New tax measures announced on Thursday, hit the stock market on Friday, particularly, Carreras that had a direct hit with increased taxes on cigarettes.
The price of Carreras stock fell to close at $40 after shedding $3, but it traded as low as $38.01 before recovering partially.
National Commercial Bank lost 50 cents and Scotia Investments fell by $2. At the end of trading 9 stocks recorded gains and 11 suffered losses. Trading activity picked up from the low levels of Thursday as 27 securities traded worth $41,075,686 versus only 15 securities on Thursday. The JSE Market Index lost 637.18 points to 81,881.33, the JSE All Jamaican Composite index fell 712.40 points to close at 90,265.43.
Tax measures bite stock market
March 13, 2015 by