JSE Main Market plunged

Stocks plunged on Jamaica Stock Exchange Main Market on Monday, sending the market indices sharply lower by the close after the volume of stocks traded rose 174 percent and the value surged 587 percent over Friday’s levels, with trading in 55 securities compared with 57 on Friday, ending with prices of 16 stocks rising, 29 declining and 10 ending unchanged.
The market closed on Monday with an exchange of 25,850,445 shares at $206,255,781 compared to 9,443,669 units at $30,041,719 on Friday.
Trading averaged 470,008 shares at $3,750,105 compared to 165,678 units at $527,048 on Friday and month to date, an average of 962,588 units at $2,406,562 compared with 991,657 units at $2,327,275 on the previous trading day and February that closed with an average of 385,143 units at $3,418,046.
General Accident led trading with 12.0 million shares for 46.4 percent of total volume followed by Transjamaican Highway with 6.55 million units for 25.3 percent of the day’s trade, Sagicor Group chipped in with 1.33 million stocks for 5.1 percent of market share and Proven Investments with 1.0 million units for 3.9 percent of total volume.
The All Jamaican Composite Index dropped 4,751.24 points to 363,559.46, the JSE Main Index sank 5,752.15 points to end at 323,170.52 and the JSE Financial Index lost 1.80 points to 69.21.
The Main Market ended trading with an average PE Ratio of 13.5. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement fell $1 to close at $56 after34,423 stocks passed through the market, Guardian Holdings skidded $18 to $351 with an exchange of 415 units, Jamaica Broilers lost 31 cents to end at $33.09, with 17,995 shares crossing the market. Jamaica Stock Exchange shed 38 cents in closing at $10.02 with traders dealing in 22,631 stock units, JMMB Group popped 50 cents and ended at $25.50 in switching ownership of 160,816 shares, Kingston Properties climbed 43 cents to $7.50, with 272,880 units crossing the exchange. Kingston Wharves dropped $3.32 and ended at $29.05 with investors swapping 241 stocks, Mayberry Jamaican Equities sank 88 cents in closing at $9.90, with 1,370 stock units crossing the market, NCB Financial declined 50 cents to close at $66.50 with trading of 177,410 shares. Pan Jamaica rose 92 cents to end at $51 after an exchange of 20,113 stock units, Proven Investments dipped $1.60 to $22 with investors trading 1,003,200 stocks, Sagicor Group advanced 75 cents to end at $41.25 after an exchange of 1,329,774 units. Scotia Group gained $1.15 in closing at $47.15 with investors dealing in 20,811 shares and Sygnus Real Estate Finance fell $1.01 to close at $10 after a transfer of 833 units.
In the preference segment, Eppley 7.50% preference share skidded 88 cents and ended at $5.02 while exchanging 8,045 stocks. Jamaica Public Service 9.5% increased $51 to $2,900 with investors transferring 4 stock units, JMMB Group 7.15% – 2028 sank 34 cents to close at $2.76 in an exchange of 50,259 shares and Productive Business Solutions 9.75% preference share dropped $10 in closing at $105 after 7 stocks changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.