Big gains for JSE Main Market Index

Rising and falling JSE Main Market stocks were almost equal in number on the first trading day on the new-year when market activity closed on Thursday.
The market’s move resulted in a big bounce in the market index, bringing the gains in the last four days to 9,573.73 points. Trading closed with 38 securities changing hands in the Main and US dollar market, with 13 advancing, 12 declining and the prices of 13 stocks remaining unchanged. The JSE Main Market activity ended, with 34 securities accounting for 39,225,030 units valued  $114,615,971 in contrast to 29,187,937 units valued at $201,537,949, from 43 securities on Tuesday.
At the close, JSE All Jamaican Composite Index jumped 3,368.77 points to close at 563,222.03. The JSE Market Index climbed 2,949.65 points to 512,866.09 and the JSE Financial Index gained 0.78 points to close at 138.33.
Wigton Windfarm dominated trading, with 25.9 million shares and 66 percent of the units traded, followed by Sagicor Select – Financial Fund with 5.5 million units for 14 percent of the day’s trade and Carreras rounding out the top three with 3.34 million shares for 8.5 percent of market share.
The market closed, with an average of 1,153,677 units valued at an average of $3,371,058 for each security traded, in contrast to 788,863 units valued at an average of $5,446,972 on Tuesday. The market closed out December, with an average of 595,143 units for $9,344,514 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending, with bids higher than their last selling prices and two closing, with lower offers. The PE ratio of the market ended at 19.7, with the Main Market ending at 19.1 times the current year’s earnings.
In the prime market activity, Barita Investments dropped $1.48 to $73.51, with 38,799 shares changing hands, Caribbean Cement lost 50 cents to end at $84 in trading of 11,559 stock units. Eppley gained 90 cents to close at $15 while exchanging 1,153 stock units, Eppley Caribbean Property Fund dipped $2 to close at $40 with an exchange of 7,939 units. Jamaica Producers declined by $1.50 to end at $27, with 31,783 stock units changing hands. JMMB Group fell 55 cents to end at $46.95, with an exchange of 35,221 units. Mayberry Investments lost 55 cents to end at $9, in trading 10,795 stock units Mayberry Jamaican Equities shed 86 cents to end at $13.15, trading 51,577 shares, PanJam Investment gained $1 to end at $102, with 239,379 units crossing the exchange. Proven Investments gained $1.89 in exchanging 4,211 units to close at $49.89, Pulse Investments climbed $2.25 with 65,000 shares changing hands, to end at a 52 weeks’ high of $7.50, after trading at an all-time high of $6.20. Sagicor Real Estate Fund lost 25 cents in trading 3,150 shares at $10.25 and Scotia Group rose 50 cents to close at $56 with an exchange of 185,416 stock units.
Trading in the US dollar market closed with 83,015 units valued at $26,886. The market index advanced 0.92 points to close at 227.15. Proven Investments fell 2.9 cents in exchanging 64,466 units to close at 31.9 US cents, Sterling Investments rose 0.04 cent in trading 1,600 units to close at 2.9 US cents. Sygnus Credit Investments rose 0.01 cent in exchanging 4,500 stock units to close at a 52 weeks’ high of 15.1 US cents and in the preference segment, JMMB Group 6.0% preference share traded 2,190 units at US$1.01.

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