Trading activity on the Trinidad and Tobago stock market closed Tuesday with marginal gains in the market indices. The volume traded remained subdued with just over 200,000 units changing hands. At the close 12 securities changed hands, 5 of which rose, 7 remained unchanged with no losing stocks at the end of the day.
Market activity ended with 208,021 shares valued at $2,665,520 changing hands, down from the $3,417,455 traded on Monday.
The Composite Index gained 1.10 points to close at 1,157.64, the All T&T Index rose 0.51 points to close at 1,819.29 and the Cross Listed Index ended 0.23 point higher at 66.04.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with bids higher than their last selling prices and 4 with offers that were lower.
Gains| Agostini’s gained 25 cent in trading 4,000 shares, to end at $17.30, Angostura Holdings rose 2 cents and ended with 18,685 shares valued at $587,776 changing hands to close at $14.02. Firstcaribbean International Bank ended trading with 13,165 shares and closed with a rise of 5 cents at $6.95, Guardian Holdings gained 1 cent to end at $13.01 with 9,800 shares changing hands and Sagicor Financial Corporation gained 1 cent to close with 2,961 shares changing hands at $6.52.
Firm Trades| Clico Investment Fund closed with 28,732 shares valued at $650,997 changing hands, to end 15 cents higher at $22.66, First Citizens traded 4,521 units at $35, Republic Financial Holdings ended with 5,310 shares changing hands at $110, Scotiabank closed with 610 shares changing hands to end at $57.53. Trinidad and Tobago NGL closed at $23.50 with 12,056 units changing hands, Trinidad Cement closed at $3.05 with 107,740 shares valued at $328,607 changing hands and West Indian Tobacco with 441 shares changing hands closed at $126.32.
5 TTSE’s stocks climb none fell – Tuesday
$29.50 new high for JSE early Tuesday
Jamaica Stock Exchange traded 1,400 at a new high of $29.50 up $2.10, following the high it reached in early trading Monday of $28, Jetcon Corporation traded 399,800 units at $3.20, after rising 30 cents, tTech jumped 50 cents while it traded 503,333 shares at $5 and Cable & Wireless had 524,622 units trading at $1. Gains in prices moved the market indices much higher than at the close on Monday.
At 10:45 am 29 securities traded, including C2W Music that traded at a new all-time low of 17 cents as investors continue to bail out of the stock, following a history of continued poor results and depletion of capital. Trading resulted in a volume of 1,835,382 shares changing hands. The average number of shares traded amounts to 63,289 units compared to 36,243 units on Monday. The number of stocks falling amounts to 5 while the prices of 11 securities rose as the market continues to consolidate with no new major developments or news to move prices in one direction or the other.
The all Jamaica Composite Index jumped 1,250.51 points to 178,936.00 the Jamaica Stock Exchange Market Index climbed 1,118.18 points to 161,042.37, the Jamaica Stock Exchange combined index gained 1,415.46 points to close at 172,279.24 and the junior market index up 36.86 points to 2,232.00.
Surplus FX continues to rise
Trading in Jamaica’s foreign exchange market on Monday saw reduced flows coming in and out of the market only US$23 million entering and US$19.5 million leaving, as inflows again exceeded outflows as was the case for July and August.
In Monday’s trading, dealers bought US$23,079,436 and sold US$19,531,349 compared to US$42,537,612 purchased and US$33,911,288 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$19,609,026 compared to US$39,102,100 on Friday. The buying rate for the US dollar dropped 77 cents to close at $126.26. A total of US$18,292,586 was sold versus US$31,532,699 on Friday, with the selling rate rising 6 cents to end at $127.67. The Canadian dollar buying rate rose by 27 cents to $94.64, with dealers buying C$1,398,679 and selling C$727,965 at an average rate that gained 49 cents to $98.03. The average rate for buying the British Pound dropped $1.41 to $165.21 for the purchase of £1,674,712 while £359,434 was sold with the rate that falling 75 cents to end at $168.38.
At the end of trading, the selling rate for the Euro, rose 64 cents to close at J$142.80 from Friday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$141.12 for a jump of $5.13 from the rate on Friday. The US dollar equivalent of other currencies traded amounts to US$230,776 being bought, while US$205,828, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a rise of $1.20 in the highest buying rate for the Canadian Dollar to $98.70, a fall in the lowest selling rate of $1 to $93. Trading in the British Pound resulted in a $3.50 fall in the highest buying rate to $170.40, a rise of $2.18 in the highest selling rate to close of $177.66 and a fall in the lowest selling rate of 50 cents to $162.
JSE stocks rise – Monday
Price movement on the Jamaica Stock Exchange mostly rose on Monday pulling the market indices along with it. Trading levels fell sharply with just 2,234,793 units valued at $29,276,443 well off from the 7,432,213 units valued at $206,556,569 changing hands on Friday’s. The junior market accounted for 1,236,624 units valued at $8,459,914 on Monday.
At the close of trading, the JSE Market Index rose 127.23 points to end at 159,924.19. The all Jamaica Composite Index gained by 142.29 points to close at 177,685.49 and the JSE combined index climbed 305.41 points, to end at 170,863.78.
At the close of the market prices of 15 securities gained out of a total of 36 that traded, with 9 declining in the overall market, including 8 stocks rising and 1 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 10 stocks with bids higher than their last selling prices and 7 with lower offers, suggesting continued fluidity in price movements ahead.
In market activity, Cable & Wireless traded 179,535 shares and closed 3 cents down to $1, Caribbean Cement traded 1,500 shares but fell back 99 cents to close at $25.50, Carreras traded 1,593 shares and jumped by $1.99 to close at $66.50. Grace Kennedy dropped 60 cents to end at $43, with 17,684 shares changing hands. Jamaica Broilers had 40,850 shares changing hands, to end with a fall of 38 cents at $14.52. Jamaica Producers ended at $8.40 with 19,850 units trading, Jamaica Stock Exchange closed with 87,620 units changing hands to close at $27.40, after trading at new all-time high during the morning session at $28. Investors have been reacting positively to the announcement of a meeting later in September to consider a stock split and driving the JSE stock up from $21.50 before the announcement. JMMB Group fell 10 cents in trading 2,896 units at $9.90.
Kingston Wharves traded 66,886 shares, to close at $17.50, Margaritaville Turks traded 348,738 shares to close at 21 US cents, after trading earlier at an intraday high of 23.95 US cents, Mayberry Investments ended with 28,812 shares trading, to close with a gain of 2 cents at $3.30.
National Commercial Bank had 14,983 units changing hands and gained 50 cents to close at $40.50, Pan Jamaican Investments dipped 50 cents and closed at $24, after trading 6,975 shares, Sagicor Group rose 39 cents with 8,426 shares changing hands at $22.40, Scotia Group dropped $1.69 to close at $29.70 with 9,201 shares changing hands. Scotia Investments had 10,826 units changing hands at $26, Seprod climbed $1, in trading 88,000 units to close at $20.50, Sterling Investments closed at a new high of $14.15 while trading 4,000 shares, with a rise of $1.15, Supreme Ventures ended with 4,000 units changing hands at $4.81 and Proven Investments gained 1 US cent, to close at 19.90 US cents.
3 TTSE’s stocks rise 2 down – Monday
Market activity ended with 197,318 shares valued at $3,417,455 changing hands, up from the $2,244,588 traded on Friday.
The Composite Index fell 1.40 points to close at 1,156.54, the All T&T Index declined 2.84 points to close at 1,818.78 and the Cross Listed Index ended 0.01 point higher at 65.81.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with bids higher than their last selling prices and 5 with offers that were lower.
Gains| Clico Investment Fund closed with 20,430 shares valued at $462,879 changing hands, to end 15 cents higher at $22.66, Sagicor Financial Corporation gained 1 cent to close with 5,065 shares changing hands at $6.51 and Trinidad Cement rose 1 cent and closed at $3.05 with 5,600 shares changing hands.
Losses| Guardian Holdings dropped 53 cents to end at $13 with 51,000 shares for a value of $663,010 changing hands and Massy Holdings closed with 22,607 shares, valued at $1,243,390 changing hands with a fall of 5 cents to $55.
Firm Trades| Angostura Holdings ended with 41,984 shares valued at $587,776 changing hands to close at $14, First Citizens traded 845 units at $35, Grace Kennedy contributed 15,666 shares to close at $2.56, JMMB Group closed with 29,540 shares changing hands at 62 cents, National Enterprises closed with just 1,000 shares changing hands at $10.49. Republic Financial Holdings ended with 237 shares changing hands at $110, Scotiabank closed with 476 shares changing hands to end at $57.53, Trinidad and Tobago NGL closed at $23.50 with 1,010 units changing hands and West Indian Tobacco with 1,858 shares changing hands closed at $126.32.
8 junior stocks rise 1 fall – Monday
At the end of trading only 8 stocks rose up from 7 on Friday, while only 1 declined down from 3 on Friday out of 13 securities that traded. The market closed with 1,236,624 units trading, 11 percent less than on Friday, as the valued traded is 31 percent more than on Friday, with $8,459,914 changing hands on Monday. Trading ended with 5 securities closing with bids higher than their last selling prices and 3 ending with lower offers.
At the close, Access Financial end trading with 1,552 units at $17.50, AMG Packaging closed with a gain of 85 cents to end at $14.55, with 17,100 units changing hands, Caribbean Cream climbed 75 cents to close with 683,250 shares changing hands at $8. Caribbean Flavours traded 22,558 units to end at $7.76 with a rise of 56 cents, Caribbean Producers had just 170 units changing hands, to close at $3, Consolidated Bakeries traded 2,800 shares and gained 15 cents to close at $2.35. C2W Music traded 100,000 units and was down 4 cents to a new low of 20 cents, General Accident traded 18,500 units at $2.09 after rising 4 cents, Jamaican Teas ended with 1,495 shares trading with a gain of 43 cents to end at $3.63. Lasco Distributors ended with 370,871 shares changing hands at up to $6.70, after trading earlier in the day at $6.50, Lasco Financial ended with 7,000 shares changing hands at $3.53, for a rise of 3 cents. Lasco Manufacturing rose 44 cents and closed at $4.85 with 9,800 shares trading and Medical Disposables traded 1,528 shares. At $3.55.
New high for Margaritaville in early session – Monday
Margaritaville Turks traded 339,428 at a new high of 23.95 US cents and gained 2.95 cents in the process In early morning trading on the Jamaica Stock Exchange, at 10:45 Am, there were no stock being offered for sale. Trading activity generally has been light in early trading with most prices inching up.
Demand came in for Seprod as the price climbed $1.50 with 88,000 shares trading at $20.50 and Scotia Group dropped $1.39 to $30. In the junior market AMG Packaging rose 85 cents with 17,100 units changing hands up to $14.55 while Lasco Distributors fell 20 cents with 166,700 shares trading at $6.50. C2W Music traded down 4 cents to a new low of 20 cents with 100,000 shares.
At 10:45 am 27 securities traded, resulting in a volume of 1,014,803 shares changing hands. The average number of shares traded amounts to 36,243 units compared to 59,281 units on Friday. The number of stocks falling so far amounts to 6 while the prices of 12 securities rose as the market continues to consolidate with no new major developments or news to move prices in one direction or the other.
The all Jamaica Composite Index rose 223.47 points to 177,766.67 the Jamaica Stock Exchange Market Index climbed 199.82 points to 159,996.78, the Jamaica Stock Exchange combined index gained 317.79 points to close at 170,876.16 and the junior market index up 12.90 points to 2,189.78.