JSE Main Market ekes out gain

Grace Kennedy ended at a 52 weeks’ closing high.

The Main Market on the Jamaica Stock Exchange posted modest gains at the close on Thursday even as declining stocks doubled advancing ones but with Grace Kennedy and Victoria Mutual investments hitting record highs.
At the close, the JSE All Jamaican Composite Index advanced 478.62 points to close at 546,009.63, the JSE Market Index gained 402.72 points to end at 497,269.11 while the JSE Financial Index rose 0.23 points to 133.40.
The market closed with 47 securities changing hands in the Main and US dollar markets with prices of 11 advancing, 22 declining and 14 remaining unchanged. The JSE Main Market activity ended with 42 securities accounting 22,654,582 units valued at $171,374,765 in contrast to 30,283,990 units valued at $380,332,800 from 39 securities on Wednesday.
 Sagicor Select Financial Fund dominated trading with 9.1 million shares for 40 percent of total volume, followed by Wigton Windfarm with 6.6 million units for 29 percent of the day’s trade, and Sagicor Select Manufacturing and Distribution Fund with 2.4 million shares for 10.6 percent of the market’s volume. Sagicor Group with an exchange of 1.5 million shares, for 6.5 percent of the Main Market volume, was the only other stock trading more than one million units.
 The Market closed with an average of 539,395 units for $4,080,352 for each security traded, in contrast to 776,513 units valued at an average of $9,752,123 on Wednesday. The average volume and value for the month to date amounts to 563,186 units at $3,051,311 for each security changing hands, compared to 564,747 units valued at $2,959,713 for each security traded. Trading in December resulted in an average of 595,143 units valued at $9,344,514 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 four closing with lower offers. The PE ratio of the market ended at 19.8, while the Main Market ended at 19.1 times the 2019 earnings.
In the prime market, Caribbean Cement dropped $4.45 to end at $67.56 after trading 108,571 shares, Eppley closed 60 cents lower to $14.40, with 3,543 stock units changing hands, Eppley Caribbean Property Fund lost 96 cents to settle at $38.04, after swapping 500 units. Grace Kennedy climbed $3.99 to end at a 52 weeks’ high of $79, with an exchange of 19,291 shares, Jamaica Broilers declined $1 to $34 in trading 36,873 shares, Jamaica Producers gained $2.61, rising to $25.84 in transferring 12,959 shares. Jamaica Stock Exchange closed $3.40 higher at $34.95, with 59,326 shares changing hands. JMMB Group dropped $2.30 to $45.20, in swapping 109,721 shares, Kingston Wharves plunged $6 to $65 while trading 17,841 units, Palace Amusement lost $1 to settle at $2,789, after an exchange of 70 units. Proven Investments dropped $4.95 to end at $50, with 52,655 shares traded, Sagicor Group declined $5.25 to $64.74 in transferring 1,478,177 shares, Seprod added 50 cents to settle at $49.50 exchanging 23,123 units. Stanley Motta ended at $5.50, after losing 30 cents, with 760,600 units changing hands and Supreme Ventures settled at $23.20, with a loss of 77 cents exchanging 56,451 shares.
Trading in the US dollar market ended with 188,960 units for US$61,283. The market index dropped 6.56 points to close at 234.98. JMMB Group 5.75% preference share gained 38 US cents to end at US$2.10, with 2,000 units changing hands, Margaritaville Turks lost 2.5 US cents to close at 31.5 US cents in exchanging 100 units. Proven Investments lost 2 US cents to close at 32 US cents trading 175,270 shares, Sterling Investments closed at 3 US cents in exchanging 3,000 units and Sygnus Credit Investments gained half of 1 US cent to close at 17.5 US cents after the transfer of 5,590 shares.

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