Scotia big fall bites market

Scotia Group dropped $3.93 with more than 1.1 million shares changing hands and closed at a 52 weeks’ low on Friday, on a day when rising and falling stock prices were almost even at the end of trading activity on the Jamaica Stock Exchange Main Market, resulting in a drop in the market index, following a sharp fall in the volume of stocks traded as investors swapped 89 percent fewer shares with 68 percent less value than Thursday.
The market closed with trading in 52 securities, down from 53 on Thursday, and ended with 18 rising, 19 declining and 15 ending unchanged.
A total of 5,471,926 shares were traded at $103,330,08  versus 50,800,250 units at $320,174,232 on Thursday.
Trading averaged 105,229 shares for $1,987,117 compared to 958,495 units at $6,041,023 on Thursday and month to date, an average of 204,013 stocks at $1,649,801 compared to 213,386 units at $1,617,793, on the previous day. August closed with an average of 316,608 units at $1,867,646.
Scotia Group led trading with 1.16 million shares for 21.1 percent of total volume followed by Transjamaican Highway with 1.08 million units for 19.7 percent of the day’s trade and Sagicor Group with 970,955 units for 17.7 percent market share.
The All Jamaican Composite Index dropped 2,705.34 points to close at 346,427.98, the JSE Main Index shed 1,827.78 points to 314,347.08 and the JSE Financial Index slipped 0.61 points to finish at 69.74.
The Main Market closed with an average PE Ratio of 12.3. The JSE Main and USD Market PEs are based on the last traded prices and earnings projections by ICInsider.com, for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments gained 50 cents to end at $78.30 and closed with 21,219 shares being traded, Caribbean Cement dipped $1.50 to $47.50 as 4,206 stocks passed through the market, First Rock Real Estate popped $1 to close at $8.30 as investors exchanged 100 units. GraceKennedy skidded $1.15 and ended at $71.95, with 21,295 stock units crossing the exchange, Guardian Holdings rose $2 in closing at $432 while exchanging 612 stocks, Jamaica Broilers dropped 65 cents to end at $31.85, with 5,122 units changing hands. Jamaica Producers declined $1.37 to close at $18.71 after 5,391 shares crossed the market, JMMB Group advanced 39 cents in closing at $28.10 with traders dealing in 13,560 stock units, Massy Holdings rallied $1.34 to end at $97.84 after the trading of 416 shares. Mayberry Jamaican Equities declined by 25 cents to $11.25 with investors exchanging 200 stocks, MPC Caribbean Clean Energy climbed $11.50 to end at $81.50 with investors trading 1,292 units, NCB Financial increased $1 to close at $67, with 7,585 stock units clearing the market. Pan Jamaica lost $4.39 to $42.01 with investors trading 550 units, Proven Investments shed 45 cents in closing at $22 after an exchange of 6,352 stock units, Salada Foods increased 25 cents and ended at $2.80 in an exchange of 8,468 stocks. Scotia Group dropped $3.93 to close at a 52 weeks’ low of $30 with investors dealing in 1,155,439 shares, but the bid of $32.01 at the close was higher than the last traded price.Seprod dipped $3.49 in closing at $66 in an exchange of 1,279 shares and Supreme Ventures popped 26 cents and ended at $27.50 as 316,047 stocks changed hands.
In the preference segment, 138 Student Living preference share rallied $8.50 to end at $93.48 in switching ownership of 6 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.