4,700 points drop for JSE – Thursday

Investors chopped 4,700.74 points off the Jamaica Stock Exchange all Jamaican Composite Index to end at 319,507.99 and slashed 4,282.91 points off of the JSE Index to close at 291,107.90 in main Market trading on Thursday with a ratio of 5 stocks rising to 1 falling.
Trading closed with 29 securities changing hands, leading to only 3 advancing, 14 declining and 12 trading firm, in the main and US dollar markets. A few securities closed with sizable price changes as NCB Financial Group fell 99 cents to $98.50, Sagicor Group declined 90 cents to $35.60 and Scotia Group lost $2 to $54.
Main market activity ended with 14,969,349 units valued at $264,028,466 changing hands, versus 99,164,384 units valued at $151,125,249 on Wednesday.
Wisynco Group closed with 9,043,043 units and accounted for 60.41 percent of traded shares, Supreme Ventures with 1,767,895 units amounted to 11.81 percent of trading and NCB Financial Group with 5.97 percent of trades with 893,212 units.
Trading results in an average of 516,184 shares valued at $9,104,430 for each security traded, compared to 366,575 shares valued at $6,045,010 on Wednesday. For the month to date an average of 668,629 units with an average value at 11,259,206 traded, compared to 684,251 units with an average value at 11,503,301 traded on the previous trading day. In contrast, February closed with average of only 213,336 units valued at $3,392,475 for each security traded.
There was no trading in the US dollar market on Thursday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 2 with a lower offer.
For more details of market activities see – Investor bids $1,300 for Palace shares – Thursday.