The main Jamaica Stock Exchange index Tuesday fell more than 1,300 hundred points yesterday as the market attempted to digest unconfirmed reports of a possible deal involving Trinidad-based RBTT.

Analysts said there were 'whispers' of a possible share sale, but sources out of Port-of-Spain denied a transaction had occurred.

Similar rumours have surfaced in the past.

FirstCaribbean, another regional stock, rose by one cent to $126.11. RBTT did not trade yesterday.

The Jamaican stock market fell 1.28 per cent to 100,536.15 points on trades of Guardian Holdings Limited a shareholder in RBTT - whose stock fell by $30 or 10 per cent to $260 on sales of 4,000 units. Its market cap also dropped to $52.4 billion at the close of the Kingston market.

Other big losers of 16 declining stocks Tuesday were Lascelles, down $9.38 to close at $270.62, First Jamaica Investment, down $1.34 to $35.16 and Trinidad Cement which fell by $4 to $76.

Analysts immediately tagged Lascelles as a possible buy to take advantage of its depressed price.

Trading volumes of 3.7 million units were thin, representing nine per cent of listed shares. The transactions involving 30 stocks overall were valued at $25.9 million.

business@gleanerjm.com