Heavy gains and losses mark Monday’s trading Loop Jamaica

Black Immigrant Daily News

The Jamaica Stock Exchange (JSE) lost 1.5 per cent on the day which equated to its heaviest loss since March.

Heavy gains and losses marked Monday’s trading.

Top gainers were Medical Disposables and Supplies up 20 per cent to $6.90, Margaritaville Turks up 14 per cent to US$0.12 and Ciboney up 13 per cent to $0.51.

Meanwhile, the day’s top decliners were Transjamaican Highway preference shares down 25 per cent to $1.47 with 26.5 million units trading hands. Followed by CAC preference shares down 15 per cent to $0.90, followed by Blue Power Group down 13 per cent to $3.03.

The combined market declined 1.49 per cent, which was the biggest market decline since March 16, 2022, when the market lost 2.5 per cent in a single day.

The market continues to reel from increased interest rates with the benchmark rate at 6.0 per cent or more than tenfold higher than a year ago. The rates are geared at tackling the highest inflation in a decade. These factors are slowly pulling down stocks, many times even when a company releases stellar results.

Looking closer at the index movements: The JSE Index declined by 5,339.22 points (1.47 per cent) to close at 357,194.84 points and the volume traded amounted to 32,269,822 valued at $90,087,830.39.

The Junior Market Index advanced by 22.70 points (0.55 per cent) to close at 4,123.51 points and the volume traded amounted to 8,102,411 valued at $24,915,028.45. The JSE Combined Index declined by 4,788.06 points (1.27 per cent) to close at 371,061.04 points and the volume traded amounted to 40,372,233 valued at $115,002,858.84. The JSE USD Equities Index advanced by 4.49 points (2.24 per cent) to close at 204.80 points and the volume traded amounted to 388,269 valued at $14,533.62.

Overall market activity resulted from trading in 109 stocks of which 49 advanced, 44 declined and 16 traded firm. The JA$ Market Volume (excluding blocks) amounted to 40,372,233 units valued at $115,002,858.84. The US$ Market Volume (excluding blocks) amounted to 388,269 units valued at $14,533.62.

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