Friday 23 August, 2019

Sagicor Select set to soar Monday

Kevin Donaldson, CEO, Sagicor Investments Jamaica (left), celebrates the listing of the Sagicor Financial Select Fund on the Jamaica Stock Exchange (JSE), during a ceremony on Thursday, August 8 at the JSE office in Kingston. He is joined by Sagicor Investments and Jamaica Stock Exchange team members.

Kevin Donaldson, CEO, Sagicor Investments Jamaica (left), celebrates the listing of the Sagicor Financial Select Fund on the Jamaica Stock Exchange (JSE), during a ceremony on Thursday, August 8 at the JSE office in Kingston. He is joined by Sagicor Investments and Jamaica Stock Exchange team members.

Sagicor Select Fund jumped 44 per cent to lead gains on Friday and is on a path for higher gains next week on the Jamaica Stock Exchange (JSE).

The stock listed at $1 on Thursday and closed at $1.44 on Friday. Interestingly, it opens lower on Monday at $1.30, but the heavy buying demand for the stock, in the $1.65 range, and unwillingness for sellers to offer anything less than $2.01 will likely see the stock rally heavily on Monday.

Also on Friday, KLE Group gained 32 per cent to close at $2.30 with 100 units trading hands.

The JSE Combined Index declined by 2,831.25 points ( 0.54 per cent) to close at 525,549.23.

The JSE Index declined by 3,324.79 points (0.62 per cent) to close at 529,000.62. The Junior Market Index advanced by 20.53 points (0.57 per cent) to close at 3,600.97. The JSE USD Equities Index advanced by 0.70 points ( 0.37 per cent) to close at 187.37. The JSE Financial Index advanced by 0.02 points (0.01 per cent) to close at 144.30.

Overall Market activity resulted from trading in 67 stocks of which 22 advanced, 34 declined and 11 traded firm.

Market volume amounted to 32,919,194 units valued at over $311.5 million. Wigton Windfarm was the volume leader with 16,632,912 units (50.5 per cent) followed by Victoria Mutual with 3,049,154 units (9.3 per cent) and Jamaica Stock Exchange with 2,450,710 units (7.4 per cent) .

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