The main market indices of the Jamaica Stock Exchange dropped sharply at the close on Monday with a number of stocks declining out pacing those advancing by some distance. The All Jamaica Composite Index declined 2,339.28 points to close at 258,282.96, the JSE Market Index fell 2,131.35 points to 235,325.03 and the JSE US dollar market index gained 0.45 points to 200.45.
At the close of trading, 26 securities changed hands in the main market with 1 trading in the US dollar market, leading to 7 stocks advancing and 12 declining and one traded at a 52 weeks’ intraday high. Trading in the main market ended with more shares traded on Monday than on Friday but with less value. The volume traded ended with 5,146,243 units valued at $51,796,808 changing hands compared to 3,645,879 units valued at $88,098,872 at the close on Friday. Trading in the US dollar market accounted for 2,720 units valued at US$707.
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 10 stocks with bids higher than their last selling prices and 1 with lower offers.
The main market ended trading with an average of 197,932 units valued at $1,992,185 for every security traded compared to an average of 140,226 units valued at a mere $3,388,418 on Friday. The average volume and value for the month to date ended at 147,042 units with an average value of $3,957,530 compared with an average of 139,772 units with an average value of $4,238,293 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments closed at $7 exchanging 10,000 units, Berger Paints closed at $19, with gains of 25 cents trading 5,555 shares, Cable and Wireless traded 9 cents lower to close at $1.16, with an exchange of 37,000 stock units, Caribbean Cement closed at $26.35, with a loss of $1.65 trading 31,186 shares, Carreras exchanged 8,057 shares at $89, Grace Kennedy closed at $40.90, losing $2.10, trading 231,886 units, Jamaica Broilers gained 35 cents to close at $18, with 130,40 shares changing hands, Jamaica Producers closed at $14.10, with a loss of $1.90 trading 51,088 units. Jamaica Stock Exchange traded 20 cents lower to close at $7, with an exchange of 86,306 shares, JMMB Group lost 50 cents to close at $20.50, exchanging 24,890 units, Kingston Wharves closed at $30.50, with 14,734 shares traded, Mayberry Investments lost 57 cents to close at $4.50, with trades of 15,000 units, NCB Financial Group closed at $71.50, after exchanging 206,040 shares, 1834 Investments closed at $1.30, losing 15 cents with 931,796 shares changing hands. PanJam Investment closed at $33, with a loss of $1 trading 4,200 shares, Portland JSXtraded 5 cents lower to close at $9.95, with an exchange of 1,000 units, Pulse Investments lost 40 cents, closing at $16.10 trading 5,520 shares, Radio Jamaica closed at $1.66 exchanging 936,672 shares, Sagicor Group closed at $34.25, losing 13 cents with trades of 21,918 shares, Sagicor Real Estate Fund traded 30 cents higher to close at $10.70 with 25,561 shares being exchanged. Salada Foods gained $1, closing at a 52 weeks’ high of $11 with 220 units changing hands, Scotia Group closed at $42.60, with gains of 59 cents exchanging 195,958 shares, Seprod closed at $29.50 trading 200,548 shares, Sterling Investments exchanged 3,100 units at $15.50 while Supreme Ventures traded 1 cent higher to close at $7.50, with 65,203 shares changing hands. Proven Investments gained 0.02 US cents trading 2,720 ordinary shares to close at 26 US cents and JMMB Group 7.5% preference share closed at $1.15, with trades of 1,902,400 units.
JSE trading in record territory
The main market of the Jamaica Stock Exchange is trading at record levels in the morning session on Wednesday.
The All Jamaica Index crossed over the 260,000 points mark, to hit 260,625.67 points at 11.30 am after adding 3,317.30 points. The Main Market Index is up 3,022.44 to 237,459.51 while the Combined Index jumped 2,631.98 points to 253,640.67. The US Equities Index slipped 6.38 to 212.61 and the Junior Market Index lost 15.43 to trade at 3,252.90.
Stocks with noticeable moves, are Berger Paints that traded at a all-time high of $20, Caribbean Cement traded at $32,a big recovery from yesterday’s low. The rise comes against the back ground of some shareholders slated to meet with management later today, in an attempt to clarify a number of issues relating to the company’s finances. NCBFinancial Group traded at $71.99 and Salada Foods jumped from $6.50 to $8 after the company released results for the half year, showing strong rise in profit.
In the Junior Market, Caribbean Producers rose to $4.50 in response to improved nine months’ results while Jamaican Teas rose to a new high of $5.10, in trading 134,800 shares and Main Event jumped to a new high of $8.
JSE majors slipped slightly on Monday
Trading in the main market of the Jamaica Stock Exchange closed on Monday with 26 securities changing hands with 1 trading in the US dollar market. At the close, 10 stocks advanced and 8 declined with the main market ending in 2,884,030 units valued at $64,356,186 trading compared to 4,838,789 units valued at $105,278,278 at the close on Wednesday.
Trading in the US dollar market accounted for only 1,502 units valued at US$450. The All Jamaica Composite Index declined 144.74 points to close at 257,591.70, the JSE Market Index fell 131.87 points to finish at 234,695.22 and the JSE US dollar market index closed unchanged at 218.99 points.
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 1 with a lower offer.
The main market ended trading with an average of 110,924 units valued at $2,475,238 per security traded, compared to an average of 256,060 units valued at $2,718,995 on Friday. The average volume for the month to date ended at 188,647 units with an average value of $3,859,708 versus 204,192 units with an average value of $4,136,602 on the prior trading day. The average volume and value for April ended at 382,748 units with an average value of $5,254,387.
In market activity, Berger Paints lost 5 cents to close at $16.85, in trading of 17,380 shares, Cable and Wireless closed at $1.34, with 353,181 shares changing hands, Caribbean Cement traded $1 higher to close at $29 with an exchange of 13,220 units, Carreras closed at $77 exchanging 57,323 shares, Grace Kennedy closed at $42.50, after gaining 25 cents and trading 800,378 units. Jamaica Broilers closed at $17.50, with gains of 50 cents trading 64,249 shares, Jamaica Producers closed $1 lower to $17.60 exchanging 223,675 shares and Jamaica Stock Exchange closed at $7.75, with a loss of 25 cents, trading 12,138 shares, JMMB Group closed at $21.25, losing 25 cents with trades of 11,790 units, Kingston Wharves traded 90 cents lower to close at $30, with 11,511 shares changing hands. Mayberry Investments gained 5 cents to close at $4.55 with an exchange of 78,234 shares, NCB Financial Group closed at $71, after exchanging 143,410 shares, 1834 Investments gained 6 cents to close at $1.50, trading 4,300 shares, 138 Student Living traded 100 units at $4.50, PanJam Investment closed 19 cents higher to $35.20, in exchanging 7,317 shares, Portland JSX Fund closed at $10.60 trading 800 units. Pulse Investments closed trading at $9.10 in gaining $1.05 with 113,536 shares swapping owners, Radio Jamaica gained 2 cents and closed at $1.67, with 43,300 shares, Sagicor Group closed at $33.50, to record a gain of 45 cents in trading 29,153 shares, Sagicor Real Estate Fund gained 5 cents to close at $10.35 while exchanging 8,200 units, coffee processors, Salada Foods traded 2,700 units at $8, Scotia Group closed 50 cents lower at $43, with 29,579 units changing hands, Seprod shed $3.50 to close at $36, trading 15,860 shares Sterling Investments lost 1 cent to close at $17 with an exchange of 500 units, Supreme Ventures closed at $6.38, with trades of 678,489 shares and Proven Investments exchanged 1,502 ordinary shares at 30 US cents.
Access exits TOP 10 at record $47
The Jamaica Stock Exchange, two main market closed at record highs on Friday and there are some changes to the TOP 10 listings. Since IC Insider last reported on the lists, on April 21, Access Financial and Caribbean Cream are out of the list for Junior Market while Berger Paints exited the top 10 for the main market.
In the Junior Market, Lasco Distributors returned to the top list and CAC 2000 entered for the first time and Berger was replaced in the main market by Salada Foods with the price having fallen to $6.50.
Access jumped to a new high of $47 during the week and Caribbean Cream earnings has been downgraded to 70 cents per share for 2018 fiscal year while Berger rose to $16 on the announcement of an increased dividend of 50 cents per share.
The average PE ratio of the Junior Market and the Main Market are currently at an average of 13, on this year’s estimated earnings. At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks continue to trade at an average discount of just under 37 percent to the Junior Market average, those in the main market are trading at a 53 percent discount, to the average of the market, leaving several stocks with room for growth for the rest of the year.
The coming week should be dominated by the release of 2017 first quarter results for the majority of stocks that could result in major changes to the TOP lists.
During the week Pulse Investments announced 2 for 1 stock split.
JSE majors slip on Monday
Trading ended on the Jamaica stock market with 10,283,114 units valued at $50,915,307 changing hands, in all market segments with 33 securities trading. The junior market accounted for 1,290,587 units, valued at $4,845,099. A total 11 stocks in the combined markets gained, 10 declined while 4 stocks closed at 52 weeks’ high and 1 traded at an intraday high.
138 Student Living had another day of with a large trade of 8,520,000 units at $4.50, valued at $38.34 million, much less than the 58,949,590 units valued at $265,273,155 traded on Friday.
At the close the JSE Market Index fell 38.30 points to 146,585.49, the all Jamaica Composite Index eased 42.80 points to end at 162,773.85 and the JSE combined index added 156.87 points to close at 153,500.13. The main market continues to face a test around the 165,000 points resistance level, on the all Jamaica composite index.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 9 stocks with bids higher than their last selling prices and 4 with lower offers.
In trading, Cable and Wireless gained 1 cents with 77,265 units changing hands to close at $1.31, Caribbean Cement fell 33 cents to end at $17.87 with 16,000 shares changing hands, Carreras gained 75 cents, in closing at a new 52 weeks’ high of $60.75, with 42,612 units changing hands. Gleaner rose 8 cents with 8,320 units changing hands at $1.34, Grace Kennedy fell 12 cents, with 1,230 units changing hands, to finish at $79.88. Jamaica Broilers price jumped $1.86 to $10.50 with 19,726 shares changing hands, Jamaica Producers traded 1,000 shares at $31.90, The Jamaica Stock Exchange share lost $2.25 with 28,610 units changing hands to close at $16.70, Kingston Wharves had trading in 9,509 shares at $11.35. Mayberry Investments had 65,011 shares trading at $4.35, for a loss of 35 cents, National Commercial Bank rose just 1 cent and ended at $39.01, with 29,432 units changing hands, Radio Jamaica traded 1,000 units early in the day at $2.25 and ended the day at $3 while 11,400 units changed hands. Sagicor Group closed with 61,827 units changing hands at $17.50, Salada Foods lost 51 cents in trading 51,562 shares at $8.50, Scotia Group declined by 1 cent with 8,741 shares changing hands at $30.98, Supreme Ventures rose 60 cents to end at $4.60, with 7,128 units changing hands and Proven Investments had 16,130 shares trading at 22 US cents, for a loss of 0.99 cents.