More decline for JSE Main Market

The Main Market of the Jamaica Stock Exchange dropped on Friday, following slippage for the past two days and ended with the volume of stocks traded declining 51 percent and the value 82 percent lower than on Thursday, after 58 securities were traded compared to 56 on Thursday and ended with prices of 20 stocks rising, 19 falling and 19 unchanged.
A total of 7,673,086 shares were traded for $53,319,630 compared with 15,739,565 units at $290,871,744 on Thursday.
Trading averaged 132,295 shares at $919,304 compared to 281,064 stocks at $5,194,138 on Thursday and month to date, an average of 519,362 stocks at $2,280,480, compared with 584,813 units at $2,510,650 on the previous day. July closed with an average of 283,368 units at $2,135,482.
Wigton Windfarm led trading with 2.84 million shares for 37.1 percent of total volume, followed by Transjamaican Highway with 1.96 million units for 25.6 percent of the day’s trade and QWI Investments with 714,274 units for 9.3 percent market share.
The All Jamaican Composite Index shed 2,943.11 points to end at 353,626.53, the JSE Main Index dropped 2,292.56 points to 321,234.17 and the JSE Financial Index dipped 0.95 points to 70.47.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Carreras gained 31 cents to end at $8.45 after a transfer of 142,571 shares, First Rock Real Estate fell 63 cents to $8.87 with a transfer of 7,533 stock units, GraceKennedy climbed $1.48 in closing at $77.50 after 4,992 units were traded. Guardian Holdings fell $20 to $420 with investors transferring 22,192 stocks, Jamaica Broilers dipped 51 cents to close at $31.99 in an exchange of 42,648 stock units, Kingston Properties popped 52 cents and ended at $7.42, with 6 units clearing the market. Pan Jamaica rose 50 cents to $46.50, with 341 stocks crossing the market, Proven Investments rose 94 cents to $23, with 4,451 shares changing hands, Sagicor Group climbed 48 cents to end at $44.98 with an exchange of 29,517 stocks. Scotia Group dipped 50 cents to close at $34, with 22,601 units crossing the market, Stanley Motta rallied 35 cents to end at $4.85 with investors swapping just one stock unit and Sygnus Credit Investments climbed 54 cents and ended at $12.04 after trading 21,558 shares.
In the preference segment, Jamaica Public Service 7% lost $2 to end at $52 as investors exchanged 3 stock units, JMMB Group 7% preference share advanced 31 cents to $2.25, with 950 stocks crossing the exchange and 138 Student Living preference share rose $8.50 to close at $93.48 after 218 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.