17 JSE stocks drop on Friday

Scotia Group dropped $1.95& helped to pull the market index down on Friday

Jamaican stocks suffered reversal from the gains on Thursday to end Friday with much more losses than gains. On Friday with falling prices outnumbered advancing stocks more than 2 to 1 leading to big falls in the market indices.
At the close of trading, the JSE Market Index sank 1,160.22 points to end at 158,673.33. The all Jamaica Composite Index dropped 1297.53 points to close at 176,286.59 and the JSE combined index dived 1,308.51 points, to end at 170,535.50.
The volume of stocks trading dropped sharply on Friday, with 3,924,169 units valued at $39,797,286, compared to the 6,839,351 units valued at just $23,033,975 changing hands on Thursday. Cable & Wireless dominated trading volume on Thursday with 3.9 million units but traded less than 400,000 shares on Friday.
The junior market accounted for 844,487 units valued at $5,439,011 of the total traded on Friday.

At the close of the market prices of just 7 securities gained out of a total of 33 that traded, with 17 declining in the overall market, including 5 stocks rising and 4 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 6 with lower offers, suggesting continued fluidity in price movements ahead.
In market activity, Berger Paints traded 27,267 shares to end at $5, investors slashed the price of Cable & Wireless by 20 percent, taking it down by 19 cents with 356,419 shares changing hands, to close at 75 cents, the stock remains weak at the close, with lots of selling and little buying interest. Caribbean Cement traded 25,874 shares to close at $25.50, Carreras traded 1,690 shares and fell 77 cents to close at $65.70, The price of 1834 Investments dropped 15 cents in trading at 518,765 shares to end at $1.10, Grace Kennedy dropped $1.54 and ended at $41.45, with 67,952 shares changing hands. Jamaica Broilers had 126,487 shares changing hands, to end with a loss of 8 cents at $14.52. Jamaica Producers

ended at $8.50 with 229,519 units trading, JMMB Group traded 275,597 units and lost 7 cents to $9.88. Kingston Wharves rose $1.30 in trading 9,998 shares to close at $17.40, Mayberry Investments ended with 509,928 shares trading to close at $3.50, National Commercial Bank had 37,402 units changing hands to close with a loss of $1 at $39, Pan Jamaican Investments fell 30 cents and closed at $24 after trading 2,705 shares. Radio Jamaica fell 8 cents to close at $1.40 after 42,764 shares changed hands, Sagicor Group traded 82,050 shares while easing 9 cents off the old price to close at $22.41, Sagicor Real Estate Fund traded 30,540 shares to close at $10.20, Scotia Group dropped $1.95 to close at $29.05 with 549,708 shares changing hands. Scotia Investments had 13,579 units changing hands at $26, Seprod traded 5,400 units but fell $1 to $19.50, Supreme Ventures had 161,905 units changing hands and rose 1 cent to $4.76 and Proven Investments traded 4,133 units to close at 19.87 US cents.