JSE Main Market drops back – Monday

Main Market of the Jamaica Stock Exchange suffered a sharp decline in prices of some stocks at the close of trading on Monday, as prices adjust from the end of month price-fixing on Friday gone.  
At the close, Sagicor Group sustained dropped $11.95 and erased the $10.95 gained of Friday. MPC Caribbean Clean Energy shed $7 followed by Eppley Caribbean Property Fund and Jamaica Broilers with losses of $4.53 and $4.75, respectively.
At the close, the JSE All Jamaican Composite Index dropped 4,579.73 points to close at 544,934.33, the JSE Market Index declined 4,321.20 points to 496,142.13 and the JSE Financial Index slid 2.26 points to 133.39.
The market closed with 44 securities changing hands in the Main and US dollar markets with the prices of 13 advancing, 20 declining and 11 trading firm. The JSE Main Market activity ended with 40 securities accounting for 28,713,834 units for $92,575,039 in contrast to 25,178,696 units valued at $85,865,743 from 41 securities on Friday.
 Wigton Windfarm led trading with 12.4 million shares for 43 percent of total volume, followed by Sagicor Select Financial Fund with 7.4 million units for 26 percent of the day’s trade and Sagicor Select Manufacturing and Distribution Fund with 5.7 million shares for 20 percent of the market’s volume. QWI Investments exchanged 1.24 million units and was the only other stock trading more than one million shares on Monday.
 The Market closed with an average of 717,846 units valued at an average of $2,314,376 for each security traded, in contrast to 614,115 units valued at an average of $2,094,286 on Friday. 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 seven 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, while the Main Market ended at 18.7 times 2019 earnings.
In the Main Market, Barita Investments gained 50 cents to close at $71.50 after exchanging 5,705 units, Caribbean Cement ended 50 cents lower to settle at $74 trading 9,203 shares, Eppley Caribbean Property Fund dropped $4.53 to $37, with 6,610 units changing hands. Grace Kennedy closed at $74, after losing 50 cents in transferring 17,183 shares, Jamaica Broilers lost $4.75 to end at $34 in swapping 112,264 units, Jamaica Stock Exchange shed $1.50 to settle at $30.50 trading 12,476 shares. JMMB Group lost 50 cents to end at $46, in transferring 69,116 shares. Kingston Properties slid $1.30 to $6.20, after exchanging 8,009 shares, Kingston Wharves advanced $3 to end at $69, with 141 units traded, MPC Caribbean Clean Energy tumbled to $195, with a loss of $7 after swapping 121 units. PanJam Investment gained $1 in transferring 2,697 shares and closed at $101, Proven Investments closed 60 cents lower at $49, with 3,166 shares changing hands, Sagicor Group plunged to $68, after losing $11.95 trading 75,067 shares, Scotia Group gained $1.30 to settle at $57 transferring 244,916 shares. Seprod closed 90 cents higher at $47, exchanging 17,379 shares. Stanley Motta lost 71 cents to end at $5, in swapping 6,000 units, Victoria Mutual Investments ended at $10.10, with a loss of 60 cents trading 151,461 shares and Wisynco Group closed the day’s trade at $23, after falling 35 cents in transferring 106,046 shares.
Trading in the US dollar market ended with 12,708 units valued at over US$11,897. The market index gained 3.43 points to close at 233.91. JMMB Group 5.75 % preference share closed at US$2 with 5,000 units changing hands, Proven Investments exchanged 4,377 shares at 32 US cents, Sterling Investments swapped 395 units at 3 US cents and Sygnus Credit Investments gained 0.5 US cents to settle at 0.165 US cents in trading 2,936 shares.

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