JSE main market drops

The main market of the Jamaica Stock Exchange lost ground for a second day as the value of stocks traded plunged to just $50 million, significantly below the previous day’s level.
The JSE All Jamaican Composite Index declined 1,404.63 points to close at 541,925.37, the JSE Index slipped 1,247.57 points to 493,541.80 and the JSE Financial Index dipped 1.17 points to close at 133.30.
The market closed with 36 securities changing hands in the main and US dollar markets with 12 rising, 13 declining and 11 trading firm. Main market activity ended with 33 securities accounting for 13,816,242 units valued at $50,442,551 in contrast to 10,781,818 units valued at $130,615,509 on Wednesday from 35 securities.
Sagicor Select Funds dominated trading with 9.8 million shares for 71 percent of total volume, followed by Wigton Windfarm with 2.2 million units accounting for 16 percent of the day’s trade and QWI Investments with 596,392 shares for 4 percent of the market’s volume.
The market closed with an average of 418,674 units at $1,528,562 for each security traded, in contrast to 308,052 units valued at an average of $3,731.872 on Wednesday. The average volume and value for the month to date amounts to 361,820 units valued at $3,292,259 and previously, an average of 348,700 units for $3,699,266 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 14 stocks ending with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 17, with the main market ending at 17.8 times 2019 current year’s earnings.
In main market activity, Barita Investments lost $1.50 to close at $69 after exchanging 31,066 shares, Berger Paints gained 89 cents with 560 units changing hands to end at $18, Caribbean Cement climbed $3.50 and settling at $78.50 with 7,744 shares changing hands. Carreras lost 35 cents to close at $8.45, in swapping 42,330 shares, Eppley Caribbean Property Fund closed at $35.13, after gaining 63 cents and trading 1,080 stock units, Jamaica Broilers lost $1.62 with an exchange of 5,714 shares to end at $35. Jamaica Producers closed $1.85 lower at $22, with 1,471 units changing hands, JMMB Group rose $2.01 to $42.01 with 10,947 shares crossing the exchange, Mayberry Investments lost 80 cents to close at $7.20 trading 7,600 shares, Mayberry Equities dropped 79 cents lower to $10, in swapping 710 units. Scotia Group dived $4.50 in exchanging 61,697 shares, to end at $53.50, Seprod closed $2.49 lower to settle at $52.51 with 5,802 units traded, Supreme Ventures lost 49 cents to close at $25.50, with 85,262 shares changing hands and Wisynco ended at $24, after rising 35 cents with 130,458 shares crossing the exchange.
Trading in the US dollar market closed with 755,660 units valued at US$196,773, with the market losing 0.45 points to end at 193.62. Proven Investments lost a fraction of a cent trading 750,000 units to close at 26 US cents, Sygnus Credit Investments exchanged 4,900 units at 14 US cents and JMMB Group 6% preference share closed at US$1.01 with 760 units changing hands.

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