Sharp fall for JSE main market

All major indices on the main market of the Jamaica Stock Exchange declined sharply at the close on Monday with a big rise in the volume and value of stocks traded.
At the close, the JSE All Jamaican Composite Index plummeted 7,135.15 points to close at 560,828.42. The JSE Index fell 6,459.35 points to 510,399.61 and the JSE Financial Index lost 2.10 points to close at 139.29.
Trading ended with 37 securities changing hands in the main and US dollar markets with 14 advancing, 15 declining and 8 trading firm. Main market activity ended with 35 securities trading resulting in 98,349,184 units valued at $1,160,920,073 in contrast to 23,630,643 units valued at $239,877,355 on Friday.
Wigton Windfarm led trading with 64.8 million shares for 66 percent of total volume, followed by Supreme Ventures with 10 million units accounting for 10 percent of the day’s trade and Sagicor Select Funds with 6.4 million shares for 7 percent of the market’s trade. Also trading more than a million shares, are Barita Investments with 6,101,250 shares, Scotia Group with 3.88 million shares changing hands and QWI Investments with 2.1 million units and JMMB Group 7.5% preference share ended with 2 million units crossing the exchange.
The Market closed with an average of 2,809,977 units valued at an average of $33,169,145 for each security traded, in contrast to 675,161 units for an average of $6,853,639 on Friday. The average volume and value for the month to date amounts to 1,360,410 shares at $9,708,050 for each security traded and previously 1,000,589 units valued at $3,884,374 for each stock traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 2 with lower offers.
In main market activity, Barita Investments closed 50 cents lower to settle at $79.50 with an exchange 6,101,250 shares worth $487 million, Berger Paints lost 50 cents to close at $19 with 20,717 units traded, Carib Cement gained $2.92 after 8,916 shares changed hands to end at $80. Grace Kennedy ended with a loss of $1, in closing at $70 with 248,951 shares trading, Jamaica Stock Exchange advanced $2.38, after exchanging 64,247 shares to settle at $29.40, JMMB Group closed 51 cents lower at $45.09, after trading down to $35.01 with 315,833 shares changing hands. Kingston Properties lost 60 cents to settle at $5 after trading a mere 150 units, Kingston Wharves dropped $4.50 to $57 with exchange of 34,350 shares, NCB Financial slid $1.10 to settle at $205 while exchanging of 152,373 units, 138 Student Living lost 50 cents to close at $3.25, after trading 12,429 shares. PanJam Investment gained 99 cents in swapping 1,706 shares in ending at $105, Sagicor Group dropped $1 to settle at $70 in trading 120,538 shares, Scotia Group closed 50 cents lower to $61 with 3,881,903 shares changing hands. Seprod declined by $1.50 to end at $53.50 with an exchange of 23,606 shares and Supreme Ventures ended at $27, after advancing $1 in trading 10,002,453 shares.
Trading in the US dollar market ended with 7,966 units valued US$2,180 with the market index rising 0.11 points to close at 198.62. Proven Investments exchanged 7,866 shares, to close at 27 US cents after a marginal gain from 26.99 US cents and Productive Business Solutions traded 100 units after losing 2.5 US cents to end at 57.50 US cents.