Big jump in main market trading

Investors pushed the Jamaica Stock Exchange Main Market higher on Thursday, with the volume of stocks traded rising 561 percent, with 116 percent greater value than Wednesday, following trading in 50 securities compared to 57 on Wednesday, with prices of 21 rising, 18 declining and 11 ending unchanged.
A total of 186,827,923 shares were traded for $789,529,362 up from 28,254,323 units at $365,934,690 on Wednesday.
Trading averaged 3,736,558 units at $15,790,587 versus 495,690 shares at $6,419,907 on Wednesday and month to date, an average of 377,970 units at $3,714,938, compared to 226,546 units at $3,170,510 on the previous day. August closed with an average of 738,534 units at $5,975,613.
JMMB Group 7.25% preference share due 2024, led trading with 175 million shares for 93.7 percent of total volume traded, followed by Wigton Windfarm with 2.66 million units for 1.4 percent of the day’s trade, Pulse Investments accounted for 1.67 million units with 0.9 percent market share. Sagicor Select Financial Fund closed with 1.51 million units for 0.8 percent of traded shares, Transjamaican Highway had an exchange of 1.38 million units for 0.7 percent of market share and Barita Investments ended with 1.34 million units for 0.7 percent of trading.
The All Jamaican Composite Index rallied 1,658.74 points to 410,071.11, the JSE Main Index increased 1,851.88 points to 357,899.15 and the JSE Financial Index inched 0.10 points to 86.23.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.9 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 13 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments advanced 65 cents to end at $103.50 with the swapping of 1,344,652 shares, Caribbean Cement rose 49 cents in ending at $61.49 with an exchange of 2,137 stock units, Eppley gained $2.50 in closing at $41 after exchanging 240 units. Eppley Caribbean Property Fund popped $2.95 to close at $46.95, with 13,708 stocks crossing the market, First Rock Real Estate lost 40 cents to close at $13.35, with 837 stock units changing hands, Guardian Holdings rallied $3 in closing at $500 after exchanging 52 stock units. Jamaica Stock Exchange declined $1.42 to close at $15.08 after trading 50,036 units, Massy Holdings dropped $6.35 to $81.10 after 172 shares were exchanged, Mayberry Investments increased 40 cents to $8.20 after a transfer of 30,000 stock units. 138 Student Living fell $1 to end at $5.50 as investors exchanged 80,604 units, PanJam Investment dipped 99 cents to close at $59 with an exchange of 4,888 shares, Proven Investments climbed 98 cents to end at $31 in trading 1,018 stocks. Scotia Group shed $1 to end at $34 while exchanging 27,206 shares and Seprod rose 52 cents in closing at $65.05 with investors transferring 5,923 units.
In the preference segment, Jamaica Public Service 9.5% gained $140 to close at $2,790, after 36,603 stocks changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.