Main Market glides into weekend

Trading resulted in a 50 percent decline in the volume of stocks trading with a 32 percent fall in the value compared, with trading on Thursday, on the Jamaica Stock Exchange Main Market on Friday, following trading in 57 securities compared with 51 on Thursday and ending, with 19 rising, 18 declining and 20 ending unchanged.
On Friday 5,259,080 shares were traded for $54,075,283 compared to 10,619,694 units at $79,408,765 on Thursday.
Trading averaged 92,265 shares at $948,689 compared to 208,229 units at $1,557,035 on Thursday. Trading for the month to date, averages 138,081 stocks at $1,017,876, down from 147,509 units at $1,032,113 on the previous day. Trading ended in August with an average of 316,608 units at $1,867,646.
Transjamaican Highway led trading with 1.60 million shares for 30.5 percent of total volume followed by Wigton Windfarm with 851,566 units for 16.2 percent of the day’s trade and Sagicor Select Financial Fund with 700,528 units for 13.3 percent market share.
The All Jamaican Composite Index shed 490.45 points to conclude trading at 351,669.37, the JSE Main Index climbed 1,820.33 points to settle at 320,354.20 and the JSE Financial Index gained 0.91 points to 71.11.
The PE Ratio, a formula to compute appropriate stock values, averages 12.2 for the Main Market. The JSE Main and USD Market PE ratios are computed using the last traded prices and earnings forecasted by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints increased 55 cents to close at $7.70, with an exchange of 2,773 shares, First Rock Real Estate popped 39 cents in closing at $8.39, with 2,659 stock units changing hands, GraceKennedy fell $1 to $70.50 with 30,505 stocks being traded, Guardian Holdings rallied $34.80 to $436 with 145 units changing hands. Jamaica Stock Exchange rose 50 cents and ended at $10 with investors dealing in 98,700 stock units, JMMB Group climbed $2.21 in closing at $29.70 with 175,016 stocks being traded, following an announcement by the company that it will be buying back 10 million shares in the open market. Kingston Wharves dropped $2.44 to close at $26.57 with a transfer of 22,863 shares, Margaritaville advanced 30 cents to end at $16.30 after a transfer of a mere unit. NCB Financial gained $1.90 to close at $70 after 27,066 shares changed hands, Pan Jamaica skidded $1 to $43 with investors swapping 1,645 stock units, Sagicor Group shed 59 cents to close at $44.51 in trading 112,999 units. Scotia Group advanced 39 cents in closing at $33.44 as investors exchanged 309,106 stocks, Stanley Motta climbed 61 cents to end at $5.21, with 1,001 shares crossing the market and Supreme Ventures fell 76 cents and ended at $26.74 with an exchange of 138,995 units.
In the preference segment, Eppley 7.25% preference share rose $1.39 to $20 in an exchange of 69 stocks, Jamaica Public Service 9.5% gained $109.99 in closing at $3099.99 after investors traded just one stock and Productive Business Solutions 10.5% preference share dropped $135 to $1.200, with 150 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.