Prices pressured but Main Market gains

Market activity on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded rising 18 percent, with 23 percent greater value than on Monday, with 53 securities trading compared to 62 on Monday, leading 15 rising, 28 declining and 10 ending unchanged.
A total of 10,202,723 shares were exchanged for $99,881,216 versus 8,665,395 units at $81,164,850 on Monday. Trading averaged 192,504 units at $1,884,551 versus 139,764 shares at $1,309,110 on Monday. The month to date averages 229,234 units at $2,357,478 compared to 233,560 units at $2,413,179 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Wigton Windfarm led trading with 3.12 million shares for 30.5 percent of total volume followed by Pulse Investments with 2.74 million units for 26.9 percent of the day’s trade and Transjamaican Highway with 890,991 units for 8.7 percent market share.
The All Jamaican Composite Index gained 112.38 points to close at 408,449.02, the JSE Main Index rose 1,661.36 points to 359,413.08 and the JSE Financial Index increased 1.05 points to settle at 86.11.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell $2.60 to $87.35 trading 124,600 shares, Caribbean Cement lost $2.40 to close at $59.10 in switching ownership of 5,558 stock units, Caribbean Producers dipped 70 cents in closing at $13.28, with 23,876 units crossing the exchange. Carreras shed 43 cents to $8.52 in an exchange of 150,296 stocks, Guardian Holdings gained $34.99 to end at $529.99 in exchanging two units, Jamaica Stock Exchange increased $1.50 to $17.10 after a transfer of 9,588 stocks. JMMB Group rallied 45 cents to end at $41.50 trading 51,042 stock units, Kingston Wharves dropped 41 cents in ending at $36.10 after exchanging 17,036 shares, NCB Financial rose $1 to close at $90, with 133,117 units crossing the market. 138 Student Living declined $1.30 in closing at $5.50 with an exchange of 3,184 stocks, Proven Investments advanced $1.94 in closing at $31.99 after exchanging 867 stock units, Scotia Group dropped $1.15 to $34 in trading 24,528 shares and Sygnus Credit Investments climbed 45 cents to $13.70, with 12,647 stocks changing hands.
In the preference segment, Jamaica Public Service 9.5% lost $450 to end at $2650, with 574 units changing hands and 138 Student Living preference share fell $1 to close at $60 as investors exchanged 100 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.