Big fall for JSE Main Market

Stock rising and falling was almost evenly matched at the close of market activity on the Main Market of the Jamaica Stock Exchange on Wednesday, following a 10 percent slide in the volume of stocks traded with a 14 percent lower value than on Tuesday and a significant fall in the market index, with 58 securities trading compared to 62 on Tuesday, with 23 rising, 24 declining and 11 ending unchanged.
The All Jamaican Composite Index lost 9,718.27 points to settle at 394,631.15, the JSE Main Index fell 9,089.39 points to settle at 347,149.59 and the JSE Financial Index lost 3.14 points to settle at 82.78.
A total of 7,402,150 shares were exchanged for $57,740,739 versus 8,252,097 units at $67,129,016 on Tuesday. Trading averages 127,623 units at $995,530 versus 133,098 shares at $1,082,726 on Tuesday and month to date, an average of 130,452 units at $1,040,581. December closed with an average of 604,110 units at $4,072,598.
Sagicor Select Financial Fund led trading with 2.53 million shares for 34.2 percent of total volume followed by Wigton Windfarm with 1.31 million units for 17.7 percent of the day’s trade and Transjamaican Highway with 948,703 units for 12.8 percent market share.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.4 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 and August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments shed $2.02 in closing at $97 with an exchange of 4,107 shares, Berger Paints lost 75 cents to end at $9.85 in trading 50 stock units, Eppley rose 95 cents to $34.95, with 90 stocks crossing the market. Eppley Caribbean Property Fund advanced $2.78 to close at $50 while exchanging 25 units, First Rock Real Estate rallied 80 cents in ending at $13.80 in an exchange of 29,271 shares, GraceKennedy dipped 40 cents to $82.60 with a transfer of 12,276 stock units. Guardian Holdings fell $44 to $525 and finished with 43,028 stocks changing hands, Jamaica Stock Exchange declined 69 cents to end at $15.30 after exchanging 22,960 units, Kingston Properties dropped 75 cents to close at $7, with 65,635 stock units clearing the market. Kingston Wharves dropped $2.33 in closing at $33.67, with 2,640 shares changing hands, Massy Holdings climbed 45 cents to $79.95 as 74,874 units were traded, Mayberry Investments fell 70 cents to end at $8 closing with 142,781 stocks passing through the market. NCB Financial lost $1.79 in closing at $78.21, with 78,538 units crossing the market, Palace Amusement popped $1 to close at a 52 weeks’ high of $1600 as 267 stock units passed through the market, Portland JSX declined $1.55 to close at $9 as investors exchanged 100 stocks. Proven Investments gained 50 cents to end at $27.50 after exchanging 1,122 shares, Sagicor Group dipped $4 in closing at $51 in switching ownership of 2,788 stocks, Sagicor Real Estate Fund shed 86 cents to end at $8.67 as 11,700 stock units crossing the exchange. Scotia Group dipped $1.49 to close at $33 in exchanging 11,506 shares and Stanley Motta increased $1.23 after ending at $5.25 with a transfer of 244 units.
In the preference segment, Jamaica Public Service 7% advanced $2.73 to close at a 52 weeks’ high of $3.37 with the swapping of 30,000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.