Jamaica Stock Exchange Main Market gave back some of the solid gains enjoyed on Tuesday as declining stocks outpaced declining ones and the volume and value of stocks trading rose.
At the close, the JSE All Jamaican Composite Index declined by 2,732.71 points to 418,091.63, the JSE Market Index dropped 2,473.80 points to 381,213.32 and the JSE Financial Index lost 0.29 points to 100.58.
The market closed with 49 securities changing hands in the Main and US dollar markets with prices of 16 stocks advancing, 21 declining and 12 securities trading firm. The JSE Main Market activity ended with 44 securities accounting for 18,437,961 units valued at $158,788,476, in contrast to 17,326,841 units valued at $105,645,502 from 45 securities on Tuesday.
Wigton Windfarm led trading with 5.8 million shares for 31.4 percent of total volume followed by Trans Jamaican Highway with 5.1 million units for 27.7 percent of the day’s trade and Carreras with 1.1 million units for 5.8 percent market share. Sagicor Select Financial Fund with 1.06 million shares was the only other company trading over a million units.
The Market closed with an average of 419,045 units at $3,608,829 for each security traded, in contrast to 385,041 units valued at an average of $2,347,678 on Tuesday. The average volume and value for the month to date amount to 361,176 units valued at $2,930,932 for each security changing hands, compared to 357,768 units with an average value of $2,888,684. 
Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows twelve stocks ending with bids higher than their last selling prices and eight stocks closing with lower offers. The PE ratio of the market ended at 14.6, while the Main Market ended at 14.9 times 2020/21 earnings.
In the Main Market trading, Barita Investments lost 60 cents to close at $50.40, after trading 14,026 stock units, Caribbean Cement fell by $1 to $51, with an exchange of 418,010 shares, First Rock Capital climbed $2.40 to $14.75 after 8,014 units crossed the exchange. Grace Kennedy closed 61 cents lower at $57.99, with 365,867 shares changing hands, Jamaica Broilers gained 40 cents after swapping 186,450 shares to end at $26.50, Jamaica Stock Exchange picked up 40 cents to settle at $22.90, after exchanging 13,248 stock units. Kingston Wharves closed 99 cents higher at $54.99, with a transfer of 10,560 stock units, 
NCB Financial Group slipped 50 cents to end at $146.99, after swapping 318,361 shares, Palace Amusement advanced $100 to end at $1,300 while trading 80 units. PanJam Investment closed at $75.01, with a loss of 74 cents after exchanging 34,676 stock units, Proven Investments fell 99 cents to finish at $35, in swapping 26,455 stock units, Sagicor Real Estate Fund ended 84 cents lower at $7.10, with 105,300 shares changing hands. Salada Foods declined $1.50 to $28.50 after 15,492 stock units changed hands, Seprod lost 44 cents to close at $53.56, in trading 51,316 stock units, Stanley Motta finished at $4.70, having lost 35 cents in swapping 12,264 units. Supreme Ventures ended at $15.70, with a rise of 70 cents in exchanging 645,967 shares and Sygnus Credit Investments gained 79 cents with 38,427 stock units crossing the exchange and closed at $16.99.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Market activity resulted in five securities changing hands, with three declining and two remained unchanged. The volume of shares traded was 253,911 units with a value of US$25,811, in contrast to 159,533 units for US$23,544 from three securities changing hands on Monday.
The market closed with seventeen securities trading with two rising, five declining and eleven holding firm. The volume of stocks passing through the market amounted to 1,221,907 shares valued at $1, $7,269,983 compared to 188,658 shares for $1,302,922 on Tuesday.
MPC Caribbean Clean Energy closed 10 cents lower at $1, with 930,714 shares crossing the market and Trinidad Cement lost 5 cents to finish at $1.90 in transferring 28,596 stock units.
138 Student Living boasted an eye-popping turnaround in its profit before interest and taxes of 262 percent for the quarter and 588 percent for the six months to March 2020. The company recorded a profit before tax and finance cost of $137 million for the March quarter and $396 million for the six months. Profit after tax ended at $87 million for the March 2020 quarter versus a loss of $45 million in the prior year’s second quarter, for the half-year, profit after tax climbed to $270 million compared to a loss of $44 million in the 2019 period.
Earnings per share came out at 21 cents for the quarter and 65 cents for the six months and should end the fiscal year higher, but profits from the continuing business will be far less than the half-year numbers indicate.
Investors traded 32 securities, resulting in an exchange of 4,137,638 units valued at $10,997,880 compared to 4,259,300 units valued at $14,475,328 from 35 securities on Friday. The average PE ratio of the Junior Market ended at 9.2 based on 2020-21 earnings.
At the close of the market, Cargo Handlers dropped 50 cents to $6.05 with 6,438 units traded, Caribbean Cream closed 6 cents higher at $2.75 with an exchange of 61,233 stock units, Caribbean Producers traded 1,418,225 shares and fell 12 cents to end at $2.40. Derrimon Trading jumped 22 cents in swapping of 28,295 shares to settle at $2.72, Dolphin Cove shed 23 cents to close at $7 with 5,709 units changing hands, Elite Diagnostic gained 11 cents and exchanged 92,470 shares to settle at $3.40. Express Catering inched 1 cent higher to finish at $3.52 with 33,230 units traded, Fontana dropped 30 cents to $5.60 with 220,601 units crossing the market, General Accident leaped 49 cents exchanging 30,026 stock units to close at $6.50. GWest lost 3 cents in the trading of 1,160 shares to close at 87 cents, Honey Bun declined by 37 cents to $5.08 with 131,812 shares changing hands, iCreate closed 3 cents lower at 52 cents with 87,177 stock units traded. Indies Pharma picked up 2 cents and exchanged 13,245 shares to settle at $2.22, Iron Rock Insurance ended the day 10 cents down, at $3.80 with an exchange of 10,000 shares, 
Jamaican Teas climbed 6 cents to settle at $4.35 with 158,546 units crossing the market. Limners and Bards dipped 7 cents to $1.75 with 103,494 shares traded, Lumber Depot swapped 136,889 shares to finish at $1.14 after gaining 2cents, Medical Disposables jumped 30 cents to $7.30 with an exchange of 21,814 units. Paramount Trading added 1 cent to finish at $2 after trading 12,300 shares and Stationery and Office Supplies closed 25 cents higher at $6.25, with 5,809 stock units crossing the exchange.
At the close, the JSE All Jamaican Composite Index advanced by 6,794.20 points to 420,824.34, the JSE Market Index climbed 6,322.58 points to 383,687.12 and the JSE Financial Index gained 1.80 points to 100.87.
Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
NCB Financial Group slipped to $147.49, with a loss of 51 cents with 321,990 shares changing hands, 138 Student Living closed 31 cents lower at $6.69, after exchanging 408 units, Palace Amusement declined by $100 to end at $1,200, with a transfer of just 10 units. Proven Investments closed 51 cents lower at $35.99, transferring 12,181 stock units, Sagicor Group rose 80 cents to $45.80, with 36,265 stock units changing hands, Salada Foods advanced by $4 to $30 trading only one unit. Scotia Group fell by $2.21 to $44.79, in transferring 40,568 stock units, Seprod gained $1 to end at $54, in exchanging 36,296 stock units and Supreme Ventures ended 95 cents lower at $15, with 572,803 shares crossing the exchange.
Market activity ended, with the price of one stock rising, one declining and one remaining unchanged. Trading resulted in the exchange of 159,533 units with a value of US$23,544, in contrast to 57,581 units for US$12,255 from seven securities changing hands on Friday.
At the close, the T&T Composite Index gained 0.22 points to 1,283.31. The All T&T Index declined by 2.16 points to 1,725.88, while the Cross Listed Index rose 0.36 points to close at 113.65.
Firm Traders│ Ansa Merchant Bank ended at $37 trading 26 units, First Caribbean International exchanged 15,500 shares at $7.50, NCB Financial closed at $7.50 with 72,800 stock units changing hands. Scotiabank ended with 281 units crossing the exchange at $54.99, Trinidad and Tobago NGL held firm at $16 with 1,000 stock units changing hands, Unilever Caribbean closed at $16.99 after exchanging 1,000 stock units and West Indian Tobacco remained unchanged at $31.20 with 1,892 stock units crossing the market.
In the Main Market, Proven Investments dropped out of the TOP 10 and replaced by Victoria Mutual Investments.
The new subsidiary, Trinidad based MotorOne Insurance made a small loss of $2 million in the quarter, an indication that not much contribution to profit is expected from it for the current year, it could add to 2021 profit for the group. Total assets of the company grew substantially since March last year from $7.5 billion to $12 billion in the current year, with liabilities rising by $3.5 billion.
One company that has seen an uptick in business, Jamaican Teas, had to lay on new work shifts and extra production days to keep up with export demand.
The PE ratio for Junior Market Top 10 stocks averages a mere 5.2 with or 55 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at 8.7 or 62 percent of the PE of the overall market.
