Market gives up all of Friday’s gains

In Tuesday’s trading on the Jamaica Stock Exchange the prices of 7 stocks rose and 6 declined as 25 securities traded resulting in 3,716,481 shares trading valued at $33,409,503.
Main Market| 6 companies in the main market declined as the indices fell with the JSE Market Index having slipped by 387.98 points to 70,095.51 and the JSE All Jamaican Composite index fell 433.82 points to close at 77,087.72, in the process along Monday losses, both indices gave back all the gains enjoyed on Friday in just two trading sessions.
Gains| Stocks recording gains at the end of trading in the main market are Jamaica Broilers while gaining 2 cents in trading 55,620 shares to close at $4.57, Kingston Wharves with 13,256 shares to close with a gain of 5 cents at $5.10, National Commercial Bank with 1,658,183 units changing hands as the price gained $1 to close at $18.50, Pan Jamaican Investment with 10,000 shares gained 45 cents to close at $48.50, Scotia Investments 1,667 units with a 10 cents increase to close at $23.10 and Supreme Ventures with 3,000 shares as it gained 5 cents to close at $1.95.
Firm| There were only 5 stocks in the main market and one in the US dollar market to close without a price change with Caribbean Cement trading 3,080 shares in closing at $2.40, Desnoes & Geddes 1,666 shares to close at $4.25, Gleaner with 53,000 units to close at $1.10, Jamaica Money Market Brokers 4,169 ordinary shares in closing at $6.70, Kingston Properties 52,680 shares to close at $4 and Proven Investments with 10,000 ordinary shares, closed at US$0.18.
Declines| The number of stocks that declined in the main market are Cable & Wireless with 521,644 shares while losing 2 cents to end at 27 cents, Carreras with 27,672 to close down 45 cents at $33.01 as the stock traded ex-dividend today with the dividend payment of $1.75 payable on June 26, Hardware & Lumber traded 26,029 units, 50 lower at $10, Sagicor Group traded 5,000 shares for 11 cents less at $9 and Scotia Group closed with a 70 cents loss to $19.30 with 34,138 shares changing hands.
Junior Market| The JSE Junior Market Index inched up by 0.11 points to close at 712.04 as 6 securities traded with 1 advancing and 1 declining.
Gains| Lasco Distributors with 246,510 shares traded with a one cent gain to close at $1.19 was the sole stock to record a gain at the end of trading in the junior market on Tuesday.
Firm Trades| The 4 stocks in the junior market that traded to close at the same price as the day before are Access Financial with 500 units to close at $13.50, Consolidated Bakeries 270,000 shares to end at 90 cents, General Accident 190,221 units to close at $1.50 and Lasco Financial with 51,800 shares in closing at $1.15.
Declines| The only stock declining in the junior market at the end of trading is Lasco Manufacturing with 155,610 shares and closed a cent lower at $1.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with the bid higher than the last selling price and 6 stocks with offers that were lower.