Stocks fall again on JSE Main Market

Trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday with an 11 percent increase in the volume of stocks traded and the value climbing 202 percent compared to Tuesday, with 58 securities trading compared to 57 on Tuesday, leading to 20 rising, 22 declining and 16 ending unchanged.
A total of 23,771,804 shares were exchanged for $827,732,498 up from 21,485,881 units at $273,787,529 on Tuesday.
Trading averaged 409,859 shares at $14,271,250 up from 376,945 shares at $4,803,290 on Tuesday and month to date, an average of 228,353 units at $4,415,619 compared with 191,544 units at $2,417,068 on the previous day. February closed with an average of 183,599 units at $2,160,070.
Jamaica Broilers led trading with 8.74 million shares for 36.8 percent of total volume followed by PanJam Investment with 4.55 million units for 19.1 percent of the day’s trade, Seprod with 3.23 million units for 13.6 percent market share, Wigton Windfarm, with 1.99 million units for 8.4 percent and JMMB Group 7.5% with 1.40 million units for 5.9 percent market share.
The All Jamaican Composite Index fell 2,228.52 points to 374,184.41, the JSE Main Index shed 1,635.68 points to end at 331,311.42 and the JSE Financial Index dipped 0.22 points to 77.89.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement rallied $3.23 to $60.98 as investors exchanged 324,023 shares, Eppley fell $2.47 to close at $35 after a transfer of 3,442 stocks, GraceKennedy advanced $2.93 to $85 with 13,835 units changing hands. Jamaica Broilers rose $1.50 to a new 52 weeks’ closing high of $38 with investors trading 8,737,660 stock units, Jamaica Producers popped 94 cents in closing at $22.90 in an exchange of 227,784 stocks, JMMB Group gained 47 cents to settle at $31 in switching ownership of 8,559 stock units. Key Insurance popped 46 cents to $3.16 in an exchange of 100 shares, Kingston Properties gained 60 cents in ending at $7.20 with the swapping of 10,005 units, MPC Caribbean Clean Energy rose $11 to close at $81 in exchanging 55 shares. NCB Financial rallied 35 cents to end at $74 after 48,650 stock units passed through the market, Palace Amusement shed 66 cents to close at $2.44 trading 769,317 stocks, PanJam Investment dipped 55 cents to $56.50 after an exchange of 4,552,272 units. Proven Investments lost $1.35 to close at $27.15 with the swapping of 995 units, Sagicor Group declined $3.98 to end at $49.02 with a transfer of 4,583 shares, Scotia Group gained 35 cents in closing at $34.85 with 3,917 stock units changing hands and Seprod declined $7.89 to $62 in switching ownership of 3,226,556 stocks.
In the preference segment, Jamaica Public Service 7% climbed $11.50 to a record $75 as investors traded 1,179 stocks and JMMB Group 7.15% – 2028 lost 39 cents to close at $2.43 after 8,005 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.