JSE main market drops – Wednesday

The Jamaica Stock Exchange main market got a big dent at the close of trading on Wednesday, with advancing stocks outpacing declining ones.
The market ended, with 35 securities trading in the main and US dollar markets, leading to 13 securities advancing, 10 declining and 12 trading firm, compared to 40 securities trading on Tuesday.
At the close of trading, the All Jamaican Composite Index dropped 3,636.12 points to 527,279.98, the JSE Index lost 3,636.12 points to end at 527,279.98 and the JSE Financial Index eased 0.95 points to end at 143.90.
Shares totaling 44,288,838 units valued at $313,609,087 crossed the main market on Wednesday, compared to 46,422,862 units valued at $317,831,700 changing hands on Tuesday. Wigton Windfarm was the leading trade with 21 million units accounting for 47 percent of total volume, Sagicor Select Fund followed with 18 million shares accounting for 41 percent of the day’s trade and PanJam Investment with 1.7 million shares for 4 percent of the main market’s volume.
Trading closed with an average of 1,302,613 units valued at an average of $9,223,797 for each security traded. In contrast to 1,289,524 units for an average of $8,828,658 on Tuesday. The average volume and value for the month to date amounts to 2,014,144 units valued at $12,716,617 and previously, 2,066,282 units valued at $12,994,084. July closed with an average of 1,297,718 shares at $17,985,644 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 12  stocks ending with bids higher than their last selling prices and 3 with a lower offer.
In the main market activity, Barita Investments declined $12 to settle at $75 in exchanging 23,629 shares, after the stocks went ex-rights at the close of Tuesday. Caribbean Cement lost $7 in trading 24,222 shares to close at $77.50, Grace Kennedy fell 99 cents in trading of 33,484 units at $70.01, Jamaica Producers gained $2.29 to end at $29, trading 2,800 shares. Jamaica Stock Exchange ended with a loss of $1 at $30 with 383,429 stock units changing hands, Mayberry Jamaican Equities gained $1 to end at $13 with 44,650 stock units trading, MPC Caribbean closed with a loss of $4 to close at 52 weeks’ low of $126 in swapping of 500 shares, NCB Financial gained $7 to end at $215 in trading 83,555 shares. Proven Investments dropped $5 in trading of 27,436 units to settle at $ 35, Proven Investments decline 5 cents in trading of 27,436 units at $ 35. Sagicor Real climbed $1 to settle at $12 with 101,700 shares changing hands, Scotia Group declined $1.99 cents in trading of 24,845 units to close at $55 and Seprod ended with a loss of $1 at $50.01 with 43,825 stock units changing hands.
Trading in the US securities market resulted in 50,000 units valued at $13,000 changing hands. Proven Investments closed at 26 US cents with an exchange of 50,000 shares, leading the JSE USD Equities Index to rise 1.70 points to close at 193.17.