JSE Main Market dives

The main market of the Jamaican Stock Exchange pulled back at the end of trading on Wednesday with large declines in the major indices as declining stocks bettered advancers.
At the close, JSE All Jamaican Composite Index dived 4,053.80 points to 556,971.46. The JSE Market Index dropped 3,730.51 to close at 507,274.10 while the JSE Financial Index declined by 0.90 points to close at 137.27.
The market closed with 41 securities changing hands in the Main and US dollar markets, with the prices of 13 advancing, 18 declining and 10 stocks remaining unchanged. The JSE Main Market activity ended, with 39 securities accounting for 14,950,690 units, valued $64,523,919 in contrast to 16,653,296 units valued $85,713,471 from 40 securities on Tuesday.
Sagicor Select – Financial Fund dominated trading, with 6.4 million shares and 43 percent of shares traded followed by Wigton Windfarm with 3.9 million units for 26 percent of the day’s trade and QWI Investments with 1.3 million shares for 9 percent of the market share.
The Market closed with an average of 383,351 units valued at an average of $1,654,459 for each security traded. In contrast to 416,332 units for an average of $2,142,837 on Tuesday. The average volume and value for the month to date amounts to 470,120 units valued at $2,039,050 for each security changing hands, compared to 492,094 units valued at $2,136,446 for each security crossing the exchange. Trading in December resulted in an average of 595,143 units for $9,344,514 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending, with bids higher than their last selling prices and two closing, with lower offers. The PE ratio of the market ended at 19.5, with the Main Market ending at 18.9 times the current year’s earnings.
In the prime market, Caribbean Cement dropped 99 cents to end at $79.01 with the trading of 1,725 units, Eppley gained $1 to close at $15 after exchanging 5,631 shares, while Eppley Caribbean slipped $2 to settle at $42 with 6,150 stock units changing hands. Grace Kennedy climbed by $2 to end at $75 with 31,941 units crossing the exchange, Jamaica Broilers fell 50 cents to $39 with 6,535 units changing hands, Jamaica Producers lost $3 to end at $24, with 9,544 stock units traded. Kingston Wharves shed 49 cents to end at $58.01 with 8,707 units crossing the exchange. Mayberry Investments climbed $1.35 in trading 110,497 shares to end at $9.60, while Mayberry Equities declined by 34 cents to finish at $11.66 with 25616 units changing hands, NCB Financial lost 50 cents trading 30,048 shares to close at $199.50. Proven Investments advanced by $1 to settle at $47 with a swap of 21,765 shares, Pulse Investments rose by 80 cents to end at weeks’ high of $7.30 with 188,204 units changing hands, Sagicor Group lost $2.50, trading 64,171 shares to end at $70.50. Sagicor Property Fund picked up 59 cents to close at $9.99 with an exchange of 15,176 stock units, Scotia Group lost $2 to close at $55 with 218,266 units crossing the exchange and Seprod declined by 50 cents to end at $50.50 with 46,978 shares transferred.
Trading in the US dollar market closed with 218,858 valued at over US$36,018. The market index gained 2.41 points to close at 228.37. Proven Investments picked up 1 cent to close at 33 US cents with 28,500 stock units changing hands while Sygnus Credit Investments closed at 14 cents in trading 190,358 shares.