The Jamaica Stock Exchange was off to a spirited start on Friday. By 9.35am, 8 securities traded, pushing the all Jamaica composite Index up 550.88 points to 103,543.13 and the JSE market Index up by 492.72 points to 93,757.15.
By 10 am the indices were up strongly as a number of stocks hit new 52 weeks high. The all Jamaica composite Index is up 935.61 points to 103,927.86 and the JSE market Index up by 836.32 points to 94,101.25, after an hours trading and the number of securities trading is up to 11.
Only one junior market stock has traded so far. Stocks pushing the indices are Carreras up to $47.40 from $47.08, Desnoes & Geddes up to $6.49 from $6.02, Sagicor group trading at $12 up from Thursday’s $11.01.
Market off to brisk start on Friday
JSE to repeat today’s gains on Thursday
The Investors Choice bid-offer Indicator shows 11 stocks with bids higher than their last selling prices and 2 with offers that were lower, in the main and junior markets. IC Indicator reading is suggesting that the number of trades on Thursday should see another day of many more stocks rising than falling.
Activity on the Jamaica Stock Exchange, resulted in 23 securities changing hands and ending with 4,735,155 units trading, valued at $24,434,254, in all market segments. National Commercial Bank, closed at a new 52 weeks’ high of $26.50 with 301,200 shares changing hands at 50 cents higher than on Tuesday and ahead of the company reporting six months results and dividend payment on Thursday.
Main Market| The JSE Market Index gained 474.33 points to 86,299.76, the JSE All Jamaican Composite index rose 530.32 points to close at 95,205.43 and the JSE combined index gained 446.19 points to close at 87,994.37.
Cable & Wireless with 256,932 units traded at 52 cents and ended with the bid at 53 cents to buy 100,000 shares. Ciboney Group traded 2,000,000 shares at 6, Desnoes & Geddes gained 10 cents and traded 29,400 at $6 with an offer at $6.50 at the close. Grace Kennedy with 19,224 shares that traded closed at 90 cents higher at $63, Jamaica Broilers had 86,530 shares trading to close at $4.70,
JMMB Group traded 855,593 ordinary shares for 38 cents higher at $7.48. The stock had JMMB Securities on the offer selling 268,800 units at $7.48, 5000 units at $7.50 and 34,655 shares at $8.50 as the lowest offers posted at the end of trading.The broker posted small buy orders from $7.03 to $7.10. Victoria Mutual Wealth Management sold the bulk of the shares to trade with Sagiocr Investments being the major buyer of them.
Radio Jamaica traded 13,372 shares at $2 to gain 25 cents, Sagicor Group traded 66,350 shares to close at $10.55 while gaining 10 cents in the process but traded as high as $10.75 before the close. Sagicor Real Estate X Fund had 529,519 units changing hands to close at $6.50, after shedding 25 cents. Salada Foods traded 35,480 at $9, Scotia Group saw 118,289 units, closing at $22, Supreme Ventures 19,900 units traded 4 cents higher at $2.84 and Jamaica Money Market Brokers 8.75% preference share, traded 317,331 units at $3.20 with an increase of 10 cents.
JSE near 2 year high with 2,528 points rise
Main Market|The JSE Market Index gained 2,261.39 points to 87,351.52, the JSE All Jamaican Composite index rose 2,528.34 points to close at 96,381.35 putting it back in line with the close of 96,381.58 on May 3, 2012 and the JSE combined index gained 2,134.42 points to close at 89,072.22. Scotia Group’s price movement to $24.50 in early trading was the major factor behind the big surge in the main market indices, as such there may be a fall back on Tuesday as Scotia’s price seems likely to settle back well below the price of $23.81 used in computing today’s indices, unless other stocks move up to compensate.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 9 stocks with bids higher than their last selling prices and just 4 with offers that were lower, with 2 of the offers being stocks that hardly trade.
In trading, Scotia Investments bought all Scotia Group’s shares to trade, in the early morning session up to $24.50, for a 52 weeks intra-day high, but the stock ended with 205,115 units trading to close at $22.10 with a 24 cents fall from Friday’s last sale price. Desnoes & Geddes traded 92,793 shares up to $5.90, with a 10 cents gain, Grace Kennedy traded 933,318 shares and closed at $62.01, with a total value of $57.8 million, with the price dropping $1.99 from Friday’s last traded price of $64. National Commercial Bank traded only 21,750 shares to close higher at $26, with an increase of 47 cents. Radio Jamaica 86,383 units that traded did so at $2, Sagicor Group 16,400 units traded at $10.50, Sagicor Real Estate Fund had 48,600 units changing hands at $6.75, to gain 25 cents and Jamaica Money Market Brokers 8.75% preference share traded 33,500 units at $3.10.
Kingston Wharves traded just 4,00 shares but ended up gaining 50 cents to close at $6.40, Scotia Investments gained 49 cents in trading 1,200 units at $23.50 and Supreme Ventures traded 4,000 units at $2.80 by gaining 30 cents.
D&G at new high with $64m trade
Sagicor Investments bought the block as brokers for the buyer. Carreras was the other major traded to take place in the market with 1.3 million shares in ten separate trades. NCB Capital Market sold from in house inventory with Scotia Investments being the broker doing the vast majority of the buying. With the exception of 370 shares which traded at $43, the rest traded at $42.
Activity elsewhere on the Jamaica Stock Exchange, resulted in the prices of 7 stocks rising, 7 declining as 20 securities changed hands, ending in 13,368,989 units trading, valued at $131,890,39, in all market segments.
Main Market| The JSE Market Index lost 327.75 points to 85,319.89, the JSE All Jamaican Composite index fell 366.44 points to close at 94,109.89 and the JSE combined index dropped 351.94 points to close at 87,029.50
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 12 stocks with bids higher than their last selling prices and 4 with offers that were lower.
Carreras traded 1,300,000 at $42 for a $1 fall, Grace Kennedy with 47,691 shares closed trading at $63 for a $2 fall, Jamaica Money Market Brokers 7.50% preference share, closed with 250,000 units at $2.02, to record a 2 cents gain, Jamaica Producers Group lost $1.04 in trading only 200 shares and ended at $15.96. Sagicor Group traded 50,268 shares between $10.03 and $10.50 before closing at $10.50, Scotia Group ended up trading 354,932 shares for 45 cents higher at $22.50, Scotia Investments had 20,000 shares changing hands at $23 for a decline of 80 cents and Supreme Ventures closing with 36,120 units at $2.84, a decline of 11 cents. Stocks with good interest to buy are Berger Paints with 200,000 units on the bid at $1.60, Jamaica Broilers with the bid at $4.50 to buy 239,065 shares, JMMB Group with 807,884 shares on the bid at $7.02. Jamaica Producers has buyers for 496,855 units at $15.96, Radio Jamaica 200,000 shares at $1.50, Sagicor Group 341,717 shares on the bid at $10.06 and Scotia Investments with the bid at $23 to buy 133,940 shares.
There is strong interest to sell Sagicor Real Estate X Fund with 1,400,000 being offered at $6.95 and Jamaica Money Market Brokers 8.75% preference share at $3.20 for 400,000 units.
SGJ trades 2.2m shares & NCB 674K
Trading on the Jamaica Stock Exchange is off to a moderate start up to 10:45 Friday and was dominated by Sagicor Group trading 2,226,502 between $10.45 and $10.50, while National Commercial Bank traded 673,941 shares at $25.50, with a bid to buy 492,000 units at $25.50, the offer is at $26 for just over 24,000 shares.
Grace hit a new 52 weeks’ high of $65 while trading a small volume.Only 8 securities has traded so far, with one form the junior market.
The all Jamaica Composite Index climbed back well above the 94,000 mark with a 491 points rally to reach 94,134.38 while the main market index rose 439.16 points to 85,341.78. The junior market index is unchanged at 733.67.
Carreras up $2.54 close to pre-taxed price
Main Market| The JSE Market Index gained 195.37 points to 85,164.97, the JSE All Jamaican Composite index rose 218.43 points to close at 93,936.69 and the JSE combined index gained 130.82 points to close at 86,912.58. IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 4 with offers that were lower.
Cable & Wireless traded 623,636 shares to close at 52 cents, Carreras jumped $2.54 with only 2,365 shares trading to end at $44.05 almost recovering the losses suffered after investors dumped the stock in March, following hike taxes on cigarettes.
Jamaica Broilers traded 269,910 shares at $4.51 and had an offer, to sell 215,000 units at $4.69, Jamaica Producers gained $1 to close at $17 while 6,004 units traded.
National Commercial Bank had 231,819 shares changing hands, to close at $25.50, with a gain of 50 cents, but traded as low as $25 and ending with 679,541 units on the offer at $25.50, with bids for 62,175 units at $25.01. Sagicor Group had 56,189 units trading to close 30 cents higher at $10.50 after trading as low as $10.25, at the close, 29,402 units were on offer at $10.50 and just above that, 1 million units for sale at $10.60. Scotia Investments traded 81,250 units at $23.80 with a gain of 22 cents but closed with a bid of $23.60 to buy 52,510 units while offers were at $23.80 to sell 199,850 units. Supreme Ventures closed trading with 153,850 at $2.30 and Jamaica Money Market Brokers 7.50% traded 370,000 shares at $2.
Near 3 years’ high for JSE on Monday
The Jamaica Stock Market started off the week on a positive note, closing at a 34 months high at the end of trading, on Monday. The JSE Market Index gained 848.12 points to 84,246.09, the JSE All Jamaican Composite index rose 948.24 points to close at 92,909.34 and the JSE combined index climbed 805.21 points at 85,837.84. Monday’s closing All Jamaica Composite Index, is at the highest, since early June 2012.
A 70 cents gain in Scotia Group to close at $22.20 was the main stock that influenced the move in the indices. Jamaica Money Market had earlier traded at $7.99 cents, up 75 cents and would have also positively impacted the indices. Although the indices of the main market moved up strongly, it came out of almost even advanced declined ratio. Only 624,118 units traded in the main and US dollar markets. On a day of low volumes, the leading trades were National Commercial Bank with 120,019 shares and Sagicor Group with 104,619 units.