Brutal day for the JSE Main Market

The Main Market of the Jamaica Stock Exchange dropped for a second day and the fourth time in five on Thursday, with the volume of stocks, traded rising 195 percent and the value 206 percent more than on Wednesday, with 61 securities trading compared with 54 on Wednesday, with 13 rising, 35 declining and 13 ending unchanged.
The All Jamaican Composite Index dropped 4,628.88 points to 363,894.60, the JSE Main Index shed 3,811.14 points to end at 329,820.27 and the JSE Financial Index dipped 0.31 points to 74.33.
A total of 13,055,782 shares were traded for $145,021,241, up sharply from 4,421,900 units at $47,368,868 on Wednesday.
Trading averaged 214,029 shares at $2,377,397 versus 81,887 shares at $877,201 on Wednesday and month to date, an average of 196,079 units at $1,186,146 compared to 192,182 units at $927,546 on the previous day. May closed with an average of 226,361 units at $1,362,447.
Supreme Ventures led trading with 3.98 million shares for 30.5 percent of total volume followed by Wigton Windfarm with 3.55 million units for 27.2 percent of the day’s trade and Transjamaican Highway with 2.72 million units for 20.8 percent of the day’s trade with the price hitting a record closing high of $2.09, with the stock rising more than 47 percent for the year to date, and have more room to rise.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.2 for the Main Market.The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell 95 cents to $75 with 31,858 shares clearing the market, Eppley dropped 98 cents in closing at $35.92 while 54 stocks were traded , Eppley Caribbean Property Fund increased $4.17 to $42.69 after 122 stock units crossed the market. First Rock Real Estate lost 62 cents to close at $10.15 as investors exchanged 19,090 units, Guardian Holdings shed $21 and ended at 52 weeks’ low of $450 in switching ownership of 6,612 shares, Jamaica Broilers dipped $1.99 to close at $33.01 with investors transferring 144,377 stock units. Jamaica Producers declined 60 cents in closing at $19.30, with 4,826 units changing hands, Jamaica Stock Exchange fell 39 cents and ended at $13 with shareholders exchanging 12,555 stocks, JMMB Group declined 90 cents to $29 after 55,520 shares crossed the market. Kingston Wharves rose 88 cents to end at $30 as 1,595 units passed through the exchange, Margaritaville shed 32 cents to end at $17.99 and closed with an exchange of 248 stock units, Massy Holdings lost $2 in closing at $100 after an exchange of 5,940 stocks. Mayberry Investments dipped 50 cents in closing at $8.50 after 55,529 stock units were traded, Mayberry Jamaican Equities dipped 36 cents and ended at $10.50, with 12,090 stocks changing hands, MPC Caribbean Clean Energy advanced 50 cents to close at $70.50 with shareholders swapping 60 shares. NCB Financial fell 50 cents to end at $69 with an exchange of 206,811 units, 138 Student Living shed 34 cents in ending at $5.16 after a transfer of 556 units, Pan Jamaica gained $1.94 in closing at $52 in an exchange of 1,070 stocks. Proven Investments dipped 69 cents to $25.31 in trading 1,644 stock units, Sagicor Group popped 49 cents to close at $49 in an exchange of 15,228 shares, Scotia Group declined 32 cents in closing at $34.18 with a transfer of 41,311 stocks. Seprod dropped $1.37 to end at $68.63, with 16,107 stock units crossing the market, Supreme Ventures lost 70 cents to close at $25.99 after it traded at a 52 weeks’ intraday low of $20 and exchanged 3,984,502 units, Sygnus Real Estate Finance shed $2 ended at $11, with 40 shares changing hands.
In the preference segment, Eppley 5% preference share fell $3 to close at a 52 weeks’ low of $17 with a transfer of 58 shares, Eppley 7.50% preference share declined $1.28 to close at $6.20 after a transfer of 315 stocks. Jamaica Public Service 7% dipped $14.77 in closing at $63.83 in an exchange of 1,535 units and 138 Student Living preference share dropped $13.99 and ended at $74 after 41 stock units crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.