Dolphin Cove, Indies Pharma led gains during Monday’s trading
Dolphin Cove and Indies Pharma Jamaica led double-digit gains on trading of the Jamaica Stock Exchange (JSE) for Monday.
The largest trades of the day, however, were investors repositioning their portfolios in real estate investment trusts (REITS). The trades putatively are to take advantage of reduced Government fees related to real estate transactions.
On the day, market volume amounted to 38,196,425 units valued at over $327 million. The reit, Kingston Properties was the volume leader with 18,697,750 units (48.95per cent) down 9.0 per cent, followed by Sagicor X Fund another reit with 15,509,871 units (40.61per cent) up 0.28 per cent.
Dolphin Cove gained 15 per cent to close at $13.36 followed by Indies up 11 per cent to close at $3.08. Caribbean Flavours and Fragrances led declines down 12 per cent to close at $ 16.95.
The JSE Combined Index declined by 592.21 points (0.15 per cent) to close at 388,558.62. The JSE Index declined by 1,021.46 points (0.26 per cent) to close at 385,981.56.
The JSE All Jamaican Composite Index declined by 1,124.08 points (0.26 per cent) to close at 423,656.74.
The JSE Select Index declined by 24.52 points (0.25 per cent) to close at 9,625.40. The Junior Market Index advanced by 31.38 points (1.02 per cent) to close at 3,094.46. The JSE USD Equities Index declined by 1.20 points (0.68 per cent) to close at 174.88. The JSE Financial Index declined by 0.55 points (0.55 per cent) to close at 98.81.
Overall Market activity resulted from trading in 66 stocks of which 28 advanced, 27 declined and 11 traded firm.