Market index rises with reduced trading

Market activity ended on Wednesday, with the indices rebounding strongly, but trading ended with prices of more stocks declining than rising after the volume and value traded dropped 41 percent and 92 percent respectively from Tuesday’s outturn on the Main Market of Jamaica Stock Exchange.
The JSE All Jamaican Composite Index surged 4,192.74 points to close at 453,321.02, the Main Index climbed 3,384.75 points to 412,952.02 and the JSE Financial Index rose 0.88 points to 101.00.
Trading ended with 51 securities similar to Tuesday, with 17 stocks rising, 24 declining and 10 remaining unchanged. Caribbean Cement and Radio Jamaica closed at a 52 weeks’ high and Guardian Holding traded at an intraday low. The PE Ratio, a measure used to compute appropriate stock values, averages 15.4 based on ICInsider.com forecast of 2021-22 earnings.
The market closed with 10,754,378 shares trading for $69,882,256 versus 18,303,242 units at $861,108,533 on Tuesday. Wigton Windfarm led trading with 34.8 percent of total volume for an exchange of 3.75 million shares followed by Transjamaican Highway 16 percent with 1.73 million units and Radio Jamaica controlling 12.7 percent after exchanging 1.36 million units.
Trading averages 210,870 units at $1,370,240, down from 358,887 shares at $16,884,481 on Tuesday, with the month to date averaging 519,351 units at $9,028,808, in contrast to 540,468 units at $9,552,607 on Tuesday. July trading averaged 322,932 units at $15,201,099.
Investor’s Choice bid-offer indicator reading has 11 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments rallied 23 cents to $93 with the swapping of 238,128 shares, Berger Paints picked up 38 cents to close at $13.50 after 9,273 units crossed the market, Caribbean Cement advanced $2 in closing at a 52 weeks’ high of $106 in exchanging 16,232 stocks. Eppley shed 76 cents to $41.10 with 3,542 stocks changing hands. Eppley Caribbean Property Fund dropped $2.91 to $36.50 in trading 10,721 shares, First Rock Capital fell $1.29 to $11.50 with 24,143 stock units crossing the market, GraceKennedy rose $1.10 to $102.10 after an exchange of 36,878 stocks. Guardian Holdings popped $16 to $591 in transferring 1,039 units, Jamaica Producers spiked 70 cents to $22.20 in switching ownership of 7,557 stock units. Jamaica Stock Exchange rallied 83 cents to $17.20 with the swapping of 48,002 shares, Key Insurance lost 20 cents in ending at $4.20 after an exchange of 18,976 stock units, Kingston Properties fell $1.25 to $9 with a transfer of 2,000 units. Kingston Wharves gained 50 cents to $48.50 with 2,000 stocks clearing the market, Mayberry Jamaican Equities lost 75 cents in closing at $8.60 with the swapping of 7,592 stock units, NCB Financial Group slipped 25 cents to $130 with 8,867 stocks changing hands. Palace Amusement dropped $84 to $950 in trading 30 shares, Portland JSX rose $1 to $8 in switching ownership of 1,754 stocks. Radio Jamaica popped 35 cents ending at a 52 weeks’ closing high of $4.65 after exchanging 1,362,141 shares. Sagicor Group rallied $4.60 to $56.60 in trading 160,355 stock units, Scotia Group shed 88 cents to $39.12 with 10,802 units crossing the exchange, Seprod shed $1 to $63 with the swapping of 4,784 stocks, Sygnus Credit Investments slipped 45 cents to $14.30, with 55,555 stock units crossing the market.
In the preference segment, JMMB Group 7.35% – 2028 lost 28 cents to end at $3 with an exchange of 351,177 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.