Main Market slippage Wednesday

Investors pulled back funds entering the Jamaica Stock Exchange Main Market ended on Wednesday, as the volume of stocks traded rose 4 percent, with a 52 percent drop in the value of stocks compared to Friday, with trading ended with an exchange of 59 securities compared to 53 on Friday, with prices of 17 rising, 26 declining and 16 ending unchanged.
A total of 22,138,197 shares were traded for $73,392,960 compared with 21,211,534 units at $157,346,195 last Friday.
Trading averages 375,224 units at $1,243,948, versus 400,218 shares at $2,968,796 on Friday and month to date, an average of 483,007 units at $2,922,292, compared to 489,680 units at $3,026,20 on the previous trading day. November closed with an average of 202,406 units at $1,736,493.
Wigton Windfarm led trading with 12.43 million shares for 56.2 percent of total volume followed by Radio Jamaica with 3.82 million units for 17.3 percent of the day’s trade and Transjamaican Highway with 1.88 million units for 8.5 percent market share.
The All Jamaican Composite Index fell 178.44 points to 384,289.39, but the JSE Main Index popped 169.81 points to 345,133.04 and the JSE Financial Index dipped 0.34 points to close at 82.80.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments dropped $1.40 to end at $98.60 with 2,566 shares clearing the market, Berger Paints lost $1.41 to end at $9.20 as investors exchanged 3,598 stock units, Caribbean Cement dropped $1.55 ending at $58.45 with a transfer of 57,144 units. Caribbean Producers fell 45 cents to close at $11.30 in switching ownership of 15,880 stocks, Eppley declined 77 cents to $40.22 after a transfer of 597 shares, First Rock Real Estate rose $1 to $14 with the swapping of 378,684 units. GraceKennedy shed $1 in ending at $81 after 12,747 stock units were traded, Jamaica Broilers gained $1.50 in closing at $31 with an exchange of 623,672 stocks, Jamaica Stock Exchange popped 61 cents to close at $15.71 in trading 52,801 stocks. JMMB Group declined 50 cents to $31.60 after exchanging 8,845 stock units, Mayberry Investments advanced 90 cents in closing at $8.90, with 106,593 units crossing the market, NCB Financial dipped 80 cents to $79.20 while trading 11,501 shares. Palace Amusement rallied $196 to end at $1,375 after 767 stocks changed hands, Proven Investments increased $1.90 to $28 as 4,084 units were exchanged, Sagicor Group fell $1.49 to close at $47 as 156,887 shares passed through the market. Scotia Group dropped $2.85 to $32.05 after exchanging 75,345 stock units, Stanley Motta lost 70 cents to close at $4.01, with 29,682 shares changing hands and Sygnus Credit Investments shed 61 cents in closing at $12.39 with investors transferring 8,766 units.
In the preference segment, Productive Business 10.50% preference share shed $50 to close at $1000, with 100 stock units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.