One week of declines for JSE Majors

The Jamaica Stock Exchange main market suffered another declined for a fifth consecutive day on Friday, with reduced volume but with a much higher value than on Thursday as the main market goes through a mild correction of 5 percent.  
Trading ended with 40 securities changing hands in the main and US dollar markets with 10 stocks advancing, 22 declining and 8 stocks trading firm. The market closed with the JSE All Jamaican Composite Index falling 3,525.47 points to close at 552,794.42. The JSE Index dropped 3,108.66 points to 506,336.57 and the JSE Financial Index lost 0.95 points to close at 137.34.
Main market activity ended with 37 securities trading resulting in 11,554,366 units valued at $237,158,383, in contrast to 15,417,353 units valued at $67,593,610 from 36 securities trading on Thursday.
Wigton Windfarm led trading with 5.2 million units for 45 percent of total volume, followed by Barita Investments with 2 million shares for 17 percent of the market’s trade and QWI Investments with 1.6 million units accounting for 14 percent of the day’s trade. The only other stock trading more than a million units was Sagicor Select Funds with 1.1 million shares.
The Market closed with an average of 312,280 units valued at $6,409,686 for each security traded, in contrast to 453,452 units for an average of $1,988,047 on Thursday. The average volume and value for the month to date amounts to 964,884 shares for $9,843,232 for each security traded and previously 1,041,055 shares at $10,293,733 for each stock traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 securities ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.4 with the main market ending at 17 times 2019 current year’s earnings.
In main market activity, Berger lost 50 cents to close at $18.10, in the swapping of 1,600 shares, Caribbean Cement closed 69 cents lower after 7,462 shares changed hands to end at $76.81, Eppley Caribbean Fund jumped $4, after exchanging 2,448 shares, to close at $39. Jamaica Stock Exchange slid 99 cents in closing at $28.99 as 23,121 shares changed hands, JMMB Group traded 74,042 shares gaining 90 cents to end at $43, Kingston Wharves closed $2.59 higher to settle at $60, after exchanging a mere 500 shares. Mayberry Equities lost 35 cents to close at $11.15 with 6,700 shares traded, NCB Financial plummeted $5.50 to close at $202 while exchanging 142,640 units, PanJam Investment lost 90 cents and ended at $102.10 after 67,595 shares crossed the exchange. Sagicor Group traded 37,028 shares in losing $1.10 to close at $67.90, Scotia Group closed $2.98 lower in exchanging 231,475 shares to end at $57.01, Seprod gained $1.50 to end at $52 with an exchange of 23,087 shares and Supreme Ventures lost 50 cents to settle at $27 with 74,136 shares trading.
Trading in the US dollar market ended with 157,383 units valued at $40,043 and the market index fell by 3.04 points to close at 196.47. Margaritaville lost 3 cents and closed at 25 US cents with 3,856 shares changing hands, Proven Investments fell half a cent and exchanged 139,727 shares, to close at 26.51 US cents and Sygnus Credit Investments traded 13,800 units to inched higher from 13.9 US cents to end at 13.91 US cents.