Main Market trading surges

Trading activity surged on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded jumping 328 percent higher than on Tuesday with a 490 percent higher value, after trading occurred in 56 securities compared to 55 on Tuesday, with 22 rising, 17 declining and 17 ending unchanged.
A total of 34,822,128 shares were traded for $269,703,535 up sharply from 8,135,336 units at $45,729,948 on Tuesday.
Trading averaged 621,824 shares at $4,816,135 versus 147,915 shares at $831,454 on Tuesday. Trading month to date, averaged 253,474 units at $3,473,289, compared with  217,724 stock units at $3,342,961 on the previous day. February closed with an average of 183,599 units at $2,160,070.
JMMB Group 7.35% due 2028 preference share led trading with 16.68 million shares for 47.9 percent of the volume, followed by Wigton Windfarm with 5.37 million units for 15.4 percent of stocks traded, Jamaica Broilers chipped in with 3.51 million units for 10.1 percent market share, followed by JMMB Group 7.5% preference share, with 2.31 million units for 6.6 percent, Carreras ended with 1.87 million units trading for 5.4 percent of the market and Sagicor Select Financial Fund with 1.80 million units for 5.2 percent.
The All Jamaican Composite Index slipped 558.16 points to 370,613.84, the JSE Main Index lost 341.03 points at 327,641.90 and the JSE Financial Index dropped 0.09 points to finish at 76.75.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.4 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 seven stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments rallied $1 to $80 while trading 79,464 shares, Eppley dipped $4.40 to close at $35 after exchanging 3,358 stock units, Eppley Caribbean Property Fund fell 60 cents to $40.40 with the swapping of 1,143 stocks. First Rock Real Estate climbed 99 cents to end at $12.04, with 11 units crossing the exchange, Guardian Holdings gained $25.50 to close at $509.50 in switching ownership of 21 units, JMMB Group dropped 49 cents to close at $31, with 298,216 stock units crossing the market.  Wharves rose 95 cents to $32 after 6,199 stocks were exchanged, Mayberry Jamaican Equities lost 98 cents to end at $12, with 4,200 shares changing hands, Palace Amusement popped 52 cents to $3.80 with an exchange of 186,662 stock units. PanJam Investment shed $1.50 to end at $55 after trading 81,003 units, Portland JSX popped 91 cents to end at $10.50 with investors transferring 74 shares, Seprod increased 50 cents to $65 in an exchange of 3,046 stocks and Supreme Ventures advanced 99 cents in ending at $24.99 as 88,209 shares passed through the market.
In the preference segment, Productive Business 10.50% preference share climbed $30 to $1200 with 100 units clearing the market, Jamaica Public Service 7% popped $34.74 to close at a new record high of  $140.73 in trading 705 stock units and Productive Business Solutions 9.75% preference share increased $16.90 ending at $107 with a transfer of 10 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.