JSE Main Market rises on low volume

Trading activity slipped on the Jamaica Stock Exchange Main Market on Monday, with the volume of stocks traded declining moderately and the value 29 percent lower than on Friday, after investors traded 56 securities compared to 55 on Friday, with 20 rising, 19 declining and 17 ending unchanged.
A total of 11,476,890 shares were exchanged for $39,035,763 versus 11,772,290 units at $54,877,421 on Friday.
Trading averaged 204,944 shares at $697,067, compared with 214,042 shares at $997,771 on Friday and month to date, an average of 239,420 units at $1,700,474, compared to 246,147 units at $1,896,261 on the previous day. trading in April closed with an average of 264,549 units at $1,409,410.
Wigton Windfarm led market with 5.57 million shares for 48.5 percent of the volume, Transjamaican Highway was next with 1.34 million units for 11.7 percent of the day’s trade, Salada Foods ended with 1.07 million units for 9.3 percent of market share and Ciboney Group with 1.03 million units for 9 percent of total volume. Increased trading in Transjamaican Highway and Wigton Windfarm has been sucking supplies out of the market and setting the prices up for more gains in the coming weeks.
The All Jamaican Composite Index rallied 741.69 points to 372,452.61, the JSE Main Index climbed 2,274.28 points to 337,144.99 and the JSE Financial Index shed 0.07 points to close at 76.62.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last selling prices of stocks and 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 10 stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Barita Investments lost 81 cents in closing at $77.98 after 3,196 shares crossed the exchange, Caribbean Cement dipped $1.46 to close at $52.51 as investors traded just 816 units, Caribbean Producers shed 56 cents to close at $10 with investors transferring 27,089 stocks, supply around current prices seems limited, suggesting higher prices are ahead. GraceKennedy climbed $2 to $78 with an exchange of 58,360 stock units, Guardian Holdings advanced $15 to end at $510 in trading 343 units, Jamaica Broilers gained $1.52 in closing at $37.22 in switching ownership of 2,932 stocks, JMMB Group popped 40 cents to $30 with shareholders exchanging 31,506 shares. Key Insurance rose 50 cents and ended at $3.65 after just 1 stock unit was traded, Kingston Wharves increased $2.40 to close at $32.90, with 5,548 stock units changing hands, Massy Holdings rallied $3 to end at $98, with 4,590 shares crossing the market, Mayberry Jamaican Equities dipped 85 cents to $10 after an exchange of 211,881 stocks. 138 Student Living declined 34 cents to $5.01 while exchanging 2,650 units, Sagicor Group fell $1.97 to close at $48.03 after a transfer of 70,552 shares, Scotia Group shed 85 cents in closing at $34 with a transfer of 9,525 units, Seprod rallied 50 cents to end at $70.50 as 9,753 stock units passed through the market. Stanley Motta gained 36 cents to close at $5.56, with 2,081 stocks clearing the market, Supreme Ventures lost 35 cents in closing at $27.65 with shareholders swapping 17,945 stocks and Sygnus Real Estate Finance rose $2.29 to $11.80, with 3,078 shares crossing the market.
In the preference segment, Productive Business 10.50% preference share increased $50 to end at $1200, with an exchange of 300 units, Eppley 7.50% preference share declined 70 cents and ended at $6.20 after investors traded 3,488 stock units. Eppley 7.75% preference share advanced $2.21 to $19.75 in an exchange of 84 stock units, Jamaica Public Service 7% fell $15 ended at $60 as investors exchanged 11,187 shares and 138 Student Living preference share jumped $15.67 in closing at $120.17 with investors transferring a mere 4 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.