Trading plunges on JSE main market

Market activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded declining 61 percent less and 66 percent lower than on Wednesday, with 50 securities trading compared to 52 on Wednesday, with 14 rising, 25 declining and 11 ending unchanged.
A total of 4,582,527 shares were exchanged for $56,809,986 down from 11,772,946 units at $169,332,476 on Wednesday. Trading averages 91,651 units at $1,136,200, versus 226,403 shares at $3,256,394 on Wednesday and month to date, an average of 217,620 units at $2,333,808, compared to 228,969 units at $2,441,701 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Sagicor Select Financial Fund led trading with 1.49 million shares for 32.5 percent of total volume followed by Wigton Windfarm with 743,657 units for 16.2 percent of the day’s trade and Transjamaican Highway with 659,221 units for 14.4 percent market share.
The All Jamaican Composite Index rose 157.40 points to 408,627.82, the JSE Main Index rallied 404.38 points to 359,942.49 and the JSE Financial Index shed 0.52 points to settle at 85.26.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.3 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 12 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments increased 40 cents to close at $86.40, with 139,885 shares crossing the market, Caribbean Cement popped 40 cents to $62.40 with investors transferring 9,997 stocks, Caribbean Producers advanced 50 cents in closing at $13.70 with the swapping of 5,002 units. Eppley dipped $1.49 after ending at $39.01, with 117 stock units crossing the exchange, First Rock Real Estate gained 50 cents to close at $12 with an exchange of 41,564 shares, GraceKennedy shed 85 cents in closing at $93.50 after exchanging 84,712 stocks. Guardian Holdings fell $30.93 to $499, with 260 stock units clearing the market, Jamaica Broilers lost 94 cents to end at $28.50 in an exchange of 1,684 units, Jamaica Producers declined 45 cents to $19.05 after 1,035 units crossed the market. Jamaica Stock Exchange rose 48 cents to close at $16.48 trading 18,284 stock units, Kingston Wharves rallied $1.40 to end at $37.50 with 27 shares changing hands, Massy Holdings climbed $3 to close at $90 while exchanging 23,457 stocks. Mayberry Investments dropped 77 cents to $7.52 in switching ownership of 544 shares, Mayberry Jamaican Equities shed $1.06 in closing at $13 in trading 345,720 stock units, NCB Financial lost $1 to $89 with a transfer of 126,186 units. 138 Student Living fell 99 cents in ending at $5.51 after a transfer of 714 stocks, Palace Amusement dipped $168.98 to end at $730.02 as investors exchanged 184 stocks, Proven Investments dropped 44 cents to $31.55 after exchanging 4,801 units. Scotia Group declined $1.50 in closing at $34.50 in exchanging 11,962 stock units, Seprod declined 93 cents to close at $69.02 after finishing trading 7,413 shares and Supreme Ventures dipped $1.34 to end at $28.01, with 14,112 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.