Thursday, 19th September 2013 | The advance decline ratio continues to be biased towards declining stocks in today’s trading. In the end, there were 8 stocks that declined to 10 that fell. 9,505,609 units traded valued at $24,622,649, including 1.5 million preference shares with a value of $7.5 million. The main market index fell by 389.16 to close at 84,436.77, the all Jamaica Index was down by 684.73 to 84,259.89 and the junior market was off 1.71 to 763.35.
The biggest movers were Grace Kennedy that gained back $2.48 from yesterday’s fall to close at $56 with 6,330 units trading and Carreras traded up 99 cents $48.99 with 39,187 units.
Cable & Wireless had a decent volume of 5,127,215 units trading up 1 cent t0 close at 18 cents; Jamaica Broilers 322,396 units resulting in a 25 cents drop in the price to $4.75; Jamaica Money Market exchanged 162,815 units to close at $7.50 down 50 cents; National Commercial Bank Jamaica exchanged just 37,500 units at $18.67 for a 2 cents increase; Sagicor Investments Jamaica contributed 10,812 units firm at $16.55; Sagicor Life saw their price moving down with 40,000 to $8.22 off 78 cents at the close and Scotia Group Jamaica lost 18 cents when the price closed at $21.09 with 40,000 units.
Jamaica Money Market Brokers 8.50% traded 13600 units at $3.51, a decrease of 19 cents; Jamaica Money Market Brokers 8.75% traded 152,973 units firm at $3 and Proven Investments 8% had 1,372,000 shares exchanged firm at $5.09.
Access Financial Services 8,046 units resulted in a closing price of $8.28; AMG Packaging had 63,763 units exchanging hands firm at $4; Caribbean Producers had trading in 157,984 units as the price closed at $2.10; Lasco Distributors chipped in with 20,604 units as the price closed firm at $1.50; Lasco Financial Services had another large trade on Thursday as 1,176,747 changed hands, closing firm at $1.25.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 3 stocks being higher and 3 stocks with offers lower than their last selling price. This indicator has weakened and combined with the advance decline ratio for the past few weeks is pointing to a fluid market that requires some catalyst to move it decisively.
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