Declining stocks dominate trade

The Jamaica Stock Exchange continues to lose ground with more stocks falling than rising as the prices of only 5 stocks rose and 12 declined with 25 securities traded resulting in 2,034,342 shares trading valued at $8,897,265 but the junior market index rose although the two main market indices fell.
Main Market| Only 2 companies in the main market advanced at the end of trading and one from the US dollar market and 6 declined as the indices moved down with the JSE Market Index erasing 432.21 points to close at 72,697.29 and the JSE All Jamaican Composite index lost 483.28 points to close at 79,996.96.
Gains| Stocks recording gains at the end of trading in the main market are Cable & Wireless in trading 51,164 shares to close with a gain of 2 cents at 34 cents, Margaritaville gained 2 US cents to close at 12 US cents with 340 units changing hands for the first time since listing to close at a new high and Sagicor Group swapped 177,506 units 5 cents higher to end at $9.30.
Firm| There were 6 stocks in the main market to close without a change in price with Grace Kennedy trading 1,000 units and closed at $55, Jamaica Broilers 156,467 shares closing at $4.70, National Commercial Bank 25,550 shares to close at $18, Radio Jamaica 30,895 shares closing at $1.29, Sagicor Real Estate Fund 4,940 units in closing at $6.60, Scotia Group 109,624 shares to close at $19.70.
Declines| The number of stocks that declined in the main market are Caribbean Cement with 30,316 shares while losing 20 cents to end at $3.30, Carreras 11,000 shares to close at $34.75 with a $1.20 decline, Gleaner 74,821 stock units to close with a cent down at $1.10, Pan Jamaican Investment as it traded 15,486 shares to close at $48.10 with the price falling by 40 cents, Salada Foods down by 10 cents while trading 2,830 units at $7.90, Scotia Investments 10,635 shares to close at $23.50, a decline of $2 and Supreme Ventures 316,847 stock units to close with a loss of 10 cents to $2 for a new 52 weeks low.
Junior Market| The JSE Junior Market Index rose 3.56 points to close at 729.12 as only 9 stocks traded with 2 advancing and 2 declining.
Gains| Stocks recording gains at the end of trading in the junior market are Jamaican Teas with 49,530 units to close at $3.45 as the price rose by 24 cents and Lasco Financial Services traded 31,500 shares to close 5 cents higher at $1.15.
Firm Trades| The 2 stocks in the junior market stocks that traded to close at the same price as the day before are Caribbean Producers with 50,000 shares closing at $2.73 and Lasco Distributors with 222,054 units to close at $1.40.
Declines| Five stocks declined in the junior market at the end of trading are AMG Packaging in trading 5,000 units to close at $3.30, down 19 cents, for a 52 weeks low, Caribbean Flavours with 53,065 units to close with a 20 fall to $2.50, followed by Consolidated Bakeries 157,299 as the price declined by 18 cents in light of the reduced profits reported for the March quarter to end at 92 cents. The company saw profits fall 48 percent to $7.4 million in the March quarter from reduced gross profit margin in spite of a 14 percent rise in sales revenues to $197 million. General Accident 200,198 shares to close at $1.48 with a one cent fall and Lasco Manufacturing that is expected to report final results for the year to March by the end of May traded 246,275 units to close with a one cent loss at $1.14.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.