Stocks drop on Tuesday

Stocks mostly declined in Main Market activity on the Jamaica Stock Exchange on Tuesday, after the volume of stocks traded declined 4 percent but with an 83 percent greater value than on Monday, with 56 securities trading down from 57 on Monday, and ended with 16 rising, 28 declining and 12 ending unchanged.
A total of 15,475,658 shares were traded for $123,996,797 versus 16,146,320 units at $67,828,590 on Monday.
Trading averages 276,351 units at $2,214,229 versus 283,269 shares at $1,189,975 on Monday and month to date, an average of 208,638 units at $1,287,544 versus 194,849 units at $1,098,838 on the previous trading day. October closed with an average of 231,243 units at $1,464,224.
Transjamaican Highway led trading with 5.53 million shares for 35.7 percent of total volume followed by Radio Jamaica with 2.51 million units for 16.3 percent of the day’s trade, Pulse Investments with 2.05 million units for 13.3 percent market share and Wisynco Group with 1.25 million units for 8 percent market share.
The All Jamaican Composite Index dropped 3,612.99 points to 393,037.27, the JSE Main Index shed 1,329.63 points to end at 345,693.08 and the JSE Financial Index dipped 0.67 points to settle at 82.69.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.3 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell $2.80 to 91.98 after trading 15,982 stocks, Caribbean Cement shed $4 to end at $57.50, with 6,138 stock units crossing the market. Eppley Caribbean Property Fund declined $1.70 in closing at $38.30 after exchanging 560 units, First Rock Real Estate fell 87 cents to $13.55 clearing the market with 7,625 stock units, GraceKennedy dipped $1.60 to $85.40 in trading 31,476 units. Guardian Holdings climbed $28.97 to end at $524.99 with an exchange of 5 shares, Jamaica Broilers increased 50 cents to $28.50 as investors exchanged 538,867 stocks, Kingston Wharves dipped $1.25 to close at $36.25 while exchanging 2,236 shares. Massy Holdings lost $4.99 in closing at $74.01 after trading 301,694 stocks, NCB Financial declined $2 to close at $83 with 193,074 units changing hands, PanJam Investment fell $2.55 in closing at $51.45 after exchanging 13,262 stock units. Proven Investments dropped $2.10 to $30, with 4,772 units crossing the market and Scotia Group shed $1 to end at $35 with a transfer of 294,706 shares.
In the preference segment, 138 Student Living preference share rallied $10.45 to $60, with one stock unit changing hands, Productive Business Solutions 9.75% preference share fell $21 to close at $119 in switching ownership of 5 stocks and Productive Business Solutions 10.5% dropped $100 to close at $1050, with 100 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.