Indies gains 167% since Junior Market IPO

Newly listed Junior Market stock, Indies Pharma jumped to a record $4 on Thursday, in recording gains of 167 percent since the IPO issue in July, at $1.50 per share.
The stock seems to have benefited from information from the company indicating the likely acquisitions and new products to come to market. Additionally, a look at the order book indicates very few stocks being offered for sale. Blue Power and Medical Disposables are two stocks that have benefited from good results recently to help push them to record closing highs on Thursday but AMG Packaging closed at a 52 weeks’ low.
The Junior Market having retreated for two consecutive days recorded gains at the close of trading on Thursday, with the market index rising 8.83 points to close at 3,365.20, as it pulled back from 3,388.43 high reached in the morning session.
Trading resulted in 25 securities, the same number that changed hands on Wednesday, leading to 11 advancing, 7 declining and 7 remaining unchanged, as investors exchanged 2,749,388 units valued at $12,888,595, compared to 3,271,099 units valued at $12,971,060 on Wednesday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 109,976 units for an average of $515,544 in contrast to 130,844 units for an average of $518,842 on Wednesday. Trading for the month to date averages 732,567 units for an average of $4,441,049 and on the prior trading day, an average of 806,685 units for an average of $4,908,371. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed with a gain of $2.50 to close at $50, with an exchange of 250 shares, AMG Packaging ended with a loss of 1 cent at a 52 weeks’ low of $1.89, with 5,662 stock units, Blue Power concluded trading of 24,100 units and gained 50 cents to end at a 52 week’s high of $6.50, Cargo Handlers settled at $13, trading 5,187 shares, Caribbean Producers finished trading 1,143,307 units at $6. Consolidated Bakeries closed with a loss of 5 cents at $2.45, with 100 shares changing hands, Derrimon Trading ended at $3, while exchanging 566,924 shares, Dolphin Cove concluded trading 240 shares at $17, Elite Diagnostic finished trading of 141,028 stock units and rose 6 cents to $3.50. Everything Fresh dropped 34 cents in trading 69,825 shares to end at $2.10, Express Catering closed at $8.18, with 70,042 shares changing hands, FosRich Group traded with a loss of 5 cents at $3, exchanging 7,670 shares, Honey Bun ended 5 cents higher at $4.05, with the swapping of 24,500 units, Iron Rock concluded trading at $3.50, with 32,151 shares changing hands. Indies Pharma gained 35 cents with 235,244 shares changing hands to end at a record close of $4, Jamaican Teas jumped 45 cents to $4.65, with 120,000 shares trading, Jetcon Corporation ended trading 6,879 stock units and rose 5 cents to $4, Key Insurance traded 67 cents higher at $3.75, with the trading of just 900 units, Lasco Distributors ended with a loss of 23 cents at $3.77, trading 15,700 shares. Lasco Financial concluded trading with a loss of 45 cents at $5.45, with 58,922 stock units changing hands, Lasco Manufacturing closed with a loss of 9 cents at $3.90, in exchanging 94,100 units, Main Event settled 2 cents higher at $6, with 16,494 shares traded, Medical Disposables ended trading a mere 300 shares and gained $1.25 to a new high of $7.95 and Stationery and Office finished trading 29,363 stock units and rose 1 cent to $9.
Prices of securities trading for the day are those at which the last trade took place.

More retreating for Junior Market

The Junior Market retreated from the record close when trading resumed on Tuesday, with the market index declining by 12.75 points to close at 3,356.37, back below the previous high of 2017.
Trading resulted in 25 securities, the same number that changed hands on Monday, leading to 12 advancing, 5 declining and 8 remaining unchanged.
Indies Pharma was the only security that closed at record high on Wednesday as investors exchanged 3,271,099 units valued at $12,971,060 in the overall market, compared to 2,700,219 units valued at $10,803,399 on Tuesday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 7 stocks ending with bids higher than their last selling prices, 2 closed with lower offers.
Trading closed with an average of 130,844 units for an average of $518,842 in contrast to 108,009 units for an average of $432,136 on Tuesday. Trading for the month to date averages 806,685 units for an average of $4,908,371 and on the prior trading day, an average of 898,015 units for an average of $5,501,550. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed $1.50 higher at $47.50, in exchanging 1,019 shares, Blue Power concluded trading of 32,929 units, 25 cents higher at $6, CAC 2000 finished of 7,000 shares at $9, Caribbean Flavours traded just 164 stock units, with a loss of 57 cents to $19.30, Caribbean Producers closed at $6, after exchanging 107,764 units. Consolidated Bakeries closed 5 cents higher at $2.50, with 100,000 shares changing hands, Derrimon Trading ended at $3, with an exchange of 815,062 shares, Elite Diagnostic finished 28 cents higher at $3.44, with 33,983 stock units trading, Everything Fresh gained 1 cent in trading 52,166 shares to end at $2.44, Express Catering ended trading at $8.18, with 160,774 shares changing hands. FosRich Group traded 15 cents higher at $3.05, with an exchange 127,726 shares, General Accident closed 15 cents higher at $4.40, trading 22,360 shares, Honey Bun ended 10 cents higher at $4, with 39,029 units, Indies Pharma gained 5 cents with 958,728 shares changing hands to end at a record close of $3.65, Iron Rock concluded trading 30 cents higher at $3.50, with an exchange of 106,550 shares. Jetcon Corporation ended trading 300 stock units at $3.95, Knutsford Express closed at $11.50, in the swapping of 800 shares, Lasco Distributors ended with a loss of 5 cents at $4, with 363,914 shares changing hands, Lasco Financial concluded trading 13 cents higher at $5.90, after 110,176 stock units traded. Lasco Manufacturing finished with a loss of 2 cents at $3.99, with 36,000 units, Main Event settled with a loss of 4 cents at $5.98, trading 134,500 shares, Medical Disposables ended trading at $6.70, with 6,500 shares, Paramount Trading ended with a loss of 15 cents at $2.60, with 33,655 shares changing hands and Stationery and Office finished trading 29 cents higher at $8.99, with 10,000 stock units. In the Junior Market preference segment, Eppley 9.5% finished at $6, with 10,000 shares trading.
Prices of securities trading for the day are those at which the last trade took place.

JSE trading at new record of 335,379 points

The Jamaica Stock Exchange main market is currently trading in record territory with the all Jamaica Composite index having surpassed the 334,000 mark around mid day, moved to more than 335,000 points just ahead of the close.
The market having surpassed the 334,000 points for the first time around midday, moved even higher to trade at level 335,379.45 points with 15 minutes to go before the close with a rise of 5,429.21 points.
The All Jamaica Composite Index rose 4,212.92 points to 334,155.76 points just after midday while the JSE index rose to 3,838,45 points to 304,460.03 points, Scotia Group trading at $52.99 and JMMB Group at $28 were the two major contributors to the market rise. Wisynco Group trades at $9.80 and accounted for the largest block of shares with 5.356 million units of the stock traded.The AJI ended at a record closing high of 332,501.11 points on May 4, this year.
The Junior Market at the same time plunged 64.06 to 2,947.20.Iron Rock traded 4.24 million units in the Junior Market and Blue Power traded 538,182 units with the price falling to $28 from $the last traded price of $37.

Grace & FosRich in TOP 10 stocks

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Grace Kennedy is in TOP 10

Out go Palace Amusement and Lasco Financial, in comes Grace Kennedy and FosRich Group into the TOP 10 listings this week.
Lasco Financial climbed to $5.65 at the end of last week while the bid on Palace climbed to $1,000 thus leaving room for Grace Kennedy and FosRich that fell to $2.35, to enter, in a week that saw the main market trading in record territory and the Junior Market recording gains in the index for the week.
The next two weeks should set the tone for the market in the medium term as most companies will be releasing results for the March quarter. Based on early releases, only a handful of results have positive effect on prices. The latest results from Supreme Ventures with a 49 percent rise in the first quarter profit seems set to push the price higher.
Investors responded positively to Berger Paints prospects, with active supply below $20 per share having declined sharply, leaving the price to close the week at $19.
Buying continued for Barita Investments with the price hitting $10 during the week. JMMB Group pulled back by the end of the week to $26.98 from $28.32, as the block out period for insiders to trade in the stock is in place until full year results are out. Resistance for the stock price is just over $31 an area investors should be on the lookout for, in the short run. Caribbean Cement first quarter profit was slightly down on last year, but the company is set to do better in the June quarter with the buyout of the expensive lease of equipment and prospects of lower operating cost, with the major repairs behind them and increasing demand for cement likely, ahead of the 6 percent growth in the first quarter. The stock may remain around current price levels for a while. Iron Rock reported vastly improved results for first quarter and appears to be on the way to their first profit since listing. The stock climbed to $3.50, following release of the results.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.1 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE is 7.2 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 43 percent to the market.

Junior Market volume slides – Monday

The market closed on Monday with 23 securities changing hands, up from 21 on Friday, resulting in an exchange of 1,526,211 units valued at $4,615,508, compared to 5,241,602 units valued at $19,221,963, on Friday.
The Junior Market index fell 11.94 points to close at 2,916.34 as the prices of 8 securities advanced, 9 declined and 6 remained unchanged.
Trading ended with an average of 66,357 units for an average of $200,674 compared to an average of 249,600 units for an average of $915,332 on Friday. An average of 274,310 units at an average value of $1,538,475 traded, and previously 288,936 units at an average value of $1,632,571. In contrast, January closed with an average of 122,386 shares, valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with the bid higher than the last selling price and 3 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 1 cent at $2.44, with 3,500 stock units, Caribbean Cream ended trading with a loss of $1.32to $6.20, with 7,900 shares, Caribbean Flavours traded 1 cent higher at $10.90, with 9,725 stock units, Caribbean Producers finished trading with a loss of 40 cents at $4, with 12,490 units, Consolidated Bakeries closed 12 cents higher at $1.90, with 8,059 shares. Derrimon Trading concluded trading with a loss of 15 cents at $7, with 1,707 shares, Elite Diagnostic settled with a loss of 23 cents at $2.67, with 1,231,455 units, Express Catering traded with a loss of 40 cents at $4.30, with 17,778 shares, FosRich Group finished trading at $2.70, with 103,300 shares. General Accident closed at $2.80, with 6,012 stock units, GWest Corporation ended 10 cents higher at $2.60, with 12,653 units, Honey Bun concluded trading 2 cents higher at $5.15, with 500 shares, Iron Rock finished at $3, with 10,000 shares. ISP Finance settled $1.05 higher at $11.05, with 2,500 shares, Jamaican Teas ended trading with a loss of 3 cents at $4.75, with 12,045 stock units, Jetcon Corporation traded at $4.60, with 11,050 units, Knutsford Express ended at $15, with 1,627 shares. Lasco Distributors concluded trading 3 cents higher at $4.40, with 19,647 stock units, Lasco Financial finished with a loss of 15 cents at $4.85, with 24,372 units, Lasco Manufacturing settled at $4.43, with 6,000 shares, Main Event ended trading 3 cents higher at $6.03, with 3,000 shares, Stationery and Office closed 2 cents higher at $5.02, with 18,059 units and tTech concluded trading with a loss of 40 cents at $5, with 2,832 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior stocks falter again

Trading on the Junior Market of the Jamaica Stock Exchange traded on Thursday with 18 securities changing hands, resulting in an exchange of just 538,080 units valued at $2,509,546 compared to 2,043,273 units valued at $10,429,058 on Wednesday.
At the close of market activities, the prices of 4 securities advanced, 7 declined and 7 remained with prices unchanged leading to the Junior Market Index declining by 22.92 points to close at 2,959.40.
Trading ended with an average of 29,893 units for an average of $139,419 in contrast to 97,299 units for an average of $496,622 on Wednesday. The average volume and value for the month to date amounts to 117,485 units valued at $ $541,898 and 122,095 units at an average of $563,081, previously. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded.
Trading ended with the market sentiments looking mixed for Friday’s trading as 4 stocks ended with bids higher than their last selling prices and 5 with lower offers.
At the close of the market the volume of stocks units changing hands and their last traded price are: Caribbean Cream finishing with a loss of 20 cents at $5.90, with 24,714 stock units, Caribbean Producers trading with a loss of 15 cents at $3.60, with 104,000 shares, Dolphin Cove ended at $17, with 1,000 units changing hands. Elsewhere, Express Catering ended with a loss of 8 cents at $4.42, with 69,009 stock units, General Accident traded at $2.60, with 5,607 shares, Honey Bun finished 10 cents higher at $4.30, with 5,723 units, Jamaican Teas finished 22 cents higher at $4, with 48,600 shares, Jetcon Corporation ended trading at $4.50, with 2,500 shares. Key Insurance settled at $4.25, with 200 stock units, Knutsford Express settled with a loss of 9 cents at $14.80, with 10,859 units, Lasco Distributors ended trading 8 cents higher at $6.38, with 52,465 shares trading, Lasco Financial traded with a loss of 6 cents at $4, with 86,227 stock units, Lasco Manufacturing fell 20 cents to $3.80, with 43,243 shares, Main Event settled at $5, with 33,302 units, Medical Disposables traded at $5.30, with 2,000 shares, Paramount Trading finished 1 cent higher at $2.71, with 200 stock units changing hands, Stationery and Office closed at $4.80, with 48,070 units and tTech ended with a loss of 4 cents at $7.55, with a mere 361 shares.

Junior Market drops below 3,000 points

Trading on the Junior Market of the Jamaica Stock Exchange closed with 19 securities changing hands, the same as on Friday, resulting in an exchange of only 394,030 units valued at $1,640,793 compared to 2,279,940 units valued at $14,635,254 on Friday.
The market Index declined by 12.08 points to close at 2,991.60, with prices of the last trades resulting in 4 advancing, 6 falling and 9 remaining unchanged.
Trading ended with an average of 20,738 units for an average of $86,358 in contrast to 119,997 units for an average of $770,277 on Friday. The average volume and value for the month to date amounts to units 129,302 valued at $593,087, compared to 136,087 units at an average of $624,758 previously. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded. Trading ended with the market sentiments looking mixed and having implications for Tuesday’s trading activity as 2 stocks ended with bids higher than their last selling prices and 1 with a lower offer.
At the close of the market the volume of stocks changing hands and their last traded price are: Cargo Handlers traded 9 cents higher at $11.09, with 500 units, Caribbean Cream finished with a loss of 40 cents at $6.10, with 1,000 stock units, Caribbean Producers concluded trading with a loss of 20 cents at $3.60, with 93,333 shares, Derrimon Trading ended at $8, with a mere 903 units, Express Catering concluded trading at $4.40, with 20,314 stocks changing hands, General Accident closed with a loss of 10 cents at $2.60, with 29,426 shares, Honey Bun concluded trading 5 cents higher at $4.05, with 1,160 units, Iron Rock settled at $2.80, with 13,303 shares, Jamaican Teas closed at $4.05, with just 1,751 stock units, Jetcon Corporation traded 10 cents higher at $4.50, with 25,797 shares, Key Insurance traded at $4, with 10,415 units, KLE Group traded at $2.86, with 4,400 shares changing hands, Lasco Distributors settled with a loss of 5 cents at $6.75, with 10,551 stock units, Lasco Financial closed 10 cents higher at $4.10, with 9,851 units, Lasco Manufacturing ended at $4, with 103,799 shares, Main Event ended with a loss of 83 cents at $4.45, with 19,939 units, Medical Disposables concluded trading at $5, with 1,400 stocks trading, Stationery and Office finished with a loss of 9 cents at $4.75, with 26,188 stock units and tTech traded 20,000 shares at $7.55.

Junior Market trading rise index down

Trading on the Junior Market of the Jamaica Stock Exchange ended on Tuesday with 23 securities changing hands, resulting in an exchange of 2,266,563 units valued at $14,319,936 compared to only 807,449 units valued at $4,046,825 on Monday.
At the close, the Junior Market Index declined by 7.96 points to close at 3,061.94 even as the prices of 9 advanced, 7 declined and 6 remained unchanged at the last prices all stocks were traded.
Trading ended with an average of 98,546 units for an average of $622,606 in contrast to 50,466 units for an average of $252,927 on Monday. The average volume and value for the month to date amounts to 152,558 units, valued at $681,272 and 157,059 units valued at an average of $686,161, previously. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded.
Trading ended with the market sentiments looking mixed for tomorrow’s trading activity as 4 stocks ended with bids higher than their last selling prices and 3 with lower offers.
At the close of the market the volume of stocks changing hands and their last traded price are: Blue Power traded at $45, with 3,000 stocks changing hands, CAC 2000 ended with a loss of 5 cents at $7.35, with 100 units, Caribbean Cream finished with a loss of 20 cents at $6.30, with 1,400 shares, Cargo Handlers closed 20 cents higher at $11.20, with 3,042 units, Caribbean Producers rose 10 cents to $3.90, with 2,000 stock units. Consolidated Bakeries concluded trading 10 cents higher to $2.40, with 12,549 units, Derrimon Trading closed at $8.90, with 5,000 stocks trading, Express Catering concluded trading 40 cents higher at $4.50, with 48,077 units, General Accident settled at $3, with 13,955 units, Honey Bun closed 15 cents higher at $4.05, with 3,005 stocks, Iron Rock traded at $2.80, with 5,019 units. Jamaican Teas finished at $4.20, with 13,087 units, Jetcon Corporation traded 22 cents higher at $4.50, with 110,977 shares, Knutsford Express ended with a loss of 40 cents at $14.50, with 19,271 stocks, Key Insurance finished 25 cents higher at $4, with 10,000 shares. KLE Group rose 2 cents to $2.96, with 70,600 units, Lasco Distributors concluded trading with a rise of 20 cents to $6.80, with 1,700,000 shares, Lasco Financial settled at $3.99, with 7,803 units, Lasco Manufacturing traded with a loss of 20 cents at $4, while trading 59,908 shares. Main Event closed with a loss of 13 cents at $5.62, with 9,404 units, Paramount Trading fell 20 cents to $2.70, with 10,850 stock units, Stationery and Office settled with a loss of 10 cents at $4.75, with 156,871 units and Eppley 9.5 percent preference share settled at $7.25, with 645 stock units.

3 junior companies dominate trading

Jetcon was the leading trade on Friday with more than 3 million shares.

Trading picked up on the Junior Market of the Jamaica Stock Exchange traded on Friday with 18 securities changing hands, resulting in an exchange of 5,878,774 shares valued at $26,350,771, up from 2,134,693 units valued at $9,319,098 on Thursday.
The sharp increase in trading was due mainly to three companies, Jamaican Teas with 739,063 units, Jetcon Corporation 3,090,635 stock units and recently listed Stationery and Office with 1,647,399 shares.
At the close of market activities, the prices of 6 advanced, 9 declined and 3 remained with prices unchanged resulting in the Junior Market Index declined by 17.64 points to close at 3,035.06.
Trading ended with an average of 326,599 units for an average of $1,463,932 in contrast to 112,352 units for an average of $490,479 on Thursday. The average volume and value for the month to date amounts to units 166,749 valued at $725,546, and on the previous trading day 150,764 units with an average value of $651,708. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded.
Trading ended with the market sentiments looking mixed for Monday having implications for the next day trading activity as 6 stocks ended with bids higher than their last selling prices and 4 with lower offers.
At the close of the market the volume of stocks changing hands and their last traded price are: Access Financial that closed at $46.50, with 2,705 shares, CAC 2000 settling 10 cents higher at $7.40, with 250 units. Caribbean Cream gained 10 cents to end at $6.50, with 5,000 shares, Express Catering ended 9 cents higher at $4.50, with 7,800 units, General Accident settled at $3, with 1,777 shares, Iron Rock lost 18 cents at $2.80, with 1,500 shares, Jamaican Teas closed with a loss of 20 cents at $3.80, with 739,063 units, Jetcon Corporation concluded trading 24 cents higher at $4.50, with 3,090,635 stocks changing hands. KLE Group closed 44 cents higher at $2.94, with 55,000 shares, Knutsford Express lost 10 cents to end at $14.90, with 6,555 units, Lasco Distributors concluded trading with a loss of 18 cents at $6.61, with 70,283 shares, Lasco Financial finished trading with a loss of 6 cents at $3.99, with 30,270 stock units. Lasco Manufacturing settled with a loss of 39 cents at $4.21, with 10,872 shares, Medical Disposables settled at $5, with 80,000 stock units, Main Event concluded trading with a loss of 30 cents at $5.70, with 91,016 shares, Stationery and Office finished with a loss of 5 cents at $4.75, with 1,647,399 stocks changing hands, tTech traded with a loss of $1.10 at $6.50, with 20,000 stocks changing hands and Derrimon Trading preference traded 1 cent higher at $2.01, with 18,649 stock units.

Juniors reverse Wednesday’s loss

Trading on the Junior Market of the Jamaica Stock Exchange ended on Thursday with 19 securities changing hands, resulting in an exchange of 2,134,693 units valued at $9,319,098 compared to 814,637 units valued at $3,966,483 on Wednesday.
The Junior Market Index advanced by 23.01 points to close at 3,052.70 as the prices of 7 advanced, 5 declined and 7 remained with the prices unchanged.
Trading ended with an average of 112,352 units for an average of $490,479 in contrast to 40,732 units for an average of $198,324 on Wednesday. The average volume and value for the month to date amounts to 150,764 units valued at $651,708 and previously 155,032 units valued at an average of $669,622. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded.
Trading ended with the market sentiments looking positive for the next trading session, as 7 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market the volume of stocks changing hands and their last traded price are: Access Financial settling at $46.50, with 980 stocks, AMG Packaging ending with a loss of 14 cents at $3, with 99,840 stocks changing hands, after trading at a 52 weeks’ low of $2.85. Cargo Handlers finished 60 cents higher at $11, with 56,741 shares, Caribbean Cream gained 5 cents to $6.40, with 123,300 stock units, Caribbean Producers rose 5 cents to $3.80, with 287,004 shares, Express Catering ended with a loss of 19 cents at $4.41, with 60,757 stock units, General Accident concluded trading 20 cents higher at $3, with 14,580 stocks, Honey Bun lost 60 cents to land at $3.90, with 429,925 stocks, Jamaican Teas settled at $4, with 78,776 units, Jetcon Corporation finished with a loss of 13 cents at $4.26, with 222,203 stocks trading, Key Insurance closed with a loss of 25 cents at $3.75, with 23,900 units, after it traded at an intraday high of $4.10. KLE Group concluded trading at $2.50, with 31,422 shares, Lasco Distributors closed at $6.79, with 21,697 shares, Lasco Financial settled 5 cents higher at $4.05, with 144,903 stocks changing hands, Lasco Manufacturing ended 60 cents higher at $4.60, with 350,000 stock units, Medical Disposables closed at $5, with 28,923 shares, Main Event ended 50 cents higher at $6, with 76,415 units, as investors continued to respond to positive nine months results, Paramount Trading concluded trading at $2.90, with 77,817 shares and Stationery and Office ended at $4.80, with 5,510 shares.