Barita Investments opens Wednesday on high
Barita Investments will open the market higher at $86 on Wednesday after tumbling by double-digit amounts on the prior trading day.
The stock fresh from its second rights issue, lost 11 per cent on Tuesday to close at $77.33.
Barita raised some $5 billion in its second rights issue which resulting in diluting the stock which ticked up to $90 this week.The stock will open higher but quickly fall as buyers want the stock at $75 and sellers are willing to part at $80
Also on opening bell, Berger Paints, Blue Power and Kingston Wharves will all try to maintain gains on Wednesday’s opening bell. The three stocks all gained 11 per cent to lead gains on Tuesday.
The JSE Combined Index advanced by 1,921.41 points ( 0.37 per cent) to close at 514,822.43 and the JSE Index advanced by 2,289.23 points ( 0.44 per cent) to close at 518,332.14.
The JSE All Jamaican Composite Index advanced by 2,563.88 points ( 0.45 per cent) to close at 569,634.41.
The JSE Select Index advanced by 98.24 points ( 0.73 per cent) to close at 13,510.41. The JSE USD Equities Index advanced by 0.18 points ( 0.09 per cent) to close at 199.04. The JSE Financial Index advanced by 0.22 points ( 0.15 per cent) to close at 142.78.
Overall Market activity resulted from trading in 71 stocks of which 26 advanced, 37 declined and 8 traded firm.
Market volume amounted to 81,247,441 units valued at over $162,699,658.73. Wigton Windfarm was the volume leader with 60,562,467 units (74.54per cent) followed by Sagicor Select with 8,895,701 units (10.95per cent) and QWI Investments with 7,456,446 units (9.18per cent) .