Trading drops for JSE Main Market

Declines in primary indices of the JSE Main Market continues at the close on Monday, with a greater fall than that suffered on Friday as trading volume and value fell sharply.
The market closed with 43 securities changing hands in the Main and US dollar markets, with the prices of 18 advancing, 12 declining and 13 stocks unchanged. The JSE Main Market activity ended, with 39 securities trading and accounting for 9,751,709 shares, valued $42,684,443 in contrast to 10,152,496 units for $85,998,804, from 41 securities on Friday.
At the close, JSE All Jamaican Composite Index dropped 2,825.82 points to close at 559,742.46. The JSE Market Index declined by 2,563.54 points to 509,831.86 and the JSE Financial Index lost 0.45 points to end at 137.93.
Sagicor Select – Financial Funds dominated trading, with 3.5 million shares and 35.5 percent of shares traded, followed by Wigton Windfarm with 2.54 million units for 26 percent of the day’s trade and QWI Investments rounded out the top three, with 993,376 shares for 10 percent of market share.
The market closed, with an average of 250,044 units valued at $1,094,473 for each security traded, in contrast to 247,622 units valued at an average of $2,097,532 on Friday. The average volume and value for the month, amounts to 518,678 shares at $2,134,204 for each security crossing the exchange, compared to 658,367 units for $2,674,864 trading to date for each stock changing hands. Trading in December, resulted in an average of 595,143 units for $9,344,514 for each security changing hands.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows twelve stocks ending, with bids higher than their last selling prices, with three closing, with a lower offer. The PE ratio of the market ended at 19.7, with the Main Market ending at 19.1 times the current year’s earnings.
At the close of trading in the prime market, Berger Paints dropped 60 cents in trading 506 units at $17.90, Caribbean Cement jumped $4.50 to end at $84.50 in exchanging 5,811 stock units, Eppley Caribbean Property Fund climbed $4.20 to end at $$44.20 with 8,060 shares changing hands. Grace Kennedy jumped $3 to close at $75, after trading 19,945 units, JMMB Group climbed $1 in trading 65,704 units to settle at $48. NCB Financial lost 50 cents to end at $199.50, after trading 20,234 stock units, PanJam Investment added $3.49 to end at $103, with 500 units crossing the exchange, Portland JSX gained $1.80 in exchanging 9,000 shares to close at $9. Proven Investments rose by 50 cents in trading 3,227 units to close at $46.50, Sagicor Group added $1.30 to close at $70 with 8,597 units crossing the exchange, Scotia Group fell $2 to close at $57 with an exchange of 23,956 stock units, Supreme exchanged 43,790 shares and gained 40 cents to close at $25.40 and Wisynco Group fell 85 cents to $23.10, with 37,212 shares changing hands.
Trading in the US dollar market closed with 30,050 units valued at over $7,229. The market index dropped by 5.59 points to close at 226.44. Margaritaville lost 2 cents to close at 34 US cents in exchanging 375 units, Proven Investments gained a fraction of a cent to end at 32 US cents in trading 5,440 units, Sterling Investments held firm at 3 US cents with 235 shares changing hands and Sygnus Credit Investments closed at 15 US cents in trading 14,000 units.