Big surge in JSE Main Market on Wednesday

The Main Market on the Jamaica Stock Exchange bounced back sharply on Wednesday thus reversing the big decline on Tuesday accompanied by a 75percent rise in the volume of stocks traded after a 291 percent surge in the value than on Tuesday, from trading in 55 securities compared to 46 on Tuesday and resulting in a substantial number of 39 prices rising, and just eight declining and eight ending unchanged.
Investors traded 9,955,147 shares valued at $296,663,488 compared with 5,681,384 units at $75,914,996 on Tuesday.
Trading averaged 181,003 units at $5,393,882 compared to 123,508 shares at $1,650,326 on Tuesday and month to date, an average of 202,406 units at $1,736,565 against 203,452 units at $1,557,922 on the previous day. October ended with an average of 231,243 units at $1,464,224.
Seprod led trading with 1.77 million shares for 17.7 percent of total volume followed by Wigton Windfarm with 1.60 million units for 16.1 percent of the day’s trade, Sagicor Group with 1.22 million units for 12.3 percent market share and Stanley Motta with 1.0 million units for 10.1 percent market share.
The All Jamaican Composite Index popped 8,544.44 points to 384,847.77, the JSE Main Index advanced 6,416.85 points to 338,794.51 and the JSE Financial Index climbed 1.84 points to 80.84.
The PE Ratio, a formula to used to determine appropriate stock values, averages 14 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 21 stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments declined $3.46 to $86.02 with 5,883 shares changing hands, Eppley Caribbean Property Fund climbed $4.98 to $41 in transferring 2,486 units, First Rock Real Estate fell 40 cents in closing at $14.60 with 106 stocks crossing the exchange. Jamaica Broilers gained $1 to end at $28.40 trading 74,386 stock units, Jamaica Producers rallied 43 cents to close at $22.73 after 317,493 units crossed the market, Jamaica Stock Exchange rose $2 to end at $16.90 with investors exchanging 231,852 stocks. JMMB Group advanced $1.50 to close at $33 in switching ownership of 40,583 shares, Kingston Properties popped $1 to end at $7.90 with a transfer of 299,908 stock units, Kingston Wharves gained $1.59 to end at $35, with investors exchanging 421,611 stocks. Margaritaville climbed $4.29 to $20.51 with one unit changing hands, Mayberry Jamaican Equities dropped $1 to finish at $12.50 with the swapping of 29,336 stock units, MPC Caribbean Clean Energy popped $5 to $83 after a transfer of 731 shares. NCB Financial lost $1.50 to end at $83.50 in trading 48,621 stock units, Portland JSX gained $1.50 in closing at $10.50 in exchanging 182 units, Proven Investments shed $1.38 to $26.22 with the swapping of 6,563 stocks. Sagicor Group rose $5.10 to $54.10 trading 1,221,619 shares, Scotia Group climbed $1.70 to $34.20 with 65,373 stock units clearing the market, Seprod rallied $3.50 to $70.50 in exchanging 1,766,351 shares. Stanley Motta gained 98 cents in closing at $5.45 with 1,001,953 units changing hands, Supreme Ventures rose 76 cents to end at $24.97 as investors switched ownership of 44,665 stocks, Victoria Mutual Investments rallied 80 cents to $3.80 in an exchange of 114,134 stocks and Wisynco Group gained 41 cents to settle at $18.41 with a transfer of 737,192 units.
In the preference segment, 138 Student Living preference share gained $6 in closing at $51 after an exchange of 4,224 stock units and Productive Business Solutions 9.75% preference share advanced $8.10 to $130 with investors transferring seven shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.