Trading in the main market of the Jamaica Stock Exchange closed on Wednesday with sharp fall in the indices as prices continue to swing in either direction. At the close 27 securities changed hands including 1 trading in the US dollar market. At the close of trading, 10 stocks advanced and 12 declined in the main market.
Trading levels in main market ended at 2,784,846 units valued at $79,404,060 compared to 2,777,139 units valued at $49,314,132 at the close on Tuesday. Trading in the US dollar market accounted for 58,000 units valued at US$17,945.
The All Jamaica Composite Index dropped 1,831.35 points to close at 248,105.96 the JSE Market Index fell sharply by 1,668.57 points to finish at 226,052.64 but the JSE US dollar market index gained 6 points to close at 222.59.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 13 stocks with bids higher than their last selling prices and 3 with lower offers.
The main market ended trading with an average of 107,109 units valued at 3,054,002 compared to an average of 106,813 units carrying an average value of $1,896,697 on Tuesday. The average volume for the month to date ended at 92,865 units with an average value of $2,358,559 versus 85,743 units with an average value of $2,010,837 on the prior trading day. The average volume and value for March ended at 549,909 units and $8,925,067.
In market activity, Barita Investments gained 1 cent to close at $6.86 with trades of 108,947 shares, Berger Paints closed at $12.05, losing 10 cents with an exchange of 21,661 shares, Cable and Wireless closed 7 cents lower at $1.28 with 92,912 shares changing hands, Caribbean Cement closed at $31.80, with gains of 80 cents trading 12,184 units. Carreras closed at $72 with 10,962 shares being exchanged, Grace Kennedy tumbled $1.75 to $41.50, with 30,568 units traded, Jamaica Broilers gained 49 cents to close at $16.50 exchanging 82,604 shares, Jamaica Producers closed $1 lower to $15, with trades of 122,336 shares, Jamaica Stock Exchange closed at $7, losing 95 cents with an exchange of 384,712 units. JMMB Group added 24 cents to close at $18.50, with 8,392 units changing hands, Kingston Properties closed at $16 trading 1,035 shares, Kingston Wharves closed at $33.49, with gains of $2.49 and an exchange of 21,155 units, Mayberry Investments lost 5 cents to close at $4.60 with trades of 12,244 shares, NCB Financial Group added $1, closing at $62 after exchanging 318,152 shares, 1834 Investments lost 3 cents to close at $1.45 trading 15,888 units, 138 Student Living lost 1 cent to close at $4.49, with an exchange of 1,246 units, Pan Jamaican closed 85 cents lower to $34.15 with 91,726 shares traded. Pulse Investments traded 10,105 shares at $8, Radio Jamaica gained 4 cents to close at $1.89 while trading 73,739 units, Sagicor Group closed at $34, with a loss of 52 cents trading 1,043,448 shares, Sagicor Real Estate Fund added 30 cents, closing at $10.30 with 5,044 shares changing hands, Scotia Group advanced $1.29 cents to $40 trading 196,692 units, Seprod lost 50 cents to close at $40, with 44,200 shares changing hands, Supreme Ventures closed at $6.01, with a loss of 34 cents while swapping 68,195 shares. Proven traded 58,500 ordinary shares at 30.95 US cents, for a gain of almost 1 cent, JMMB 7.5% preference share closed at $2 with trades of 204 units and JMMB Group 7.5% preference share closed at $1.05, with an exchange of 6,495 units.
Sagicor caught in JSE ownership restriction
The article sets a 10 percent limitation for ownership by any one shareholder. The restriction is meant to prevent anyone shareholder from dominating management of the company. The prospectus when the company sold ordinary shares to the public in June 2103 stated: Ordinary Shares – Special Provisions to Prevent Unacceptable Control Situations. Article 48 of the Articles of Incorporation of the Company contains provisions that are designed to prevent any Shareholder (including a Member Dealer) from holding Shares above the “Prescribed Percentage”, being over 10 percent of the issued share capital of the Company. If the voting power of any person (either alone or together with others) is more than the Prescribed Percentage, the Articles deem that an unacceptable control situation exists. In those circumstances, the same Article also deems that any Shares above the Prescribed Percentage are default shares that no longer carry rights to vote at general meetings of the Company. The Company has a power to give notice to the holder to dispose of any default shares, failing which the Company may dispose of them.
On March 3, a total of 35.3 million units of Jamaica Stock Exchange shares were trading through the market.
Sharp price moves push stocks down – Tuesday
Trading levels in main market ended at 5,715,510 units valued at $62,017,146 compared to 2,602,058 units valued at $19,772,383 at the close on Monday. Trading in the US dollar market accounted for 375,830 units valued at US$112,160.
The All Jamaica Composite Index declined 652.58 points to close at 244,600.84 the JSE Market Index fell 594.58 points to finish at 222,859.09 and the JSE US dollar market index gained 5.36 points to close at 215.57.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 9 stocks with bids higher than their last selling prices and 5 with lower offers.
The main market ended trading with an average of 122,740 units, compared to an average of 53,047 units on Monday. The average volume for the month to date ended at 136,817 units versus 150,894 units on the prior trading day. The average volume and value for February ended at 223,938 units and $1,379,459.
In market activity, Berger Paints slid $1.95 to $11.05, with 92,502 shares changing hands, Cable and Wireless lost 1 cent to close at $1.29 with trades of 255,042 shares, Caribbean Cement closed $1.20 lower to $31 with an exchange of 38,790 units. Carreras traded at $72, gaining $3 with 25,245 shares exchanged, Grace Kennedy advanced 90 cents to $43.90 with 170,701 units changing owners, Jamaica Broilers traded 124,547 shares at $15.99, for a loss of 1 cent, Jamaica Producers closed at $16 with 143,221 shares exchanged, Jamaica Stock Exchange closed 53 cents lower at $7, with trades of 861,904 units. JMMB Group closed at $16.81, losing 19 cents with 62,377 units traded, Kingston Properties closed at $16.35 trading 2,250 shares, Kingston Wharves lost 25 cents to close at $31.50, with 133,133 units changing hands, Mayberry Investments closed 10 cents lower at $4.60 with an exchange of 63,659 shares, NCB Financial Group gained 40 cents to close at $61.90, after exchanging 39,418 shares, 1834 Investments closed at $1.50, losing 10 cents trading 24,112 units, Palace traded 900 units at $200, Pan Jamaican closed at $35, with a loss of 1 cent trading 59,159 shares. Pulse Investments closed at $8.40, losing 5 cents with an exchange of 2,654 units, Radio Jamaica gained 30 cents to close at $1.90 exchanging 30,300 shares, Sagicor Group closed at $33.50 trading 151,851 shares, Sagicor Real Estate fund lost 6 cents to close at $10.50 with 184,285 shares traded, Scotia Group was down 99 cents, to close at $38.01, with 513,417 units exchanged, Scotia Investments traded $1.95 higher to $40 with a mere 1,000 units changing hands, Supreme Ventures advanced 35 cents to $6.35 trading 4,710 shares. Proven closed at 30 US cents, gaining 1 cent with an exchange of 375,830 ordinary shares and JMMB Group 7.5% preference share lost 1 cent to close at $1.08 with trades of 2,730,333 units.
JSE climbs on Monday
The Jamaica Stock Exchange corrected Friday’s error in the movement of the market indices to reflect the correct changes based on the close on Thursday and Friday.
The error in the market indices showed the sharp difference reported for the rise in the indices on Friday. The report shows the indices above the closing levels on Thursday but the official market report shows that main market and composite indices fell by more than 1,200 points and the junior market rising only 7.21 points when the closing index on Thursday and Friday show a rise of 29.39 points.
The market closed on Monday with 25 securities changing hands with 2 trading in the US dollar market. In the main market, 9 stocks advanced and 10 declined.
Trading levels in main market ended at 2,602,058 units valued at $79,186,131 compared to 7,683,386 units valued at $59,552,400 at the close on Friday. Trading in the US dollar market accounted for 3,316 units valued at US$962.
The All Jamaica Composite Index advanced 828.57 points to close at 245,253.44 the JSE Market Index gained 754.92 points to finish at 223,453.67 and the JSE US dollar market index remained at 210.21.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 282,723 units on Friday, compared to an average of 184,556 units on the previous trading day. The average volume for the month to date, ended at 248,740 units versus 214,756 units on the prior trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.
In market activity, Berger Paints closed at $13, losing $2 with 3,799 shares changing hands, Cable and Wireless lost 4 cents to close at $1.30 with trades of 645,652 shares, and Caribbean Cement closed 20 cents higher to $32.20 with an exchange of 19,345 units. Carreras traded at $69, for a loss of 50 cents with 6,800 shares exchanged, Grace Kennedy closed 50 cents higher to $43 with 6,757 units changing owners, Jamaica Broilers traded 61,027 shares at $16, Jamaica Producers gained 50 cents to close at $16 with 5,209 shares exchanged, and Jamaica Stock Exchange closed 23 cents higher to $7.53 with trades of 23,712 units. JMMB Group lost 50 cents, closing at $17 with 23,836 units traded, Kingston Properties closed at $16.35 trading 200 shares, Kingston Wharves gained 55 cents to close at $31.75, with 6,034 units changing hands, Mayberry Investments closed 60 cents lower to $4.70 with an exchange of 124,821 shares, NCB Financial Group lost 49 cents to close at $61.50, after exchanging 11,943 shares, 138 Student Living closed at $4.50 with 13,015 units exchanged, Pan Jamaican closed at $35.01, with gains of 76 cents trading 145,770 shares. Pulse Investments was down 5 cents, closing at $8.45 with an exchange of 1,809 units, Sagicor Group closed at $33.50 trading 86,987 shares, Sagicor Real Estate fund added 1 cent to close at $10.56 with 39,600 shares traded, Salada closed at $9, losing 24 cents exchanging 320 shares, Scotia Group added 65 cents to close at $39, with 1,960 units exchanged, Scotia Investments traded $2.05 higher to close at $38.05 with 105,759 units changing hands, Seprod closed at $38, for a loss of 55 cents with trades of 600 shares, and Supreme Ventures closed at $6, losing 29 cents trading 3,175 shares. Proven closed at 29 US cents with an exchange of 3,316 ordinary shares, JMMB 7.5% preference share traded 497,190 units at $2 and JMMB Group 7.5% preference share closed 1 cent lower to $1.09 with trades of 766,738 units.
JSE climbs again on Friday
The Jamaica Stock Exchange continues to have challenges with their new trading system that was implemented in February. Making matters worse is that personnel at the exchange have refused to vet reports they put out in the public’s domain.
The end result is that indices changes are sometimes wrong or can’t be relied and some stocks are left off the trading reports.
The market closed on Friday with 24 securities changing hands with 2 trading in the US dollar market. In the main market, 12 stocks advanced and 8 declined.
The All Jamaica Composite Index advanced 911.85 points to close at 244,424.85 the JSE Market Index gained 830.80 points to finish at 222,698.74 and the JSE US dollar market index lost 7.95 points to 210.21.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 282,723 units on Friday, compared to an average of 184,556 units on the previous trading day. The average volume for the month to date, ended at 248,740 units versus 214,756 units on the prior trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.
In market activity, Barita Investments traded 28,170 shares at $6.90, Berger Paints advanced $2 to close at $15, trading 25,128 shares, Cable and Wireless closed at $1.34, adding 4 cents with trades of 1,975,825 shares, Caribbean Cement closed 20 cents higher to $32 with an exchange of 14,902 units. Carreras traded at $69.50 with 7,400 shares changing hands, Grace Kennedy closed $1.40 higher to $42.50 with trades of 4,978 units, Jamaica Broilers exchanged 538,378 shares at $16, Jamaica Producers traded 50 cents lower to $15.50 with 12,638 shares changing owners, Jamaica Stock Exchange closed at $7.30, for a loss of 66 cents with an exchange of 3,058,750 units. JMMB Group slid 48 cents, closing at $17.50 with trades of 532,746 units, Kingston Properties closed at $16.35, rising 15 cents in trading 20,976 shares, Kingston Wharves gained 20 cents to close at $31.20, with 6,693 units changing owners, Mayberry Investments added 10 cents, closing at $5.30 with an exchange of 5,000 shares, NCB Financial Group closed with gains of 99 cents to $61.99, after exchanging 31,659 shares, 138 student Living closed 10 cents lower to $4.50, with 199,483 units being exchanged, Pan Jamaican rose 19 cents higher to $34.25, trading 192,491 shares. Sagicor Group closed at $33.50 trading 60,520 shares, Sagicor Real Estate Fund lost 20 cents to close at $10.55 with an exchange of 6,600 shares, Scotia Group added 15 cents to close at $38.35, with 23,403 units traded, Scotia Investments climbed $1.50 in trading 13,000 shares at $36, Seprod closed at $38.55, for a loss of 45 cents with 10,500 shares, Supreme Ventures closed at $6.29, with 37,777 shares changing hands. Margaritaville Turks traded 7 US cents lower to close at 23 US cents with 1,875 units exchanged, Proven Investments gained 2 US cents to close at 29 US cents trading 5,499 ordinary shares and JMMB Group 7.5% preference share closed at $1.10 with trades of 866,369 units.