JSE dipping towards March 2020 levels Loop Jamaica

The content originally appeared on: News Americas Now

Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News

The Jamaica Stock Exchange (JSE) dipped 1.2 per cent on Monday, resulting in its returning to levels during March 2020 when the coronavirus was declared a pandemic.

It’s not the lowest level, but the index continues to sink, closing at 357,000 points or lower than the level on March 20, 2020. The index bottomed five days later on March 25, 2020, at 337,506 points.

The overall market continues to fight off the downward pressures from central bank interest rate hikes now at seven per cent or 14 times higher than the 0.5 per cent up to September 2021.

Despite the market slide, a number of stocks made double-digit gains on Monday.

Portland increased 17 per cent to $10.50, JMMB preference shares up 15 per cent to $1.74, Express Catering up 12 per cent to $5.25, and Paramount Trading up 12 per cent to $1.79.

The top declining stocks were Kingston Wharves down 12 per cent to $30.82, tTech down 12 per cent to $2.30, and another JMMB preference share down 11 per cent to $2.59.

Meanwhile, JSE Index declined by 4,673.08 points (1.34 per cent) to close at 343,507.55 points and the volume traded amounted to 10,386,916 valued at $54,644,130.22.

The Junior Market Index advanced by 3.07 points (0.08 per cent) to close at 3,903.85 points and the volume traded amounted to 5,698,340 valued at $13,425,978.28.

The JSE Combined Index declined by 4,330.84 points (1.20 per cent) to close at 356,276.94 points and the volume traded amounted to 16,085,256 valued at $68,070,108.50.

The JSE All Jamaican Composite Index declined by 5,923.29 points (1.50 per cent) to close at 390,120.58 points and the volume traded amounted to 10,221,265 valued at $41,671,399.51.

The JSE Select Index declined by 69.49 points (0.80 per cent) to close at 8,571.17 points and the volume traded amounted to 557,162 valued at $14,033,692.86.

The JSE USD Equities Index declined by 2.03 points (0.87 per cent) to close at 231.78 points and the volume traded amounted to 534,157 valued at $64,760.90.

The JSE Cross-Listed Index declined by 0.34 points (0.58 per cent) to close at 57.92 points and the volume traded amounted to 160,887 valued at $12,942,639.31.

Also on the day, the JSE Financial Index declined by 0.43 points (0.52 per cent) to close at 82.48 points and the volume traded amounted to 2,064,059 valued at $26,573,893.01.

The JSE Manufacturing & Distribution Index declined by 1.54 points (1.59 per cent) to close at 95.54 points and the volume traded amounted to 4,302,304 valued at $17,430,393.04.

Overall market activity resulted from trading in 115 stocks of which 40 advanced, 61 declined and 14 traded firm.

The JA$ Market Volume (excluding blocks) amounted to 16,085,256 units valued at $68,070,108.50.

The US$ Market Volume (excluding blocks) amounted to 534,157 units valued at $64,760.90.

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