JSE Combined Index hits levels last seen in March 2020 Loop Jamaica

The content originally appeared on: Jamaica News Loop News

The JSE Combined Index experienced its third consecutive trading day decline, marking a 1.6 per cent year-to-date decrease.

Market activity on Tuesday involved trading in 112 stocks, with 36 showing gains, 51 experiencing declines, and 25 maintaining stability.

Notable gainers included Blue Power Group, soaring by 17 per cent to $3.82, and Caribbean Assurance Brokers, rising by 14 per cent to $2.80. However, KLE Group plummeted by 16.5 per cent to $1.92, Jetcon fell by 12 per cent to $0.87, and CAC2000 declined by 12 per cent to $3.86.

The JSE Combined Index dropped by 1,210.14 points or 0.36 per cent, closing at 332,553.00. Similarly, the JSE Main Index decreased by 1,104.98 points or 0.34 per cent, ending at 319,557.13 points. The total volume traded reached 8,127,453, valued at $68,683,584.65. Meanwhile, the Junior Market Index also saw a decline, down by 21.65 points or 0.57 per cent, closing at 3,762.08 points.

Since May, the index has fallen below 335,500 points, the lowest since the pandemic-induced drop in March 2020. The health crisis has since transitioned into an economic and now an inflationary crisis. To mitigate this, authorities have raised interest rates to their highest level in 15 years, aiming to temper consumption. Consequently, the fixed-income market now offers double-digit returns, surpassing the attractiveness of stock market returns.