Sharp drop in JSE Main Market trading

The volume of stocks traded declined 60 percent with 53 percent lower value than on Friday, with trading taking place in 58 securities the same number as on Friday, with 18 rising, 26 declining and 14 ending unchanged in trading activity on the Jamaica Stock Exchange Main Market on Monday.
A total of 9,529,184 shares were traded for $38,472,860 compared with 24,040,809 units at $81,535,879 on Friday.
Trading averaged 164,296 shares at $663,325 versus 414,497 stocks at $1,405,791 on Friday and month to date, an average of 249,752 units at $1,016,812 compared with 294,006 units at $1,199,867 on the previous day. May closed with an average of 226,361 units at $1,362,447.
Wigton Windfarm led trading with 3.84 million shares for 40.3 percent of the total volume, Transjamaican Highway followed with 2.58 million units for 27 percent of the day’s trade and Radio Jamaica with 622,238 units for 6.5 percent market share.
The All Jamaican Composite Index dropped 1,262.06 points to close trading at 369,455.98, the JSE Main Index lost 279.16 points to settle at 335,318.38 and the JSE Financial Index lost 0.06 points and concluded trading at 75.19.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.4 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 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints popped 60 cents in closing at $8.11 after an exchange of 1,059 shares, Caribbean Cement fell $3.85 to $52 after investors traded 22,874 stocks, Eppley Caribbean Property Fund dipped $2.60 to end at $40.40 with 184 stock units changing hands. Guardian Holdings dropped $2 to close at $480 in an exchange of 1,450 units, Jamaica Broilers declined 94 cents to $35, with 63,678 stocks crossing the market, Jamaica Stock Exchange increased 72 cents to $13.72 after 11,001 shares crossed the exchange. Key Insurance rallied 58 cents to close at $3.38 with shareholders swapping 100 stock units, Massy Holdings climbed $2 to end at $102, with 557 units clearing the market, MPC Caribbean Clean Energy rallied  $1 to $71 in an exchange of 84 stocks. NCB Financial rose $1.15 to $69.75 with 40,595 stock units changing hands, 138 Student Living rallied 33 cents to $5.48 as investors traded 1,033 units, Pan Jamaica Group lost $4.04 in closing at $50.05 after 2,252 shares were traded, Sagicor Group shed $1 to end $49.50, with 16,683 stocks changing hands. Scotia Group dropped 65 cents to end at $34.10, with 36,625 stock units crossing the market, Seprod shed $1.46 to close at $68.54 with a transfer of 22,768 units, Supreme Ventures declined 30 cents to $26.50 as 111,196 shares passed through the market and Wisynco Group lost 39 cents and ended at $18.50 in switching ownership of 6,227 shares.
In the preference segment, Jamaica Public Service 7%  fell $11.78 to close at $66.72 with investors transferring 191 stock units and JMMB Group 7.15% due 2028, dipped 32 cents in closing at $2.68 after an exchange of 20,041 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.