Pension fund buys push Wisynco to one year high

Usually, reliable reports indicate that pension funds bought into Wisynco stock on Tuesday, helping to drive the price up to a 52 weeks’ high of $20.70, with above average volume on a day when trading activity on the Jamaica Stock Exchange Main Market ended, with the volume of stocks traded declining 5 percent and the value jumping 118 percent over Monday.
Following the rise in the price of Wisynco, Seprod jumped $4.05 and GraceKennedy by $2.85 but they failed to prevent the market from declining as declines of $11 in MPC Caribbean Energy, $2.57 drop in Eppley, $2.40 in Sagicor Group, $1.43 for Barita, $1.16 in Massy Holdings and 90 cents in NCB Financial weighted down the market.
Similar to Monday, trading took place in 57 securities, with prices of 21 rising, 20 declining and 16 ending unchanged.
Trading activity ended with an exchange of 8,304,936 shares for $112,080,292 compared with 8,771,432 units at $51,325,289 on Monday.
Trading averaged 145,701 shares at $1,966,321 versus 153,885 shares at $900,444 on Monday and month to date, an average of 183,065 units at $1,570,958, compared with 189,519 units at $1,502,668 on the previous day and September with an average of 218,512 units at $1,768,691.
Transjamaican Highway led trading with 2.97 million shares for 35.8 percent of total volume followed by Wisynco Group with 2.16 million units for 26 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund with 953,613 units for 11.5 percent of market share.
The All Jamaican Composite Index dropped 1,099.83 points to 347,217.19, the JSE Main Index declined 1,262.05 points to finish at 314,750.02 and the JSE Financial Index skidded 0.84 points to end at 69.01.
The Main Market ended trading with an average PE Ratio of 11.9. The JSE Main and USD Market PE ratios are 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 two with lower offers.
At the close, Barita Investments declined $1.43 to close at $72.49 in an exchange of 67,529 shares, Caribbean Cement advanced 80 cents to $51.50 after trading 504,129 stock units, Caribbean Producers skidded 39 cents in closing at $9.31 with a transfer of 4,631 units, Eppley fell $2.57 to end at $32.33 with investors dealing in 766 stocks. Eppley Caribbean Property Fund rallied $1.50 and ended at $31.50 after an exchange of 1,256 stock units, First Rock Real Estate lost 40 cents to close at $8 with an exchange of 5,712 stocks, GraceKennedy climbed $2.85 in closing at $74.85 in trading 5,933 shares, Jamaica Producers popped 95 cents and ended at $19.95, with 31,485 units crossing the market. JMMB Group ralled 48 cents to $28.48 in an exchange of 13,788 units, Kingston Properties increased 33 cents to $7.44 with 910 stock units clearing the market, Massy Holdings shed $1.16 to $97.10, with 44,764 shares changing hands, MPC Caribbean Clean Energy dipped $11 and ended at $70 while exchanging 1,764 stocks. NCB Financial dropped 90 cents to close at $65 after 37,789 shares crossed the market, Pan Jamaica rose 96 cents to end at $50.46 with stakeholders exchanging 488 stock units, Proven Investments rose 55 cents in closing at $21.80 after investors traded 6,562 stocks, Sagicor Group fell $2.40 to a 52 weeks’ low of $42.10 and closed with 293,465 units changing hands. Seprod advanced $4.05 in closing at $69.30 after a transfer of 127 units, Supreme Ventures increased 40 cents to close at $26.40 with investors trading 11,352 stocks and Wisynco Group gained $2.68 and ended at a 52 weeks’ high of $20.70 as investors exchanged 2,156,605 stock units.
In the preference segment, Eppley 7.50% preference share shed 41 cents to end at $5.59 with traders dealing in 12,060 shares, Jamaica Public Service 7% climbed $10 to close at $50 in switching ownership of 232 stocks, JMMB Group 7% preference share dipped 42 cents to end at $1.87 passed through the market 5,222 stock units and 138 Student Living preference share rallied $2.01 and ended at $87.01 crossing the market 62 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.