Sharp drop in JSE Main Market in trading

Trading dropped sharply on the Jamaica Stock Exchange Main Market on Wednesday, compared to Tuesday, with a 77 percent fall volume of stocks traded and an 87 percent drop in value following trading in 56 securities compared with 58, with prices of 17 rising, 26 declining and 13 ending unchanged.
A total of 17,334,420 shares were traded for $83,845,979 compared to 76,180,578 units at $630,021,406 on Tuesday.
Trading averaged 309,543 shares at $1,497,250 compared with 1,313,458 shares at $10,862,438 on Tuesday and month to date, an average of 606,480 units at $4,976,885, versus 752,344 units at $6,686,180 on the previous day. Trading in June closed with an average of 366,795 units at $6,952,581, including Bonds trading.
Ciboney Group led trading with 6.43 million shares for 37.1 percent of total volume, followed by Sagicor Select Financial Fund with 2.75 million units for 15.9 percent of the day’s trade, Transjamaican Highway ended with 2.58 million units for 14.9 percent of market share, Wigton Windfarm chipped in with 2.41 million units for 13.9 percent share and Carreras with 1.13 million units for 6.5 percent of total volume.
The All Jamaican Composite Index lost 1,461.79 points to finish at 364,684.10, the JSE Main Index fell 487.98 points to close at 328,377.50 and the JSE Financial Indexslipped 0.53 points to close at 71.93.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.3 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 13 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Producers popped 90 cents in closing at $10.95 after an exchange of 35,426 shares, Eppley dropped $1.90 to $34 with shareholders swapping 1,471 units, First Rock Real Estate dipped 98 cents to end at $9.02 with stakeholders exchanging 40,939 stock units, Guardian Holdings fell $40.49 to close at $412.01 after an exchange of 259 stocks. Jamaica Broilers rallied $1.14 to $36.95 with a transfer of 27,974 stocks, Jamaica Stock Exchange shed $1.29 to $10.21 in trading 138,185 stock units, Kingston Wharves increased $1.90 in closing at $29.90 after 876 units crossed the market, Margaritaville lost $2.75 and ended at $15.30 after 1,105 shares passed through the exchange. Mayberry Investments rose 50 cents to end at $9 while exchanging 1,606 shares, NCB Financial advanced 45 cents to close at $65.50 in switching ownership of 121,185 stock units after the price hit an intraday 52 weeks’ low of $60, Pan Jamaica declined $2.01 and ended at $50.99, with 507,508 stocks crossing the exchange, Proven Investments declined $1 to end at $24.06 with 1,206 units crossing the market. Sagicor Group dipped $1 to close at $48 after a transfer of 38,194 stocks, Seprod shed $5.30 to $70.01 in an exchange of 2,630 stock units, Sygnus Real Estate Finance rose $1.22 in closing at $12 with 816 shares clearing the market.
In the preference segment, Eppley 5% preference share gained $2.87 and ended at $20 in an exchange of 100 units, Eppley 7.50% preference share rallied 61 cents to end at $6.70, after trading 868 units and Jamaica Public Service 7% advanced $6.12 to $55 and closed with an exchange of 1,488 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.