Monday, 17th June 2013 | Today was give back day for some of the gains generated last week as advancing stocks just barely outnumbered declining stocks with 2.24 million units traded for a valued of $18.8 million trading.
The main indices gave up all that they gained on Friday and more by the end of trading with blue chip stocks shedding the most in value. Carreras closed at $58 having lost $1 and so did NCB that lost $0.80 to close at $20.20 with 7,598 shares trading. JMMB lost 83 cents to close at $8.03 while trading 18,400 shares. Grace traded 114,298 shares as the stock closed at $58 and $1 down and Pan Jamaican Trust lost on $1.40 to $55.60 with 5,676 shares changing hands. Sagicor Investments closed up 39 cent at $16.50 as 7,096 shares traded.
Investors looking for yields picked up 250,089 JMMB 8.75 preference shares at $3.20 and 321,000 Proven 8 percent preference shares at $5.09.
Index falls | The all Jamaica Index closed down 719.52 points and ended at 90,814.63 points. The main market index is down 408.70 points and closed at 88,440.97.
Juniors down | The junior market index gained 15.14 points to close at 744.52 with only 5 stocks trading in this segment of the market. Blue Power fresh from 121 percent jump in profits for the year ended April posted a 5 cents increase as it traded 132,900 shares up to $8.70. Lasco Distributors closed up $1.39 at $13.90 as 116,000 of the company’s shares traded. Lasco Financial Services traded 270,440 units and closed at $10 up 10 cents on the day. Lasco Manufacturing did not trade but had a bid that was higher than the last traded price. Access did not trade but is poised to go higher as there has been little or no selling in the stock to meet demand but had a bid that is higher than the last traded price.
Advances positive | The advance decline ratio was far less positive today than on Friday with the previous trading day as 10 stocks advanced and 8 declining compared to Friday when 17 stocks advanced and 4 declined.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 7 stocks were higher with 1 stock that had an offer that was lower than their last selling price. The Indicator points to more market gains ahead but it is most pronounced in the junior market, which has the higher number of bids over last traded price than the main market.
