JSE decline continues on Thursday

The Jamaica Stock Exchange on Thursday closed with main market indices recording tripe digit losses, adding to the big losses on Wednesday. The market closed with a fairly high participation rate of 30 securities changing hands but with low activity resulting in just 2,344,156 units trading, valued at only $14,789,149 with 9 stocks rising, 10 declining with 2 stocks closing at 52 weeks high and 1 at a 52 weeks’ low, in all market segments.
At the close, the JSE Market Index fell 657.55 points to 98,441.76, the JSE All Jamaican Composite index dived 734.97 points to close at 108,970.43 and the JSE combined index dropped 731.14 points to end at 101,943.74.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading that reflects continuation of declining stocks having the upper hand over advancing one with 6 stocks with bids higher than their last selling prices and 9 with offers that were lower.
In trading, Cable and Wireless had 214,092 shares changing hands to end at 40 cents, Caribbean Cement had 112,969 units changing hands at $8.01, Desnoes & Geddes traded 212,380 shares at $7 for a gain of 21 cents, Gleaner closed with 17,000 shares and fell 20 cents to $1.80. Jamaica Broilers traded at $5.85 with 8,550 shares changing hands for a loss of 20 cents, JMMB Group traded 383,750 shares at $7.95, National Commercial Bank traded 26,130 shares to end lower by $1 to $29, Proven Investments ordinary share traded 225,030 units at 19.5 US cents, up 0.50 cents. Sagicor Group with 17,030 shares changing hands, closed 51 cents down at $12.95, Sagicor Real Estate Fund fell 25 cents to close at $8.50 while trading a mere 865 units, Scotia Group traded 11,272 units to close at $23.75, up 5 cents. Supreme Ventures ended at $3.35 with 92,500 units to be down by 15 cents and Jamaica Money Market Brokers 7.50% preference share traded 75,000 units at $2.