JSE Main market closes down as trading jumps

Trading activity picked up sharply on the Jamaica Stock Exchange Main Market on Wednesday, with the volume of stocks traded jumping 131 percent and the value surging 499 percent more than Tuesday, with trading in 58 securities compared with 55 on Tuesday, with prices of 25 stocks rising, 21 declining and 12 ending unchanged resulting in a fall in the market indices but Investor’s Choice bid-offer indicator is flashing a positive signal at the close.
The market closed with an exchange of 12,511,690 shares at $136,341,735 from 5,418,018 units at $22,750,182 on Tuesday.
Trading averaged 215,719 shares at $2,350,720 up sharply from 98,509 units at $413,640 on Tuesday and month to date, an average of 161,130 units at $977,979, in comparison with 152,084 stock units at $750,496 on the previous day and December that averaged 264,266 units at $3,755,946.
Wigton Windfarm led trading with 3.67 million shares for 29.3 percent of the total volume followed by Jamaica Broilers with 3.22 million units for 25.7 percent of the day’s trade, JMMB Group 7.5% with 2.35 million units for 18.8 percent market share and Transjamaican Highway with 1.03 million units for 8.2 percent of total volume.
The All Jamaican Composite Index fell 3,548.11 points to settle at 357,372.64, the JSE Main Index declined 2,758.68 points to conclude trading at 320,529.65 and the JSE Financial Index declined 1.77 points to 68.43.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and none with a lower offer, an indication of a surge in the market at the opening on Thursday.
At the close, AS Bryden rallied $1 and ended at a record high of $40 while exchanging 5,683 units, Barita Investments rose 49 cents to $71 after 6,404 stocks passed through the market, Caribbean Cement climbed $2.24 to close at $57 with an exchange of 1,772 shares. Carreras popped 41 cents in closing at $8.55 with 75,183 stock units clearing the market, First Rock Real Estate advanced 33 cents to end at $7.10 after exchanging 89 shares, Guardian Holdings sank $5 to $390 with a transfer of 46 stock units. Jamaica Broilers lost 65 cents in closing at $33.25 after investors ended trading of 3,216,002 units, Jamaica Producers increased 80 cents to end at $23.30 in an exchange of 178,177 stocks, Jamaica Stock Exchange dipped 96 cents to close at $10.06 with investors trading 4,391 shares. Kingston Properties fell 50 cents and ended at $7.05 in switching ownership of 33,468 stocks being traded, Mayberry Group fell 95 cents to $7.50 with 12,001 units, Mayberry Jamaican Equities shed 89 cents to close at $9.01 in trading 30,803 stocks. NCB Financial gained $1.30 in closing at $67.50 with 46,518 units crossing the exchange, Proven Investments dropped $1.30 and ended at $22.18 with traders dealing in 725 stocks, Sagicor Group skidded $1.07 to end at $44.93 after a transfer of 60,625 shares. Salada Foods popped 47 cents to $3.94, with 2,084 stock units crossing the market, Scotia Group advanced 70 cents to close at $38.80 after an exchange of 17,100 shares and Seprod sank $1.99 and ended at $83 with investors transferring 36,072 stock units.
In the preference segment, Jamaica Public Service 7% rose $8.17 in closing at $48.17 in an exchange of  one stock and Productive Business Solutions 10.5 % preference share rallied $40 to end at $1,100, with 280 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.