JSE majors hit new high again
National Commercial Bank (NCB) moved up to a new record high of $63.20 in early trading but pulled back to $61.10 and Kingston Wharves climbed back by $1 to $34 to help push the main market to a new record in the morning session on the Jamaica Stock Exchange on Tuesday.
National Commercial Bank traded 173,149 in its record run fueled by strong profit gains for the December quarter. JMMB Group moved to new high of $17 with 118,404 share, Jamaica Producers traded 149,756 shares at a record $15 and PanJam Investment traded 89,558 units at a new high of $31.
All major markets indices hit new records during the morning session but with moderate trading taking place. The all Jamaica Composite Index jumped 1,379.90 points to 231,432.96 the Jamaica Stock Exchange Market Index gained 1,233.88 points to 211,316.76, the Jamaica Stock Exchange combined index rose 978.50 points to 224,896.06 and the junior market index lost 16.12 points to 2,815.52.
Securities changing hands, amount to 29 at 10:45 am compared to 27 trading on Monday. A total of 11 securities advanced and 12 declined, resulting in a volume of 1,030,585 shares changing hands, carrying a value of $23,500,885, versus 880,842 shares changing hands, carrying a value of $12,045,282, the average trade for the early session amounted to 35,537 units, compared to 29,957 shares previously.
Jamaican dollar gains value
Up to the end of foreign exchange trading on Monday, Jamaica enjoyed a surplus of US$157 million for January. On Monday the central bank reported net inflows US$3.9 million with the selling rates for the main currencies for the Jamaican dollar gaining but for the euro.
At the close of the market, dealers bought the equivalent of US$39,284,459 of all currencies and sold just US$35,398,981, compared to US$50,312,663 purchased and US$32,969,840 sold on Friday.
In US dollar trading, dealers bought US$35,900,623 compared to US$47,964,301 on Friday. The buying rate for the US dollar fell 33 cents to close at $127.52. A total of US$33,452,927 was sold versus US$32,074,678 on Friday, with the selling rate falling by a much smaller level than for purchases with a fall of 7 cents to $128.35. The Canadian dollar buying rate fell 87 cents to $93.98, with dealers buying C$1,471,931 and selling C$964,733 at an average rate that lost 15 cents to end at $97.75. The average rate for buying the British Pound fell 31 cents to $158.02 for the purchase of £1,694,767 while £852,079 was sold with a decline of 60 cents, to end at $159.90.
At the end of trading on Monday, dealers sold €124,122, with the selling rate for the Euro, closing with a gain of 6 cents to $136.91, according to data from Bank of Jamaica. Dealers purchased €173,210 of the European common currency at $136.85 after rising $2.47. The US dollar equivalent of other currencies traded, amounts to US$21,471 being bought and selling of US$17,304.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Monday, include a drop in the lowest selling rate of the US dollar by $1.35 to $121.65. The highest buying rate for the British Pound fell $2.62 to $161.20 while the lowest selling rate rose $3 to $155. The highest selling rate for the Euro rose $6.70 to $146.30 and the lowest selling rate rose $2 to $132.
Juniors inching forward to new highs
The market closed with 17 stocks with bids higher than their last sale and 2 with lower offers than the last sale, signalling a continuation of gains ahead.
The market ended with very low volume of stocks changing hands, ending at 426,481 units valued at $2,702,243 passing through the market, compared to 204,282 units valued at $1,106,948, on Friday.
An average of 26,655 units with an average value of $168,890 traded, compared to 11,349 units with an average value of $61,497 on the previous trading day. The average for the month to date is 169,586 units with an average value of $900,610 versus 177,108 units with an average value of $939,121 for the preceding trading day. The average for December, ended at 131,147 units, with an average value of $672,488.
At the close of trading, AMG Packaging gained 10 cents to close at $20.10 with 145 units changing hands, Blue Power closed with 100 units changing hands at $40.40, Cargo Handlers end at $20.50, after 25,100 shares were traded. Caribbean Cream exchanged 8,167 shares and rose 6 cents, to close at $7.36, Caribbean Flavours put through 67,011 units and gained $1, to end at $9.50, Consolidated Bakeries rose just 1 cent in trading 11,900 shares to close at new closing high of $3.01. General Accident fell 10 cents at the close of trading, with 4,495 shares at $3, Honey Bun climbed 60 cents and closed with 75,936 shares changing hands at $6.90, Jamaican Teas traded 300 shares to close at a 52 weeks’ high of $9.50 after rising by 90 cents. Jetcon Corporation closed trading with 75,936 shares, to end with a gain of 32 cents to $10.42. KLE Group gained 1 cent and ended with 95,562 units changing hands at $2.50, Lasco Distributors ended trading with 8,000 units changing hands to end at $7 after falling 30 cents. Lasco Financial had 18,648 shares changing hands and rose 5 cents to end at $4, Lasco Manufacturing with 5,997 units changing hands and closed with a gain of 5 cents at $5.20, Paramount Trading closed with a loss of 12 cents at $3.10 with 67,618 shares changing hands and tTech closed trading with 15,948 units changing hands to end at a record $6.90.
Sharp drop trading Trinidad stocks
Trading on the Trinidad & Tobago Stock Exchange on Monday resulted in sharp decline in the number of active securities and declines in the two main indices.
The market closed with 10 securities changing hands in contrast to 16 on Friday with 1 stock advancing, 2 declining and 7 unchanged. A total of 174,656 units valued at $3,712,321 traded compared to Friday’s trades of 662,006 shares valued at $5,506,299.
The Composite Index declined 2.06 points to 1,223.02, the All T&T Index dropped 4.14 points to 1,830.07 while the Cross Listed Index gained a mere 0.01 point to 82.44.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 10 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| National Enterprises gained 8 cents to close at $10.85 with 7,540 units being exchanged, to be the sole stock rising.
Losses| First Citizens sustained a fall of 93 cents, closing at $34 with trades of 27,147 valued at $922,998 and Republic Financial Holdings lost 9 cents to close at $108.19 with 6,719 units exchanged for a value of $726,929.
Firm Trades| Clico Investment was unchanged at $22.52 with only 245 shares traded, Grace Kennedy closed at $2.68 with a mere 10 shares changing hands, Guardian Holdings closed at $13.31 with 5,600 units exchanged while Scotia Investments closed at $2.23 with 5,400 shares changing owners. Scotiabank held firm at $58.75, closing with 10,000 units traded at a value of $587,500, Trinidad & Tobago NGL remained at $21, after trading 48,309 shares valued at $1,014,499 and Trinidad Cement closed at $4.50 with 63,686 units transacted.
Sharp jump for JSE stock index
National Commercial Bank (NCB) moved up to a new record high of $60 and Jamaica Producers climbed to a new high of $13 helping to push the main market sharply upwards with the all Jamaica composite Index well over the 230,000 points level.
National Commercial Bank moved up to a new record high of $59 and Jamaica Producers traded just 4,554 units and had no stock on offer while NCB which started trading at $58.20 and rose to $60 but fell back $57 with 56,500 shares trading with the bid back at $59, NCB has only one offer posted to sell 10,000 units at $63.20, Sagicor Group traded 112,753 shares at $30, but now has no stock on offer. Seprod has not traded but has no stock on offer with the bid at $30.
All major markets indices hit new records during the morning session but with moderate trading taking place. The all Jamaica Composite Index jumped 4,740.24 points to 230,861.73 the Jamaica Stock Exchange Market Index leapt 3,933.07 points to 210,805.97, the Jamaica Stock Exchange combined index surged 4,238.60 points to 224,566.64 and the junior market index inched 0.26 points to 2,829.55.
Securities changing hands, amount to 27 at 10:45 am compared to 28 trading on Friday. A total of 12 securities advanced and 7 declined, resulting in a volume of 880,842 shares changing hands, carrying a value of $12,045,282, versus 554,414 shares changing hands, carrying a value of $6,229,690, the average trade for the early session amounted to 29,957 units, compared to 19,801 shares previously.