Big drop in Junior Market index – Thursday

At the close on Thursday, the Jamaica Stock Exchange Junior Market pulled back from the record high reached on Wednesday and indications at the close suggest more declines are likely on Friday.
The market index dropped 50.86 points to close at 3,612.08, but the fall is not a sign that the market is heading to 4,300 points before moving on to 5,000 that technical indicators point to.
Securities trading on the Junior Market dipped to 32 from 31 on Wednesday, as prices of 13 rose, 16 declined and 3 remained unchanged. For the second trading session, the IC bid-offer indicator was flashing negative signs for the Market for the following trading day.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks closing with higher bids than their last selling prices and 7 closed with lower offers.
Market activities resulted in an exchange of 5,865,706 units valued at $32,690,340 compared to 5,851,203 units valued at $22,568,503 trading on Wednesday.
The average trade for the day was 183,303 units for an average of $1,021,573 in contrast to 188,748 units for an average of $728,016 on Wednesday. The average volume and value for the month to date amounts to 182,669 units valued at $837,814 and previously 182,591 units valued at $815,284 for each security traded. July ended with an average of 138,412 units at $563,215 for each security traded.
Stocks ending with price changes| Access Financial lost 20 cents in trading of 5,621 units at $43, AMG Packaging declined by 17 cents in trading 71,500 units to close at $2.08, Blue Power closed trading of 69,292 units and gained 82 cents to end at $9, Caribbean Cream fell 60 cents in trading of 13,435 units at $4.60. Caribbean Producers closed trading of 10,448 units and gained 15 cents to end at $4.70, Express Catering closed with a loss of 12 cents at $6.37, in swapping 55,653 shares, Everything Fresh shed 7 cents in trading 14,800 units at $1.63, Elite Diagnostic fell 33 cents in trading of 113,448 units at $7.02. Fontana lost 25 cents in trading of 1,169,703 units in closing at $8.25, General Accident lost 58 cents in exchanging 1,036,720 units to end at $5.01, GWest Corporation closed 10 cents higher at $1.21, with 12,119 stock units trading, Honey Bun exchanged 119,616 shares, after rising 74 cents to end at $6.50. iCreate closed with a loss of 5 cents at 75 cents in swapping 82,674 shares, Indies Pharma shed 45 cents in trading of 78,680 units to settle at $3.50. ISP Finance jumped $5 to end at $21, trading 1,500 shares, Jamaican Teas exchanged 66,384 shares to close at $5.60 after falling 22 cents. Jetcon Corporation dipped 20 cents in trading of 75,436 units at $1.80, Knutsford Express fell 10 cents in trading of 500 units at $11.10. Limners and Bards traded 803,097 shares, after rising 10 cents to end at $3.20, Lasco Financial fell 50 cents in trading of 1,244,222 units at $5.50 after the company posted slightly lower first quarter profits, Lasco Manufacturing ended with a loss of 1 cent at $5.50 with 179,107 stock units changing hands. Stationery and Office Supplies fell 25 cents in trading of 17,150 units at $15.50 and tTech Limited climbed 49 cents in exchanging 166,068 shares at $7.99.

Prices of securities trading for the day are those at which the last trade took place.

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