JSE Main Market rises on moderate trading

Trading dipped on the Jamaica Stock Exchange Main Market on Thursday, but the major market indices rose at the close even as declining stocks outnumbered those rising by a decent margin following a 49 percent decline in the volume of stocks traded, with a 22 percent lower value than on Wednesday, after 58 securities were exchanged compared to 59 on Wednesday, with 18 rising, 26 declining and 14 ending unchanged.
A total of 6,869,971 shares were traded for $71,142,724 compared to 13,423,503 units at $91,730,395 on Wednesday.
Trading averaged 118,448 shares at $1,226,599, versus 227,517 shares at $1,554,752 on Wednesday and trading month to date, averaged 173,529 stock units at $2,038,988, compared with 178,757 units at $2,116,105 on the previous day. January closed with an average of 205,236 units at $1,805,558.
Wigton Windfarm led trading with 1.35 million shares for 19.6 percent of total volume followed by Sagicor Select Financial Fund with 1.14 million units for 16.5 percent of the day’s trade and Transjamaican Highway with 967,468 units for 14.1 percent market share.
The All Jamaican Composite Index climbed 2,499.74 points to 378,926.49, the JSE Main Index advanced 1,644.26 points to end at 334,774.24 and the JSE Financial Index gained 0.41 points to end at 79.61.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments fell 52 cents to close at a 52 weeks’ low of $83.48 after an exchange of 85,628 shares, Caribbean Cement gained 99 cents in closing at $58 as investors traded 33,528 units, Caribbean Producers shed $1 to end at a 52 weeks’ low of $9.50 with 194,040 stocks changing hands. GraceKennedy climbed $2 to $79 after a transfer of 187,063 stock units, Guardian Holdings declined $4 to finish at $506 with the swapping of 40 stock units, Jamaica Broilers rallied $1.97 to close at $31.97 after 9,706 units passed through the market. Jamaica Producers shed $1.79 in ending at $20.06 after trading 6,075 shares, JMMB Group advanced $1.60 to $32.30 in switching ownership of 8,541 stocks, Kingston Properties rose 40 cents to $7.40 in exchanging 135,083 units. MPC Caribbean Clean Energy fell $1 to end at $70 with an exchange of 200 shares, NCB Financial advanced $3 to $78 in trading 16,948 stocks, Palace Amusement popped $440 to $2,879 with a transfer of 492 stock units. PanJam Investment fell 60 cents to close at $56.50 with an exchange of 1,120 stocks, Proven Investments lost 45 cents to end at $27.55 as investors swapped 6,091 stock units, Scotia Group rallied $1.22 in closing at $34 with 25,491 shares changing hands. Stanley Motta popped 50 cents to end at $4.50 after 61,156 units crossed the exchange, Supreme Ventures lost 40 cents in closing at $26.10 with investors transferring 14,531 units and Wisynco Group dipped 40 cents to $17.50 trading 353,875 shares.
In the preference segment, Productive Business 10.50% preference share dropped $50 to close at $1,150 with the swapping of 1 stock unit, Eppley 7.25% preference share fell 79 cents to end at $18 after exchanging 3,664 stocks, Jamaica Public Service 7% gained $1 to close at a 52 weeks’ high of $8 after 42 stock units crossed the market. JMMB Group 7.15% – 2028 lost 49 cents in closing at $2.51 in switching ownership of 20,011 units, 138 Student Living preference share dropped $6 to settle at $72 after a transfer of 53 stocks and Productive Business Solutions 9.75% preference share dipped $1 to close at $106 with 18 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.