Stocks dive on the JSE on Monday

On a day when Carreras and Scotia Group hit intraday lows of $6.20 and $30.11, the Jamaica Stock Exchange Main Market gave back thousands of points in the main indices on Monday, with the volume of stocks traded rising 34 percent and valued 526 percent more than on Friday after 61 securities were traded compared to 57 on Friday, with 15 rising, 29 declining and 17 ending unchanged and leading to a big surge in the value of stocks traded.
A total of 22,909,155 shares were traded for $1,091,762,298 compared to 17,038,158 units at $174,268,763 on Friday. Trading averages 375,560 units at $17,897,743 versus 298,915 shares at $3,057,347 on Friday and month to date, an average of 765,882 units at $5,638,283, compared to 788,281 units at $4,934,777 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
GraceKennedy led trading with 10.77 million shares for 47 percent of total volume followed by Transjamaican Highway with 5.68 million units for 24.8 percent of the day’s trade, Wigton Windfarm with 1.63 million units for 7.1 percent market share and Caribbean Producers ended with 1.13 million units for 4.9 percent of the day’s trades.
The All Jamaican Composite Index lost 4,970.96 points to end at407,706.55, the JSE Main Index fell 3,398.45 points to 359,146.76 and the JSE Financial Index shed 1.59 points to close at 85.56.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints dropped 94 cents to $10.51 after trading 1,629 shares, Caribbean Producers jumped $1.44 to close at $14.70 after 1,127,687 stocks passed through the market, Eppley fell $1 to $40 with 2,823 units clearing the market. Eppley Caribbean Property Fund lost $4.98 in closing at $40.02, with 820 stock units changing hands, First Rock Real Estate rallied 96 cents to end at $12.46 while exchanging 118 stock units, GraceKennedy shed $1.59 to end at $93.40 in an exchange of 10,773,935 stocks. Guardian Holdings declined $18.99 in closing at $511.01 with a transfer of 57 shares, JMMB Group dipped 51 cents to $40.99 as investors exchanged 29,513 units, Kingston Properties declined 35 cents to close at $7.05 in exchanging 4,555 stock units. Kingston Wharves popped $1.15 to end at $39 after a transfer of 5,323 units, Margaritaville fell $1 to $26.55 in exchanging 58 stocks, Massy Holdings lost $1 to close at $85.50 in trading 3,005 shares. Mayberry Investments dropped 78 cents to end at $9.12 in switching ownership of 535,690 stock units, MPC Caribbean Clean Energy shed $16.49 to $68 after trading 259 units, NCB Financial advanced $1.80 in closing at $92.80 with investors transferring 32,384 stocks. 138 Student Living dipped 75 cents to end at $6.50 with 76,424 shares changing hands, Palace Amusement climbed $11 to close at $711 with the swapping of 123 shares, Portland JSX fell $3 to $9 with an exchange of 95,118 units. Sagicor Group lost $3.49 after ending at $51.01, with 21,517 stocks crossing the market, Salada Foods shed 42 cents in closing at $4.90 with an exchange of 5,446 stock units, Scotia Group declined $1.63 ending at a 52 weeks’ low of $32.38 after exchanging 106,989 units and Stanley Motta dipped 63 cents in closing at $4.66 with investors transferring 34,909 stock units.
In the preference segment, Jamaica Public Service 9.5% jumped $450 to close at $3100 after trading 12 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.