More gains for JSE main market

Investors pushed Jamaica Stock Exchange’s main market stocks to record another day of rising indices as the market continued to trend higher, with gains well down on Tuesday’s with higher volume with the value dropping 49 percent.
The All Jamaican Composite Index added 277.74 points to close at 554,060.77, the JSE Index rose 251.66 points to 504,463.58 and the JSE Financial Index gained 0.44 points to close at 137.14.
The market closed with 35 securities changing hands in the main and US dollar markets with 14 advancing, 9 declining and 12 trading firm. Main market activity ended with 33 securities accounting for 20,477,665 units valued at $53,408,633 in contrast to 14,472,152 units valued at $103,787,768 on Tuesday from 35 securities.
Sagicor Select Funds dominated trading with 10.65 million shares for 52 percent of total volume, followed by Wigton Windfarm with 5.4 million units accounting for 26.5 percent of the day’s trade and Radio Jamaica with 1.6 million shares and 8 percent.
The market closed with an average of 619,626 units valued at an average of $1,618,443 for each security traded. In contrast to 413,490 units for an average of $2,965,365 on Tuesday. The average volume and value for the month to date amounts to 423,619 units valued at $3,842,413 and previously, an average of 406,342 units valued at $3,699,001 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ending with bids higher than their last selling prices and 2with lower offers. The PE ratio of the market ended at 16.9 with the main market ending at 17.6 times 2019 current year’s earnings.
In main market activity, Grace Kennedy lost $1 to end at $$66, after exchanging 8,751 shares, Jamaica Broilers gained 78 cents to close at $35.80 trading 3,330 shares, Jamaica Producers added 44 cents to end at $24.44, in swapping 25,601 shares, Jamaica Stock Exchange climbed $3 to $35, with 57,139 shares changing hands. Mayberry Investments closed $1.10 higher to $8.10 trading 112,209 units, Mayberry Jamaican Equities added $1 to close at $12.30 after trading 15,217 shares. NCB Financial rose by $3 and ended at $212, in swapping 38,227 units, Proven Investments climbed $2 to record close of $47, with 8,342 crossing the exchange, Seprod settled at $50.50, after losing 50 cents from trading 19,605 shares. Supreme Ventures lost 50 cents, to end at $26 with 35,929 shares changing hands and Victoria Mutual Investments closed 40 cents higher to settle at $8 trading 175,921 shares.
Trading in the US dollar market closed with 287,012 units valued at US$85,497 as the market climbed higher by 10.08 points to close at 208.57. Proven Investments traded 283,195 units at 30 US cents and Sygnus Credit Investments closed at 14 US cents with 3,817 units changing hands.

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