MCDONALD

As the end of summer approaches, the stock market continues to fluctuate with thin trading volumes, but analysts believe that there are positive signs.

"Towards the end of this month, there should be an uptick," First Global Financial Service's assistant vice-president for economic analysis and research, Dean McDonald, told Wednesday Business.

"There appears to be a renewed activity in the market. The flat period over the last couple days may be a blip in the expected upward movement," said McDonald.

On Monday, all three indices suffered a decline as they reversed the slight rally on the JSE last week.

The main index shed 49.32 points to close at 83,037.92 points, while the JSE All-Jamaican Composite Index lost 352.00 points and closed at 80,258.39 points. The Jamaica Select Index declined by 6.82 points, to close at 2,193.79 points.

Yesterday, however, the market sent positive signs to investors as all three indices were in an upward tick.

The main JSE index gained 308.69 to close at 83,346.62 points while the JSE All-Jamaican Composite Index advanced by 625.53 points to close the trading day at 80,883.93 points. The Jamaica Select Index advanced by 17.13 points (0.78 per cent) to close at 2,210.93 points.

According to McDonald: "Institutional clients are seriously looking at the markets ... hunting for bargains and once they do that, the herd mentality will set in and people will begin to show renewed interest."