Trading plunged on the Jamaica Stock Exchange US dollar market on Friday, with the volume of stocks traded dropping 97 percent, with a 98 percent lower value than on Thursday, resulting from an exchange of just three securities, compared with nine on Thursday, with prices of one rising, one declining and one ending unchanged.
The market closed with an exchange of a mere 16,150 shares for a measly US$433, with a plunge from 511,073 stocks at US$25,145 on Thursday.
Trading averaged 5,383 shares at US$144 compared to 56,786 stocks at US$2,794 on Thursday, with a month to date average of 46,984 units at US$2,614, down slightly from 48,875 stocks at US$2,726 on the previous day and September that ended with an average of 127,542 units for US$6,557.
The US Denominated Equities Index advanced 4.80 points to wrap up trading at 193.57. The Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and one with a lower offer.
The P/E ratio, one of the most frequently used measures to determine appropriate stock values, averages 9.2. The P/E is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with the financial year ending around August 2026.
At the close of the market, Productive Business Solutions slipped 1 cent to finish at 73 US cents with a mere 3 shares being traded, Sygnus Credit Investments ended at 7.78 US cents with investors dealing in 58 units and Transjamaican Highway increased 0.09 of one cent to 2.64 US cents with 16,089 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.