Pan Jamaica sinks JSE Main market

Pan Jamaica dropped $4.65 in trading on the Jamaica Stock Exchange Main Market on Thursday, helping to push the market down even as heavily weighted Scotia Group climbed $1.30 following a 34 percent rise in the volume of stocks traded but the value fell by 54 percent from Wednesday’s levels, following trading in 54 securities up from 51 on Wednesday, with prices of 16 rising, 20 declining and 18 ending unchanged.
A total of 6,606,269 shares were traded at $40,160,944 compared to 4,914,260 units at $86,517,288 on Wednesday.
Trading averaged 122,338 shares at $743,721 compared with 96,358 shares at $1,696,417 on Wednesday and month to date, an average of 180,611 units at $1,526,293, down from 184,773 units at $1,582,191 on the previous day. August closed with an average of 316,608 units at $1,867,646.
Wigton Windfarm led trading with 2.35 million shares for 35.5 percent of total volume followed by Transjamaican Highway with 1.39 million units for 21 percent of the day’s trade and JMMB Group 7.35% – 2028 with 1.23 million units for 18.6 percent of the day’s trade.
The All Jamaican Composite Index dipped 541.98 points to finish at 345,405.20, the JSE Main Index dipped 445.30 points to 311,400.65 and the JSE Financial Index dropped 0.31 points to conclude trading at 69.24.
The Main Market ended trading with an average PE of 12.2. The JSE Main and USD Market PEs are based on last traded prices and earnings projected by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments lost 30 cents to end at $77 with traders dealing in 10,771 shares, Caribbean Producers dropped 39 cents to end at $10.40, with 4,514 stocks changing hands, Eppley gained 97 cents and ended at $36.50 with investors dealing in 60 stock units, Eppley Caribbean Property Fund skidded $1.90 in closing at $37, with 2,320 units crossing the market. GraceKennedy dipped 49 cents to close at $71.51 with an exchange of 321,789 units, Jamaica Broilers shed 50 cents and ended at $31.50 as investors exchanged 22,100 stocks, Kingston Properties declined 67 cents to $6.62 after 6,404 shares changed hands, Kingston Wharves fell 27 cents to end at $27.72 after closing with an exchange of 16 stock units. Margaritaville rose 30 cents to close at $16.30 after trading in just 2 units, Mayberry Investments climbed 91 cents in closing at $7.91 after an  exchange of 6,021 stock units, Pan Jamaica dropped $4.65 to $41.10 after investor traded 4,743 stocks, Proven Investments popped $2.66 to $24.18 with shareholders swapping 54 shares. Sagicor Group declined 20 cents to end at a 52 weeks’ low of $43.80, with 18,994 stocks clearing the market, Scotia Group rallied $1.30 and ended at $33.50 with a transfer of 7,270 units, Stanley Motta increased 48 cents to close at $5.33 with investors transferring 25,900 stock units, Victoria Mutual Investments advanced 26 cents to end at $2.98 after 2,400 shares passed through the market and Wisynco Group dipped 71 cents and ended at $17, with 19,911 stocks crossing the exchange.
In the preference segment, Eppley 7.25% preference share lost $1.30 in closing at $18.65 after a transfer of 2 units, Jamaica Public Service 7% shed $12.71 to land at $44.29 in an exchange of 809 stock units and JMMB Group 7.25% preference share skidded 23 cents to close at $1.67 in switching ownership of 1,902 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.