Big jump in JSE Main Market – Thursday

Trading on the Main Market of the Jamaica Stock Exchange resulted in a surge in the two primary market indices on Thursday as rising stocks edged out decliners following a rise in volume and values of shares changing hands.
At the close, JSE All Jamaican Composite Index surged 4,382.42 points to 557,132.41, the JSE Market Index jumped 4,008.03 points to close at 507,066.04 and the JSE Financial Index rose 1.15 points higher to 137.40.
The market closed, with 42 securities changing hands in the Main and US dollar markets, with 14 advancing, 13 declining and the prices of 13 stocks closed unchanged. JSE Main Market activity ended, with 38 securities accounting for 22,307,168 units amounting to $166,924,750 in contrast to 9,385,975 units valued $145,118,400, on Wednesday, from 38 securities.
Sagicor Select – Manufacturing and Distribution fund dominated trading, with 11.3 million shares and 50.5 percent of volumes traded followed by Sagicor Select – Financial Fund with 4 million units for 18 percent of the day’s trade and Wigton Windfarm with 2.3 million shares for 10 percent market share.
The market closed, with an average of 587,031 units at $4,392,757 for each security traded, in contrast to 246,999 units valued at an average of $3,818,905 on Wednesday. The average volume and value for the month to date amounts to 458,316 units for $9,936,556 and previously, an average of 448,856 units for $10,376,356 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending, with bids higher than their last selling prices and one closed, with a lower offer. The PE ratio of the market ended at 19.2, with the Main Market ending at 18.7 times the current year’s earnings.
In the premier market, Barita Investments lost 35 cents to settle at $71.65, with 26,059 shares changing hands, Caribbean Cement gained 50 cents to end at $77.50 with a transfer of 142,549 stock units, Carreras gained 39 cents to end at $8.49, in trading 47,830 stock units. Eppley Caribbean Property gained $1.05 to end at $31.05, after exchanging 1,960 shares, Grace Kennedy lost $3.50 to end at $64.50, trading 149,638 shares, Jamaica Broilers rose by $2 to settle at $41, with 657,939 shares changing hands. Jamaica Producers fell $1.50 to end at $24.96 with 21,461 stock units trading, JMMB Group gained 53 cents to settle at $47.03 with 339,830 shares changing hands, Kingston Wharves gained 70 cents to settle at $62.50, in trading 515 units. Mayberry Investments added 40 cents to end at $9.60, trading 30,800 shares, Mayberry Jamaican Equities rose $2 to end at $14, with 372,169 stock units trading, MPC Caribbean gained $2 to end at $202 with an exchange of 116 stock units, NCB Financial Group advanced by $2.40 to close at $202.40, in swapping 228,153 shares. PanJam Investment lost 99 cents to end at $101, with 21,070 shares crossing the exchange. Sagicor Group dropped $2 to settle at $68 with 219,174 shares changing hands, Scotia Group lost 80 cents to settle at $54.70, in transferring 30,971 shares. Seprod dipped $2 trading 22,600 stock units to close at $48, Supreme Ventures gained 50 cents to end at $25.50, while exchanging 97,424 shares, Sygnus Credit Investments put on $1.13 to close at $25.13, with 47,758 units crossing the market and Wisynco Group fell 39 cents to $24.10, with 128,188 shares changing hands.
Trading in the US dollar market closed, with 247,186 units amounting to $48,362, with the market index adding 3.39 points to close at 229.67. Margaritaville traded 4,600 shares to end at 30 US cents, Proven Investments gained 2 cents with 38,568 shares crossing the exchange to close at 34 US cents and Sygnus Credit Investments exchanged 201,518 stock units after slipping by one cent to close at 14 US cents. JMMB Group 5.5% preference share, traded 2,500 units at US$2.02.