Main Market trading plunged on Friday

Trading activity plunged on the Jamaica Stock Exchange Main Market ended on Friday, with the volume of stocks traded diving 27 percent and the value plunging 71 percent lower than on Thursday, with trading in 57 securities compared with 54 on Thursday, and ended with prices of just 11 rising, 31 declining and 15 ending unchanged.
The market closed with only MPC Caribbean Clean Energy up $7.36 and Seprod $4.80, ended with worthwhile gains with the others up 30 cents or less while losses were more prominent across the top 10, led by Pan Jamaica falling $2.40 and NCB Financial, down $23.9 with the lowest top 10 decliner, Jamaica Broilers with a 50 cents decline.
A total of 4,087,425 shares were traded for $30,292,867, down from 5,596,104 units at $102,723,231 on Thursday.
Trading averaged 71,709 shares at $531,454 versus 103,632 shares at $1,902,282 on Thursday and month to date, an average of 111,111 units at $1,369,955, compared with 132,500 units at $1,825,141 on the previous day. October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway led trading with 1.32 million shares for 32.3 percent of total volume, followed by Carreras with 772,775 units for 18.9 percent of the day’s trade and Sagicor Select Financial Fund with 417,841 units for 10.2 percent of market share.
The All Jamaican Composite Index fell 1,366.63 points to settle at 347,733.07, the JSE Main Index lost 3,039.14 points to finish at 312,866.71 and the JSE Financial Index declined 0.07 points to close at 68.43.
The Main Market ended trading with an average PE Ratio of 12. The JSE Main and USD Market PE ratios are 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 four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments skidded 86 cents to $71.03 with traders dealing in 26,881 stocks Berger Paints lost 80 cents to end at $6.20, with 8,849 units clearing the market, GraceKennedy dropped 68 cents in closing at $73.32 with investors dealing in 4,628 shares. Jamaica Broilers shed 50 cents and ended at $33, with 20,678 stock units crossing the exchange, Jamaica Producers fell 75 cents to close at $19.15 with a transfer of 2,866 shares, Kingston Properties fell 54 cents to $7.01 after an exchange of 15,523 units. MPC Caribbean Clean Energy increased $7.36 and ended at $80.87 with just one stock changing hands, NCB Financial dipped $2.39 to close at $60.51 in an exchange of 74,210 stock units, Pan Jamaica lost $2.40 in closing at $47.65 after 1,118 shares passed through the market. Scotia Group skidded 50 cents to end at $34 as investors exchanged 16,794 stocks, Seprod climbed $4.80 in closing at $79.80 in trading 12,312 units and Wisynco Group fell 50 cents to $20.50, with 131,691 stock units crossing the market.
In the preference segment, Eppley 7.50% preference share declined 90 cents to end at $5.07 while exchanging 379 shares and 138 Student Living preference share shed $17.73 and ended at $89.27 after closing with an exchange of 50 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.