More Main Market losers than winners

Declining stocks outgunned rising stocks nearly 2 to 1 at the close of trading activity on the Jamaica Stock Exchange Main Market on Thursday, as the volume of stocks traded declined 10 percent as the value climbed 27 percent over Wednesday, leading to trading in 51 securities down from 56 on Wednesday, with prices of 15 rising, 28 declining and eight ending unchanged.
A total of 10,619,694 shares were traded for $79,408,765 compared with 11,780,581 units at $62,395,782 on Wednesday.
Trading averaged 208,229 shares at $1,557,035 compared with 210,368 shares at $1,114,210 on Wednesday and month to date, an average of 147,509 units at $1,032,113 compared to 133,806 units at $913,657 on the previous day. August closed with an average of 316,608 units at $1,867,646.
JMMB Group 7.5% preference share led trading with 4.82 million shares for 45.4 percent of total volume followed by Wisynco Group with 1.66 million units for 15.6 percent of the day’s trade and Sagicor Select Financial Fund with 957,709 units for 9 percent market share.
The All Jamaican Composite Index shed 1,632.39 points to close at 352,159.82, the JSE Main Index dipped 707.07 points to 318,533.87 and the JSE Financial Index shed 0.39 points to close at 70.20.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.2 for the Main Market. The JSE Main and USD Market PE ratios are computed 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 11 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement declined 60 cents and ended at $50.30 after a transfer of 1,130 shares, Caribbean Producers gained 30 cents to close at $9.95 while exchanging 100 units, Carreras shed 50 cents to end at $8.20 with an exchange of 324,379 stock units. GraceKennedy dipped 68 cents in closing at $71.50 after exchanging 76,459 stocks, Jamaica Stock Exchange dropped 69 cents to close at $9.50 with stakeholders exchanging 5,073 stock units, Kingston Properties rallied 57 cents to close at $7.32 after trading 3,430 stocks. NCB Financial skidded $1.90 to end at $68.10 with investors trading 35,818 shares, Sagicor Group fell 90 cents to $45.10 with traders dealing in 4,827 units, Scotia Group lost 70 cents in closing at $33.05, with 211,602 stocks crossing the market. Seprod skidded 90 cents and ended at $70.10 after 977 units passed through the market and Stanley Motta dropped 61 cents in closing at $4.60 as investors exchanged 44,895 stock units.
In the preference segment, Jamaica Public Service 7% increased $14 to $55 and closed trading with 62 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.