The main market of the Jamaica Stock Exchange that retreated sharply on Thursday, recovered the loss and went on the record a new high, with the All Jamaica Composite Index surging 3,719.22 points to close at an all-time high of 189,308.34, bringing the year to date gains to 13.1 percent.
The JSE Market Index jumping 3,325.66 points to finish at a record 170,317.11 and the JSE combined index climbed sharply by 2,931.21 points up to end at new high of 183,141.71 pushing the gains for the year to date to 15.7 percent.
At the close 3,671,278 units valued at $37,632,036 changed hands, compared to 3,333,891 units valued at $23,300,182 changing hands on Thursday. The junior market accounted for 1,625,906 units trading valued at $9,305,449 of the stocks traded.
The average trade for the day in the main market ended at 78,668 and month to date 128,982 units. On Thursday, an average of 330,400 units traded. The average for the October was 220,811 units.
The market closed with 40 securities trading as the prices of 15 gained while 8 declined in the overall market, including 7 stocks rising and 2 falling, in the junior market. A number of attempts to trade Jamaica Stock Exchange were blocked, with the bids posted for most of the day, based on the pre-split price and not on the new number of shares emanating from the 5 to 1 split that became effective on Friday.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 17 stocks with bids higher than their last selling prices and 5 with lower offers.
In market activity, Barita Investments traded 11,000 units and declined 5 cents to close at $4.35, Berger Paints traded 5,000 shares to end at $6.55 after rising 50 cents, to close at a new 52 weeks’ high, Cable & Wireless closed at 85 cents with 765,410 units trading. Caribbean Cement jumped $1.46 with just 200 units changing hands to close at $30.46, Carreras traded 22,791 shares to end at $65. Grace Kennedy lost 5 cents in trading 12,984 units at $41.45, JMMB Group traded 16,889 shares and lost 20 cents, to end at $14, Kingston Wharves traded 1,735 shares and closed at $17.19, Mayberry Investments rose 35 cents and ended with 2,734 shares trading at the close at $4. National Commercial Bank rose 26 cents in trading 12,030 shares to close at a new 52 weeks’ high of $45.25, Pan Jamaican Investment lost 20 cents and closed at $22.80 after trading 298,100 shares, Sagicor Group had 1,130 shares changing hands and rose 68 cents to close at $23.18. Scotia Group climbed $1.35 in trading 496,267 shares to close at $32.40, Seprod traded 2,000 shares to end at $24.15, Proven Investments traded 34,300 units at 19.90 US cents and Sterling Investments rose $1.45 cent and traded just 300 units to close at a 52 weeks’ high of $15.50.
JSE jumps sharply in early trading
Gains in the prices of Scotia Group and National Commercial Bank that traded at a new high help in pushing the main market indices much higher in early trading on Friday on the Jamaica Stock Exchange.
A number of new highs were created in the morning session with Berger Paints trading 5,000 at a new high of $6.55 and Paramount Trading had a small volume changing hands at a new all-time high of $29 after rising $2 and Sterling Investments traded at a new high of $15.50. CAC 2000 fell to an all-time low with 1,000 shares trading down to $4.50.
The all Jamaica Composite Index jumped 2,708.08 points to 188,297.20, the Jamaica Stock Exchange Market Index surged 2,421.51 points to 169,412.96, the Jamaica Stock Exchange combined index climbed 2,272.32 points to close at 182,482.82 and the junior market index inched up 2.59 points to 2,469.69.
Jamaica Stock Exchange stock was adjusted the 5 for 1 stock split at the commencement of trading this morning to take into effect that was approved at an Extraordinary General Meeting held on October 25, but attempts to trade have been blocked as the bids remains at the old price.
At 10:45 am, a total of 27 securities traded, resulting in a volume of 1,938,366 shares changing hands carrying a value of $18,934,325, compared to 633,945 shares changing hands carrying a value of $6,888,082, on Thursday.
The average number of shares traded amounts to 71,791 units compared to 28,816 on Thursday. Market activity resulted in 6 stocks falling while the prices of 10 securities rose.
Stocks with good volumes in the main market are Cable & Wireless with 765,410 at 85 cents, Ciboney Group traded 241,019 units at 18 cents and Jamaica Money Market Brokers 7.25% preference share traded 100,100 units at $2.40, Caribbean Producers with 137,000 units at $3.50, Lasco Manufacturing with 120,958 shares trading at $4.80.
JSE stock split effective today
Jamaica Stock Exchange stock price will adjust at the commencement of trading this morning to take into effect the 5 for 1 stock split that was approved at an Extraordinary General Meeting held on October 25.
Record date for the stock split is November 8 but the ex-stock split date takes effect on November 4. At the close of trading on Thursday, the price the stock traded at was $27.90 and will result in an opening price of $5.58.
The stock split will result in an additional 561,000,000 ordinary shares will be listed, increasing the issued shares from 140,250,000 to 701,250,000.
JSE reported of profit of $32 million for the June quarter versus $15 million in 2015 and $158 million compared to $102 million for the six months to June 2015. The improvement in net profit flowed from a 52 percent rise in revenues to $188 million for the June 2016 quarter compared with $124 million in 2015 and $525 million for the half year to June for a rise of 37 percent versus $382 million in 2015. Earnings per share for the half year ended at $1.12 versus 73 cents in 2015. The JSE had a big month of trading in August with some special trades that took place thus swelling the volumes and value to $6.6 billion for July to August compared to $6.5 million for the June quarter.
JMMB 20% higher in Trinidad
The premium placed on the Jamaican stocks, ranged between 11 per cent for Scotia Investments to a high of 20 percent for JMMB Group.
Trading activity resulted in 15 securities changing hands, up from the 14 traded on Wednesday with 4 securities advancing, 3 falling, while 8 traded firm while 2 stocks closing at 52 week’s highs and 1 at a low.
The market ended with 219,147 shares changing hands with a value of $2,777,660 in contrast to Wednesday’s volume of 171,910 shares with value of $2,294,211.
The market closed with the Composite Index rising 1.87 points to close at 1,178.77. The All T & T Index gained 1.31 points to close at 1,809.30 points, down 7.14 percent for the year to date, while the Cross Listed Index advanced 0.33 points to close at 73.19 points and is up 47.83 percent for the year to date.
IC bid-offer Indicator | The investor’s Choice bid-offer indicator ended with 3 stocks with bids higher than their last selling prices and 6 with lower offers
Gains| Angostura Holdings gained 50 cents to end with 3,000 shares, to close at a 52 week’s high of $15.50, JMMB Group gained 4 cents and ended with 67,530 shares changing hands to close at a 52 weeks’ high of 90 cents, or J$17, the stock traded in Jamaica at $14.20 on Thursday. National Commercial Bank gained 2 cents to end with 10,000 shares, to close at $2.68 or J$51 compared to $44.99 the last traded price in Jamaica and Scotia Investments gained 1 cent to end with 2,000 shares to close at $1.81, (J$34.40).
< Strong> Losses| strong> Guardian Media lost 75 cents to close with 500 shares at a 52 week’s low of $19, National Flour Mills lost 6 cents to end with 7,550 shares, to close at $2.58, Scotiabank Trinidad & Tobago lost 1 cent to end with 330 shares at $58.74.
Firm Trades | Agostini’s closed with 43 shares changing hands at $17.40, Clico Investment Fund ended with 107,800 shares changed hands at $22.60, First Caribbean International Bank traded 1,394 shares to close at $8.10, Grace Kennedy closed with 7,000 shares at $2.55 or the Jamaica equivalent of J$48.50 versus $41.50 the stock last traded in Jamaica. Massy Holdings ended with 20 shares trading at $51, One Caribbean Media ended with 20 shares changing hands to close at $20, Sagicor Financial Corporation ended with 9,551 shares to close at $7.15 and Trinidad & Tobago NGL ended with 2,400 shares to close at $23.
Trading activity drops on Friday
Trading on Trinidad and Tobago Stock Exchange closed on Friday with less activity than on Thursday, as 10 securities changed hands, down from the 15 traded on Thursday. The market closed with 134,140 shares changing hands valued at $475,187 compared to Thursday’s volume of 219,147 shares valued at $2,777,660.
At the end of trading just 1 security advanced, 4 declined, while 5 traded firm. The market closed with the Composite Index declining 0.77 points to end at 1,178.00 points. The All T & T Index lost 1.73 points to close at 1,807.57 points, down 7.23 percent for the year to date while the Cross Listed Index advanced 0.03 points to close at 73.22 points with a gain of 47.89 percent year to date.
IC bid-offer Indicator | The Investor’s Choice bid-offer indicator ended with 4 stocks with bids higher than their last selling prices and 6 with lower offers.
Gains| Grace Kennedy gained 1 cent to end with 16,997 shares and closed at $2.56.
< Strong> Losses| strong> National Flour Mills lost 2 cents to close with 387 shares to end with $2.56, Republic Financial Holdings lost 20 cents to end with 10 shares trading and closed at $108.79. Trinidad & Tobago NGL lost 1 cent to end with 10,658 shares trading at $22.99 and Trinidad Cement lost 5 cents with 3,800 shares changing hands to end at $3.40.
Firm Trades | First Citizens Bank traded 1,195 shares to close at $33, JMMB Group with 100,363 shares to close at 90 cents, Massy Holdings with 210 shares changing hands closed at $51, Scotiabank traded 510 shares to close at $58.74 and West Indian Tobacco traded 10 shares to close $127.
JSE main market dives in early trading
Fall in the prices of $1 for Sagicor Group and $1.91 for Scotia Group with just 200 shares trading led to a sharp drop in the main market indices in early trading on Thursday on the Jamaica Stock Exchange. The junior market moved within just 8 points from a record close.
The all Jamaica Composite Index dropped 2,454.83 points to 186,020.23, the Jamaica Stock Exchange Market Index dived 2,195.05 points to 167,376.95, the Jamaica Stock Exchange combined index lost 1,921.42 points to close at 180,600.30 and the junior market index inched up 11.12 points to 2,470.24.
At 10:45 am, a total of 22 securities traded, resulting in a volume of 633,945 shares changing hands carrying a value of $6,888,082, compared to 337,469 shares changing hands carrying a value of $9,036,840, on Wednesday.
The average number of shares traded amounts to 28,816 units compared to 12,052 on Wednesday. Market activity resulted in 9 stocks falling while the prices of 8 securities rose.
Trading in the junior market has been very low keyed with the exception of Lasco Financial Services with 204,000 units down to $3.07. Stocks with good volumes in the main market are Cable & Wireless with 152,000 at 85 cents, Pan Jamaican Investment Trust 165,986 at $23, Sagicor Group with 41,789 shares at $22.50.
First Citizens climbs 75 cents
Trading activity resulted in the volume of 171,918 shares changing hands with a value of $2,294,211 in contrast to Tuesday’s volume of 174,997 shares valued at $1,162,709.
The market closed with the Composite Index rising 1.75 points to close at 1,176.90. The All T & T Index gained 3.69 points to close at 1,807.99 points, while the Cross Listed Index declined by 0.03 points to close at 72.86 points.
IC bid-offer Indicator| The investor’s Choice bid-offer indicator ended with 4 stocks with bids higher than their last selling prices and 8 with lower offers
Gains| Agostini’s gained 10 cents to end with 1,677 shares, changing hands at $17.40, First Citizens Bank jumped 75 cents with 5,277 shares changing hands to close at $33, National Commercial Bank gained 1 cent to end with 50,000 shares closing at $2.66. National Enterprises gained 10 cents to end with 1,200 shares at $10.50, Praetorian Property Mutual Fund ended with 4,000 shares changing hands to close at $2.70 after rising 5 cents and Sagicor Financial Corporation gained 10 cents to end with 10,000 units changing hands, to close at $7.15.
< Strong> Losses| strong> Ansa Mcal lost 18 cents with 40 shares trading to close at $62.50, JMMB Group lost 4 cents to end with 56,000 shares changing hands at 86 cents and Massy Holdings lost 42 cents to end with 29,336 shares with a value of $1,496,136 at $51.
Firm Trades| Trading firm are, Clico Investments traded 10,000 units at $22.60, First Caribbean International Bank with 606 shares to close at $8.10, Guardian Holdings closed with 570 shares to close at $13, Trinidad & Tobago NGL, ended with 2,511 shares to close at $23 and West Indian Tobacco traded 41 shares to close at $127.