Prices tumble on JSE Main Market

Declining stocks dominated trading on the JSE Main Market on Tuesday, sending the major indices sharply lower at the close, with 24 stocks declining and only eight stocks rising and closing with nine unchanged.Trading ended with 41 securities changing hands, two less than on Monday and the average PE Ratio of the market ended at 15 based on IC’s forecast of 2020-21 earnings.
At the close of the market, the All Jamaican Composite Index declined by 4202.97 points to settle at 402,038.91, JSE Market Index dropped by 3,833.69 points to settle at 366,908.04 and the JSE Financial Index lost 0.88 points to end at 95.03.
The market closed with an exchange of 11,625,612 shares for  $49,526,202 compared to 14,627,962 units at $56,812,175 on Monday. Wigton Windfarm led trading with 4.2 million shares for 36 percent of total volume, followed by TransJamaican Highway with 2.6 million units for 22.4 percent of the day’s trade and Sagicor Select Financial Fund with 2.27 million units for 19.6 percent market share.
An average of 283,552 units traded on Tuesday at $1,207,956 for each security in comparison to an average of 340,185 at $1,321,213 on Monday. An average of 374,764 units traded for the month to date at $2,500,318 for each security that traded, in contrast to 379,528 units at $2,567,817. In comparison,  June ended with an average of 818,748 units at $7,498,308.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, Barita Investments rose 94 cents to finish at $57.94 with 1,898 stock units traded, Caribbean Cement declined by $1.72 to $44, exchanging 58,372 units, Eppley shed $2.10 to settle at $14.90 with 100 shares changing hands. First Rock Capital climbed 45 cents to close at $13.45 after trading 18,200 stock units, Jamaica Broilers Group declined by $1 to settle at $24 with investors transferring 82,916 units, Jamaica Producers Group dropped 90 cents and ending at $22.50 with 10,922 shares. Jamaica Stock Exchange carved out a loss of 45 cents to settle at $21.50 with an exchange of 64,430 stock units changing hands,  JMMB Group gained 40 cents to end at $31.40 with 60,637 shares traded,  Key Insurance advanced $1 to close at $7, with investors transferring 43,499 units. Kingston Wharves shed $2.49 to finish at $49.01 with 2,285 shares changing hands,  Mayberry Investments fell 75 cents to settle at $5.75, with an exchange of just 100 stock units,  Mayberry Jamaican Equities dropped $1.19 to finish at $8.75 in a transfer of 49,886 units.  NCB Financial declined by $1.94 to close at $138 trading 43,164 shares,  PanJam Investment fell $1.06 to end at $64.99 with an exchange of 12,874 stock units, Proven dropped 99 cents, to finish at $32.51, with 3,100 stock units changing hands.  Sagicor Group lost $1.74 to end at $42 while exchanging 13,987 units,  Scotia Group declined $1.20 to finish at $43 with investors swapping 40,961 units,  Sterling Investments fell 45 cents in ending at $2.75 with 23,215 stock units passing through the market and  Supreme Ventures dipped 60 cents to close at $14.50 with 290,089 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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