Rally for JSE Main Market

Activity ended on the Jamaica Stock Exchange Main Market on Wednesday, with the volume of stocks traded declining 12 percent and the value 131 percent more than on Tuesday as stocks declining exceeded those rising.
The All Jamaican Composite Index rose 2,293.01 points to 458,821.97, the JSE Main Index rallied 1,632.06 points to end at 401,425.56 and the JSE Financial Index lost 0.62 points to settle at 94.04.
Trading ended with 58 securities versus 59 on Tuesday, with 22 rising, 23 declining and 13 unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.2. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 11,782,128 shares were traded for $388,157,374 versus 13,458,702 units at $167,729,641 on Tuesday. Productive Business Solutions 9.75% Preference share led trading with 2.88 million shares for 24.4 percent of total volume, followed by Transjamaican Highway with 2.33 million units for 19.8 percent of the day’s trade, Wigton Windfarm with 1.16 million units for 9.8 percent market share and Supreme Ventures with 1.10 million units for 9.3 percent market share.
Trading averages 203,140 units at $6,692,369, compared to 228,120 shares at $2,842,875 on Tuesday and month to date, an average of 241,594 units at $4,975,252, compared to 261,512 units at $4,086,031 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints fell $1 in ending at $10 after exchanging 22,941 shares, Caribbean Cement rose $2.56 in closing at $69.71, with 2,840 stocks clearing the market, Caribbean Producers shed 42 cents to close at $18.06 after 245,495 units crossed the market. Eppley declined $2.35 to end at $40.15, with 24 stock units changing hands, Eppley Caribbean Property Fund gained $1.50 to close at $48.50, with an exchange of 3,852 stocks, First Rock Capital dropped $1.61 to close at $11.65 with the swapping of 62,868 stock units. GraceKennedy increased $4 in ending at $111 after 15,712 units changed hands, Guardian Holdings lost $4.20 to $515.85 after exchanging 1,501 shares, Jamaica Producers rose $1.65 in closing at $23.95, with 18,035 stocks crossing the market. Jamaica Stock Exchange lost $1.15 to end at $22.25 in exchanging 25,044 units, JMMB Group climbed $2.50 to $47.90 while exchanging 122,925 stock units, Kingston Wharves popped $1.50 to close at $40 in switching ownership of 5,583 shares. Massy Holdings fell 30 cents to $98.70 in trading 3,935 units, Mayberry Investments rallied 50 cents to $9.25 in an exchange of 160,607 shares, MPC Caribbean Clean Energy dropped $1 in closing at $101 after trading 500 stocks. NCB Financial declined $7.70 to end at $106.40 after trading 33,801 stock units, Palace Amusement shed $14.83 to $1000.17, with 33 shares crossing the exchange, Proven Investments advanced 99 cents to close at $37.99, with 30,660 stock units crossing the exchange. Sagicor Group shed 97 cents in closing at $57 after trading 12,371 units, Scotia Group declined $1.13 to $35 trading 48,867 stocks, Seprod rose $4.70 to $63 in an exchange of 44,160 stocks before the release that the company is to acquire AS Bryden group based in Trinidad and Tobago. Supreme Ventures rallied $1.50 in ending at $30, with 1,096,408 stock units crossing the market, Sygnus Real Estate Finance fell $2.45 in closing at $15.60 after trading 835 shares and Wisynco Group lost 65 cents to close at $24.20 with 112,378 units clearing the market.
In the preference segment, Eppley 5% preference share dropped $1.15 to end at $19.85, with 799 shares crossing the market, JMMB Group 7.25% preference share gained 30 cents to end at $3.49 after exchanging 1,562 stocks and Productive Business Solutions 9.75% preference share shed $9.45 in closing at $108.25 while trading 2,877,023 stock units.