Trading drops sharply for JSE majors

The main market of the Jamaica Stock exchange closed down for a second consecutive day with big declines in the market indices on Thursday as trading volume contracted sharply, to a third of the levels in August with the value falling to just 13 percent.
At the close, the JSE All Jamaican Composite Index dived 3,064.72 points to close at 565,832.01. The JSE Index dropped 2,728.69 points to 514,927.20 and the JSE Financial Index lost 62 points to close at 141.28.
Trading ended with 35 securities changing hands in the main and US dollar markets with 8 advancing, 15 declining and 12 trading firm. Main market activity ended with 31 securities trading resulting in 17,528,310 units valued at $59,397,804 in contrast to 20,815,331 units valued at $96,905,471 on Wednesday.
Wigton Windfarm led trading with 7.5 million shares for 43 percent of total volume, followed by Sagicor Select Funds with 4 million units accounting for 23 percent of the day’s trade and newly listed, QWI Investments with 3.8 million shares for 22 percent of the market’s trade.
The Market closed with an average of 547,760 units valued $1,856,181 for each security traded, in contrast to 578,204 units for an average of $2,691,819 on Wednesday. The average volume and value for the month to date amounts to 1,108,042 shares at $2,903,957 for each security traded and previously 1,350,326 units valued at $3,357,049 for each stock traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 12 stocks ended with bids higher than their last selling prices and 5 with lower offers.
In main market activity, Barita lost 50 cents to close at $80 with 83,575 units traded, Carib Cement ended $3 lower at $77 with 9,157 shares changing hands, Eppley Caribbean Property gained $1 with an exchange of 5,480 shares to close at $36, Jamaica Broilers closed $1 higher in trading 31,441 shares and ending at $38. Jamaica Producers lost $1.49, to settle at $23.51 with an exchange of 9,544 shares, JMMB Group lost 55 cents to close at $45.40, after trading 28,070 shares, Kingston Wharves dropped $1.70 to $58.30 with 12,081 shares changing hands. NCB Financial gained $1 to settle at $210 with 41,841 units trading, Proven Investments lost 80 cents, to close at $40.20 with 4,358 units changing hands, Sagicor Group closed $2 lower to settle at $70 in trading 68,949 shares. Scotia Group lost 38 cents to end at $61.60 with 33,671 shares changing hands, Supreme Ventures ended at $24.70, after losing 35 cents trading 20,791 shares and Sygnus Credit Investments closed 84 cents lower at $23.01, with 46,885 shares traded.
Trading in the US dollar market ended with 9,804 units valued US$3,194 with the market index advancing 2.10 points to close at 200. Proven Investments exchanged 5,934 shares, gaining 0.9 US cent to close at 27 US cents, Sygnus Credit Investments traded 2,680 units and gained 1 cent to end at 15 US cents and JMMB Group 6% preference share traded 1,190 shares, to close at US$1.

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