Wild swings continue in market activity on Friday, with the All Jamaican Composite Index falling 7,642 points from the day high of 466,915.58 points in the early morning session with Sagicor Group rising to $56.50 from $54 at the close on Thursday to be the main contributor to the early rise. The market failed to hang on to the early gains and declined 2,499.76 points to close at 59,273.23, within the region of resistance.
At the close, the JSE Main Index fell 749.88 points to end at 426,420.61 and the JSE Financial Index slipped 0.09 points to 105.65.
Trading ended with 49 securities compared to 53 on Thursday, with 19 stocks rising, 16 declining and 14 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 17.1 based on ICInsider.com’s 2021-22 earnings forecast.
The market closed with 18 percent more shares trading than on Thursday, with 12,127,180 shares for $631,548,664, some 232 percent higher than on Thursday, compared to 10,251,097 units at $190,490,762 on Thursday. Wigton Windfarm led trading with 21.5 percent of total volume for an exchange of 2.60 million shares followed by Sagicor Select Financial Fund with 11.6 percent for 1.41 million units and Carreras 10.3 percent with 1.25 million units.
Trading averaged 247,493 units at $12,888,748, compared to 193,417 shares at $3,594,165 on Thursday. Trading month to date averages 233,635 units at $5,124,111, in contrast to 231,890 units at $4,146,046 on Thursday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has six stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell $1.05 to $82.95 with the swapping of 566,393 shares, Caribbean Cement rose $1.07 to $94.99 in switching ownership of 5,026 stock units, Eppley popped 25 cents to $38 in transferring 350 stocks. Grace Kennedy rose 75 cents ending at $94.97 with 232,587 stock units changing hands, Guardian Holdings spiked $15.10 to $760 with 454,106 shares crossing the market, Jamaica Broilers rallied $2.50 to $36.50 after exchanging 106,863 stocks. Jamaica Producers lost 35 cents to finish at $22.65 in trading 751,548 stock units, Jamaica Stock Exchange fell 35 cents to $17.05 with an exchange of 5,545 shares, Margaritaville spiked $1.05 to $15.80 in transferring 3,020 stocks, Mayberry Jamaican Equities rose 70 cents to $9.55 with an exchange of 76,052 stock units, 138 Student Living rallied 30 cents to $5.50 in trading 92,848 stocks, investors slashed $101.92 off the price of Palace Amusement to finish at $1,070 in an exchange of 279 units, Pan Jam Investment dropped $3.50 to $64.50 in trading 52,305 shares, Proven Investments popped $1.50 to $37 after a transfer of 20,778 stock units.
Sagicor Group spiked $3 to $57 after 526,416 shares cleared the market. Scotia Group fell 44 cents to close at $39.56, with 124,591 stocks changing hands. Seprod rose 99 cents to $74.99 after exchanging 57,110 stock units, Supreme Ventures gained 50 cents to close at $20.50 after trading 214,253 units and Wisynco Group shed 55 cents to end at $15.40 with 244,402 stock units changing hands.
In the preference segment, Eppley 7.50% preference share surged $1.50 to $11 after exchanging 210 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
