The Jamaica Stock Exchange US Dollar market dropped nearly 7 percent on Wednesday, with no stock recording a price rise, four falling and five ending unchanged, with the volume of stocks traded falling moderately, with a 25 percent lower value than on Tuesday, resulting in an exchange of nine securities, down from 10 on Tuesday.
The market closed with an exchange of 1,108,531 shares worth US$101,391 compared to 1,129,940 stock units at US$134,480 on Tuesday.
Trading averaged 123,170 shares at US$11,266, up from 112,994 stocks at US$13,448 on Tuesday, with a month to date average of 83,678 units at US$7,895 in line with 80,812 stocks at US$7,651 on the previous day and February that ended with an average of 115,433 units for US$5,430.
The US Denominated Equities Index sank 15.33 points to 215.22. The Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and one with a lower offer.
The PE Ratio, one of the best known measures to determine appropriate stock values, averages 10.4. The PE ratio is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with financial year ending around August 2025.
At the close of the market, AS Bryden shed 3.9 cents to close at 16.5 US cents with investors dealing in 3,958 shares, Productive Business Solutions remained at US$1.45 with a transfer of 6 stocks, Proven Investments lost 1 cent to finish at 9 US cents as investors exchanged 648,165 shares. Sterling Investments ended at 1.87 US cents after a transfer of 50,000 stock units, Sygnus Credit Investments ended at 7 US cents with 11,346 shares clearing the market, Sygnus Real Estate Finance USD share ended at 7.94 US cents with an exchange of 1,209 stocks and Transjamaican Highway slipped 0.33 of a cent to 2.37 US cents with 377,725 units crossing the market.
In the preference segment, JMMB Group 7.5% preferred share slipped 1 cent and ended at US$2 with investors swapping 13,646 stock units and JMMB Group US8.5% preference share ended at US$1.03 after an exchange of 2,476 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The selling shareholders are Sportswear Producers Limited with 168,722,866 shares or 15.3384 percent of the CPJ issued capital, Thomas Tyler with 82,830,563 with 7.5301 percent and Wave Trading Limited with 82,755,239 shares with 7.5232 percent. ASB swapped 94.87 million of their shares to the CPJ sellers.
At the close of trading, 17,340,719 shares were exchanged in all three markets, down from 26,660,691 units on Wednesday, with the value of stocks traded on the Junior and Main markets amounted to $109.09 million, down from $154.59 million on Wednesday and the JSE USD market closed with an exchange of 156,654 shares for US$16,462 compared to 664,963 units at US$18,341 on Wednesday.
The major declining Main Market stocks include Pan Jamaica skidded $3.95 to $45.55, Sagicor Group fell 99 cents to end at $42 and Scotia Group dropped $2.34 in closing at $39.06.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Main market stocks were helped considerably by the market recovering 6.5 percent since early December with the market closing with a bullish tone.
gained 22 percent and Stanley Motta 14 percent followed by the Trinidad based Massy Holdings up 13 percent, in a year when only 13 stocks posted gains in the main market.