Main Market suffers a big loss on Thursday

After two days of gains, Main Market stocks gave back a great deal at the close of trading activity on the Jamaica Stock Exchange on Thursday, with a big 784 percent jump in the volume of stocks traded, with the value surging 264 percent more than on Wednesday, after trading took place in 58 securities compared with 56 on Wednesday, as prices of 31 stocks declined with 17 rising and 10 ending unchanged.
A total of 124,688,141 shares were exchanged for $235,501,470 compared with 14,111,309 units at $64,741,889 on Wednesday.
Trading averaged 2,149,796 shares at $4,060,370 up from 251,988 units at $1,156,105 on Wednesday and month to date, an average of 1,217,539 stocks at $2,633,714, compared with July, that closed with an average of 283,368 units at $2,135,482
Transjamaican Highway 8% led trading with 113.10 million shares for 90.7 percent of total volume, followed by Wigton Windfarm with 2.31 million units for 1.9 percent of the day’s trade. Mayberry Investments ended with 2.0 million units for 1.6 percent market share, Pulse Investments came in with 1.84 million units for 1.5 percent market share and Transjamaican Highway with 1.63 million units for 1.3 percent of total volume.
The All Jamaican Composite Index lost 4,924.76 points to finish at 361,073.80, the JSE Main Index dropped 2,534.77 points to 326,525.24 and the JSE Financial Index slipped 1.53 points to 72.18.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.2 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 10 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments declined 50 cents to $76.20 and closed with an exchange of 93,908 shares, Berger Paints dropped 30 cents to close at $7.64, with 2,039 stock units crossing the market, Eppley dipped $1 and ended at $34 with an exchange of 1,000 units, Eppley Caribbean Property Fund increased $1.50 to end at $41.50 after an exchange of 3 stocks, First Rock Real Estate fell 91 cents in closing at $9.11 with investors transferring 6,000 shares. GraceKennedy shed $1.50 in closing at $76 after exchanging 66,220 stock units, Guardian Holdings lost $38 in ending at $400, with 79 units crossing the market, Jamaica Producers dropped 94 cents to $19.21 as investors exchanged 5,620 stocks, Jamaica Stock Exchange lost $1.64 to close at $10.23 in trading 9,646 units. Key Insurance declined 41 cents to end at $2.51 with 277 shares clearing the market, Massy Holdings climbed $3.48 to $100.99 with an exchange of 20 stocks, MPC Caribbean Clean Energy rallied $3.67 to close at $81.99 with shareholders swapping a mere one stock unit, NCB Financial rose $1.89 ended at $74.99 in an exchange of 100,400 units. 138 Student Living shed 54 cents to end at $4.11 after trading in 2,451 shares, Palace Amusement advanced 37 cents in closing at $2.37 in an exchange of 21,587 stock units, Pan Jamaica fell $1 in closing at $48 in switching ownership of 2,453 stocks, Proven Investments dipped 75 cents to end at $22.50 after 3,933 shares passed through the market. Sagicor Group fell $4.94 to 52 weeks’ low of $44.01 while exchanging 10,647 stock units, Seprod lost $1.30 in ending at $70, with 20,904 units changing hands, Stanley Motta dropped 58 cents to close at $4.32 with a transfer of 2,000 stocks, Supreme Ventures gained $1.60 in closing at $29.60, with 173,372 units crossing the exchange and Sygnus Real Estate Finance popped 80 cents to close at $11 after a transfer of 73 shares.
In the preference segment, Eppley 7.50%  preference share shed 61 cents to end at $6 after a transfer of 200 stock units, Jamaica Public Service 7% advanced $11.48 and ended at $61.48, with 16 stocks changing hands, Productive Business Solutions 9.75% preference share popped $2.50 in closing at $101.50 after an exchange of 49 units, Productive Business 10.50% preference share dropped $55 to $1,100 with investors transferring 223 stocks and Transjamaican Highway 8% dipped 37 cents to $1.48 in an exchange of 113,099,641 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.