JSE Main Market squeezes out gains

Investors pushed the majority of stocks trading on the Main Market Jamaica Stock Exchange, down on Thursday with the market indices squeezing out meager gains at the close on a day when trading volume declined sharply from Wednesday’s high volume trading.
At the close, the JSE All Jamaican Composite Index advanced 219.97 points to 415,758.15, the JSE Market Index rose 199.13 points to 379,243.55 and the JSE Financial Index gained 0.17 points to close at 98.38. The PE ratio of the market ended at 15, while the Main Market ended at 15.5 times ICInsider.com projected 2020-21 earnings.
The market closed with 47 securities changing hands in the Main and US dollar markets with prices of 12 stocks advancing, 23 declining and 12 securities trading firm. The JSE Main Market activity ended with 42 securities accounting for 13,491,484 units at $103,617,587, in contrast to 359,330,187 units for $1,020,073,564 from 43 securities on Wednesday.
Wigton Windfarm led trading with 4.4 million shares for 32.5 percent of total volume followed by Trans Jamaican Highway with 3.5 million units for 26.3 percent of the day’s trade and JMMB Group with 1.1 million units for 8.3 percent market share.
An average of 321,225 shares traded at $2,467,085, for each security on Thursday, in contrast to 8,356,516 units at an average of $23,722,641 on Wednesday. The average volume for the month to date ended at 813,827 units at $7,465,362 for each security changing hands, compared to 840,420 units with an average value of $7,750,590. Trading in May resulted in an average of 475,543 units valued at $3,077,280 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows fifteen stocks ending with bids higher than their last selling prices and five stocks closing with lower offers.
In the Main Market, Barita Investments advanced $1.10 to close at $51.50, in exchanging 165,319  shares, Berger Paints fell by $1.30 to end at $12.20, having swapped 3,936 units, Caribbean Cement dropped $1.47 to $49.50 trading 13,761 stock units. Eppley Caribbean Property Fund declined $1.42 and ending at $42.55 exchanging 100 shares, Grace Kennedy shed 50 cents to close at $57.50, with the transfer of 54,856 shares, Jamaica Broilers declined by $1.74 to $28 in the swapping of 28,443 stock units. Jamaica Stock Exchange ended at $20.10, having lost $1.87 and trading 10,420 units, JMMB Group shed 32 cents to settle at $33.01, with 1,082,918 shares changing hands, Key Insurance gained 45 cents after closing at $4.95 in swapping 20,000 shares, Kingston Wharves fell $1.48 to finish at $56.01 trading 5,353 units. Mayberry Investments closed 35 cents lower at $5.65 exchanging 220 units, Mayberry Jamaican Equities settled at $10, with a loss of 50 cents in transferring 104,953 shares. NCB Financial Group ended at $141.19, after losing $1.81 and exchanging 34,458 stock units, 138 Student Living lost 41 cents to close at $6.31, with 503 units changing hands. Pan Jam Investment  declined by $2.20 to end at $73, having swapped 9,414 stock units, Sagicor Group climbed $1 to $47, with 133,260 shares crossing the market, Salada Foods fell by $1 to settle at $29, after 2,216 units crossed the exchange. Scotia Group  finished $3.85 lower at $43.65, with a transfer of 53,399 shares, Seprod dropped $1.80 trading7,154 units and closed at  $51.20,  Victoria Mutual Investments gained 30 cents, ending at $7.90 with an exchange of 219,564 shares and Wisynco Group picked up 66 cents trading940,749 shares to end at $18.23.

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

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