Sunday 8 December, 2019

Kremi up more than 20%; Indies Pharma makes trading debut

Investors attempted to exchange shares in Indies Pharma Limited as high as $2.65 or 75 per cent higher on its opening day of trading on the Jamaica Stock Exchange (JSE), but these trades were canceled.

The regulator cancels such trades when a stock initially opens on the market and bursts beyond the double-circuit breaker (30 per cent higher than the previous days' highest bid).  The stock will re-open trading at its initial public offer price of $1.50 but the previous day’s bids will allow the stock to widely trade up or down.

On the day, Caribbean Cream (Kremi) led double-digit gains on Wednesday’s trading of the Jamaica Stock Exchange (JSE).

Kremi gained 20.6 per cent to close at $5.80 with only 650 units. It was followed by 1834 Investments up 9.35 per cent and Express Catering up 9.3 per cent.

The JSE Combined Index advanced by 811.75 points ( 0.25 per cent) to close at 323,297.28.

The JSE Index advanced by 569.76 points ( 0.18 per cent) to close at 314,096.70.

The JSE All Jamaican Composite Index advanced by 625.35 points ( 0.18 per cent) to close at 344,739.60.

The JSE Select Index advanced by 18.82 points ( 0.20 per cent) to close at 9,311.34. The Junior Market Index advanced by 26.04 points ( 0.83 per cent) to close at 3,161.89. The JSE USD Equities Index advanced by 0.12 points ( 0.08 per cent) to close at 159.36.

Overall Market activity resulted from trading in 53 stocks of which 23 advanced, 23 declined and seven traded firm.

Market volume amounted to 10,360,473 units valued at over $131,252,940.02. WISYNCO was the volume leader with 2,011,245 units (19.41per cent) followed by ELITE with 1,270,903 units (12.27per cent) and Sagicor Group Jamaica Limited with 1,110,079 units (10.71per cent) .

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