Strong JSE gain ahead of month end

The main market of the Jamaica Stock Exchange recorded gains in the major market indices on Wednesday, ahead of the month-end, with moderately lower volume and value than on Tuesday.
At the close, the JSE All Jamaican Composite Index climbed 2,643.80 points to close at 539,804.34; the JSE Index advanced 2,371.17 points to 491,610.04 and the JSE Financial Index gained 0.33 points to close at 133.41.
Trading closed with 41 securities changing hands in the main and US dollar markets with 15 stocks advancing, 18 declining and 8 traded firm. Main market activity ended with 38 securities trading 29,380,399 units valued at $238,224,184, in contrast to 36,170,897 units valued at $276,199,901 on Tuesday with 40 securities trading.
Wigton Windfarm dominated trading with 19.8 million shares for 68 percent of total volume, followed by Sagicor Select Funds with 4.4 million units accounting for 15 percent of the day’s trade and Barita Investments with 1.2 million shares for 4 percent of the market’s trade.
The market closed with an average of 773,168 units valued at an average of $6,269,057 for each security traded, in contrast to 951,866 units valued at an average of $7,268,418 on Tuesday. The average volume and value for the month to date amounts to 957,488 units valued at $13,947,047 and previously an average of 967,004 units valued at $13,607,212 for each security traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.6 with the main market ending at 17.2 times 2019 current year’s earnings.
In main market activity, Barita Investments lost $2.50 to settle at $71 trading 1,205,083 shares, Caribbean Cement ended at $77, after losing 39 cents and exchanging 29,927 shares, Eppley Caribbean Fund closed at $32 with a drop of $4 with 6,500 shares changing hands. Eppley gained $1 to close at $15.50, in swapping 200 shares, Grace Kennedy dropped $2.30 exchanging 5,729 shares, to end at $66.17, Jamaica Producers closed 39 cents higher to $22.90 with 29,021 shares changing hands, Kingston Wharves added $1.40, rising to $61.40 with 200 shares traded. Mayberry Investments lost 40 cents to close at $7.50, with 156,234 shares crossing the exchange, MPC Caribbean Clean Energy rose to a record $255, after adding $14 and trading of 546 shares. NCB Financial advanced to $205, after gaining $3 in swapping 228,860 shares, 138 Student Living closed 60 cents higher, in settling at $3.50 with 50,000 shares changing hands, PanJam Investment slid to $97.95, after losing $2.05 with 101,283 shares traded. Proven Investments traded 1,670 shares and lost $1 to end the day at $40, Sagicor Group lost $1 to close at $66, with 27,160 shares being exchanged, Sagicor Real Estate Fund rose 80 cents to $11.60 with an exchange of 106,463 shares, Salada Foods lost 30 cents to settle at $29 after 520 shares crossed the exchange. Scotia Group closed 30 cents higher at $53.30, in swapping 156,085 shares, Seprod lost 38 cents to close at $51.68, trading 21,160 units, Supreme Ventures closed at $25.15 with a loss of 84 cents, after exchanging 16,010 shares. Sygnus Credit Investments closed 50 cents lower to end at $21.50 after trading 11,934 shares and Wisynco dropped $1.13 exchanging 410,239 shares to close at $21.
Trading in the US dollar market ended with 143,392 units valued at US$64,655 with the market index losing 6.55 points to close at 193.38. JMMB Group 6% preference shares closed at US$1.01 after trading 40,688 shares, Proven Investments lost a fraction of 1 US cent trading 76,688 units to close at 27.9 US cents and Sygnus Credit Investments exchanged 26,016 shares to end at 14 US cents, after gaining 1 US cent.