Tuesday, 22nd October 2013 | On a very slow day on the Jamaica Stock Market, trading took place for 5,766,814 shares valued at $21,261,844 as most of the market indices enjoyed a rare ‘up’ day with the Main Market index gaining 514.60 to close at 82,320.71, while the all Jamaica index which closed at 80,536.70 fell by 905.44. The junior market, which has held up well in the past weeks saw the index inching up by 0.73 to 754.57. There was trading in stocks of 26 companies, with 11 rising and only 3 falling and 15 remained unchanged.
Main Market | Trading in the main market was subdued on the first trading day after the holiday close on Monday. In trading Carreras exchanged 49,207 units to close firm at $40; Desnoes & Geddes, which closed at $5 on Friday, closed today at $4.50 as 40,000 units changed hands; Jamaica Money Market Brokers traded 523,000 to close firm at $8.50; National Commercial Bank had only 9,457 units as the price closed up 50 cents at $18.50 but the stock is still weak. Salada Foods traded 13,588 units unchanged at $8.50; Scotia Group only exchanged 30,651 units to close at $20.50 an increase of 50 cents; Supreme Ventures had a big day with 1,395,754 units to close at $2.60 off by a cent and Proven Investments 8% preference, put in 743,000 units at $5.09.
Junior Market | Trading in the junior market saw Access Financial changing ownership of 56,579 units as the price closed firm at $8.40; Blue Power traded 24,918 units and closed at $9.50 for an increase of 22 cents; Caribbean Cream saw 414,165 units changing hands to close firm at $1.02; Caribbean Producers put in a big volume of 2,289,981 as the price closed firm at $2.08 as General Accident Insurance swapped just 14,400 shares at $1.61 followed by Lasco Distributors 31,800 units which closed firm at $1.50. Lasco Manufacturing had 31,400 units that traded firm at the close at $1.45 and Paramount Trading put through 37,810 unit to close at $3.30 up 25 cents.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed slight deterioration in market sentiment over Friday’s reading with bids for 3 stocks being higher and 7 stocks with offers lower than their last selling price. Interestingly, the junior market had 6 stocks with offers that were lower than the last selling price and no bids that were higher.
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