Trading plunged lower on Thursday

Market activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded declining 46 percent with a 55 percent lower value than on Wednesday as 53 securities traded compared to 57 on Wednesday, with prices of 18 rising, 24 declining and 11 ending unchanged.
Only 3,472,392 shares valued $25,553,670 were traded on Thursday versus 6,419,042 units at $56,245,124 on Wednesday. Trading averaged 65,517 units at $482,145 down from 112,615 shares at $986,757 Wednesday and month to date, an average of 180,275 units at $1,238,398, compared to 195,870 units at $1,341,170 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Wigton Windfarm led trading with 1.45 million shares for 41.9 percent of total volume,  Transjamaican Highway followed with 671,018 units for 19.3 percent of the day’s trade and Carreras ended with 411,929 units for 11.9 percent of market share.
The All Jamaican Composite Index rose 1,075.26 points to 417,929.17, the Main Index shed 225.41 points to 366,974.17 and the JSE Financial Index slipped 0.15 points to settle at 87.75.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 for the Main Market. The SE Main and USD Market PE ratios are computed based on ICInsider.com’s earnings forecast for companies with financial years ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement climbed 93 cents to $59.63 after the price hit an intraday 52 weeks’ low of $55.12 in trading 6,256 shares, Eppley fell $2.35 in closing at $38.65 while exchanging 111 stock units, First Rock Real Estate rallied 65 cents to end at $12.45 in trading one share. Guardian Holdings declined $78.12 to close at $505.03 in trading 50 units, JMMB Group increased $1.17 to $43.90, with 20,889 shares crossing the exchange, Massy Holdings gained 70 cents to end at $89.70 in an exchange of 1,848 stocks. NCB Financial dropped $3.25 to end at $93.50 in trading 23,044 stock units, PanJam Investment advanced 60 cents to close at $60.50, with 10,798 units changing hands, Proven Investments shed 49 cents in closing at $32.50 with 2,121 units clearing the market. Salada Foods rose 68 cents to $5.29 after exchanging 213 stocks, Scotia Group lost $1.64 to close at $34.75, with 19,803 stock units crossing the market, Victoria Mutual Investments dropped 52 cents in closing at $5.16 after trading 14,683 shares and Wisynco Group lost $1.20 to end at $16.68 as investors transferred 76,918 stock units.
In the preference segment, Eppley 7.50% preference share fell $1.03 to end at $6.60 in switching ownership of 287 stocks and Productive Business Solutions 9.75% preference share popped $18, ending at a record closing high of $127, with 3,813 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.