Wednesday, 21 August 2013 | Prices on both the main & junior markets took a dive today as declining stocks barely outnumbered advancers once more, with 7 advancing and 8 declining. In the process, the market took back more than it gained on Monday and Tuesday. The number of stocks trading amounted to 5.2 million valued at just $15.4 million as General Accident, Cable and Wireless and Jamaican Teas traded relatively large volumes.
The All Jamaican index fell by 814.28 to close at 85,179.80, the main market index was down by 462.79 points to 85,214.09 and the junior market down 12.12 point to close at 781.99.
Trading was moderate in the main market with Cable & Wireless trading 1.4 million units as it closed at 18 cents up 3 cents from the last price on Tuesday. Caribbean Cement scored another 52 weeks high as the stock hit $2.65 at the end of trading, a gain of 43 cents as 147,400 units traded. Carreras is holding around the $49 region as 23,931 units traded firm at $49.10, Grace Kennedy traded 40,255 units at $56.99, up 4 cents. National Commercial Bank traded 53 311 units at the closing price of $18.5, off a cent, Sagicor Life Jamaica had 93,000 units trading while losing 60 cents in closing at $8.40, Scotia Group 16,500 firm at $21.01. Scotia Investments traded 8,000 units and gained 14 cents to close at $26.15. However, the stock traded in Trinidad at the equivalent of $32.70, a huge differential. JMMB, which did not trade, is selling in Trinidad at $9 equivalent compared with $8 in Jamaica.
Junior market | General Accident with 1.87 million shares valued at $3.47 million was the big mover in the junior market as the stock traded firm at $1.85. The market was characterised by selling as 6 junior market stocks fell in price with none advancing. Blue Power Group traded 3,300 units at $9.20, slipping a cent from the last traded price on Tuesday. Caribbean Cream traded 99,207 units at $1.05, down 2 cents, Caribbean Producers traded firm at $2.03 with 162,100 shares, Jamaican Teas lost 40 cents on trading 977,993 units valued at $3.9 million, Lasco Distributors traded at $1.45 at the close down a cent with 92,000 shares, Lasco Financial Services closed at $1.50 off 2 cents while trading 28,272 units and Lasco Manufacturing closed at $1.60 with 57,000 units as the stock closed off a cent.
Eppley closed with a bid of $400 for 423 shares but has not traded since listing on July 29.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 6 stocks were higher with 1 stocks having offers lower than their last selling price.
