Second day of losses for JSE majors

The Jamaica Stock Exchange Main Market ended trading on Wednesday with the market declining for a second day after more stocks fell than rose and investors exchanged 82 percent fewer shares than and 30 percent of the value of Tuesday’s amounts.
At the close, the All Jamaican Composite Index dropped 2,905.64 points to close at 404,865.14, the Main Index shed 2,630.02 points to settle at 369,556.63 and the JSE Financial Index 1.24 points to close at 95.77.
Trading ended with 44 securities changing hands, the same as Tuesday, with the prices of 18 stocks rising, the prices of 20 declining and six remaining unchanged and the average PE Ratio of the market ended at 15.4 based on IC’s forecast of 2020-21 earnings.
The market closed with an exchange of 7,635,914 shares for $44,926,751 compared to 41,738,542 units at $151,520,182 on Tuesday.
Sagicor Select Financial Fund and Wigton Windfarm led trading with 1.70 million shares and 22 percent of total volume each, followed by QWI Investments with 1.40 million units for 18.4 percent market share. Transjamaican Highway was the only other stock to exceed a million shares and ended with 1.01 million units changing hands.
An average of 173,544 units traded for the day at $1,021,063 for each security, in comparison to an average of 948,603 shares at $3,443,641 on Tuesday. An average of 432,976 units traded for the month to date at $2,232,352 for each security that traded, in contrast to 561,234 units at $2,693,430. Trading month to date compares well to July that ended with an average of 392,128 shares for $2,444,356.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 9 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments shed $3.80 in ending at $54 while exchanging 13,432 shares, Caribbean Cement gained $2 to settle at $45.90, with 7,733 stocks passing through the market, Eppley Caribbean Property Fund rose $1.05 and closed at a 52 weeks’ high of $50, with investors switching ownership of 1,090 units. First Rock Capital carved out a gain of 81 cents to settle at $14.80 after finishing with 123,805 stock units changing hands, Jamaica Producers Group increased $1.75 to settle at $23.75, with 12,456 units passing through the market. Jamaica Stock Exchange carved out a loss $1 in ending at $22, with 6,985 shares passing through the market, Key Insurance rose 35 cents in ending at $8.95 with investors switching ownership of 92,094 shares, Kingston Wharves carved out a loss $3.50, with $50 569 units passing through the market. Mayberry Investments lost 99 cents to close at $5 trading 104,727 stocks, Mayberry Jamaican Equities lost 55 cents to end at $8.75 in trading 51,450 units, Palace Amusement dropped by $232.50 to end at $1,550 while exchanging 172 shares. PanJam Investment gained $3 to sit at $69, with 2,258 shares crossing the exchange, Sagicor Group carved out a loss $1.45 to close at $42.50, after 111,287 units changed hands, Scotia Group fell $3.95 to $44.05 in an exchange of 25,815 shares and Sygnus Credit Investments declined by 50 cents to settle at $16 while exchanging 9,658 stock units.
Community & Workers Credit Union preference share jumped 59 cents to close at a record closing high of an incredible $3.10 after exchanging 123,000 stock units and closed with a dividend yield of just two percent.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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