The Jamaica Stock Exchange Main Market on Tuesday suffered the biggest fall of the market index in the JSE 50 year history as nervous investors cut 8.7 percent of the value of stocks since the commencement of the year.
At the close, the JSE All Jamaican Composite Index plunged 14,424.69 points to close at 511,165.47. The previous biggest fall in the JSE Composite index was 12,616.74 points on October 18, 2018. The JSE Market Index nose-dived 13,201.50 points to 465,317.12 and the JSE Financial Index dropped 3.55 points to 125.59.
The market closed with 44 securities changing hands in the Main and US dollar markets with the prices of 15 advancing, 21 declining and 8 trading firm. The JSE Main Market activity ended with 41 securities accounting for 29,930,856 units valued at $203,577,617 in contrast to 32,117,425 units valued at $138,131,956 from 41 securities on Monday.
Sagicor Select Financial Fund dominated trading with 11.1 million shares for 37 percent of total volume, followed by Wigton Windfarm with 8.9 million units for 30 percent of the day’s trade and Sagicor Select Manufacturing and Distribution Fund with 3.6 million units for 12 percent of the market’s volume. The only other stock trading more than one million shares, was Wisynco Group, with 1.7 million units.
The Market closed with an average of 767,458 units valued at an average of $5,219,939 for each security traded, in contrast to 783,352 units valued at an average of $3,369,072 on Monday. The average volume and value for the month to date amount to 775,604 units valued at $4,271,370 for each security changing hands. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and five closing with lower offers. The PE ratio of the market ended at 18.1, while the Main Market ended at 17.4 times the 2019 earnings.
In the Main Market, Barita Investments advanced $2 to $68, in trading 12,797 shares, Berger Paints closed $2.25 higher to $15, in transferring 700 units, Caribbean Cement dived $6.50 to end at $65, with an exchange of 213,258 shares, Eppley Caribbean Property Fund shed $4.49 to close at $37.51, in swapping a mere 9 units. First Rock Capital lost 65 cents and closed at its lowest level since listing in late February at $9.25, after it traded at a new low of $8.50, earlier in the day. The stock closed trading with 131,575 shares changing hands. Grace Kennedy gained $1.93 to finish at $67.92, after transferring 66,535 shares, Jamaica Broilers shed $1.50 to end at $34.50, with 399,300 shares changing hands. Jamaica Producers lost 86 cents trading 126,071 shares and closed at $21.14. Jamaica Stock Exchange settled at $26.51, with a loss of 99 cents with 716,481 stock units crossing the market, JMMB Group ended at $42.28, with gains of $1.53 after transferring 367,626 shares, Kingston Wharves closed $2 higher to $53, with 7,243 shares traded. Mayberry Investments lost 31 cents to end at $7.60, exchanging 21,212 units, PanJam Investment finished 99 cents lower trading 60,990 to close at $99, Proven Investments dropped $3.50 to settle at $44.50, in transferring 8,583 units, Pulse Investments lost 45 cents to close at $11, after swapping 85,736 shares. Sagicor Group shed $1.50 to end at $65, with an exchange of 167,791 shares. Sagicor Real Estate Fund closed at $9.85, with gains of 35 cents while trading 20,603 stock units, 
Scotia Group ended at $54.01, after losing 49 cents and transferring 92,235 shares, Sterling Investments ended at $3, with a loss of 60 cents as 71,000 shares crossed the exchange. Supreme Ventures climbed $1.35 to settle at $22.35, in swapping 153,799 shares, Sygnus Credit Investments lost 50 cents to finish at $24.50, after trading 30,562 units and Victoria Mutual Investments gained 45 cents to end the day’s trade a $8.50, with 188,051 shares changing hands.
Trading in the US dollar market ended with 65,482 units valued at over US$14,632. The market lost 0.34 points to close at 220.79. First Rock Capital lost 1.9 cents after trading 9,921 units at a new low of 8 US cents, JMMB Group 6% preference share exchanged 520 units at US$1, Proven Investments closed at 29 US cents, with 28,291 units changing hands. Sterling Investments swapped 790 units at 2.85 US cents and Sygnus Credit Investments closed at 18 US cents, with a loss of 1.5 cents after trading 25,960 shares.
Prices of securities trading for the day are those at which the last trade took place.
