JSE Main Market climbs on Tuesday

JSE Main Market continues to recover lost grounds on Tuesday, but the gains were moderate at less than 1,000 points as trading surged sharply over Monday’s trading levels.

The JSE Main market continues to claw back some of the March losses but faces a series of resistance points above.

At the close of the market, the JSE All Jamaican Composite Index advanced by 845.58 points to 426,518.42, the JSE Market Index gained 743.85 points to 388,653.94 and the JSE Financial Index added 0.29 points to 106.61.
The market closed with 46 securities changing hands in the Main and US dollar markets with prices of 21 stocks advancing, 13 declining and 12 securities trading firm. The JSE Main Market activity ended with 42 securities changing hands and accounting for 93,346,989 units valued at $195,317,440, in contrast to 24,630,786 units valued at $77,117,092 from a similar number of securities on Monday.
Radio Jamaica led trading with 50.4 million shares for 54 percent of total volume, Trans Jamaican Highway followed with 32.4 million units for 34.7 percent of the day’s trade and Wigton Windfarm with 3.6 million units for 3.8 percent market share. Sagicor Select Financial Fund, the only other stock trading more than one million units, ended the day with an exchange of 2.1 million shares.
The Market closed with an average of 2,222,547 units valued at an average of $4,650,415 for each security traded, in contrast to 586,447 units valued at an average of $1,836,121 on Monday. The average volume and value for the month to date amount to 936,106 units valued at $3,341,554 for each security changing hands, compared to 606,651 units valued at $3,006,358 for each security traded. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and four stocks closing with lower offers. The PE ratio of the market ended at 14.4, while the Main Market ended at 14.7 times 2020/21 earnings.
In the Main Market, Barita Investments rose $1.40 to $58, with the swapping of 4,064 shares, Eppley closed $1.75 higher to $17.75, in trading just 200 stock units, First Rock Capital picked up 90 cents to finish at $10.50, with 7,761 units changing hands. Grace Kennedy gained 60 cents transferring 28,722 shares and closed at $57.60, Jamaica Producers ended at $20.50, after rising 35 cents trading 27,594 units, Jamaica Stock Exchange closed 75 cents higher at $23, in transferring 47,617 shares. JMMB Group finished at $38.74, after picking up 74 cents and exchanging 49,965 stock units, Mayberry lost 30 cents to close at $5.70, with 193,000 shares crossing the exchange, MPC Caribbean Clean Energy dropped $5 to close at $140 after trading 957 stock units. NCB Financial Group climbed $3 to $158, with 69,263 shares changing hands, 138 Student Living fell by $1.10 to $5.90 trading 10,400 units, PanJam Investment shed 97 cents to close at $75, with an exchange of 93,034 shares. Sagicor Group lost 75 cents to end at $49.75, after swapping 120,363 stock units, Salada Foods gained 48 cents to finish at $32.70, with 4,604 units changing hands, Supreme Ventures climbed $1.33 to $15.99, with an exchange of 112,333 shares. Victoria Mutual Investments ended the day at $7.70, after gaining 35 cents and transferring 293,021 shares and Wisynco Group added 61 cents to finish at $16, in trading 560,505 shares.