The Main Market of the Jamaica Stock Exchange suffered significant losses in the indices as declining stocks had the upper hand over rising ones after trading levels increased over Monday.
At the close, the JSE All Jamaican Composite Index dived 5,157.29 points to 532,915.18. The JSE Market Index dropped 4,667.89 points to 485,163.15, while the JSE Financial Index fell 0.99 points to 131.31.
The market closed with 44 securities changing hands in the Main and US dollar markets with the prices of 12 advancing, 15 declining and 17 trading firm. The JSE Main Market activity ended with 39 securities accounting for 31,839,670 units valued at $148,017,425 in contrast to 17,374,368 units valued at $123,900,597 from 42 securities on Monday.
Wigton Windfarm traded 13 million shares for 41 percent of total volume, followed by Sagicor Select Financial Fund with 5.2 million units for 16.2 percent of the day’s trade and JMMB Group 7.5% preference share with 4.7 million shares for 14.6 percent of the market share. Other stocks trading more than one million units were 138 Student Living with 3.6 million shares and Jamaica Producers with 1.3 million units.
The Market closed with an average of 565,203 units valued at an average of $3,795,319 for each security traded, in contrast to 413,675 units valued at an average of $2,950,014 on Monday. The average volume and value for the month to date amount to 592,330 units valued at $2,812,748 for each security changing hands compared to 593,879 units at $2,753,059 for each security traded. Trading in January resulted in an average of 626,134 units valued at $3,511,981 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and four closing with lower offers. The PE ratio of the market ended at 18.8, while the Main Market ended at 18 times 2019 earnings.
In the prime market, First Rock Capital closed $1 lower to $15, with an exchange of 20,503 shares, Grace Kennedy lost 50 cents to settle at $67.50, trading 6,752 units, Jamaica Producers fell to $22, after losing $2 transferring 1,324,924 shares, Jamaica Stock Exchange closed at $30.15, with a loss of $1.35 swapping 27,163 shares. JMMB Group shed $1.39 to end at $43.11, with 274,164 shares changing hands, Kingston Wharves closed trading at $58, after losing $1 and exchanging 29,579 shares, Mayberry Investments added 40 cents to end at $8.50, in swapping 5,000 shares. NCB Financial closed $2.64 higher to $187.64 after trading 22,536 units, 138 Student Living declined by $1.50 to settle at $7, in swapping 3,555,944 shares, PanJam Investment gained $1.95 to close at $101, with 21,521 shares changing hands, Portland JSX climbed $1 to a 52 weeks’ high of $11, in transferring 4,000 units. Pulse Investments swapped 107,388 shares at $11.30, after gaining 22 cents. Sagicor Group dropped $3.50 to $66.50, in exchanging 372,430 shares, Scotia Group closed at $54, with gains of 89 cents with 17,300 shares changing hands, Supreme Ventures lost $1.30 to close at $22.20 trading 660,220 shares and Sygnus Credit Investments closed at $26.99, after gaining 79 cents transferring 15,194 shares.
Trading in the US dollar market ended with 191,622 units valued at over US$39,277. The market lost 1.06 points to close at 227.18. Newly listed First Rock Capital, traded 2,975 units at 12 US cents, Margaritaville exchanged 1,810 units at 29 US cents, Proven Investments closed at 31 US cents, with 52,161 units changing hands. Sterling Investments gained 0.8 cents after swapping 10,820 shares to settle at 2.89 US cents and Sygnus Credit Investments gained 1.7 cents to end at a 52 weeks’ high of 19.5 US cents in trading 123,856 shares.
Prices of securities trading for the day are those at which the last trade took place.