More slippage for JSE Main Market

The Jamaica Stock Exchange at the close on Thursday and shed some of the recent gains up to Tuesday, but with the value of securities trading, falling from Wednesday’s levels with higher volume.
All Jamaican Composite Index declined by 1,407.36 points to close at 535,140.90 at the close, the JSE Market Index dropped 1,263.11 points to 487,188.44 and the JSE Financial Index lost 0.45 points to 132.11.
Trading closed, with 45 securities changing hands in the Main and US dollar markets with the prices of 21 advancing, 13 declining and 11 trading firm. The JSE Main Market activity ended with 41 securities accounting for 16,632,332 units valued $128,247,176 in contrast to 13,058,687 units for $207,850,962 from 42 securities on Wednesday.
Wigton Windfarm led trading with 6.7 million shares accounting for 40 percent of total volume. Sagicor Select Financial Fund followed with 3.4 million units for 20 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund, with 3.3 million shares, accounted for 14 percent of market share.
The Market closed with an average of 405,667 units valued at $3,127,980 for each security traded, in contrast to 424,688 units valued at $5,069,536 on Wednesday. The average volume and value for the month to date amount to 617,823 units for $2,820,081 for each security changing hands compared to 633,300 units for $2,795,851 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 eleven stocks ending with bids higher than their last selling prices and three closing with lower offers. The PE ratio of the market ended at 19, while the Main Market ended at 18.1 times 2019 earnings.
In the prime market, Barita Investments lost 98 cents to close at $68.01 after transferring 26,332 shares Grace Kennedy dropped $1.80 to $67.20, with 28,164 shares changing hands, Jamaica Stock Exchange lost $1.90 to close at $29.50 with 532,239 units crossing the market. JMMB Group closed 40 cents lower to $45, after transferring 80,251 shares, Kingston Wharves jumped $3.99 to close at $59, in swapping 6,790 units. 138 Student Living climbed $1.35 to close at 52 weeks’ high of $8.01, with an exchange of 183,238 shares. Proven Investments gained $1 to end at $48.50, in transferring 2,975 units, Pulse Investments closed $1.40 higher to a 52 weeks’ closing high of $12.40, after swapping 101,690 shares. Sagicor Group gained $1.20 trading 99,963 shares to close at $69.10, Salada Foods declined $1.53 to $26 after trading 12,646 units, Supreme Ventures rose $1 to end at $23, after transferring 11,976 shares. Sygnus Credit Investments gained $1.30 to settle at $26, in swapping 27,517 shares and in the preference segment, 138 Student Living rose $1 exchanging 1,364 shares at $6.
Trading in the US dollar market ended with 243,645 units valued at over US$61,593. The market index gained 1.56 points to close at 232.21. JMMB Group 6% preference share traded 1,748 units to end at 99 US cents, Proven Investments transferred 171,650 units at 31 US cents, Sterling Investments traded 38,293 shares at 2.7 US cents and Sygnus Credit Investments gained 2 cents in exchanging 31,954 units at 18 US cents.