JSE slips with 2 advances to 1 decline

Advancing Jamaica Stock Exchange stocks doubled declining ones but that did not stop the market indices from falling for the second day of trading with the All Jamaican Composite Index losing 1,445.53 points to close at 547,619.84 and the JSE Index dipping 1,377.67 points to 498,535.38.
The recently created JSE Financial Index slipped 0.53 points to close at 136.09 points as trading ended with 39 securities changing hands in the main and US dollar markets. At the close 20 stocks advanced, 10 declined and 9 traded firm. Main market activity ended with 35 securities trading, resulting in 21,914,251 units valued at $146,471,455 in contrast 29,682,285 units valued at $61,647,404 from 35 securities trading on Tuesday.
Wigton Windfarm led trading with 10.2 million units for 47 percent of total volume, followed by Sagicor Select Funds with 7.1 million shares for 33 percent of the market’s trade and Carreras 1.1 million units accounting for 5 percent of the day’s trade.
The market closed with an average of 626,121 units valued at $4,184,899 for each security traded, in contrast to 848,065 units for an average of $1,761,354 on Tuesday. The average volume and value for the month to date amounts to 907,175 shares at a value of $13,714,670 for each security traded and previously 924,647 shares at $14,346,378 for each stock traded. The market closed September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer reading shows 13 securities ended with bids higher than their last selling prices and 3 with lower offers. The PE ratio of the market ended at 16.5 with the main market ending at 17.1 times 2019 current year’s earnings.
In main market activity, Eppley Caribbean Fund gained $1.50 to close at $39.50, exchanging 5,650 shares, Grace Kennedy rebounded to close at $68.35, after advancing $2.30 trading 13,359 shares, Jamaica Producers closed 31 cents higher to $21.51 with just 100 shares changing hands, JMMB Group closed at $42, after gaining $1 in swapping of 100,100 shares. Kingston Properties gained 60 cents to settle at $5.90 with 200 shares crossing the exchange, Kingston Wharves closed 53 cents higher to $60.53 in trading 250 shares, Mayberry Investments lost 32 cents, ending at $7.98 after exchanging 35,999 shares. NCB Financial jumped $4 on the previous day’s closing trade to settle at $205 in swapping 116,828 shares, PanJam Investment fell $1.86 to $100, after trading 458,034 shares, Sagicor Group gained 45 cents to close at $67, with 51,000 shares changing hands. Salada Foods advanced by $3 to $28, in exchanging 1,000 shares, Scotia Group slipped by $1, in ending at $56 with 30,862 shares trading, Seprod closed $2.80 higher at $53.82 in exchanging 10,666 shares. Supreme Ventures gained 85 cents, after closing at $26 with 7,832 shares changing hands and Sygnus Credit Investments lost 30 cents to settle at $22 with 61,665 shares crossing the exchange.
Trading in the US dollar market ended with 82,142 units valued at $19,621 and the market index gained 0.05 points to close at 196.78. At the close, Proven Investments traded 63,000 units to close at 27 US cents, Sygnus Credit Investments ended the day’s trade at 14 US cents, after gaining a fraction of a US cent with 16,950 shares changing hands, Sterling Investments exchanged 2,000 units at 3 US cents and JMMB 6 % preference share gained 2 cents to close at US$1.01 with just 192 shares changing hands.