Surge in trading on JSE Main Market

Rising stocks outnumbered declining ones by a substantial margin leading the Main Market indices of the Jamaica Stock Exchange to gains on Monday as the value of stocks trading surged nearly three times Friday’s level.
At the close, JSE All Jamaican Composite Index jumped by 2,789.02 points to close at 554,585.11, the JSE Market Index climbed 2,373.62 points to close at 505,948.81 and the JSE Financial Index inched 0.74 points higher to 136.67.
The market closed with 43 securities changing hands in the main and US dollar markets with the prices of 20 rising, 10 declining and the 12, closing unchanged. JSE Main Market activity ended with 39 securities accounting for 23,258,908 units at $2,096,079,296, in contrast to 59,610,460 units for $774,571,962 on Friday, from 37 securities.
NCB Financial dominated trading with 8 million shares and 35 percent of volumes traded followed by Caribbean Cement with 5.3 million units for 23 percent of the day’s trade and with Sagicor Select Funds financial sector with 4.6 million shares for 20 percent market share.
The market closed with an average of 596,382 units for $53,745,623 for each security traded, in contrast to 1,528,704 units valued at an average of $21,515,888 on Friday. The average volume and value for the month to date amounts to 469,338 units for $11,590,816  and previously, an average of 457,043 units for $7,086,604 for each security changing hands. The market closed out November with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and two closed with lower offers. The PE ratio of the market ended at 19, with the Main Market ending at 18.6 times the current year’s earnings.
In the premier market, Barita Investments climbed $1 to settle at $72 with 10,200 shares changing hands, Berger Paints traded 373 shares and gained 60 cents to end at $17.80, Caribbean Cement lost 50 cents to end at $74, with 5,257,837 units crossing the exchange. Eppley Caribbean Fund dropped $7.52 to settle at a 52 weeks’ low of $30.50 with 32,346 shares changing hands, JMMB Group dived $8 to end at $40, trading 10,185 stock units. Kingston Wharves gained $1.75 to settle at $62.75, in trading 1,326 units, NCB Financial Group gained $1.90 to close at $203, in swapping 8,065,181 shares, 138 Student Living fell 83 cents to end at $4.10, with 750 shares crossing the exchange. Proven Investments traded 32,239 and rose 85 cents to close at $47.85, Pulse Investments fell 39 cents to $4.30, with 5,320 units changing hands, Sagicor Group gained $1.99 to end at $67.99, trading 17,141 shares, Sagicor Real Estate Fund exchanged 600 after rising 51 cents to end at $10.51. Salada Foods climbed 95 cents to settle at $30.95 with 16 shares changing hands, Scotia Group dropped $2 to settle at $55.50, in transferring 62,328 shares, Seprod shed 20 cents in trading 17,900 stock units to close at $50.45, Stanley Motta gained 60 cents to end at $5.90, trading 81 shares. Supreme Ventures rose 28 cents to close at $25.56 with 14,671 units crossing the market, Sygnus Credit Investments climbed $1.59 to $22.79 while exchanging 10,599 shares and Wisynco Group fell 50 cents to $23.50 with 197,674 shares changing hands. In the preference sector, Productive Business Solution 9.75% traded 100 units and rose $3 to close at $103.
Trading in the US dollar market closed with 223,174 units valued at US$135,657 with the market index adding 5.09 points to close at 222.51. Productive Business Solution traded 100 units and rose 6 cents to a 52 weeks’ high of 65 US cents. Proven Investments transferred 206,054 shares to close at 32 US cents, Sygnus Credit Investments gained 1 cent in exchanging 12,020 shares at 15 US cents and JMMB Group 5.5% preference share closed trading of 5,000 units and gained 2 cents to end at $2.02.