All eyes on NCB stock after earnings report
Investors on Monday will be watching the movement of shares in NCB Financial Group following its earnings report late last week.
The stock will open at an all time high of $249 per share on Monday morning, but expect initial downward pressure as buyers are opening the bidding at $215 while sellers are willing to let go of shares at $219. That selling price is at the top of the queue which means that the price will fluctuate later in the day as buyers and sellers adjust their bids and asks. Year to date, the stock has grown 48 per cent.
NCB's profit of $21.3 billion for the six months ending June 2019 was roughly the same from a year earlier, but the pace of profit growth increased in the second quarter - up 27 per cent when compared with the similar quarter a year prior.
GWest gained 39 per cent and Wisynco 25 per cent last week to lead gains over the period of trading activities on the Jamaica Stock Exchange (JSE).
The JSE Combined Index advanced by 21,521.89 points ( 4.22 per cent) to close at 510,001.30.
The JSE Index advanced by 20,837.80 points ( 4.04 per cent) to close at 515,150.21. The JSE All Jamaican Composite Index advanced by 22,930.83 points ( 4.05 per cent) to close at 565,797.64. The Junior Market Index advanced by 217.15 points ( 6.49 per cent) to close at 3,343.36. The JSE USD Equities Index declined by 8.26 points ( 4.49 per cent) to close at 183.80.
The JSE Financial Index advanced by 4.72 points ( 3.41 per cent) to close at 138.25.
Overall Market activity resulted from trading in 107 stocks of which 55 advanced, 21 declined and 31 traded firm.
Market volume amounted to 194,260,361 units valued at over $3.8 billion. Wigrton Windfarm was the volume leader with 116,764,442 units (60.