Preference shares fill gap in thin market trading
Trading was so thin that preference shares led gains and losses during Monday's trading on the Jamaica Stock Exchange (JSE).
The total value of trades on the day did not pass $32 million or about one-third of normal daily volumes.
Eppley Preference shares gained 15 per cent to $8.59 with JMMB preference shares leading declines down 13 per cent to $1.21. The JSE combined index has been on the decline since late March when the market lost one-third of its value from January levels.
On Monday, the JSE Combined Index declined by 879.39 points (0.24 per cent) to close at 364,935.56. So too did the JSE Index, which declined by 1,224.08 points (0.33 per cent) to close at 367,168.22.
The JSE All Jamaican Composite Index declined by 1,321.77 points (0.33 per cent) to close at 401,977.80; the JSE Select Index declined by 67.61 points (0.74 per cent) to close at 9,047.03 and the JSE Cross Listed Index declined by 1.07 points (0.95 per cent) to close at 111.03.
The Junior Market Index advanced by 23.08 points (0.92 per cent) to close at 2,520.18.
Also on the day, the JSE USD Equities Index declined by 2.18 points (1.14 per cent) to close at 188.78; the JSE Financial Index declined by 0.70 points (0.72 per cent) to close at 96.29 and the JSE Manufacturing & Distribution Index declined by 0.55 points (0.74 per cent) to close at 73.85.
Overall Market activity resulted from trading in 76 stocks of which 32 advanced, 31 declined and 13 traded firm.
Top traded stocks were Transjamaican highway with 3.9 million units trading, Wigton Windfarm with 1.2 million units and Pulse Investments with 1.1 million units.