JSE Main Market continues to climb

The rally that started on Monday continues on the Main Market of the Jamaica Stock Exchange on Thursday, with gains in the market’s major indices with an exchange of 48 percent fewer shares, JSE Main Market continues to climb valued eight percent more than on Wednesday.
At the close, the All Jamaican Composite Index advanced 2,871.01 points to 415,885.38, the Main Index climbed 2,587.62 points to 379,339.68 and the JSE Financial Index added 1.05 points to settle at 99.38.
Trading ended with 40 securities changing hands compared to 43 on Wednesday and closed with the prices of 13 stocks rising, 16 declining and 11 remaining unchanged. The average PE Ratio ended at 15.6 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 12,814,652 shares for $230,585,736 compared to 24,745,227 units at $212,755,395 on Wednesday. Grace Kennedy led trading with 26.3 percent of total volume after 3.36 million shares traded, followed by Sagicor Select Financial Fund with 24.9 percent as 3.19 million units changed hands and Wigton Windfarm with 21.1 percent for 2.70 million shares.
The average traded was 320,366 units changing hands at $5,764,643 for each security, compared to 575,470 shares at $4,947,800 on Wednesday. The average trade for the month to date ends at 259,799 units at $3,740,044 for each security, in contrast to 252,610 units at $3,499,735 on Wednesday. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
Investor’s Choice bid-offer indicator reading for the market shows seven stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments advanced $1.53 to settle at $84, with 4,384 shares changing hands, Caribbean Cement fell $1.94 to end at $53, with an exchange of 11,206 stock units, Jamaica Broilers climbed $2.80 to $27.95, after trading 15,190 units. Key Insurance lost 30 cents to close at $8.10, with investors swapping 7,100 shares, Kingston Properties shed 49 cents and ended at $6.98, after exchanging 100 stocks, Mayberry Jamaican Equities finished 50 cents lower at $7 trading 3,130 units. MPC Caribbean Clean Energy fell $2 to $140, in clearing the market with 2,589 shares, Palace Amusement climbed $245.13 to $1,245.13 after trading of 20 units, Pan Jam Investment declined $2.48 to $61.51, with 43,886 shares changing hands. Proven Investments gained 43 cents to end at $36.50, in exchanging 750 units, Sagicor Group climbed $2 to $50, with investors swapping 11,448 stock units, Salada Foods advanced $1.90 to $28.29, with 5 stocks changing hands. Scotia Group rose $1.75 to $47.75, after trading 80,862 shares, Seprod closed $1.50 higher at $63.50, with investors switching ownership of 29,826 stock units, Sygnus Credit Investments gained 80 cents to end at $17.80, in exchanging 554,552 units. Victoria Mutual Investments rose 38 cents to end at $5.79, with 99,884 shares changing hands and Wisynco Group gained 32 cents to close at $15.26 after 119,591 stocks passed through the market.