$296 million in Indies Pharma shares traded on Monday
Created : 8 January 2019
Indies Pharma listed on the Jamaica Stock Exchange last August. (Photo via JSE, Facebook).
A block trade in Indies Pharma worth about $296 million led activities during Monday’s trading on the Jamaica Stock Exchange.
Over 92.7 million units in Indies traded hands on the day for a stock that usually trades about 2 million units a week. Few shareholders hold that many shares outside the founders.
The trades accounted for most of the day's volumes or 97 per cent. Indies closed stable at $3.20 on Monday.
Meanwhile, GWEST Corporation led gains on the day up 15.3 per cent to close at $1.96. It was followed by Jetcon Corporation up 10.6 per cent to close at $3.34. While Proven led declines down 14.2 per cent to close at $23.15.
The JSE Combined Index advanced by 497.25 points (0.13 per cent) to close at 381,716.79.
The JSE Index advanced by 603.84 points (0.16 per cent) to close at 376,703.93. The JSE All Jamaican Composite Index advanced by 662.75 points (0.16 per cent) to close at 413,454.64. The JSE Select Index advanced by 101.95 points (1.06 per cent) to close at 9,732.36. The Junior Market Index declined by 5.34 points (0.16 per cent) to close at 3,246.78. The JSE USD Equities Index advanced by 1.90 points (1.18 per cent) to close at 162.46.
Overall Market activity resulted from trading in 56 stocks of which 22 advanced, 25 declined and 9 traded firm.
Market volume amounted to 95,470,235 units valued at over $334,794,531.26. Indies Pharma Jamaica limited ordinary shares was the volume leader with 92,764,938 units(97.17per cent) followed by Caribbean Producers Jamaica limited with 517,615 units (0.54 per cent) and Victoria Mutual Investments ltd ordinary shares with 334,162 units (0.35per cent).
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