Friday, 18th October 2013 | The second week of big declines ended on Friday with another day of slippage for the two main market indices. Reports from the brokerage community have confirmed to IC Insider that Lascelles Superannuation Fund is liquidating the equities they hold for some noted companies that has caused prices to decline. It was tough week as the Jamaica stock market declined just about every day, a continuation from the sharp decline of the week before,
In a very slow day on the Jamaica Stock Market, trading took place for 14,927,180 shares valued at $131.3 million as the market indices saw another day of decline in the Main Market index of 268.90 to close at 81,806.11, while the all Jamaica index which closed at 79,631.26 fell by 473.13. The junior market has held up well in the past weeks but saw the index inching down by 0.92 to 753.84. There was trading in stocks of 26 companies, with 6 rising and 9 falling and 14 remained unchanged.
Trading resulted in Carreras exchanging 12,025 at $40, up 50 cents; Desnoes & Geddes 86,166 to close up 50 cents at $5; Grace Kennedy 106,549 units but fell to $55.65, off by $1.36; Jamaica Broilers had strong volume of 8,017,062 but at a depressed prices to close at $4.17, up 7 cents; Jamaica Producers 106,100 units resulted in a 25 cents price cut to close at $18.25; Mayberry Investments 22,804 units resulted in the price closing firm at $2.50; National Commercial Bank had a good volume of 3,994,816 units but ended firm at $18; Pan Jamaican Investment Trust had only 16,350 units to close at $48.01, down 10 cents; Scotia Group 505,270 units closing firm at $20; Scotia Investment traded 2,502, lost 49 cents to close at $26.01; Seprod 323,036 units to close firm at $13 and Proven Investments 8% preference 1,083,600 units firm at $5.09.
Junior Market | Access Financial Services had a small volume of 2,258 but closed at $8.40 up 12 cents; Caribbean Cream still struggling to move above the listing price of the IPO earlier in the year had 38,140 units closing at $1.02, up 2 cents; newly listed Caribbean Flavours exchanged 258,997 closed firm at $2.70; Lasco Distributors had 25,320 units to close firm at $1.50; Lasco Financial Services 157,900 units resulted in a closing price of $1.13, a decline of 5 cents; and Lasco Manufacturing lost ground with 90,700 units in closing at $1.45 down 5 cents.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed slight improvement in market sentiment over Thursday with the bids for 3 stocks being higher and 5 stocks with offers lower than their last selling price.
