Trading climbs market drops

Trading picked up sharply on the Jamaica Stock Exchange Main Market on Thursday, but that was insufficient to prevent a fall in the market after the volume of stocks traded jumped 183 percent and the value surged 357 percent over trading on Wednesday, after 52 securities were traded down from 56 on Wednesday, leading to prices of 19 rising, 22 declining and 11 ending unchanged.
A total of 12,082,376 shares were exchanged for $88,446,679 up from 4,265,895 units at $19,430,399 on Wednesday.
Trading on Thursday averaged 232,353 units at $1,700,898, up from 76,177 shares at $345,971 on Wednesday and month to date, an average of 194,550 units at $1,216,524 versus 189,470 units at $1,151,441 on the previous day. October closed with an average of 231,243 units at $1,464,224.
Wigton Windfarm led trading with 3.36 million shares for 27.8 percent of total volume followed by Pulse Investments with 2.46 million units for 20.3 percent of the day’s trade, Transjamaican Highway with 1.93 million units for 16 percent of the market and JMMB Group 7.35% – 2028 with 1.13 million units for 9.4 percent market share.
The All Jamaican Composite Index fell 2,281.94 points to 392,649.24, the JSE Main Index lost 3,773.19 points to close at 343,916.81 and the JSE Financial Index dropped 0.55 points to settle at 82.93.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.3 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Eppley Caribbean Property Fund gained $2.95 in closing at $40 after an exchange of 2,445 shares, First Rock Real Estate fell $1.41 to $13 after exchanging 10,849 units, GraceKennedy rallied 50 cents to close at $86.50 after the trading of 14,897 stock units. Kingston Properties dropped 43 cents to end at $6.56 with a transfer of 293,304 stocks, Kingston Wharves declined 70 cents to $36.30 in an exchange of 100 units, Massy Holdings lost $1 to end at $80 as investors traded 841 stocks. Mayberry Jamaican Equities rose 96 cents in closing at $13.96, with 51,611 stock units crossing the market, PanJam Investment climbed 50 cents to close at $53.50 in trading 519 shares, Proven Investments shed $2.27 to $28.73 with the swapping of 1,968 units. Seprod dipped 50 cents after ending at $67.50 in switching ownership of 2,467 shares and Supreme Ventures increased $2.45 to $28.95 after trading 272,233 stock units.
In the preference segment, Eppley 7.50% preference share popped 72 cents to $7.87, with 2,159 stocks crossing the market, Jamaica Public Service 9.5% advanced $100 to close at $3100 after an exchange of just one stock and 138 Student Living s preference share dipped $15 to $45 with an exchange of 105 stock units.
Prices of securities trading are those for the last transaction of each stock unless other