Feb 18: Jamaican stocks still on a losing streak
The market rout was unabated on Wednesday, with the Jamaica Stock Exchange Combined Index shedding another 972 points or 0.57 per cent to at 168,580.74 points in its third straight day of losses this week.
Some 45 stocks traded, 19 of which lost value, while 16 appreciated, and 10 traded flat, meaning their prices were unchanged from the previous day.
Market activity was more robust at 4.5 million units traded, nearly doubling Wednesday’s trades, but the overall value of those trades was far lower at $40 million, relative to $46 million the previous day.
The top three market movers on Thursday, which together dominated with 61 per cent of all activity, were: JMMB Group 7.50%, which picked up six cents to close up at $1.06; Proven Investments 8%, which held firmly at $5; and Jamaica Broilers which slipped by eight cents to close down at $14.08.
The combined index includes the main, junior and US dollar equities markets. On Thursday, the JSE Index declined by 913.83 points to close at 157,322.61 points; the Junior Market Index also fell by 12.27 points to close at 2,240.63 points, while the JSE USD Equities Index closed up by 0.09 points at 146.33 points.