JSE recovers some losses – Monday

The Jamaica Stock Exchange recovered some of the grounds lost on Friday but the gains in the indices still was short of the more than 2,000 points fall on Friday.
Monday’s gains still left the market well short of last weeks’ high of 327,520.83 points that the market started off at on opening, for the All Jamaica Index.
At the close of market activity, advancing stocks had the upper hand over declining stocks with 12 rising, 9 declining and 8 traded firm.
At the close, the All Jamaican Composite Index jumped 1,975.96 points to close at 325,401.15 and the JSE Index climbed 1,800.32 points to close at 296,477.22. Market activities resulted in 29 securities trading, compared to 28 on Friday, in the main and US dollar markets.
The market closed with reduced trading levels, as 2,736,291 units valued at over $44,287,155 trading down from 7,330,113 units valued at $68,164,850 changing hands on Friday. On Monday, Victoria Mutual Investments accounted for just over 50 percent of the volume traded amounting to 1,373,388 units followed by Kingston Wharves with 329,678 units or 12.05 percent of the day’s trade.
Stocks with major price changes are, Kingston Wharves falling $1 to $46 and Salada Foods declining $1 to $14.
Trading resulted in an average of 97,725 units valued at an average of $1,581,684 compared to 281,927 units valued at $2,621,725 for each security traded on Friday. The average for the month to date is 321,872 shares with a value of $11,460,634, previously 335,057 shares with a value of $12,075,324. In contrast, April closed with an average of 708,206 shares with a value of $6,395,518 for each security traded.
In the US dollar market, Productivity Business Solution, ordinary share finished trading with a rise of 4 cents, to 62 US cents, with 601 units trading. The JSE USD Equities Index closed unchanged at 172.24.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and just 6 closing with lower offers.
For more details of market activities see – Trading drops for JSE main market – Monday.