Knutsford Express gains with split
Consolidated Bakeries (Purity) and Knutsford Express led gains on the Jamaica Stock Exchange (JSE) on Wednesday.
Purity gained 12 per cent to close at $2.75. It was followed by Knutsford Express, which gained 10 per cent to $15.00 in the first day since splitting the stock.
Knutsford Express started the year at $19.99 and climbed to $68 just prior to splitting. It maintains the overall market trend of stocks rising by double-and-triple-digit amounts immediately after splitting. Jetcon and Pulse are set to follow in the coming weeks.
The top declining stock went to KLE Group, down 14 per cent to close at $2.00. The JSE Combined Index advanced by 1,678.46 points ( 0.66 per cent) to close at 256,013.82.
The JSE Index advanced by 1,960.88 points ( 0.83 per cent) to close at 239,129.62.
The JSE All Jamaican Composite Index advanced by 2,152.18 points ( 0.83 per cent) to close at 262,458.74.
The Junior Market Index declined by 12.77 points ( 0.38 per cent) to close at 3,331.90. The JSE USD Equities Index advanced by 9.71 points ( 4.71 per cent) to close at 215.66.
Overall Market activity resulted from trading in 50 stocks of which 27 advanced, 19 declined and four traded firm.
Market volume amounted to 3,050,175 units valued at over $45.4 million. JMMB Group Limited was the volume leader with 1,028,499 units (33.72 per cent) followed by Caribbean Cream Limited with 413,469 units (13.56 per cent) and Paramount Trading (Jamaica) Limited with 344,936 units (11.31 per cent).