Stocks rose but market index plunges

The Jamaica Stock Exchange Main Market indices plunged sharply lower for the second time since Monday even as more stocks rising than falling after against the backdrop of an 85 percent fall in the number of shares changing hands with a lower consideration than on Tuesday.
The All Jamaican Composite Index dropped 6,185.85 points to 423,334.43, the JSE Main Index declined by 5,597.74 points to 386,297.95 and the JSE Financial Index shed 2.47 points to settle at 100.20.
Trading ended with 44 securities changing hands compared to 46 on Tuesday and closed with the prices of 18 stocks rising, 15 declining and 11 remaining unchanged. The average PE Ratio ended at 16.5 based on ICInsider.com’s forecast of 2020-21 earnings.
Investors traded 4,210,405 shares for $40,575,680 compared to 28,767,472 units at $57,416,333 on Tuesday. Wigton Windfarm led trading with 20.8 percent of total volume after exchanging 874,540 shares, followed by Sagicor Select Financial Fund with 19.5 percent for 822,756 units and QWI Investments with 18.7 percent market share for 788,529 units.
Trading for the day averaged 95,691 units at $922,175 for each security, compared to an average of 625,380 shares at $1,248,181 on Tuesday. The average month to date trade is 339,174 units at $4,948,422 for each security, in contrast to 380,065 units at $5,624,586 . November averaged 623,120 units at $6,686,047.
Investor’s Choice bid-offer indicator reading shows six stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments shed 40 cents to close at $86.50, in trading 128,936 shares, Caribbean Cement advanced by $3.01 to $57, with 13,475 stock units crossing the exchange, Eppley climbed $4 to $25, after exchanging 8,746 units. Jamaica Stock Exchange lost $1.23 to settle at $18.27, with 14,033 stock units passing through the market, JMMB Group rose $1.99 after trading 296,092 shares to finish at $35, Key Insurance fell $1 to $8.50, in clearing the market with 384,826 shares. Kingston Wharves gained 45 cents to end at $47, after exchanging 715 units, Mayberry Investments fell $1.14 to $5.61, in trading 152 units, Mayberry Jamaican Equities shed $1.01 in closing at $7.22, after an exchange of 5,000 units. NCB Financial Group rose $1.96 in closing at $147, in trading 32,220 stock units, Pan Jam Investment declined by $4 to $64, with 5,507 units changing hands, Portland JSX gained $1.48 to end at $8.48 in transferring 1,000 units. Sagicor Real Estate Fund rose $1.49 to $7.50 after crossing the exchange with 2,500 units, Scotia Group gained 88 cents to close at $44 trading 74,187 shares, Sterling Investments gained 47 cents to settle at $3, in crossing the market with 100,000 shares. Sygnus Credit Investments closed at $17.27, with gains of 70 cents, with 8,693 units changing hands and Wisynco Group lost 38 cents to end at $16.10 after investors swapped 22,510 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

About IC Insider.com