JSE Main Market cedes 78% of Monday’s gains

Trading jumped sharply on the Jamaica Stock Exchange Main Market on Tuesday, but the market failed to hold on to all the gains on Monday and gave back 78 percent of it as declining stocks had the better hand over those rising.
At the close, the All Jamaican Composite Index declined 3,476.55 points to close at 403,619.02, the Main Index dived 3,207.50 points to 368,317.40 and the JSE Financial Index lost 1.36 to end at 94.87.
Trading ended with 43 securities changing hands with the prices of 14 stocks rising, 22 declining and the prices of seven closing unchanged. The average PE Ratio of the Main Market ended at 15.5 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 32,897,914 shares for $306,628,403 compared to 10,952,085 units at $38,235,878 on Monday. Wigton Windfarm led trading with 21.9 million shares for 67 percent of total volume after the company reported a 30 percent jump in 2020 fiscal year profits. Grace Kennedy followed with 2.73 million units for 8.3 percent of the day’s trade and Sagicor Select Financial Fund with 2 million units for 6 percent market share. Other stocks trading more than a million shares are Carreras with 1.37 million units and Sterling Investments with 1.2 million stock units.
The average trade for the day ended at 765,068 units at $7,154,149 in contrast to an average of 262,942 at $911,881 on Monday. An average of 422,580 units traded for the month to date for $2,855,323 for each security that traded, in contrast to 383,412 units at $2,363,701. The average trade for the previous month ended at 856,725 units at $7,148,772.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the Main market shows nine stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Caribbean Cement gave up $2.50 in closing at $47 after exchanging 21,426 stock units, Eppley Caribbean Property Fund gained 50 cents to settle at $46.50 in trading 28,053 shares. First Rock Capital lost 42 cents in ending at $13.48 with 16,076 stock units changing hands, Jamaica Broilers Group shed 50 cents to end at $27 with an exchange of 9,852 shares, Jamaica Producers Group dropped by $1.24 after closing at $22.51 in trading 14,633 stock units. Jamaica Stock Exchange carved out a loss of 45 cents and ended at $21.50 while exchanging 252,070 shares, Kingston Wharves lost $1 to settle at $50, with an exchange of 2,310 units, Mayberry Jamaican Equities incurred a loss of 39 cents, to close at $9 in trading 101,406 stock units. MPC Caribbean Clean Energy carved out a loss $12, in closing at $160 with an exchange of 1,000 stock units, NCB Financial Group jumped $4.99 to settle at $139.99 with investors swapping 613,214 stock units, 138 Student Living lost 90 cents to settle at $6 trading 1,226 units. Palace Amusement fell $40 in closing at $1,750 with an exchange of a mere five units, PanJam Investment lost $4.90 to close at $68.10 with an exchange of 2,913 stock units, Proven Investments fell 99 cents in ending at $32.01 after trading 4,518 shares. Sagicor Group shed $1.49 to $46 with an exchange of 263,100 stock units, after trading at a 52 weeks’ intraday low of $34. Salada Foods gained $3 to close at $28 with 190 stock units changing hands and Seprod jumped $2.80 to end at $53 trading 45,530 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.