Main Market falters on Friday

After rising for two consecutive days, the Jamaica Stock Exchange Main Market ended down on Friday after more stocks fell than rose, with an exchange of 126 percent more shares, with 16 percent less value than on Thursday.
At the close, the All Jamaican Composite Index lost 739.29 points to settle at 406,841.95, the Main Index lost 674.19 points to finish 371,394.93, the JSE Financial Index shed 0.06 points to end at 97.37.
Trading ended with 41 securities changing hands compared to 42 on Thursday and ended with the prices of 11 stocks rising, the prices of 18 declining and 12 with prices remaining unchanged. The average PE Ratio of the market ended at 15.6 based on the IC’s forecast of 2020-21 earnings.
The market closed with an exchange of 9,609,776 shares for $53,167,158 compared to 4,243,411 units at $63,166,132 on Thursday.
Wigton Windfarm led trading with 26.2 percent of total volume with an exchange of 2.52 million shares, followed by Pulse Investments with 24.8 percent for 2.38 million units, Sagicor Select Financial Fund with 15.9 percent after 1.53 million units changed hands and Transjamaican Highway with 11.8 percent in exchanging 1.13 million shares.
Trading concluded with an average of 234,385 units changing hands at $1,296,760 for each security, compared to an average of 101,034 shares at $1,503,956 on Thursday. The average trade for the month to date ended at 239,879 units at $1,628,974 for each security, in contrast to 240,756 units at $1,681,973 on Thursday. Trading for the month to date compares adversely to September’s average of 265,170 at $3,271,625.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows five stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, Barita Investments lost 50 cents to finish at $79.50 after exchanging 24,695 shares, Berger Paints dropped 50 cents to settle at $12 with 500 stock units changing hands, Caribbean Cement gained 38 cents to end at $48.50 with 1,736 stock units passing through the market. Eppley shed $1.75 to close at $19 with 1,435 units trading, First Rock Capital fell 50 cents to finish at $12.40 with investors transferring 29,575 stocks, Key Insurance rose 57 cents to settle at $9.50 with an exchange of 38,491 stocks. Kingston Wharves dropped $1.90 to end at $47 with 13,114 stock units changing hands, Mayberry Investments gained 58 cents to close at $5.95 trading 11,797 shares, MPC Caribbean Clean Energy declined $1 to finish at $169 with investors transferring 59 stock units. PanJam Investment climbed 50 cents to settle at $70.50 with 1,000 units passing through the market, Pulse Investments fell 38 cents to end at $4.20 with an exchange of 2,378,564 stock units, Scotia Group lost $1.47 to close at $48.50 with 13,037 stocks changing hands. Seprod dropped 49 cents to settle at $55.50 after trading 14,388 stock units and Wisynco Group climbed 84 cents to finish at $16.19 with 10,818 units crossing the exchange.

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

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