Big drop for JSE Main market

The Jamaica Stock Exchange Main Market ended trading with a significant decline on Friday following a marginal decline in the volume of stocks traded and a 36 percent fall in the value of stocks changing hands compared to Thursday, and ended with trading in 57 securities compared to 58 on Thursday, leading to rising and declining stock accounting for 22 stocks each and 13 ending unchanged.
Trading ended with two stocks in the preference segment hitting new 52 weeks’ highs and three ordinary shares hitting 52 weeks’ lows.
A total of 6,585,063 shares were traded for $45,380,317, down from 6,869,971 units at $71,142,724 on Thursday.
Trading averaged 115,527 shares at $796,146, down from 118,448 units at $1,226,599 on Thursday and for the month to date, an average of 168,975 units at $1,941,407 versus 173,529 units at $2,038,988 on the previous day. January closed with an average of 205,236 units at $1,805,558.
Wigton Windfarm led trading with 2.42 million shares for 36.8 percent of total volume, followed by Transjamaican Highway with 2.06 million units for 31.3 percent of the day’s trade and Pulse Investments with 308,500 units for 4.7 percent market share.
The All Jamaican Composite Index plunged 6,402.06 points to end at 372,524.43, some 6 percent lower than at the start of the year, the JSE Main Index dropped 4,529.20 points to 330,245.04, to be down 5.9 percent for the year to date and the JSE Financial Index dipped 1.40 points to close at 78.21 with a loss of 7.3 percent year to date.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments declined $2.47, ending at a 52 weeks’ low of $81.01, exchanging 41,677 shares, Berger Paints advanced $2.52 to $10.03 after a transfer of 186 stocks, Caribbean Cement fell $1.23 to end at $56.77 with the swapping of 7,685 stock units. Eppley popped 41 cents to $37.90 after trading five units, GraceKennedy shed $2.60 in closing at $76.40 with 41,276 stocks changing hands, Guardian Holdings rallied $7 in closing at $513 in switching ownership of 17,101 shares. Jamaica Broilers rose $1.93 to $33.90 with investors transferring 119,956 stock units, JMMB Group lost $1.50 to $30.80 after 48,007 units passed through the market, Mayberry Investments gained 54 cents in ending at $8.54 after an exchange of 35,199 shares. MPC Caribbean Clean Energy declined $6 to close at a 52 weeks’ low of $64 with the swapping of 2,948 stock units, Palace Amusement dropped $179 in closing at $2,700 in an exchange of 671 units, Proven Investments rose $1.65 to end at $29.20 in trading 1,138 stocks. Sagicor Group dipped $1.50 to $51.50 with 26,466 units changing hands, Salada Foods lost 6 cents to end at a 52 weeks’ low of $3.89 after trading 13,991 shares, Scotia Group shed $1.05 to close at $32.95 as investors exchanged 40,352 stock units, Seprod fell $1.50 in ending at $65.50 after trading 35,293 shares. Stanley Motta gained 90 cents to end at $5.40 with 76,722 stocks clearing the market and Supreme Ventures lost 60 cents in ending at $25.50 after an exchange of 44,939 units.
In the preference segment, Eppley 5% preference share popped 94 cents to close at $22.94 after crossing the exchange with 11 shares. Jamaica Public Service 7% gained 50 cents to settle at a 52 weeks’ high of $8.50 in exchanging 546 stocks, JMMBG7.25C – 2025 climbed 39 cents to close at a 52 weeks’ high of $4.33 after an exchange of 694 shares, JMMB Group 7.15% – 2028 popped 49 cents in closing at $3 in switching ownership of one stock unit and 138 Student Living preference share rallied $5.99 to $77.99 with the swapping of 38 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.