Big drop for JSE Main Market as Wigton dominates

Wigton Windfarm with an exchange with more than 561 million shares and falling stocks dominated trading on the Jamaica Stock Exchange, Main Market on Thursday, with the All Jamaican Composite Index diving 5,613.72 points to 370,561.10 as the JSE Main Index dropped 5,393.37 points to end at 330,935.39 and the JSE Financial Index shed 0.93 points to lock up trading at 70.68, following a big 712 percent surge in the volume of stocks traded rising following a 406 percent jumped in the value over Wednesday.
Trading ended with 59 securities on Wednesday and Thursday, resulting in prices of 18 stocks rising, 23 declining and 18 ending unchanged as the prices of two stocks closed at yearly highs and two at yearly lows, with 138 Student Living falling to $3.02 and Sagicor Group declining to $40, with Eppley ending at $42 and JMMMB Group 7.15% closing at $3.40.
The market closed with exchange of 566,948,248 shares at $597,471,743 compared with 69,861,889 units at $117,997,722 on Wednesday.
Trading averaged 9,609,292 shares at $10,126,640 compared to 1,184,100 units at $1,999,961 on Wednesday and month to date, an average of 2,322,239 units at $3,095,210, in comparison with 492,724 units at $1,329,872 on the previous day and February that closed with an average of 385,143 units at $3,418,046.
Wigton Windfarm led trading with 561.55 million shares for 99 percent of total volume followed by Transjamaican Highway with 1.49 million units for 0.3 percent of the day’s trade and Sagicor Select Financial Fund with 1.09 million units for 0.2 percent of the day’s trade.
The Main Market ended trading with an average PE Ratio of 14. 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 seven stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, AS Bryden sank 50 cents to $40.50 with an exchange of 1,057 shares, Barita Investments popped 39 cents in closing at $70.39 after 3,250 units crossed the market, Eppley rallied $2.66 to end at a 52 weeks’ high of $42 in an exchange of 3,321 shares. First Rock Real Estate increased 99 cents to close at $9.99 with investors dealing in 8,491 stock units, GraceKennedy climbed 54 cents and ended at $75.24, with 38,383 shares crossing the exchange, Guardian Holdings shed $1 to $368 in switching ownership of 61 stock units. Massy Holdings dropped $3.45 and ended at $90 after investors traded 21,790 stocks, MPC Caribbean Clean Energy rose $23.38 to end at $109.48 in trading 70 units, 138 Student Living lost 48 cents in closing at a 52 weeks’ low of $3.02, with 35,000 stocks changing hands. Pan Jamaica skidded $5.71 to close at $46.09 with investors trading 61,187 units, Proven Investments gained $2.28 to end at $23.95, with 535 shares crossing the market, Pulse Investments advanced 33 cents to close at $2.12 as investors exchanged 176,862 stock units. Sagicor Group fell $1 to close at $40 after an exchange of 552,299 shares, Scotia Group dipped $1.15 and ended at $45.80 with investors transferring 25,668 units and Supreme Ventures declined 31 cents to end at $26 after an exchange of 274,846 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.