Junior market slips

The Junior market slipped on Tuesday and it appears the May bug is hitting as some investors take profit and go away, but the reading of this market suggest that the rally may not be over so soon. Trading was fairly broad based on the Junior market with 12 securities trading, ending with 1,821,705 units changing hands valued at $5,472,000. The JSE Junior Market Index declined 13.58 points to close at 883.22, with the price of just 2 stocks advancing and 7 declining with Cargo Handlers closing at 52 weeks’ high.
At the close of the market, there were 5 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 2 securities closing with no bids to buy and 6 securities that had no stocks being offered for sale.
Access Financial traded 22,300 shares at $17.02 after falling 98 cents, Blue Power closed with 18,000 shares trading at $9.80, Cargo Handlers finished with 83,555 units to close with a gain of 20 cents to a new all-time high of $22.28, Caribbean Cream with 113,591 shares closed at $1.05 after losing 15 cents, Caribbean Producers with 233,489 shares closed at $3 to shed 7 cents, Dolphin Cove had just 300 shares trading to close at $10.75, for a fall of 27 cents, Derrimon Trading Company closed with 12,000 units trading at $2.08, up 4 cents as the company reported improved results for the march quarter with Net profit of $20.5 million compared with profit of $11.2 million in 2014. General Accident Insurance traded 212,352 units to close at $2 after shedding 18 cents in response to poor first quarter results. Knutsford Express had only 1,000 shares changing hands at $6, Lasco Distributors ended with 1,024,375 shares trading at $1.55, for a 10 cents loss, Lasco Financial traded just 93,857 units at $1.30 with a loss of 1 cent and Lasco Manufacturing traded 6,886 units unchanged at $1.40.