Main Market slippage

Market activity on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 14 percent as 56 percent more funds passed through the market than on Monday, following trading in 55 securities compared to 60 on Monday, with 17 rising, 21 declining and 17 ending unchanged.
At the close, 10,530,582 shares were exchanged for $110,705,795 ccompared to 12,287,344 units at $70,856,504 on Monday.
Wednesday’s trading averaged 191,465 units at $2,012,833 versus 204,781 shares at $1,180,942 on Monday and month to date, an average of 211,963 units at $2,994,449 versus 213,094 units at $3,048,601 on the previous day. August closed with an average of 738,534 units at $5,975,613.
Transjamaican Highway led trading with 3.21 million shares for 30.5 percent of total volume followed by Pulse Investments with 2.50 million units for 23.7 percent of the day’s trade and Sagicor Select Financial Fund with 702,867 units for 6.7 percent market share.
The All Jamaican Composite Index declined 1,892.98 points to 408,801.26, the JSE Main Index fell 248.44 points to 358,150.83 and the JSE Financial Index rallied 0.39 points to settle at 85.87.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments popped $1 to $99, with 151,286 shares crossing the market, Caribbean Cement dipped $3.18 to $59.30 in an exchange of 144,468 stock units, Carreras declined 58 cents to $8.40 in trading 279,235 units. Eppley shed $2.10 to $38.90 with an exchange of 61 stocks, GraceKennedy fell $1.19 to close at $90.80 with investors transferring 75,728 units, Guardian Holdings rallied $5 to $500 with the swapping of 208 stocks. Jamaica Stock Exchange advanced 99 cents to $16.49 after 68,349 stock units crossed the market, Kingston Wharves lost $2 to close at $36 trading 12,169 shares, Massy Holdings gained $5.90 in closing at $88 after 530 stocks crossed the exchange. Mayberry Investments dropped 40 cents to close at $7.50 trading 352,655 shares, Mayberry Jamaican Equities dipped $1.95 to $11.05 as investors exchanged 80,083 units, 138 Student Living increased 96 cents to end at $6.50 after exchanging 5,015 stock units. PanJam Investment rose $1.49 in closing at $59.99, with 406,254 stock units clearing the market, Proven Investments climbed $1.80 to close at $32, with 22,884 units changing hands, Sagicor Group shed $2 in ending at $51.50 after an exchange of 35,774 shares. Scotia Group lost 50 cents to end at $35 in exchanging 1,276 stocks and Supreme Ventures declined 50 cents to $27.10 in switching ownership of 112,085 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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