JSE reverses large early losses – Wednesday

Volumes traded were moderate in trading on the Jamaica Stock Exchange in the main market on Wednesday, but the indices that slipped close to 1,000 points in the first hour of trading recovered to suffer a mild declined at the end.
The market closed with 39 securities changed hands, accounting for 3,600,852 units valued at $56,805,624, in all market segments. The junior market accounted for 952,289 units of the shares traded, valued at $5,433,865. Investors pushed the price of 16 stocks in the overall market up, 12 were pushed down including 9 stocks rising and 5 declining, from the junior market.
The JSE Market Index fell 152.90 points to end at 151,348.17. The all Jamaica Composite Index slipped 171.01 points to close at 168,094.29 and the JSE combined index declined 61.78 points, to close at 162,711.68.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 5 with lower offers.
At the end of market activities, Berger Paints traded 40,000 shares to rise 11 cents and closed at $4.25, Cable & Wireless gained 1 cent and closed at $1.40 after trading 495,304 units, Caribbean Cement traded 77,185 shares as the price dropped $1.99 to close at $26, Carreras traded 373,051 shares but fell by 50 cents, to $63.50. Grace Kennedy gained $1 and closed at $85 with 108,960 shares changing hands, Jamaica Broilers ended at $14.50 while trading 167,381 shares, JMMB Group fell 15 cents in trading 1,081,028 shares to close at $9.85, Mayberry Investments fell 5 cents in trading 16,093 shares at $4.20, National Commercial Bank gained 5 cents while trading 3,740 shares, to close at $39.85. Pan Jamaican Investment did not trade but the bid moved up to $99, a dollar above the last selling price, after the company announced a 5 for 1 stock split, Radio Jamaica traded 154,400 shares to end at $1.10. Sagicor Group ended with 22,092 shares changing hands and lost 10 cents to end at $22.90, Sagicor Real Estate Fund traded 1,500 shares to close at $10 after declining by 10 cents, Salada Foods traded 6,000 shares to end at $8.80 after trading at an intraday low of $7.50. Scotia Group closed at $31 while 6,144 units changed hands, Scotia Investments jumped $1.44 and ended trading 37,876 shares to close at $27.44, Seprod fell $1 to close at $17 with 1,500 units changing hands and Supreme Ventures closed at $5.49 with 27,617 shares changing hands.