TTSE: Still exhibiting weakness

Wednesday, 19th February 2014 | Trading remained subdued on the Trinidad & Tobago Stock Exchange with only 37,483 shares trading valued at $1,826,137. On Tuesday 29,258 shares traded with a value of $1,647,664.

Overall Market activity resulted in 10 securities trading of which 2 advanced, 2 declined and 6 traded firm. The effect of the price changes were reflected in the market indices with the Composite Index advancing by 0.05 points to close at 1,192.43, the All T&T Index inched up by 0.10 points to close at 2,000.44 and the Cross Listed Index remained at 50.49.

Gains | Guardian Holdings with 2,600 shares valued at $36,821 to close at $14.16 and Unilever with 220 units to close at $56.54, both stocks gained a cent each.

Losses | First Citizens Bank had 4,410 shares traded for $171,892 and closed at $38.97 and Agostini’s contributed 4,000 shares with a value of $71,139 to close at $17.79 both declining by a cent.

TTSEFeb19Firm Trades | Clico Investment Fund posted 8,225 shares valued at $178,473 with the price remaining at $21.70; Neal & Massy traded 789 units to close at $66.25; One Caribbean Media traded only 20 shares to end the day at $19.25; Scotia Bank had 15,553 shares changing hands for a value of $1,119,816 with the price closing at $72; Republic Bank traded 1,560 to close at $117 and Point Lisas Industrial Port Development traded 106 units $3.60.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling price and 2 stocks with offers that were lower.

Image courtesy of watcharakun/FreeDigitalPhotos.net

D&G, Carreras & C&WJ now Buy Rated

IC Insider has added Desnoes & Geddes, Carreras and Cable & Wireless Jamaica to the Buy Rated list.

Desnoes & Geddes reported gains of 21 percent for the six months to December, earnings excluding one-off items and is poised to earn 80 cents for the full year ending in 2014. Forecasted earnings for the 2015 year is $1.10.

For Carreras the worse seems to be over with the last set of interim figures showing sales starting to recover from the impact caused by the price increase and the stock piling of cigarettes in the 2012 December and March 2013 quarters. IC Insider’s forecast is for earnings of around $5 per share for the year to March 2014.

Cable & Wireless’ sharp increase in cellular revenues and cost cutting will change the bottom-line markedly going forward.

Berger Paints Jamaica has been added to the market watch list flowing from a revival in earnings for the March 2014 year.

Related posts | D&G elevated to Buy Rated! | Carreras is back | CWJ loss down with much progress | Berger keeps profit gains

BUY&WATCHFeb12th

Image courtesy of suphakit73/FreeDigitalPhotos.net

JSE: Cable & Wireless dominates trade

Tuesday, 11th February 2014 | Cable & Wireless dominated trading on the Jamaica stock market with 25 million units as the stock closed at a new 52 weeks high of 34 cents in reaction to news out of the UK parent company that mobile revenues had climbed 43 percent in the December 2013 quarter over that of 2012.

Prices of 9 stocks rose and 10 declined with a total of 28 securities trading, resulting in 28,122,916 shares changing hands for a value of $40,180,273

The JSE All Jamaican Composite declined by 109.45 points to close at 83,682.30. The JSE Market Index gained 8.97 points to 79,193.51.

Main Market gains | Stocks with increased prices at the end of trading include Caribbean Cement with 536,064 shares as it gained 48 cents to close at $4.60; Carreras closed up by 65 cents to $35 while trading 66,036 units; Gleaner traded 5,000 units to close at $1.15 for a 5 cents improvement; Kingston Wharves had 10,805 to close up 6 cents at $6.06; Scotia Investments traded just 3,136 units as the price closed at $26.50 for a $2 increase.

Firm trades | Berger Paints having 1,000 units at $1.75; Ciboney with 557,600 units at 10 cents; Jamaica Broilers had 1,000 shares trading to close at $4.86; Grace Kennedy, 990 shares, as the price closed at $55 and Seprod closing at $11 with 500 shares trading.

Losers | Amongst the losing stocks are Desnoes & Geddes with 429,937 shares to close at $4.86, a fall of 14 cents; First Caribbean International Bank with 800 units to shed $1 to close at $80; Jamaica Money Market Brokers had 122,797 units trading with the price easing 5 cents to close at $7.40; Mayberry traded 8,000 shares to close at $1.91, down by 9 cents; National Commercial Bank traded 16,417 units to close at $18 for a 10 cents decline; Sagicor Group 18,774 shares to close at $9.10, a decline of 20 cents; Sagicor Investments with just 1,000 units to close at $18.00 for 50 cents decline. Sagicor Real Estate X Fund declined by 1 cent to close at $7, with 14,605 units changing hands; Scotia Group exchanged 1,084,114 units as the price fell by 10 cents to close at $21; Supreme Ventures exchanged 48,700 shares at $2.39, one cent less than the opening price.

The JSE Junior Market Index closed with a gain of 10.91 points to 759.95 as only six stocks traded in this market on Tuesday.

JSEIndicesFeb11Junior Market winners | Three stocks to close higher are Caribbean Producers trading 20,000 shares to close at $2.70, up 15 cents; Lasco Distributors with 73,000 at $1.45 up 10 cents and Medical Disposables 44,000 units trading up 4 cents to $2.10.

Firm trades | AMG Packaging trading only 100 shares to close at $3.60; Consolidated Bakeries with 14,300 shares to close at $1.15 and Lasco Financial with 21,253 shares at $1.35.

Declines | There were no declining stocks in the junior market.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

JSE: Starts week down

Monday, 10th February 2014 | JSE Market and the All Jamaican Indices were down on the Jamaica Stock Exchange as the prices of 10 stocks rose and 9 declined with a total of 31 securities trading, resulting in 2,016,956 shares changing hands for a value of $38,412,196.

The JSE All Jamaican Composite declined by 380.26 points to close at 83,572.85. The JSE Market Index fell by 250.68 points to 79,184.54.

Main Market gains | Caribbean Cement with 29,870 shares as it gained 10 cents to close at $4.12; Carreras closed up by 25 cents to $34.35 while trading 65,939 units; Jamaica Broilers had 51,214 shares trading and was up 6 cents to close at $4.86; Mayberry traded 2,000 shares to close at $2, up by 15 cents; National Commercial Bank with 302,200 units to close at $18.10 for a 10 cents gain; Sagicor Real Estate X Fund increased by 1 cent to close at $7.01, a new 52 weeks high with 8,700 units changing hands; Scotia Group with 59,150 units as the price rose by 9 cents to close at $21.10; Seprod rose 10 cents to close at $11 with 15,000 shares trading.

Firm trades | Six ordinary shares traded firm in the main market and two in the preference section. Berger Paints having 166,803 units at $1.75; Cable & Wireless with 403,970 shares to close at 30 cents; Grace Kennedy with 303,243 shares as the price slipped by 10 cents to $55; Jamaica Producers with 128,000 shares at $18.75; Kingston Wharves 22,753 shares to close at $6 and Radio Jamaica 6,245 shares at $1.60.

Jamaica Money Market Brokers 8.75% preference share traded 10,000 units to close at $3 with and the 7.25% closed at $2.50 while trading 1,000 shares.

Losers | Counted amongst the losing stocks are Barita Investments with 3,000 units at $2.50, a 10 cents drop; Jamaica Money Market Brokers had just 1,150 units trading with the price easing 3 cents to close at $7.40; Sagicor Group 25,491 shares to close at $9.30, a decline of 20 cents; Scotia Investments traded just 1,693 units as the price closed at $24.50 for a fall of $2; Supreme Ventures exchanged 13,800 shares at 3 cents less than the opening price.

JSEIndicesFeb10The JSE Junior Market Index closed down by 6.62 points to 749.04 as the price of only 2 stocks gained and 4 declined.

Junior Market winners | Access Financial with a gain of 10 cents in trading 9,028 units to close at $10.56 and Lasco Financial with 64,100 shares at $1.35, up 15 cents.

Firm trades | AMG Packaging trading only 1,054 shares to close at $3.60; General Accident 90,649 shares to close at $1.60 and Honey bun with 5,000 shares and closed at $3. Eppley 9.5% preference shares traded 21,600 units at $6.

Declines | Four stocks that suffered declines include Caribbean Producers while trading only 4,000 shares to close at $2.55 and down 15 cents; Dolphin Cove with 4,900 units, closing down 30 cents to end at $8.60; Lasco Manufacturing 55,962 units to close down a cent to $1.25 and Medical Disposables 10,000 units trading down 4 cents to $2.06.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower. The reading, which had climbed to 10 to 2 on Friday, is back to the levels seen last week Thursday with a 4 to 4.

First Caribbean may be delisted

First Caribbean Bank has left it to the Jamaica Stock Exchange to determine if they will delist the shares, according to an advert put out by the Bank, which is listed on various exchanges within the region.

The JSE advised them that the number of shares in the public hands is less than 20 percent as is the requirement. In addition, the level of trading is below the threshold desirable, being less than 2 percent average over 36 months, prior to the making notice to the Bank. As a result, the advert also indicated that the company was in breach of section 402b (1)(b) of the JSE rules.

After careful review of the matter, the bank has determined that it will not be feasible for either the proportion of the non-majority held shares or the average total traded volume to be raised to the minimum required in the foreseeable future.

FirstCaribbeanLogo150x150The bank has decided that it will accept that it will be delisted by the JSE and has invited the JSE Board to exercise its discretion under rule 411a to delist the bank at its February meeting.

The bank is the largest holding by market share on the exchange and this will be the second large corporation taken off the exchange this year, if in fact, the JSE moves to delist to shares.

Trinidad Guardian Holdings opted not to remain listed on the JSE at the start of 2014 based on the low level of trading in its stock. The JSE went public last year against the background of lower income and profits than the year before and these moves will mean reduced income for the JSE and most likely worsen the loss position they suffered in the last three quarters of 2013.

Related posts | FCIB gets punched | JSE IPO oversubscribed by 41%

JSE: Advances more than declines

Monday, 3rd February 2014 | The first trading day on the Jamaica Stock Exchange for the new month saw more stocks gaining value than those that lost but the main market indices fell as 27 securities changed hands with 8 advancing and 6 declining.

The JSE Market Index lost 951.58 points to end at 81,436.23 and the JSE All Jamaican Composite declined by 1,443.46 points to close at 83,938.97. For the Junior Market, the index slipped by 3.93 to close at 780.55. Trading resulted in only 2,182,178 units changing hands with a value of $18,449,519.

Main Market | As the market gave back some of the gains garnered towards the end of January, investors have to learn to stomach the month-end moves and not get caught up in the hype that often accompany seasoned investors behaviour towards each month end. The pull back in prices of some of last week’s winners, namely Scotia Group, National Commercial Bank and to a lesser degree Grace Kennedy and Scotia Investments, had a telling impact on the main market indices.

Stocks gaining | Cable & Wireless with 215,000 units to close at a 52 weeks high of 27 cents with the price gaining 2 cents at the end of trading; Caribbean Cement exchanged 22,056 shares with the price increasing by 13 cents to end the day at $4.80; Carreras 30,780 shares to close at $33.99 for a 49 cent gain; Ciboney with 491,000 units closed up 2 cents at 8 cents; Gleaner with 4,878 shares gained 2 cents to close at $1.12; Jamaica Money Market Brokers gained 9 cents to close at $7.49 with 60,700 shares.

Stocks falling | Desnoes & Geddes with 41,286 units to close at $4.98 as the price slipped by 52 cents; National Commercial Bank with only 3,636 units at $17.40 for a fall of 60 cents; Scotia Group 673,560 units closing at $20.71 for a $1.23 drop; and Scotia Investments with just 8,740 units as the price fell $3.40 to end at $23.10.

JSEIndices3rdFebFirm Trades | Kingston Properties with 55,680 shares at $4.45; Sagicor Investments 7,235 units at $20 and Sagicor Group with 81,885 shares changing hands at $10. In the preference section, Jamaica Money Market Brokers 7.50% traded 54,119 units at $2.

Junior Market | Of the ten stocks trading in the junior market, only 4 had much volume changing hands.

Gainers | Caribbean Flavours traded only 2,750 shares at a new all-time high of $2.85, the price was up by 35 cents. The company announced that the board of directors will be meeting on February 5, 2014 to consider the payment of a dividend. Lasco Manufacturing traded 101,086 units to close up a cent at $1.32.

Firm Trades | Lasco Distributors traded 149,915 units and closed at $1.45; Consolidated Bakeries traded with 52,765 units at $1.15 and AMG Packaging 7,050 shares at $3.45.

Stocks falling | Lasco Financial Services traded 99,000 units, lost 4 cents to close at $1.35 and Medical Disposables 5,000 units at $2.05, down 5 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 1 stock with the offer that was lower.

Buy rated: Coming in from the cold

A number of the Buy Rated stocks are coming in from the cold as prices rose during the last week of January.

The Jamaica Stock market made big strides, separate and apart from the flurry of trading action emanating from the landmark announcement of Sagicor Group’s acquisition of RBC’s Jamaica operations. Wednesday’s trading activity was the best day for months as 21 stocks advanced in price and the main market indices climbed sharply on three consecutive days.

The Jamaican main market trading had 8 stocks climbing and only 1 declining. Sagicor Group gained 18 percent in the aftermath of the RBC takeover, Scotia Group put on 7 percent, Barita gained 4 percent and Caribbean Cement 3 percent.

Percent on falling cubes280x150pxThe Junior market had mixed fortunes with three of the Buy Rated selections rising; Caribbean Producers gained 2 percent and Lasco Manufacturing 4 percent, while Caribbean Cream fell 9 percent and General Accident fell by 4 percent.

Only one stock lost value on the Trinidad Stock Market as First Citizens dipped 6 percent by week end and Sagicor Financial gained 4 percent.

Jamaica Stock Exchange | From inception of the Buy Rated list in July 2013, Barita is up 13 percent, Caribbean Cement 77 percent, Hardware & Lumber 76 percent, Sagicor Group 5 percent. Those with losses in the main market are all less than 10 percent with JMMB at 8 percent being the largest loser. Junior market stocks are not fearing as well with only Access Financial which was up to 44 percent when we pulled it and placed it as Market Watch. Caribbean Producers is up 35 percent so far and Blue Power way behind at 7 percent increase. The big losers so far are Lasco Manufacturing down 21 percent, Caribbean Cream 18 percent, Jamaican Teas off by 14 percent and Lasco Financial 10 percent.

BuyRated31Jan2014Trinidad Stock Market | First Citizens, which gained 52 percent in the first round, is up 2 percent since being reinstated to the Buy Rated list even as the price declined from its peak. Neal & Massy is now up 11 percent, Grace Kennedy 12 percent, One Caribbean Media 8 percent, Republic 6 percent, Trinidad Cement 130 percent and 12 percent for Sagicor Financial. The losers number only 4 with Guardian Holdings down 14 percent, JMMB 2 percent, Point Lisas 8 percent and Scotia Investments 24 percent.

The coming week could be interesting in the Jamaican market as the past week showed signs of increased interest in the market. Will the interest continue into February or  just a month-end dressing? Whatever the case, what is quite clear is that the supply of stocks for many of the Buy Rated stocks have been waning with some having virtually none on the sell side. February could see the return to a decisive bull market.

Related posts | RBC acquisition confirmed | First Citizens off Buy Rated list

Image courtesy of tungphoto/FreeDigitalPhotos.net

JSE: 4% gain for month

Friday, 31 January 2014 | The Jamaica stock market closed the first month of the year up 4 percent measured by the All Jamaica and the junior market indices. The market closed out the week on a high, continuing the strong gains recorded on Wednesday and Thursday.

The overall market recorded 11,559,237 shares changing hands for a value $99,774,593.75. The advance decline ratio changed from Thursday with only 7 prices closing with gains versus 9 that fell, even as the main market indices rose strongly with gains from Scotia Group and Desnoes and Geddes. Three stocks closed at 52 weeks high, Desnoes & Geddes, Knutsford Express and Cargo handlers.

The JSE Market Index gained 1,072.34 points to end at 82,387.81 and the JSE All Jamaican Composite advanced by 1,626.66 points to close at 85,382.43.

JSEIndicesJan31Main market gains | The number of stocks that rose were less than on Thursday as the following recorded gains; Desnoes & Geddes with 42,800 units as it hit a new 52 weeks high of $5.50 as the price rose by 50 cents; Caribbean Cement with 153,200 units close 10 cents higher at $4.75; Jamaica Money Market Brokers 8.75% preference share traded 159,671 units at 5 cents higher at $3.05; Sagicor Real Estate X Fund 91,192 units at $6.75 for a 25 cents gain and Scotia Group having 1,569,595 units trading to close up $1.43 at $21.94.

Firm Trades | Cable & Wireless traded firm with 1,584,941 shares at 25 cents; Hardware & Lumber 1,000 shares at $8.08; Jamaica Broilers Group 10,000 units at $4.75; Jamaica Producers Group 2,370 shares at $18.75; Jamaica Stock Exchange 888 shares at $2.10; Kingston Wharves 23,466 shares at $6.06; National Commercial Bank 63,871 units at $18; Radio Jamaica 1,312 shares $1.60; Sagicor Group 165,098 shares at $10 and Sagicor Investments Jamaica just 1,286 units at $20.

Losers | Proven Investments ordinary share with 236,350 units to close at US16 cents as the price slipped; Gleaner 3,000 shares at $1.10, a 2 cents fall; Jamaica Money Market Brokers 6,902,685 shares at $7.40 valued at $51,637,516 as the price slipped by 9 cents; Berger Paints 10,000 units at $1.75, down 10 cents; Carreras with 86,604 units to close at $33.50 down 49 cents; Pan Jamaican Investment 5,139 shares as the price slipped by 49 cents to $48.50 and Grace Kennedy 7,177 units at $55.50 off by 50 cents.

The JSE Junior Market Index inched up 2.69 points to close at 784.48 as more shares gained than lost.

Junior market gains | There were 3 stocks recording gains in the junior market as Cargo Handlers exchanged 5,292 shares as the price gained 43 cents to close at a new all-time high of $14.03; Lasco Distributors traded 50,000 units to close up 3 cents at $1.45; and Knutsford Express 1,690 units at $5.17 for a cent increase to a new all-time high.

Firm trades | Blue Power Group 5,000 shares at $9.80; Caribbean Cream 400units at 85 cents; Medical Disposables 69,267 shares at $2.10.

Losers | There were few losing stocks in the junior market as Lasco Financial traded 265,000 shares to close at $1.39 losing a cent and Lasco Manufacturing traded 39,500 units for 2 cents fall to $1.31.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than the last selling prices and only 1 stock with a offer lower.

JSE: Sagicor Companies dominate trading

Thursday, 30 January 2014 | Sagicor Group of companies were the dominant trades in the Jamaica stock market as investors responded to the news of the takeover of RBC Jamaican operations by trading 1,365,319 shares of Sagicor Group for $13,747,021 pushing the price up by a $1 to close at $10 and the also drove up Sagicor Investments price as it closed up by $1.50 at $20 but with only 6,279 share trading.

The stock market continued where it left off on Wednesday the more stocks recording gains than those that fell as the overall market recorded 7,033,415 shares changing hands for a value $33,797,672. Knutsford Express traded at a new 52 weeks high of $5.16. The advance decline ratio changed from Wednesday with only 11 prices closing with gains versus 7 that fell compared with 21 to 10 on Wednesday.

The JSE Market Index gained 774.99 points to end at 81,315.47 and the JSE All Jamaican Composite advanced by 1,175.59 points to close at 83,755.77.

Main market gainers | Kingston Wharves 3,000 units to close up by 6 cents at $6.06; Scotia Group with 78,163 units closed up 11 cents at $20.51; Scotia Investments  traded just 9,425 units but closing up 25 cents at $26.50; and Supreme Ventures 23,550 units to close up 13 cents at $2.43.

JSEIndicesJan30Losers | Berger Paints with 365,424 units closing at $1.85 and was off by a cent; Caribbean Cement with 23,000 units, closing down 35 cents to $4.65; Desnoes & Geddes 10,000 shares at $5.00 as the price eased by 15 cents; Grace Kennedy 32,000 shares to close at $56.00, down by 30 cents; Jamaica Broilers 31,531 units at $4.75 for a 25 cents fall; Jamaica Producers 480 units to close at $18.75, off by $1.05; and Pan Jamaican Investment Trust with only 554 shares to close down $1.01 at $48.99,

Firm traders | Cable & Wireless with 337,583 units at 25 cents; Carreras 55,258 units at $33.99; Jamaica Money Market Brokers with 3,900 ordinary shares at $7.49; Jamaica Money Market Brokers 8.75% preference share with 3,214,000 units at $3 and the 7.50% preference share with 260,400 units at $2; Mayberry Investments 6,797 shares at $2; Sagicor Real Estate X Fund 3,000 shares at $6.50; Salada Foods 8,950 shares at $9 and National Commercial Bank 59,462 units at $18.

The JSE Junior Market Index declined by 1.20 points to close at 781.79 with no stock recording a loss.

Junior market gainers | Lasco Financial 100,000 shares $1.40, up by 10 cents; 1,690 shares of Knutsford Express closing at $5.16, up 4 cents for a record high; Lasco Distributors 790,200 units at $1.42 for a cent gain and Lasco Manufacturing gained a cent to close at $1.33 with 61,905 units.

Firm trades | Blue Power 5,000 units at $9.80; Caribbean Producers at $2.75 with 171,045 shares and KLE Group with 4,900 at $1.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling prices and 3 stocks with offers that were lower.

JSE: Big day with 21 stocks gaining

Wednesday, 29th January 2014 | Nearly a third of the stocks listed recorded gains on Jamaica stock market as investors woke up to the news that Sagicor Group were to acquire RBC Royal Bank‘s Jamaica operations. It was, however, not a big day for volume or the value of stocks traded as 6,325,652 shares changed hands at a value of $46,429,845. Trading resulted in the indices gaining across the board.

The main market had one of its best days for some time with advancing stocks out numbering declining stocks by a good margin. Activity seems to have been stirred by the announcement of the takeover of RBC Jamaican operations leading to the JSE Market Index advancing by 972.98 points to 80,540.48 and the JSE All Jamaican Composite moving up by 1,475.93 points to close at 82,580.18.

Main market gains | The main market recorded the bulk of the stocks to record gains with Berger Paints posting 6,088 shares to close at $1.86 for a cent increase; Barita Investments 17,000 shares to close at $2.60, up 10 cents; Cable & Wireless 2,126,000 for a gain of 3 cents to close at a new 52 weeks high of 25 cents; Desnoes & Geddes 20,180 units as the price put on 15 cents to close at $5.15; Gleaner Company 58,932 units to close 2 cents up at $1.12; Jamaica Broilers 334,018 shares as the price closed up 24 cents at $5; Jamaica Money Market Brokers had only 600 units but the price closed at $7.49 put on 9 cents; Jamaica Producers 9,000 at $19.80 up $1.05; Kingston Wharves 49,000 units as the price gained 44 cents to end at $6; Mayberry Investments 100,000 as the price moved up by 17 cents at $2.

JSEIndicesJan29National Commercial Bank 326,899 units to close 20 cents up at $18; Pan Jamaican Investment Trust 169,554 shares gaining $1.80 to close at $50; Sagicor Investments with 186,619 shares to close at $18.5 for $1.83 gain; Proven Investments ordinary shares traded 8,236 and reached an all-time high of US18 cents for a 2 cent increase; Radio Jamaica 15,000 shares at $1.6 to close up by 8 cents. Sagicor Group 12,900 shares as the price gained 90 cents to close at $9 pushed by the news of RBC takeover; the bid at the close was at $9.80. Scotia Investments traded 200,100 and gained $1.25 to end at $26.25; Seprod with 12,500 shares closed at $10.90 up by 10 cents; Supreme Ventures 10,000 units closing at $$2.30 for 10 cents gain.

Losers | The losers were few with Caribbean Cement trading 578,900 shares and lost a cent to end at $5; Scotia Group 420,404 units to close at $20.40 down 10 cents; Grace Kennedy with 77,523 shares to close at $56.30, a fall of 70 cents.

The JSE Junior Market Index advanced by 8.54 points to close at 782.99 but only two stocks recorded gains for the day.

Junior market gains | Stocks to record gains are Caribbean Producers Jamaica 343,300 at a new 52 weeks high of $2.75, up by 5 cents; Access Financial 10,000 units at $11, a gain of $1.

Losers | The junior market suffered more declining than rising prices as AMG Packaging traded 5,854 units to close at $3.45 down 3 cents; Consolidated Bakeries 3,000 shares at $1.15 down 2 cents; Dolphin Cove 20,000 shares to close at $8.90, a loss of 10 cents; General Accident 22,670 shares at $1.80 for a decline of 5 cents; Lasco Distributors 128,800 shares closing at $1.41, off by a cent; Lasco Financial 480,544 units at $1.30 down by 5 cents; Lasco Manufacturing 128,000 shares down a cent at $1.32.

Firm trades | Derrimon Trading was the only stock to trade firm in the junior market with 2,000 units at $2.35.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 7 stocks with bids higher than the last selling prices and 2 stocks with offers that were lower.