Falling prices dominate JSE trading

Falling prices dominated trading on the main market of the Jamaica Stock Exchange slid on Tuesday, as trading volume fell significantly while the value of stocks traded, rose marginally, compared to Monday’s activity.
Trading closed with 33 securities changing hands in the main and US dollar markets with the prices of 9 advancing, 20 declining and 4 trading firm. Main market activity ended with 32 securities accounting for 8,271,382 units changing hands valued at $138,889,143, in contrast to 19,703,423 units valued at $146,119,200 on Monday from 38 securities.
At the close of trading, the JSE All Jamaican Composite Index declined 2,084.95 points to close at 543,573.30, the JSE Index dipped 1,975.07 points to 494,964.14 and the JSE Financial Index slipped 0.81 points to close at 134.10.
Wigton Windfarm dominated trading with 2.3 million shares for 28 percent of total volume, followed by Sagicor Select Funds with 2.2 million units accounting for 26 percent of the day’s trade and PanJam Investment with 806,619 shares for 10 percent of the market’s trade.
Trading levels declined sharply to about a third of levels in October with an average of 258,481 units valued at an average of $4,340,286 for each security trading on Tuesday, in contrast to 518,511 units valued at an average of $3,845,242 on Monday. The average volume and value for the month to date amounts to 361,874 units at $3,688,699 and previously, an average of 405,407 units valued at $3,414,347 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending with bids higher than their last selling prices and 5 with lower offers. The PE ratio of the market ended at 17.1 with the main market ending at 17.9 times 2019 current year’s earnings.
In main market activity, Barita Investments climbed $1.28 to close at $71.48 after exchanging 61,100 shares, Caribbean Cement traded 30,053 stock units and slid $2.50 to settle at $75, Eppley Caribbean Property Fund closed at $34.50, after losing 50 cents in swapping 2,780 units. Grace Kennedy gained $1.49 to end at $67.49, with 2,517 shares crossing the exchange, JMMB Group closed $1 lower to $41, with 15,140 stock units changing hands, Kingston Wharves rose to $57 with a gain of $3 while exchanging 16,926 shares. Mayberry Investments closed $1.62 higher at $8.84 trading 1,200 stock units, NCB Financial ended at $204 after losing $1 in swapping 59,120 shares, Pulse Investments closed at $4.65, after climbing 75 cents with 37,707 units traded. Sagicor Real Estate Fund lost 50 cents, to settle at $11 swapping 17,900 shares, Salada Foods lost $2 exchanging 4,418 stock units to end at $30, Scotia Group dropped $2.88 trading 31,860 shares, to end at $56.11, Seprod added 40 cents to settle at $55 with 6,589 units traded. Supreme Ventures lost 99 cents to close at $25 with 18,415 shares changing hands, VM Investments fell 37 cents to $7.51 while exchanging 128,063 stock units and Wisynco Group slipped $1, in swapping 267,872 shares to close at $23.
Trading in the US dollar market ended with 7,000 units valued at US$980 with the market index remaining at 194.07 as Sygnus Credit Investments, the sole trade exchanged 7,000 units at 14 US cents.

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