The Jamaica Stock market suffered large losses in the morning session up to 11 am, in the process the All Jamaica Index trades at 110,281.78 to fall by 2,012.29 points, JSE Market Index declined 1,800.35 points to 99,614.99. The combined index fell 1,738.30 points to be at 103,101.32 and the junior market index 1,013.25, down 4.50 points.
Today the Treasury bill bid in the monthly auction is opened. This is a day when investors’ minds are historically not focused on the stock market as they await the outcome of interest rates, as well as how successful their bidding turn out to be. The sluggishness in trading in the morning session, could be related to this development. At the close of trading on Tuesday the signals were for a weaker market on Wednesday, today’s slowness should come as no great surprise.
On a day when there were few stocks rising, Cable & Wireless buck the trend with a rise to 45 cents with only 88,668 units, Caribbean Cement traded only 1,011 units at $8.20 for a 20 cents rise, Scotia Group fell back from $24.50 to $24.01 with just 5,000 shares and contributed a large portion of the fall in the indices, Jamaica Stock Exchange that traded at a new high of $9 on Tuesday traded just 2,000 shares at $8.50 but the stock has an offer at $8.20. Mayberry fell 55 cents to $2.85, with 42,467 shares, Radio Jamaica traded 2,500 shares with a loss of 99 cents to $3.01 and Supreme Ventures traded at 11,600 shares and fell $1 to $3.50.
A total of 21 securities with a volume of only 2,160,851 units have traded with 10 stocks declining versus 3 that rose.
Big drop for JSE Wednesday morning
August 19, 2015 by
