JSE USD Market plunges

The JSE US Denominated Equities market suffered a major reversal in trading on Friday, with the market index plunging 29.58 points to 227.27 after the major rise earlier in the week resulting from a big move by Productive Business Solutions was reversed and Proven Investments falling to a 52 weeks’ low as trading ended, with the volume of stocks exchanged rising 174 percent, valued 222 percent more than Thursday’s trades and resulting in an exchange of 10 securities, the same as on Thursday and ended with two rising, two declining and six unchanged.
A total of 182,935 shares were traded for US$22,001 compared to 66,713 units at US$6,828 on Thursday.
Trading averaged 18,294 units at US$2,200, versus 6,671 shares at US$683 on Thursday, with month to date average of 28,308 shares at US$3,437 versus 29,309 units at US$3,560 on the previous day. October ended with an average of 40,972 units for US$2,277.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and none with lower offers.
At the close, First Rock Real Estate USD share dipped 0.5 of a cent in closing at 7.1 US cents with an exchange of 20,000 shares, Productive Business Solutions remained at US$1.70 while exchanging ten stocks, Proven Investments lost 1.41 cents to end at a 52 weeks’ low of 17.21 US cents and closed with an exchange of 23,176 units. Sterling Investments rallied 0.1 of a cent to 2 US cents, with 105,000 stock units changing hands, Sygnus Credit Investments J$ share ended at 14.62 US cents, with investors exchanging three units, Sygnus Real Estate Finance USD share ended at 11 US cents with a transfer of 8,321 shares and Transjamaican Highway remained at 0.92 of one US cent after an exchange of 17,902 stock units.
In the preference segment, Productive Business 9.25% preference share advanced 90 cents to end at US$11.90 after 20 stocks passed through the market, Eppley 6% preference share remained at US$1.13 after a transfer of 3 shares and JMMB Group 5.75% ended at US$1.50 in switching ownership of 8,500 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.