Big plunge for Junior Market

The Junior Market of the Jamaica Stock Exchange dropped sharply on Wednesday, with the Market Index plunging 107.82 points to 4,026.34, with the volume of stocks traded declining marginally after 10 percent more funds entered the market than on Tuesday.
Market activity led to 42 securities trading down from 44 on Tuesday and ended with 12 rising, 21 declining and nine unchanged.
A total of 10,146,538 shares were traded for $35,165,833 compared to 10,954,252 units at $31,979,360 on Tuesday. Trading averaged 241,584 shares at $837,282 compared to 248,960 shares at $726,804 on Tuesday with a month to date, average of 504,583 units at $1,664,672 compared to 546,266 units at $1,795,806 on the previous trading day. July averaged 512,709 units at $2,574,304.
Dolla Financial led trading with 2.63 million shares for 26 percent of total volume, followed by Jamaican Teas with 1.85 million units for 18.3 percent of the day’s trade and iCreate with 1.03 million units for 10.2 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial fell $2.79 in closing at $19.21 after exchanging 275 shares, Cargo Handlers lost 90 cents to end at $14 with the swapping of 201,200 units, Caribbean Cream gained 42 cents to close at $4.30, with 66 stock units clearing the market. Consolidated Bakeries shed 21 cents to $1.39 in exchanging 66,632 stocks, Dolphin Cove declined 30 cents in ending at $15 after 38,504 stocks changed hands, Express Catering climbed 33 cents to $5.53, with 65,593 shares crossing the market. Future Energy Source dipped 20 cents to close at $5.30 in switching ownership of 613,827 stock units, GWest Corporation fell 12 cents in ending at 90 cents, with 21,170 units crossing the market, iCreate shed 85 cents to $3.55 in trading 1,029,876 shares. Jamaican Teas rallied 30 cents in closing at $2.95 in an exchange of 1,851,771 stock units, Lasco Manufacturing lost 35 cents in ending at $4.20 with an exchange of 57,063 stocks, Lumber Depot declined 10 cents to end at $2.90, with 133,266 units changing hands. Main Event advanced 90 cents to close at $7 after exchanging 25,517 units and Stationery and Office Supplies increased 44 cents to $17.94 in trading 12,919 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.