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.
TCL fall pulls TTSE market index down
Market activity resulted in 15 securities traded, compared to 13 on Wednesday with 6 stocks advancing, 4 holding firm and 5 declining. The number of shares that changed hands amounted to 482,036 units valued at $3,773,912 compared to 95,386 shares valued at $2,016,084 on Wednesday.
At the close the Composite Index advanced 1.89 points to 1,223.91, thanks to gains in three Jamaican based stocks, the All T & T Index slid 3.19 points to 1,833.93 and the Cross Listed Index gained 0.96 points to 82.15.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 7 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| Angostura Holdings added 1 cent to close trading at $14.72 with an exchange of 11,968 shares, JMMB Group rose 6 cents to close at a 52 weeks high of $1.16 with 43,691 units being purchased, National Commercial Bank climbed 15 cents, closing at a 52 weeks high of $3.35 with 193,012 units traded, valued at $632,749. Scotia Investments closed at $2.21, gaining 1 cent with 1,100 shares changing hands, Trinidad & Tobago NGL traded 9,694 units to close at $21, for a gain of 35 cents and West Indian Tobacco added 2 cents to close at $127.02 with 578 shares changing owners.
Losses| Clico Investment lost 8 cents, closing at $22.50 with trades of 86,187 shares valued at $1,939,787, Massy Holdings closed at $51.42, a loss of 2 cents with 578 units traded, Sagicor Financial closed down by 5 cents to $8.50 with 22,247 shares being exchanged. Scotiabank traded 331 units, closing at $58.70, after a loss of 5 cents and Trinidad Cement traded just 500 shares to close at $4.55, after losing 50 cents.
Firm Trades| Ansa McAL was unchanged at $65.84 with 2,306 units changing hands, First Citizens exchanged a mere 42 shares to close at $34.93, Grace Kennedy closed at $2.68 with 109,095 shares traded and Guardian Holdings held firm at $13.13 with 707 units changing hands.
Huge interest in Main Event
The Jamaica Stock Exchange latest potential listing on junior market, Main Event, pulled in just over 1,000 applications worth $670 million dollars, being 458 percent over subscribed.
The offering which closed on the same day it opened Tuesday January 24, is one with the largest number of applicant and is in line with Caribbean Producers and General Accident both with more than 1,100 applications.
According to Gary Peart, Chief Executive officer of Mayberry Investments, the broker for the deal there were several small applications. The level of over subscription is far worse than meets the eye with 22 million shares available to the wider public, to be split up amongst approximately 900 applicants. That works out at around 25,000 shares for each applicant.
The interest in the shares and the low level of shares that will be allocated to each applicant is going to have an electric impact on the post listing pricing by the market.
Trinidad Cement price drops sharply
The market closed with the All Composite and the All T&T indices sustaining losses. Trading activity resulted in 3 stocks advancing, 8 holding firm and 2 declining. A total of only 95,386 units were exchanged at a value of $2,016,084 compared to 757,514 shares valued at $7,647,257 on Tuesday.
The Composite Index lost 1.03 points to 1,222.02, the All T&T Index declined 2.20 points to 1,837.12 and the Cross Listed Index only added 0.02 points to 81.19.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| Grace Kennedy gained 4 cents to close at $2.68 with 35,738 units changing hands, Guardian Holdings added 3 cents, closing at $13.13 with an exchange of 477 shares and Sagicor Financial closed at a 52 weeks’ high of $8.55, an increase of 9 cents with 10,000 shares being traded.
Losses| Republic Financial Holdings closed at $108.34, a loss of 4 cents with trades of 1,744 shares and Trinidad Cement traded 4,000 shares to close at $5.05, after losing 45 cents.
Firm Trades| Ansa McAL closed at $65.84 with 40 units changing hands, Clico Investment traded 18,224 shares valued at $411,481 and closed at $22.58, National Enterprises exchanged 100 shares holding firm at $10.77, National Flour Mills was unchanged at $2.70 with an exchange of 3,651 shares. Prestige Holdings closed at $11 with trades of 422 units, Scotiabank with an exchange of 20,100 units valued at $1,180,863, to close at $58.75, Trinidad & Tobago NGL traded 470 shares and closed at $2.65 and L.J. Williams 8% preference share remained unchanged at $3.30 with 420 units, with ownership being switched.
Juniors hit new record in early trading
Trading on the Jamaica Stock Exchange in the early morning session resulted in the junior market continue to hit new record but the main market rose moderately above Tuesday’s close in moderate trading across most stocks.
A number of stocks traded at new highs, these include Berger trading 5,708 units at $9.50, General Accident at $3.50 with just 100 units and Pulse Investments that traded 12,000 units at $4.90.
Securities changing hands, amount to 35 at 10:45 am. A total of 13 securities advanced and 7 declined, resulting in a volume of 1,042,543 shares changing hands, carrying a value of $12,874,286, the average trade in the early session amounted to 29,787 units.
The all Jamaica Composite Index rose 65.04 points to 215,711.24 the Jamaica Stock Exchange Market Index rose 58.15 points to 197,258.77, the Jamaica Stock Exchange combined index gained 314.96 points to 212,009.88 and the junior market index climbed 25.39 points to 2,830.08.
Gains for 58% of TTSE traded stocks
Trading ended with 7 stocks advancing, 3 holding firm and 2 declining. A total of 757,514 units were exchanged at a value of $7,647,257 compared to 2,076,758 shares valued at $12,907,895 on Monday.
The Composite Index gained 0.75 points to 1,223.05, the All T&T Index declined 1.46 points to 1,839.32 and the Cross Listed Index added 0.40 points to 81.17.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| Angostura Holdings added 1 cent to close at $14.71 with 30,000 shares traded at a value of $441,300, Clico Investment gained 7 cents to close at $2.58 with 60,000 units exchanged valued at $1,355,000, Grace Kennedy closed trading at $2.64, gaining 4 cents with 567 units changing hands. Praetorian Property Fund added 9 cents, closing at $2.85 with 20,000 units switching owners. Sagicor Financial closed at a 52 weeks’ high of $8.46, rising 31 cents with 46,239 shares being transferred, valued at $391,197, Scotia Investments traded 20,000 shares to close at a 52 weeks’ high of $2.20, having gained 10 cents and Trinidad & Tobago NGL rose 13 cents to $20.65 with an exchange of 3,761 units.
< Strong> Losses| Ansa McAL closed at $65.84, with a loss of 12 cents in exchanging 30,814 units valued at $2,028,672 and Massy Holdings traded 4,221 shares to close at $51.44, after losing 4 cents.
Firm Trades| Scotiabank held firm at $58.75 with 2,021 units changing hands, Trinidad Cement remained unchanged at $5.50 but 539,691 shares being traded having traded as low as $5.20 during the trading session and West Indian Tobacco closed trading at $127 with 200 units changing owners.