Durrant Pate/Contributor 

Jamaica’s domestic stock market indices experienced a third consecutive week of broad-based declines, suggesting continued bearish investor sentiment. 

The main Jamaica Stock Exchange (JSE) Combined Index fell by 0.81 per cent over the period. Market breadth was neutral with 51 of the 121 actively traded securities declining, 51 advancing, and 13 closing flat, as several large-cap stocks continued to contribute to the decline. 

Market activity weakened with total trading volume decreasing by 14.3 per cent and total value traded contracting by 42.1 per cent. Leading the volume charts was Transjamaican Highway Limited with 13.18 million units or 21.86 per cent of total traded volume. 

Week-over-week all major indices declined and the JSE USD Equities Index (-5.99 per cent) and the JSE Manufacturing & Distribution Index (-1.13 per cent) fell the most. The sharp decline in the JSE USD Equities Index was due mainly to the 18.4 per cent drop in AS Bryden Holdings’ USD ordinary shares.

Its low liquidity and wide bid-ask spread contributed to the price decline, when 8,290 shares were sold at US$0.16 per share. Meanwhile, the M&D Index decline was primarily led by a 13.2 per cent drop in Lasco Manufacturing, a 5.0 per cent decline in Seprod and a 6.3 per cent fall in Jamaica Broilers Group.

Notably, there were no material news or disclosures during the week to justify these price movements, suggesting the declines may have been largely driven by broader market sentiment.