Drop for JSE Main Market

More stocks declined than rose at the end of trading on the JSE Main Market on Friday, leading to a modest fall in the primary indices of the market.
The market closed with 43 securities changing hands in the Main and US dollar markets, with the prices of 12 advancing, 16 declining and 15 stocks remaining unchanged. The JSE Main Market activity ended, with 41 securities accounting for 10,152,496 units, valued $85,998,804 in contrast to 39,225,030 units for $114,615,971, from 34 securities on Thursday.
At the close, JSE All Jamaican Composite Index dropped 653.75 points to 562,568.28. The JSE Market Index declined by 470.69 points to close at 512,395.40 and the JSE Financial Index gained 0.05 points to close at 138.38.
Sagicor Select – Financial Fund dominated trading, with 3.4 million shares for 33.4 percent of total shares traded, followed by Wigton Windfarm with 2.54 million units for 25 percent of the day’s trade and Sagicor Select – Manufacturing & Distribution Fund with 946,634 shares for 9 percent of market share.
The market closed, with an average of 247,622 units valued at $2,097,532 for each security traded, in contrast to 1,153,677 units valued at an average of $3,371,058 on Thursday. The average volume and value for the month to date amounts to 658,367 units for $2,674,864 for each security changing hands. Trading in December resulted in an average of 595,143 units for $9,344,514 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending, with bids higher than their last selling prices with one closing, with a lower offer. The PE ratio of the market ended at 19.4, with the Main Market ending at 18.9 times the current year’s earnings.
In the prime market, Barita Investments gained 34 cents to close at $73.85, with 17,077 shares changing hands, Berger Paints added 49 cents in trading 6,934 units at $18.50, Caribbean Cement dropped $4 to end at $80 in exchanging 32,184 stock units. Grace Kennedy lost $1 to close at $72, after trading 1,507 shares, Jamaica Broilers lost 40 cents to settle at $40.50, with 16,149 units changing hands, Jamaica Producers declined $3 to end at $24, with 106,961 stock units crossing the exchange. Mayberry Investments lost 49 cents to end at $8.51, in trading 19,055 stock units, PanJam Investment shed $2.49 to end at $99.51, with 5,350 units crossing the exchange. Proven Investments dropped $3.89 in exchanging 28,052 units to close at $46, Pulse Investments declined $1.30 with 323,031 shares changing hands, to end at $6.20. Sagicor Group dived $9.25 trading 37,462 stock units at $68.70, Salada Foods jumped $2.50 to close at $37.50 with 3,260 changing hands, Scotia Group rose $3 to close at $59 with an exchange of 601,925 stock units. Seprod lost $1.50 to end at $50 with a transfer of 6,883 shares and Wisynco Group gained 45 cents to $23.95, with 133,187 shares changing hands.
Trading in the US dollar market closed with 84,128 units valued at over $28,707. The market index advanced 4.88 points to close at 232.03. Proven Investments fell 0.06 cents in exchanging 80,669 units to close at 31.30 US cents, Sterling Investments rose 0.04 cents in trading 1,600 units to close at 2.9 US cents and JMMB Group 6.0% preference share gained 4 cents in trading 929 units at US$1.05.