Prices of stocks, on the main market of the Jamaica Stock Exchange, pulled sharply on Thursday, as the market closed with 42 securities changing hands of which 15 gained while 15 declined in the overall market, including 7 stocks rising and 5 falling, in the junior market.
At the close the All Jamaica Composite Index fell sharply 2,014.74 points, to close at 210,401.76. The JSE Market Index dropped 1,801.53 points to finish at 192,511.16. The JSE combined index pulled back 1,327.76 points to close at 205,435.54.
At the close with 2,993,596 units valued at $27,027,397 changed hands, compared to 3,784,854 units valued at $25,405,860 changing hands on Thursday. Of the stocks traded, the junior market accounted for 2,710,965 units changing hands, valued at $12,580,140.
The average trade for the day in the main market ended at 84,869 shares compared to an average of 70,171 units traded on Wednesday. The average for the month to date is 132,234 units and December ended with an average of 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 2 with lower offers.
In market activity, Barita Investments slipped 50 cents while trading 19,334 shares to close at $6, Cable & Wireless gained 3 cents to close at 85 cents with 268,474 units trading, Caribbean Cement ended with a $1 loss while trading 1,259 shares at $33. Carreras closed at $66 with 6,348 shares changing hands, Investors traded 219,390 shares of 1834 Investments to close with a fall of 2 cents at $1.20, Grace Kennedy fell 9 cents to close at $40.40 with 167,066 shares changing hands. Jamaica Broilers gained 10 cents and closed at $14.6 with 19,700 shares changing hands, Jamaica Producers shed 10 cents to end at $9.40 with 4,490 units trading, Jamaica Stock Exchange gained 4 cents in trading 14,215 shares, to end at $5.56. JMMB Group traded 52,800 units and added 10 cents to end at $14.70, Kingston Wharves slipped $2 and traded 42,898 shares at $20, Mayberry Investments gained 5 cents to end at $4.80 with 1,721 shares changing hands. National Commercial Bank traded 6,836 shares with a gain of $1.25 to close at $51.50. The closest offer for NCB is at $54.80 to sell 18,500 units, PANJAM Investment traded 35,107 shares and shed $1 to close at $26.50. Portland JSX gained 5 cents in trading 45,400 units at $11, Pulse Investments traded 19,715 shares at $4, Radio Jamaica lost 2 cents to close at $1.26 after 388,684 shares changed hands, Sagicor Group closed with 227,944 shares changing hands at $29.04. Sagicor X Fund ended with 250,230 units trading, with a gain of 30 cents to close at $10.50. Scotia Group with 16,835 shares changing hands and closed with a fall of $3.30 at $35, Scotia Investments lost $1.50 with 13,874 units trading, to end at $28, Proven Investments ordinary share traded 74,000 units at 22 US cents and JMMB Group 7.5 percent preference share traded 300,000 units $1.08.
All round rise for TTSE market indices
Trading on the Trinidad & Tobago Stock Exchange on Thursday maintained Wednesday’s performance but with 11 securities changing hands compared to 8. The market closed on Thursday with 3 stocks advancing, 2 losing and 6 unchanged as 326,391 units were traded at a value of $3,531,245 compared to Wednesday’s 117,706 shares valued at $3,555,197.
The Composite Index advanced 0.73 points to 1,212.18 points, the All T&T Index gained 0.43 points to 1,835.20 and the Cross Listed Index rose 0.14 points to 78.76 points.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 4 with lower offers.
Gains| Massy Holdings closed at $52 and gaining of 1 cent with 779 units trading, National Enterprises added 3 cents to close at $10.68 with 17,250 shares changing hands and Sagicor Financial ended the day’s trading at a 52 weeks’ closing high of $7.91, up 5 cents with an exchange of 6,873 units.
Strong> Losses| First Citizens bank lost 2 cents to close at $34.98 with 428 shares changing owners and Clico Investments was down 1 cent to $22.79 with 150 shares trading.
Firm Trades | Guardian Holdings held firm at $13 with an exchange of 210,092 shares valued at $2,614,196, JMMB Group was unchanged at 92 cents trading 64,442 units while National Commercial Bank closed at $3.05 with 1,000 units changing owners. Point Lisas closed at $3.75 with trades of 10,000 shares, Republic Financial Holdings with 92 units traded, closed at $108.44 and Trinidad & Tobago NGL traded 24,285 shares closing at $20.99 with a value of $509,742.
Jamaican$ loses ground on Thursday
On Thursday the central bank reported net outflows US$2.7 million and an across the board fall in the value for the Jamaican dollar except for a gain in the selling rate of the euro.
At the close of the market, dealers bought the equivalent of US$36,967,257 of all currencies and sold US$39,708,349, compared to US$85,048,825 purchased and US$70,824,719 sold on Wednesday.
In US dollar trading, dealers bought US$30,748,354 compared to US$76,958,108 on Wednesday. The buying rate for the US dollar rose 18 cents to close at $127.49. A total of US$35,784,226 was sold versus US$64,143,542 on Wednesday, with the selling rate rising 21 cents to $128.55. The Canadian dollar buying rate climbed $3.03 to $95.13, with dealers buying C$3,819,861 and selling C$2,730,497 at an average rate that rose $1.61 to end at $96.71. The average rate for buying the British Pound climbed $1.03 to $155.79 for the purchase of £2,574,231 while £1,415,888 was sold with a rise of 60 cents to end at $157.23.
At the end of trading on Thursday, dealers sold €108,162 with the selling rate for the Euro, closing with a decline of $1.11 to $133.13, according to data from Bank of Jamaica. Dealers purchased €190,099 of the European common currency at $129.56 after gaining $1.62. The US dollar equivalent of other currencies traded, amounts to US$29,692 being bought and selling of US$25,989.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Thursday, include a rise of $1 in the highest buying rate for the Canadian dollar to end at $98.50. The highest buying rate for the British Pound dropped $2.39 to $159.80, the lowest selling rate fell $1.20 to $151, while the highest buying rate for the Euro added $1 to end at $133, the highest selling rate declined by $1.30 to end at $140.40 and the lowest selling rate put on $12.11 to close at $126.25.
JSE pushes higher to new record – Thursday
The Jamaica Stock Exchange was pushed to yet another morning of new high, with the all Jamaica Composite Index breaking the 213,000 points level for the first time after 20 minutes of trading to 213,061.86 points. Scotia Group traded 9,145 at a new high of $39, up 70 cents for the day contributing to the increase in the market. The junior market also moved higher from Wednesday’s close.
Market activity resulted in 29 securities trading at 10:45 am, compared to 31 on Wednesday. A total of 10 securities advanced and 7 declined, resulting in a volume of 1,153,658 shares changing hands, carrying a value of $6,116,182, compared of 2,248,154 shares changing hands, carrying a value of $19,672,487 on Wednesday. The average number of shares traded, amount to 39,781 units versus 72,521 units on Wednesday.
Radio Jamaica with 337,200 shares trading at $1.30 was the leading trade, followed by JMMB Group 7.50% preference share with 300,000 units at $1.08, Cable & Wireless with 164,574 units at 82 cents and junior market listed Jetcon Corporation with 80,840 units at $6.
The all Jamaica Composite Index rose 535.16 points to a record 212,951.66, the Jamaica Stock Exchange Market Index climbed 478.53 points to an all-time high of 194,791.22, the Jamaica Stock Exchange combined index jumped 596.78 points to a record high of 207,360.08 and the junior market index climbed 14.89 points to 2,600.35.
820% jump in junior market trades – Wednesday
The prices of 7 stocks rose, 5 declined with 16 securities trading, compared to 12 trading on Tuesday. Volume of stocks traded jumped 820 percent on Wednesday, from Tuesday’s low level, ending with 2,710,965 units changing hands, valued at $12,580,140, up 723 percent from $1,529,067 on Tuesday.
Market activities ended with 5 securities closing with bids higher than their last selling prices and 2 ending with lower offers. At the close, Access Financial ended with a bid of $25 versus the last sale of $22, AMG Packaging bid is at $27.05 with and last traded at $24.51, Eppley bid is $8.50 compared to a last sale of $4.90, these stocks have no stock being offered for sale for some time.
An average of 169,435 units with an average value of $786,259 traded, compared to 24,567 units with an average value of $127,422 on the preceding trading day. The average for the month to date is 97,001 units with an average value of $456,841. The average for December is 131,147 units, at an average of $672,488.
At the close of trading, Cargo Handlers closed at $18.60 with 3,121 units changing hands, Caribbean Cream gained 70 cents with 6,000 units being exchanged to end at $7.30. Caribbean Flavours fell 75 cent while trading 13,000 shares to close at $11.25, Consolidated Bakeries rose 9 cents in trading 15,000 shares to close at $2.35, Derrimon Trading ended at $5.50 with 176,694 shares changing hands, after rising by 40 cents, General Accident gained 20 cents and closed trading with 1,000 units at $3, Honey Bun had 17,005 shares changing hands to close at $5.50 after falling 18 cents. Iron Rock Insurance traded 31,614 shares to end at $4, Jamaican Teas ended at $4.25 with 102,572 shares being exchanged. Jetcon Corporation gained 5 cents, to close at a 52 weeks’ high of $6.05, with 22,222 shares, KLE Group lost 5 cents and closed with 3,100 shares trading at $1.90, Knutsford Express traded 8,321 shares and gained $2.50 in closing at $22.50, Lasco Distributors ended with 36,725 units trading with a fall of 51 cents to $6.50. Lasco Financial rose 31 cents with 1,386,210 shares changing hands, to end at $3.50, Lasco Manufacturing fell 5 cents and ended at $4.85, after 67,645 units switched hands and Eppley 8.25% preference share traded 820,736 units at $6.
Guardian help push TTSE index
Trading activity on the Trinidad & Tobago Stock Exchange on Wednesday continues to reflect constrains by investors with slightly more stocks falling than rising in spite of gains in all indices due mainly to a 34 cents gain in Guardian Holdings.
Trading resulted in 10 securities changing hands compared to 8 on Tuesday; 3 stocks advanced, 4 declined and 3 held firm with 117,706 units being traded at a value of $3,555,197 compared to the Tuesday’s 162,833 shares valued at $2,093,835.
The Composite Index gained 0.88 points to 1,211.45 points, the All T & T Index advanced 1.42 points to 1,834.77 and the Cross Listed Index rose 0.04 points to 78.62 points.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 3 with lower offers.
Gains| Guardian Holdings gained 34 cents to close at $13 after trading 59,500 shares valued at $772,631, JMMB Group advanced 2 cents to 92 cents with 752 shares changing hands and West Indian Tobacco closed at $127 with an increase of 5 cents in the exchange of 15,542 units valued at $1,973,683.
Losses| Massy Holdings closed at $51.99, falling 1 cent with 161 shares changing owners, Scotiabank was down 8 cents, closing trading at $58.77 with an exchange of 1,111 shares. Trinidad & Tobago NGL lost 1 cent to close at $20.99 with 633 shares changing ownership and Unilever traded 10,000 shares and lost 1 cents to closing at $59.83.
Firm Trades | Grace Kennedy was unchanged at $2.67 with an exchange of 11,000 shares, Prestige Holdings held firm at $11 with 1,373 units trading and Trinidad Cement with 17,634 units traded, closed at $4.45.
Jamaican$ gains in value – Wednesday
Bank of Jamaica had no trading data for the first trading day of 2017, for foreign exchange trading on Tuesday. On Wednesday, the central bank reported net inflows of US$14 million and an across the board increased value for the Jamaican dollar.
At the close of the market, dealers bought the equivalent of US$85,048,825 of all currencies and sold US$70,824,719, compared to US$49,393,835 purchased and US$48,140,699 sold on Friday.
In US dollar trading, dealers bought US$76,958,108 compared to US$41,924,249 on Friday. The buying rate for the US dollar lost 17 cents to close at $127.31. A total of US$64,143,542 was sold versus US$42,123,238 on Friday, with the selling rate declining by 10 cents to $128.34. The Canadian dollar buying rate fell $2.31 to $92.10, with dealers buying C$4,445,438 and selling C$5,022,483 at an average rate that eased 78 cents to end at $95.10. The average rate for buying the British Pound dipped $2.27 to $154.76 for the purchase of £3,651,060 while £1,884,689 was sold with a fall of 79 cents to end at $156.63.
At the end of trading on Wednesday, dealers sold €581,518 with the selling rate for the Euro, closing with a decline of 67 cents to $134.24, according to data from Bank of Jamaica. Dealers purchased €344,728 of the European common currency at $127.94 after gaining $1.82. The US dollar equivalent of other currencies traded, amounts to US$89,949 being bought and selling of US$25,989.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Wednesday, include a fall in the lowest selling rate of the US dollar by $16.88 to $103.12. A rise of $1.30 in the highest buying rate for the Canadian dollar to end at $97.50, while the highest selling rate rose $1.07 to $100.30. The highest buying rate for the British Pound gained $3.09 to $162.19, the highest selling rate climbed $1.08 to $166.32, while the highest buying rate for the Euro dived $1.50 to $132, the lowest buying rate declined by $1.49 to end at $107.07 and the lowest selling rate fell $7.86 to $114.14.