The Jamaica Stock Exchange took another sizable jump to end at a record close on Friday as advancing stocks out-numbered declining stocks in continuation of the market’s record bull run.
At the close trading, the All Jamaican Composite Index rose 305.19 points to 347,001.01, the first time it closed above 347,000 points and the JSE Index climbed 278.07 points to end at a record close of 316,157.10. The market has gained 9.6 percent for the year to date, the shortage of stocks and low interest rates suggest that the gain for the rest of the year should exceed that of the first 7 months.
Trading in the main market ended with 11,481,249 units valued $123,719,859 compared to 7,873,698 units valued at $335,479,879 on Thursday.
Market activities resulted in 26 securities trading including 2 in the US dollar market compared to 28 securities trading on Thursday. At the end of trading, the prices of 13 stocks rose, 8 declined and 5 traded unchanged, including Caribbean Cement trading at an intraday high of $50 and Salada Foods trading at an all-time high of $17 before pulling back at the close, to a 52 weeks’ high of $16.50.
The day’s volume was led by, Mayberry Jamaican Equities with 9,408,575 units 81.95 percent of the main market volume, followed by Scotia Group with juts 351,092 units and Jamaica Stock Exchange with 281,270 units.
Stocks with major price changes| Berger Paints rose $1 and ended at $21, trading 9,539 stock units, Caribbean Cement fell $1.49 to $42.01 exchanging 76,432 shares, Jamaica Broilers traded 46,334 stock units and dropped $3.40 to end at $22.10, Jamaica Stock Exchange rose 49 cents to close at $8, with 281,270 shares changing hands, JMMB Group rose 50 cents and ended at $30, trading 27,350 shares. Mayberry Investments lost 75 cents to end at $8.25 trading just 8,335 shares, Kingston Wharves finished at $52.25, after rising 25 cents with 3,842 stock units, NCB Financial Group lost 80 cents and ended trading at $104, exchanging 27,159 shares, PanJam Investment jumped $1 to $52 trading 87,500 stock units. Salada Foods jumped $1.50 and ended trading at 52 weeks’ closing high of $16.50, with 35,500 stock units, Scotia Group traded 351,092 units and gained 80 cents to end at $52.80 and Sygnus Credit Investments fell 49 cents in trading 12,010 at $12.
Trading in the US dollar market closed with 174,520 units valued at US$31,642 as 
Proven Investments fell 1 cent and closed at 19 US cents trading 3,200 shares and Sygnus Credit Investments fell 0.25 cents in trading 12,010 at 0.0975 US cents. The JSE USD Equities Index rose 3.70 and closed at 154.43
Trading resulted in an average of 478,385 units valued at an average of $5,154,994 for each security traded. In contrast to 302,835 units for an average of $12,903,072 on Thursday. For the month to date an average of 198,469 shares valued at an average of $4,438,731 versus 185,362 shares valued at an average of $5,398,127 on Thursday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 6 closing with lower offers.
New closing high for JSE – Friday
JSE end at a new close – Thursday
The Jamaica Stock Exchange took another sizable jump to end at a record close on Thursday as advancing stocks out-numbered declining stocks in continuation of the market’s record bull run.
At the close trading, the All Jamaican Composite Index jumped 2,217.67 points to 346,695.82 and the JSE Index climbed 2,020.55 points to end at a record close at 315,879.03.
Trading in the main market ended with 7,873,698 units valued at $335,479,879 compared to 3,458,733 units valued at $66,593,492 on Wednesday.
Market activities resulted in 28 securities trading including 2 in the US dollar market compared to 27 securities trading on Wednesday. At the end of trading, the prices of 12 stocks rose, 8 declined and 8 traded unchanged, including Grace Kennedy trading at an intraday high of $58 and Mayberry Investments trading at an all-time high of $9 before pulling back at the close.
The day’s volume was led by, Grace Kennedy with 5,253,678 units accounting for 66.72 percent of the main market volume, 
followed by Carreras with 899,233 units or just 11.42 percent of the day’s volume and JMMB Group 7.50% preference share with 500,000 units and 6.35 percent of the day’s volume.
Major price changes| Grace Kennedy jumped $1.01 to finish at a record high of $58.05, JMMB Group rose 40 cents ended at $29.50, trading 13,087 shares. Mayberry Investments climbed $1.60 to end a record closing high of $9 trading just 1,000 shares, Kingston Wharves finished at $52, after falling 50 cents with 3,842 stock units NCB Financial Group gained 60 cents and ended trading at $104.80, trading 27,159 shares, Sagicor Real Estate Fund rose 50 cents and settled at $14.50 exchanging 3,300 shares, Sterling Investments gained 40 cents to $14.50 after 68,200 shares traded, Scotia Group traded 351,092 units and gained $1.30 to end at $52.80 and Seprod added 99 cents to finish trading at $34, with an exchange of just 750 shares.
Trading in the US dollar market closed with 5,754 units valued at US$5,330 as JMMB Group 6% preference share 
completed trading of 16,500 stock units and rose 1 cent to end at $1.05, Proven Investments fell 1 cent and closed at 19 US cents trading 3,200 shares. The JSE USD Equities Index closed unchanged at 154.43
Trading resulted in an average of 302,835 units valued at an average of $12,903,072 for each security traded. In contrast to 138,349 units for an average of $2,663,740 on Wednesday. For the month to date an average of 185,362 shares valued at an average of $5,398,127 versus 157,082 shares valued at an average of $2,241,849 on Wednesday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 3 closing with lower offers.
Profit jumps 58% at Proven
Investors in shares of PROVEN Investments pushed the price to a year’s low of 12 US cents last month but data now available suggest that they made a big mistake, as the stock now trades back at 20 US cents and profit that suffered from foreign exchange losses in the second half of 2018 fiscal year is now back up.
The investment bank just released first quarter results to June showing profit attributable to shareholders jumping 58.43 percent to US$1.79 million from the US$1.13 million in the same period last year. Annualized return on average equity translate to 8.56 percent and is consistent with Proven target set when they went public. The sharp jump in earnings resulted from net revenue for the quarter rising a 17.4 percent to US$8.5 million compared to US$7.25 million earned in the June 2017 quarter. According to the CEO Christopher Williams, “this was mainly due to a more efficient carry trade strategy and significant improvement in foreign exchange gains.”
Earnings per share for the quarter amounted to 0.29 US cent versus 0.20 US cents in 2017. An interim dividend of 0.25 US cent per share will be paid to shareholders on September 10.
According to the report released with the financials “spread income was the major contributor to revenue during the period, with a 16.97 percent improvement compared with the same period last year as net interest income totalled US$5.28 million. This increase reflects success in the carry trade strategy as the company was able to concurrently increase interest income while reducing interest expense by 18.30 percent.
Net foreign exchange gains totalled US$1.20 million, compared to just US$200,000 in the same period last year. While foreign exchange grew fees and commission income declined from $1.2 million to $894,000 due to change in reporting some fee income with some income now being booked over the period that they cover rather than at the time of billing, the impact for the full year should not reflect a major difference, IC Insider.com was informed.
Proven invests in a number of privately held entities except for Access Finance. The investment strategy seems to be working with most entities delivering increased returns in the quarter.
Christopher Williams, Proven Investments CEO.
According to the release Proven Wealth net income totalled US$0.93 million for the quarter, representing more than a six -times increase compared to the same period last year. The firm continues its strategy to offer investment products to clients in reducing the previous reliance on repurchase agreements. Total Assets of the company as at June 2018 stood at US$120.5 million.
Proven Fund Managers continues to be one of the top players in the Asset and Pension Fund Management and Administration business. Profitability increased by almost 68 percent compared to the same period last year, with net profit of US$220,000 compared to US$130,000 million for 2017.
Access Financial Services appears to be maturing contributing nearly 21 percent increase in net profits attributable to PIL of US$790,000 or 44 percent of the group’s profit for the quarter. But according to Williams, profit at Access is growing around $10 million on a monthly basis and is expected to continue for the rest of the fiscal year barring unforeseen negative development. IC Insider.com gathers that they may be more acquisition in the period ahead for this subsidiary in a new market. Access seems to have absorbed the acquisitions last year that led to a hike in doubtful loan provisioning being above normal in the 2018 fiscal year. The loan portfolio was US$24.4 million up 22 percent over the balance at June 2017.
BOSLIL Bank headquartered in St Lucia is Proven Investments’ most recent acquisition and currently 75 percent owned by the group. BOSLIL contribution to group profits was just below Access at US$610,000 million. Total Assets of the bank stood at US$271 million and seems set to increase as the group has signed an agreement to acquire yet another banking entity that will fall under the arm of Boslil.
PROVEN REIT is involved in residential real estate development with two new developments scheduled to commence construction and are expected to be completed and sold over the next twelve to eighteen months. But the current fiscal year is not likely to benefit from these is they are successfully executed.
Operating expenses increased by 11.5 percent to US$5.6 million compared to US$4.9 million in 2017 but the expenses include US$236,000 in preference dividends that will not repeat as the company retires the preference shares on which dividend was paid while there was just over $400,000 provision made relating to the impact of IFRS 9. Excluding these two items profit for the quarter would have been much greater than reported.
Access Financial contributed much to Proven profit in the quarter.
At the end of June total assets amounted to US$575 million down slightly from US$599 million at June 2017 and liabilities fell from US$509 million in 2017 to US$470 million. Shareholders’ Equity grew to US$82 million from US$71 million as at June 2017 mainly from increased in the share capital following the rights issue last year.
The group has not been able to put the new capital fully to work as they awaited regulatory approval for the plan acquisition of a brokerage company in Cayman Island which has now been granted with the acquisition said by Proven to close at the end of the month. That may not be the only acquisition for Proven this fiscal year as the group seek to grow its overseas business and take advantage of the many investment opportunities management sees within the region.
In going forward, investors need to pay attention to the impact of foreign exchange trading and movement in the rate of exchange and the impact on profits positively or negatively, so the strong gains enjoyed in the quarter may not repeat in the rest of the year. The preference dividend and the provision for IFRS provisioning should not repeat and are likely to reduce cost going forward. Access continues to grow profit on a quarterly basis as the company increase loans granted and securities trading can add or subtract from profits depending how well the investment portfolio is managed.
With the continued focus on acquisition, the future could be brighter for the group, in addition IC Insider.com is forecasting a rise in the PE ratio from an average of 12.5 now to a higher level by year end.
The stock that was in the IC TOP 10 and slipped out this past week traded at 19 US cents on Thursday on the JSE US dollar market and sits just outside the Top list.
AJ Index new record of 345,405 points – Tuesday
The All Jamaican Composite Index of the Jamaica Stock Exchange traded at an intraday record high of 347,551.83 in the morning session but drifted lower to close just above 345,000 points for the second day in a row.
At the close, the All Jamaican Composite Index gained 354.82 points to end at a record close of 345,405.03 and the JSE Index advanced by 323.28 points to end at a record close of 314,702.97.
Trading in the main market ended with 3,687,476 units valued at over $83,983,141 compared to 4,818,830 units valued at $56,754,894, on Friday.
Market activities resulted in 33 securities trading including 3 in the US dollar market compared to 29 securities trading on Friday. At the end of trading, the prices of 11 stocks rose, 12 declined and 10 traded unchanged.
The day’s volume was led by, Scotia Group with 841,089 units for 22.81 percent of the main market volume, followed by Carreras with 764,451 units or 20.73 percent of the day’s volume and Radio Jamaica ended with 547,000 units and accounting for 14.83 percent of the day’s volume.
Major price changes| Berger Paints traded 8,650 shares with a gain of 74 cents to close at $20, Caribbean Cement lost 30 cents and finished at $41.20, with 171,284 shares, Grace Kennedy jumped $1.05 to close at a 52 weeks’ high of $57.05, trading with 122,139 shares, NCB Financial Group climbed $3 ended trading 45,133 shares, at $104, with 1834 Investments lost 15 cents traded at a 52 weeks’ low of 90 cents, with 18,000 shares. Mayberry Investments declined $1.14 to end $7.11 trading 24,638 shares, PanJam Investment concluded trading of 4,384 shares at $51.25, after slipping $1.30, Portland JSX climbed $1 and ended at $9, exchanging 20,000 units, Sagicor Real Estate Fund fell 50 cents to settle at $14.00, with 1,000 shares, Scotia Group traded 841,089 units and fell $1.50 to end at $51.50, Seprod lost 49 cents and finished trading at $32.01, with 2,500 shares. Sterling Investments gained 60 cents and closed at $14.10, with 13,727 shares, Supreme Ventures lost 30 cents and ended at $15.50, with 65,275 shares trading.
Trading in the US dollar market closed with 154,010 units valued at US$128,075 as JMMB Group 6% preference share completed trading of 115,000 stock units and gained 1 cent to end at $1.05, 
Proven Investments added 1 cent and closed at 20 US cents trading 38,800 shares and Sygnus Credit closed 10 US cents in trading 210 shares. The JSE USD Equities Index lost 0.71 points and closed at 154.43
Trading resulted in an average of 122,916 units valued at an average of $2,799,438 for each security traded. In contrast to 185,340 units for an average of $2,182,881 on Friday. For the month to date an average of 162,724 shares valued at an average of $2,114,773 versus 185,258 units traded for an average of $1,727,278 on Friday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.
Grace set to make big price leap
Grace Kennedy traded at a 52 weeks’ high on JSE on Friday..
The Jamaica stock market is at an interesting stage, with supply of many stocks offered for sale, getting more scarce by the day, while interest rates are at their lowest levels in Jamaica’s history but are most are valued at levels when interest rates were in the teens.
The main market has gained 8,387.30 points in July, and is now a record high as of Friday with gains of 9,486.57 since the start of July, thus mirroring the start of the usual summer rally on the Jamaica Stock Exchange, while the Junior Market continues to bounce and is now at a 9 months’ high.
Liquidity is very high and forcing interest rates lower as investors try to place funds on hands. As liquidity rise in the market supply of stocks is on the decline. Some of stock with scarce supplies include Grace Kennedy that has just one offer priced at $80 when the market closed on Friday, NCB Financial that is now trading over $100 is not far behind with limited offers. It has been years that the supply of Grace stock has been this low and suggest a big upward price move.
The All Jamaica Composite index now braking out of a narrow upward sloping channel going back to November 2017.
Berger Paints, Caribbean Cement, JMMB Group, Kingston Wharves, PanJam Investment, Sagicor Group, Seprod and Scotia Group with only 362,000 units on offer are amongst some that have very limited supplies being offered for sale on the market. But the main market is not the only segment with limited supplies.Over in the Junior market where demand is not as great as in 2017, supplies are limited for many of the listings. The list includes, Blue Power, Caribbean Flavours, Cargo Handlers, Derrimon Trading, Express Catering, Caribbean Cream, Medical Disposables and Stationery and Office Supplies. Caribbean Producers closed trading at $5.80 at the end of the previous week and ended this past week at $6.22 and may well go higher this coming week as it closed with a bid at $6.20. A number of these stocks could lead the break out of the markets in a big way when investors on a whole come to the realization that with interest rates now below 2 percent,
Medical Disposables profit jumps 49 percent before foreign exchange loss in Q1.
that the old accepted PE ratio of 10 being reasonable to value stocks, is no longer accepted and that ratios of 20 to 30 will become the norm going forward. Investors only need to look at stocks in in Trinidad and Tobago where PEs have been in the 20 level for years to understand where we will be heading in the not too distant future.
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 index and the Junior Market that is at a 9 month high, is being steered by an upward rising long term support line and the start of a golden cross.
Medical Disposables back in IC TOP 10
Medical Disposables back in IC TOP 10
The main market of Jamaica Stock Exchange ended at a record close on Friday and the Junior Market closed at a 9 months’ high as the markets keep moving higher resulting changes to the IC TOP 10.
At the close on Friday, Proven Investments ended at 19 US cents and fell out of the top list and is replaced by Victoria Mutual Investments. Jetcon Corporation and Paramount Trading dropped out of the top flight, to be replaced by Fosrich Group and Medical Disposables. IC insider.com lowered profit forecast for Paramount with the company showing only a small profit of less than a million
dollars in the fourth quarter compared to nearly $11 million in 2017 after gross profit rose 29 percent or $28 million. Jetcon squeezed out by price changes, elsewhere Medical Disposables rose to $5.80 but made it back in the list with strong profit out turn for the first quarter to June and an upgrade of earnings for the full year, of 65 cents per share from 60 cents.
The PE ratio for Junior Market Top stocks averages 7.4 compared to an average PE for the overall market of 12, based on 2018 estimated earnings and the main market PE stands at 8 for the top 
stocks, compared to a market average of 13, a good indicator of the level of undervaluation of these stocks.
The TOP 10 stocks now trade at an average discount of 38 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 40 percent to the market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. 
Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.
Record 345,208 points close for AJI – Friday
Chart showing the All Jamaica Composite Index in upward move from December 2017 and now at the highest closing level ever.
The All Jamaican Composite Index of the Jamaica Stock Exchange closed above 345,000 points for the first time ever but fell short of the record high of 345,208.15 reached in the early morning session on Thursday.
At the close, the All Jamaican Composite Index gained 980.10 points to end at a record close of 345,050.21 and the JSE Index advanced by 892.98 points to a record close at 314,379.69. The move on Friday is the fifth straight record close for the market since the previous week Friday.
Trading in the main market ended with 4,818,830 units valued at $56,754,894, compared to 4,999,824 units valued at $34,788,166 on Thursday.
Market activities resulted in 29 securities trading including 3 in the US dollar market compared to 31 securities trading on Thursday. At the end of trading, the prices of 9 stocks rose, 9 declined and 11 traded unchanged.
The day’s volume was led by, Jamaica Stock Exchange trading 1,993,806 shares for 41.38 percent of the day’s traded volume Mayberry Equities closed trading with 469,705 units or 9.75 percent of shares trading and Radio Jamaica ended trading with 389,089 units and accounting for 8.07 percent of the day’s volume.
Major price changes| Carreras traded 333,862 shares but lost 30 cents to close at $9, Caribbean Cement rose 49 cents and finished at $41.50, with 119,028 shares, Kingston Wharves concluded trading at $52.50, with 8,815 shares after gaining 40 cents. Mayberry Investments jumped $1.25 to a 52 weeks’ high of $8.25 trading 118,800 shares and after pulling back from $8.40 earlier in the day, PanJam Investment concluded trading of 7,340 shares at $52.55, after rising $1.55 and Scotia Group traded 349,178 units and rose 8 0 cents to end at $53.
Trading in the US dollar market closed with 40,481 units valued at US$10,641 as JMMB Group 6 percent preference share completed trading of 3,000 stock units and fell 1 cents to end at $1.04, Productive Business Solution ended trading 1,000 shares to close at 59 US cents and Proven Investments closed at 19 US cents trading 36,481 shares. The JSE USD Equities Index close unchanged at 155.14.
Trading resulted in an average of 185,340 units valued at an average of $2,182,8811 for each security traded, in contrast to 185,179 units valued at an average of $1,288,451 on Thursday. For the month to date an average of 185,258 units traded for an average of $1,727,278. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.
Record close for JSE – Thursday
The All Jamaican Composite Index of the Jamaica Stock Exchange surged to more than 345,000 points in the early morning session on Thursday but failed to hold on at that level but still managed to end at a new record close.
At the close, the All Jamaican Composite Index held on to just 119.17 points of the early gains to end at a record closing high of 344,070.11 and the JSE Index clung to 108.58 points to end at record closing high of 313,486.71.
Trading in the main market ended with 4,999,824 units valued at over $34,788,166 compared to 34,917,482 units valued at $108,176,982 on Tuesday.
Market activities resulted in 31 securities trading including 4 in the US dollar market compared to 29 securities trading on Tuesday. At the end of trading, the prices of 14 stocks rose, 8 declined and 9 traded unchanged.
The day’s volume was led by, Mayberry Investments trading 1,003,340 shares to close at $7, after it traded at an intraday 52 weeks’ high of $7.60 JMMB Group 7.5% preference share closing at $1, in trading 952,000 shares and Mayberry Equities closed trading at $8.50 with 522,731 shares trading.
Major price changes| Grace Kennedy traded at an intraday 52 weeks’ high of $56.70 but ended trading at a 52 weeks’ closing high of $56.01. Jamaica Producers rose 30 cents to $17, trading 5,988 stock units, Mayberry Equities lost 55 cents trading 522,731 shares to end at $8.60, PanJam Investment concluded trading 51,973 shares at $51, after falling $1.54, Sagicor Group shed 40 cents and settled at $38.10, with 21,574 shares trading, Scotia Group traded 13,284 units and rose $1.10 to end at $52.20 and Sterling jumped $1.50 and finished trading at $13.50, with 2,952 shares changing hands.
Trading in the US dollar market closed with 98,429 units valued at US$87,029 as JMMB Group 6 percent preference share completed trading 80,000 stock units at $1.05, Margaritaville ended trading 10,524 shares to close at 16.9 US cents and Proven Investments rose 1 cent to 19 US cents trading 5,105 shares. The JSE USD Equities Index rose 1.62 points to 155.14.
Trading resulted in an average of 185,179 units valued at an average of $1,288,451 for each security traded. In contrast to 1,342,980 units for an average of $4,160,653 on Tuesday. July closed with an average of 169,022 units valued at $3,514,756, for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.
JSE jumps 3000 points to record close – Tuesday
The main market of the Jamaica Stock Exchange hit several new record highs throughout the trading session on Tuesday and ended with strong gain to close just below the 344,000 points level.
At the close, the All Jamaican Composite Index jumped 3,071.05 points at 343,950.94 and the JSE Index climbed 2,798.07 points to close at 313,378.13. Earlier in trading session, the All Jamaica hit a new intraday high of 341,987.04 points and the JSE Index 311,588.81.
Trading in the main market ended with 34.917.482 units valued at $108,176,982 versus 2,332,453 units valued at $28,665,085 on Monday.
Market activities resulted in 29 securities trading including 3 in the US dollar market compared to 31 securities trading on Friday. At the end of trading, the prices of 15 stocks rose, 8 declined and 6 traded unchanged.
The day’s volume was led by, JMMB Group 7.5% preference trading 27,800,000 shares at 99 cents, Jamaica Stock Exchange closing at $7.30, with 2,972,200 shares, and Carreras concluding trading at $9.47 with 1,071,337 units.
Major price changes| Carreras concluded trading at $9.47, after rising 47 cents with 1,071,337 units, Grace Kennedy jumped $3 to $56 in trading 161,314 shares, Jamaica Broilers rose 40 cents to $25.90, trading 9,471 stock units. JMMB Group climbed $1.90 and ended at $29.90, exchanging 1,700 shares, Mayberry Equities traded with a gain of $1.59 to end the day at $9.15 with 963,295 units trading, Sagicor Group gained 50 cents and settled at $38.50, with 14,775 shares, Scotia Group traded 57,671 units but fell $1 to end at $51.10 and Seprod shed $1.50 and finished trading at $32.50, with 2,529 shares changing hands.
Trading in the US dollar market closed with 7,827 units valued at US$6,500 as JMMB Group completed trading at $1.05 with 5,586 stock units and Productivity Business ended trading with a gin 
of 9 cents at 59 US cents with 541 shares changing hands and Proven Investments lost 1 cent to 18 US cents with 1,700 shares trading The JSE USD Equities Index rose 5.76 points to 153.52.
Trading resulted in an average of 1,342,980 units valued at over $4,160,653, in contrast to 80,429 shares valued at $988,451 on Monday. The average volume and value for the month to date amounts 169,022 units valued at $3,514,756 compared to 173,907 units valued at $3,499,633 on Friday. June closed with an average of 250,168 shares with a value of $5,895,281, for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 12 stocks ended with bids higher than their last selling prices and 3 closing with lower offers.
Another record close for JSE stocks – Monday
The main market of the Jamaica Stock Exchange closed at a new record high on Monday at the end of a moderate trading session, following Friday’s record closing high, as technical indicators points to the market hitting over 380,000 points before hitting major resistance.
At the close, the All Jamaican Composite Index advanced by 444.90 points at 340,879.89 and the JSE Index gained 405.35 points to close at 310,580.06. Earlier in trading session, the All Jamaica hit a new intraday high of 341,987.04 points and the JSE Index 311,588.81.
Trading in the main market ended with 2,332,453 units valued at $28,665,085 compared to 5,657,684 units valued at $158,095,077 on Friday.
Market activities resulted in 31 securities trading including 2 in the US dollar market compared to 25 securities trading on Friday. At the end of trading, the prices of 13 stocks advanced, 11 declined and 7 traded unchanged.
The day’s volume was led by, Radio Jamaica with 649,627 shares, Carreras with 596,249 units and 1834 Investments Limited with 250,000 units.
Major price changes| Barita Investments gained 51 cents to end at $9.51 trading 938 shares, Berger Paints traded just 200 shares changing hands, with the price falling 50 cents to $19, Grace Kennedy added 40 cents to $53, with 18,100 stock units trading, Jamaica Broilers lost 50 cents and closed trading at $7.50 trading 6,857 shares. JMMB Group traded 173,185 shares but fell 50 cents to $28, Kingston Wharves jumped $1.95 to $52.05 in trading 5,534 units, NCB Financial Group rose 51 cents in trading 90,387 shares at $100.52, Proven Investments fell 50 cents trading 12,235 shares at $26, Sagicor Real Estate Fund settled at $14.50, after slipping 45 cents in trading 35,365 shares, Salada Foods jumped $3.39 to end at $15.89, exchanging just 370 units, Scotia Group gained 60 cents in trading 10,980 units at $52.10 and Seprod finished trading at $34.00, after jumping $1.99 with 11,556 shares changing hands.
Trading in the US dollar market closed with 170,635 units valued at US$27,064 as Proven Investments rose 1 cent to 19 US cents with 112,235 shares trading and Sygnus Credit Investments closed with 58,400 units trading at 10 US cents. The JSE USD Equities Index rose 3.05 points to 147.76.
Trading resulted in an average of 80,429 units valued at an average of $988,451 for each security traded. In contrast to 245,986 units for an average of $6,873,699 on Friday. The average volume and value for the month to date amounts 169,022 units valued at $3,514,756 compared to 173,907 units valued at $3,499,633 on Friday. June closed with an average of 250,168 shares with a value of $5,895,281, for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 5 closing with lower offers.