JSE Main Market dives again

The Jamaica Stock Exchange Main Market indices dropped back again on Tuesday after suffering pulling back on Monday, with more than twice the number of stocks declining versus those advancing.
At the close, the JSE All Jamaican Composite Index declined 4,862.18 points to close at 540,072.15, the JSE Market Index fell 4,352.68 points to 491,789.45 and the JSE Financial Index lost 0.45 points to 132.94.
The market closed with 42 securities changing hands in the Main and US dollar markets with the prices of 9 advancing, 23 declining and 10 trading firm. The JSE Main Market activity ended with 37 securities accounting for 17,558,523 units for a sum of $50,385,050 in contrast to 28,713,834 units valued at $92,575,039 from 40 securities on Monday.
 Sagicor Select Financial Fund dominated trading with 7.7 million shares for 44 percent of total volume, followed by Wigton Windfarm with 5.8 million units for 33 percent of the day’s trade, and Sagicor Select Manufacturing and Distribution Fund with 1.86 million shares for 10.6 percent of the market’s volume. QWI Investments was the sole stock trading more than 1 million units ending the day with an exchange of 1.2 million units.
 The Market closed with an average of 474,555 units valued at an average of $1,361,758 for each security traded, in contrast to 717,846 units valued at an average of $2,314,376 on Monday. Trading in January resulted in an average of 626,134 units valued at $3,511,981 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows twelve stocks ending with bids higher than their last selling prices and four closing with lower offers. The PE ratio of the market ended at 19.6, while the Main Market ended at 18.8 times 2019 earnings.
In the prime market, Barita Investments closed $1.50 lower to $70, after transferring 20,290 units, Caribbean Cement shed $4 to end at $70, with an exchange of 3,166 shares, Jamaica Broilers gained $1.99 in swapping 11,044 stock units and closed at $35.99. Jamaica Producers lost $1 to settle at $25 trading 18,659 shares, Jamaica Stock Exchange gained $1.50, rising to $32 with 86,224 units changing hands, JMMB Group climbed to $46.40, after rising 40 cents in transferring 93,611 shares. Kingston Wharves dived $8 to $61 while trading 7,712 stock units, MPC Caribbean Clean Energy declined $5 to $190, in exchanging 212 shares, 138 Student Living closed 72 cents higher at $4.97 after trading 33,100 stock units. PanJam Investment lost $1 to close at $100 in transferring 13,154 shares, Pulse Investments ended 41 cents lower to $6.06, after trading 22,656 units, Sagicor Group dropped $1 to $67, after swapping 31,808 stock units. Salada Foods lost $1 to close at $31, with 1,130 shares changing hands, Scotia Group transferred 4,797 units at $46, after losing $1, Seprod closed $1 lower at $46 after exchanging 4,797 shares. Supreme Ventures declined $1.35 to end at $21.60, in swapping 9,714 units, Sygnus Credit Investments shed $2 to $24.50, with 21,007 shares changing hands and Victoria Mutual Investments gained 84 cents to end at $10.94, in trading 106,620 shares.
Trading in the US dollar market ended with 216,868 units valued at over US$36,463. The market index climbed 1.31 points to close at 235.22. JMMB Group 6% preference share closed with an exchange of 184 units at US$1, Margaritaville gained 4 US cents after trading 288 units at 35 US cents. Proven Investments lost half of a cent to close at 31.5 US cents trading 12,408 shares, Sterling Investments ended at 2.4 US cents after losing 0.6 of a cent, in transferring 25,378 shares and Sygnus Credit Investments gained half of a cent to close at 17 US cents.