Dealers in the forex market who bought over US$24 million more than they sold last week sold US$5 million more than they bought on Tuesday in all currencies as the local currency selling rate for the US dollar increased for the sixth consecutive day.
The foreign exchange market closed on Tuesday, with dealers buying the equivalent of US$47,052,554 and selling US$42,436,572, in contrast to US$35,822,833 purchased and US$40,716,594 sold on Monday.
In US dollar trading, dealers bought US$44,115,520 compared to US$32,644,468 on Monday, as the buying rate for the US dollar rose by 24 cents to $124.72. A total of US$40,688,761 was sold versus US$39,134,277 on Monday with the selling rate falling 5 cents to $125.41. The Canadian dollar buying rate rose 71 cents to end at $93.17 with dealers buying C$1,154,316 and selling C$860,008, at an average rate that fell $1.87 to $94.87. The rate for buying the British Pound dropped 51 cents to $179.11 for the purchase of £1,352,910, while £494,893 was sold, with the rate falling $1.49 to $180.36.
At the end of trading, the selling rate for Euro, rose 10 cents to close at J$139.74 from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.56, for a fall of 43 cents from Monday’s rate. The US dollar equivalent of other currencies traded amounts to US$131,893 being bought, while US$385,512 was sold.
Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Tuesday, include, a rise of $1.70 in the lowest buying rate of the Canadian Dollar to $74.70 and a gain of $2.30 to $89.50 in the lowest selling rate. The lowest buying rate for the British Pound fell by $1 to $145.08 and a $2.08 fall in the highest selling rate, pushed it to $188.
US$ selling rate falls – Tuesday
Signs of strength for juniors – Tuesday
The junior market ended with bids for 14 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, Caribbean Cream closed with a gain of 8 cents at $4.78, after trading 6,200 shares, Caribbean Flavours traded 10,000 units to end at $8, Caribbean Producers traded 108,630 units with a gain of 5 cents, to end at $3.95. Consolidated Bakeries traded 1,838,962 units and gained 20 cents to end at a 52 weeks high of $2, Derrimon Trading ended with 74,00 shares changing hands, with a loss of 65 cents at $3.85, Iron Rock traded 1,048 shares with a rise of 20 cents to end at $3.40. Jamaican Teas traded 3,000 units to close with a loss of 5 cents at $3.85, KLE Group traded 10,000 shares and closed with a loss of 1 cent at $1.60. Lasco Distributors closed with 349,561 units trading at $7.50, Lasco Manufacturing traded 128,665 shares and rose 30 cents to close at $4.70, Medical Disposables gained 25 cents in trading 74,458 shares at $3.25and tTech ended with 15,988 units changing hands but lost 20 cents to close at $4.30.
More TTSE’s stocks fall – Tuesday
Trading on the Trinidad and Tobago Stock Exchange resumed on Tuesday after the Monday holiday break and resulted in slightly more stocks declining than advancing. The market closed with 10 active securities changing hands, with 4 stocks rising, 5 declining while 1 remained unchanged, as 366,280 shares valued at $3,266,700 changed hands. The market ended with 1 stock closing at 52 weeks’ high.
The Composite Index lost 0.05 points to close at 1,109.62, the All T&T Index fell 1.37 points to close at 1,761.23 and the Cross Listed Index gained 0.17 points to 60.90.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with bids higher than their last selling prices and 6 with offers that were lower.
Gains| Clico Investment Fund rose 4 cents in trading 7,965 shares, to close at $22.65, Firstcaribbean International Bank gained 1 cent in trading 715 shares at 52 weeks’ high of $6.57. Massy Holdings gained 1 cent in trading 41,299 shares valued at $1,988,876, to close at $48.16 and National Commercial Bank rose by 2 cents in trading 300,030 shares for a value of $726,072 and closed at $2.42.
Losses| Guardian Holdings ended with a loss of 14 cents while trading 5,200 shares at $12.85, National Enterprises fell 5 cents to close at $11.15 while trading 845 units, Republic Financial Holdings declined by 1 cent to close at $107.89 with 1,606 shares changing hands. Sagicor Financial Corporation closed with 50 shares changing hands with a fall of 1 cent at $7.14 and Trinidad and Tobago NGL fell 6 cents in trading 4,975 units to close at $20.94.
Firm Trades| Trinidad Cement traded 3,595 units at $3.50.
Grace trades at $115 on JSE – Tuesday
Grace Kennedy hit $115 with a rise of $4 in trading on the Jamaica Stock Exchange in the early morning session on Tuesday with 1,150 shares changing hands, while Pan Jamaican Investment Trust bid is at $27 to buy 526 units with the stock on offer at $30. Honey Bun that trades ex split today has not yet trade with orders to buy still in at $19 and below with the ex split price being $3.80 and the highest price it can trade ta being $4.94 today.
Lasco Distributors had the largest volume traded for the morning of 260,000 units at $7.47 followed by Cable & Wireless with 199,074 shares at $1.38 and Jamaica Money Market Brokers 7.50% preference share with 137,702 units at $2.10.
Trading resulted in activity in 25 securities, accounting for a volume of 939,280 units as 6 stocks gained and 11 declined. The average number of shares traded amounts to 37,571 units compared to an average of 67,133 units on Monday.
After 75 minutes of trading in the early morning session, on Tuesday, the all Jamaica Composite Index fell 331.36 points to 173,785.08, the JSE Market Index lost 296.29 points to 156,436.64, the JSE combined index drifted down by 94.44 points, to 167,121.93 and the junior market index rose 17.59 points to 2,145.73.
More US$ sold than bought – Monday
Dealers in the forex market who bought over US$24 million more than they sold last week sold US$5 million more than they bought on Monday in all currencies as the local currency selling rate for the US dollar increased for the sixth consecutive day.
The foreign exchange market closed on Monday, with dealers buying the equivalent of US$35,822,833 and selling US$40,716,594, in contrast to US$52,840,212 purchased and US$46,464,311 sold on Friday.
In US dollar trading, dealers bought US$32,644,468 compared to US$49,322,500 on Friday, as the buying rate for the US dollar declined by 46 cents to $124.48. A total of US$39,134,277 was sold versus US$43,765,413 on Friday with the selling rate rising 2 cents to $125.46. The Canadian dollar buying rate fell $1.52 to end at $92.46 with dealers buying C$1,221,873 and selling C$1,050,885, at an average rate that rose 29 cents to $96.74. The rate for buying the British Pound dropped 81 cents to $179.62 for the purchase of £1,480,634, while £460,528 was sold, with the rate falling $1.90 to $181.85.
At the end of trading, the selling rate for Euro, dropped 64 cents to close at J$139.64 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.99, for a fall of 68 cents from Friday’s rate. The US dollar equivalent of other currencies traded amounts to US$134,284 being bought, while US$104,463 was sold.
Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Monday, include, a fall of $2.27 in the lowest selling rate of the US dollar to $101.87, a decline of $1.12 in the highest buying rate of the Canadian Dollar to $97.28, a fall of $3.36 to $73 in the lowest buying rate, while the lowest selling rate dropped $3.80 to $87.20. The highest buying rate for the British Pound fell by $1.24 to $185.15 and a $3 fall in the lowest selling rate, pushed it to $172.