Stocks break two weeks of decline

After two weeks of the Jamaica Stock Exchange Main Market mostly falling on a daily basis, stocks enjoyed a big bounce in the market indices on Monday, after the volume of shares trading declined 28 percent and the value fell marginally below trading on Friday as rising stocks exceeded those declining.
The All Jamaican Composite Index spiked 3,121.23 points to 446,738.55, the Main Index climbed 2,672.56 points to close at 403,250.99 and the JSE Financial Index gained 0.93 points to end at 97.44.
Trading ended with 46 securities down from 53 on Friday, with 15 rising, 12 declining and 19 ending unchanged. The PE Ratio, a measure used in computing appropriate stock values, averages 15.7. The PE ratio for the JSE Main and USD Market quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between now and August 2022.
Trading garnered 7,105,920 shares for $99,181,702 versus 9,856,555 units at $101,827,766 on Friday. Wigton Windfarm led trading with 30 percent of total volume in exchanging 2.13 million shares, followed by Jamaica Broilers 8.3 percent with 592,861 units and Caribbean Producers with 7.4 percent after 523,215 units changed hands.
Trading averages 154,477 units at $2,156,124, compared to 185,973 shares at $1,921,279 on Friday and month to date, an average of 228,041 units at $2,573,940 compared to 232,419 units at $2,598,803 on Friday. September closed with an average of 335,669 units at $7,507,404.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement declined $4 to end at $114.50 in switching ownership of 55,594 shares, Caribbean Producers gained 40 cents in closing at $7 in trading 523,215 stocks, Eppley slipped 45 cents to close at $36.55 with 100 stock units changing hands. GraceKennedy popped 50 cents to $100.55 in transferring 321,137 units, Guardian Holdings climbed $34 in ending at $549 with the swapping of 4,573 stock units, Jamaica Broilers shed 49 cents to close at $30.01 after trading 592,861 units. Jamaica Producers popped $3.35 to finish at $23.40 with 25,296 shares changing hands, Jamaica Stock Exchange rose 60 cents to $17.60 after an exchange of 6,638 stocks, JMMB Group rallied 25 cents to settle at $38.25 with 165,629 units clearing the market. Kingston Wharves slipped 25 cents to $43.10 with 9,491 stocks crossing the market, Margaritaville rose 59 cents to $14.89 in trading 726 shares, NCB Financial advanced $3.98 to $133.98 with an exchange of 39,845 stock units. Sagicor Group rose 97 cents to $52.97 with 50,333 units crossing the exchange, Sagicor Real Estate Fund gained 50 cents to $8.50 in switching ownership of 2,542 shares, Seprod picked up 20 cents at $63.70 in an exchange of 10,581 stock units and Sygnus Credit Investments fell 25 cents to $18.40 after 143,800 stocks crossed the market.