JSE Investors slam cabinet changes – Tuesday

Investors seem not to like the switch in the Ministry of Finance.

Investors reacted negatively to cabinet changes driving down main market Jamaica Stock Exchange stock prices with just 6 rising and 15 falling.
At the close, the all Jamaican Composite Index lost 1,326.19 points to 322,713.49 and the <strong>JSE Index </strong> shed 1,208.31 points to 294,028.47.
Trading closed with 30 securities changing hands, up from 25 on Monday, leading to 6 advancing, 15 declining and 9 trading firm, in the main and US dollar markets. Securities closing with sizable price changes include, Berger Paints that shed $1.45 to end at $16.50, Caribbean Cement lost $2.50 to close at $38.50, JMMB Group climbing by $1.75 to $26.45, Kingston Wharves dropping $1.50 to $38.50, NCB Financial down $1.15 to $98.70 and lost $1.30 to end at $24.70 and Seprod falling $1.50 to $32.
Main market activity ended with 21,289,061 units valued at $268,573,132 compared to 19,076,584 units valued at $210,708,799 changing hands on Monday.
Jamaica Stock Exchange shares traded 15,104,462 units and accounted for 70.8 percent of the day’s volume, followed by Jamaica Producers Group with 2,394,964 units and 11.25 percent of the volume traded and with 1,013,952 units and Kingston Wharves with 1,025,513 units with 4.82 percent of the day’s trade.
Trading resulted in an average of 760,324 shares valued at $9,591,898 for each security traded, compared to 706,540 shares valued at $7,804,030 on Monday. For the month to date, an average of 661,120 units with an average value at $21,229,208 traded, compared to 655,542 units with an average value at $21,921,023 changing hands on the previous trading day. In contrast, February closed with average of 213,336 units valued at $3,392,475 for each security traded.
Trading in the US dollar market on Tuesday ended with 86,812 units valued at US$17,344 with the market index closing with a gain of 0.85 points to 163.80.

Caribbean Cement drooped $2.50 on Tuesday, the day after cabinet changes were announced.

Proven Investments ordinary share ended trading 86,500 units at 20 US cents and Sterling Investments closed with 312 units trading with a gain of 3 US cents at 13 US cents.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 3 with a lower offers.
For more details of market activities see –  JSE shares grab 71% of main market trades – Tuesday.

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