Stocks on the main market of the Jamaica Stock Exchange rose with sizable gains at the close of trading on Thursday. Prices in the overall closed at a new record high, as the JSE combined index surged to a new high for 2016 as advancing stocks overpowered declining ones 3 to 1.
Trading ended with the prices of 13 securities gaining out of a total of 29 trading, while 4 declined in the overall market, including 3 stocks rising and 5 falling, in the junior market.
At the close 3,849,357 units valued at $41,532,118, changed hands, compared to the 3,098,446 units valued at $40,569,011 changing hands on Wednesday. The junior market accounted for 759,344 units valued at $3,870,697 of the stocks traded.
At the close, the JSE Market Index climbed 943.55 points to end at 164,054.64. The all Jamaica Composite Index rose 1,055.21 points to close at 182,304.75 and the JSE combined index climbed 952.95 points, to end at 176,529.46 for a new record high, surpassing the record reached in February.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading show a sharp rise to 22 stocks with bids higher than their last selling prices and 6 with lower offers.
In market activity, Berger Paints closed at $5.15 with 1,019 units changing hands, Cable & Wireless fell 1 cent and closed at 89 cents with 95,807 units changing hands, Caribbean Cement rose 81 cents in trading 2,000 shares to close at $29.20, Carreras exchanged 8,597 shares at $65.85. Trading in 1834 Investments ended with 43,451 shares changing hands 2 cents higher at $1.24, Grace Kennedy closed with 2,265 shares changing hands at $42.50, 
Jamaica Broilers had 19,210 shares changing hands to end at $14.60 after rising 5 cents, Jamaica Producers closed at $8.40 with 1,349 units trading. Jamaica Stock Exchange ended at $28 with 7,839 units trading, JMMB Group climbed 60 cents in trading 1,239,331 units to close at $11.50, Sagicor Group declined by 20 cents in trading 391,564 shares to close at $23.80, Sagicor Real Estate Fund traded 114,328 shares to close with at $10.20. Scotia Group climbed $1.70 and closed at $32 with 10,731 shares changing hands, Seprod rose 10 cents in trading 129,305 shares to end at $22, Supreme Ventures rose 5 cents to close at $4.65 with 12,000 shares. Proven Investments traded 9,700 ordinary shares to close at 20 US cents after gaining 1.5 cents.
JSE majors jump on Wednesday
Stocks on the main market of the Jamaica Stock Exchange rose with sizable gains at the close of trading on Wednesday with four digit gains in the main indices as over advancing stocks gained the upper hand at the close.
Trading ended with the prices of 13 securities gained out of a total of 41 trading, while 9 declined in the overall market, including 3 stocks rising and 5 falling, in the junior market.
At the close 3,098,446 units valued at $40,569,011, changed hands, compared to the 3,375,381 units valued at $114,125,679 changing hands on Tuesday. The junior market accounted for 759,344 units valued at $3,870,697 of the stocks traded.
At the close, the JSE Market Index garnered 1,178.43 points to end at 163,111.09. The all Jamaica Composite Index rose 1,317.90 points to close at 181,249.54 and the JSE combined index climbed 1,138.30 points, to end at 175,576.51.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 15 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints gained 4 cents to close at $5.15 with 500 units changing hands, Cable & Wireless closed at 90 with 197,033 units changing hands, Caribbean Cement dropped 30 cents in trading 33,165 shares to close at $29.20, Carreras exchanged 46,014 shares at $65.85 to gain 85 cents. 1834 Investments traded 207,766 shares at $1.22, Grace Kennedy rose 50 cents and closed with 152,808 shares changing hands at $42.50, Jamaica Broilers had 19,108 shares changing hands to end at $14.55, Jamaica Producers closed at $8.40 with 41,793 units trading. Jamaica Stock Exchange ended at $28 with 3,600 units trading, JMMB Group traded 32,634 units to close at $10.90, 
Margaritaville Turks traded 120,000 shares to close at 23.5 US cents after gaining 0.50 cent, Mayberry Investments traded 28,428 but fell 15 cents in closing at $3.70, National Commercial Bank rose 80 cents to $41 with 15,162 shares changing hands. Pan Jamaican Investment traded 84,575 shares to close $23.50 after rising 19 cents, Sagicor Group rose 30 cents in trading 220,817 shares to close at $24, Sagicor Real Estate Fund traded 8,000 shares to close with at $10.20, Scotia Group climbed $1.30 and closed at $30.30 with 10,100 shares changing hands. Scotia Investments closed at $26 with 8,800 shares changing hands, Supreme Ventures lost 20 cents to close at $4.60 with 22,100 shares. Proven Investments traded 468,600 ordinary shares to close at 18.5 US cents after declining by 0.49 cents, JMMB Group 7.50% preference share traded 100,000 units at $1.10 and Jamaica Money Market Brokers 7.50% preference share traded 482,849 units at $2.13.
JSE majors retreat on Tuesday
Scotia Group dropped by $1 on the JSE on Tuesday.
At the close of the market, prices of 12 securities gained out of a total of 38 trading, while 15 declined in the overall market, including 7 stocks rising and 4 falling, in the junior market.
Caribbean Cement was the star performer with a dive of $4.40 to close at $29.50 during the day and closed with 67,176 shares changing hands while Carreras exchanged 1,349,963 shares at $65 with a loss of 25 cents.
At the close 3,375,381 units valued at $114,125,679, changed hands, compared to the 3,502,355 units valued at $25,804,167 changing hands on Monday. The junior market accounted for 494,666 units valued at $2,264,166 of the stocks traded.
The market index ended with sizable losses, with the JSE Market Index all Jamaica Composite Index dropping 1,595.99 points to close at 179,931.64 and the JSE combined index falling 1,108.42 points, to end at 174,438.21.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 2 with lower offers.
In market activity, Cable & Wireless fell 5 cents and closed at 90 with 42,413 units changing hands. Grace Kennedy fell 50 cents and closed with 16,908 shares changing hands at $42, Jamaica Broilers had just 2,130 shares changing hands and dropped 95 cents to end at $14.55. Jamaica Stock Exchange ended at $28 with 14,727 units trading, JMMB Group traded 4,808 units and rose 60 cents to close at $10.90,
Margaritaville Turks traded 48,100 shares to close at 23 US cents after easing by 1 cent, National Commercial Bank fell 5 cents to $40.20 with 19,860 shares changing hands. Pan Jamaican Investment traded 19,860 shares to close $23.31 after falling 68 cents, 138 Student Living ordinary share traded at $4.80 while with 512,500 shares changing hands, Portland JSX closed at $11 after trading 24,700 shares, Radio Jamaica traded 95,519 shares and lost 9 cents to land at $1.31. Sagicor Group rose 19 cents in trading 602,900 shares to close at $23.51, Sagicor Real Estate Fund traded 49,223 shares to close with at $10.20, Scotia Group lost $1 and closed at $29 with 40,289 shares changing hands and Supreme Ventures lost 5 cents to close at $4.80 with 14,000 shares
JSE resumes rally – Monday
Carib Cement jumped $3.90 to end at $33.90 on Monday.
At the close of the market, prices of 19 securities gained out of a total of 40 trading, while 8 declined in the overall market, including 7 stocks rising and 5 falling, in the junior market.
Caribbean Cement was the star performer with a jump of $3.90 to close at $33.90 during the day, but closed with 19,780 shares traded and JPSCo 7% preference share traded at a new high of 45 cents with a gain of 4 cents with just 1,278 shares changing hands.
At the close 3,502,355 units valued at $25,804,167, changed hands, compared to the 3,969,447 units valued at $48,456,543 changing hands on Tuesday. The junior market accounted for 1,873,272 units valued at $10,709,100 of the stocks traded.
The market index ended with moderate losses, the JSE Market Index rose 1,135.08 points to end at 163,359.75. The all Jamaica Composite Index climbed 1,269.42 points to close at 181,527.63 and the JSE combined index gained 1,119.65 points, to end at 175,546.63.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 15 stocks with bids higher than their last selling prices and 1 with a lower offer.
In market activity, Barita Investments traded 17,844 shares and rose 40 cents to close at $4.05, Berger Paints gained 1 cent to close at $5.11 with 13,263 units changing hands, Cable & Wireless closed at 95 with 14,700 units changing hands. Carreras exchanged 11,114 shares at $65.25 with a loss of 25 cents, Grace Kennedy closed with 6,564 shares changing hands at $42.50, Jamaica Broilers had 38,501 shares changing hands and gained 50 cents to end at $15.50. Jamaica Producers ended at $8.40 with 1,600 units trading,
JMMB Group traded 9,754 units and rose 30 cents to close at $10.30, Margaritaville Turks traded 31,000 shares to close at a 52 weeks’ high of 24 US cents after rising by 2 cents, National Commercial Bank rose 14 cents to $40.25 with just 800 shares changing hands. Portland JSX closed at $11 after trading 8,400 shares. Radio Jamaica traded 13,572 shares and lost 3 cents to land at $1.40, Sagicor Group rose 1 cent in trading 90,934 shares to close at $23.51, Sagicor Real Estate Fund traded 49,223 shares to close with at $10.20, Scotia Group closed at $30 with 7,620 shares changing hands. Proven Investments traded 238,280 shares to close at 19.99 US cent and JMMB Group 7.50% preference share traded 500,000 units at $1.10.
JSE jumps early Monday
Trading on the Jamaica Stock Exchange, has been light, resulting in gains of more than 1,000 points in the main indices and a small junior market loss. The main market jumped by 1,293.78 points as measured by the all Jamaican Composite index and the junior market slipped by just 5 points on relatively low volume.
Up to 10:45 am, the main trades are Caribbean Cream traded 568,043 units between $8 and $9.10, the last traded price, while General Accident Insurance jumped 70 cents with 59,000 units changing hands at $2.80, from the junior market. Caribbean Cement traded just 4,000 shares at $3 for a $4 rise. Proven Investments traded 236,500 shares at 19.99 US cents, Sagicor Group has 86,574 units trading at $23.50 and JMMB Group 7.50% preference share trades 500,000 units at $1.10.
At 10:45 am 24 securities traded, resulting in a volume of 1,689,614 shares changing hands carrying a value of $9.3 million, compared to 1,002,702 shares with a value of $5,828,970 on Friday at 10.45 am. The average number of shares traded amounts to 70,401 units compared to 41,779 units on Friday. Market activity resulted in 4 stocks falling while the prices of 11 securities rose.
The all Jamaica Composite Index 1,303.22 points to 181,561.43 the Jamaica Stock Exchange Market Index 1,165.31 points to 163,389.98, the Jamaica Stock Exchange combined index climbed 1,019.30 points to close at 175,446.28 and the junior market index fell 5.98 points to 2,328.45.
RJR & General Accident in Top 5
Prices on the Jamaica Stock Exchange are on the move again as the last quarter of the year approaches. As prices rise so does the PE ratio. The top PE in the main market is at 17 while in the junior market is around 18.
Charts of both markets show them in a bullish state, with the markets hitting higher lows and higher highs, a strong indication that they will be moving higher. More than 50 percent of main and junior market stocks are priced below the markets average PE of 9.5 and 10.4 respectively.
Against this background, IC Insider’s Top 5 selection has one new listing in the main and junior market list as Grace Kennedy and Jetcon Corporation are replace by Radio Jamaica and General Accident in position 5 and 4 respectively. Jetcon hit new highs during the week and closed at $4.70 up from $4.35 at the start of the week. Radio Jamaica earnings have been upgraded to 25 cents per share with increased revenues and cost cutting. General Accident is not without risk but earnings for 2016 are up 155 percent against a battered first half of 2015 and 2016 should better the 31 cents earned for the 2015 financial year.
AMG Packaging remains at the top of the junior market list even as the price moved up while JMMB Group is atop the main market with Caribbean Cement drops to 4th with a rise of $4 during the week. Investors attempted to trade Carib Cement at $34 but market breaker stop it from standing the stock which closed at $30 traded as high as $32. There are just six offers in the market starting at $34 and worth keeping an eye on this one for more gains this week. Barita Investments traded up to $4 during the past week and could well end back at this level during the days ahead as supply declines and demand increases.
Watch these stocks for action this week – Access Financial Services with the bid at $18.50 with no stock on offer, Blue Power with a wide gap between bid and offer, Cargo Handlers with the bid moving away from the last sale price of $86.10 with the offer at $100. Caribbean Cream with increasing demand, Caribbean Producers gaining support after poor full year results, Derrimon Trading and General Accident with bids getting stronger, Jetcon Corporation with supply and increasing interest, Medical Disposables and tTech with supplies.
From the main market the main action could come from the following, Barita Investments, Caribbean Cement, Jamaica Stock Exchange, JMMB Group, Radio Jamaica, Sagicor Group, Scotia Group, Seprod and Sterling Investments.
JSE majors retreat again – Friday
Investors traded Carib Cement at $34 but the trade was cancelled and the stock closed at $30 after officially going as high s $32.
At the close of the market, prices of 15 securities gained out of a total of 38 trading, while 14 declined in the overall market, including 5 stocks rising and 5 falling, in the junior market.
Caribbean Cement was the star performer with a jump to $32 during the day, but it closed with an overall gain for the day of $2 to $30 with 396,000 shares traded. Three trades totaling 3,000 shares at $34 were actually put through but were cancelled as they were effected after mid-day with less than an hour of trading left. Under the stock exchange rules, if the price exceeds 15 percent for the day the circuit breaker comes into effect and the stock is frozen from trading for an hour. Where it would be frozen for the rest of trading session the trades that trigger the freeze are cancelled.
At the close 3,969,447 units valued at $48,456,543, changed hands, compared to the 3,134,827 units valued at $54,491,555 changing hands on Tuesday. The junior market accounted for 1,372,103 units valued at $6,508,601 of the total traded on Thursday.The market index ended with moderate losses, the JSE Market Index declined 521.12 points to end at 162,224.67. The all Jamaica Composite Index fell 582.79 points to close at 180,258.21 and the JSE combined index slipped 359.99 points, to end at 174,426.98.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 11 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Barita Investments traded 204,156 shares and fell 35 cents to close at $3.65, Berger Paints gained 5 cents to close at $5.10 with 37,462 units changing hands, Cable & Wireless lost 3 cents to close at 95 cents, with 84,754 units changing hands. Carreras exchanged 10,982 shares at $65.50 to gain 50 cents, Ciboney closed at 17 cents with 116,600 units trading after losing 2 cents, Grace Kennedy closed with 8,698 shares changing hands at $42.50, Jamaica Broilers had 112,000 shares changing hands to end at $15. Jamaica Producers ended with a rise of 4 cents to $8.40 with 90,434 units trading, Jamaica Stock Exchange gained 50 cents to end at $28 while trading 88,183 shares, JMMB Group traded 152,927 units to close at $10. National Commercial Bank rose 5 to $40.11 with 9,214 shares changing hands,
Pan Jamaican Investments closed at $23.99 after trading 5,000 shares, Radio Jamaica traded 19,066 shares and gained 1 cent to land at $1.43. Sagicor Group lost 15 cents in trading 18,124 shares to close at $23.50, Sagicor Real Estate Fund traded 12,000 shares to close with at $10.20 with a loss of 15 cents, Salada Foods had 1,565 units changing hands at $7.90, Scotia Group fell 11 cents to close at $30 with 579,383 shares changing hands. Sterling Investments traded 26,600 shares and fell 45 cents to close at $13.80, Supreme Ventures gained 18 cents and ended at $4.98, with 492,100 units changing hands, JMMB Group 7.50% preference share traded 100,000 units at $1.10 and Jamaica Money Market Brokers 7.50% preference share traded 17,151 units and rose 3 cents to end at $2.13.
JSE stocks falter early Friday
Trading on the Jamaica Stock Exchange, has been light, resulting in losses in the main and junior market indices. The main market lost just under 700 points as measured by the all Jamaican Composite index and the junior 
market slipped by just 4 points on relatively low volume.
Up to 10:45 am, the main trades are Lasco Manufacturing with 112,022 units at $4.80 from the junior market. Cable & Wireless had 60,000 units changing hands at 99 cents, Ciboney traded 116,600 units at 17 cents, Jamaica Broilers 107,200 shares at $15 and Supreme Ventures traded 490,100 units at $4.75.
At 10:45 am 24 securities traded, resulting in a volume of 1,002,702 shares changing hands carrying a value of $ 5,828,970, compared to 1,552,704 shares with a value of $9,196,894 on Thursday at 11.45 am. The average number of shares traded amounts to 41,779 units compared to 48,522 units on Thursday. Market activity resulted in 7 stocks falling while the prices of 9 securities rose.
The all Jamaica Composite Index fell 695.81 points to 180,145.19 the Jamaica Stock Exchange Market Index lost 622.19 points to 162,122.60, the Jamaica Stock Exchange combined index declined 615.81 points to close at 174,171.16 and the junior market index fell 3.77 points to 2,318.65.
JSE majors give up 1,200 points – Thursday
Palace jumps $25 to close at $195 on Thursday.
At the close of the market prices of 14 securities gained out of a total of 38 trading, while 12 declined in the overall market, including 7 stocks rising and 3 falling, in the junior market. Palace Amusement was the star performer with a jump of $25 to a new record high of $195 but with only 500 shares trading. National Commercial Bank dropped $1.94 to close at $40.06 with 595,832 shares changing hands.
At the close, 3,134,827 units valued at $54,491,555 changed hands, compared to the 4,442,113 units valued at $19,544,716 changing hands on Wednesday. The junior market accounted for 1,015,005 units valued at $5,213,760 of the total traded on Thursday.
The market index ended with mild declines, with the JSE Market Index declined 370.31 points to end at 162,745.79. The all Jamaica Composite Index fell 414.14 points to close at 180,841.00 and the
JSE combined index slipped 122.56 points, to end at 174,786.97.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 11 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Barita Investments traded 44,500 shares to close at $4, Berger Paints gained 35 cents to close at $5.05 with 69,980 units changing hands, Cable & Wireless rose 3 cents to close at 98 cents, with 234,552 units changing hands. Caribbean Cement jumped 46 cents, to close at $28 with 72,577 units changing hands, Ciboney closed at 19 cents with 35,200 units trading, Grace Kennedy lost 30 cents, with 40,932 shares changing hands at $42.50, Jamaica Broilers had 20,064 shares changing hands and slipped 6 cents to end at $15. Jamaica Producers ended with a loss of 14 cents to close at $8.36 with 46,452 units trading,
Jamaica Stock Exchange gained 50 cents to end at $27.50 while trading 147,245 shares, JMMB Group traded 12,100 units and fell 25 cents to $10. Mayberry Investments traded 11,000 shares to close at $3.60, after rising 4 cents, Pan Jamaican Investments fell 1 cent and closed at $23.99 after trading 56,728 shares, Sagicor Group rose 63 cents in trading 17,213 shares to close at $23.65, Salada Foods had 10,525 units changing hands at $7.90. Scotia Group closed at $30.11 with 101,400 shares changing hands, for a loss of 40 cents, Proven Investments ordinary share traded 416,425 units at 19.99 US cents, JMMB Group 7.50% preference share traded 130,000 units at $1.10 and Jamaica Money Market Brokers 7.50% preference share traded 51,617 units at $2.10.
JSE correcting directors’ error
Marlene Street Forrest – General Manager of the JSE
In the original release of September 21, the company said the “Board of Directors decided at a meeting held on September 21, 2016, that each ordinary share of the Company be subdivided into five shares, resulting in the issued and fully paid capital of the Company increasing from 140,250,000 ordinary shares to 701,250,000 units of no par value, with the record date of October 5.”
In an article reporting on the decision to split the stock IC Insider, stated that the directors had no power to effect a stock split or increase the issued number of shares, as only the shareholders of the company has the power to do so, at a general meeting.
Late on Thursday, the JSE has issued a new statement and now advises “that an Extraordinary General Meeting of the Company will be convened at a date to be decided and communicated following the Board of Directors’ decision at a meeting held on September 21, 2016 that each ordinary share of the company be subdivided into five shares. This advisory supersedes the announcement on September 21, 2016, in which the date 2016 was stated as the effective date for the stock split.”
The JSE regulates the companies listed on the stock exchange and broker members, for them to have made such a huge error, raises some major questions about their ability to regulate the market with the present cadre of regulators. Was the other regulator, the Financial Services Commission aware of the miststep.