Juniors suffer big early drop

for the second consecutive trading day the juniors stocks got hit hard in early trading on the Jamaica Stock Exchange with the index falling 3 percent, almost the same as on Friday. Trading was moderate after 75 minutes of trading with less than 50 percent of the listed securities being active.
A total of 11 stocks fell and 7 rose as 25 securities have been active with just 3,115,541 units changing hands.
Jamaican Teas fell 38 cents to $6.75 with 2,030,000 as a director sold 2 million units, for cash flow purposes. Lasco Manufacturing traded 87,494 units but fell 20 cents to $4 and helped in a major way to sink the market index but that would have been partially offset by Lasco Distributors with a gain of 13 cents to $7.43 and Caribbean Producers drop of 49 cents to $5 would have also been a big contributor to the fall of the index as well.
The all Jamaica Composite Index gained 83.07 points to 174,928.23, the JSE Market Index rose 74.32 points to 157,461.34, the JSE combined index fell 494.37 points to 167,623.10 and the junior market index dropped 62.47 points to 2,120.16. On Friday the junior index was down 64.27 in early trading to 2,176.36 points.