More corrections for Main Market

The Main Market of the Jamaica Stock Exchange stretched its losing streak into the fourth day the JSE All Jamaican Composite Index shedding 2,281.59 points to close at 531,067.72, the JSE Market Index falling 2,132.31 points to 483,587.41.
At the close of trading, JSE Financial Index lost just 0.18 points to close at 131.54, a reflection that stocks in this segment of the market remain relatively stable on Thursday.
The market closed with 45 securities changing hands in the Main and US dollar markets with the prices of 14 advancing, 16 declining and 15 trading firm. The JSE Main Market activity ended with 41 securities accounting for 49,111,069 units valued at $124,613,707 in contrast to 12,415,818 units valued at $141,179,331 from 43 securities on Wednesday.
Sagicor Select Financial Fund dominated trading with 24.3 million shares for 49.5 percent of total volume, followed by Wigton Windfarm with 12.3 million units for 25 percent of the day’s trade, and QWI Investments with 5.9 million shares for 12 percent of the market’s volume. Sagicor Select Manufacturing and Distribution was the only stock trading more than 1 million units, ending the day with 4.3 million shares.
The Market closed with an average of 1,197,409 units valued at an average of $3,035,972 for each security traded, in contrast to 288,740 units valued at an average of $3,283,240 on Wednesday. The average volume and value for the month to date amount to 669,453 units valued at $2,538,839 for each security changing hands compared to 489,068 units valued at 2,376,829 for each security traded. Trading in January resulted in an average of 626,134 units valued at $3,511,981 for each security.
 IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows seven stocks ending with bids higher than their last selling prices and three with lower offers. The PE ratio of the market ended at 19.4, while the Main Market ended at 18.7 times the 2019 earnings.
In the Main Market, Barita Investments gained $1.90 to close at $70, after exchanging 20,047 shares, Eppley lost 40 cents to settle at $13.80 after trading 195 units, Eppley Caribbean Property Fund slid to $37.50, with a loss of $3.57 swapping 6,340 shares. Jamaica Broilers closed $1 lower to $34, with 41,583 shares changing hands, Jamaica Stock Exchange gained 50 cents trading 81,502 shares to close at $31, JMMB Group declined by $3 to $43, in transferring 112,651 shares. Kingston Wharves climbed $2.40 to $63.47, with an exchange of 3,773 units. MPC Caribbean Clean Energy dropped $6, ending at $190 after 858 units changed hands, NCB Financial lost $2 to end at $187, in trading 211,865 shares, PanJam Investment lost $1 to settle at $100, with an exchange of 3,124 shares. Proven Investments rose to $47, with gains of $2.50 in trading 9,744 units, Pulse Investments closed at $7.50, climbing $1.50 after a transfer of 510,319 shares, Sagicor Group gained 50 cents to end at $66.50, with 23,173 shares crossing the market. Scotia Group dropped $1.50 after trading 150,064 shares to close at $53, Stanley Motta rose 70 cents to $5.75 trading 6,768 shares and Sygnus Credit Investments lost $1 to end at $24.50, with 29,744 shares changing hands.
Trading in the US dollar market ended with 9,740 units valued at over US$2,707, with the market index declining 2.16 points to close at 220.57. JMMB Group 5.75% preference share traded 230 units at US$2, JMMB Group 6% preference share exchanged 21 units at US$1, Proven Investments gained 1.3 cents to close at 28.5 US cents, with 5,260 units changing hands and Sygnus Credit Investments closed at 17.99 US cents, after transferring 4,229 units.

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