Trading on the US dollar market of the Jamaica Stock Exchange dropped sharply on Wednesday, with the volume of stocks traded declining 59 percent, resulting in an exchange of only four securities compared to eight on Tuesday. At the close, prices of two securities rose, one declined and one remained unchanged.
The market closed with an exchange of 66,736 shares for US$8,755, falling sharply from 161,665 stocks at US$29,714 on Tuesday.
Trading averaged 16,684 shares at US$2,189, sliding from 20,208 stocks at US$3,714 on Tuesday, with a month to date average of 46,748 units at US$2,758, in line with 47,460 stocks at US$2,772 on the previous day and well below June that ended with an average of 591,343 units for US$19,218.
The US Denominated Equities Index lost 0.20 points to 205.67. The Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
The PE Ratio, one of the most frequently used measures to determine appropriate stock values, averages 10.3. The PE ratio is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with financial year ending around August 2025.
At the close of the market, MPC Caribbean Clean Energy dropped 6 cents to 39 US cents in an exchange of a mere one share, Proven Investments rallied 0.3 of one cent to end at 10.8 US cents with investors trading 14,250 units and Transjamaican Highway popped 0.09 of one cent in closing at 2.4 US cents in switching ownership of 46,950 shares.
In the preference segment, JMMB Group US8.5% remained at US$1.10 after an exchange of 5,535 stock units.
Prices of securities traded are those of the last transaction of the day.