JSE majors break losing streak

Rising stocks edged out decliners on Friday, sending the Main Market of the Jamaica Stock Exchange higher at the close with a slightly higher value of trades than on Thursday and disrupted the market decline of the previous four days.  
At the close, the JSE All Jamaican Composite Index advanced 962.01 points to close at 532,029.73, the JSE Market Index gained 855.61 points to 484,443.02 and the JSE Financial Index lost 0.58 points to 130.96.
The market closed with 40 securities changing hands in the Main and US dollar markets with the prices of 15 advancing, 13 declining and 12 trading firm. The JSE Main Market activity ended with 37 securities accounting for 33,972,337 units valued at $135,349,407 in contrast to 49,111,069 units valued at $124,613,707 from 41 securities on Thursday.
Wigton Windfarm dominated trading with 12 million shares for 35 percent of total volume, followed by Sagicor Select Financial Fund with 10.7 million units for 31.5 percent of the day’s trade and Sagicor Select Manufacturing and Distribution with 4.7 million shares for 14 percent of the market’s volume after the stock hit an intraday low of 80 cents. The only other stocks trading more than one million units were QWI Investments with 3 million units with the price trading at an intraday low of 80 cents and Scotia Group with 1.2 million shares.
The Market closed with an average of 918,171 units for $3,658,092 for each security traded, in contrast to 1,197,409 units valued at an average of $3,035,972 on Thursday. The average volume and value for the month to date amount to 715,931 units valued at $2,747,993 for each security changing hands compared to 669,453 units valued at $2,538,839 for each security traded. Trading in January resulted in an average of 626,134 units valued at $3,511,981 for each security.
 IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and four closing with lower offers. The PE ratio of the market ended at 19.4, while the Main Market ended at 18.6 times 2019 earnings.
In the prime market, Berger Paints gained 50 cents to close at $17 after trading 2,616 stock units, Caribbean Cement climbed $1.85 to $69, with 4,574 shares changing hands, Eppley Caribbean Property Fund lost 46 cents after swapping 550 units and closed at $37.04. Grace Kennedy lost of 90 cents and settled at $68.60, in transferring 8,617 shares, Jamaica Broilers ended 99 cents lower to $33.01, in exchanging 29,612 shares. Jamaica Stock Exchange slid $2 to $29, after trading 54,034 shares, Kingston Wharves added $2.54 to end at $66.01, with an exchange of 1,366 units, Mayberry Investments closed 40 cents lower to $7, in swapping 37,457 shares. Mayberry Jamaican Equities gained 40 cents to settle at $11, after transferring 53,346 shares, MPC Caribbean Clean Energy advanced $4.50 to end at $194.50, in trading 200 units, NCB Financial lost $5 to close at $182, with 54,453 shares changing hands. PanJam Investment lost 49 cents to settle at $99.51, in an exchange of 4,947 units, Proven Investments slipped 80 cents to $46.20, trading 11,741 units, Pulse Investments closed at $7, losing 50 cents after hitting a record high of $8.50 with a transfer of 76,200 shares. Sagicor Group closed 50 cents lower to end at $66, with 51,954 shares changing hands, Sagicor Real Estate Fund ended 60 cents higher at $9.60 after trading 600 units, Scotia Group transferred 1,208,696 shares to close at $54.50, after gaining $1.50. Sygnus Credit Investments closed 50 cents higher to end at $25, with 13,607 shares changing hands and Wisynco Group shed 94 cents to end at $21.56, in swapping 339,994 shares.
Trading in the US dollar market ended with 32,514 units valued at over US$9,281. The market index advanced 10.01 points to close at 230.58. JMMB Group 6% preference share traded 2,095 units at US$1, Proven Investments gained 2.5 cents to close at 31 US cents, with 14,850 units changing hands and Sygnus Credit Investments closed at 18 US cents, after transferring 15,569 units.

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