JSE Main Market in big recovery

Stocks surged on Wednesday to erase most of Tuesday’s sharp fall on the Main Market of the Jamaica Stock Exchange as advancing stocks just outnumbering declining ones.
At the close, JSE All Jamaican Composite Index advanced 6,965.33 points to close at 552,785.17, the JSE Market Index gained 6,206.67 points to 503,311.77 and the JSE Financial Index rose 1.34 points to close at 136.27.
The market closed with 40 securities changing hands in the main and US dollar markets with 15 advancing, 14 declining and the prices of 12 closed unchanged. Main market activity ended with 37 securities accounting for 26,501,648 units for $237,434,671, in contrast to 9,259,581 units valued at $69,761,481 on Tuesday from 38 securities.
138 Student Living dominated trading with 13 million shares for 49 percent of the day’s trade followed by Sagicor Select Funds with 4.5 million shares and 17 percent of volumes traded and Wigton Windfarm with 3.9 million shares for 14.7 percent market share.
The market closed with an average of 716,261 units at $6,417,153 for each security traded, in contrast to 255,401 units valued at an average of $1,835,828 on Tuesday. The average volume and value for the month to date amounts to 359,075 units valued at $5,438,139 units for $5,438,139 and previously, an average of 383,292 units valued at $5,297,192 for each security changing hands. The market closed out November with an average of 653,621 units valued at $8,699,916 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 2 with lower offers. The PE ratio of the market ended at 19.1, with the JSE Main Market ending at 18.8 times the current year’s earnings.
In the prime market, Barita Investments lost 50 cents to settle at $70, with an exchange of 7,942 shares, Berger Paints gained $1.90 to close at $18.40 trading 4,810 shares, Caribbean Cement lost 50 cents to end at $76, with 855 units changing hands, Eppley Caribbean Property Fund slid $1.30  to $38.20, after transferring 1,200 shares. Eppley closed 95 cents lower to $14, in switching ownership of 15,290 shares, Jamaica Broilers added $1.73 to end at $38.10, with 30,558 shares crossing the exchange, Kingston Wharves gained $1.50 to settle at $61, in trading 5,888 units, Mayberry Investments lost 60 cents to end at $9, with 3,060 units changing hands. MPC Caribbean Clean Energy dived $30 to $200, after exchanging a mere 150 units, NCB Financial Group gained $2 to close at $199, in swapping 93,674 shares. 138 Student Living dropped $1.22 to close at $3.80, with 13,020,000 shares crossing the exchange, Proven Investments lost $3.05 to settle at $44.45, in trading 19,416 units, Pulse Investments closed with a gain of 30 cents at $4.85, with 69,492 units changing hands and Scotia Group gained 50 cents to settle at $57.50, in transferring 19,585 shares.
Trading in the US dollar market closed with 358,568 units valued at US$108,806, with the market index climbing 1.67 points to 212.77. Margaritaville traded at a 52 weeks’ high of 30 cents after rising 3 cents with 100 units changing hands, Proven Investments exchanged 234,488 to close with a loss of 2 cents at 30 US cents, Sygnus Credit Investments exchanged 103,080 shares at 14 US cents and JMMB Group 6% preference share closed at US$1.01, with 21,000 units changing hands.