Trading jumps on JSE Main Market, prices fall

Market activity jumped on the Jamaica Stock Exchange Main Market on Tuesday, but that could not save the market from sinking at the close with the volume of stocks traded rising 58 percent with the value jumping 261 percent higher than Monday, after 56 securities traded similar to Monday, and resulting in prices of 18 rising, 22 declining and 16 ending unchanged.
A total of 13,347,493 shares were exchanged for $482,583,082 up from 8,448,292 units at $133,833,060 on Monday. Trading averages 238,348 units at $8,617,555, versus 150,862 shares at $2,389,876 on Monday and month to date, an average of 208,945 units at $2,855,006 compared to 206,642 units at $2,403,674 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Wigton Windfarm led trading with 2.99 million shares for 22.4 percent of total volume followed by Barita Investments with 2.56 million units for 19.2 percent of the day’s trade, Transjamaican Highway with 1.93 million units for 14.5 percent market share, Massy Holdings with 1.70 million units for 12.8 percent of the market and PanJam Investment ended with 1.05 million units for 7.8 percent of trading.
The All Jamaican Composite Index dropped 4,194.74 points to 405,094.01 the JSE Main Index dived 5,837.99 points to 353,391.05 and the JSE Financial Index slipped 1.02 points to 85.54.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.1 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 nine stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Barita Investments advanced 67 cents to $87.65 and closed with 2,563,691 shares being traded, Berger Paints shed $1.02 in closing at $10.30 while exchanging 1,044 stock units, Caribbean Producers lost 44 cents after ending at $13.23, with 16,741 stocks changing hands. Carreras dropped 52 cents to $8.48 after 44,622 units crossed the market, Eppley Caribbean Property Fund fell $3 to close at $39, with an exchange of 12,993 units, Jamaica Producers popped 46 cents to end at $20.96 in trading 7,127 shares. Kingston Wharves declined $2.50 to $35 after 37,915 stocks crossed the exchange, Massy Holdings climbed $2.95 to $89.95 after trading 1,703,213 stock units, MPC Caribbean Clean Energy dipped $16 to close at $68, with 44 stock units clearing the market. Palace Amusement increased $5 in closing at $850 after exchanging 91 units, PanJam Investment declined $1 to $58 with the swapping of 1,045,185 shares, Sagicor Group dropped $1.30 to end at $51 in exchanging 173,099 stocks. Seprod shed $7.50 to $62 with a transfer of 28,262 shares and Supreme Ventures lost 50 cents in closing at $29 after exchanging 45,951 stock units.
In the preference segment, Eppley 7.50% preference share fell $1.18 to $6.66 after a transfer of 323 stocks. Eppley 7.75% preference share gained $1 to close at $21 in an exchange of 59 units, 138 Student Living s preference share dipped $11.21 to $63.54 as investors exchanged 600 stock units and Productive Business Solutions 9.75% preference share dipped 50 cents in closing at $149.50 with investors transferring 130 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.