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.
Trading on the Junior Market of the Jamaica Stock Exchange ended on Tuesday with the market Index diving 52.80 points to close at 2,100.86, down 37 percent for the year as 33 securities changed hands, with prices of nine securities rising, 15 falling and nine remaining unchanged.
Caribbean Cream exchanged 20,000 stock units and gained 1 cent to end at $2.11, Caribbean Flavours fell 50 cents in trading of 600 units at a 52 weeks’ low of $10. Caribbean Producers declined 10 cents to settle at $3, with 10,000 shares changing hands, Dolphin Cove traded 14,156 shares and fell 50 cents to close $6.50, Elite Diagnostic dropped 39 cents in trading of 95,816 units at a 52 weeks’ low of $2.71. Fosrich ended market activity in exchanging 63,565 shares to close at $2.50 after falling 45 cents, Fontana shed 20 cents in trading of 385,577 units at $4, General Accident dropped 90 cents to settle at $4.10 after exchanging 181,000 stock units and trading at an intraday 52 weeks’ low of $3.89. Indies Pharma closed 5 cents higher at $1.55, with 28,655 stock units trading, Jamaican Teas lost 30 cents in trading 105,774 shares to close at $3.70, Jetcon Corporation dipped 10 cents with 205,925 units changing hands at $1, Knutsford Express declined 25 cents in trading of 79 units at a 52 weeks’ low of $7. KLE Group shed 40 cents in trading of 957 units at a 52 weeks’ low of $1.20, Lasco Distributors closed 32 cents higher at $2.92, with 25,111 stock units changing hands, 
Lasco Financial closed 29 cents higher at $2.85, with 24,070 stock units trading. Lasco Manufacturing exchanged 39,019 units and gained 64 cents to end at $3.50, Limners and Bards rose 18 cents to end at $1.88 and closed with 137,535 units crossing the exchange, Lumber Depot closed with a loss of 21 cents at 52 weeks’ low of $1.04, swapping of 356,449 shares. MailPac closed trading of 92,679 units and gained 8 cents to end at $1.39. Medical Disposables declined by 50 cents to settle at $5.70, after exchanging 60,381 stock units, Paramount Trading lost 10 cents in trading 34,500 shares to close at 1.90 cents, Stationery and Office Supplies traded 12,974 shares and gained 50 cents to end at $6.50 and tTech declined 20 cents in trading of 1,000,620 units at a 52 weeks’ low of $3.50.
Massy Holdings declined by $1 to close at $57, with 199 stock units changing hands, Point Lisas lost 25 cents in trading 2,500 stock units to finish at $3.45. Republic Financial Holdings dropped $8, after transferring 12,000 units to finish at $136, Trinidad Cement ended at $1.75, after falling 20 cents exchanging 2,464 stock units and West Indian Tobacco lost 1 cent to close at $34.99, with 75,200 stock units crossing the market.
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.
Market activities resulted in an exchange of 3,024,296 units valued at just $6,277,143 compared to 3,640,594 units valued at $10,061,535 on Friday. The average market PE ratio ended at ten times, 2019 earnings.
Cargo Handlers fell 40 cents trading 842 stock units to close at $5.10, Caribbean Assurance declined 1 cent to end at $1.94 with 188,778 units traded, Caribbean Cream closed with a loss of 65 cents at a 52 weeks’ low of $2.10 in the swapping of 100,000 shares. Caribbean Producers dropped 15 cents to settle at $3.10 as 11,008 units changed hands, Consolidated Bakeries ended 4 cents higher at $1.30 with 54,386 stock units crossing the exchange, Elite Diagnostic dropped 40 cents in trading of 93,115 units at $3.10. Express Catering finished with a loss of 60 cents at $3.20 with an exchange of 66,107 shares, Fontana ended trading with 230,426 units, after rising 20 cents to end at $4.20, Fosrich closed trading of 115,510 units and gained 55 cents to end at $2.95. General Accident closed 13 cents higher at $5, with 3,101 stock units trading, GWest Corporation declined 9 cents in trading of 106,669 units at 70 cents, iCreate closed with a loss of 2 cents at 45 cents after swapping 435,204 shares. Indies Pharma lost 45 cents in trading 117,958 shares to settle at a 52 weeks’ low of $1.50, Jamaican Teas closed with a loss of 15 cents at $4 swapping 37,073 shares, Jetcon Corporation ended market activity exchanging 10,100 shares to close at $1.10 after slipping 2 cents. Knutsford Express fell 25 cents to $7.25 with 1,300 shares traded, Lasco Distributors concluded trading of 9,994 units and gained 20 cents to finish at $2.60, Lasco Financial closed 6 cents higher at $2.56 with 78,306 units traded. 
Lasco Manufacturing rose 4 cents after exchanging 136,184 shares at $2.86, Limners and Bards ended trading with 42,154 shares, after rising 10 cents to close at $1.70, Lumber Depot exchanging 429,151 shares and lost 3 cents to close at $1.25. MailPac fell 9 cents to $1.31 with 478,451 units traded, Main Event declined by 39 cents to settle at $3.81 with 8,332 shares changing hands, Medical Disposables closed trading of 1,889 units and gained 50 cents to end at $6.20. Paramount Trading gained 30 cents and exchanged 4,956 units to end at $2, SSL Venture closed at $1 after falling 10 cents and swapping 10,543 shares and tTech declined by 55 cents to $3.70 with 1,660 stock units crossing the exchange.
At the close, NCB Financial is set to suffer a significant fall, with the stock closing with the offer to sell 133,050 units at $9 compared to the last sale price of $10 or nearly JS$200. There were no bids placed to buy the stock at the close.
JMMB Group closed at $1.90, after falling 10 cents in exchanging 160,383 units, Massy Holdings shed $1 to end at $58, with 2,330 stock units changing hands, National Enterprise lost 25 cents trading 500 stock units to finish at a 52 weeks’ low of $5. National Flour slipped to a 52 weeks’ low of a $1.20, after falling 2 cents and transferring 1,950 units, One Caribbean Media traded 300 stock units at a 52 weeks’ low of $7, with a decline of 15 cents. Prestige Holdings declined by 50 cents to end at $8, transferring 2,941 units. Scotiabank fell by $1.50 to end at $58 trading 11,246 stock units and West Indian Tobacco declined by $1.50 to close at $35, with 29,510 stock units crossing the market.
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.
Trading ended with 33 securities changing hands, with 11 stocks advancing, 15 declining and the prices of seven companies holding firm, resulting in an exchange of 3,640,594 units valued at $10,061,535 compared to 3,923,029 units valued at $10,812,457 on Thursday. The average PE ratio 
At the close of the market, AMG Packaging shed 19 cents in swapping 4,283 units at $1.71, Blue Power picked up 70 cents to end at $3.70 with a mere 226 shares changing hands, CAC 2000 fell 30 cents to $12.50 in trading 12,200 shares. Caribbean Assurance Brokers lost 6 cents in transferring 51,369 shares and closed at $1.95, Caribbean Cream finished at a 52 weeks’ low of $2.75, after falling 6 cents in exchanging 63,966 stock units, Caribbean Producers climbed 75 cents to $3.25 after trading 35,200 units. Derrimon Trading lost 1 cent in swapping 231,500 shares to close at $1.47, Dolphin Cove lost 50 cents to end at a 52 weeks’ low of $6.50, with 14,156 stock units changing hands, Everything Fresh traded 105,000 shares at a 52 weeks’ low of 62 cents after losing 3 cents. Express Catering gained 40 cents in transferring 58,890 shares at $3.80, General Accident traded 5,550 shares at $4.87, with a loss of 22 cents, GWest Corporation shed 6 cents exchanging of 103,759 units at 79 cents. Honey Bun ended 75 cents higher at $5.70 with 13,258 stock units changing hands, Indies Pharma gained 2 cents in trading 16,063 units at $1.95, Iron Rock rose to $2.30, with gains of 30 cents after swapping 100 units. 
Jamaican Teas shed 83 cents with 7,110 shares crossing the exchange at $4.15, Knutsford Express closed 50 cents lower in the swapping of 2,011 shares to close at a 52 weeks’ low of $7.50 and Lasco Distributors added 20 cents trading 28,700 stock units to finish at $2.40. Lasco Financial gained 10 cents in transferring 213,281 units at $2.50, Lasco Manufacturing ended at $2.82 after a loss of 18 cents with 120,693 stock units changed hands, Limners and Bards shed 25 cents in trading of 74,316 shares to end at $1.60. Lumber Depot closed at $1.28 with gains of 7 cents in swapping 192,203 shares, Main Event exchanged 51,669 shares to close at $4.20 after gaining 40 cents, Medical Disposables lost 30 cents in transferring 24,798 units at $5.70. Paramount Trading closed 11 cents lower at $1.70 as 238,829 shares and SSL Venture gained 10 cents with just 500 shares trading at $1.10.
Republic Financial declined by $1.43 to $144 with a transfer of 10,596 units and West Indian Tobacco fell by 25 cents to end at $36.50 trading 165 stock units.
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.
