufacturing closed at $1.59, down a cent in trading  379,616 units.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 1 stock was higher with 2 stocks having offers lower than their last selling price. This is the weakest this signal has been since we started tracking and suggests a ‘sideways market’ at this time.

Related posts | Blue Power profit up 20%

Monday, 19th August 2013 | The market closed off today as stocks of 27 companies traded with a volume of 4.196 million units valued at $30.1 million. There were 11 stocks advancing and 8 declining as all the indices gained moderately except for a small fall in the US$ market. The cross listed index had no trades.

The all Jamaica Index gained 130.14 points and closed at 85,460.90 and the JSE market index increased by 73.96 to close at 85,373.85, the junior market gained 6.60 closing at 809.44.

Main Market trades of note | Cable & Wireless traded 530,000 units and slipped 2 cents to close at 15 cents. Other stocks with major changes on the day are Desnoes & Geddes with 52,837 units falling by 9 cents to close at $4.52, Grace Kennedy with 26,000 units valued at $1,481,300, gained 99 cents to $56.99, Jamaica Broilers Group, 66137 units to close at $5 up 2 cents, Jamaica Money Market Brokers having another heavy trade with 661,166 units valued at $5,324,306, closed at $8.10, Jamaica Producers Group 653,240 units at $18.25 up 73 cents with a value of $11,914,904, National Commercial Bank had only 9,000 at $18.55 up by 5 cents. Sagicor Life, 238,356 units valued at $2,118,414 to close at $9.50 up $1 and Scotia Group 16,428, closing at $21.10 up 2 cents. Carreras gained 60 cents as just 1,890 shares changed hands, the stock closed with a bid of $49.10 for 52,775 shares. Caribbean Cement Company traded at $2.10, a new 52 weeks high but with only 2,042 units trading and gaining 10 cents on the day.

Junior market | The junior market recovered from a lacklustre Friday when only 4 stocks traded, to a day in which 8 traded. Blue Power slipped by 42 cents to close at $9.18 with only 5,585 units trading. After the market closed, the company reported increased profit for the June quarter of $30 million compared to $25 million in the same period last year, an increase of 20%. Caribbean Producers traded 9,500 shares and dropped 7 cents, closing at $2.03. Consolidated Bakeries traded 69,160 shares and closed up 5 cents to $1.40. General Accident Insurance traded 35,000 shares firm at $1.85. Lasco Financial Services traded 146,909 shares, closed up 2 cents to $1.52. Lasco Manufacturing had trading in 401,924 shares and dropped 5 cents to $1.60.

Eppley shares have still not traded since listing and has one bid for 450 units at $350.

Proven Investment Preference shares traded 1,073,900 units valued at $5,466,151, while the ordinary shares which are quoted in US dollar traded 89,000 at a value of US$10,591. Yhe stock lost a fraction of a cent to close at US.1190 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 5 stocks were higher with 1 stock having an offer lower than their last traded price.