NCB leads JSE to 8,028.94 points rise

NCB Financial closed at a record $107 on Friday, pushing a stock split one step closer.

 NCB Financial surged to a new record of high of $107 and along with 9 other stocks and pushed the JSE All Jamaican Composite Index by 8,028.94 points to a record close of 313,990.54 for a 49 percent gain in 2017.
The JSE Index to jumped 7,315.27 points to a record close of 286,080.89 on a day when two new record close was achieved by two securities. Trading picked up from Thursday’s low levels with 5,159,785 units valued at $78,990,902 trading compared to 3,438,708 units valued at $30,094,508 on Thursday.
Trading on the Main Market settled with 21 securities changing hands, of which 10 advanced, 6 declined and 5 traded firm. The US dollar market had 3 securities trading with one suffering a decline. Volume traded in this market was 141,361 units valued at US$80,724 and the US dollar Index fell 2.29 points to 183.01.
Sagicor Real Estate Fund closed at a new high of $15 after rising 99 cents, trading 3,630,842 units while Berger Paints closed at $14, but attempts were made to trade it as high as $17.50 but the price exceeded the 30 percent limit it could trade at for the day. Trading closed with bids to buy Berger ranging from a low of $11.02 to a high of $14 to purchase 259,773 shares, 204,458 units are on sale from a low of $16.75 for 41,583 units to most at $22 for 89,388 shares.
Trading ended with an average of 245,704 units for an average of $3,761,472 in contrast to 132,258 units for an average of $1,157,481 on Thursday. The average volume and value for the month to date amounts to 1,667,082 units valued at $22,952,418 and 1,765,920 units valued at $24,286,888, previously. In contrast, September closed with average of 536,395 units at $1,905,441 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows a strong reading of 11 stocks with bids higher than their last selling prices and only 1 with a lower offer.

All Jamaican Index jumps 1,630.32 points

The Main Market of the Jamaica Stock Exchange closed at another record on Thursday with 26 securities changing hands, 9 advanced, 8 declined and 9 traded firm, leading the JSE All Jamaican Composite Index to jump 1,630.32 points to 305,961.60 and the JSE Index to gain 1,485.40 points to 278,765.62.
For the year to date, the All Jamaican Composite Index is up 45.6 percent and the JSE Index 45 percent.
In both the main and US dollar markets 30 securities traded. With the main market ending with 3,438,708 units valued at $30,094,508 changing hands compared to 2,338,963 units valued at $40,714,751 on Wednesday in the main market while trading In the US dollar market saw 4 securities changing hands, resulting in 21,938 units valued at US$8,171 changing hands. At the close the JSE US dollar Equities Index advanced by 0.49 points to close at 185.30.
Trading ended with an average of 132,258 units for an average of $1,157,481 in contrast to 101,694 units for an average of $1,770,207 on Wednesday. The average volume and value for the month to date amounts to 1,765,920 units valued at $24,286,888 and previously, 1,919,815 units valued at an average of $26,465,745. In contrast, September closed with average of 283,480 units at $3,630,990 for each security traded.
The average volume and value for the month to date amounts to units valued at IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 1 with a lower offer.

Another record close for Jamaican stocks

Rose Hall hotel a  Sagicor Real Estate Fund, property. The stock closed at a new high on Wednesday.

The Main Market of the Jamaica Stock Exchange finished at another new record close of 304,331.28 for the all Jamaica Composite Index on Wednesday. The main and US dollar markets closed with 27 securities changing hands, of which 12 advanced and 5 declined.
In the main activity, Barita Investments closed at $8, with 720 units changing hands, Berger Paints settled 10 cents higher at $11.60, with 72,142 shares, Caribbean Cement finished at $27.50, with 700 units, Carreras settled with a loss of 40 cents at $11.50, with 456,367 stock units, Ciboney Group ended with a loss of 1 cent at $0.18, with 9,835 shares traded. Grace Kennedy ended 50 cents higher at $42.50, with 7,396 units, Jamaica Broilers closed trading 50 cents higher at $18.50, with 18,060 stock units, Jamaica Producers gained 40 cents to end at $16, with 13,000 shares traded, Jamaica Stock Exchange ended trading with a loss of 5 cents at $7.20, with 4,000 units, JMMB Group finished trading at $27, with 180,823 units. Mayberry Investments finished trading 11 cents higher at $4.21, with 200 stock units, 1834 Investments concluded trading 10 cents higher at $1.35, with 3,110 units, PanJam Investment finished 60 cents higher at $38.60, with 485 shares, Portland JSX settled 25 cents higher at $9, with 4,760 units, Radio Jamaica ended trading at $1.15, with 688,353 stock units changing hands. Sagicor Group closed with a loss of $1.50 at $38.50, with 385,734 shares, Sagicor Real Estate Fund closed 75 cents higher at a 52 weeks’ closing high of $14, with 35,500 units, Scotia Group settled $1 higher at $53, trading 35,890 shares, Seprod exchanged 24,500 stock units at $30 nd Supreme Ventures ended trading at $12, with 33,492 stock units. In the main market preference segment, JMMB Group finished trading at $1.15, with 262,000 stock units, Sagicor Bank A preference share traded 1,350 units at $1.05 and the B share saw 9,000 units trading at $1.
In the US dollar market segment, JMMB Group 6% preference share finished at $1.10, with 10,000 shares Productivity Business traded 550 shares at 60 US cents, Proven Investments closed with 483,576 units trading at 23.5 US cents and Sterling Investments traded just 100 shares at a 52 weeks’ high of 12 US cents after rising 1 cent.
Prices of securities trading for the day are those at which the last trade took place.

Major stocks surge to new record

NCB helped push JSE to record close on Tuesday.

The JSE All Jamaican Composite Index made another big move in another attempt in breaking away from resistance around the 300,000 points levels, advancing by 2,135.19 points to close at 302,498.35 The JSE Index advanced by 1,945.40 points to a record close of 275,610.21.
NCB Financial with 611,333 units trading jumped to $93 at the close, along with Scotia Group that traded just 9,271 units to close higher at $52 were two of the main contributors to the day’s rise in the market indices.
The Main Market of the Jamaica Stock Exchange finished trading on Tuesday with 23 securities changing hands, 12 advanced, 4 declined and 7 traded firm with 4,504,312 units valued at 68,391,852 compared to 94,545,441 units valued at 1,119,081,050 on Thursday. In the US dollar market, trading just 1 security accounted for 102,838 units with a value of $24,009 and the JSE US dollar Equities Index closing with a modest loss of 0.70 points to 183.66.
Trading ended with an average of 142,884 units for an average of $3,108,721, in contrast to 204,741 units for an average of $3,108,721 Friday. The average volume and value for the month to date amounts to 2,085,099 units valued at an average of $28,710,794 and 2,279,320 units valued at $31,266,958 previously. In contrast, September closed with average of 536,395 units at $1,905,441 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 10 stocks with bids higher than their last selling prices and 2 with lower offers.
Berger Paints resumed trading but with ne official report on the out turn of the acceptance of the offer by investors, the stock closed at $11.50 after 248,769 units were traded.

6M Berger shares taken up?

Trading in Berger Paints shares are now trading after trading was suspended two Thursdays ago.

Trading has resumed in Berger Paints after it was suspended ahead of the closing date for the offer by Ansa Coatings to acquire the minority shares at $10.88.
Trading took place between $11 and $11.50 with 213,774 units changing hands. So far the company has not released information on the number of shares that were offered as a result of the offer. IC Insider.com gathers that the take up is around 6 million units, if so it would represent around 3 percent of the issued capital of the company.
this would be in keeping with some of the to minority shareholders coming out publicly against the offer price and with more than 31 percent of the holdings held by entities that were not in support of the offer.

Jamaican stocks shooting for the stars

NCB could push JSE into breakout territory soon.

The JSE All Jamaican Composite Index raced to a record close of 300,363.16 on Friday, just around resistance level.
The market seems poised to break through the above level sooner than later.
This resistance is a short term one, going back to 2014, when the market started to move up within the channel shown in the accompanying chart. The market made a number of attempts to break out but was constrained by the upper resistance line. It is now making the second attempt to do so within a month and could finally do that, this coming week if NCB Financial makes its final attempt to really move higher in line with its fundamentals, with full year results that should at least reach $9 per share and the announcement of a big final dividend payment, just a few weeks away. Supporting the upward move is the shortage of the stock with only 33,603 units offered for sale at the close of the market on Friday. At the same time the stock trades in Trinidad at J$100.

Th all Jamaica Composite Index trades jsut at resistance and is itching to break out of the channel going back to 2014.

The market decisively broke through the long term resistance of 280,000 points, starting in Mid-September. The resistance line can be traced back to late 1994 and the then 2015 peak, signaling that a big move is ahead as there are no major resistance until the 360,000 market and then 505,000 depending on the pace of the market move.
The technical indicators point to a market that is clearly heading higher with the fundamentals lending support to the technical. The all Jamaica Composite Index has decisively broken through the long term resistance of 280,000 points, starting in Mid-September and heading to higher highs.
The fundamental factors include and growing economy, interest rates that are declining, low inflation, business and consumer confidence that are at record highs, employment on the rise, construction, tourism and the mining sectors growing and likely to have some direct impact on listed companies.

The market decisively broke through the long term resistance of 280,000 points, starting in Mid-September and now has no long term barrier to push much higher.

Bank leading is climbing well above the rate of inflation a good indicator for pickup in economic activities. Government fiscal operations are running with a surplus currently. The wayward Jamaica dollar seems to be tamed with the currency now at a slightly lower value than at the end of 2016. Importantly, there are few areas that can now compete well with the stock market.
Also supporting the rise higher is the fact that the average PE ratio of the main market is over 13, with the top half selling at 16.5, with more than half of the market priced 11 times and below, suggesting big gains ahead for underpriced stocks. The list includes big capitalized stocks such as Caribbean Cement, Grace Kennedy, Jamaica Broilers, JMMB Group, Sagicor Group, NCB Financial and Scotia Group.

Banks push JSE to new high – Friday

Stocks surged higher, at the close of trading on the main market of the Jamaica Stock Exchange on Friday with the market ending at record closing levels as JMMB Group NCB Financial and Scotia Group record strong gains, pushing the JSE All Jamaican Composite Index to a record close of 300,363.16.
Trading on the main market ended with 22 securities changing hands, 7 advanced, 6 declined and 11 traded firm with 4,504,312 units valued at $68,391,852 compared to 94,545,441 units valued at $1,119,081,050 on Thursday. In the US dollar market 425,898 units traded for a value of US$102,239 for two securities.
In market activity, volumes are those trades for the day and the closing prices are those at which the last trade took place. At the close on market activity, Barita Investments ended trading with a loss of $1 at $8, with 40,452 stock units trading, Cable & Wireless finished at $1.10, with 42,361 units, Caribbean Cement settled 54 cents higher at $26.55, with 3,000 shares, Carreras closed at $12, after 462,635 stock units changed hands, Grace Kennedy closed with a loss of 5 cents at $42.75, with 12,005 shares. Jamaica Broilers ended with a loss of 5 cents at $17.95, with 1,858 units, Jamaica Producers ended trading at $16, with 2,278 stock units, Jamaica Stock Exchange concluded trading $1.20 higher at $7.20, with 1,064,940 shares switching owners, JMMB Group finished $3 higher at $26, after trading 21,667 units, Mayberry Investments ended trading with a loss of 40 cents at $4.10, with 15,378 shares. PanJam Investment ended with a loss of $3.48 to $38.52, with 9,732 units, Portland JSX ended trading after falling 50 cents to an all-time low of $8.50, with 50,000 stock units after the company reported a loss for the six months to August of US$221,251. Radio Jamaica settled at $1.15, trading 10,100 shares, Sagicor Group traded with a loss of $1.49 cents at $38.51, with 7,700 units changing hands, Sagicor Real Estate Fund finished trading 4 cents higher at $13.25, with 19,700 stock units, after it traded at an all-time high of $15. Salada Foods closed at $8.50, with 350,000 shares, Scotia Group ended $3.08 higher at $50.98, with 414,399 stock units, Seprod traded 339 units at $30 and Supreme Ventures finished 37 cents higher at $11.85, with 130,790 shares.
In the main market preference segment, Jamaica Money Market Brokers 7.5%, ended trading 700,000 shares at $2 and JMMB Group 7.5% ended 1 cent higher at $1.15, with 870,000 stock units changing hands.
In the US dollar market segment, Productivity Business traded 5,898 shares at 57.5 US cents and Proven Investments closed with 420,000 units trading at 23.5 US cents.

JSE backs off from record

Trading on the Main Market of the Jamaica Stock Exchange finished on Tuesday with the JSE All Jamaican Composite Index pulling back from Monday’s record close to fall by 659.53 points to 298,431.63 while the JSE Index fell 600.91 points to end at 271,904.96.
At the close of trading in the main market, 24 securities changing hands, 6 advanced, 11 declined and 7 traded firm with 5,506,552 units valued at $185,232,323 changing hands, compared to 310,999,356 units valued at $2,974,897,171 on Monday.
In the US dollar market trading accounted for the Equities Index declined 2.47 percent by 4.62 points to close at 182.53 as one security traded with a loss.
Trading ended with an average of 229,440 units for an average of $7,718,013 in contrast to 13,521,711 units for an average of $129,343,355 on Monday. The average volume and value for the month to date amounts to 2,622,376 units valued at $36,983,349 and previously 3,041,577 units with a value of $42,110,123. In contrast, September closed with average of 536,395 units at $1,905,441 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids higher than their last selling prices and 2 with lower offers.

Junior Market drops again

The Junior Market Index after falling 14.30 on Friday, declined further on Monday by 26.18 points to close at 2,906.00 as trading ended with 21 securities changing hands of which 6 advanced, 5 declined and 10 remained with prices unchanged.
Market activity resulted in an exchange of 904,019 units valued at $4,463,382 compared to 1,976,686 units valued at $6,469,834 on Friday.
Trading ended with an average of 43,049 units for an average of $212,542, in contrast to 89,849 units for an average of $294,083 on Friday. The average volume and value for the month to date amounts to 74,618 units valued at $323,637 and 81,597 units valued at $348,195, previously. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Tuesday’s trading activity as 4 stocks ended with bids higher than their last selling prices and 4 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place. At the close, AMG Packaging finished with a loss of 10 cents at $3.30, trading 604 units, Cargo Handlers ended at $9.50, trading 101,214 stock units, Caribbean Producers closed at $3.70, with 55,335 units, C2W Music closed at $0.49, exchanging 4,882 shares, Derrimon Trading gained 1 cent to end at $8, with 6,050 units, Dolphin Cove finished at $17.50, trading 4,162 shares. Eppley ended at $12, with 4,429 units changing hands, Express Catering settled at $4.40, with 63,989 units, General Accident concluded trading at $2.73, with 10,857 stock units, Honey Bun lost 20 cents at $4.10, with 3,000 shares, Jamaican Teas ended 5 cents higher at $4.10, with 50,135 shares. Jetcon Corporation concluded trading 1 cent higher at $5, with 70,000 stock units, KLE Group traded with a loss of 22 cents at $2.28, after 14,000 stock units traded, Knutsford Express settled at $14.89, with 1,120 shares, Lasco Distributors ended with a loss of 29 cents at $6, with 78,848 units, Lasco Financial gained 5 cents to end at $4.25, with 97,639 shares, Lasco Manufacturing concluded trading 201,526 units at $3.50. Main Event ended 8 cents higher at $5.18, with 35,041 units, Medical Disposables settled at $5.30, with 15,000 stock units, Paramount Trading rose 1 cent to $2.80, with 29,294 units and Stationery and Office finished with a loss of 8 cents at $4.70, with 56,894 shares traded.

JSE closes 1,000 points shy of 300,000

The market made another run at the 300,000 mark on the All Jamaican Composite Index on Monday, but fell just under 1,000 points shy, with the index ending at 299,091.16 points as the investors continued their bullish attack on a limited set of stocks.
The Main Market of the Jamaica Stock Exchange ended with 23 securities changing hands, 9 advanced, 12 declined and 2 traded firm with 310,999,356 units valued at $2,974,897,171 as Supreme Ventures accounted for 307 million units. One stock traded in the US market resulting in the price rising on small volume.
In market activity, volumes are those trades for the day and the closing prices are those at which the last trade took place. In the main activity, Barita Investments concluded trading 24 cents higher at $8, with 10,673 units changing hands, Cable & Wireless rose 2 cents to $1.02, with 126,398 shares, Caribbean Cement ended at $28, with just 144 units, Carreras ended trading with a loss of 2 cents at $13.48, with 252,898 stock units changing hands, Grace Kennedy finished with a loss of 40 cents at $43, in trading 38,318 units. Jamaica Broilers settled with a loss of 50 cents at $18, while exchanging 8,266 stock units, Jamaica Producers concluded trading with a loss of 80 cents at $15.20, with 6,459 shares, Jamaica Stock Exchange finished 10 cents higher at $7.70, with 27,315 units, JMMB Group traded 89 cents higher at $26, with 36,897 stock units, Kingston Properties settled with a loss of 5 cents at $7.15, with 2,000 units, Kingston Wharves finished 75 cents higher at $30.75, with 20,539 shares. Mayberry Investments exchanged 9,218 stock units at $4.50, property company, 138 Student Living finished 1 cent higher at $5.41, with 2,700 shares, PanJam Investment shed $1 to end at $43, with 11,244 stock units, Pulse Investments traded with a loss of 2 cents at $1.80, trading 69,750 shares, Radio Jamaica settled with a loss of 9 cents at $1.11, with 87,688 units. Sagicor Group jumped $4.99 to a record $39.99, with 52,394 shares, Sagicor Real Estate Fund closed with a loss of 8 cents at $13, after trading 3,100,000 units, Scotia Group fell 96 cents to $50, with 91,270 stock units, Seprod settled with a loss of $1.50 at $28.50, with 8,160 shares and Supreme Ventures finished with a loss of 60 cents at $9.50, with 306,999,685 stock units changing hands. In the main market preference segment, JMMB Group closed at $1.15, with 600 units and in the US dollar market Productive Business Solution rose 0.25 US cents in trading 2,300 units to close at 60 US cents.