JSE majors drop on Wednesday

Trading on the main market of the Jamaica Stock Exchange ended on Wednesday with JSE All Jamaican Composite Index dropping 2,172.55 points to close at 422,891.57 and the JSE Index falling 1,974.21 points to 385,286.24.
At the close market activity, the main and US markets traded 35 securities, compared to 32 securities trading on Tuesday as 10 advanced, 13 declined and 12 traded without changes in prices. Main market activity ended with 2,447,527 units valued $48,782,718 compared to 8,311,096 units valued $195,683,562, changing hands, on Tuesday.
Carreras led trading with 415,956 shares for 17 percent of the day’s volume, Sagicor Real Estate Fund was next with 380,573 units, accounting for 15.6 percent of the total main market volume changing hands and Sterling Investments ended with 281,925 shares, for 11.5 percent of the day’s volume.
Market activity ended with an average of 78,952 units valued at $1,573,636 each, in contrast to an average of 286,590 units valued at $6,747,709 on Tuesday. The average volume and value for the month to date, amounts to 285,064 shares with a value of $12,195,949 and previously, 296,080 shares with a value of $12,795,751. Trading for January resulted in an average of 101,980 units, valued at $3,042,494, for each security traded. IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 8 stocks ending with bids higher than their last selling prices and 3 stocks closed with lower offers.
In main market activity, Caribbean Cement jumped $4 after exchanging 127,778 shares, to end at $54, Eppley fell $2 and ended at $11 trading 5,900 shares, Grace Kennedy rose $1.43 in trading  66,910 stock units to close at $59.95, Jamaica Producers  rose 40 cents and finished trading 97,583 units, at $23.50.  Kingston Wharves lost 50 cents and settled at $77, with an exchange of 1,171 units, Sagicor Group climbed $1.99 trading 76,700 shares to close at $41.99, Salada Foods  shed $2 in trading 1,095 units to close at $34, Scotia Group  fell 50 cents trading 44,406 stock units at $52.50 and Seprod climbed $2.40 trading 27,410 shares to close at $44.40.
Trading in the US dollar market resulted in 141,624 units valued at over $91,276 changing hands. JMMB Group 5.75% preference share closed at $2 trading 2,600 shares, JMMB Group 6% USD preference share traded 13,000 units at US$1.04, Proven Investments rose 0.98 cent in trading 25,455 units, to close at 21.98 US cents and Sygnus Credit Investments exchanged of 40,800 shares at 11 US cents after falling 1 cent. The JSE USD Equities Index rose 0.86 points to close at 173.96.

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