The Jamaica stock market has recorded mixed fortunes in early trading as the main market recorded gains in the main indices while the junior fell marginally.
A total of 28 securities traded as 14 stocks rose and 10 declined as 2,251,318 units traded.
At 10:45 am, the all Jamaica Composite Index is climbed 605.13 points to 159,773.14, the JSE Market Index rose 541.48 points to 143,900.43 the JSE combined index gained 462.15 points to be at 150,357.47 and the junior market index was down 5.50 points to 1,623.24.
Interesting trades, with 75 minutes having elapsed, National Commercial Bank traded 150,000 shares at $38..37, Scotia Group traded as high as $30.99 but fell back to $29 as the price rose by 50 cents, Lasco Manufacturing traded 381,180 at $3 and Pan Jam had 86,693 units trading at $92.21.
Majors up juniors down on JSE in early trading
JSE starts November positively
NCB’s new Constant Spring Rd. branch the company’s stock last traded at $36 on Monday
A total of 37 securities traded leading to 6,392,200 units valued at $48,320,406 hanging hands, in all market segments. A total of 21 securities rose and 10 declined with 6 stocks ended at 52 weeks’ closing highs and 2 at an intraday 52 weeks’ high.
The JSE Market Index shot up 905.92 points to 132,189.96, the all Jamaica Composite Index gained 1,012.42 points to end at 146,686.03. JSE combined index and climbed 1,059.06, points to end at 136,842.10. All Three indices are at new closing highs.
IC bid-offer Indicator At the end of trading, in the main and junior markets, the <strong> Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and one with an offer that was lower.
In trading, Barita Investments ended at a 52 weeks’ closing high, of $2.90 as the price gained 15 cents while 50,000 shares were traded, the stock closed with the bid at $3 to buy 60,000 shares, no stocks were offered at the close.
Cable and Wireless continued under selling pressure and closed with a loss of 36 cents, with 1,456,839 shares changing hands to end at 94 cents. Trading in the stock was between 94 cents and $1.20 and it closed with a bid at 85 cents, to buy 57,000 shares. On the offer were 800,562 shares at 94 cents. By the close the number of offers increased dramatically and now total 36, ranging up to $3.10, for a total of 9.5 million units down from 10,689,005 units on Friday. Caribbean Cement rose 27 cents to end at $18, with 27,310 shares changing hands. Carreras ended with 5,212 shares trading at $53.05, Desnoes & Geddes had 53,472 units changing hands, to close at $30, Gleaner Company traded 948,928 shares to end at $1.90, Jamaica Broilers traded 145,457 shares to close at $9 as the price gained 12 cents. Jamaica Stock Exchange closed with 56,824 shares trading to endat $11, JMMB Group traded 172,798 shares to close with a rise of 34 cents to end at $9.85. Kingston Wharves traded 13,193 units to close at $10.60 for a new 52 weeks’ high, Mayberry Investments rose 2 cents to end at $4.02, by trading 38,701 shares. National Commercial Bank with 14,604 shares changing hands jumped $3.50 to end at $36, for a new 52 weeks’ high.
Pan Jamaican traded 9,124 shares to end $4.88 cents higher, at $85, Radio Jamaica closed at a new 52 weeks’ high of $4.50 to gain 50 cents in trading 31,200 shares. Sagicor Group fell 15 cents with 102,492 shares trading, to close at $14.51, Sagicor Real Estate Fund traded 69,495 units, the price closed down 60 cents at $11, Scotia Group ended with 11,923 shares changing hands and closed at $26.17, after falling by 81 cents. Scotia Investments gained 50 cents to close at $28 as 936,435 units traded, Supreme Ventures ended at $4.20 with 581,769 units changing hands and Proven Investments ordinary share, closed with a fall of 0.9 US cents, with 24,650 units traded, to end at 23 US cents.
JSE records huge gain on Wednesday
D&G gained $10.77 to push JSE index with all-time record gain
The stock exchange main market is now 11,648.72 points or 8 percent away from the record close of 138,917.59 reached on 24th of January 2005. A total of 23 stocks rose, with 3 declining as 36 securities, totalling 11,897,638 units valued at $70,427,255 changing hands, in all market segments. 1 junior market and 2 main market stocks ending at new 52 weeks’ closing highs, 1 trading at a 52 weeks’ intraday high and one closed at an all-time low. The JSE Market Index shot up by 8,692.24 points to 114,815.31, and the JSE combined index jumped 7,728.74 points to end at 119,161.07.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 11 stocks with bids higher than their last selling prices and 4 with offers that were lower.
In trading, Berger Paints traded 899,350 shares at $2.50 and gained 20 cents Cable and Wireless closed with an 8 cents increase with 210,000 shares changing hands to close at 60 cents, Caribbean Cement closed at to $10 with 14,620 shares changing hands, but traded at an intraday 52 weeks’ high of $10.99. Carreras traded 67,666 shares at $51 to gain 40 cents. Desnoes and Geddes stock closed with bids of $25.80 to buy 270,074 shares with an offer only 350 units at $28 with very small volumes above. Grace Kennedy traded with a gain of 1 cent, to close at $64.51 with 118,864 shares, Jamaica Broilers 618,120 shares to close at $6.99, JMMB Group traded 104,600 shares at $8.50 at the close with a gain of 44 cents, Kingston Wharves traded at a new high of $9.20 to add $1.55 with 1,850 shares changing hands. National Commercial Bank closed with a gain of 68 cents with 50,000 shares trading to close at $30.79, the shares of 138 Students Living added 25 cents in closing at $4.40 with 210,000 shares,
Pan Jamaican Investments traded 20,500 shares at the end at $63 with a gain of $1.44. Sagicor Group with 368,858 shares closed 1 cents higher at $13.16, Sagicor Real Estate Fund with 46,000 shares closed 50 cents down to $7.50. Scotia Group ended with 119,753 shares trading at $23.85 after gaining 33 cents, Scotia Investments gained $1.50 and ended at $27.50 with 111,000 shares traded, Seprod traded 4,888 shares at $14.95 for 5 cents loss, Supreme Ventures gained 6 cents and ended at $3.71, with 76,000 units. Proven Investments traded 19,000 ordinary shares at 22 US cents after adding a cent and Jamaica Public Service 9.5% preference share traded 4,932 units at $1125 each.
15 up 7 down on Tuesday
At the close of trading on the Jamaica stock exchange, there were 15 stocks rising, 7 declining, with 32 securities totalling 7,269,713 units, valued at $48,282,077 changing hands, in all market segments. 1 junior market stock and 1 main market stock ended at new 52 weeks’ closing highs, 1 stock traded at intraday 52 weeks’ low and one at a 52 weeks’ intraday high.
The JSE Market Index lost 530.18 points to 106,123.07, the JSE All Jamaican Composite index fell 592.50 points to 117,554.80 and the JSE combined index declined 247.57 points to end at 111,432.33.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 18 stocks with bids higher than their last selling prices and 4 with offers that were lower and setting up Wednesday for an interesting day of trading.
In trading, Cable and Wireless closed with a decline of 8 cents, with 2,196,541 shares changing hands to close at 52 cents, but the price traded up to 60 cents during the day. Caribbean Cement shot up to $10 with 35,038 shares changing hands for a 10 cents increase, Carreras traded 54,715 shares at $50.60. Desnoes and Geddes did not trade but the stock closed with several bids at $19.87 to buy 1,823,929 shares with an offer of 59,126 units at $25, then at $28 with very small volumes. Jamaica Broilers closed at $6.92 with 134,660 shares changing ownership, for a loss of 18 cents, Jamaica Producers gained 10 cents in trading 59,820 shares at $18.60, JMMB Group traded 50,000 shares to close at $8.06 with a loss of $1.44, Kingston Wharves traded at a new high of $7.65 to add 65 cents with 1,238 shares changing hands. National Commercial Bank closed with a small gain with 50,000 shares trading to close at $30.11, the shares of 138 Students Living lost 5 cents in closing at $4.15 with 1,200,000 shares, 
the stock traded at an intraday low of $3.90, Pan Jamaican Investments traded 147,199 shares at $61.56 with a gain of 56 cents. Sagicor Group with 586,567 shares closed 14 cents higher at $13.15, Scotia Group ended with 286,773 shares trading at $3.52 after losing 48 cents, Scotia Investments lost 5 cents in ending at $26 while 32,475 shares traded, Seprod traded 19,000 shares at $15 for a gain of $1. Proven Investments traded 143,731 ordinary shares at 21 US cents, Jamaica Money Market Brokers 7.50% preference share traded 105,000 units at $2 and Jamaica Money Market Brokers 8.75% preference share traded 27,000 units at $2.65 for a gain of 8 cents.
Huge jump in Jamaican stocks on Friday
The JSE Combined index jumped 6.80 percent or 7,069.02 points, at the close of trading on the Jamaica Stock Exchange on Friday. The strong move was aided by a $5.07 jump in the price of Desnoes and Geddes shares and gains in National Commercial Bank which ended at $32.99. The market climbed sharply for the third day as advancing stocks outpaced declining ones by a wide margin once more.
The JSE Market Index climbed 6,887.45 points to 106,659.52, the JSE All Jamaican Composite index leapt 7,697.11 points to 118,154.30 and the JSE combined index jumped 7,069.02 to end at 111,085.02 points.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and 4 with offers that were lower. At the close, there were 17 stocks rising, 2 declining, with 26 securities totalling 34,391,788 units, valued at $414,047,404 changing hands, in all market segments, and with 4 junior market and 2 main market stocks ending at new 52 weeks’ closing high, one stock ended at 52 weeks’ low.
In trading, Cable and Wireless added 5 cents, with 845,177 shares changing hands to close at 58 cents, Caribbean Cement shot up to $9 with 281,375 shares changing hands at 50 cents higher, Desnoes and Geddes jumped $5.07 to trade at $13.07 with 29,094,581 shares trading at a new 52 weeks’ high. D&G closed with a bid to buy 5000 units at $15.01, nearly $2 above the last traded price. Grace Kennedy ended with 40,000 shares trading at $64, Jamaica Broilers closed at $6.50 with 119,681 shares changing ownership, Jamaica Producers gained 50 cents in trading 196,137 shares at $18.50, Jamaica Stock Exchange lost 10 cents in closing at $7.20 with 44,620 shares changing hands. JMMB Group traded 64,500 
National Commercial Bank closed at a new 52 weeks’ high of $32.99 with a gain of $2.97 with only 14,003 shares trading as high as $33, for an intraday 52 weeks’ high, Pan Jamaican Investments traded 2,017 shares at $61.99 having gained 74 cents, Radio Jamaica traded 5,394 shares to close at $4.18, for an 18 cents rise, Scotia Group ended with 632,075 shares trading at $25.64 to gain $1.64. Sterling Investments lost 10 cents in ending at $12.90 while 6,000 shares traded at a new 52 weeks low, Proven Investments ended at 21 US cents while trading 51,000 shares to gain 1 US cent and Jamaica Money Market Brokers 7.50% with 590,580 units changing hands closed at $2.
JSE profit surged – 2016 could be big
Jamaica Stock Exchange reported a huge jump in first quarter earnings showing profit of $87 million or 62 cents, up from a loss of $3 in 2014, after tax. Revenues jumped from $82 million to $253 million, on the back of 10 fold increase in cess, due to primarily to the transfer of ownership of the controlling interest in Scotia Group, from the Canadian parent, to one set up to own the Caribbean entities directly.
Total cess income jumped to $161 million compared to only $15 million. Access Financial managing director switched ownership of his shares to a company, resulted in a transaction over the exchange of $1 billion and Pan Jamaican Investments had a $1.3 billion transaction in March. While the latter two unusual transactions would have increased the cess around $12 million, the cess for Scotia Group is estimated by IC Insider at around $120 million, leaving around $40 million as cess from normal ongoing operational activities. Trading values grew by 27 percent in the first quarter, including the two transactions in March. Fee income which rose by 67 percent would have been partially impacted by the big one off transactions, but increased value traded and a slight increase in listing fees would also have helped.
In the second quarter to mid May trading has increased 333 percent to $2.6 billion, the amount is equal to the total value traded for the entire second in 2014. The increased value of trading will lead to increased fees. In the 2014 second quarter, income from cess was only $10 million and fee income $45.5 million. Not only will the cess rake in more funds from the increased volume of trading now on the way but also from an increase in the rate charged for cess over the 2014 level.
While the increased trading activity so far will lead to increased fees for the second quarter, the potential income will be no more than around $100-120 million and will be sufficient to produce a profit for the quarter and help in lifting profit for the full year beyond $1 per share.
Looking forward, with more unit trust schemes being set up there will be more demand for stocks to satisfy the demand of equity funds. The Stock Exchange is poised to take over repo trading and acting as the registrar for them and result in additional fee income is going in the not too distant future, also of great import is that rising stock values increases the base for listing fees to be levied in 2016.
The exchange has cash and investments of $500 million with a working capital ratio of 2:1 and equity of $650 million. The stock remains IC Insider BUY RATED and is now available at $3.50 which it traded at on Friday, but won’t remain that way forever and investors should be buying this one for big long-term gains.
