JSE Main market stocks tumble

Stocks mostly pulled back on the Main Market of the Jamaica Stock Exchange on Monday as investors engaged in moderate trading and sent the market indices into a dive, at the close, and adding to sizeable losses on the first two days of July.
At the close, the JSE All Jamaica Composite Index declined by 6,453.85 points to 408,595.76, the JSE Market Index dropped 5,842.37 points to 372,761.42 and the JSE Financial Index lost 2.05 points to end at 96.26. The average PE Ratio of the Main Market closed at 15.3 based on IC Insider.com forecasted 2020-21 earnings.
The market closed with 43 securities changing hands with the prices of seven stocks rising, 24 declining and 11 trading firm. The market closed with an exchange of 5,526,846 shares accounting for $49,678,898 compared to 11,919,474 units at $95,504,967 on Friday.
Transjamaican Highway led trading with 1.43 million shares for 26 percent of total volume followed by Wigton Windfarm with 853,642 units for 15.5 percent of the day’s trade and Pulse Investments with 822,283 units for 15 percent market share.
The average trade for the day ended at 128,531 units at $1,155,323 in contrast to an average of 290,719 valued at $2,329,389 on Friday. The average volume and value for the month to date amounts to 367,724 units valued at $1,363,982 in contrast to 666,101 units at $3,860,643 on Friday. In Contrast, trading in June resulted in an average of 818,748 units for $7,498,308 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the Main market shows 11 stocks ending with bids higher than their last selling prices and six with lower offers.
At the close of the market, Barita Investments climbed $2.48 to settle at $57.48 trading 2,719 shares, Caribbean Cement declined by $1.50 and ending at $48.50 with investors exchanging 4,361 units, First Rock Capital closed $1 higher at $14, with a transfer of 8,800 stock units. Grace Kennedy dropped by $1 to $56 after trading 25,625, Jamaica Broilers ended 66 cents lower at $28.01, with 13,498 shares changing hands, Jamaica Producers lost 59 cents in ending at $23.50, with the transfer of 10,245 units. JMMB Group shed 99 cents to finish at $30.51 with 219,422 shares crossing the market, Kingston Wharves gained 36 cents and closed at $53.36 in trading 3,673 units, NCB Financial Group declined by 40 cents to end at $135.50 after exchanging 163,040 shares. Portland JSX rose 55 cents to end at $7.90 and trading 20,187 stock units, Sagicor Group declined by $3.89 to $46.10 with a transfer of 23,410 units. Sagicor Real Estate Fund jumped 54 cents to $8.29 with investors trading 69,628 stock units, Salada Foods dropped $3.40 to close at $25 after exchanging 3,775 units, Scotia Group declined by $2.25 to end at $45, in transferring 34,944 stock units and Seprod shed $2.79 to settle at $50.20 with 19,161 units changing hands.
In the preference segment, Productive Business Solutions 9.75% preference share declined by $3 to $104, after investors traded a mere one unit.

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

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