Main Market trading rises on softer prices

Trading activity picked up on the Jamaica Stock Exchange Main Market on Thursday with a 113 percent jump in the volume of stocks traded as the value surged by 239 percent over trading on Wednesday, after trading took place in 55 securities trading down from 60 on Wednesday, with 23 rising, 22 declining and 10 ending unchanged.
A total of 11,506,995 shares were exchanged for $127,421,242 versus 5,390,205 units at $37,625,972 on Wednesday.
Trading averaged 209,218 units at $2,317,495 compared with 89,837 shares at $627,100 on Wednesday and month to date, an average of 146,932 stock units at $1,435,550. February closed with an average of 183,599 units at $2,160,070.
Wigton Windfarm led trading with 6.13 million shares for 53.2 percent of the volume, Transjamaican Highway followed with 1.27 million units for 11 percent of the day’s trade and Massy Holdings with 1.10 million units for 9.6 percent market share.
The All Jamaican Composite Index declined 1,813.15 points to end at 380,265.75, the JSE Main Index shed 1,383.23 points to close at 335,838.19 and the JSE Financial Index rose 0.21 points to 79.78.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.2 for the Main Market. The JSE Main and USD MarketPE 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 eight stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments fell $1 to a 52 weeks’ low of $80 after 46,324 shares passed through the market, Berger Paints popped 79 cents to $9.06 in after an exchange of 60 stocks, Caribbean Cement declined $3.25 to close at $56.75 in switching ownership of 8,494 units. Caribbean Producers dipped $1 to $10 trading 33,889 stock units, Eppley shed 52 cents in closing at $37.48 after exchanging 18,305 stock units, Eppley Caribbean Property Fund advanced $4 to $45 after investors traded 179 units. GraceKennedy rose $3 in closing at $82 with the swapping of 47,812 stocks, Guardian Holdings climbed $9.50 to end at $510 with investors transferring 898 shares, Jamaica Broilers rallied $1.80 to a 52 weeks’ high of $37.55 in exchanging 38,852 units. Jamaica Producers gained 69 cents to close at $21 after clearing the market with 115,235 shares, Jamaica Stock Exchange rose 57 cents to $14.55 with 8,700 stocks changing hands, JMMB Group dropped 71 cents to $31.18 with a transfer of 52,761 stock units. Mayberry Investments rallied 69 cents to end at $8.50 with an exchange of 219,534 stock units, NCB Financial shed $2 in closing at $73.50 after trading 16,302 shares, 138 Student Living rallied 49 cents to $5.50 after a transfer of 38,968 stocks. PanJam Investment gained 58 cents to end at $57.10 in exchanging 2,387 units, Proven Investments popped 40 cents to $27.90 as investors traded 212 stocks, Scotia Group dipped 70 cents to $34.05 after a transfer of 38,513 units. Seprod declined $4.95 to close at $62.05 as investors exchanged 109,920 shares and Wisynco Group popped 41 cents in ending at $18.01 with the swapping of 95,604 stock units.
In the preference segment, Jamaica Public Service 7% continues to defy gravity in advancing $8.23 to a new record high of $38.23 with 1,720 units changing hands and 138 Student Living preference share advanced $3.45 to end at $77.45 in trading 158 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.