Two recently promoted Junior Market stocks head the top performing stocks to the end of October on the Jamaica Stock Exchange Main Market with a rise of 75 percent and 40 percent following b full year results for 2023 into 2024.
Lasco Manufacturing, a former Junior Market listed stock and producer of beverages and a range of other household products top the list of top performing Main Market stocks with a large margin following an outstanding run of 75 percent, followed by General Accident up a respectable 40 percent in the ten months period. Lasco traded at a new 52 weeks’ high subsequent to the month end at $9 for a rise of 109 percent, if the price holds at the end of the day. The company should release results in a matter of days and has seen declining offers for sale in recent weeks.
The market ended the year to date with ten stocks gaining 21 percent and over while the Main Market index fell 3.3 percent for the year to date. Overall, 24 stocks gained and 23 declined. As was the case in the Junior Market, the main feature of rising stocks is increased profits of the companies.
First Rock and Wigton Wind Farms tied for the third spot of the best performers with gains of 38 percent with QWI Investments with a gain of 30 percent Transjamaican Highway was sixth with a 28 percent rise.
RJR Group delivered a 35 percent fall to lead the losing stocks, followed by NCB Financial Group, with a fall of 25 percent, Proven Investments declined by 23 percent, Salada Foods, 21 percent and Supreme Ventures down 19 percent.
In the preference segment, Jamaica Public Service 9.5% sank $210 to $2690 after an exchange of 1,133 shares and Sygnus Credit Investments C10.5% increased 40 cents in closing at $105 with investors dealing in 39 stock units.
The market closed with
The All Jamaican Composite Index sank 618.05 points to settle at 357,496.90, the JSE Main Index lost 1,151.31 points to close at 311,890.12 and the JSE Financial Index popped 0.21 points to end at 65.41.
Jamaica Broilers sank $1.63 in closing at $35.50 with traders dealing in 513,394 stocks, JMMB Group slipped 64 cents to $21.66 after 49,090 units passed through the market, Kingston Wharves sank $1.22 to finish at $25.83 with investors dealing in 885 stocks. Massy Holdings advanced $4 and ended at $78 after 318,735 stock units were exchanged, MPC Caribbean Clean Energy dipped $12.99 to end at $75 with investors trading 30 shares, NCB Financial popped 62 cents to close at $53.16 in an exchange of 19,190 stock units. Pan Jamaica rallied $1.96 to $48.96 with 5,471 shares clearing the market, Sagicor Group fell $1.51 in closing at $37.54 as investors exchanged 8,085 stock units, Sagicor Real Estate Fund skidded 41 cents and ended at $7.53 with a transfer of 16,320 stocks. Scotia Group gained $1.20 to finish at $45.20 with investors swapping 313,527 units, Sygnus Real Estate Finance lost 76 cents to close at $10.02 after a transfer of 649 shares and Wisynco Group shed 83 cents to end at $20.61 with 24,471 stocks changing hands.
In the preference segment, Jamaica Public Service 7% climbed $2 to $46 after an exchange of just 4 units and 138 Student Living preference share popped $12.98 to finish at $199.74 with investors trading 20 stock units.