Rising stocks dominate JSE Main Market

Rising stocks outpaced those declining more than two one at the close of trading on the Jamaica Stock Exchange Main Market on Wednesday, following trading in 59 securities up from 55 on Tuesday, with 28 rising, 13 falling and 18 ending unchanged, the volume of stocks traded declined 49 percent, with a 68 percent lower value than on Tuesday.
Trading resulted in an exchange for 8,932,182 shares for $64,616,360, down from 17,477,049 units at $200,353,274 on Tuesday.
Trading averaged 151,393 shares for $1,095,193 compared to 317,765 units at $3,642,787 on Tuesday and month to date, an average of 314,910 units at $1,666,623, compared with 324,029 units at $1,698,489 on the previous day. Trading in July closed with an average of 283,368 units at $2,135,482.
Wigton Windfarm led trading with 2.69 million shares for 30.2 percent of total volume, followed by JMMB Group 7.35% due 2028, with 1.21 million units for 13.5 percent of the day’s trade and Stanley Motta with 1.05 million shares for 11.8 percent market share.
The All Jamaican Composite Index lost 428.15 points to finish at 351,020.99, the JSE Main Index climbed 1,282.67 points to 319,154.23 and the JSE Financial Index added 0.38 points to end at 70.97.
The PE Ratio, the most common formula used in valuing stocks, averages 12.8 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments gained 77 cents to end at $75.90, with 12,859 shares changing hands, Caribbean Cement popped $1.99 and ended at $52 after 278,333 stocks passed through the market, Eppley skidded 46 cents to close at $35.53 with shareholders swapping 1,024 stock units, Eppley Caribbean Property Fund rallied $2.64 to $39 after trading 1,403 units. First Rock Real Estate advanced $1.04 in closing at $8.74 while exchanging 723 stocks, GraceKennedy lost $1.50 to close at $74 after an exchange of 119,230 shares, Guardian Holdings rose $19.30 and ended at $420.50 as investors exchanged 99 units, Jamaica Producers declined $1.09 to $18.01 after 150 stock units passed through the market. JMMB Group dropped 54 cents to close at $27.15 after an exchange of 22,349 stocks, Kingston Properties increased 40 cents in closing at $7.30 with investors dealing in 68 stock units, Massy Holdings climbed 90 cents to $101 with stakeholders exchanging 1,772 shares, MPC Caribbean Clean Energy gained $2.80 and ended at $72.50 after a transfer of 194 units. Seprod rallied $5 to close at $70 with a transfer of 146,479 units, Supreme Ventures gained 44 cents in closing at $27.99, with 9,896 shares changing hands, Sygnus Credit Investments shed 50 cents to land at $11.47 in an exchange of 67,753 stocks and Wisynco Group climbed $1.15 in closing at $18, with 81,066 stock units crossing the exchange before reporting full year profit results after the market closed, of $4.9 billion, up 21 percent over earnings for 2022 and resulting in earnings of $1.31 per share.
In the preference segment, Eppley 7.75% preference share popped 50 cents to close at $19 with investors transferring 260 shares, Jamaica Public Service 7% fell $12.06 to $46.80, with 358 stock units clearing the market and Productive Business Solutions 9.75% preference share advanced 50 cents to end at $100 in an exchange of 47 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.