JSE Main market suffers big drop

Jamaica Stock Exchange Main Market suffered the first decline in since the April 2 with the JSE All Jamaican Composite Index tumbling 7,508.92 points to 435,396.84, the JSE Market Index diving 6,816.76 points to 396,872.92 and the JSE Financial Index losing just 0.98 points to close at 108.36.
The market closed with 50 securities changing hands in the Main and US dollar markets with prices of nine stocks advancing, 28 declining and 13 securities trading firm. The JSE Main Market activity ended with 44 securities accounting for 53,531,710 units valued at $153,340,745, in contrast to 21,215,763 units valued at $102,509,485 from 46 securities on Tuesday.
Trans Jamaican Highway led trading with 40 million shares for 75 percent of total volume followed Sagicor Select Financial Fund with 4 million units for 7.4 percent of the day’s trade, and Wigton Windfarm with 3.8 million units for just over 7 percent of market share. QWI Investments, the only other stock trading more than one million units, ended the day with 1.06 million stock units.
The Market closed with an average of 1,216,630 units valued at an average of $3,485,017 for each security traded, in contrast to 461,212 units valued at an average of $2,228,467 on Tuesday. The average volume and value for the month to date amount to 779,477 units valued at $3,967,296 for each security changing hands, compared to 728,184 units valued at $4,031,021 for each security traded. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows four stocks ending with bids higher than their last selling prices and five stocks closing with lower offers. The PE ratio of the market ended at 14.4, while the Main Market ended at 14.7 times 2020/21 earnings.
In Main Market trading, Barita Investments closed at $56.51, with a loss of 99 cents in transferring 26,609 units, First Rock Capital shed 44 cents to end at $10.56, in swapping 20,922 units, Jamaica Producers gained 34 cents trading 31,233 units to finish at $20.49. Jamaica Stock Exchange closed $1.14 lower at $23.60, with 106,460 shares changing hands, JMMB Group ended at $36.01, with gains of $2.99 in exchanging 138,488 shares, Kingston Wharves lost 42 cents and closed at $43.58, after trading 32,042 units. Mayberry Jamaican Equities finished at $8.40, with a loss of 59 cents in swapping 72,635 shares, MPC Caribbean Clean Energy closed $1 lower to $183, in an exchange of 300 units. NCB Financial Group declined by $2 to $156 transferring 98,627 shares, PanJam Investment picked up 83 cents to close at $76.83, after trading 24,331 units, Proven Investments climbed $2.95 to $37 after exchanging 940 units. Sagicor Group dropped $2.98 to end at $50.52, after trading 179,780 shares, Sagicor Real Estate Fund gained 41 cents to close at $7.99, with 41,292 units changing hands. Salada Foods closed at $33.45, after climbing $5.05 in swapping a mere 120 units. Scotia Group shed 45 cents to finish at $47.50 in transferring 17,694 units, Seprod lost $3 to end at $44, with an exchange of 33,846 units, Stanley Motta lost 65 cents to close at $5, in swapping 36,575 stock units. Supreme Ventures dropped $1.99 to $17, after trading 131,365 shares, Victoria Mutual Investments ended at $7.80, with a loss of $1.20 in transferring 518,294 shares and Wisynco Group fell by $2.49 to $17, with 667,525 shares changing hands.

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

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