Trading soars as the market tumbles

The Junior Market of the Jamaica Stock Exchange had a huge uptick in volume trading on Monday, that did not help the market, as prices mostly fell, with the market index tumbling 84.68 points to close at 2,233.23, the lowest level since September 2016 as nine stocks closed at 52 weeks’ lows.
The market has lost 33 percent of its value since the start of the year and 39 percent since peaking in August 2019. Trading activities concluded with 37 securities changing hands, resulting in an exchange of 20,701,190 units valued at $69,475,355 compared to 4,544,381 units valued at $10,187,594 on Friday. At the close of market activities, the prices of 8 securities advanced, 22 declined and seven remained unchanged, with the average market PE ratio ending at just 10.7 times 2019 earnings.
Trading ended with an average of 559,492 units at $1,877,712 for each security traded in contrast to 133,658 units for an average of $299,635 on Friday. The average volume and value for the month to date amounts to 196,013 units valued at $553,434 and previously 152,909 units valued at $296,388. In contrast, February closed with an average of 167,673 units valued at $488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows five stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, Access Financial lost $1.25 in trading 6,440 shares at $21.50, AMG Packaging fell 4 cents to $1.61 with an exchange of 17,000 units, Blue Power gained 69 cents to end at $3.69 with 2,000 units changing hands. Caribbean Assurance Brokers lost 8 cents to end at $1.92 in swapping 102,431 units, Caribbean Cream gained 20 cents, with 3,607 shares crossing the exchange at $3, Caribbean Flavours closed 33 cents higher at $10.50, trading 948 stock units, Consolidated Bakeries lost 6 cents in swapping 516,814 shares to close at $1.45. Derrimon Trading shed 10 cents in trading of 159,167 units at to close at a 52 weeks’ low of $1.60, Dolphin Cove slipped 20 cents to $7.80 with 32,520 shares changing hands, Elite Diagnostic ended trading with a whopping 14,594,247 units and dropped 30 cents to $3.50. Everything Fresh shed 5 cents to end at 80 cents with 82,615 units exchanged, Express Catering lost 50 cents in trading 54,751 shares to close at a 52 weeks’ low of $3.20, Fontana closed 3 cents higher at $4.74, with 403,961 stock units crossing the exchange. GWest Corporation ended market activity exchanging 284,300 shares to close at a 52 weeks’ low of 60 cents after falling 22 cents, Honey Bun lost 13 cents in trading 28,475 units at $5.12, Indies Pharma dipped 2 cents to $1.97 in trading of 311,610 shares. Jamaican Teas closed 3 cents higher at $5, with 59,795 stock units changing hands, Jetcon Corporation exchanged 34,000 shares and declined by 8 cents to settle at a 52 weeks’ low of $1.17, Key Insurance dropped 40 cents to settle at a 52 weeks’ low of $2 with 11,450 stock units changing hands. Knutsford Express closed trading of 1,521 units and gained 30 cents to end at $8.30, Lasco Distributors declined 70 cents in trading of 44,659 units at a 52 weeks’ low of $1.90, Lasco Financial slipped 10 cents to $2.20 with 259,724 units traded. Lasco Manufacturing closed 8 cents lower in trading of 129,335 units at $2.93, Limners and Bards fell 25 cents in the exchange of 85,170 units at $2, Lumber Depot ended with a loss of 1 cent at $1.27 with 99,777 stock units changing hands. MailPac added 3 cents exchanging 79,795 shares at $1.38, Main Event declined by 17 cents to settle at a 52 weeks’ low of $4, with 97,399 shares traded, Paramount Trading lost 17 cents in swapping 40,442 units at $1.80. SSL Venture closed 2 cents higher at $1.02, with 2,000 stock units trading and Stationery and Office Supplies dived $1.10 to settle at a 52 weeks’ low of $5.90 with 14,773 shares crossing the exchange.

Prices of securities trading for the day are those at which the last trade took place.

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