JSE USD Market drops 10% on Tuesday

The US Denominated Equities Index dropped nearly 10 percent after skidding 10.61 points on Tuesday to 232.98 and wiping all the gains recorded for the year to date after trading on the Jamaica Stock Exchange US dollar market ended, with the volume of stocks changing hands plunging 62 percent with the value 29 percent lower than on Friday, resulting in the trading of seven securities, similar to Friday and ended with prices of just two rising, five declining.
A total of 34,722 shares were traded for US$2,213 compared with 91,370 units at US$3,137 on Friday.
Trading averaged 4,960 units at US$316 compared with 13,053 shares at US$448 on Friday, with a month to date average of 46,276 shares at US$1,365 compared with 50,795 units at US$1,480 on the previous trading day, well below trading in September that ended with an average of 73,281 units for US$5,102.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share climbed 0.37 of a cent to close at 4.87 US cents in an exchange of 2,866 shares, Margaritaville lost 1.98 cents to end at 11.02 US cents, with trading of 839 units, Productive Business Solutions declined 20 cents in closing at US$1.60 after trading 220 stock units. Proven Investments popped 0.04 of a cent to 14.69 US cents with investors transferring 373 stocks, Sterling Investments dipped 0.29 of a cent to 1.5 US cents after a transfer of 2,000 units and Transjamaican Highway skidded 0.04 of a cent to 1.68 US cents with a transfer of 27,893 shares.
In the preference segment, JMMB Group 5.75% fell 17 cents in closing at US$2 in switching ownership of 531 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.