Bulls pushed stocks higher on Friday, with the all market indices moving to new record highs on the Jamaica Stock Exchange with 56 securities changing hands in the overall market ending with 25 stocks rising and 13 falling.
The market closed Friday, with 10 stocks gaining and 4 declining coming from the junior market as 6 securities ending at new 52 weeks’ closing highs.
The All Jamaica Composite Index rose 646.51 points to close at record 257,395.71, the JSE Market Index gained 578.09 points to finish at record close of 234,532.02 and the JSE combined index climbed 740.72 points, to close at new closing high of 249,735.10. The movement of the main market, for the year to date, resulted to gains of 22.5 percent, for the all Jamaica Composite Index, with the JSE Market Index up 22 percent. The moves in the indices are subject to change as the stock exchange daily postings indicate that there are errors in the reports since the new trading system was activated on Monday.
At the close, 23,308,737 units valued at $169,240,005 changed hands, compared to 13,502,301 units valued at $146,199,269 changing hands on Thursday. Of the stocks traded, the junior market accounted for 18,452,895 units valued at over $81,504,636.
The average trade for the day in the main market ended at 116,707 shares compared to an average of 200,657 units on Thursday. For the month to date, an average of 152,563 shares compared to an average of 188,419 units up to the prior trading day. January ended with an average of 592,602 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 12 stocks with bids higher than their last selling prices and none with lower offers.
In market activity, Berger Paints traded 9,118 shares at $12, Cable and Wireless gained 11 cents to close at $1.25 trading 594,541 units, Caribbean Cement closed at $33, gaining $1 with an exchange of 34,000 shares. Carreras traded 21,609 units, gaining 1 cent and closed at $67, investors pushed 1834 Investments higher by 26 cents to $2.12 with 44,419 shares trading, Grace Kennedy closed at $40.65, gaining 65 cents with trades of 83,470 units. Jamaica Broilers closed at $16.25 with an exchange of 76,657 shares, Jamaica Producers declined by $1 to close at $20 with 168,659 units changing hands, Jamaica Stock Exchange climbed to a 52 weeks’ closing high of $13.50, gaining $2.90 with 132,518 shares traded,
Jamaica Stock Exchange climbed to a 52 weeks’ closing high of $13.50.
One Caribbean Media closed at a 52 weeks’ low of $19.50, losing 40 cents trading 250 shares, Republic Financial Holdings closed at a 52 weeks’ low of $106.69, losing 5 cents with 206 units traded and Scotiabank exchanged 174 units, closing 5 cents lower to $58.70.
At the close, 13,502,301 units valued at $265,917,085 changed hands, compared to $146,199,269 units valued at $265,917,085 changing hands on Wednesday. Of the stocks traded, the junior market accounted for 7,916,160 units valued at over $42,290,565.
The average trade for the day in the main market ended at 355,210 shares compared to an average of 265,989 units on Tuesday. For the month to date, an average of 176,182 shares compared to an average of 188,966 units up to the prior trading day. January ended with an average of 592,602 units.
Stocks jump to new records in trading on Tuesday with the All Jamaica Composite Index blasting pass resistance around the 243,000 level in decisive fashion. The market should have a comfortable rise to 265,000 points mark, the next area of resistance. 
Kingston Properties exchanged 1,500 shares at $10, Kingston Wharves closed at $34, gaining $1 with trades of 4,050 units, Mayberry Investments exchanged 20,400 shares with gains of 5 cents to close at $5.90, National Commercial Bank declined $2.70 in closing at $62.20, after swapping 22,435 shares. 138 Student Living traded 10,765 units at $4.50, Pan Jamaican gained $3 to close at $34 with 12,850 shares traded, Portland JSX closed at $10 after trading 500 units, Pulse Investments closed at $7.09 with 10,000 units changing hands. Radio Jamaica gained 20 cents, closing at $1.50 with 154,800 shares changing hands, Sagicor Group traded 20,442 units at $31, Sagicor Real Estate fund gained 3 cents and closed at $10.23 with an exchange of 907 units, Salada rose $1.25 in trading 20,000 shares at $9.25. Scotia Group ended trading with gains of $1.01 to close at $46, having traded 88,515 shares, Scotia Investments gained 43 cents, after trading 7,135 units and closed at a 52 weeks’ high of $35.50, Sterling added 5 cents to close at $15.65 with trades of 500 units. Supreme Ventures closed at $5.70, for a gain of 15 cents with 66,814 shares traded, JMMB 7.25 closed at $1.50, with 430 units exchanged and JMMB Group 7.5% preference share traded 2,650 units at $1.10.
The company enjoyed increased sales of 11.6 percent, hitting $206 million and resulting in gross profit growing by 11.3 percent compared with the corresponding period last year. As gross profit margin fell slightly to 45.4 percent compared with 45.54 in 2013 and administrative and distribution costs rose by 17.4 percent, profit also declined, falling 17 percent for the quarter to $16.5 million or 17 cents per share. “This reduction was mainly due to increased distribution cost resulting from the takeover of a large contract distributor to maintain our customer service and the lease of vehicles due to accidents of two of our main distribution vehicles. Improvements in this area will be seen in the next quarter. Further, one time cost was incurred during this period as the building on the property acquired was demolished,” management reported, in a statement accompanying the financials.