Prices surged on the main market of the Jamaica Stock Exchange, to close on Wednesday at a new closing high as the main market indices were up by more than 4,000 points. The market ended with the All Jamaica Composite Index climbing 23.5 percent for the year to date, the JSE market index gaining 25.6 percent and the Combined index rising 27.6 percent.
The All Jamaica Composite Index had sharp uptick of 4,561.30 points, to close at 206,750.96. The JSE Market Index surged 4,078.62 points to finish at 189,246.69. The JSE combined index jumped 3,991.66 points to close at 201,943.16.
Market activity ended with 36 securities changing hands. At the close, the prices of 13 stocks gained while 8 declined in the overall market, including 4 stocks rising and 3 falling, in the junior market.
At the close with 4,343,022 units valued at $31,074,893 changed hands, compared to 4,431,672 units valued at $71,950,263 changing hands on Thursday. Of the stocks traded, the junior market accounted for 2,545,501 units changing hands, valued at $2,533,304.
The average trade for the day in the main market ended at 81,706 shares compared to an average of 167,153 units traded on Friday. The average for the month to date stands at 202,375 shares compared to an average of 323,045 units for the month up to Friday. November ended with an average of 208,466 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 13 stocks with bids higher than their last selling prices and 7 with lower offers.
Some notable stocks with bids above the last sale price are Kingston Wharves with a bid of $21 versus the last price of $20.01 Pan Jam with a bid of $27.50 versus the last price of $27 and Seprod with a bid of $29.80 with a last sale of $27.50.
In market activity, Barita Investments closed with a gain of 45 cents to $6 with 59,690 shares trading, Berger Paints traded 14,000 shares to end at $5.60, Cable & Wireless rose 2 cents to close at 72 cents with 98,075 units trading, Caribbean Cement ended with gain of $4.70 while trading 25,306 shares at $35.40. Ciboney traded 257,346 shares at 22 cents, Grace Kennedy closed at $41 with 7,900 shares changing hands, Jamaica Broilers closed at $14.08 with 7,515 shares changing hands, Jamaica Producers lost 30 cents to end at $8.85 with 968,280 units trading, Jamaica Stock Exchange fell 4 cents in trading 5,325 shares, to end at $5.55. Mayberry Investments fell 10 cents to end at $5.40 with 63,413 shares changing hands, National Commercial Bank rose 76 cents to end at $49.76 with 27,850 shares changing hands, PANJAM Investment traded 2,000 shares to close at $27. Pulse Investments traded 115,621 shares with a fall of 90 cents to close at $3, Radio Jamaica traded 80,000 shares to close at $1.22 after rising 2 cents, Sagicor Group closed with 8,250 shares changing hands at $30, Scotia Group with just 5,000 shares changing hands and closed with a gain of 99 cents at $34.99 and Proven Investments closed at 21.95 US cents up from 21.05 US cents, with 37,735 units changing hands.
JSE jumps 2,448 points – Monday
Just over half an hour passed after trading opened on the Jamaica Stock Exchange on Monday for the first trade to take place and nearly an hour passed before any trade took place in the junior market but the market indices urged to new records with a some big jump.
Trading saw Cargo Handlers hit a new high of $16 but with only 300 shares changing hands and Caribbean Flavours also traded at a new high of $13. Iron Rock Insurance traded 515,000 shares at $4.30, Jamaica Stock Exchange traded 123,200 shares at $5.60, Mayberry Investments has so far traded 62,287 shares at $5.50 and Supreme Ventures 143,313 units at $5.
Market activity has been moderate resulting in 23 securities traded at 10:45 am, compared to 22 on Friday at 11:55 am. A total of 13 securities advanced and 3 declined, resulting in a volume of 1,109,562 shares changing hands carrying a value of $9,413,375, compared 4,246,518 shares changing hands carrying a value of $53,841,841. The average number of shares traded, amount to 48,242 units versus mere 193,024 units on Friday.
The all Jamaica Composite Index surged 2,454.35 points to 204,391.23, the Jamaica Stock Exchange Market Index jumped 2,191.63 points to 187,136.67, the Jamaica Stock Exchange combined index pumped up 2,449.53 points to be at 199,445.66 and the junior market index blasted to a new high with an increase of 40.32 points to be at 2,520.93.
A unique listing could be your next IPO
There is no listing even close to the next likely listing slated after Main Event comes to market, on the Jamaica Stock Exchange. It has no walls, no buildings, no one place of business, no borders, yet it could be a most profitable venture for investors.
Mayberry Investments, the broker bringing the Main Event IPO to market seems set to be the broker bringing this unique listing to the market by January as the Jamaica Stock Exchange opens up to some never before thought of companies that can be listed.
The junior market started off with a most unique company, Access Financial in 2010. That it was a financial entity was not unique, but lending to the lower end of the market was seen by many as a sure way to give away capital and making good Profit was unique at least to stock market investors. The IPO was greeted by howls of outcry of the rape that the promoters were inflicting on the investing public. History has proven the naysayers wrong and that first listing set the stage for one of the most successful ventures that the local stock exchange has pursued.
Jetcon, a used car dealer, caused the eyes of many to pop in bewilderment as they never conceived that such a venture could interest investors much less prosper. Main Event can be considered unique but the next listing lined up, is so different from the others, that it is bound to cause investors to wonder and ponder about it for a long time.
Since 2010, UCC has extended the opportunities for students in Jamaica and the Caribbean to experience a higher education through its online accredited degree programmes.
The prospectus is at an advanced stage with a few matters to be sorted out IC Insider source stated.
Main Event Entertainment set for junior market
It now appears that the junior market is again open for business, well sort of. Attracted by the tax free status, junior listings received, the planned phasing out of the tax free element, resulted in the last listing taking place in March this year, just days before the tax break for new listings was to have ended.
The new government elected in February, promised full restoration of the tax status. The senate recently passed legislation allowing for special tax regime for junior market listed companies to continue, opening up the market place for unleashing a new wave of listings.
Come Friday, Mayberry Investments officially launches their latest IPO with an Investor briefing for Main Event Entertainment Group, a unique company that is in the business of management. The business is that of event management, production, promotions, and digital signage. More specifically they provide event management, production, audio, video, lighting, staging, roofing, power supply, digital signage and management, concept development, creative development, infrastructural build-outs.
The principals include Solomon Sharpe CEO and formerly of Desnoes and Geddes, Richard Bair, Chief Operating Officer, formerly employed at Porter Brothers and Donna Waithe, Director HR and Administration with 23 years of experience in the aviation sector at Air Jamaica. The company was established 2004 and employs between 51 to 200 full time and part time employees.