Retreat for JSE Main Market

Market activity on the Jamaica Stock Exchange Main Market ended on Friday, with the volume of shares trading rising 12 percent and the value climbing 110 percent higher than Thursday, resulting in an equal number of advancing and declining stocks.
The All Jamaican Composite Index lost 2,760.94 points to end at 451,097.79, the JSE Main Index dipped 2,313.59 points to 396,968.47 and the JSE Financial Index lost 1.03 points to settle at 94.10.
Trading ended with 55 securities cversus 56 on Thursday, with 19 rising, 19 declining and 17 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The PE ratio for the JSE Main and USD Market closing quotes is based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 35,213,318 shares traded for $300,629,178 versus 31,300,525 units at $141,657,125 on Thursday. Transjamaican Highway led trading with 14.08 million shares for 40 percent of total volume, followed by Pulse Investments with 6.42 million units for 18.2 percent of the day’s trade and Sagicor Select Financial Fund with 3.69 million units for 10.5 percent market share. Wigton Windfarm ended with 3.40 million units for 9.6 percent market share, 138 Student Living traded 1.58 million units for 4.5 percent market share and Seprod, 1 million units for 2.9 percent market share.
Trading averaged 640,242 stock units at $5,465,985, up from 558,938 shares at $2,529,592 on Thursday and month to date an average of 702,233 units at $5,919,280, versus 714,323 units at $6,007,688 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Caribbean Cement fell 52 cents to $71.50 after trading 11,056 shares, Caribbean Producers declined 58 cents to $18.20 in switching ownership of 209,609 stock units, Jamaica Broilers dropped 38 cents to $28.50 with an exchange of 20,152 stocks. Jamaica Stock Exchange rose $2.03 to end at a 52 weeks’ high of $24 in an exchange of 245,241 units, JMMB Group rallied $2.39 in closing at $51.89, finishing at 234,879 stocks, Kingston Properties popped $1.15 to end at $9.35 in trading 24,290 shares. Kingston Wharves fell $1.89 to close at $40.10 after exchanging 20,771 stock units, Massy Holdings increased 80 cents to $100.80 in exchanging 22,641 units, Mayberry Jamaican Equities gained 60 cents in closing at $9.80, with 102,998 stock units clearing the market. MPC Caribbean Clean Energy advanced $3.80 to $101.80 after 200 shares crossed the market, NCB Financial lost $1.99 in closing at $108.01 after trading 44,020 stocks, Palace Amusement slipped $25.99 to $950.01 after an exchange of 36 units. PanJam Investment dropped 49 cents to close at $65.01 with 500,100 stocks crossing the market and Sagicor Group declined 50 cents in ending at $56.50, with 9,340 shares changing hands.
In the preference segment, Eppley 5% preference share climbed $3 to end at $22 after 1,434 units changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.