Rising stocks beat up decliners

Market activity ended on Tuesday, with the volume of shares trading surging 199 percent, but with 30 percent less value than Monday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining, resulting in a mild drop in the Main market indices. 
The All Jamaican Composite Index dropped 197.40 points to 453,152.75, the Main Index shed 135.29 points to end at 411,889.76 and the JSE Financial Index popped 0.10 points to settle at 100.30.
Forty eight securities traded similar to Monday and ended, with 22 stocks rising, 15 declining and 11 finishing unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 15.9 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 71,748,172 shares trading for $147,521,115 versus 24,034,258 units at $209,918,283 on Monday. Sagicor Select Financial Fund led trading by controlling 91 percent of total volume, with 65.3 million shares, followed by Wigton Windfarm, 2.4 percent, with 1.75 million units and QWI Investments with 566,303 units for 0.8 percent market share.
Trading averages 1,494,754 units at $3,073,357, compared to 500,714 shares at $4,373,298 on Monday and month to date, an average of 522,647 units at $2,288,482 versus 292,789 units at $2,103,896 on Monday. August closed with an average of 480,039 units at $8,561,549.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement fell 99 cents to end at $107, trading 4,081 shares, Eppley rose 25 cents to close at $40.75 in trading 1,275 stock, GraceKennedy popped $1 to $102 in switching ownership of 488,001 stock units. Guardian Holdings spiked $12 to end at $592 in trading 3,359 units, Jamaica Broilers dropped $1.07 in closing at $32.03 while exchanging 22,103 shares, Jamaica Producers shed 43 cents to end at $24.24 after 260,006 stock units crossed the exchange. JMMB Group climbed 32 cents to $36.83 with the swapping of 39,284 stocks, Kingston Properties declined $1.75 to $8.50, with 16,969 units changing hands, Kingston Wharves climbed $1.90 to $48.45 with an exchange of 1,001 stock units. Mayberry Investments rallied 25 cents to $6, with 500 shares crossing the market, MPC Caribbean Clean Energy rose $1 to $120, with 1,032 stock units changing hands, NCB Financial gained $1.40 to $131.40 after exchanging 116,300 stock units. Palace Amusement fell $50 to $1050 in exchange of just two shares, Proven Investments gained $1.20 in closing at $34.20 and exchanging 71,444 stock units, Sagicor Group dropped $2.39 to $55 in an exchange of 28,393 shares. Seprod climbed 25 cents to end at $65, with 6,168 units clearing the market, Supreme Ventures rose 30 cents to $18.10 with the swapping of 155,281 stock units and Sygnus Credit Investments rallied 39 cents to $16.05 after trading 142,871 units.
In the preference segment, Eppley 5% declined 25 cents, ending at a 52 weeks’ low of $20 with an exchange of 224 stocks and JMMB Group 7.15% – 2028 increased 36 cents to $3.35 trading 9,600 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.