Palace closed at a new high of $1,300 on Friday.
Investors were kinder to stocks trading on the Jamaica Stock Exchange and ended up cutting the market indices by less than 1,000 points compared to drop of more than 4,700 points on Thursday, but Palace Amusement jumped $200 to $1,300.
At the close, the all Jamaican Composite Index lost 741.12 points to end at 318,766.87 and the JSE Index dipped 675.24 points to 290,432.66.
Trading closed with 27 securities changing hands, down from 29 on Thursday, leading to 11 advancing, 10 declining and 6 trading firm, in the main and US dollar markets. Securities closing with sizable price changes include, Caribbean Cement losing 91 cents to end at $31.70, Grace Kennedy falling $1 to $51, Sagicor Group declining 90 cents to $35.60 and Scotia Group that lost $2 to $52.
Main market activity ended with 3,641,373 units valued at over $64,163,969 changing hands, versus 14,969,349 units valued at $264,028,466 on Thursday.
Carreras closed with 1,251,675 units and accounted for 34.37 percent of traded shares, Sagicor Group with 537,833 units amounted to 14.77 percent of trading and Berger Paints with 14.77 percent of trades with 501,659 units.
Trading results in an average of 140,053 shares valued at $1,194,310 for each security traded, compared to 516,184 shares valued at $9,104,430 on Thursday. For the month to date, an average of 627,970 units with an average value at 10,417,767 traded, compared to 668,629 units with an average value at 11,259,206 traded on the previous trading day. In contrast, February closed with average of only 213,336 units valued at $3,392,475 for each security traded.
Trading in the US dollar market on Friday ended with Proven Investments concluded trading at 22 US cents with 1,340 units changing hands valued at US$295, as the market index rose 2.19 points to close at 170.04.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 3 with a lower offer.
For more details of market activities see – Investor pays $1,300 for Palace shares – Friday – Friday.
