JSE main market dives in early trading

Fall in the prices of $1 for Sagicor Group and $1.91 for Scotia Group with just 200 shares trading led to a sharp drop in the main market indices in early trading on Thursday on the Jamaica Stock Exchange. The junior market moved within just 8 points from a record close.
The all Jamaica Composite Index dropped 2,454.83 points to 186,020.23, the Jamaica Stock Exchange Market Index dived 2,195.05 points to 167,376.95, the Jamaica Stock Exchange combined index lost 1,921.42 points to close at 180,600.30 and the junior market index inched up 11.12 points to 2,470.24.
At 10:45 am, a total of 22 securities traded, resulting in a volume of 633,945 shares changing hands carrying a value of $6,888,082, compared to 337,469 shares changing hands carrying a value of $9,036,840, on Wednesday.
The average number of shares traded amounts to 28,816 units compared to 12,052 on Wednesday. Market activity resulted in 9 stocks falling while the prices of 8 securities rose.
Trading in the junior market has been very low keyed with the exception of Lasco Financial Services with 204,000 units down to $3.07. Stocks with good volumes in the main market are Cable & Wireless with 152,000 at 85 cents, Pan Jamaican Investment Trust 165,986 at $23, Sagicor Group with 41,789 shares at $22.50.