Trading ended on Monday with a 35 percent jump in the volume of stocks traded after the value surged 312 percent more than on Friday on the Jamaica Stock Exchange Main Market and resulted from trading in 52 securities compared with 53 on Friday, with prices of 20 stocks rising, 17 declining and 15 ending unchanged, with the market rising to close off the day after the market indices gained much more than it lost on Friday
A total of 7,174,227 shares were traded for $110,200,209 up from 5,322,135 units at $26,717,369 on Friday.
Trading averaged 137,966 shares at $2,119,235 which is above the 100,418 units at $504,101 on Friday and month to date, an average of 134,767 units at $1,175,554, compared to 134,482 units at $1,091,671 on the previous trading day and well below November with an average of 275,587 units at $2,488,949.
Wisynco Group led trading with 3.08 million shares for 42.9 percent of total volume, Transjamaican Highway was next with 2.27 million units for 31.7 percent of the day’s trade and Kingston Wharves 420,053 units for 5.9 percent market share.
The All Jamaican Composite Index gained 2,418.86 points to 348,454.60, the JSE Main Index rallied 1,868.21 points to 313,185.59 and the JSE Financial Index rose 0.46 points to end the day at 67.99.
The Main Market ended trading with an average PE Ratio of 12.9. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden climbed $1.65 to end at $30 after an exchange of 45,227 stock units, Caribbean Cement increased 30 cents to close at $53.30, with 407 shares changing hands, Caribbean Producers popped 82 cents and ended at $9.32 with an exchange of 8,031 stocks. GraceKennedy rallied $1 to $76.50 with 124,616 units clearing the market, Jamaica Broilers fell $1.12 to close at $33.88 as investors exchanged 3,531 shares, Jamaica Producers dropped 99 cents to $22.01 in trading 12,000 stock units. Kingston Wharves shed $1.50 in closing at $27 after a transfer of 420,053 units, Margaritaville rose 90 cents and ended at $17 with investors dealing in 785 stocks, 
Mayberry Group gained 55 cents to end at $8.85 in an exchange of 5,723 units. NCB Financial lost 50 cents to close at $65 with investors exchanging 47,185 stocks, Pan Jamaica jumped $6.28 to $49, with 63,010 shares crossing the exchange, Scotia Group skidded 50 cents to close at $35.50 with traders dealing in 259,776 stock units, following the stocks trading at a one year high of $37. Seprod sank $3.40 to $71.50 in switching ownership of 3,006 shares, Sygnus Credit Investments declined 50 cents and ended at $10.50 with investors swapping 14,266 stock units and Sygnus Real Estate Finance popped $1.30 to close at $10.30 after 558 stocks were traded.
In the preference segment, Eppley 7.50% preference share climbed 56 cents to $6.80 after an exchange of 186 stock units and JMMB Group 7.25% preference share dipped 35 cents in closing at $1.65 with investors trading 924 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading up on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks changing hands rising 475 percent valued 11 percent lower than on Friday, resulting in five securities being traded, similar to Friday and ended with three rising and two declining.
A total of 286,910 shares were traded, for US$7,613 compared to 49,892 units at US$8,545 on Friday.
Trading averaged 57,382 units at US$1,523, versus 9,978 shares at US$1,709 on Friday, with a month to date average of 31,647 shares at US$1,679 compared with 29,349 units at US$1,693 on the previous day, well down on November with an average of 249,102 units for US$14,204.
The US Denominated Equities Index fell 2.98 points to end the day at 216.35.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.3. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Margaritaville advanced 1.9 cents and ended at 12.9 US cents with a transfer of 606 stocks, Proven Investments popped 0.06 of a cent to close at 13.15 US cents with an exchange of 12,747 units, Sterling Investments sank 0.03 of one cent in closing at 1.55 US cents with 4 shares being traded. Sygnus Credit Investments gained 0.1 of a cent to close at 9 US cents as investors exchanged 22,691 stock units and Transjamaican Highway fell 0.01 of a cent to end at 1.67 US cents after 250,862 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Trinidad stock market
Trading ended on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded jumping 86 percent with the value up 82 percent more than on Friday, resulting in 17 securities being traded similar to trading on Friday and ended with seven stocks rising, six declining and four remaining unchanged.
Investors exchanged 274,928 shares for $1,760,054 versus 147,925 stock units at $967,923 on Friday.
An average of 16,172 units were traded at $103,533 compared to 8,701 shares at $56,937 on Friday, with trading month to date averaging 12,538 shares at $149,359 compared with 12,220 units at $153,374 on the previous trading day, marginally lower than the average for November of 19,241 shares at $227,402.
The Composite Index increased 7.28 points to lock up trading at 1,191.81, the All T&T Index advanced 13.08 points to finish at 1,796.95, the SME Index gained 0.90 points to settle at 72.85 and the Cross-Listed Index popped 0.15 points to close at 76.17.
Investor’s Choice bid-offer indicator shows five stocks ended bids higher than their last selling prices and four with lower offers.
At the close of the market, Agostini’s ended at $68.50 in an exchange of 471 units, Angostura Holdings gained $2.97 in closing at $19.99 with investors trading 737 stocks, Endeavour Holdings rose 25 cents to end at $13.50, with 1,377 shares crossing the market. 
First Citizens Group declined 30 cents and ended at $49 with a transfer of 1,625 stock units, FirstCaribbean International Bank remained at $7 with investors trading 24,025 shares, GraceKennedy rallied 5 cents to $4.10 after 18,206 stock units passed through the market. Guardian Holdings sank 59 cents to $17.41 with investors swapping 2,220 stocks, Massy Holdings dipped 4 cents to close at $4.36 and closed after an exchange of 26,402 units, National Enterprises increased 53 cents in closing at $4.08 in trading 173,011 stocks. National Flour Mills popped 1 cent to end at $1.95 after a transfer of 12,150 units, One Caribbean Media fell 30 cents in closing at $3.50 with traders dealing in 20 shares, 
Point Lisas advanced 25 cents to $3.50, with 9,300 stock units crossing the market. Prestige Holdings shed 10 cents to end at $9.15 after exchanging 50 shares, Republic Financial remained at $124 with investors transferring 3,115 stock units, Scotiabank dropped 20 cents to close at $69.80 in an exchange of 1,270 units. Trinidad & Tobago NGL ended at $10.32, with 504 stock units changing hands and Trinidad Cement climbed 9 cents and ended at $2.95 with an exchange of 445 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady Junior Market
Market activity ended with 15 stocks rising and 15 declining in trading on the Junior Market of the Jamaica Stock Exchange Monday and 12 closed unchanged after trading in 42 securities compared with 40 on Friday with the volume and value of stocks traded marginally lower than on Friday.
Investors traded 4,931,463 shares for $10,278,286 compared with 4,960,272 units at $11,287,117 on Friday.
Trading averaged 117,416 shares at $244,721 compared to 124,007 units at $282,178 on Friday with the month to date, averaging 161,052 stock units at $335,710 compared with 165,266 shares at $344,495 on the previous day. November closed with an average of 262,280 units at $587,545.
Dolla Financial led trading with 895,595 shares for 18.2 percent of total volume followed by KLE Group with 840,000 units for 17 percent of the day’s trade and iCreate with 674,354 units for 13.7 percent market share.
At the close, the Junior Market Index skidded 6.22 points to end the day at 3,689.47.
The Junior Market ended trading with an average PE Ratio of 13.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, AMG Packaging advanced 44 cents in closing at $2.74, with 6,077 stock units crossing the market, CAC 2000 sank 60 cents to $4 with a transfer of 2,105 shares, Cargo Handlers rose $1.77 to end at $13.08 after an exchange of 168 units. Derrimon Trading climbed 14 cents to close at $2 in switching ownership of 143 stocks, Dolphin Cove shed 45 cents and ended at $16.55 after a transfer of 35,558 shares, EduFocal lost 16 cents to close at $1.70, with 123,046 stock units changing hands. Elite Diagnostic fell 12 cents in closing at $1.63 in an exchange of 106,042 units, Everything Fresh skidded 12 cents to end at $1.31 with investors dealing in 150,000 stocks, Express Catering dipped 20 cents to $3.80, with 113,033 shares crossing the market. 
Fontana increased 8 cents to close at $10.47 in trading 97,108 stock units, GWest Corporation popped 12 cents to 99 cents and closed with an exchange of 797 units, Knutsford Express gained $1.42 to close at $12.78 with an exchange of 112 stocks. Lasco Financial declined 26 cents to end at $1.62 after trading 30,200 units, Lasco Manufacturing dropped 40 cents in closing at $4.23 with investors transferring 1,464 stocks, Limners and Bards fell 18 cents and ended at $1.50 in an exchange of 23,032 shares. Main Event rallied $1.30 to $14.30 with traders dealing in 984 stock units, Paramount Trading sank 19 cents and ended at $1.48 passed through the market 102,587 shares, Stationery and Office Supplies popped 8 cents to close at $1.68 with investors swapping 55,629 units and tTech increased 21 cents in closing at $2.21 after an exchange of 4,506 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs on the JSE on Monday
The Junior Market and the USD market slipped at the close of trading on the Jamaica Stock Exchange on Monday while the Main Market rose, with the volume and value of stocks changing hands rising from trading on Friday.
At the close of the market, Main Market stocks rallied with Pan Jamaica leading with a rise of $6.28, AS Bryden rose $1.65, Sygnus Real Estate rose $1.30, followed by GraceKennedy with a rise of $1. Junior Market stocks saw Cargo Handlers jumping $1.65, Knutsford Express up $1.42 and Main Events up $1.30.
Seprod fell $3.40 followed by Kingston Wharves with a fall of $1.50 and Jamaica Broilers $1.12 while Jamaica Producers chipped in with a fall of 99 cents.
At the close of trading, the JSE Combined Market Index popped 1,697.59 points to close at 326,030.47, the All Jamaican Composite Index rallied 2,418.86 points to end at 348,454.60, the JSE Main Index gained 1,868.21 points to close at 313,185.59. The Junior Market Index slipped 6.21 points to end at 3,689.47 and the JSE USD Market Index dipped 3.11 points to 216.22.
Investors traded 12,392,600 shares, in all three markets, up from 10,332,299 units on Friday. The value of stocks traded on the Junior and Main markets amounts to a mere $120.48 million up from $38 million on Friday. The JSE USD market closed after 286,910 shares were traded, for US$7,613 compared to 49,892 units at US$8,545 on Friday.
In the preference segment, no stocks traded with notable price changes.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 20.6 on 2022-23 earnings and 13.7 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Big price movements for ICTOP10
The Main and Junior Markets closed the week slightly lower, resulting in big gains and losses in the Junior Market while movements in the Main Market were more moderate than the Junior Market stocks and surprisingly there is only one new entrant into the top 10 listings, this week.
Scotia Group released full year results with EPS of $5.54 and announced the payments of a dividend of 40 cents per share, with the price hitting a new one year high on Friday. The dividend suggests a minimum payment of $1.60 per share over the next twelve months. Based on historical norms of 40-50 percent payout of profits it should be a higher payout. With the release of 2023 full year results, ICInsider.com switched over to 2024 earnings, with EPS at $7.50. Buying interest picked up during the week. The stock trades at an extremely low PE of 4.8 times projected 2024 earnings and still only 6.5 times based on earnings for 2023. AMG Packaging trades at 6.5 times 2024 earnings with only 58,816 shares on offer at the close on Friday and so is Jamaica Teas, with offers now generally above $2.53, with buyers mostly at $2.30, some selling came in for Access Financial this week, Caribbean Cement also has limited stocks on offer and so does Seprod.
Three Junior Market stocks gained 9 to 21 percent and three ended with 10 to 20 percent losses, while the Main Market had two stocks with worthwhile gains of 9 and 13 percent and three with sizable losses of 6 to 11 percent.
The Main Market ICTOP10 ended with, Key Insurance popping 13 percent to $2.49 and Scotia Group up 9 percent, while General Accident declined 11 percent to $4.50, Palace Amusement down 8 percent to $1.19 and 
Caribbean Producers lost 6 percent to close at $8.50.
The Junior Market ended, with Iron Rock Insurance jumping 21 percent to $2.50, followed by Lasco Distributors and Lasco Manufacturing rising 9 percent each to $3.93 and $4.63 respectively. AMG Packaging dropped 20 percent to $2.30, Caribbean Cream and Jamaica Teas fell 10 percent to $3.31 and $2.30 respectively.
Tropical Battery dropped out of the Junior Market ICTOP10 and is replaced by Elite Diagnostic. There were no changes in the IC Main Market TOP10
Indications of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 12.8. The Main Market ICTOP10 is projected to gain an average of 299 percent by May 2024, based on 2023 forecasted earnings and now provides better values than the Junior Market with the potential to gain 204 percent over the same time frame.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 108, with an average of 28 and 18 excluding the highest PE ratios and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
The PE of the Junior Market TOP10 sits at 6.8, over half of the market, with an average of 13.2. There are 13 stocks, or 27 percent of the market, with PEs from b>15 to 50, averaging 21, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Scotia Group selling dwarfed by buying
Scotia Group traded at a 52 weeks’ high on Friday, following the release of record profit results on Monday for the year to October, with the stock having a bit of selling in recent weeks. That seems to have abated with the major seller now appearing to be taken out.
At the close of the market on Friday, there were only 13 offers to sell stocks in the market and 48 bids to buy. The chart below shows the extent of the imbalance between buying and selling as reflected on the Jamaica Stock Exchange trading platform at the close on Friday.
There are only seven offers below $40 per share while bids are cautiously being made. There is interest in buying 247,300 shares as low as $25 and selling amounting to 156,962 shares up to $55.
Bids and offers are just indicative of demand and supply, as there could be more interest that could show up in the days ahead and change the picture. Barring new major developments the data suggest upward price movements ahead. This should be read in conjunction with the posting of why Scotia Group should be on your buy list.
Tourist arrivals continue to slow
Tourist arrivals to Jamaica are up solidly for the year to November with an increase, of around 20 percent, but the rate of growth has slowed considerably since April with an increase in stopover arrivals of 14 percent compared with 28 percent in March and 44 percent for the first quarter. By July the rate of growth dropped to 12 percent for the month as growth starts returning to more sustainable levels.
Recent data emanating out of Sangster International Airport in Montego Bay shows 403,600 passengers being handled in November, 7.3 percent more than the 376,100 handled in November 2022, with the pace of growth down from 10.3 percent in October and the Kingston Airport processing 123,000 passengers, 6.6 percent fewer than the 131,700 handled in November 2022. Passenger activity in Kingston declined for a third consecutive month with October down 8.9 percent compared with October 2022.
For the first eleven months of 2023, the Montego Bay Airport processed 20.4 percent more passengers, with 3,918,900 being handled in 2022 moving to 4,716,800 in 2023. Total passenger movements grew by 13.5 percent at the Norman Manley International Airport from 1,402,300 in 2022 to 1,592,000 in the first eleven months of 2023.
Why Scotia Group should be on your buy list
Scotia Group recently reported record profits for the year to October, surging 67 percent to $17.23 billion with earnings of $5.54 per share, from revenues that jumped 29 percent to $59.64 billion but based on the reaction of investors the results seem to hardly matter with the stock valued a mere 6.5 times historical earnings compared with a market average of 13, nevertheless, the price hit a yearly high of $36.69 this past Friday as selling has eased considerably, with a few open offers to sell.
The group declared a dividend payable in January of 40 cents for a second consecutive quarter putting it at $1.60 annualised, for a 4.6 percent yield based on the current price. Traditionally the group was committed to paying 40 to 50 percent of profits, this seems to have temporarily changed with the fallout from the Covid-19 pandemic but could return in the near future.
The October quarter saw profit popping a robust 49 percent to $4.4 billion from $2.98 billion in 2022 with revenues rising 24 percent to $15.79 billion from 12.8 billion.
The good news does not end there. ICinsider.com is forecasting earnings of $7.50 for the 2024 fiscal year, with the PE ratio at just 4.8 times earnings making it a stunning buy at the current price of $36, the stock closed at on Friday. The group has many of the qualities for an excellent investment, good management, quality products and services that are in demand, a growing business and increasing profitability and best of all the stock price is well below the market average, with the potential for a major rise in the near term.
While the 2023 performance looks dramatic compared with the pre-Covid period it is more one of recovery as opposed to rapid growth as the increase over 2019 is just 31 percent, representing a 6 percent increase per annum as loans grew 31 percent as well since the end of 2019.
Highlights of the good performance came from interest income, with the quarter jumping 22 percent to $11.6 billion from $9.5 billion in 2022 and by 31 percent for the full year to $40.8 billion with loans disbursed growing a robust 15 percent to $269 billion from $234.7 billion in 2022, after loan loss provisions. Non-accrual loans stood at $4.5 billion compared to $4 billion at the end of October 2022 and represent 1.6 percent of gross loans compared to October 2022 at 1.7 percent.
Also contributing to the growth in interest income was an increase in funds held in cash resources and investments of $343 billion up from $316 billion in 2022.
Insurance revenues fell 5 percent from $1 billion to $961 million in the quarter and surged 49 percent from $1.87 billion to $2.79 billion for the year.
Audrey Tugwell Henry Scotia group’s CEO
Deposits grew 12.7 percent from $399 billion to $449 billion, but the cost of funds grew 138 percent from $580 million in 2022 to $1.38 billion and 207 percent from $152 million in the final quarter to $466 million as interest rates rose sharply following Bank of Jamaica’s increase in the overnight rate in during late 2021 into 2022 and the maintenance of tight liquidity in the system by the country’s central bank.
Amounts set aside for expected credit losses fell 16 percent to $741 million in the quarter from the 2022 quarter’s $880 million and from $3.06 billion for the year in 2022 to $2.4 billion in 2023.
Other Income delivered $3.23 billion in the final quarter of the year versus $2.26 billion in 2022 and for the 2023 year ending October an increase of 22 percent to $16 billion from $13 billion in 2022, with foreign exchange trading and fees and commission dominating.
Operating expenses rose 6 percent in the final quarter to $6.8 billion from $6.39 billion in 2022 and for the twelve months to $27.6 billion up 11.7 percent from $24.7 billion.
The group’s Shareholders’ equity ended the fiscal year at $126.5 billion, increasing by $20 billion, compared to the previous fiscal year, due primarily to re-measurement of defined benefit pension plan assets, 
lower fair value losses on the investment portfolio, recognition of the insurance finance reserve on the adoption of IFRS 17 and profit generated for the year, partially offset by dividends paid. Total assets grew by $70 billion to $665 billion at October 2023.
ICInsider.com rates the stock a strong buy, with the potential to deliver attractive dividend yields going forward and a huge increase in the stock price in the months ahead. The future appears bright with continued growth in the local economy that sets the stage for more lending. 2024 could well deliver some negatives as the Bank of Jamaica holds interest rates at excessively high levels and ushers in a recession. Additionally, interest rates could start to decline and negatively affect net interest income. Regardless the stock is priced so low currently that most bad news to come if any is more than taken into consideration by the current pricing.
Rising stocks outpace losers on JSE Main Market
The Jamaica Stock Exchange Main Market ended on Friday, with rising stocks outdoing those declining stocks by more than three to two and led to moderate changes in the market indices after the volume of stocks traded rose 90 percent over Thursday and the value dipped just 7 percent lower, after trading in 53 securities compared with 52 on Thursday.
Trading ended with prices of 22 stocks rising, including Scotia Group that traded at a 52 weeks’ high of $26.69 following release of record profits on Monday. Prices of 15 stocks declined and 16 closed unchanged.
A total of 5,322,135 shares were traded for $26,717,369 compared to 2,797,752 units at $28,650,079 on Thursday.
Trading averaged 100,418 shares at $504,101 in comparison to 53,803 units at $550,963 on Thursday and month to date, an average of 134,482 units at $1,091,671 compared to 137,876 stock units at $1,150,207 on the previous day and running below November, with an average of 275,587 units at $2,488,949.
Transjamaican Highway led trading with 1.20 million shares for 22.6 percent of total volume followed by Wigton Windfarm with 1.10 million units for 20.7 percent of the day’s trade and QWI Investments with 939,280 units for 17.6 percent market share.
The All Jamaican Composite Index shed 451.88 points to lock up trading at 346,035.74, the JSE Main Index skidded 392.04 points to 311,317.38 and the JSE Financial Index slipped 0.23 points to 67.53.
The Main Market ended trading with an average PE Ratio of 12.9. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, AS Bryden shed 65 cents to end at $28.35 while exchanging 283 stock units, Caribbean Producers declined 55 cents to $8.50, with 202,378 shares crossing the market, Eppley gained $4 and ended at $39 as investors exchanged 5,429 units. Eppley Caribbean Property Fund popped $3.80 in closing at $39 after 13,016 stocks were traded, First Rock Real Estate rallied 29 cents to close at $7.50, with 4,696 shares changing hands, GraceKennedy increased $1 to $75.50 with investors swapping 40,616 units. Guardian Holdings climbed $2 and ended at $402, with 17 stocks crossing the market, Kingston Properties rose 40 cents to close at $7.40 after trading of 1,979 stock units, NCB Financial lost $1.47 to end at $65.50 with investors dealing in 11,542 shares. 
Pan Jamaica sank $6.73 in closing at $42.72 after an exchange of 9,445 units, Proven Investments fell 90 cents to $22.10, as 3,677 stocks passed through the market, Sagicor Group advanced 50 cents in closing at $40.50 with an exchange of 30,535 stock units. Scotia Group popped $1.50 and ended at a 52 weeks’ high of $36, with 211,460 shares clearing the market up to a high of $36.69, Supreme Ventures increased 94 cents to close at $25.50 with traders dealing in 11,951 units and Sygnus Credit Investments climbed 49 cents to end at $11, with 2,229 stocks crossing the exchange.
In the preference segment, Eppley 7.50% preference share skidded 54 cents in closing at $6.24 with a transfer of 3,251 stock units and Jamaica Public Service 7% dipped $4.50 to $40 after an exchange of 452 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
