GraceKennedy corners JSE Main Market


Grace Kennedy dominated Main Market trading on Wednesday with over 5 million shares changing hands, valued at $369 million for 81 percent of the value of the day’s trades, following an exchange of 18.4 million shares valued at $460 million on the Jamaica Stock Exchange Main Market. At the close the volume of stocks traded climbed 139 percent and the value surged 515 percent, compared to Tuesday, with trading in 56 securities down from 58 on Tuesday, with prices of 19 rising, 25 declining and 12 ending unchanged.

The market closed with 18,472,919 shares trading worth $459,836,310 after jumping from 7,740,764 stock units at $74,808,643 on Tuesday.
Trading averaged 329,874 shares at $8,211,363 each, up from just 133,461 stocks at $1,289,804 on Tuesday. Trading for the month to date, averages of 210,420 units at $2,254,927, with an increase from 196,188 shares at $1,545,224 on the previous day and April with an average of 342,509 stock units at $2,726,829.
In an unusual move in recent months, GraceKennedy led trading with 5.27 million shares for 28.5 percent of total volume followed by JMMB 9.5% with 3.71 million stocks for 20.1 percent of the day’s trade, Transjamaican Highway followed with 3.58 million stocks for 19.4 percent of the volume traded and Wigton Energy with 2.46 million units for 13.3 percent of market share.
The All Jamaican Composite Index dipped 138.75 points to 410,076.22, as the JSE Main Index shed 33.99 points to end at 347,975.67 while the JSE Financial Index lost 0.11 points to end at 64.78.
At the close, Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and six with lower offers.
The Main Market ended trading with an average PE Ratio of 20.1. ICInsider.com compiles the JSE Main and the USD Market PE ratios based on last traded prices and earnings forecasts for companies with the financial year ending around August 2026.
At the close of trading, AS Bryden popped 50 cents in closing at $28 following trading of 53 shares, First Rock Real Estate advanced $1.07 to $9.97 with 448 stock units crossing the exchange, Guardian Holdings rose by 95 cents to close at $321 with investors trading 3,524 shares. JMMB Group dipped 60 cents to end at $15.20 after an exchange of 36,646 units, Massy Holdings sank $1.15 to finish at $72.75 with 4,043 stocks clearing the market, Scotia Group slipped 75 cents to $53 in an exchange of 258,883 shares and Seprod climbed $1.75 to $82.99 with investors swapping 22,228 stock units.
In the preference segment, Sygnus Credit Investments C10.5% increased $3 to close at $104 after trading in 216 units.

Prices of stocks traded are those for the last transaction unless otherwise stated.

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