Main Market back at Mid-April close

Market indices bounced for the Jamaica Stock Exchange Main Market on Friday to sit a fraction below the April 17 close, but is still 24 percent lower than the start of the year, but closed with 362 percent more shares traded than Thursday but with more than twice the number of stocks declining as advancing.

Main Market index displaying bullish formation

The market continues to maintain the bullish mood that has been slowly building since the summer months as the market, closing, as the All Jamaican Composite Index climbed 1,286.30 points to 425,748.98, the Main Index rose 1,154.92 points to 388,463.43, but the JSE Financial Index lost 0.12 points to settle at 102.51.
Trading ended with 36 securities changing hands compared to 37 on Thursday and closed with the prices of nine rising, 19 declining and eight remaining unchanged. The average PE Ratio ended at 15.6 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 44,980,918 shares for $1,341,663,306  compared to 9,736,055 units at $369,213,753 on Thursday.
Sagicor Manufacturing & Distribution Fund led trading with 33.4 percent of total volume, after exchanging 15 million shares followed by QWI Investments with 32.7 percent for 14.7 million units, NCB Financial with 18.9 percent for 8.5 million units. Transjamaican Highway controlled 4 percent market share, with 1.78 million units Sagicor Select Financial Fund accounted for 3.7 percent with 1.65 million units and Wigton Windfarm controlled 3.5 percent of the market with 1.57 million units.
The average traded was 1,249,470 units at $37,268,425 for each security, compared to an average of 263,137 shares at  $9,978,750 on Thursday. The average trade for the month to date ends at 324,765 units at $7,272,017 for each security, in contrast to 267,957 unit at $5,429,235. October averaged 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 10 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Berger Paints gained 30 cents to close at $11.85 exchanging 33,440 shares, Caribbean Cement declined by $3.32 to end at $56.67, in trading 2,579 stock units, Jamaica Broilers shed 50 cents to settle at $27, after crossing the market with 4,824 units. Jamaica Producers fell $2.05 to $19.70, with 7,450 stock units changing hands, Key Insurance shed 85 cents to close at $7.30, trading 2,602 units, Kingston Wharves climbed $3.90 to settle at $48.90, with investors swapping 1,662 stock units. MPC Caribbean Clean Energy dropped $7.01 in closing at $138 trading 836 units, Pan Jam Investment closed at $65, with gains of $1.76, trading 147,995 shares, Proven Investments shed 50 cents in closing at $38, with 10,286 stock units changing hands. Sagicor Group finished at $48, after losing 50 cents exchanging 151,507 shares and Scotia Group rose 80 cents to settle at $46 trading 5,512 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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