Sellers continue to pressure JSE stocks

The Main Market of the Jamaica Stock Exchange suffered the seventh day of losses in eight, since the start of the current month as investors take a standby approach to local stocks and cut the majority of prices at the close on Friday.
At the close, the All Jamaican Composite Index dropped 2,824.38 points to 402,653.10, the JSE Market Index declined by 2,597.16 points to 367,397.15 and the JSE Financial Index lost 0.27 points to 95.42. The average PE Ratio of the Main Market ended at 15.4 based on IC’s forecasted 2020-21 earnings.
Trading ended with 42 securities changing hands with the prices of 9 stocks rising, 20 declining and 13 closing unchanged. The market ended with an exchange of 11,791,921 shares accounting for $121,937,846 compared to 16,789,783 units at $102,277,280 on Thursday.
Transjamaican Highway led trading with 3.68 million shares for 31 percent of total volume followed by Sagicor Select Financial Fund with 2.66 million units for 22.6 percent of the day’s trade and Wigton Windfarm with 1.10 million units for 9.3 percent market share.
The average trade for the day ended at 280,760 units at $2,903,282 in contrast to an average of 399,757 at $2,435,173 on Thursday. An average of 1,048,185 units at $3,935,208 each traded for July to date in contrast to 483,377 units at $2,494,914 for each security.  In contrast, June closed with an average of 818,748 units valued at $7,498,303 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the Main market shows ten stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments dropped $1.50 to $57, in trading 952 units, Caribbean Cement fell $2.73 to $46.27 after exchanging 3,529 stock units, Grace Kennedy shed 59 cents to close at $57.40 with investors transferring 325,257 shares. Jamaica Broilers ended $2.05 lower at $24.55, in trading 44,629 stock units, Jamaica Stock Exchange gained 49 cents to close at $23, in exchanging 472,748 shares, JMMB Group shed 50 cents to end at $30.50, with a transfer of 69,230 stock units. Kingston Wharves finished 51 cents lower at $53.49, after trading 57,716 stock units, PanJam Investment climbed $2.50 to settle at $69, with 142,724 shares changing hands, Sagicor Group gained 50 cents in transferring 550,086 shares and ended at $46. Scotia Group closed $1.75 higher at $44.50 as investors traded 376,531 shares, Seprod dipped 75 cents to $51.75, with an exchange of 13,000 units and Sterling Investments ended at $2.45, having lost 40 cents trading 100,159 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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