Dumped stocks: 8 firms dip 10 to 36 per cent on JSE this week

Dumped stocks: 8 firms dip 10 to 36 percent on JSE this week:

Cable & Wireless Jamaica led gains for the week of trading on the Jamaica Stock Exchange (JSE) while eight stocks tumbled by double-digit percentages.

Over the course of five trading days, CWJ increased nine per cent to close at $1.09 which allowed it to lead gains for the week. Salada gained 13 per cent on Friday alone, but made a net gain of two per cent over the five days of undulating performance. 

The declines were heavy and without the release of financials, which indicates that investors sold off positions to get cash. The declines occurred amid the release of three initial public offers during the week.

ISP Finance led declines, down 36 per cent; followed by tTech, down 27 per cent; Berger Paints, down 20 per cent; Pulse, down 18 per cent; Main Event, down 18 per cent; Key Insurance, down 14 per cent; JMMB, down 12 per cent; C2W Music, down 11 per cent; an Ciboney, down 11 per cent. These dumped stocks will offer discounts for buyers in the week ahead. 

The JSE Combined Index advanced by 88.03 points ( 0.03 per cent) to close at 283,417.81. The JSE Index advanced by 550.84 points ( 0.20 per cent) to close at 277,159.21. The JSE All Jamaican Composite Index advanced by 604.57 points (0.20 per cent) to close at 304,198.46. The JSE Select Index declined by 84.61 points (1.00 per cent) to close at 8,410.21. The Junior Market Index declined by 38.51 points (1.45 per cent) to close at 2,618.68. The JSE USD Equities Index closed at 172.89

Overall Market activity resulted from trading in 30 stocks of which 13 advanced, 13 declined and four traded firm.

Market volume amounted to 1,293,956 units valued at over $26,457,111.74. Lasco Financial Services Limited was the volume leader with 438,833 units (33.91per cent) followed by NCB FINANCIAL GROUP LIMITED with 197,918 units (15.30per cent) and STATIONERY AND OFFICE SUPPLIES LIMITED with 130,150 units (10.06per cent) . more

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