Trading jumps, prices drop on JSE Main Market

Trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 116 percent and the value 190 percent more than on Tuesday, following trading in 52 securities compared with 56 on Tuesday and ended with declining stocks outpacing those rising and finished with 15 rising, 25 falling and 12 ending unchanged.
A total of 27,243,669 shares were traded for $116,951,925 compared to 12,623,404 units at $40,299,945 on Tuesday.
Trading averaged 523,917 shares at $2,249,075, up from 225,418 shares at $719,642 on Tuesday and month to date, an average of 454,491 units at $2,040,439, compared to 447,521 units at $2,019,495 on the previous day. July closed with an average of 283,368 units at $2,135,482.
Sterling Investments led trading with 13.34 million shares for 49 percent of the total volume, followed by Stanley Motta with 6.13 million units for 22.5 percent of trading, Wigton Windfarm ended with 2.99 million units for 11 percent market share, Sagicor Select Financial Fund filled in with 1.62 million units for 6 percent shares traded and Transjamaican Highway with 1.22 million units for 4.5 percent of total volume.
The All Jamaican Composite Index advanced 228.12 points to end at 354,065.17, the JSE Main Index dipped 192.39 points to 321,213.41 and the JSE Financial Index shed 0.33 points to 70.52.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and eight with lower offers.
At the close, Barita Investments fell 80 cents to close at $74 with 48,522 shares clearing the market, Caribbean Cement gained $1.39 in closing at $51.50 after an exchange of 6,854 stocks, GraceKennedy shed 30 cents to $77 in trading 72,944 units, Guardian Holdings declined $1.75 and ended at $438 with an exchange of 5 stock units. Jamaica Producers popped 90 cents to end at $20.10, with 3,730 shares crossing the market, JMMB Group dropped 76 cents and ended at $27.15, with shareholders swapping 3,587 stocks, Kingston Wharves dipped 40 cents in closing at $28.50, with 314 stock units changing hands. Massy Holdings rallied 75 cents to end at $101, with investors transferring 45,101 units, Mayberry Investments climbed 53 cents to $8.65, with 878 shares crossing the exchange, NCB Financial rose 75 cents to $71.75 after investors traded 23,986 stock units. 138 Student Living lost 39 cents and ended at $4.25 after a transfer of 282 units, Pan Jamaica traded 8,554 shares and rose 9 cents to close at $47.29, but only after hitting an intraday 52 weeks’ low of $40.01, Proven Investments lost 50 cents to close at $22.50 with a transfer of 190 stocks. Pulse Investments shed 71 cents to end at $2.11 while exchanging 24,170 units, Radio Jamaica gained 1 cent to close at $1.54 after hitting an intraday low of $1.40 in trading 101,142 shares, Seprod dipped 92 cents to close at $69 with stakeholders trading 7,423 stocks. Stanley Motta advanced 31 cents to $5 in an exchange of 6,134,145 shares. Sygnus Credit Investments increased 58 cents to end at $12.05 in switching ownership of 10,712 stock units and Wisynco Group climbed 85 cents to $17.75 in an exchange of 80,898 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.