JSE Main Market falters to start June

Market activity started in June, with the Jamaica Stock Exchange Main Market giving back some of the gains enjoyed on Tuesday in closing out May. The volume of stocks traded on Wednesday declined 7 percent and the value dropped 47 percent lower than on Tuesday as rising stocks were fewer than those declining.
The All Jamaican Composite Index lost 1,658.03 points to end at 448,780.16, the JSE Main Index dropped 1,215.87 points to 393,196.70 and the JSE Financial Index shed 0.66 points to settle at 93.31.
Trading ended with 50 securities compared to 53 on Tuesday, with 19 rising, 24 declining and seven ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 17,842,696 shares were traded for $102,253,017 versus 19,187,062 units at $194,339,772 on Tuesday. Trading averages 356,854 units at $2,045,060, compared to 362,020 shares at $3,666,788 on Tuesday. May averaged 238,645 units at $3,561,016.
Wigton Windfarm led trading with 3.72 million shares for 20.8 percent of total volume, followed by JMMB Group 7.5% preference share with 2.74 million units for 15.3 percent of the day’s trade, Transjamaican Highway with 2.69 million units for 15.1 percent market share. Sagicor Select Manufacturing & Distribution Fund ended with 2.32 million units for 13 percent market share and Sagicor Select Financial Fund traded 2.29 million units for 12.8 percent market share.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and six stocks with lower offers.
At the close, Barita Investments shed 90 cents to close at $87.10 while exchanging 169,135 shares, Caribbean Cement rose $1.25 to end at $69.70, with 171,404 stock units crossing the market, Caribbean Producers fell 35 cents in closing at $15.30 as 82,835 units were swapped. Eppley climbed $7.95 in ending at $47.95 in switching ownership of 1,561 stocks, GraceKennedy fell $2.90 to close at $107.60 with an exchange of 18,800 stocks, Jamaica Broilers dropped 50 cents to end at $28, with 132,044 units changing hands. Jamaica Producers popped 30 cents to $22.80 with the swapping of 109 stock units, Jamaica Stock Exchange lost $1.30 in closing at $17.70 with an exchange of 1,000 shares, JMMB Group declined $2 to $45 in exchanging 212,458 stocks. Mayberry Investments lost 45 cents to end at $10 after trading 21,713 stock units, Mayberry Jamaican Equities increased 98 cents to close at $14.48, with 11,508 units crossing the exchange, MPC Caribbean Clean Energy dropped $6.95 in closing at $95.05 after exchanging 72 shares. NCB Financial fell 98 cents to $105.02, with 45,393 units crossing the market, Palace Amusement shed $23.95 to $900 in trading 70 shares, PanJam Investment rose $1.50 to end at $67.50, trading 1,613 stock units. Proven Investments declined 99 cents to $38 in an exchange of 29,227 stocks, Radio Jamaica dropped 35 cents to $2.50, with 336,685 shares clearing the market, Sagicor Group shed $2.99 to end at $55 while exchanging 125,413 stocks. Scotia Group rallied 80 cents in closing at $36.80 after exchanging 2,102 stock units, Seprod gained 48 cents to close at $70.50 after 13,500 units changed hands, Stanley Motta rallied 46 cents to $5.95, with 16,561 units crossing the market. Supreme Ventures climbed 46 cents to close at $29.96 after trading 95,238 shares and Sygnus Credit Investments fell $1.90 in closing at $14 after 611,693 stock units changed hands.
In the preference segment, Productive Business Solutions 9.75% preference share popped $2 after ending at $107 and trading 586 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.