Bullish open fades on the JSE Main Market

Stocks raced 3,011 points ahead of the 425,748.98 close on Friday within 12 minutes of the market’s opening and pushed the All Jamaican Composite Index to 428,759.90 on the Jamaica Stock Exchange Main Market on Monday, but the market ended the day with a modest rise after more stocks gained than fell.
At the close, the All Jamaican Composite Index rose 204.81 points to 425,953.79, the Main Index advanced by 284.47 points to 388,747.9 and the JSE Financial Index gained 0.31 points to settle at 102.82.
Trading ended with 41 securities changing hands compared to 36 on Friday and closed with the prices of 21 stocks rising, nine declining and 11 remaining unchanged. The average PE Ratio ended at 15.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 38 percent fewer shares than on Friday, after 27,815,530 shares traded for $166,571,949 compared to 44,980,918 units at $1,341,663,306 on Friday. Sagicor Select Financial Fund led trading with 53.9 percent of total volume, after exchanging 14.98 million shares followed by Wigton Windfarm with 13.5 percent for 3.76 million units. Transjamaican Highway controlled a 12.7 percent market share with 3.54 million units and Sagicor Select Manufacturing & Distribution Fund accounted for 3.6 percent of the day’s trade in closing with one million units changing hands.
The average trade was 678,428 units for $4,062,730, compared to an average of 1,249,470 shares at  $37,268,425 on Friday. The average trade for the month to date ends at 346,635 units at $7,073,555 for each security, in contrast to 324,765 units at $7,272,017. October averaged 398,200 units at $4,622,532.
The Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the market closing, Barita Investments gained 50 cents in closing at $84.50, after 11,863 shares cleared the market, Caribbean Cement advanced $1.33 to $58 in trading 2,631 units, Eppley gained $4.98 to $25, with 28,065 stock units changing hands. Eppley Caribbean Property Fund rose 75 cents to $41.50, with 1,350 units crossing the exchange, First Rock Capital gained 30 cents to end at $13 after an exchange of 19,470 stocks, Jamaica Broilers shed 60 cents to settle at $6.40 in trading 6,876 units. Jamaica Producers ended at $20.06, with gains of 36 cents after exchanging 1,067 stock units, Jamaica Stock Exchange rose 87 cents to $19.87, with investors swapping 12,561 shares, Key Insurance jumped $1.81 to $9.11, trading 42,172 units. Mayberry Jamaican Equities shed 80 cents to settle at $7, after transferring 3,098 units, NCB Financial declined $1.48 to$148.50, in crossing the exchange with 714,826 shares, Palace Amusement climbed $34.99 to $1,300, with 2 units changing hands. Salada Foods fell $2.50 to $25, with 5,139 stock units crossing the market, Scotia Group rose 85 cents to end at $46.85, exchanging 10,778 shares and Seprod gained $1 to close at $63 trading 19,472 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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