Trading jumps stocks fall

Market activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 36 percent with a 289 percent greater value than on Tuesday and ended with declining stocks exceeding those rising by a two to one margin.
Trading ended with 55 securities, the same as Tuesday, with 14 rising, 27 declining and 14 ending unchanged. The All Jamaican Composite Index shed 2,917.62 points to 414,850.94, the Main Index fell 847.36 points to 365,868.63 and the JSE Financial Index slipped 0.20 points to 87.71.
Investors were more aggressive on Wednesday, trading 8,329,845 shares for $195,931,637 up from 6,129,079 units at $50,321,427 on Tuesday. Trading averaged 151,452 units at $3,562,393, versus 111,438 shares at $914,935 on Tuesday and month to date, an average of 159,696 units at $1,335,443, compared to 160,435 units at $1,135,635 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Transjamaican Highway led trading with 1.32 million shares for 15.9 percent of total volume, followed by Sagicor Select Financial Fund with 1.25 million units for 15 percent of the day’s trade, PanJam Investment with 1.15 million units for 13.8 percent market share and Sagicor Group ended with 1.04 million units for 12.4 percent of stocks trading.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling price and five with lower offers.
At the close, Caribbean Cement increased $1 to $60 with the swapping of 4,491 shares, Eppley rose $1.05 to $41 trading 770 stocks, Eppley Caribbean Property Fund climbed $6.45 to $44.85 in switching ownership of 4,000 stock units. GraceKennedy dropped $2.50 in closing at $95.50 in trading 326,540 units, Guardian Holdings gained $28.90 to close at $550, with seven stock units crossing the market, JMMB Group shed 75 cents to close at $41.25 as investors exchanged 330,814 shares. Margaritaville lost 44 cents in ending at $29.50 after trading 85 stocks, Massy Holdings dipped $2 to $85 with a transfer of 760 units, Mayberry Investments rallied $2.42 in closing at $9.93 in an exchange of 49,286 shares. MPC Caribbean Clean Energy fell $6.05 to end at $65.78 after a transfer of 266 units, NCB Financial declined $1 to end at $94, with 26,489 crossing the exchange, Palace Amusement fell $3.37 to close at a 52 weeks’ low of $750 with 38 stock units clearing the market. PanJam Investment advanced $1.95 in closing at $62 after exchanging 1,145,510 stocks, Portland JSX popped $1.45 to $10.80 with an exchange of 1,155 shares, Proven Investments fell 50 cents to $32 after exchanging 3,023 units. Sagicor Group shed $2.50 in closing at $52 with 1,036,762 stock units changing hands, Scotia Group dipped $1.05 to $34 after exchanging 70,141 units, Seprod lost 94 cents to end at $69.05, with 9,590 stock units crossing the market. Supreme Ventures increased 43 cents to $28.98 with investors transferring 101,987 stocks and Sygnus Real Estate Finance dropped 64 cents to close at $10.30 while trading 2,606 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.