The Jamaica Stock Exchange main market enjoyed strong gains in the indices in early Friday morning trading but with only limited volume changing hands in the overall markets. The junior market index slipped a bit with only a few securities trading in that market.
Trading of note so far took place for 106,580 Cable & Wireless shares with 181,615 shares in 1834 Investments changing hands while 59,745 shares of Grace Kennedy traded and JMMB Group had 275,597 units trading at $9.88 in the main market and in the junior market the stocks with the leading volumes traded are C2W Music with 40,000 units and Eppley Preference Shares 2019 had 50,000 units changing hands.
At 10:45 am 22 securities traded, resulting in a volume of 861,119 shares carrying a value of $8,593,129 changing hands compared to 5,070,164 shares carrying a value of $14,465,644 on Thursday. The average number of shares traded amounts to 39,142 units compared to 211,257 units on Thursday. The number of stocks falling are 10 while the prices of 8 securities rose as the market continues to consolidate.
The all Jamaica Composite Index jumped 947.08 points to 178,531.20, the Jamaica Stock Exchange Market Index gained 846.86 points to 160,680.41, the Jamaica Stock Exchange combined index climbed 680.28 points to close at 172,524.29 and the junior market index slipped 10.25 points to 2,288.60.
JSE main market climbs in early trading
19 JSE stocks rise on Thursday
Palace closed at a new high of $170 on Thursday.
The junior market accounted for 1,832,518 units valued at $9,192,820 of the total traded on Thursday.
At the close of trading, the JSE Market Index climbed 527.63 points to end at 159,833.55. The all Jamaica Composite Index rose 590.07 points to close at 177,584.12 and the JSE combined index jumped 1,217.16 points, to end at 171,844.01.
At the close of the market prices of 19 securities gained out of a total of 39 that traded, with 8 declining in the overall market, including 12 stocks rising and 3 falling, in the junior market.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 6 with lower offers, suggesting continued fluidity in price movements ahead.
In market activity, Cable & Wireless dominated trading with 3,903,944 shares changing hands and closed with a loss of 5 cents at 94 cents, Carreras traded 10,987 shares and gained 3 cents to close at $66.47, Grace Kennedy ended at $42.99, with 5,640 shares changing hands. Jamaica Broilers had 4,580 shares changing hands, to end with a gain of 5 cents at $14.60. Jamaica Producers ended at $8.50 with 450 units trading, Jamaica Stock Exchange lost 60 cents with 80,279 units changing hands, to end at $27.40 after trading as high as $28.50.
JMMB Group traded 19,900 units and rose by 5 cents to $9.95. Kingston Wharves dropped $1.45 in trading 5,261 shares to close at $16.10, Mayberry Investments gained 20 cents ended with 3,570 shares trading to close at $3.50, National Commercial Bank had 15,840 units changing hands to close at $40, Palace Amusement traded 500 units and rose $5 to end at a 52 weeks’ high of $170. Pan Jamaican Investments fell 19 cents and closed at $24.30 after trading 2,950 shares, Portland JSX traded 27,200 units at $11, Sagicor Group traded 1,820 shares while rising 30 cents to close at $22.50, Scotia Group gained 50 cents to close at $31 with 22,700 shares changing hands. Supreme Ventures had 879,445 units changing hands and fell 9 cents to $4.75 and Proven Investments traded 20,849 units to close at 19.87 US cents after slipping 0.13 cent.
14 JSE’s stocks rise 7 fall – Wednesday
NCB traded as low as $36.10 on Wednesday but ended back at $40..
Jamaican stocks again saw more prices rising than falling but the market indices incurred losses nevertheless at the end of trading on Wednesday. Unlike the previous two days with extremely low volumes trading levels climbed sharply by the close of the market with 5,711,945 units valued at $60,243,332, well up from the 2,652,003 units valued at $16,996,985 changing hands on Tuesday’s with, the junior market accounting for 1,483,909 units valued at $6,870,963.
At the close of trading, the JSE Market Index dropped 849.63 points to end at 159,305.92. The all Jamaica Composite Index dived 950.18 points to close at 176,994.05 and the JSE combined index sank 833.28 points, to end at 170,626.85.
At the close of the market prices of 14 securities gained out of a total of 36 that traded, with 7 declining in the overall market, including 7 stocks rising and 4 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, 
the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 6 with lower offers, suggesting continued fluidity in price movements ahead.
In market activity, Berger Paints traded 10,741 shares at $5, Cable & Wireless traded 822,600 shares and closed with a loss of 1 cent at 99 cents, Carreras traded 1,570 shares to close at $66.44. Trading in in shares of 1834 Investments resulted in 197,265 units changing hands to end at $1.25, Grace Kennedy jumped 99 cents to end at $42.99, with 23,328 shares changing hands, Jamaica Broilers had 13,650 shares changing hands, to end with a fall of 5 cents at $14.55. Jamaica Producers ended at $8.50 with 300,150 units trading, Jamaica Stock Exchange gained 18 cents with 160,144 units changing hands, to end at a 52 weeks’ closing high of $28 as investors continue to react positively to the announcement of a likely stock splitJMMB Group traded 1,009,454 units at $9.90.
Margaritaville Turks traded 6,540 shares to close at 21 US cents, Mayberry Investments ended with 502,200 shares trading to close at $3.30, National Commercial Bank had 531,488 units changing hands to close at $40, the stock traded as low as $36.10 during the day but with small volumes. Pan Jamaican Investments fell 1 cent and closed at $24.99 after trading 11,495 shares, Sagicor Real Estate Fund traded 35,080 shares to close at $10.20, Scotia Group added 40 cents to close at $30.50 with 7,320 shares changing hands. Scotia Investments had 2,064 units changing hands at $26, Proven Investments traded 389,000 units to close at 19.90 US cents after rising 0.90 cent and JMMB Group 7.50% rose 2 cents in trading 193,871 units at $1.10. [Read more…]
JSE stocks rise again – Tuesday
JSE stock jumped to $29.50 during trading.
At the close of trading, the JSE Market Index rose 231.36 points to end at 160,155.55. The all Jamaica Composite Index gained 258.74 points to close at 177,944.23 and the JSE combined index climbed 596.35 points, to end at 171,460.13.
At the close of the market prices of 14 securities gained out of a total of 36 that traded, with 12 declining in the overall market, including 7 stocks rising and 5 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 9 stocks with bids higher than their last selling prices and 4 with lower offers, suggesting continued fluidity in price movements ahead.In market activity, Berger Paints traded 109,400 shares at $5, Cable & Wireless traded 644,622 shares and closed at $1, Caribbean Cement traded 20,120 shares to end at $25.50, Carreras traded 6,907 shares and fell 6 cents to close at $66.44. Grace Kennedy dropped $1 to end at $42, with 38,441 shares changing hands. Jamaica Broilers had 5,400 shares changing hands, to end with a gain of 8 cents at $14.60, Jamaica Producers ended at $8.50 with 9,360 units trading, after rising by 10 cents, Jamaica Stock Exchange gained 42 cents with 28,280 units changing hands, to a 52 weeks’ closing high of $27.82. The stock traded at new all-time high during the morning session at $29.50, as investors continue to react positively to the announcement of a likely stock split,
JMMB Group traded 300 units at $9.90. Kingston Wharves traded 29,130 shares and rose 5 cents, to close at $17.55, Margaritaville Turks traded 2,710 shares to close at 21 US cents, National Commercial Bank had 19,809 units changing hands and fell 50 cents, to close at $40, Pan Jamaican Investments climbed 50 cents and closed at $24.50 after trading 7,218 shares. Radio Jamaica lost 2 cents to close at $1.48 with 33,698 shares trading, Sagicor Group lost 20 cents with 100,116 shares changing hands at $22.20, Sagicor Real Estate Fund traded 42,100 shares and rose 5 cents to close at $10.20. Scotia Group added 40 cents to close at $30.10 with 31,800 shares changing hands. Scotia Investments had 4,988 units changing hands at $26, Seprod traded 6,500 units to close at $20.50 and Jamaica Money Market Brokers 7.50% lost 1 cent in trading 108,741 units at $2.09.
More gains ahead for BUY RATED stocks
Image courtesy of suphakit73/FreeDigitalPhotos.net
The Jamaican market has seen strong reaction by investors on the announcement of stock splits with the price of each company stock climbing. IC Insider added Seprod to the list while lifting the watch on Sagicor Group, thus restoring a BUY RATED status on it. There are no other changes to the list.
AMG Packaging is IC Insider’s top junior market stock for growth in the next 12 months.
Caribbean Flavours price lost flight earlier this year, but with reported audited earnings of $0.82 per share, the price is rebounding. Caribbean Producers suffered from competitive pressures in the Jamaican market and wrote down inventory but should see some reversal of that pressure in the New Year.
However, it does not have a high ranking on the BUY RATED list at this time. Dolphin Cove is up 34 percent since its recent elevation to the BUY RATED list and should trend higher. ISP Finance, a recent addition, gained 140 percent since listing. The company is in the process of raising funds through a bond issue, which will provide funding for an expanded loan portfolio. The stock is very scarce, but 2017 could be a big year for the company and the stock.
Investors are ignoring the robust profit performance of Jetcon Corporation but may regret it as the price is likely to grow strongly. Profits have climbed nearly 100 percent over 2015 to June,
Barita is the top IC Insider’s stock for growth over the next 12 months in the main market.
In the main Jamaica stock market, Caribbean Cement remains undervalued and is poised for a big price rise as the company increases revenues from a growing economy and reduce cost. Many investors keep focusing only on the reported earnings, but these include one off cost that should be taken out in assessing earnings and value.
Better yet, come 2017 the one off costs won’t be there, importantly, not only will the cost relating to staff separation not be there but the ongoing cost for staffing will be reduced by amounts that approximate redundancy cost. GraceKennedy is benefiting from an improving economy locally and overseas and should see more gains ahead in profits and the stock price.IC Insider sees JMMB Group as highly undervalued with decent profit results for the current fiscal year and could surprise to the upside. Barita Investments is having a better 2016 than 2015 and has a big pool of unrealised investment gains on its balance sheet that can be released to profit at any time. The stock seems poised for more growth in the years ahead. Jamaica Stock Exchange’s stock could trend higher with the expectation of a stock split, the price may be getting a bit rich for much short term gains.
IC Insider considers the future to be bright for the stock, as trading activities rise in future years, consequent on growth in the local economy and further declines in interest rates that are bound to drive more money into the market seeking decent return. National Commercial Bank is on target to earn around $6 per share in 2016 while Scotia Group’s results to July showed strong growth in the second quarter over 2015, suggesting that increased profits are once more on the table for this entity. Investors should consider that the year end for these two entities is September and October as such very early in 2017 fresh results will be out before even some of companies with 2016 December year end, release their final numbers for this year. Seprod is engaged in cutting cost in various areas and with growth in the economy, the company is in a good position to do well for investors.
The Trinidad market remains a tough one with the price of oil under pressure. Trinidad Cement seems the only compelling buy, but pressure in the construction sector will be seen as negative for the company. [Read more…]
JSE stocks rise – Monday
Sterling Investments closed at a new high on Monday
Price movement on the Jamaica Stock Exchange mostly rose on Monday pulling the market indices along with it. Trading levels fell sharply with just 2,234,793 units valued at $29,276,443 well off from the 7,432,213 units valued at $206,556,569 changing hands on Friday’s. The junior market accounted for 1,236,624 units valued at $8,459,914 on Monday.
At the close of trading, the JSE Market Index rose 127.23 points to end at 159,924.19. The all Jamaica Composite Index gained by 142.29 points to close at 177,685.49 and the JSE combined index climbed 305.41 points, to end at 170,863.78.
At the close of the market prices of 15 securities gained out of a total of 36 that traded, with 9 declining in the overall market, including 8 stocks rising and 1 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 10 stocks with bids higher than their last selling prices and 7 with lower offers, suggesting continued fluidity in price movements ahead.In market activity, Cable & Wireless traded 179,535 shares and closed 3 cents down to $1, Caribbean Cement traded 1,500 shares but fell back 99 cents to close at $25.50, Carreras traded 1,593 shares and jumped by $1.99 to close at $66.50. Grace Kennedy dropped 60 cents to end at $43, with 17,684 shares changing hands. Jamaica Broilers had 40,850 shares changing hands, to end with a fall of 38 cents at $14.52. Jamaica Producers ended at $8.40 with 19,850 units trading, Jamaica Stock Exchange closed with 87,620 units changing hands to close at $27.40, after trading at new all-time high during the morning session at $28. Investors have been reacting positively to the announcement of a meeting later in September to consider a stock split and driving the
JSE stock up from $21.50 before the announcement. JMMB Group fell 10 cents in trading 2,896 units at $9.90.Kingston Wharves traded 66,886 shares, to close at $17.50, Margaritaville Turks traded 348,738 shares to close at 21 US cents, after trading earlier at an intraday high of 23.95 US cents, Mayberry Investments ended with 28,812 shares trading, to close with a gain of 2 cents at $3.30.
National Commercial Bank had 14,983 units changing hands and gained 50 cents to close at $40.50, Pan Jamaican Investments dipped 50 cents and closed at $24, after trading 6,975 shares, Sagicor Group rose 39 cents with 8,426 shares changing hands at $22.40, Scotia Group dropped $1.69 to close at $29.70 with 9,201 shares changing hands. Scotia Investments had 10,826 units changing hands at $26, Seprod climbed $1, in trading 88,000 units to close at $20.50, Sterling Investments closed at a new high of $14.15 while trading 4,000 shares, with a rise of $1.15, Supreme Ventures ended with 4,000 units changing hands at $4.81 and Proven Investments gained 1 US cent, to close at 19.90 US cents.
JSE down but 20 stocks up – Friday
JSE traded at a new high on Friday after jumping $3.30 to $27.40.
At the close of trading, the JSE Market Index dropped 510.77 points to end at 159,796.96. The all Jamaica Composite Index declined by 571.22 points to close at 177,543.20 and the JSE combined index dropped 516.18 points, to end at 170,558.37.
At the close of the market prices of 20 securities gained out of a total of 42 that traded, with 11 declining in the overall market, including 7 stocks rising and 3 falling, in the junior market.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 12 stocks with bids higher than their last selling prices and 7 with lower offers, suggesting continued fluidity in price movements ahead on Monday.
In market activity, Cable & Wireless traded just 413,340 shares and closed 3 cents down to $1.03, Caribbean Cement traded 5,000 shares and rose 99 cents to close at $26.49, Carreras traded 1,049,855 shares and dropped by $1 to close at $64.51. Trading in 1834 Investments shares resulted in 75,134 units changing hands as the price rose 5 cents to $1.25, Grace Kennedy gained 10 cents to end at $43.60, with 51,683 shares changing hands. Jamaica Broilers had 13,000 shares changing hands, to end with a rise of 25 cents at $14.90. Jamaica Producers gained 5 cents to end at $8.40 with 2,500 units trading, Jamaica Stock Exchange jumped $3.30 with 4,608 units changing hands to close at a new all-time high of $27.40, following the announcement of a meeting later in September to consider a stock split. JMMB Group traded 7,900 units at $10. Kingston Wharves traded 67,521 shares to close at $17.50,after rising by 49 cents,
Margaritaville Turks traded 360,272 shares to close at 21 US cents after rising by a cent, Mayberry Investments ended with 23,766 shares trading, to close at $3.28, National Commercial Bank had 153,550 units changing hands but dropped 50 cents to close at $40. Pan Jamaican Investments jumped $1 and closed at $24.50, after trading 12,219 shares, Portland JSX traded 59,400 shares to close at $11, Pulse Investments traded 8,000 shares with a fall of 55 cents to close at $3.20, Sagicor Group fell by just 1 cent with 86,390 shares changing hands at $22.01. Scotia Group jumped $1.39 to close at $31.39 with 3,555,100 shares changing hands, Seprod dropped $1.50 in trading 23,200 units to close at $19.50, Supreme Ventures lost 17 cents with 21,636 units changing hands at $4.81 and JMMB Group 7.5% preference share traded 24,333 units to close at $2.10.
Falling TTSE’s stocks beat risers – Friday
Trading activity on the Trinidad and Tobago stock market closed Thursday with marginal fall in the two main indices. The volume traded remained subdued with just over 100,000 units changing hands. At the close 13 securities changed hands, 2 of which rose, 5 declined and 6 remained unchanged.
Market activity ended with 158,085 shares valued at $2,244,588 changing hands, up from the $1,289,094 traded on Thursday. The Composite Index fell 1.44 points to close at 1,157.94, the All T&T Index declined 0.65 points to close at 1,821.62 and the Cross Listed Index ended 0.30 points lower at 65.80.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 7 stocks with bids higher than their last selling prices and 5 with offers that were lower.
Gains| Grace Kennedy contributed 1,000 shares to close at a 52 weeks’ high of $2.56 after rising 1 cent and Scotiabank closed with 890 shares changing hands and gained 2 cents to end at $57.53.
Losses| Clico Investment Fund closed with 2,237 shares changing hands to end at 15 cents lower at $22.51, JMMB Group fell 2 cents with 50.000 shares changing hands at 62 cents, Massy Holdings closed with 18,545 shares, valued at $1,022,765 changing hands with a fall of 45 cents to close at $55.05.
One Caribbean Media traded 200 shares to end with a loss of 5 cents at a 52 weeks’ low of $20.75, Sagicor Financial Corporation fell 25 cents to close with 46,021 shares changing hands at $6.50 and Trinidad Cement fell by 1 cent and closed at $3.04 with 6,100 shares changing hands.
Firm Trades| Angostura Holdings ended with 27 shares changing hands to close at $14, First Citizens traded 3,080 units at $35, National Enterprises closed with just 7 shares changing hands at $10.49. Scotia Investments traded 1,350 shares at $1.72 and West Indian Tobacco with 85 shares changing hands at $126.32.
JSE closes slightly down on Thursday
The JSE stock jumped $2.60 after news broke that a stock split is to be considered by the directors in September.
At the close of trading, the JSE Market Index fell 79.84 points to end at 160,307.73. The all Jamaica Composite Index declined 89.28 points to close at 178,114.42 and the JSE combined index dropped 442.66 points, to end at 171,074.55.
At the close of the market prices of 11 securities gained out of a total of 39 that traded, with 18 declining in the overall market, including only 1 stock rising and 8 falling, in the junior market.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 14 stocks with bids higher than their last selling prices and 4 with lower offers.
In market activity, Cable & Wireless traded just 7,254 shares and closed 4 cents down to $1.06, Caribbean Cement traded 26,011 shares to fall 99 cents and closed at $25.50, Carreras traded 113,782 shares and inched higher by 1 cent to close at $65.51. Trading in 1834 Investments shares resulted in 152,042 units trading with a fall of 10 cents to $1.20, Grace Kennedy lost 5 cents to end at $43.50, with 233,174 shares changing hands. Jamaica Broilers had 8,880 shares changing hands, to end with a rise of 13 cents at $14.65. Jamaica Producers fell 15 cents to end at $8.35 with 574,462 units trading, Jamaica Stock Exchange jumped $2.34 with 38,341 units changing hands to close at $24.10, following the announcement of a meeting later in September to consider a stock split. JMMB Group traded 1,900 units at $10.
Kingston Wharves traded 97,624 shares to close at $17.01, Margaritaville Turks traded 237,000 shares to close at 20 US cents after falling by a cent, Mayberry Investments ended with 10,500 shares trading to close at $3.28, National Commercial Bank had 35,171 units changing hands but gained 1 cent to close at $40.50. Pan Jamaican Investments closed at $23.50, after trading 5,600 shares, Radio Jamaica lost 10 cents in trading 135,591 shares, to end at $1.50, Sagicor Group fell by 28 cents with 172,060 shares changing hands at $22.02, Sagicor Real Estate Fund rose 5 cents in trading 14,140 shares, to close at $10.20. Scotia Group lost 40 cents to close at $30 with 2,695,006 shares changing hands, Seprod climbed $1 in trading 2,300 units to close at $21, Supreme Ventures gained 18 cents with 24,950 units changing hands at $4.98 and JMMB Group 6% preference share traded 10,000 units to close at US$1.10 after rising 1 cent.
JSE closes higher in August
Price movement on the Jamaica Stock Exchange picked on Wednesday with the all Jamaica Composite Index climbing more than 800 points over the close on Tuesday and 632.54 points more than at the end of July. A total of 2,531,618 units valued at $31,698,751, up from $27,344,934 on Tuesday, changed hands. Of the stocks trading in all market segments, the junior market accounted for 1,201,093 units valued at $5,410,798.
After trading closed, Jamaica Stock Exchange advised that the Board of Directors will be considering a stock split at a board meeting scheduled to be held on Wednesday, September 21, 2016.
At the close of trading, the JSE Market Index climbed 757.91 points to end at 160,387.57. The 
all Jamaica Composite Index rose 847.60 points to close at 178,203.70 and the JSE combined index moved up 870.87 points, to end at 171,517.24 as the junior market gained strongly, thus negating some of the main market fall.
At the close of the market prices of 18 securities gained out of a total of 41 that traded, with 10 declining in the overall market, including 9 stocks rising and 4 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 18 stocks with bids higher than their last selling prices and 3 with lower offers. The strong reading of the IC indicator is not a good indicator for Thursday trading activities as it comes at the end of the month when portfolio managers intervene in the market in support of the portfolios they manage.
In market activity, Cable & Wireless traded just 56,300 shares and closed 5 cents higher at $1.10, Caribbean Cement traded only 1,473 shares to climb 89 cents and closed at $26.49, Carreras traded 61,417 shares but fell 50 cents to close at $65.50, Grace Kennedy lost 15 cents to end at $43.55, with 17,228 shares changing hands. Jamaica Broilers had 111,972 shares changing hands, to end with a loss of 8 cents at $14.52. Jamaica Producers fell 30 cents to end at $8.50 with 115,980 units trading, 
Jamaica Stock Exchange ended with 18,034 units changing hands to close at $21.50, the announcement of a stock split could change investors’ perception of the stock when trading resumes on Thursday. JMMB Group traded 29,547 units at $10. Kingston Wharves traded 30,629 shares to close at $17.01, Margaritaville Turks traded 300,000 shares to close at 21 US cents after rising by a cent, Mayberry Investments ended with 15,041 shares trading to close at $3.28,National Commercial Bank had 149,200 units changing hands but fell 51 cents to close at $40.49. Pan Jamaican Investments rose 40 cents to close at $23.50, after trading 1,078 shares, Portland JSX traded 24,571 units at $11, Radio Jamaica rose 5 cents in trading 9,388 shares, to end at $1.60, Sagicor Group gained 30 cents with 87,131 shares changing hands at $22.30, Sagicor Real Estate Fund rose 15 cents in trading 37,693 shares, to close at $10.15. Scotia Group gained 40 cents to close at $30.40 with 4,000 shares changing hands, Supreme Ventures gained 9 cents with 42,500 units changing hands at $4.80 and Jamaica Money Market Brokers 7.50% preference share traded 212,967 units to close at $2.10.