Stocks pull back to start the week

Stocks mostly declined in prices in trading on the Jamaica Stock Exchange Main Market on Monday, even with the volume of stocks traded rising 100 percent, but the value traded was 25 percent lower than on Friday, resulting in 61 securities trading compared to 58 on Friday, with 19 rising, 29 declining and 13 ending unchanged.
A total of 17,840,357 shares were traded for $50,065,528 compared to 8,921,791 units at $66,764,856 on Friday.
Trading averaged 292,465 shares at $820,746 versus 153,824 shares at $1,151,118 on Friday and month to date, an average of 209,764 units at $1,286,709 compared to 200,991 units at $1,336,141 on the previous day. April closed with an average of 264,549 units at $1,409,410.
Transjamaican Highway led trading with 7.30 million shares for 40.9 percent of total volume as demand rises for the stock, with investors pushing the price to a record high of $2.20 before closing lower. Wigton Windfarm followed with 4.04 million units for 22.7 percent of the day’s trade, QWI Investments was next with 2.40 million units for 13.5 percent market share and Sagicor Select Financial Fund with 1.30 million units for 7.3 percent of the total volume.
The All Jamaican Composite Index fell 2,299.52 points to settle at 367,275.61, the JSE Main Index shed 1,073.25 points to settle at 332,634.38 and the JSE Financial Index fell 0.14 points to finish at 75.23.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded stock prices and earnings forecasted by ICInsider.com for companies with the financial year ending up to August 2023.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments dropped 65 cents to close at $76.85, with 6,760 shares changing hands, Caribbean Cement shed $1.20 in closing at a 52 weeks’ low of $50 after a transfer of 29,980 stocks and after hitting an intraday low of $45.10, Eppley Caribbean Property Fund rallied $8.72 and ended at $43.79 with investors transferring 127 stock units. GraceKennedy fell 88 cents to $81.50, with 29,124 units clearing the market, Guardian Holdings increased $10 to end at $490 with shareholders swapping 30 units, Jamaica Broilers climbed $2.54 in closing at $36.49 after exchanging 137,599 shares. JMMB Group popped 50 cents to $29.80 in switching ownership of 46,629 stocks, Kingston Wharves lost 49 cents to end at $32.50 while exchanging 168 stock units, Massy Holdings advanced $1.50 and ended at $97.50 in an exchange of 520 units, Mayberry Investments dipped 87 cents to $6.91 with 90 shares crossing the market. Mayberry Jamaican Equities declined 49 cents in closing at $10.01 in an exchange of 174 stock units, MPC Caribbean Clean Energy declined $7 and ended at $83 after an exchange of 275 stocks, NCB Financial lost 49 cents to end at $71.01 with a transfer of 51,642 stock units. Pan Jamaica Group shed $2.09 to close at $52 trading 18,512 units, Sagicor Group fell $2.72 to $48.27, with 101,052 shares crossing the market, Scotia Group dipped 62 cents to $34 as investors exchanged 11,233 stocks. Supreme Ventures dropped 75 cents to end at $26.95 as 35,770 stocks passed through the market, Sygnus Credit Investments dropped 30 cents in closing at $11.25, with 6,077 units crossing the exchange, Sygnus Real Estate Finance shed $1.26 and ended at $11.74 after an exchange of 1,057 shares and Wisynco Group fell 39 cents to close at $17.11 in trading 20,889 stock units.
In the preference segment, Productive Business 10.50% preference share rose $10 to end at $1225 with an exchange of 2 shares, Eppley 5% preference share gained 97 cents in ending at $22.97 after a transfer of 3 stock units. Eppley 7.25% preference share lost $2.49 in closing at $17.50 in an exchange of 20,000 units and Jamaica Public Service 7% advanced $10.97 to close at $105.97 with 2,554 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.