Shares of Trans Jamaican Highway, the most recent initial public (IPO) offer in Jamaica, were listed on the main and US dollar markets of the Jamaica Stock Exchange on Tuesday, with the price declining in trading 21 percent at the close, from the J$1.41 IPO price. The stock dominated trading with the highest volume for the day and closed at $1.12 in the local market and 0.09 of a US cent in the US dollar market.
The other big move for the day, was the substantial fall of $16 in the shares of NCB Financial to close at $140, the lowest price of in a year.
At the close four stocks closed at 52 weeks’ low and one at a 52 weeks’ high. The JSE All Jamaican Composite Index declined 826.97 points to 390,578.60, down 30 percent for the year to date. The JSE Market Index lost 748.61 points to 355,986.97, also down 30 percent for 2020 and the JSE Financial Index, which is down 28.6 percent for 2020, gained 0.14 points to close at 98.26.
The market closed with 51 securities changing hands in the Main and US dollar markets with prices of 12 stocks advancing, 28 declining and 11 securities trading firm. The JSE Main Market activity surged well over Monday’s levels after 44 securities passed through the market, accounting for 79,985,445 units valued at $512,772,847, in contrast to 26,276,614 units valued at $347,146,174 from 41 securities on Monday.
Trans Jamaican Highway led trading with 47.8 million shares for 60 percent of total volume, followed by Wigton Windfarm with 23.3 million units for 29 percent of the day’s trade and NCB Financial with 2.9 million units for 3 percent market share. Other stocks trading more than one million units were Trans Jamaican Highway with 2.33 million shares in the US dollar market, Sagicor Select Financial Fund with 1.7 million units and Jamaica Producers with 1.4 million stock units.
The Market closed with an average of 1,817,851 units valued $11,653,928 for each security traded, in contrast to 640,893 units valued at an average of $8,466,980 on Monday. The average volume and value for the month to date amount to 775,631 units valued at $6,653,987 for each security changing hands compared to 708,783 units valued at 6,313,433 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and nine stocks closing with lower offers. The PE ratio of the market ended at 14.3, while the Main Market ended at 13.2 times 2019 earnings. In the Main Market trading, Barita Investments added 76 cents to close at $51.75, with 60,652 shares changing hands, Berger Paints ended 96 cents lower after exchanging 2,000 stock units to finish at $11.04, Caribbean Cement advanced to $44.99, with gains of $3.99 after trading 12,100 units. Eppley climbed $1.40 to $11.50, with 3,000 stock units changing hands, Grace Kennedy closed $3.49 lower at $53.50, in switching ownership of 21,969 shares, Jamaica Broilers gained 95 cents to end at $26.95, trading 34,708 units. Jamaica Producers picked up 46cents with an exchange of 1,364,504 stock units to close at $16.06, Jamaica Stock Exchange slid $1 to $19, with 13,976 shares passing through the market, JMMB Group declined by $2.80 to finish at $33, with 292,971 stock units crossing the exchange. Kingston Wharves fell $2 to $42 after 4,970 units changed hands, Mayberry Investments gained 30 cents to settle at $5.50 trading 1,260 shares, Mayberry Jamaican Equities lost 50 cents transferring 11,562 stock units to end at $6.
NCB Financial dropped $16 to a 52 weeks’ low of $140, after trading 2,289,514 units, 138 Student Living lost 30 cents to close at $4.11, with 36,389 shares crossing the exchange, Proven Investments slid to $37.48, after losing $1.02 with 21,006 stock units changing hands. Sagicor Group shed $3 after exchanging 186,808 units and closed at $40, Scotia Group fell by $2.01 to close at a 52 weeks’ low of $37.99, in trading 138,446 shares, Seprod ended at $35, with a loss of $2 in swapping 94,065 units. Stanley Motta closed 30 cents higher with a transfer of 11,000 stock units $5.30, Supreme Investments ended at $14, after a loss of $1 and trading 206,576 shares. Sygnus Credit Investments lost 55 cents to close at $17, in transferring 202,528 stock units, Victoria Mutual Investments slipped to $6.30 after losing 39 cents with 176,895 units changing hands and Wisynco Group closed at $13.49, with gains of 99 cents after exchanging 493,269 shares.
Trading in the US dollar market ended with 2,713,918 units for $94,890. The market declined by 15.09 points to close at 184.86. First Rock Capital lost 0.6 of a cent to close at 8.4 US cents, with an exchange of 8,880 units, JMMB Group 6% preference share lost 1 cent to close at US$1, with 479 stock units changing hands, Margaritaville traded 100 shares at 24 US cents. Proven Investments shed 1.5 cents in swapping 332,924 units and closed at 23.5 US cents, Sterling Investments lost half of a cent in trading 32,300 stock units and closed at 2 US cents. Sygnus Credit Investments traded 6,264 units 12 US cents and Trans Jamaican Highway shed .001 of a cent in transferring 2,332,971 shares to end the day at 0.9 of a US cent.
Prices of securities trading are those for the day’s last transaction unless otherwise stated.
The market closed with 45 securities changing hands in the Main and US dollar markets with prices of 17 stocks advancing, 17 declining and 11 securities trading firm. The JSE Main Market activity ended with 41 securities accounting for 26,276,614 units valued at $347,146,174, in contrast to 36,332,153 units valued at $175,354,038 from 42 securities on Friday.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ending with bids higher than their last selling prices and six stocks closing with lower offers. The PE ratio of the market ended at 14.5, while the Main Market ended at 13.3 times 2019 earnings.
Salada Foods shed $1 to $25, with 9,100 units changing hands, Stanley Motta ended 79 cents higher with 57,275 shares changing hands and settled at $5. Sterling Investments gained 28 cents to close at $2.50 swapping 58,805 stock units. Supreme Investments ended at $15, with gains of 50 cents trading 51,500 units, Sygnus Credit Investments shed 45 cents to close at $17.55, in transferring 136,312 shares. Victoria Mutual Investments lost 31 cents with 335,283 shares crossing the exchange and closed at $6.69 and Wisynco Group lost $2.20 in closing at $12.50, after exchanging 576,137 shares.
At the close, the JSE All Jamaican Composite Index plunged by 8,884.77 points to 403,150.10. The JSE Market Index dropped 8,035.44 points to 367,554.61, off 28 percent for 2020 so far and the JSE Financial Index fell by 2.27 points to 102.61 with a fall of 25.4 percent for the year to date.
Wigton Windfarm led trading with 17 million shares for 46.7 percent of total volume followed by Sagicor Select Financial Fund with 7.2 million units for 19.7 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund with 4.3 million units for 12 percent market share. Other stocks trading more than one million units were QWI Investments with 2.2 million units and Sagicor Group, with 1.01 million shares.
Mayberry Jamaican Equities closed 50 cents higher at $6.50 with an exchange of 145,394 units, NCB Financial climbed $4.99 to $150, in transferring 212,384 units. Portland JSX settled at $7.80, with a loss of $1.10 trading 35,000 stock units, Proven Investments slid to $37, after falling by $2.79 with 8,819 shares crossing the exchange, Sagicor Group dropped $3.10 in swapping 1,012,113 units and closed at $49 after trading down to $43. Sagicor Real Estate Fund shed 99 cents trading 1,100 units to end at $7, Scotia Group dived by $6 to close at $40, with 340,790 shares changing hands, Seprod ended $2.50 higher with a transfer of 191,047 and settled at $37. Victoria Mutual Investments gained 67 cents trading 404,688 shares and closed at $7 and Wisynco Group closed at $14.70 after gaining 70 cents in swapping 540,430 shares.
Wigton Windfarm led trading with 5.7 million shares for 25.6 percent of total volume followed by Sagicor Select Financial Fund with 2.3 million units for 10.4 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund with 2.3 million units for 10.3 percent market share. Barita Investments with 1.79 million shares and Jamaica Broilers, with 1.8 million shares, was the only other stock trading more than one million units.
JMMB Group closed $1.39 lower to $35.61, in trading 466,367 shares, Kingston Wharves slid $1.60 to $42, in swapping 624,349 units, PanJam Investment climbed $1 to $80 with an exchange of 564,828 shares, Portland JSX advanced by $1.10 to $8.90 after transferring 31,000 units, Sagicor Group climbed $6.10 to settle at $52.10, trading 537,957 stock units. Sagicor Real Estate Fund closed at $7.99, with a gain of $1.49 with 4,798 units crossing the exchange, Salada Foods picked up $ 1 swapping 229 units and closed at $26, Seprod shed 50 cents trading 60,448 to end the day’s trade at $34.50. Sterling Investments closed 40 cents lower to $2.20, with 301,662 shares changing hands, Supreme Ventures rose 60 cents to $14.50, with a transfer of 874,523 shares, Victoria Mutual Investments shed 67 cents and ended at $6.33, trading 237,971 shares and Wisynco Group declined by $2.70 to $14, with 347,564 units crossing the exchange.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows thirteen stocks ending with bids higher than their last selling prices and five stocks closing with lower offers. The PE ratio of the market ended at 15.3, while the Main Market ended at 14.3 times the 2019 earnings.
Scotia Group shed $1.18 to settle at $46.82, in swapping 81,985 stock units, Seprod lost 50 cents trading 42,597 units and closed at $40.50, Supreme Ventures ended at $16, with a loss of $1.82 transferring 459,765 shares. Sygnus Credit Investments lost 75 cents to end at $17.25, in swapping 49,449 shares and Wisynco Group declined by 38 cents to $16.62, after 277,802 shares changed hands.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and three securities closing with lower offers. The PE ratio of the market ended at 16.2, while the Main Market ended at 15.3 times the 2019 earnings.
Scotia Group dropped $2.40 to end at $51, after swapping 26,251 stock units, Seprod shed $2.05 trading 33,609 shares and closed at $41.95, Supreme Ventures closed at a 52 weeks’ low of $19, with a loss of 30 cents exchanging 77,295 shares. Sygnus Credit Investments closed at $18, after falling 91 cents with 187,246 units crossing the market, Victoria Mutual Investments closed 36 cents higher to $7.20, with 363,279 shares changing hands and Wisynco Group lost $1.50 to end at $16 after trading 1,072,786 stock units.
In the Main Market, Barita Investments gained 80 cents trading 59,211 shares and closed at $62.30, Berger Paints added $1 to end at $13, in transferring 1,800 units, Caribbean Cement shed $2.99 to settle at $55.01, in exchanging 66,781 shares, Eppley closed at $13.50, after losing $2.50 swapping 2,654 units. Eppley Caribbean Property Fund ended $2.30 lower to $37.70, with 45,951 shares changing hands, First Rock Capital added 41 cents to finish at $12, in transferring 41,882 shares, Jamaica Stock Exchange fell to $23.05, with a loss of 94 cents in exchanging 108,430 shares. Kingston Properties gained 34 cents trading 6,026,693 units and closed at $5.84, Mayberry Jamaican Equities lost 30 cents to close at $9.60, with 2,500 units changing hands, MPC Caribbean Clean Energy advanced $2.98 to $149.98, in trading 300 units. PanJam Investment ended the day at $87.80, with a loss of $1.20 after transferring 63,172 shares, Portland JSX Fund ended $1.50 higher to settle at $9, in swapping 5,408 units, Proven Investments gained $1 to finish at $39.50, after trading 18,556 stock units. Pulse Investments lost 60 cents to close at $9.40, with an exchange of 75,638 shares, Sagicor Group dropped $3 to end at $57, in transferring 209,650 shares. 
Scotia Group added $1.40 to end at $53.40, after swapping 1,495 units, Seprod gained $1 trading 493,572 stock units and closed at $44, Stanley Motta closed 35 cents higher to $5.20, with an exchange of 88,500 units, Supreme Ventures closed at $19.30, after losing $1.70 transferring 364,466 shares. Sygnus Credit Investments closed at $18.91, with a loss of $2.04 swapping 110,256 stock units, Victoria Mutual Investments ended 84 cents higher to settle at $6.84, with 446,117 shares changing hands and Wisynco Group gained 50 cents to end trading 501,131 shares at $17.50.
The market closed with 47 securities changing hands in the Main and US dollar markets with the prices of 13 stocks advancing, 27 declining and seven securities trading firm. The JSE Main Market activity ended with 43 securities accounting for 28,292,088 units valued at $246,450,479 in contrast to 28,587,236 units valued at $124,299,870 from 41 securities on Friday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows seven stocks ending with bids higher than their last selling prices and four stocks closing with lower offers. The PE ratio of the market ended at 16.7, while the Main Market ended at 15.9 times the 2019 earnings.
Sagicor Real Estate Fund closed 93 cents lower at $8.80, with an exchange of 9,592,783 shares, Salada Foods settled at $29, with gains of 50 cents trading 1,857 units, Scotia Group climbed $2 to $52, in transferring 523,149 shares. Seprod gained $1 exchanging 63,730 shares to end at $43, Supreme Ventures rose $1.30 and closed at $21, after trading 40,678 stock units, Sygnus Credit Investments closed at $20.95, with gains of $2.80 swapping 72,927 units. Victoria Mutual Investments ended 80 cents lower to settle at $6, with 987,897 shares changing hands and Wisynco Group dropped $1.10 to $17 in transferring 493,670 stock units.
The Market closed with an average of 697,250 units at $3,031,705 for each security traded, in contrast to 1,393,670 units valued at an average of $6,983,180 on Thursday. The average volume and value for the month to date amount to 734,052 units valued at $4,928,837 for each security changing hands compared to 924,613 units valued at $5,408,975 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
Sagicor Group lost 50 cents, ending the day at $60.60, with 188,479 stock units traded, Salada Foods closed with a loss of 50 cents at $28.50 in swapping 535 units. Scotia Group ended at $50, after losing 50 cents in transferring 112,800 stock units, after it traded down to an intraday 52 weeks’ low of $40. Seprod declined by $3 exchanging 69,800 shares to close at $42, Supreme Ventures lost 30 cents to end at a 52 weeks’ low of $19.70, with an exchange of 211,976 units, Sygnus Credit Investments lost $2.35 to close at $18.15 while transferring 455,294 shares. Victoria Mutual Investments shed 70 cents to end at $6.80, in trading 382,192 stock units and Wisynco Group closed $1.90 lower to $18.10 in exchanging 439,672 shares.
At the close, the JSE All Jamaican Composite Index plunged 14,424.69 points to close at 511,165.47. The previous biggest fall in the JSE Composite index was 12,616.74 points on October 18, 2018. The JSE Market Index nose-dived 13,201.50 points to 465,317.12 and the JSE Financial Index dropped 3.55 points to 125.59.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and five closing with lower offers. The PE ratio of the market ended at 18.1, while the Main Market ended at 17.4 times the 2019 earnings.
Scotia Group ended at $54.01, after losing 49 cents and transferring 92,235 shares, Sterling Investments ended at $3, with a loss of 60 cents as 71,000 shares crossed the exchange. Supreme Ventures climbed $1.35 to settle at $22.35, in swapping 153,799 shares, Sygnus Credit Investments lost 50 cents to finish at $24.50, after trading 30,562 units and Victoria Mutual Investments gained 45 cents to end the day’s trade a $8.50, with 188,051 shares changing hands.