Saturday 8 August, 2020

NCB stock hits new high

NCB Financial Group chairman Michael Lee-Chin.

NCB Financial Group chairman Michael Lee-Chin.

NCB Financial hit an all-time high of $200 on Friday spurred on by a block trade worth nearly $2.5 billion.

Over 12.9 million units traded on the day most at around $190 but shares rose to $200 on the day before closing at $191.19. NCB gained 6.2 per cent on the day.

The stock will open on Monday at $180 but realistically no shares will trade at that level. Sellers are asking for no less than $198 and buyers are bidding for at $192 and above, according to the JSE market data. The 52-week range for NCB spans $94 to $200.

Also on Friday, shares in the Jamaica Stock Exchange (JSE) stock led gains on the trading of the market increasing 12.7 per cent to close at $25.01.  

The JSE Combined Index advanced by 11,434.20 points ( 2.56 per cent) to close at 458,386.21.

The JSE Index advanced by 12,652.68 points ( 2.82 per cent) to close at 461,748.39. The Junior Market Index declined by 18.14 points ( 0.58 per cent) to close at 3,111.84. The JSE USD Equities Index closed at 188.97. The JSE Financial Index advanced by 4.57 points ( 3.87 per cent) to close at 122.51.

The overall Market activity resulted from trading in 59 stocks of which 26 advanced, 22 declined and 11 traded firm.

Market volume amounted to 73,885,232 units valued at over $3.0 billion.  Wigton Windfarm was the volume leader with 42,676,496 units (57.76per cent) followed by NCB Financial with 12,978,156 units (17.57per cent) and JMMB Group with 10,146,390 units (13.73per cent).


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