JSE Daily: FOSRICH, GWEST Listed Despite A Myriad Of JSE Errors – Dec 21, 2017

December 21, 2017

Stock market performance report for Thursday 21st of December 2017 below.

Jamaica Stock Exchange (JSE)

Summary

  • JSE Combined Index – 173.1m shares / $1.7b traded. (17 Advanced / 19 Declined / 4 Firm) .
  • There were 1 new 52-week highs and no 52-week lows today.

Note: We are of the opinion that the JSE needs to do a much better job of handling new listings of stocks on the exchange. Take the example of FosRich which began trading on the first day as FOS, and today it is now being traded as FOSRICH. This is a simple example of the myriad of errors and missteps by the exchange. This added to the continuous story of canceled trades (whether actual or perceived), reversals and misinformation on new listings just compounds the problem.

Almost every single listing of late has been marred by some mistake by the stock exchange. Limited communication & feedback from the exchange; and regulatory oversight doesn’t make it much better. We are appealing for a much better handling of upcoming listings.

Market Performance

  • Ordinary Shares – Main Market – 171,651,438 shares, 25 stocks traded, 13 not traded.
  • Ordinary Shares – Junior Market – 1,497,632 shares, 14 stocks traded, 17 not traded.
  • Preference Shares – Junior Market – 0 shares, 0 stocks traded, 3 not traded.
  • Preference Shares – Main Market – 0 shares, 25 stocks traded, 19 not traded.

Top 5 Advancing Stocks (view all advancing stocks here)

  1. FOSRICH shares advanced 49.50% or +0.99 to close at J$2.99 with 16,000 shares traded.
  2. GWEST shares advanced 14.80% or +0.37 to close at J$2.87 with 3,000 shares traded.
  3. Pulse Investments (PULS) shares advanced 14.10% or +0.22 to close at J$1.78 with 500 shares traded.
  4. Main Event Entertainment Group Ltd (MEEG) shares advanced 13.21% or +0.70 to close at J$6.00 with 296,246 shares traded.
  5. Caribbean Producers Jamaica (CPJ) shares advanced 5.79% or +0.22 to close at J$4.02 with 322,112 shares traded. (Today’s range: J$4.00 – J$4.10)

Top 5 (Intra-Day) Advancing Stocks (Not including the top 5 advancers above)

  1. Knutsford Express Services Ltd (KEX) traded as high as 5.71% above yesterday’s closing price of J$14.00 (between J$14.00 and J$14.80) . It closed at J$14.78.
  2. General Accident Insurance Company Jamaica Ltd (GENAC) traded between 3.51% and 5.26% above yesterday’s closing price of J$2.85 ( from J$2.95 to J$3.00) . It closed at J$3.00.
  3. Scotia Group Jamaica (SGJ) traded between -2.80% and 4.74% above yesterday’s closing price of J$51.50 ( from J$50.06 to J$53.94) . It closed at J$50.84.
  4. PanJam Investment limited (PJAM) traded between -0.19% and 4.46% above yesterday’s closing price of J$43.08 ( from J$43.00 to J$45.00) . It closed at J$43.64.
  5. Jamaica Stock Exchange Ltd (JSE) traded at 3.55% above yesterday’s closing price of J$7.05. It closed at J$7.30.

Top 5 Value Traded

  1. Supreme Ventures Ltd (SVL) shares valued at J$1.7b were traded. The stock moved -10.95% or -1.15 to close at J$9.35 with 168,705,372 units traded. (Today’s range: J$9.35 – J$10.70)
  2. Jamaica Money Market Brokers Group Ltd (JMMBGL) shares valued at J$45.3m were traded. The stock moved -3.87% or -0.93 to close at J$23.09 with 1,905,342 units traded. (Today’s range: J$23.00 – J$24.50)
  3. NCB Financial Group Ltd (NCBFG) shares valued at J$22.3m were traded. The stock moved -0.25% or -0.25 to close at J$99.34 with 224,896 units traded. (Today’s range: J$98.50 – J$100.00)
  4. Scotia Group Jamaica (SGJ) shares valued at J$8.7m were traded. The stock moved -1.28% or -0.66 to close at J$50.84 with 168,006 units traded. (Today’s range: J$50.06 – J$53.94)
  5. GraceKennedy Ltd (GK) shares valued at J$5.7m were traded. The stock moved -0.88% or -0.38 to close at J$42.62 with 132,187 units traded. (Today’s range: J$42.50 – J$43.00)

Top 5 Volume Traded

  1. Supreme Ventures Ltd (SVL) – 168.7m units traded. The shares moved -10.95% or -1.15 to close at J$9.35 (Today’s range: J$9.35 – J$10.70)
  2. Jamaica Money Market Brokers Group Ltd (JMMBGL) – 1.9m units traded. The shares moved -3.87% or -0.93 to close at J$23.09 (Today’s range: J$23.00 – J$24.50)
  3. General Accident Insurance Company Jamaica Ltd (GENAC) – 500.0k units traded. The shares moved +5.26% or +0.15 to close at J$3.00 (Today’s range: J$2.95 – J$3.00)
  4. Caribbean Producers Jamaica (CPJ) – 322.1k units traded. The shares moved +5.79% or +0.22 to close at J$4.02 (Today’s range: J$4.00 – J$4.10)
  5. Main Event Entertainment Group Ltd (MEEG) – 296.2k units traded. The shares moved +13.21% or +0.70 to close at J$6.00 (Today’s range: J$5.30 – J$6.00)

Top 5 Declining Stocks (view all declining stocks here)

  1. Supreme Ventures Ltd (SVL) declined -10.95% or -1.15 to close at J$9.35 (trading between J$9.35 and J$10.70) with 168,705,372 shares traded
  2. Sagicor X Fund (XFUND) declined -4.47% or -0.67 to close at J$14.33 (trading between J$14.01 and J$15.00) with 7,820 shares traded
  3. Proven Investments Ltd (Proven) declined -4.35% or -0.0100 to close at US$0.2200 (trading between US$0.2200 and US$0.2200) with 50,000 shares traded
  4. Jamaica Money Market Brokers Group Ltd (JMMBGL) declined -3.87% or -0.93 to close at J$23.09 (trading between J$23.00 and J$24.50) with 1,905,342 shares traded
  5. Mayberry Investments Ltd (MIL) declined -3.11% or -0.18 to close at J$5.60 (trading between J$5.60 and J$5.60) with 100,000 shares traded

Top 5 (Intra-Day) Declining Stocks (Not including the top 5 decliners above)

  1. Kingston Wharves Ltd (KW) traded between 0.78% and -6.00% below yesterday’s closing price of J$32.00 (from J$30.08 to J$32.25) . It closed at J$31.35.
  2. Lasco Manufacturing Ltd (LASM) traded between -0.28% and -3.05% below yesterday’s closing price of J$3.61 (from J$3.50 to J$3.60) . It closed at J$3.56.
  3. Stationery & Office Supplies Ltd (SOS) traded between -0.81% and -2.83% below yesterday’s closing price of J$4.94 (from J$4.80 to J$4.90) . It closed at J$4.80.
  4. Scotia Group Jamaica (SGJ) traded between 4.74% and -2.80% below yesterday’s closing price of J$51.50 (from J$50.06 to J$53.94) . It closed at J$50.84.
  5. Express Catering Ltd (ECL) traded at -2.27% below yesterday’s closing price of J$4.40. It closed at J$4.30.

52-Week High/Lows

1 stock(s) hit 52-week highs today. (more about these stocks here)

  1. Sterling Investments Limited – J$0.12.

Note:

  • JSE Combined Index (J$) includes Ordinary Shares – Main Market and Ordinary Shares – Junior Market
  • JSE Market Index (J$) includes Ordinary Shares – Main Market, Preference Shares – Junior Market, and Preference Shares – Main Market
  • JSE Junior Market Index (J$) includes Ordinary Shares – Junior Market, and Preference Shares – Junior Market
  • JSE US Equities Index (US$) includes Ordinary Shares – US Market, and US Denominated Shares – Main Market

 

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