Market activity ended on the Jamaica Stock Exchange Main Market on Thursday, with the volume of stocks traded declining 20 percent with 72 percent lower value than on Wednesday, leading to more stocks declining than rising.
Trading ended with 54 securities down from 56 on Wednesday, with 20 rising, 22 declining, and 12 remaining unchanged. The All Jamaican Composite Index dropped 2,384.19 points to 440,719.77, the JSE Main Index lost 543.36 points to close at 387,606.85 and the JSE Financial Index climbed 0.06 points to settle at 91.81.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.7 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 10,590,832 shares were traded for $135,566,664 versus 13,218,682 units at $481,286,926 on Wednesday. Trading averages 196,127 units at $2,510,494, compared to 236,048 shares at $8,594,409 on Wednesday and month to date, an average of 239,071 units at $2,890,834, compared to 246,228 units at $2,954,224 on the previous trading day. May closed with an average of 238,645 units at $3,561,016.
Caribbean Producers led trading with 1.87 million shares for 17.6 percent of total volume, followed by Wigton Windfarm with 1.56 million units for 14.7 percent of the day’s trade, Sagicor Select Financial Fund chipped in with 1.46 million units for 13.8 percent of market share. JMMB Group 7.25% preference share due 2024 ended with 1.20 million units for 11.4 percent market share, Portland JSX traded 1.14 million units for 10.8 percent market share and Transjamaican Highway closed with 1.05 million units for 9.9 percent market share.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and three stocks with lower offers.
At the close, Barita Investments gained 40 cents to close at $88.40, with 13,879 shares crossing the market, Caribbean Cement dropped $11.60 in ending at $61 after trading 53,771 stocks, Eppley Caribbean Property Fund popped $1 to end at $45, with 5,633 units changing hands. GraceKennedy fell $2.50 in closing at $105 in trading 497,646 stock units, Guardian Holdings lost $1 to close at $511 in exchanging 39 stock units, Jamaica Broilers climbed 91 cents to end at $27.98, with 10,735 stocks crossing the market. Jamaica Producers dropped 40 cents to close at $22.30 with the swapping of 2,245 units, Jamaica Stock Exchange shed 60 cents to $18 and closed with 10,640 shares changing hands, Kingston Properties rallied 42 cents to $7.91 after exchanging 343 stocks. Kingston Wharves shed $2.49 in closing at $36.50 while trading 5,394 units, Massy Holdings advanced $1.25 to $94 with 76,770 shares clearing the market, Mayberry Investments declined 34 cents to close at $10.06 with an exchange of 4,460 stock units. Mayberry Jamaican Equities rose $1.22 to $15.22 in exchanging 6,283 shares, NCB Financial increased $2.01 in closing at $103 in switching ownership of 47,734 units, Portland JSX gained $1.37 to end at $10.80 in an exchange of 1,142,163 stocks. Proven Investments popped 77 cents in, ending at $37.82, with 9,842 stock units crossing the exchange, Sagicor Group rallied 90 cents to close at $56.90 after trading 46,587 shares, Scotia Group fell $1.12 in closing at $36.03 with an exchange of 23,712 stock units. Supreme Ventures slipped 25 cents to $30.25, trading 40,907 units and Sygnus Real Estate Finance dropped $1.52 to end at $14 after exchanging 173 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.