JSE Main Market drops on Monday

In Monday’s trading, declining stocks exceeded those rising by a wide margin on the Jamaica Stock Exchange Main Market on Monday, with the volume of stocks traded rising 60 percent with an 8 percent lower value than on Friday, after 57 securities were traded up from 54 on Friday, and ended with 16 rising, 25 declining and 16 ending unchanged.
A total of 16,146,320 shares were exchanged for $67,828,590 versus 10,072,258 units at $74,070,561 on Friday.
Trading averaged 283,269 units at $1,189,975 compared with 186,523 shares at $1,371,677 on Friday and month to date, an average of 194,595 units at $1,098,838, compared to 171,730 units at $1,075,008 on the previous trading day. October closed with an average of 231,243 units at $1,464,224.
Wigton Windfarm led trading with 10.90 million shares for 67.5 percent of total volume, followed by Transjamaican Highway with 1.50 million units for 9.3 percent of the day’s trade and 138 Student Living with 1.04 million units for 6.4 percent market share.
The All Jamaican Composite Index dropped 1,302.79 points to 396,650.26, the JSE Main Index fell 2,127.45 points to 347,022.71 and the JSE Financial Index declined 0.30 points to close at 83.36.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement rallied $4 in closing at $61.50 after exchanging 4,250 shares, Guardian Holdings slumped $22.98 to end at $496.02 with investors transferring 2,971 stock units, Jamaica Broilers shed $1.13 after finishing at $28 trading 34,225 stocks. Jamaica Producers fell $2.78 to close at $17.52 in exchanging 5,328 units, Jamaica Stock Exchange gained 84 cents to close at $16.05 with the swapping of 400 units, JMMB Group declined 80 cents to end at $36.50 with 32,634 stock units changing hands. Massy Holdings dipped $1 to close at $79 in transferring 1,128 stocks, Mayberry Investments dropped $1 to end at $7 with an exchange of 15,815 shares, NCB Financial lost $1 in closing at $85, trading 377,375 units. PanJam Investment shed 50 cents to finish at $54 with the swapping of 366 shares, Portland JSX gained 50 cents to end at $9.50 with 6,612 stocks changing hands, Supreme Ventures dipped 68 cents to $26 as investors switched ownership of 220,329 stock units.
In the preference segment, Jamaica Public Service 9.5% popped $100 in closing at $3,000 with an exchange of 4 shares and 138 Student Living preference share declined $1.07 to close at $49.55 after a transfer of 322 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.