JSE Main Market gives up recent gains

The Jamaica Stock Exchange Main Market gave up all then gains over the last two days and more at the end of trading on Tuesday with the market declining after more stocks fell than rose as investors exchanged 30 percent more shares at 68 percent greater value than on Monday.
At the close, the All Jamaican Composite Index plunged 7,196.97 points to 400,671.99, the Main Index dived by 6,519.21 points to settle at 365,673.87 and the JSE Financial Index shed 1.97 points to end at 96.55.
Trading ended with 40 securities changing hands compared to 42  securities on Monday and it ended with the prices of 14 stocks rising, the prices of 18 declining and eight remaining unchanged and the average  PE Ratio of the market ended at 15.3 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 15,897,876 shares for $260,424,238  compared to 12,210,225 units at $154,837,388 on Monday.
Carreras led trading of 4.98 million shares for 31.3 percent of total volume followed by Wigton Windfarm, with 2.92 million units for 18.4 percent of the day’s trade and Grace Kennedy with 2.72 million units for 17.1 percent market share. Transjamaican Highway was the only other stock to exceed a million shares and ended with 2.12 million units changing hands.
Trading ended or the day with an average of 397,447 units changing hands at $6,510,606 for each security, in comparison to an average of 290,720 shares at $3,686,604 on Monday. The average trade for the month to date ended at  446,707 units at $2,885,266 for each security, in contrast to 449,733 units at $2,662,511. Trading month to date compares well to July with an average of 392,128 shares for $2,444,356.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 9 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Eppley advanced by $1 to close at a 52 weeks’ high of $22, with investors switching the ownership of 116,847 shares, Grace Kennedy increased 49 cents to end at $56.49 trading 2,722,991 units, Jamaica Broilers Group fell $1.50 in closing at $23.50 in exchanging 1,895 stocks. Jamaica Producers Group lost 50 cents to close at $20 with investors swapping 2,147 shares, JMMB Group climbed 44 cents to $30.47 while exchanging 20,425 stock units. Key Insurance shed 70 cents to close at $7.69 and finished trading 75,312 stocks, NCB Financial Group carved out a loss 50 cents in closing at $138.50 while 207,362 stock units changed hands, 138 Student Living carved out a loss 32 cents to close at $5.50 after exchanging 330,439 shares.  Proven Investments rose $2 to end at $38 in trading 37,208 stocks. Scotia Group lost 51 cents to end at $45, with  282,290 stock units passing through the market and Seprod declined $3.49 to settle at $51.01 in exchanging 290,603 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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