The Junior Market of the Jamaica Stock Exchange closed Wednesday with a big surge in trading volume of 26,534,388 units, valued at $115,148,200 compared to 2,495,496 units valued at $13,050,346 on Tuesday. Three Lasco companies accounted for 24 million of the shares trading in the market.
The Junior Market index dipped 13.70 points to end at 3,114.07 as 20 securities changed hands of which 7 advanced, 10 declined and none trading firm.
The Junior Trading ended with an average of 1,841,847 units for an average of $5,757,410 in contrast to 124,775 units for an average of $652, 517 on Tuesday. The average volume and value for the month to date amounts to 404,342 units valued at $1,833,412 compared to 301,663 units valued at $1,553,127 previously. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
Trading ended with the market sentiments looking mixed for Thursday’s activity, as 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, the last traded prices of securities and the volume traded and are: AMG Packaging settling with a loss of 50 cents at $3.50 with 84,705 shares, CAC 2000 ended 10 cents higher at $7.95 with 1,600 shares, Cargo Handlers fell 50 cents and concluded trading at $10 with 1,938 shares, Caribbean Cream ending with a loss of 11 cents, at $6.59 with 120,416 units, Consolidated Bakeries with a loss of 30 cents to $1.85 with 41,650 shares, Dolphin Cove with a loss of 10 cents, to close at $17.40 with 3,387 shares. Express Catering lost 10 cents to end at $5 with 89,449 shares, ISP Finance finished $1.24 higher at $18.50 with 1,440 shares, Jamaican Teas added 3 cents higher to $5.18 with 869,166 shares, Corporation concluded trading 4 cents higher t0 $5.45 with 62,479 shares, KLE Group ending with a loss of 24 cents to $2.26 with 535,402 shares, Knutsford Express with a loss of 49 cents, finished at $14.50 with 16,444 shares, Lasco Distributors fell 5 cents and finished at $6.75 with 4,559,191 shares, Lasco Financial traded 12,091,213 shares with a loss of 50 cents to end at $3.50, Lasco Manufacturing ending trading 2 cents higher to $4.52 with 7,446,903 shares. Main Event inched 9 cents higher and finished at $5 with 102,913 shares, Medical Disposables climbed 10 cents to $5.30 with 335 stock units, Paramount Trading ended with a loss of 4 cents, to $2.90 with 70,970 shares, Stationery and Office lost 20 cents, to end trading at $3.80 with 429,587 shares and tTech closed with a loss of 94 cents, to $6.50 with 5,200 shares.
JMMB could continue higher
Based on the trading activity for the past few days there seems to be increased interest in JMMB Group shares with a sharply declining supply being offered after the company released its first quarter results and announced that they have commenced commercial banking operations in Jamaica.
On Friday the price closed at $21.50 with 782,460 shares traded, after it traded at $23 in the morning session as supply totally dried up at one stage when only a small volume was on offer at $29, the first this has happened in a long time. At the close less than 240,000 units were offered for sales, with most quoted at $22.50. The group reported pretax profit rising to $995 million from $857 million in 2016 but profit after tax just inched up to $613 million from $590 in 2016.
Cable and Wireless came in for buying but sellers were just as interest in selling, in the end supply on the market has been shrinking. The stock could well see side-ways movement during the week, don’t be surprised if the price moves up as supplies around last week’s closing price recedes. NCB Financial Group has seen the price in Trinidad coming close to the Jamaican price on Friday, with demand still strong in that market and no stock on offer. The closing bid in TTSE suggests upward price movement can be expected. Supply in Jamaica is not great, it’s just that buyers are taking their time to acquire and could well be trying to hold out until close to the release of the full year’s results in early November. There was spirited buying of Barita Investments on Thursday gone, with 163,100 units being snapped up aggressively. There was no follow through of such aggression on Friday. It is anyone’s guess where this one will go, in the days ahead, but it is worth watching. Berger Paints pulled back to $14 during the week, with no announcement from its new parent company about the minority holdings. Ansa McAl announced that they would be making a submission about the 20 percent minority holdings in the Trinidad sister company, with no comments about the operations in Jamaica.
There is a fair bit of swing in the price of Stationery and Office Supplies with selling coming in during the week, but with buying more subdued than before. Investors can probably expect the price to swing between $4 and $5 for a while. The price could even falling into the $3 to $4 range depending on how fast sellers want to exit. At least that is what the bids and offers suggest, unless there are some increased buying in the week ahead.
Jamaican Teas after reporting nine months results with increased earnings per share over 2016, traded as high as $5.30 during the day but closed at $5 as increased interest was visible for the stock, suggesting that the price could rise further. Jetcon Corporation continues to attract buying interest after posting doubling of profits for the first six months of 2017 and traded as high as $5.70 before pulling back to $5.50 at the close on Friday, with bids to buy in line with the closing price. Paramount Trading came in for some buying with the price recovering from its fall to $2.50 recently after the company stated that they were I the process of constructing the Lubricant plant with operations to commence later this year. Currently supply below $4 is scanty.
Consolidated Bakeries reported a loss in its June quarter leading to a fall in the stock price. Selling continues with more than 660,000 units on offer at $2.15 and weak bids. Further decline is to be expected.
Securities trading jump on Tuesday
Trading in the Junior Market of the Jamaica Stock Exchange closed on Tuesday with a number of stocks declining out pacing those rising. The volume and value of stocks traded declined compared to that on Monday while the market index closed lower by 38.26 points to 3,157.46.
The Market closed with 2,187,410 shares valued at $12,791,307 trading compared with 5,636,428 valued at $31,083,116 on the previous day. A total of 28 securities traded compared 22 on Monday as 17 stocks declined, 2 advanced and 9 traded firm.
At the close of the market, stocks trading and their last traded price are: Access Financial with 35,383 shares trading, closed with a loss of 30 cents to end at $46.20, AMG Packaging closed with 25,000 shares at $3.50, Blue Power had 5,450 units changing hands with fall of 50 cents to $41.50, Cargo Handlers with a loss of 30 cents, closed at $10.70 with 18,817 shares, Caribbean Cream closed with a loss of 84 cents, at $5.90 with 24,346 shares, Caribbean Producers ended 11 lower to $3.39 with 13,000 shares, Consolidated Bakeries lost 12 cents and closed at $2.50 with 1,627 shares, C2W Music closed at 38 cents with 18,237 shares, Derrimon Trading with a loss of 10 cents, closed at $7.90 with 12,065 shares, Dolphin Cove closed at $17.50 with 2,185 shares, Express Catering ended 20 cents higher at $5.30 with 319,964 shares, General Accident closed at $3.30 with 46,866 shares, Honey Bun closed 20 cents higher at $5 with 4,066 shares, Iron Rock closed at $3 with 38,000 shares, Jamaican Teas closed at $4.70 with 7,346 shares, Jetcon Corporation with a loss of 1 cent, closed at $5.30 with 176,320 shares, KLE Group closed at $2 with 23,000 shares, Key Insurance with a loss of 5 cents, closed at $3 with 5,000 shares, Knutsford Express closed at $15 with 9,850 shares, Lasco Distributors with a loss of 15 cents, closed at $6.55 with 149,100 shares, Lasco Financial traded at $4 with 54,927 shares, Lasco Manufacturing with a loss of 37 cents, closed at $4.33 with 41,292 shares, Main Event fell 5 cents, and closed at $4.95 with 117,083 shares, with a loss of 5 cents, Medical Disposables closed at $5 with 200,000 shares, after falling 50 cents, Paramount Trading eased 5 cents closed at 5 cents with 47,256 shares, Stationery and Office Supplies traded 725,061 units with the price falling 41 cents to $4.99, Sweet River dipped 3 cents, to $3.52 with 60,169 shares and tTech dropped $1 and closed at $6.80 with 6,000 shares.
Junior market closed higher – Monday
Trading in the Junior Market of the Jamaica Stock Exchange closed on Monday with a number of stocks rising out pacing those declining 2 to 1. The volume and value of stocks traded declined sharply compared to that on Friday and the market index closed higher.
The Market index surged 45.93 points to close at 3,195.72 as 5,636,428 shares valued at $31,083,116 traded compared with 15,739,900 units valued at $100,160,789 on Friday.
Overall Market activity resulted from trading in 22 stocks, down from 25 on Friday as the market closed with 10 advancing, with Stationery and Office Supplies closing at a new high of $5.40, as the prices of 4 declined and 10 remaining unchanged.
Trading in the Junior Market of the Jamaica Stock Exchange closed on Monday with a number of stocks advancing out pacing those declining. The volume and value of stocks traded advanced compared to that on Friday and the market index closed higher.
At the close of the market, stocks trading and their last traded price are: Blue Power traded 623 shares and rose 50 cents to end at $42, CAC 2000 fell 45 cents to $7.05 with 5,000 shares, Cargo Handlers closed at $11 with 3,410 shares, Caribbean Cream lost 6 cents and closed at $6.74 with 35,028 shares, Caribbean Flavours climbed 5 cents and ended at $13 with 1,561 shares, Caribbean Producers closed at $3.50 with 18,367 shares, Consolidated Bakeries closed at $2.62 with 70,000 shares, Express Catering closed at $5.10 with 3,590,526 shares after falling 40 cents, General Accident climbed 30 cents to $3.30 with 8,000 shares, Honey Bun rose 30 cents to closed at $4.80 with 13,899 shares, Jamaican Teas closed at $4.70 having gained 10 cents with 40,871 shares, Jetcon Corporation closed 11 cents higher at $5.31 with 31,932 shares, KLE Group closed at $2 with 130,557 shares, Knutsford Express closed at $15 with 30,955 shares, Lasco Distributors traded 225,541 shares at $6.70, Lasco Financial closed at $4 with 25,254 shares, Lasco Manufacturing closed 20 cents higher at $4.70 with 2,715 shares, Main Event closed at $5 with 1,670 shares, Medical Disposables gained 25 cents and closed at $5.50 with 35,000 shares, Paramount Trading added 25 cents to close at $2.90 with 35,000 shares Stationery and Office Supplies traded 1,290,789 units as the price climbed to a new closing high of $5.40 after rising 32 cents, earlier in trading the stock went as high as $6 before pulling back ahead of the close and tTech fell 25 cents to $7.80 with 39,730 shares.