JSE Main Market nearing 14 months’ high

In a continuation of a recent bullish trend, stocks traded higher at the close on Thursday to end at the highest level since March 13 last year, when the All Jamaican Composite Index closed at 456,961.91 on the Jamaica Stock Exchange Main Market.
Traded ended with almost twice the number of stocks rising than declining, after 28 percent fewer shares with a 71 percent loss in value traded compared to Wednesday.
The All Jamaican Composite Index climbed 2,228.06 points to 446,596.79, the JSE Main Index advanced 1,926.50 points to 406,691.62 and the JSE Financial Index lost 0.45 points to settle at 99.92.
Overall, 45 securities, down from 52 on Wednesday and closed with 20 stocks rising, 11 declining and 14 remaining unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 16.4.
Trading ended with 9,318,055 shares for $79,985,841 compared to 12,977,111 units at $274,593,779 on Wednesday. Sagicor Select Financial Fund was the lead volume with 20.2 percent, having exchanged 1.88 million shares, followed by Wigton Windfarm with 19.9 percent for 1.85 million units and QWI Investments with 13.2 percent after 1.23 million units changed hands.
Trading averaged 207,068 units at $1,777,463, compared to an average of 249,560 shares at $5,280,650 on Wednesday. Month to date trading averages 229,207 units at $1,720,616, in contrast to 230,354 units at $1,717,673 on Wednesday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than its last selling price and two with lower offers.
At the close, Caribbean Cement jumped $14.25 to close at $89.25 after clearing the market with 69,777 units, following the release of first quarter results showing revenues surging 31 percent and profit jumping 216 percent. Carreras gained 34 cents to end at $9.59 with an exchange of 286,827 shares. Jamaica Broilers advanced $1.49 to $31 with the swapping of 136,227 stock units. Jamaica Producers rose 45 cents to $28.45 after exchanging 64,155 units, Margaritaville declined $5.90 to settle at a 52 weeks’ low of $22.10 in transferring 200 stocks. NCB Financial Group gained 40 cents in closing at $140 with 26,916 units changing hands, PanJam Investment ended $2.48 higher at $65 trading 12,560 shares. Pulse Investments closed 28 cents higher at $4.36 after 395,700 stock units crossed the exchange, Salada Foods dipped 35 cents to $7 with an exchange of 359,341 units. Scotia Group fell $1 in ending at $42 in the swapping of 36,344 stocks, Supreme Ventures rose $1.04 to close at $17.99 with investors switching ownership of 62,609 shares and Victoria Mutual Investments rose 90 cents to end at $7.40 with 126,599 stock units clearing the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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