JSE off rocky start – Wednesday

Jamaica stocks started trading on Wednesday with a rocky start with the main market indices continuing to make sharp declines, while the junior market jumped, with Lasco Distributors price climbing to $6.55 from $6.05 and Caribbean Cream trading at $5.50, as investors respond to the company’s first quarter results, with an increase of 81 percent in profits.
The all Jamaica Composite Index dropped 1,216.89 points to 174,460.57, the Jamaica Stock Exchange Market Index dived 1,088.11 points to 157,040.54, the Jamaica Stock Exchange combined index declined 572.41 point to close at 167,075.96 points andthe junior market index gained 42.58 points to 2,086.66.
The session had low volumes trading overall after 75 minutes of the market’s opening resulting in 24 securities changing hands, accounting for a volume of just 418,777 shares 5 stocks gained and 12 declined, including a fall of 95 cents in Grace Kennedy, 80 cents in Jamaica Producers, $1.40 fall in National Commercial Bank and $2.80 in Scotia Investments price. The average number of shares traded amounts to 17,449 units.
Tuesday’s report which was unavoidable absent due to technical issues.