Barita tops market with 28.5m trade

Barita Investments traded 28.5 million shares valued at $2.25 billion on the Jamaica Stock Exchange main market on Monday on a day when the market lost more grounds as it continues its short term correction.
The big Barita trade follows four days last week when it traded more than 2 million shares crossed the exchange on each occasion and well above the normal daily trading levels. On October 7th a total of 6.1 million shares traded, followed by 8.1 million shares the following day, to be followed by 2.67 million units on the 9th and 2 million on the 11th for a total of more than 18.8 million
The Jamaica Stock Exchange main market suffered another decline with a higher volume and significantly higher value than on Friday as the main market goes through a mild correction of 5 percent.  Trading ended with 36 securities changing hands in the main and US dollar markets with 13 stocks advancing, 13 declining and 10 stocks trading firm. The market closed with the JSE All Jamaican Composite Index dropping 2,638.63 points to close at 550,155.79. The JSE Index declined 2,375.23 points to 500,852.68 and the JSE Financial Index lost 0.66 points to close at 136.68.
Main market activity ended with 32 securities trading resulting in 41,631,061 units valued at $2,360,959,252, in contrast to 11,554,366 units valued at $237,158,383 from 37 securities trading on Friday.
The big Barita Investments trade accounted for 68 percent of total volume, followed by Wigton Windfarm with 6 million shares for 14 percent of the market’s trade and recently listed QWI Investments with 1.8 million units accounting for 4 percent of the day’s volume. Stocks trading more than a million units were Jamaica Producers with 1.2 million shares, Radio Jamaica with 1.2 million stock units and Sagicor Select Funds with 1.3 million units.
The Market closed with an average of 1,300,971 units valued at $73,779,977 for each security traded, in contrast to 312,280 units for an average of $6,409,686 on Friday. The average volume and value for the month to date amounts to 992,746 shares for $15,672,223 for each security traded and previously 964,884 shares at $9,843,232 for each stock traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 securities ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.5 with the main market ending at 17.1 times 2019 current year’s earnings.
In main market activity, Barita lost 82 cents to close at $78.98 as 28,491,102 shares crossed the exchange, Eppley Caribbean Property Fund closed $1 higher, after exchanging 1,761 shares, to close at $40, Eppley traded 14,790 shares gaining 85 cents to settle at $16, Grace Kennedy dived $3.50 exchanging 172,807 shares to settle at $66. Jamaica Broilers slid 99 cents in swapping 49,937 shares to end at $34, Jamaica Producers closed $1.39 lower at $21.20 after 1,175,660 shares changed hands. Jamaica Stock Exchange slid 84 cents in closing at $28.15 with 32,266 shares traded, PanJam Investment lost $1.10 and ended at $101, after 61,151 shares crossed the exchange. Portland JSX gained 50 cents to settle at $9 with an exchange of 7,318 shares, Pulse Investments climbed 75 cents trading 183,873 shares to end at a 52 weeks’ closing high of $4.55. Sagicor Group traded 95,638 shares in gaining $1.10 to settle at $69, Seprod added $1 to end at $53 with an exchange of 14,062 shares and Supreme Ventures gained 40 cents, closing at $27.40 with 17,778 shares crossing the exchange.
Trading in the US dollar market ended with 122,125 units valued at $38,361 and the market index dipped 1.32 points to close at 195.15. Proven Investments gained 0.4 of a US cent to close at 26.90 US cents with 113,428 shares changing hands, Sterling Investments fell 0.3 of a cent and exchanged 4,555 shares, to close at 3 US cents, JMMB Group 5.5% preference share traded 2,000 units to end at US$2 and JMMB Group 5.75% preference share traded 2,142 units to end at US$2.

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