Main Market trading rises but prices fall

Trading jumped sharply on the Jamaica Stock Exchange Main Market on Monday with a marginal decline in the volume traded with a 164 percent surge in value over Friday, resulting in trading in 57 securities compared to 53on Friday, with 17 rising, 25 declining and 15 ending unchanged.
A total of 11,450,226 shares were traded for $243,197,157 versus 11,840,614 units at $92,145,603 on Friday.
Trading averaged 200,881 units at $4,266,617 versus 223,408 shares at $1,738,596 on Friday and month to date, an average of 181,268 units at $2,347,445 compared to 178,739 units at $2,099,950 on the previous day. Trading in January averaged 205,236 units at $1,805,558.
Scotia Group led trading with 4.13 million shares for 36.1 percent of total volume followed by QWI Investments with 1.51 million units for 13.2 percent of the day’s trade, Wigton Windfarm with 1.51 million units for 13.2 percent and Transjamaican Highway with 1.01 million units for 8.8 percent market share.
The All Jamaican Composite Index dropped 1,641.15 points to 379,404.43, the JSE Main Index fell 1,138.54 points to 335,146.88 and the JSE Financial Index shed 0.10 points to close at 80.20.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14 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 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement dropped $1.18 to $58 with a transfer of 63,366 shares, Eppley Caribbean Property Fund declined $4 in closing at $42 as investors traded 1,619 stock units, Guardian Holdings advanced $4.30 in ending at $510 with 40,354 stocks crossing the market. JMMB Group shed $1.40 to close at $32 trading 15,984 units, Mayberry Investments popped 69 cents to end at $8.50 after exchanging 4,120 stocks, MPC Caribbean Clean Energy dropped $15 to finish at $71 with 100 units changing hands. NCB Financial rose $3 to close at $78 after a transfer of 4,277 shares, 138 Student Living lost 49 cents to settle at $4.51 after 3,019 stock units passed through the market, Palace Amusement climbed $22.90 to $2,325 in switching ownership of 64 units. Proven Investments fell $1.30 in closing at $28 after trading 1,130 stock units, Sagicor Group gained 50 cents to end at $53.50 with investors transferring 1,645 stocks, Scotia Group dipped 85 cents in closing at $34 with an exchange of 4,131,234 shares. Seprod rose $1 to end at $65 with the swapping of 7,501 stock units, Stanley Motta rallied 52 cents to close at $4.82 after an exchange of 4,980 units, Supreme Ventures shed 51 cents in ending at $26.49 in transferring 365,798 stocks. Sygnus Credit Investments USD share gained $1.90 to finish at $20.90 after clearing the market with 12 shares, Sygnus Real Estate Finance lost 43 cents in closing at $9.07 as investors traded 1,000 shares, Wisynco Group fell 73 cents to $17.25 with the swapping of 320,246 units.
In the preference segment, Productive Business 10.50% preference share climbed $84.09 to close at $1,200 after exchanging 176 stocks and Productive Business Solutions 9.75% preference share dropped $13 to end at $107 with a transfer of 10 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.