JSE majors in big fall on Wednesday

The main market indices of the Jamaica Stock Exchange got clobbered on Wednesday with the all Jamaica Composite Index dropping 2,404.09 points before the close of trading and ended down by with a smaller loss of 1,423.88 at 185,219.39.
The JSE Market Index had dived 2,146.93 points ahead of closing, but clawed back some of the losses, to finish at 166,660.85, having lost 1,273.21 points and the JSE combined index which plunged 2,038.87 points ahead of the close, lost 1,267.83 points to end at 178,971.13 and held a 13 percent for the year to date.
At the close 3,225,271 units valued at $32,690,159 changed hands, compared to 11,005,276 units valued at $189,009,513 changing hands on Tuesday. The junior market accounted for 1,741,347 units trading valued at $9,759,413 of the stocks traded.
The average trade for the day in the main market ended at 59,357 units, compared to an average for the month to date of 121,849 units. On Tuesday, an average of 241,975 units traded with the average for the month to date being 184,341.
The market closed with 38 securities trading as the prices of 16 gained while 13 declined in the overall market, including 6 stocks rising and 5 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 9 stocks with bids higher than their last selling prices and 4 with a lower offer.
In market activity, Barita Investments traded 29,759 shares at $4.65, Cable & Wireless lost 1 cent and closed at 97 cents with 59,590 units trading, Caribbean Cement traded 5,150 shares and rose 50 cents to close at $32, Carreras rose 2 cents to close at $66 with 4,350 units changing hands. Trading in 1834 Investments ended with 4,716 shares changing hands, the price rose 2 cents to close at $1.20, Grace Kennedy closed with 118,515 shares changing hands at $41.55, Jamaica Broilers closed at $14.50 after shedding 1 cent, with 686,211 shares switching owners. Jamaica Producers fell 40 cents to $8 with 78,660 units trading, JMMB Group lost 1 cent in trading 2,665 units to close at $13.99. Mayberry Investments ended with 11,500 shares trading, to close at $3.50 for a fall of 35 cents, Mayberry reported third quarter results after the market closed, with net profit of $59 million or 4 cents per share and $320 million or 27 cents per share year to date. Net asset value amounts to $6.77, inclusive of appreciation in the share value of associated companies. National Commercial Bank traded 21,523 shares to close with a gain of $1 at $44, trading in 138 Student Living 169,160 shares changing hands at $4.70, Pan Jamaican Investments lost 25 cents and closed at $23 after trading 70,432 shares, Portland JSX traded 96,160 units with the price rising by 20 cents to $11.10. Sagicor Group fell $1 with 6,000 shares changing hands and closed at $22.60, Sagicor Real Estate Fund traded 80,169 shares to close at $10.20, Scotia Group lost 95 cents and closed at $30.05 with 19,662 shares changing hands and Scotia Investments lost $2.90 as 2,820 units changed hands to close with at $31.