Stocks tumble on JSE Main Market

Trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 568 percent valued 52 percent more than on Tuesday, with 56 securities trading compared with 57 on Tuesday, with 14 rising, 26 declining and 16 ending unchanged.
A total of 55,453,072 shares were traded for $170,749,021 compared with 8,304,936 units at $112,080,292 on Tuesday.
Trading averaged 990,233 shares at $3,049,090 up from 145,701 shares at $1,966,321 on Tuesday and month to date, an average of 285,100 units at $1,757,810, compared to 183,065 units at $1,570,958 on the previous day. September closed with an average of 218,512 units at $1,768,691.
JMMB Group 7.25% preference share due 2024 led trading with 50 million shares for 90.2 percent of total volume followed by Transjamaican Highway with 1.78 million units for 3.2 percent of the day’s trade and Wigton Windfarm with 671,843 units for 1.2 percent market share.
The All Jamaican Composite Index lost 3,204.87 points to finish at 344,012.32, the JSE Main Index declined 2,768.86 points to settle at 311,981.16 and the JSE Financial Index fell 0.62 points to conclude trading at 68.39.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints dipped 45 cents to close at $6.99 with an exchange of 14,778 shares, Caribbean Cement declined $1.50 in closing at $50 after a transfer of 9,223 stock units, Eppley increased 67 cents and ended at $33 in switching ownership of 1,585 stocks, Eppley Caribbean Property Fund jumped $8 to $39.50, with 2,977 units crossing the exchange, GraceKennedy dropped $4.34 to end at $70.51 after trading of 519,056 stocks, Jamaica Broilers shed 99 cents to close at $33, with 8,289 units crossing the market, Jamaica Stock Exchange gained 36 cents and ended at $9.86 with investors transferring 59,858 stock units, JMMB Group fell $1.18 to close at $27.30 after 71,949 shares crossed the market, Mayberry Investments popped 34 cents to end at $7.34 as investors exchanged 21,264 stock units, Proven Investments skidded 54 cents in closing at $21.26 with a transfer of 11,253 stocks, Sagicor Group rose 89 cents in closing at $42.99 in an exchange of 8,554 shares, Scotia Group advanced 80 cents to end at $33.75 after 19,851 units changed hands and Wisynco Group lost $2.65 and ended at $18.05 after 84,786 stocks passed through the market.
In the preference segment, Eppley 7.25% preference share dropped $1.25 to $18.70 with investors dealing in 2,000 shares, Eppley 7.50% preference share rallied 41 cents to close at $6 with 26,945 stock units changing hands, Jamaica Public Service 7% fell $2 to end at $48 in trading 414 units, Jamaica Public Service 9.5% skidded $105 to $2995 with stakeholders exchanging 31 stocks and JMMB Group 7% preference share popped 41 cents and ended at $2.28 with the swapping of 27 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.