Tuesday, 5th November 2013 | Unlike the previous two trading days when the Jamaica Stock Market rose, Tuesday’s slow trading session ended up with the two main market indices clobbered as Scotia’s drop to $18 and did major damage to the indices. Advancing stocks that were in the ascendancy on Monday loss altitude and ended with only 5 stocks moving up to 9 that fell.
The JSE Index closed at 81,689.24 a drop of 1,178.76. The all Jamaica Index closed at 79,425.62 a big drop of 2,074.03 and the junior market index closed up 1.98 to end at 731.84. In overall market activity, 4.2 million shares changed hands valued at $21,752,717.
Stocks with meaningful activity are Caribbean Cement with 32,500 shares as it closed at $2; Kingston Wharves 20,000 units at $5.55, down 46 cents; Mayberry Investments 546,219 units firm at $1.90; National Commercial Bank 30,667 units at $18.49; Sagicor Investments 342,997 shares firm at $16; Sagicor Life 28,299 units as it traded firm at $8.10; Scotia Group 152,417 units as the price dropped by $3.99 to end at $18; Scotia Investments 211,499 units and the price was down $2.19 at $26.01; Jamaica Money Market Brokers 7.50% preference share 690,289 units traded firm at $2.
NCB Capital Market was the broker that sold the bulk of the Scotia Bank shares that took the price down to $18 with the demand side being thin which allowed for easy penetration on the downside.
Junior market | Trading picked up in the junior market with Consolidated Bakeries trading 125,000 units to close at $1.16; General Accident Insurance traded 25,745 units and ended firm at $1.70; Jamaican Teas traded 601,041 units falling 20 cents to close at $3.60 a 52 weeks low; Lasco Distributors exchanged 215,200 units at $1.50, up 5 cents; Lasco Financial Services chipped in with 808,076 shares trading to close at $1.01; Lasco Manufacturing garnered 127,500 units to close at $1.50 down 12 cents and Paramount Trading had 166,458 units changing hands unchanged at $3.30.
IC bid-offer Indicator | At the end of trading there were bids for 4 stocks that were higher than their last selling prices and 3 stocks on offer lower than the last selling price.
