Friday, 19th July 2013 | The last day of the week saw a decline in all the indices and the gains made in the last two days were completely wiped out. More than 9.3 million shares valued at $23.37 million changed hands. Seven million Caribbean Cream stock traded with Stocks & Securities picking up the vast majority for in house purposes and Mayberry Investment doing most of the selling to them.
The advance decline ratio turned decisively negative as 12 stocks declined while only 4 advanced. All the indices moved down sharply with the exception of the junior market index that declined by just over a point and the US dollar index and the cross listed that had no trades.
Main market trades of note | The all Jamaica Index lost 1,105.03 points to close at 87,481.85 and the JSE market index fell by 627.68 to close at 86,550.40.
The sell-off continued in Carreras with 50,000 units valued at $2.64 million trading between $53.50 and the closing price of $52.85. Caribbean Cement, which has been showing more demand, traded 355,000 units at $1 each. Grace Kennedy traded 30,100 shares at a value of $1.69 million with all being traded at $56 while losing $1. Jamaica Money Market Brokers (JMMB) traded 15,314 units between $8.80 and the closing price of $8.02 was down 78 cents from the opening price. Jamaica Producers stock closed at $20 up 50 cents with only 1,200 shares trading. National Commercial Bank traded 129,468 shares valued at $2.52 million and closed at $19.30, down 20 cents. Radio Jamaica traded 186,243 units as investors sold to the buyer with 4.7 million shares that was on the bid at $1.30 and Scotia Group traded 190,226 units valued at $4 million to close at $21.10, the same at the last traded price on Thursday. Scotia Investments fell back by 69 cents to close at $26.01 with 4,565 units trading.
Junior market | 8 stocks in the junior market traded as 2 stocks increased and 5 declined. The dominant trader, Caribbean Cream’s 7 million shares traded at a value of $7.2 million, pulling the price down by 3 cents as the stock closed at $1.03. AMG Packaging traded 221,000 shares valued at $939,265 and gained a cent. Lasco Manufacturing traded 352,190 units and closed at $1.66, Lasco Distributors traded 168,600 to close at $1.50 and Lasco Financial traded 84,350 units to close at $1.40.
Proven Investment Preference shares traded 439,730 units valued at $2.24 million at the same price as the day before of $5.09.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 4 stocks were higher with 1 having the offer that was lower than their last selling price.
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