TransJamaican stock up 9% on second trading day
Transjamaican Highway will open trading on Thursday at $1.37 just under its listing price, but investors are rallying to buy at a lower price.
The bulk of the action will happen between $1.19 to $1.29, which is the highest buyer’s bid and seller’s ask respectively, according to the Jamaica Stock Exchange.
On Wednesday the stock gained 9.3 per cent on its second trading day to close at $1.29.
The stock lost 16 per cent of its value on Tuesday, to close at $1.18.
Transjamaican accounted for the bulk of volumes on Wednesday at 113.4 million units or 88.17 per cent of total day’s volume, followed by Wigton Windfarm with 6.67 million units or 5.18 per cent of trading volume and Transjamaican Highway Limited (USD) with 5.1 million units or 3.97 per cent of trading volumes.
Also on Wednesday stocks which gained strongly included 138 Student Living up 14.1 per cent to $4.69, the Lab up 13.5 per cent to $1.85 and Proven Investments USD up 13.2 per cent to US$0.24.
The day’s big loser was Caribbean Producers Jamaica down 17 per cent to $2.48.
The JSE Combined Index declined by 12,633.94 points (3.61 per cent) to close at 337,506.34.
The JSE Index declined by 13,893.08 points (3.90 per cent) to close at 342,093.89. The Junior Market Index advanced by 12.99 points (0.62 per cent) to close at 2,113.85.
The JSE USD Equities Index advanced by 2.49 points (1.35 per cent) to close at 187.35. The JSE Financial Index declined by 5.70 points (5.80 per cent) to close at 92.56. The JSE Manufacturing & Distribution Index declined by 0.24 points (0.38 per cent) to close at 63.47.
Overall Market activity resulted from trading in 79 stocks of which 36 advanced, 32 declined and 11 traded firm.