Rebound for JSE Main Market

The Main Market of the Jamaica Stock Exchange ended trading on Thursday with the major indices rebounding from the previous day’s losses with two stocks closing at 52 weeks’ highs.
Productive Business Solution and Proven Investments also closed at new highs, trading in the US dollar market.
At the close, the JSE All Jamaican Composite Index advanced 3,126.84 points to close at 560,098.30, the JSE Market Index gained 2,810.80 points to 510,084.90 and the JSE Financial Index climbed 0.46 points to 137.73.
The market closed with 47 securities changing hands in the Main and US dollar markets with the prices of 24 securities advancing, 10 declining and 13 securities trading firm. The JSE Main Market activity ended with 42 securities accounting for 23,950,566 units valued at $50,135,329 in contrast to 14,950,690 units valued at $64,523,919 from 39 securities on Wednesday.
Wigton Windfarm dominated trading with 13.7 million shares for 57 percent of total Main Market volume. Sagicor Select Financial Fund followed with 6.4 million units for 27 percent of the day’s trade, and Sagicor Select Manufacturing & Distribution Fund with 2.1 million stock units for 9 percent of the market’s volume.
The Market closed with an average of 570,252 units valued at an average of $1,193,698 for each security traded, in contrast to 383,351 units valued at an average of $2,142,837 on Wednesday. The average volume and value for the month to date amounts to 417,032 units valued at $1,887,966 for each security changing hands, compared to 470,120 units valued at $2,039,050 for each security traded. Trading in December resulted in an average of 595,143 units valued at $9,344,514 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows six stocks ending with bids higher than their last selling prices and three stocks closing with lower offers. The PE ratio of the market ended at 19.8, while the Main Market ended at 19.2 times 2019 earnings.
In the prime market, Barita Investments closed $1.64 lower to settle at $72.36 with 18,108 shares traded, Caribbean Cement gained 99 cents to end at $80 with 6,050 units changing hands, Eppley Caribbean Property Fund dropped 95 cents and ended at $41.05 in trading 1,229 stock units. Grace Kennedy advanced $1 to a 52 weeks’ high of $76 after 2,255 units crossed the exchange, Jamaica Broilers closed $1 higher to settle at $40 trading 12,432 shares, Jamaica Producers Group climbed by $2, settling at $26 with 6,023 shares changing hands. Jamaica Stock Exchange gained 40 cents swapping 28,813 units to end at $28.38, JMMB Group closed 42 cents higher at $48.40 after transferring 71,326 units, Kingston Properties gained 98 cents to end at $7.99, with 24,622 shares changing hands. Kingston Wharves gained $2.89 to end at $60.90 with 2,466 crossing the exchange, Mayberry Investments dropped $1.15 after trading 17,583 units to end at $8.45, Mayberry Jamaican Equities closed at $11.94, after gaining 28 cents in exchanging 27,800 shares. PanJam Investments lost $1, ending at $101 after trading 19,804 units, Proven Investments climbed $3 to $50, with 9,931 units changing hands, Sagicor Group gained $2.40 to settle at $72.90 in trading 23,684 shares. Salada Foods closed $1.20 lower at $35, after swapping 3,252 shares, Scotia Group gained $3.70 to end at $58.70 with 22,814 shares changing hands, Sygnus Credit Investments rose 40 cents to settle at $26.40 in trading 92,554 shares and Victoria Mutual Investments gained 95 cents to close at a 52 weeks’ high of $10, with an exchange of 161,614 shares. Trading in the US dollar market ended with 255,781 units valued at over US$45,167. The market index advanced 7.59 points to close at 235.96.
Margaritaville Turks picked up 1 US cent trading 304 units, to end at 35 US cents, Productive Business Solution climbed to a 52 weeks’ high of 70 US cents, after gaining 5 US cents trading 900 shares. Proven Investments exchanged 67,105 units with gains of 4 US cents to close at a 52 weeks’ high of 37 US cents, Sterling Investments rose the fraction of a cent to close at 3 US cents from 2.9 US cents previously in transferring 40,496 shares and Sygnus Credit Investments traded 146,976 shares at 14 US cents.

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