Stocks tumbled towards the close of trading, with the market index sinking 62.30 points to settle at 3,289.82 after the market opened higher, but a sharp cut in prices of several stocks placed pressure on the Jamaica Stock Exchange Junior Market on Wednesday when declining stocks overpowered those rising.
Market activity led to 35 securities trading compared to 33 on Tuesday and ended, with 10 rising, 17 declining and eight closing unchanged. The PE Ratio, a measure used to compute appropriate stock values, drops to an average of 10.9 from 11.5 on Tuesday, based on ICInsider.com’s 2021-22 earnings forecast.
Future Energy Source dominated trading, with 60.7 percent of the total volume of 4.2 million shares, as the price hit a new record high. Lumber Depot followed, with 6.3 percent after an exchange of 438,325 units and Dolphin Cove cleared 6.2 percent, with 431,935 units.
At the close, 61 percent more shares were traded, with 46 percent greater value than on Tuesday as 6,920,986 shares changed hands for $20,719,685, up from 4,285,931 units at $14,189,500 on Tuesday. Trading averaged 197,742 units at $591,991 versus 29,877 at $429,985 on Tuesday. Trading month to date July closed with an average of 163,918 units at $481,755.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial advanced 36 cents to $21 with 500 shares traded, AMG Packaging rose 6 cents to $1.61 with 2,000 stocks changing hands, Consolidated Bakeries dropped 25 cents to $1.60 with a transfer of 3,121 units after the company posted increased losses for the June quarter compared with the similar period in 2020. Dolphin Cove shed 50 cents to close at $9 with an exchange of 431,935 stock units, Elite Diagnostic spiked 5 cents to $3.08 with 253,468 shares passing through the market, Express Catering dropped $1.19 to $4.96 with 102,013 stocks traded. Fontana advanced 26 cents to $6.08 with 225,655 stock units changing hands, Fosrich fell 32 cents to $8.10 with a transfer of 9,898 units, Future Energy Source gained 28 cents to finish at an all time high of $2.10 with an exchange of a market leading 4,198,648 shares. General Accident fell 14 cents to $5.56 with 228,438 stocks traded, Honey Bun rose 8 cents to a 52 weeks’ high of $8.08 with 67,947 units changing hands, iCreate slipped 7 cents to 80 cents with a transfer of 1,700 stock units. 
Iron Rock Insurance shed $1.09 to finish at $3.10 with investors switching ownership of 14,925 shares, Jamaican Teas dropped 27 cents to $3.53 with an exchange of 287,024 stocks, KLE Group slipped 6 cents to $1.17 with 1,100 stock units traded. Lasco Distributors lost 9 cents to close at $3.95 with 28,000 shares changing hands, Lasco Financial fell 14 cents to $3.01 with a transfer of 34,500 units, Lasco Manufacturing shed 40 cents to end at $4.80 with an exchange of 17,189 stocks. Main Event advanced 20 cents to $5 with 505 stock units passing through the market, Medical Disposables lost 12 cents to end at $4.83 with 18,107 units changing hands, Paramount Trading declined 22 cents to $1.03 with investors switching ownership of 21,372 stocks and SSL Venture dropped 17 cents to 63 cents with 10,800 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
