Trading drops & prices fall on Main Market

Trading slipped on the Jamaica Stock Exchange Main Market ended on Friday and pulled the Market indices with it after a 95 percent drop in the volume of stocks traded and an 87 percent fall in value compared with that on Thursday, with trading in 55 securities compared with 61 on Thursday and resulted in prices of 18 stocks rising, 23 declining and 14 ending unchanged.
The market closed with an exchange of 25,126,154 shares for $233,060,092, well down from 551,681,523 units at $1,798,734,217 on Thursday.
Trading averaged 456,839 shares at $4,237,456 compared to 9,043,959 units at $29,487,446 on Thursday and month to date, an average of 2,585,174 units at $9,516,984 compared with 3,224,837 units at $11,103,727 on the previous day and March that closed with an average of 828,473 units at $2,341,254.
Carreras led trading with 10.79 million shares for 43 percent of total volume followed by Wigton Windfarm with 5.19 million units for 20.7 percent of the day’s trade, JMMB 9.5% preference share chipped in with 3.01 million units for 12 percent market share, as JMMB Group 7.25% preference share due 2024 ended with 1.66 million units for 6.6 percent total shares traded and GraceKennedy with 1.31 million units for 5.2 percent of the overall volume.
The All Jamaican Composite Index slipped 2,067.87 points to conclude trading at 365,157.55, the JSE Main Index skidded 1,505.24 points to wrap up trading at 326,418.42 and the JSE Financial Index rallied 0.09 points to 70.49.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden gained $3.25 in closing at $39 with an exchange of 314 stock units, Barita Investments lost 63 cents to end at $70, with 8,596 shares crossing the market, Eppley shed $2.49 to end at $37 with a transfer of 302 units. Eppley Caribbean Property Fund rose $2.49 to close at $40 after investors ended trading just two stocks, Jamaica Broilers rallied $1.09 and ended at $33.99 in an exchange of 5,449 shares, Jamaica Producers fell $2.52 to finish at $21.78 with 31,288 stock units clearing the market. Key Insurance dipped 35 cents and ended at $2.22 in trading 552 stocks, Kingston Wharves sank 75 cents to $29.25, with 3,427 units crossing the market, Mayberry Group increased 45 cents to close at $7.37 in an exchange of 1,721 shares. NCB Financial skidded 50 cents to end at $64.50 with investors transferring 3,769 units, Scotia Group climbed 35 cents in closing at $47.05 in switching ownership of 193,476 stocks, Seprod shed $4.59 to finish at $78.81 and closed with an exchange of 2,012 stock units. Stanley Motta declined $1.07 to $6.03 after 3,605 shares passed through the market, Supreme Ventures popped 30 cents to finish at $23.80 after an exchange of 28,854 stock units and Wisynco Group dropped 51 cents and ended at $20.51 with investors trading 261,544 stocks.
In the preference segment, Jamaica Public Service 7% advanced $5 to end at $48 with 15 units crossing the exchange and Productive Business Solutions 9.75% preference share fell $9.92 in closing at $95.08 with traders dealing in 920 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.