Rising stocks dominate decliners

Market activity on the Main Market of the Jamaica Stock Exchange ended on Friday, with the volume of stocks traded declining 58 percent with an 81 percent lower value than on Thursday, with 56 securities trading compared to 57 on Thursday, with 25 rising, 20 declining and 11 ending unchanged. A total of 13,235,143 shares were traded for $77,577,657 versus 31,634,499 units at $412,915,308 on Thursday. Trading averaged 236,342 units at $1,385,315 versus 554,991 shares at $7,244,128 on Thursday and month to date, an average of 397,076 units at $4,340,646, compared to 554,991 units at $7,244,128 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Sagicor Select Financial Fund led trading with 3.80 million shares for 28.7 percent of total volume followed by Wigton Windfarm with 2.27 million units for 17.2 percent of the day’s trade, Sagicor Select Manufacturing & Distribution Fund with 2.25 million units for 17 percent market share and Transjamaican Highway with 1.07 million units for 8.1 percent of the day‘s trades.
The All Jamaican Composite Index dropped 347.86 points to 408,596.23, the JSE Main Index fell 720.30 points to 360,038.82 and the JSE Financial Index increased 0.08 points to settle at 85.59.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement dropped $3.45 in ending at $60.50 with investors transferring 9,711 shares, Caribbean Producers shed 45 cents to end at $14.45 after exchanging 111,480 stock units, Eppley Caribbean Property Fund climbed $2.40 to close at $44 with an exchange of 575 stocks. First Rock Real Estate advanced 87 cents to $12.37 with 346 units clearing the market, GraceKennedy popped $3.30 in closing at $96 after exchanging 26,732 stocks, Guardian Holdings dived $41 to $506 after trading just 11 stock units. Jamaica Broilers rallied 93 cents in closing at $28.93 with an exchange of 12,421 shares, Margaritaville fell $1.05 to $26.50 in switching ownership of 69 units, Mayberry Investments dipped 43 cents to close at $7.95 with an exchange of 66,452 stocks. NCB Financial dropped $1 to $89, with 76,146 units changing hands, 138 Student Living gained $1.34 in ending at $6.64 with the exchange of 4,215 shares, Palace Amusement dropped $51.13 in closing at $798.87 while swapping 3 stock units. PanJam Investment increased 47 cents to close at $60, with a mere seven units crossing the market, Portland JSX declined $2.10 to $9.90 in exchanging 600 shares, Sagicor Group dipped 55 cents to end at $53.95 in trading 193,172 stock units. Scotia Group rose $2.55 to $33.50 with a transfer of 987,581 stocks and Seprod rose $1.95 to close at $71, with 700 units crossing the market.
In the preference segment, Eppley 7.50% preference share dropped $1.54 to $5.95 in an exchange of 5,714 stocks. JMMB Group 7.25% preference share shed 47 cents to end at $2.50 as investors exchanged 1,976 shares and 138 Student Living preference share rallied $7.76 in closing at $59.51 after a transfer of 284 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.