Junior Market retreats from record close

The Junior market retreated from record high on Monday.

The Junior Market retreated from the record close when trading resumed on Tuesday, with the market index declining by 23.46 points to close at 3,369.12, to sit just below the previous record closing high of 3,375.24, on May 24, last year.
Trading resulted in 25 securities, compared to 30 that changed hands on Monday, leading to 9 advancing, 9 declining and 7 remaining unchanged. Indies Pharma was the only security that closed at record high on Tuesday, as investors exchanged 2,700,219 units valued at $10,803,399, compared to 1,652,479 units valued at $6,242,412 on Monday.
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 108,009 units for an average of $432,136 in contrast to 63,557 units for an average of $240,093 on Monday. Trading for the month to date averages 898,015 units for an average of $5,501,550 and on the prior trading day, an average of 1,021,454 units for an average of $6,293,646. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed at $46, trading 20,000 shares, AMG Packaging ended trading of 80,806 stock units and lost 4 cents in closing at $1.90, Blue Power fell 25 cents in trading 91,899 shares at $5.75, Caribbean Producers traded 215,385 units to close at $6, Derrimon Trading ended with a decline of 99 cents at $3, in the exchange of 457,427 shares. Elite Diagnostic finished at $3.16, with 11,300 stock units changing hands, Everything Fresh rose 3 cents in trading 724,980 shares to end at $2.43, Express Catering ended trading of 77,833 shares, 18 cents higher at $8.18, FosRich Group traded with a loss of 10 cents at $2.90, with 30,160 shares changing hands, GWest Corporation closed at $2.15, with 66,623 stock units trading. Honey Bun fell 10 cents to $3.90, trading 475 units, Indies Pharma gained 36 cents with 317,221 shares changing hands to end at a record closing high of $3.60, Iron Rock concluded trading of 299,025 shares with a fall of 30 cents at $3.20, Jamaican Teas settled at $4.20, exchanging just 1,059 shares, Jetcon Corporation ended trading 69,700 stock units and rose 8 cents higher to $3.95. KLE Group finished trading of 15,000 shares at $3, Knutsford Express closed with a loss of $1.20 at $11.50, with 28,316 shares trading, Lasco Distributors ended 5 cents higher at $4.05, while exchanging 67,800 shares, Lasco Financial concluded trading of 83,248 stock units after falling 13 cents to $5.77. Lasco Manufacturing closed 1 cent higher at $4.01, with 15,416 units being swapped, Main Event settled 4 cents higher at $6.02, trading 6,600 shares, Medical Disposables ended trading of 5,000 shares and gained 3 cents to $6.70, Paramount Trading ended 3 cents higher at $2.75, exchanging 464 shares and Stationery and Office finished trading with a loss of 15 cents at $8.70, with 13,982 stock units trading.

Prices of securities trading for the day are those at which the last trade took place.

NCB Financial still key stock to watch

NCB closed $2 higher on Friday.

Bulls pushed he Jamaican stock market, to new heights last week, with more gains expected this week with the strong likelihood that the Junior Market will clear the historical high reached in 2017..
NCB Financial played an important role in the market movement last week for the main market and Derrimon Trading chipped in for the Junior Market, these were not the only contributors to the gains in in the market last week.
Investors should keep their eyes on a number of stocks this week. NCB that closed on $115, should move higher this week as demand continues to build and with limited supply on offer. Scotia Group last trade was at $59.50 but the price could pull back before they release results for the July quarter on Wednesday. Those results could set the stage for price movements over the next few weeks. With PE ratios rising even a modest increase in profits could see the price moving into record territory.
Grace Kennedy may not be ready to break out of the $60 range as yet but it’s a stock to keep an eye on. Caribbean Cement keeps trading between $46 to $50, but there appears no real desire to move the price forward. Kingston Wharves closed the past week at a record high of at $68.50 and seems poised to move higher but the PE ratio of 44 is compared to a market average of 14, is scary. Supply of the stock remains low, with just two offers of 6,813 shares are displayed. Sygnus Credit Investments picked up last week buoyed by full year results in line with expectations of US$1.4 million. Demand should carry over into the current week and could lift the price further. Jamaica Producers has very limited volume on offer mostly in the higher $20 region while demand is building at $19 and just below.
In the Junior market, Indies continue with strong demand existing for the stock, with news of potential acquisition and new products, the stock is worth watching for more gains. Demand is building for Elite Diagnostics while supply has waned. General Accident could move higher as more demand comes in for it with limited selling, but investors may not want to be more aggressive with this stock at this time. If the company were to announce expansion into the Eastern Caribbean it may well make a difference.
Caribbean Flavours continues to slowly move higher and could do the same this week. There is no certainty the Derrimon Trading will rise any higher now that the price is in the mid three to four dollar level but must be watched. Medical Disposables, should be on the watch list for investors.
Stocks with scarce supplies that could spring surprises include Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group.
The Junior Market supplies continue to be limited for many of the listings. The list includes, Caribbean Flavours, Cargo Handlers, Derrimon Trading, Express Catering, General Accident, Caribbean Cream, Medical Disposables and Stationery and Office Supplies.
An overall view of stocks indicates that the main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below. The Junior Market now at a 15 months’ high, is being steered by an upward rising long-term support line and a golden cross. The golden cross is a very strong bullish long-term signal.

Junior Market inching closer to record close

The Junior Market Index continues to move higher in search of a record high close.

The Junior Market Index advanced just 3.80 points to close at 3,312 on Friday, after touching 3,365 points, after just 20 minutes of market’s opening, to be just 10 points below the all-time high of 3,375.24 points reached in May last year.
Trading resulted in 30 securities, compared to 25 that changed hands on Thursday, leading to 8 advancing, 7 declining and 15 remaining unchanged.
Trading resulted in an exchange of 150,624,130 units valued at $942,907,794 compared to 2,641,236 units valued at $11,671,251 on Thursday. Express Catering fresh from reporting a near tripling of full year profit, traded a big block of 147,375 million shares with value of $912.23 million at $6.19 each. A check with the list of share holder show that the trade most likely came from National Insurance Fund from a holding of 181.783 million units which they held prior to Friday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 6 stocks ending with bids higher than their last selling prices, 2 closed with lower offers.
Trading closed with an average of 5,020,804 units for an average of $31,430,260 in contrast to 105,649 units for an average of $466,850 on Thursday. Trading for the month to date averages 1,207,314 units for an average of $7,396,642 and on the prior trading day, an average of 107,269 units for an average of $463,868. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed at $46, after investors cleared out the remanence of a block 445,392 shares that were on offer for several weeks, at the close there was a bid to buy 288,915 at $46 with selling now at $50. AMG Packaging ended with a loss of 1 cent at $1.94, in exchanging 1,000 stock units, Blue Power concluded trading of 15,123 units at $6, Cargo Handlers settled 20 cents higher at $13, exchanging 24,403 shares, Caribbean Cream fell 11 cents to close at $5.89, trading 53,205 stock units, Caribbean Flavours ended trading of 9,800 shares at $19.87, Caribbean Producers traded 1,000 stock units at $5.50, Consolidated Bakeries lost 5 cents to end at $2.45, with 50,000 units changing hands, Derrimon Trading closed with a gain of 50 cents to a new 52 weeks’ closing high of at $3.20, with 226,310 shares, earlier in trading the price hit $3.90. Elite Diagnostic concluded trading at $3.12, with 9,695 shares changing hands. Eppley finished with a loss of 13 cents at $10.05, trading 6,100 stock units, Everything Fresh rose 15 cents in trading 497,847 shares to end at $2.35, Express Catering settled with a loss of 10 cents at $7.90, with 147,638,521 units changing hands, but only after the bulk of the trades took place at $6.19 cents in the morning session. FosRich Group ended trading 37,874 shares 1 cent higher at $3, General Accident traded with a loss of 4 cents at $4.25, in exchanging 8,500 shares. Indies Pharma gained 2 cents as it continues to trade in relatively heavy volume, ending the day with 1,437,108 shares changing hands to close at $3. Iron Rock ended 30 cents higher at $3.50, with 10,000 units changing hands, ISP Finance concluded trading 600 shares at $20, Jetcon Corporation settled at $4.10, with 16,940 shares, Knutsford Express finished trading of 100 shares at $12.70. Lasco Distributors closed at $4, exchanging 46,485 shares, Lasco Financial ended at $5.90, trading 36,879 shares, Lasco Manufacturing concluded trading of just 3,165 stock units at $4.01, Main Event suffered a sharp drop of $1.80 to $5.20, with 6,848 units trading. Medical Disposables settled at $6.67, trading 3,548 shares, Paramount Trading ended trading of 2,000 shares at $3, Stationery and Office rose by 25 cents to $8.85, swapping 10,950 shares and tTech closed at $6, with 3,212 units. In the junior market preference segment, Derrimon Trading concluded trading with a rise of 1 cent to $2.51, with 20,000 units changing hands and Eppley 8.75% settled at $6, with 1,525 shares trading,
Prices of securities trading for the day are those at which the last trade took place.

Junior Market slips

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Derrimon Trading ended trading at a new closing high of $26.99 on Tuesday.

More prices fell than rose in trading on the Junior Market on Tuesday, with 28 securities being active compared to 26 on Monday, leading to 7 advancing, 10 declining while 11 remained unchanged.
The market closed with the index slipping 6.28 points to close at 3,265.74. Trading resulted in an exchange of 2,437,685 shares valued at $12,670,997 compared to 2,306,821 units valued at $10,660,960, on Monday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 8 stocks ending with bids higher than their last selling prices, 2 closed with lower offers.
Trading closed with an average of 87,060 units for an average of $452,536 in contrast to 88,724 units for an average of $410,037 on Monday. Trading for the month to date averages 87,861 shares with an average value of $432,073. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 2 cents at $1.92, trading 40,000 stock units, Blue Power concluded trading of 56,207 units and rose 3 cents to $5.03, Cargo Handlers settled with a loss of 48 cents at $12.52, with 14,210 shares changing hands, Caribbean Flavours traded at $19, in exchanging 200,000 stock units, Caribbean Producers finished trading 4,615 units at $6.50. Consolidated Bakeries closed with a loss of 5 cents at $2.45, with 2,100 shares changing hands, Derrimon Trading jumped $3.99 to end at a 52 weeks’ closing high of $26.99, with 4,177 shares changing hands, Dolphin Cove concluded trading of 1,000 shares at $17, Elite Diagnostic finished with a loss of 1 cent at $3, trading 15,996 stock units. Everything Fresh rose 5 cents in trading 170,499 shares to end at $2.25, Express Catering ended trading 17,421 shares with a loss of 45 cents to close at $7.55, FosRich Group traded with a loss of 19 cents at $2.80, in exchanging 589 shares, General Accident finished trading 11,700 shares and climbed 44 cents to $4.29, Honey Bun ended 15 cents higher at $4.45, with 1,000,200 units changing hands. Indies Pharma closed at a new high of $2.90, after adding 21 cents and exchanging 367,022 shares, Jamaican Teas settled at $4.20, exchanging 205,000 shares, Jetcon Corporation ended trading 158,000 stock units at $4, KLE Group finished trading with a loss of 25 cents at $3.05, with 12,342 shares, Knutsford Express closed with a loss of 10 cents at $12.50, with 3,016 shares changing hands. Lasco Distributors ended at $4, with 31,661 shares trading, Lasco Financial concluded trading of 1,409 stock units with a loss of 20 cents at $5.60, Lasco Manufacturing finished 10 cents higher at $4, trading 40,100 units, Main Event settled with a loss of 10 cents at $7, with 3,000 shares changing hands. Medical Disposables ended trading at $6.67, with 1,400 shares, Paramount Trading traded 7,892 shares at $3, Stationery and Office finished trading 20,378 stock units at $8.50 and tTech ended at $6, with 3,217 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market opens September positively

Cargo Handlers hits 52 weeks’ high.

Trading slipped on the Junior Market on the first trading day of September, with 26 securities being active down from 30 on Friday as well as a fall in volume and value trading, leading to 10 advancing, 7 declining and 9 remained unchanged.
The market closed with the index rising 21.55 points to close at 3,272.02. A volume of 2,306,821 units valued at $10,660,960 changed hands, compared to 4,503,036 units valued at $56,383,723, on Friday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 4 stocks ending with bids higher than their last selling prices, 3 closed with lower offers.
Trading closed with an average of 88,724 units for an average of $410,037 in contrast to 150,101 units for an average of $1,879,457 on Friday. 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 loss of $1.82 at $41.50, trading 1,000 shares, AMG Packaging ended 1 cent higher at $1.94, with 27,913 stock units changing hands, Blue Power concluded trading at $5, swapping 87,428 units, CAC 2000 finished with a loss of 5 cents at $9, exchanging 1,640 shares, Cargo Handlers settled 50 cents higher to end at a 52 weeks’ high of $13, trading 100 shares. Caribbean Cream ended trading 21,839 shares, 30 cents higher to $6, Caribbean Flavours traded with 50,000 stock units $1 higher to $19, Caribbean Producers finished trading at $6.50, with 787,109 units changing hands, Consolidated Bakeries closed at $2.50, exchanging 5,200 shares. Derrimon Trading ended with a loss of 1 cent at $23, trading 20,000 shares, Everything Fresh rose 10 cents trading 747,370 shares to end at $2.20, Express Catering ended trading 16,578 shares with a loss of 18 cents to $8, FosRich Group traded at $2.99, with 41,661 shares changing hands, General Accident finished trading 12,100 shares 5 cents higher at $3.85, with. Indies Pharma traded at a new high of $2.80 but pulled back to close at $2.69 after adding 9 cents and exchanging 141,895 shares, Iron Rock concluded trading of 17,500 shares and rose 5 cents to $3.25, Jetcon Corporation ended trading with a loss of 2 cents at $4, in exchanging 59,711 stock units, Lasco Distributors ended with a loss of 5 cents at $4, with 34,918 shares changing hands, Lasco Financial concluded trading 1,737 stock units at $5.80. Lasco Manufacturing finished at $3.90, with 49,500 units, Main Event settled with a loss of 1 cent at $7.10, with 207 shares changing hands, Medical Disposables ended trading with a loss of 1 cent at $6.67, with 15,300 shares, after trading earlier at a 52 weeks’ high of $6.70, Paramount Trading climbed 40 cents higher to $3, trading 3,000 shares, Stationery and Office finished trading at $8.50, with 6,157 stock units and tTech ended 50 cents higher at $6, after 11,000 shares changed hands.
Prices of securities trading for the day are those at which the last trade took place.

 

NCB Financial remains on high alert

The Jamaican stock market, scaled new heights last week, helped by NCB Financial hitting a record high of $115, as supply of the stock being sold remains limited.
More buying came in for the stock on Friday and investors should be on the watch again as the price could go higher during the current week.
Grace Kennedy is another of the main market stocks to keep an eye on, as it slowly tries to move higher. Caribbean Cement moved back to $50, on Friday and could go further in this week as increased demand came in for the stock. It clearly one to watch but investors will need to determine if Friday’s move is a part of the usual month end window dressing. Kingston Wharves closed at $61.80 but traded as high as $65, supply remains low, thus favouring further price gains, even as the stock is carries by far the highest PE in the market. Watch for Scotia Group that should be releasing third quarter results, this week Thursday and Sygnus Credit Investments that posted full year results in line with expectations of US$1.4 million.
In the Junior market, Indies continue with strong demand existing for the stock, with news of potential acquisition and new products, the stock is worth watching for more gains. General Accident could move higher as more demand comes in for it with limited selling.
Caribbean Flavours seems to be following its parent, Derrimon Trading, continuing to rise with limited volume on sale currently. Medical Disposables, declined during the previous week, recovered last week and .should be moving higher going forward, continue to watch this one, as well as Derrimon Trading that has contracted to distribute products of a Trinidad producer.

Kingston Wharves jumped to close at $60 on Tuesday.

Stocks with scarce supplies that could spring surprises include Barita Investments, Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group. The main market is not the only segment with limited supplies. The Junior Market supplies continue to be limited for many of the listings. The list includes, Caribbean Flavours, Cargo Handlers, Derrimon Trading, Express Catering, General Accident, Caribbean Cream, Medical Disposables, Stationery and Office Supplies and tTech.
An overall view of stocks indicates that the main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below. The Junior Market now at a 15 months’ high, is being steered by an upward rising long-term support line and a golden cross. The golden cross is a very strong bullish long-term signal.

Junior Market up 19% for 2018 – Friday

Trading picked up on the Junior Market with 30 securities being active up from 27 on Thursday leading to 14 advancing, 8 declining and 8 remained unchanged.
The market closed with the market index rising 32.89 points to close at 3,250.47, lifting the market 5.5 percent for August and 19 percent for the year to date. A volume of 4,503,036 units valued at $56,383,723 hanged hands, compared to 3,136,408 units valued at $17,262,540, on Thursday. The stocks with the leading trades were Caribbean Flavours, Caribbean Producers and Derrimon Trading with more than a million units each.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 8 stocks ending with bids higher than their last selling prices, none closed with a lower offer.
Trading closed with an average of 150,101 units for an average of $1,879,457 in contrast to 116,163 units for an average of $639,353 on Thursday. The average volume and value for the month to date amounts to 244,613 units at $1,348,298, compared to 254,559 units at $1,270,673 on the previous trading day. Trading in July, averaged 154,060 units valued at $655,146 for each security traded.
At the close of trading, Access Financial traded 483 shares and closed 32 cents higher at $43.32, AMG Packaging gained 3 cents to end at $1.93, trading 5,976 stock units, Blue Power concluded trading at $5, with 14,091 units changing hands, Cargo Handlers ended 50 cents higher to close at $12.50, trading 7,520 stock units, Caribbean Cream settled 40 cents higher at $5.70, exchanging 50,000 shares, Caribbean Flavours ended trading with a loss of 1 cent at $18, with 1,108,594 shares changing hands. Caribbean Producers traded 1,265,538 shares with a loss of 30 cents at $6.50, Derrimon Trading closed 50 cents higher at $24, exchanging 1,031,000 shares, Dolphin Cove finished with 8,090 shares changing hands and rose 50 cents to $17, Elite Diagnostic ended with a loss of 9 cents at $3.01, trading 31,215 shares, Everything Fresh fell 2 cents in trading 250,585 shares to end at $2.10, Express Catering concluded trading 13,125 shares and rose 17 cents to close at $8.18. FosRich Group finished at $2.99, with 3,000 stock units changing hands, General Accident settled with a loss of 65 cents at $3.80, with 103,000 units traded, GWest Corporation ended trading 10,000 shares, with a loss of 6 cents to $2.12, Honey Bun traded with a loss of 13 cents at $4.30, exchanging 67,455 shares. Indies Pharma traded 867,462 shares but fell 10 cents to end at $2.60, Iron Rock finished trading with a loss of 5 cents at $3.20, in exchanging 37,200 shares, ISP Finance closed $4 higher at $20, with 1,367 stock units changing hands, Jamaican Teas ended 21 cents higher at $4.20, with 33,821 unit being traded, Knutsford Express closed 10 cents higher at $12.60, with 20,000 shares changing hands, Jetcon Corporation concluded trading of 11,676 shares at $4.02, KLE Group settled at $3.30, with 1,400 shares trading, Lasco Distributors ended trading 15 cents higher at $4.05, with 2,595 stock units changing hands, Lasco Financial traded at $5.80, with 22,192 units, Lasco Manufacturing finished trading with a loss of 10 cents at $3.90, while exchanging 21,200 shares. Main Event closed at $7.11, with 23,654 shares changing hands, Medical Disposables climbed $1.58 higher to $6.68, with 32,868 shares, Stationery and Office finished 35 cents higher at $8.50, exchanging 19,132 units and tTech ended trading 30 cents higher at $5.50, as 73,800 shares changed hands.

Losses = gains in Junior Market trading – Wednesday

The Junior Market closed trading on Wednesday in a tug of war between advancing and declining stocks with the market ending with 12 each being up and down, as advancing stocks just having the upper hand in steering the market index higher.
At the close, the market index rose 15.68 points to close at 3,220.77, with 28 securities changing hands, the same number on Tuesday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 8 stocks ending with bids higher than their last selling prices, 1 closed with a lower offer.
The market closed with the prices of 12 advancing, 12 declining and 4 remaining unchanged and resulted in an exchange of 9,172,835 units valued at $44,109,271, compared to 2,149,308 units valued at $9,485,152 on Tuesday.
Trading closed with an average of 92,758 units for an average of $861,650 in contrast to 327,601 units for an average of $1,575,331 on Tuesday. The average volume and value for the month to date amounts to 262,510 units at $1,306,941, compared to 273,263 units at $1,335,149 on the previous trading day. Trading in July, averaged 154,060 units valued at $655,146 for each security traded.
At the close of trading, Access Financial traded 1,150 shares and fell $5 to $40, AMG Packaging fell 5 cents to end at $1.90, trading 23,300 stock units, Cargo Handlers settled with 510 shares trading to end at $11.20, Caribbean Cream traded 3,590 shares at $5.30, Caribbean Flavours traded 536,025 stock units to close at $18 after trading at a 52 weeks’ high of $19, Caribbean Producers finished trading 12,500 units but fell 25 cents at $6.65. Consolidated Bakeries closed with a rise of 13 cents at $2.50, with 112,000 shares changing hands, Derrimon Trading dropped $1.50 and ended at $23.50, with 374,140 shares, Dolphin Cove lost 50 cents in trading just 238 shares at $16.50, Elite Diagnostic lost 10 cents and finished at $3, exchanging 308,958 stock units. Everything Fresh fell 8 cents in trading 89,500 shares to end at $2.12, Express Catering ended trading 16,022 shares and rose 1 cent to close at $8.01, FosRich Group traded 25 cents down to $2.75, while exchanging 424,072 shares, General Accident lost 5 cents and finished trading of 73,296 shares at $3.80. Honey Bun lost 7 cents and ended at $4.43, with juts 1,000 units trading, Indies Pharma traded 269,311 shares and rose 20 cents to end the highest level since its recent listing at $2.70, Iron Rock concluded trading of 100,000 shares with a loss of 5 cents at $3.25, Jamaican Teas added 4 cents and settled at $3.99, with 3,430 shares. Jetcon Corporation ended trading 39,658 stock units with a gain of 10 cents to end at $4.10, Key Insurance traded 2,000 shares and rose 2 cents to close at $3.08, KLE group rose 5 cents to $3.05 trading 3,500 shares, Knutsford Express climbed $1 to close at $12.50, with 9,690 shares changing hands, Lasco Distributors rose 10 cents to $4, trading 21,231 shares, Lasco Financial rose 20 cents with 16,313 stock units trading at $5.80. Lasco Manufacturing rose 4 cents and closed at $3.90, with 81,358 units, Main Event settled at $7, in trading 3,000 shares, Stationery and Office ended trading 69,158 stock units after falling 50 cents to close at $8.35 and tTech closed 3 cents higher to $5.10, trading 2,172 units.

Prices of securities trading for the day are those at which the last trade took place.

NCB on high watch alert

The stock worth watching this week is NCB Financial Group that jumped last week to $110, a price last seen last year November. With limited supply for sale and the year-end approaching, this stock seems set for $150 by early 2019, if not before.
NCB Financial Group recorded net profit of $20.9 billion for the nine months ended June, with profit attributable to stockholders of $20.7 billion, for an increase of 40 percent over the prior year. The figure includes one off gains of $4.4 billion from acquisition of a subsidiary. Importantly, third quarter profits rose a strong 30 percent to $6.8 billion over the 2017 quarter.
Grace Kennedy is another of the main market stocks to keep an eye on as it slowly tries to move higher. The price of Caribbean Cement has been seesawing between $45 and $52, but in a bull market one never knows when the break will come. Kingston Wharves close with the bid at $61 to but 58,300 shares and last traded at $53. In the Junior market, Indies Pharma continues to scale new highs with strong demand existing for the stock. General Accident could move higher as more demand comes in for it, with limited selling.
Caribbean Producers has been trading well with an upward bias and could continue in this vein until full year’s results are released. Caribbean Flavours seems to be following it parent, Derrimon Trading and continues to rise on limited selling volume. Medical Disposable sold down during the past week and could recover in the coming days.
Regardless of what happens to individual stocks, there is little doubt that the summer rally is on for Jamaica stocks and is being helped by some good results for a number of the companies. The rally is expected to continue until year end barring any major negative development.

Kingston Wharves stock price sets to hit $61 

Stocks with scarce supplies that could spring surprises include, Barita Investments, Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group. The main market is not the only segment with limited supplies. The Junior Market supplies continue to be limited for many of the listings. The list includes, Blue Power, Caribbean Flavours, Cargo Handlers, Caribbean Producers, Derrimon Trading, Express Catering, General Accident, Caribbean Cream, Medical Disposables, Stationery and Office Supplies and tTech.
An overall view of stocks indicates that the main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below. The Junior Market now at a 15 months’ high, is being steered by an upward rising long-term support line and a golden cross. The golden cross is a very strong bullish long-term signal.

Modest gain for Junior Market – Friday

Lasco Manufacturing traded 7 million shares

The Junior Market, closed with the market index rising 15.28 points to 3,192.42, during Friday’s session the index rose as much 51 points but receded towards the end.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 3 stocks ending with bids higher than their last selling prices, 1 closed with a lower offer.
The market closed with 26 securities changing hands, compared to 30 on Thursday, resulting in the prices of 10 advancing, 6 declining and 6 remaining unchanged.
The day’s trading ended with 15,120,642 units valued at over $55,182,607 changing hands, compared to 15,342,524 units valued at $89,754,042 on Thursday. While the traded volume was dominated by Caribbean Producers with 11.58 million shares and Indies Pharma with nearly 2.48 million units, Friday closed with Lasco Manufacturing contributing 7 million units followed by Key Insurance with 3.68 million units, Lasco Distributors with 2.59 million shares while Indies Pharma chipped in with 887.7 thousand shares.
Trading closed with an average of 687,302 units for an average of $2,508,300 in contrast to 590,097 units for an average of $3,452,079 on Thursday. The average volume and value for the month to date amounts to 280,667 units at $1,375,747, compared to 256,357 units at $1,308,040 on the previous trading day. Trading in July, averaged 154,060 units valued at $655,146 for each security traded.
At the close of trading, Blue Power concluded trading 500 units at $47, Caribbean Cream lost 32 cents and closed at $5.30, trading 71,500 shares, Caribbean Flavours traded 50 cents higher at $16, with 6,481 stock units, Caribbean Producers finished trading 2,740 units and rose 19 cents to $6.79, Derrimon Trading concluded trading with a loss of $1.57 down to $21, exchanging 74,100 shares. Elite Diagnostic settled with a loss of 15 cents at $3, trading 296,533 units, Everything Fresh traded 141,505 shares and ended at $2.20, Express Catering traded 3,965 shares and rose 30 cents to $8.30, General Accident closed 19 cents higher at $3.80, with 197,170 stock units changing hands, GWest Corporation ended at $2, trading 29,592 units. Honey Bun concluded trading at $4.50, with 10,205 shares, Indies Pharma pulled back 6 cents in trading 887,723 shares to end at $2.54, after trading at an all-time high of $2.70 during the day, Jamaican Teas ended trading with a loss of 5 cents at $4.25, with 6,032 stock units, Jetcon Corporation added 2 cents at $4.01 and traded 53,353 shares, Key Insurance traded 3,684,607 shares and rose 1 cent to $3.06. Lasco Distributors concluded trading with a loss of 10 cents at $3.85, while exchanging 2,589,994 stock units, Lasco Financial finished 40 cents higher at $5.90, with 26,226 units traded, Lasco Manufacturing settled 12 cents higher at $3.85, with 7,001,050 shares, Medical Disposables closed at $5.10, as 16,166 shares changed hands. Paramount Trading finished trading 10,000 stock units at $3, Stationery and Office closed 10 cents higher at $8.60, exchanging 1,600 units and tTech concluded trading of 9,600 shares while rising 49 cents higher to $5.50.

Prices of securities trading for the day are those at which the last trade took place.