Jamaican stocks in record climb
A fall of $4.98 in the price of National Commercial Bank (NCB) to $61.01 was not enough to do much damage to the main market indices in the morning session on Thursday, as a number of other stocks hit 52 weeks’ highs in trading.
Stocks trading at new highs include Jamaica Producers at $16.50, Mayberry Investments at $5.97, Scotia Group at $41, PanJam Investment at $34 and Sagicor Group at $33 and in the junior market Blue Power Group at $41, Consolidated Bakeries at $3.60 and in the US market Margaritaville Turks hit 29 US cents and Proven Investments at 25 US cents.
All major markets indices hit new records during the morning session but with moderate trading taking place. The all Jamaica Composite Index raced 3,590.01 points to 239,523.12 the Jamaica Stock Exchange Market Index surged 3,210.11 points to 218,550.79, the Jamaica Stock Exchange combined index jumped 3,189.0 points to 232,324.56 and the junior market index jumped 20.67 points to 2,885.60.
Securities changing hands, amount to 37 at 10:45 am compared to 39 trading on Wednesday at 10:15am. A total of 21 securities advanced and 6 declined, resulting in a volume of 2,909,426 shares changing hands, carrying a value of $46,637,055, versus 873,317 shares changing hands, carrying a value of $11,028,042,, the average trade for the early session amounted to 78,633 units, compared to 22,393 shares previously.
Sharp jump for JSE stock index
National Commercial Bank (NCB) moved up to a new record high of $60 and Jamaica Producers climbed to a new high of $13 helping to push the main market sharply upwards with the all Jamaica composite Index well over the 230,000 points level.
National Commercial Bank moved up to a new record high of $59 and Jamaica Producers traded just 4,554 units and had no stock on offer while NCB which started trading at $58.20 and rose to $60 but fell back $57 with 56,500 shares trading with the bid back at $59, NCB has only one offer posted to sell 10,000 units at $63.20, Sagicor Group traded 112,753 shares at $30, but now has no stock on offer. Seprod has not traded but has no stock on offer with the bid at $30.
All major markets indices hit new records during the morning session but with moderate trading taking place. The all Jamaica Composite Index jumped 4,740.24 points to 230,861.73 the Jamaica Stock Exchange Market Index leapt 3,933.07 points to 210,805.97, the Jamaica Stock Exchange combined index surged 4,238.60 points to 224,566.64 and the junior market index inched 0.26 points to 2,829.55.
Securities changing hands, amount to 27 at 10:45 am compared to 28 trading on Friday. A total of 12 securities advanced and 7 declined, resulting in a volume of 880,842 shares changing hands, carrying a value of $12,045,282, versus 554,414 shares changing hands, carrying a value of $6,229,690, the average trade for the early session amounted to 29,957 units, compared to 19,801 shares previously.
New record close for JSE majors
The high levels of trading above the $220 million market seen in the market for the previous 5 trading days ended on Thursday with less than $100 million of trading. At the close, 3,687,829 units valued at $80,933,897 changed hands, compared to 13,315,100 units valued at $237,592,401 changing hands on Wednesday. Of the stocks traded, the junior market accounted for 542,606 units valued at $3,545,918.
The market closed with 43 securities changing hands, with 16 stocks rising and falling in the overall market, including 6 stocks rising and 5 falling, in the junior market. A total of 8 securities ended at new 52 weeks’ closing highs.
At the close the All Jamaica Composite Index gained 1,486.31 points to close at 217,038.89. The JSE Market Index rose 1,268.01 points to finish at 198,445.93 and the JSE combined index climbed 1,077.42 points to close at 212,917.33.
The average trade for the day in the main market ended at 116,490 shares compared to an average of 275,383 units traded on Wednesday. An average of 291,945 units traded for the month to date, versus 467,399 units on the previous trading day. The average for the month of December ended at 549,379 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 21 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints jumped $1, pushing the price to a new closing high at $10.50 while trading 123,265 shares, Cable and Wireless ended with 626,427 units at $1.18, after losing 7 cents, Caribbean Cement surged $3 in trading 865,850 shares to close at 52 weeks’ high of $36.50. Carreras closed at $66.70 with 27,280 shares changing hands, 1834 Investments traded 62,439 units at $1.30, Grace Kennedy had 50,652 units trading to close at $40.65, after gaining 15 cents, Jamaica Broilers lost 2 cents and closed at $15 with 21,213 shares changing hands. Jamaica Producers traded 250,000 shares after losing 30 cents to end $11.50, Jamaica Stock Exchange lost 10 cents to close at $5.50, having traded 51,865 shares, JMMB Group traded 114,080 units at $15.50, gaining 15 cents, Kingston Wharves ended up trading just 600 units and adding 26 cents to close at $27.75. Mayberry Investments traded 36,000 shares with gains of 75 cents, to close at $5, National Commercial Bank lost 58 cents to close at $52.02 after swapping 519,708 shares, Pan Jamaican gained 35 cents and closed at $30 with 26,688 units traded, Portland JSX closed at $9 after falling by 50 cents while trading 7,079 units. Pulse Investments traded 45,950 units, gaining 35 cents to close at a 52 weeks’ high of $5.30, Radio Jamaica lost 5 cents, closing at $1.35 with 15,200 shares traded, Sagicor Group closed with 49,810 shares changing hands with a gain of 96 cents to $30. Sagicor Real Estate fund traded 20,400 units and closed at $9.50, Scotia Group, with 118,490 shares changing hands lost 89 cents to close at $36.11. Scotia Investments traded 28,694 units, gaining 99 cents to close at $33.49, Supreme Ventures lost 11 cents in trading 10,500 shares to close at $5.10 and Proven Investments traded 67,260 ordinary shares to close at 23 US cents.