SUPREME Ventures Ltd and Mayberry Investments (MIL) made double-digit price gains over 30 days within a stock market declining twice as fast.

It meant that investors in SVL and MIL made gains of 13.4 per cent and 10.6 per cent respectively during October, according to the just released Jamaica Stock Exchange (JSE) monthly statistics report. These gains, although lower than in early parts of the year, are still above than the double-digit returns under

the hyped unregulated investment schemes which eventually collapsed.

However, both stocks were the only equities which posted price gains above 10 per cent during October on the JSE which contains 38 active stocks. Jamaica Broilers recorded the next best price gain up 6.4 per cent in

the month.

These gains were tempered by four stocks which lost more than 10 per cent in price over the same period including Caribbean Cement down 23.8 per cent, Pegasus Hotel down 20.8 per cent, Berger Paints Jamaica down 18.8 per cent and Desnoes & Geddes down 13.2 per cent.

Smaller declines affected most other JSE stocks which resulted in the JSE market capitalisation losing $1.8 billion in October to close at $546.1 billion, which slashed 0.3 per cent from the index month over month.

The JSE index stood at 83,352 points at October 29, 2010 which was down 0.31 per cent and 3.46 per cent when compared with the previous month and same period last year respectively.

The JSE Index is recovering from its worst decline in 14 years, from the 2008 high of 112,100 points in May. The October 2010 market capitalisation when compared with March 2008 of $873 billion, represents a decline equivalent to three times the US$1.27 billion Government received as a Stand-by Arrangement from the IMF this year.

JSE general manager Marlene Street-Forrest previously blamed the 2008 market decline on the global meltdown, high interest rates and its crippling spill-over effect on company earnings in 2008. In 2009, however, stocks were cheap relative to their improved earnings.

Interestingly, in June, the JSE market capitalisation gained $1.5 billion over the 30-day period to close at $565.9 billion following the first full month after the security force operations in West Kingston disrupted business in the corporate area.

The two-day unrest in May sparked by the confrontation between the security forces and gunmen loyal to Chirstopher ‘Dudus’ Coke, resulted in 73 civilian deaths and over $100 million in losses to manufacturing businesses in downtown Kingston, according to Jamaica Manufacturers’ Association head Omar Azan.

The JSE’s office, despite being closed to the public, allowed brokers to trade electronically (outside the JSE).