Stocks tumble on the JSE Main Market Tuesday

Declining stocks exceeded those rising by three to two on the Jamaica Stock Exchange Main Market on Tuesday as the volume of stocks traded fell 40 percent, with a modest rise in the value traded over Monday’s activity. 
The All Jamaican Composite Index lost 4,175.98 points to close at 438,261.99, the JSE Main Index dropped 4,103.95 points to 384,123.36 and the JSE Financial Index fell 1.26 points to settle at 90.33.
Trading ended with 53 securities compared to 54 on Monday, with 15 rising, 22 declining and 16 ending unchanged.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.5 for the Main Market. The JSE Main and USD Market PE ratios use earnings forecasted by ICInsider.com’s for companies with financial years ending up to the close of August 2023.
A total of 8,858,814 shares were traded for $90,095,210 versus 14,684,649 units at $86,847,608 on Monday. Trading averages 167,147 units at $1,699,910, compared to 271,938 shares at $1,608,289 on Monday and month to date, an average of 248,355 units at $1,775,667, compared to 268,374 units at $1,794,355 on the previous trading day. May closed with an average of 238,645 units at $3,561,016.
Transjamaican Highway led trading with 2.27 million shares for 25.6 percent of total volume, followed by Wigton Windfarm with 1.68 million units for 18.9 percent of the day’s trade and Mayberry Jamaican Equities with 798,271 units for 9 percent of market share.
The Investor’s Choice bid-offer indicator shows 12 stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement rose $8 to end at $74 in an exchange of 68,331 shares, following an announcement by the company to recommend the payment of a dividend of $1.50 per share to the annual general meeting. Eppley dropped $9.99 to $39.01, with 2,000 units crossing the market, Eppley Caribbean Property Fund climbed $2.25 to close at $45 in trading 4,486 stocks. GraceKennedy rallied 47 cents in closing at $108 31,333 stock units after crossing the market, Guardian Holdings popped $13, ending at $533 while exchanging 1,849 stock units, Jamaica Broilers declined $1 to $26, trading 32,400 units. Jamaica Producers fell 95 cents in closing at $21.80 with the swapping of 36,235 shares, Kingston Properties shed 41 cents to close at $7.49 in exchanging 4,499 stocks, Mayberry Investments dropped 50 cents in ending at $9.45 with an exchange of 39,766 units. NCB Financial fell 50 cents to end at $101 with the trading of 77,865 shares, Palace Amusement dropped $2 in ending at $988 after an exchange of just one stock, Portland JSX declined $2.06 to end at $6.50 after the exchange of 1,055 stock units. Proven Investments lost 36 cents to end at $37.45 as 232,629 units changed hands, Sagicor Group gained $3.23 in closing at $57 in switching ownership of 167,268 shares and Seprod shed 48 cents to close at $71.02 with 11,725 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.