Trading plunges on JSE Main Market

Trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded declining 30 percent and the value diving 58 percent lower than on Tuesday, with 59 securities trading compared to 60 on Tuesday, resulting in the prices of  18 rising, 24 declining and 17 ending unchanged.
Only 7,575,200 shares were traded for just $27,742,615 compared with 10,763,695 units at $65,931,590 on Tuesday.
Trading averaged 128,393 shares at $470,214, versus 179,395 shares at $1,098,860 on Tuesday and month to date, an average of 217,446 units at $1,465,231, compared to 230,484 units at $1,610,904 on the previous day. April closed with an average of 264,549 units at $1,409,410.
Wigton Windfarm led trading with 2.80 million shares for 36.9 percent of total volume followed by Sagicor Select Financial Fund with 1.20 million units for 15.8 percent of the day’s trade and Transjamaican Highway with 1.0 million units for 13.2 percent of market share.
The All Jamaican Composite Index fell 511.59 points to 368,714.93, the JSE Main Index popped 437.53 points to finish at 334,568.02 and the JSE Financial Index inched 0.07 points higher to 75.61.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last selling prices of stocks and earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 17 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Berger Paints increased 49 cents to end at $8.29 and closed with an exchange of 378 shares, Caribbean Cement shed 98 cents in closing at a 52 week’s low of $50.02 after trading 38,022 stocks, Caribbean Producers declined 40 cents to close at $10.10, with 22,647 units crossing the market, Eppley Caribbean Property Fund rose $1 and ended at $41.60 with investors transferring 200 stock units. GraceKennedy rallied 50 cents to $77.99 after a transfer of 6,403 stock units, Guardian Holdings gained $28 to end at $500 while exchanging one stock, Jamaica Stock Exchange advanced 60 cents in closing at $14, with 7,050 shares crossing the exchange, JMMB Group dropped 97 cents to close at $29.02 as investors exchanged 11,918 units. Margaritaville climbed $3.37 in ending at $17.08 with shareholders swapping 750 units, Massy Holdings popped $1.50 to $99.50 as 30,226 units passed through the market, Mayberry Investments dipped 39 cents to close at $7.50, with 13,778 stocks changing hands, Mayberry Jamaican Equities lost 50 cents and ended at $10 with a transfer of 81,450 shares. MPC Caribbean Clean Energy increased $10.75 to end at $83 in trading 25 units, NCB Financial advanced $3 in closing at $75 after an exchange of 28,214 stocks,Proven Investments fell 59 cents to $25.41 in an exchange of 6,630 shares, Sagicor Group dipped $1.19 to close at $48.19 with 8,437 stock units changing hands. Scotia Group popped 50 cents to $35 in switching ownership of 21,437 shares, Seprod lost $1.89 and ended at $70.11 after an exchange of 2,282 units, Stanley Motta dropped $1.20 in closing at $4.95 after shareholders exchanged 153,530 stock units, Supreme Ventures declined 99 cents to end at $27, with 169,524 stocks crossing the market and Wisynco Group rallied 39 cents in closing at $16.95 with 60,885 stock units clearing the market.
In the preference segment, Productive Business 10.50% preference share rose $20 to close at $1220 in an exchange of 100 shares, Eppley 5% preference share fell $4.95 to $18.03, with 39 units changing hands and 138 Student Living preference share gained $17.81 to end at $150, with one stock clearing the market stock.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.