Falling stocks hit JSE USD Market

Declining stocks pressured the Jamaica Stock Exchange US dollar market on Friday, with declining stocks outnumbering those gaining, following a 415 percent rise in the volume of stocks changing hands after 32 percent more funds were pumped into trading than on Thursday. At the close eight securities were traded, similar to Thursday and the market closed with prices of two stocks rising, six declining.
Overall, 441,233 shares were traded for US$11,332 compared with 85,659 units at US$8,596 on Thursday.
Trading averaged 55,154 units at US$1,417 compared to 10,707 shares at US$1,075 on Thursday, with a month to date average of 34,658 shares at US$1,947 compared with 32,985 units at US$1,991 on the previous day. April ended with an average of 394,241 units for US$22,357.
The US Denominated Equities Index dipped 10.89 points to 226.61.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Margaritaville added 1 cent to end at 11 US cents with a transfer of 70 shares, MPC Caribbean Clean Energy dropped 2 cents to close at 58 US cents while exchanging 1,127 units, Productive Business Solutions declined 19.99 cents to US$1.70, with 110 stocks changing hands, Proven Investments lost 0.1 of a cent in closing at 16.9 US cents with an exchange of 536 stock units, Sygnus Credit Investments rallied 0.5 of a cent to 11.5 US cents with shareholders trading 57 stocks, Sygnus Real Estate Finance USD share shed 2.1 cents to close at 9 US cents in an exchange of 1,700 shares and Transjamaican Highway fell 0.09 of a cent to end at 1.2 US cents, with 432,933 stock units crossing the market.
In the preference segment, JMMB Group 6% dipped 14 cents in closing at US$1.07 as investors exchanged 4,700 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.