Big bounce for JSE Main Market

Trading activity dropped sharply on the Jamaica Stock Exchange Main Market on Thursday, but the market put on a spirited rally, with the volume of stocks traded declining 76 percent and the value 97 percent lower than on Wednesday, following trading in 54 securities compared with 53 on Wednesday and ended with prices of 23 stocks rising, 17 declining and 14 ending unchanged.
A total of 12,874,056 shares were traded for $35,782,868 down sharply compared with 54,394,461 units at $1,087,515,284 previously.
Trading averaged 238,408 shares at $662,646 compared to 1,026,311 units at $20,519,156 on the previous day. Trading month to date, averages 304,788 stocks at $2,674,683 down from 308,824 units at $2,797,036 on the previous day. Trading in October averaged 214,410 units at $1,325,907.
Sagicor Select Financial Fund led trading with 9.74 million shares for 75.6 percent of total volume and was followed by Transjamaican Highway with 1.46 million units for 11.4 percent of the day’s trade and Carreras with 323,017 units for 2.5 percent market share.
The All Jamaican Composite Index rallied 3,739.69 points to 349,902.27, the JSE Main Index surged 4,376.18 points to finish at 314,817.16 and the JSE Financial Index popped 0.76 points to 68.47.
The Main Market ended trading with an average PE Ratio of 12.9. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints skidded 40 cents to close at $6.70 with an exchange of 102,044 units, Caribbean Cement gained $1.05 to end at $55, with 552 stocks crossing the market, Eppley Caribbean Property Fund lost $2.25 and ended at $36.25 with traders dealing in 100 shares. First Rock Real Estate declined $1.20 in closing at $6.80 while exchanging 172 stock units, GraceKennedy fell $1.50 to end at $75.50 after a transfer of 18,277 shares, Guardian Holdings dipped $1 in closing at $411 as investors exchanged 119 stock units. Jamaica Broilers popped 88 cents to $34.88 after trading 30,156 stocks, JMMB Group increased 90 cents to end at $26.40 after an exchange of 226,028 units, Key Insurance shed 25 cents and ended at $2.25 after 2,037 stocks passed through the market. Kingston Properties climbed 26 cents to close at $6.99 in an exchange of 4,130 units, Massy Holdings rose $4.70 to $90, with 4,339 shares clearing the market, Mayberry Investments dropped 93 cents to end at $7.22 with stakeholders exchanging 8,400 stock units. NCB Financial rallied $1 in closing at $69 in trading 40,922 shares, Pan Jamaica advanced $4.46 and ended at $50.46, with 8,417 stock units crossing the exchange, Proven Investments fell $1.22 to close at $22.51 in switching ownership of 133 units. Scotia Group popped 52 cents to $33.93 after an exchange of 11,642 stocks, Sygnus Credit Investments declined 50 cents to close at $11.50, with 10,050 units crossing the market and Sygnus Real Estate Finance lost $1.79 and ended at $8.90 with a transfer of 8,800 stocks.
In the preference segment, Eppley 7.50% preference share climbed 50 cents in closing at $6, with 1,445 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.