Trading jumps 72% on JSE USD market

The US dollar market of the Jamaica Stock Exchange closed trading on Thursday, with stocks rising after investors traded 72 percent more shares than on Wednesday, resulting in more security rising than falling.
At the close of the market, trading ended with six securities changing hands compared to three on Wednesday and concluded with the prices of four stocks rising, one declining and one remaining unchanged.
The JSE USD Equities Index gained 4.9 points to settle at 186.07, with the average PE Ratio ending at 12.9 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 1,071,941 shares, accounting for US$250,003 compared to 624,714 units at US$41,209 on Wednesday. The average trade for the day amounted to 178,657 units changing hands at US$41,667, in contrast to an average of 208,238 shares at US$13,736 on Wednesday. Trading ended with an average of 85,640 units for the month to date at US$7,270 in contrast to 78,996 units at US$4,813 previously. By comparison, July ended with an average of 133,150 units for US$18,282.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, First Rock Capital Investment gained half a cent to close at 9 US cents after trading 36,962 shares, Proven Investments climbed 0.79 of a cent in closing at 24.8 US cents with 1,024,551 stocks changing hands. Sygnus Credit Investments climbed half of a US cent to close at 13.5 US cents with 200 shares traded and Transjamaican Highway rose 0.09 of a cent to settle at nine-tenths of a US cent with 10,000 stocks crossing the exchange.
In the preference share segment of the USD market, Equityline Mortgage Investment preference share fell one cent to finish at US$1.96 in an exchange of 200 shares and JMMB Group 6% ended at US$1 with investors switching ownership of just 28 stock units.