Wednesday’s nearly 4,000 points gain recorded by the Jamaica Stock Exchange Main Market were wiped out in Thursday’s trading, helped by an unexpected fall in Caribbean Cement third quarter profit, resulting in reduced revenues and a significant drop in profits from $1.44 in the September 2020 quarter to just 5 cents per share this year, leading to a decline in the stock price to a low of $100 and an average of $102.65 and knocking around 3,400 points off the market indices.
The All Jamaican Composite Index dropped 3,915.38 points to 445,859.79, the Main Index fell 3,726.12 points to 403,394.40 and the JSE Financial Index advanced 0.03 points to end at 98.30.
At the close of the market, the volume of shares trading rose 65 percent above Wednesday outcome, but the value was lower by 24 percent as 14,752,654 shares changed hands for $147,324,583 compared to 8,948,387 units at $192,939,993 on Wednesday.
Wigton Windfarm led trading with 18.3 percent of total volume for an exchange of 2.70 million shares, followed by Radio Jamaica with 15.2 percent for 2.25 million units. 1834 Investments was next with 11.5 percent after an exchange of 1.69 million units, Ciboney Group contributed 7.5 percent, with 1.11 million units and Transjamaican Highway held 7 percent after trading 1.04 million units.
Trading ended with 49 securities compared to 50 on Wednesday, with 13 rising, 23 declining and 13 ending unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 15.2. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading averages 301,075 units at $3,006,624 compared to 178,968 shares at $3,858,800 on Wednesday and month to date, an average of 231,162 units at $2,651,067, compared to 227,446 units at $2,632,171 on Wednesday. September closed with an average of 335,669 units at $7,507,404.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, Berger Paints shed 83 cents to close at $14 with the swapping of 220,460 shares, Caribbean Cement declined $3 in closing at $112 in trading 223,557 stock units, after trading most of the shares in the $100 region, Eppley Caribbean Property Fund fell $3.50 to a 52 weeks’ close of $36.50 with 14,060 stocks changing hands. First Rock Capital popped 55 cents to end at $12.40 in switching ownership of 10,637 units, Guardian Holdings dropped $28 to $520 after trading 4,229 shares, Jamaica Broilers lost 50 cents to close at $29.50 with 3,639 stock units crossing the exchange. Jamaica Producers advanced $1.89 to $23.99 with 106,774 units clearing the market, Jamaica Stock Exchange rose 90 cents to $17.50 in transferring 22,770 stocks, JMMB Group lost 50 cents ending at $37.50 in an exchange of 311,546 shares. Kingston Wharves advanced $4 to $47.50 in switching ownership of 5,520 stocks. Mayberry Investments shed 50 cents to close at $5.50 with an exchange of 16,460 stock units, Mayberry Jamaican Equities dipped 49 cents to $8.57 in trading 525,079 units.
NCB Financial fell $1 to $130 with 321,890 stock units crossing the market, Palace Amusement rallied $60 to end at $1,015 with 77 stocks changing hands, PanJam Investment shed 65 cents to $63.75 with the swapping of 35,348 units. Radio Jamaica shed 49 cents ending at $3.31 with 2,248,574 shares crossing the market, Sagicor Group advanced $1.02 to $53.99 in switching ownership of 221,382 stocks, Scotia Group gained 35 cents to close at $35.35 with a transfer of 56,125 units. Sygnus Real Estate Finance spiked 25 cents in closing at $18.30 with an exchange of 3,767 shares and Wisynco Group fell $1.64 to end at $15.86 with 107,458 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.