Big drop for JSE USD market

Prices fell on the Jamaica Stock Exchange US dollar market ended on Thursday and pulled the market index down sharply following a 12 percent decline in the volume of stocks changing hands as the value dropped 53 percent compared with Wednesday, resulting in eight securities trading, compared to five on Wednesday with one rising, four declining and three ending unchanged.
The JSE US Denominated Equities Index dropped 10.15 points to end at 219.13.
Overall, 384,296 shares were traded for US$23,978 down from 437,499 units at US$50,829 on Wednesday.
Trading averaged 48,037 shares at US$2,997 compared to 87,500 shares at US$10,166 on Wednesday, with a month to date average of 34,657 shares at US$3,207 compared with 33,608 units at US$3,224 on the previous day. December ended with an average of 39,679 units for US$1,494.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows none ended with a bid higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Real Estate USD share shed 0.2 of a cent to close at 7 US cents while exchanging 283,417 shares, Productive Business Solutions dipped 14 cents to end at US$1.55 with a transfer of 229 stock units, Proven Investments popped 0.95 of one cent in closing at 20 US cents after a transfer of 11,632 stocks. Sterling Investments ended at 1.95 US cents with 13,576 units crossing the exchange, Sygnus Credit Investments USD share slipped 0.3 of a cent to 9.7 US cents after a transfer of 3,026 stocks, Sygnus Real Estate Finance USD share ended at 11 US cents after exchanging 1,353 units and Transjamaican Highway declined 0.01 of a cent in closing at 0.95 of one US cent in an exchange of 71,000 stock units.
In the preference segment, JMMB Group 6% remained at US$1 with the swapping of 63 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.