Market Bites

• Yesterday’s trading session ended with more losers than winners with 50 stocks trading of which 18 advanced, 20 declined and 12 traded firm.

 

• All major indices experienced marginal declines, except for the Junior Market Index which advanced slightly (+0.64%) to close at 3,242.41.

 

• Interestingly, Indies Pharma dominated trading for the second time this week with over 23.2Mn units changing hands, representing 88.04% of Wednesday’s volumes. Remarkably, the stock traded firm, closing the day at $3.20 per share.

 

• INDIES also dominated trading on Monday with over 92.7Mn units traded or 97.17% of the day’s volumes.  Notably, only a few shareholders hold that many shares outside the founders.

 

• Meanwhile, Junior Market newbie, Fontana saw some action for the first time on its second day of listing, with 162 shares changing hands at a price of $3.17 per share, closing the day at with a 68.6% gain on its IPO price of $1.88.

(Source: JSE, NCBCM Research)