Trading plunges on the JSE Main market

The volume of stocks trading on Wednesday dropped 60 percent and the value was 28 percent lower than on Tuesday, following trading in 53 securities compared to Tuesday with 21 rising, 8 declining and 14 ending unchanged.
A total of 4,010,188 shares were exchanged for $42,902,377 versus 10,084,883 units at $60,042,941 on Tuesday.
Trading averaged 75,664 units at $809,479 versus 183,361 shares at $1,091,689 on Tuesday and month to date, an average of 130,510 units at $953,197. October closed with an average of 231,243 units at $1,464,224.
JMMB Group 7.35% – 2028 led trading with 1.08 million shares for 26.9 percent of total volume followed by Wigton Windfarm with 857,861 units for 21.4 percent of the day’s trade and Pulse Investments with 853,000 units for 21.3 percent market share.
The All Jamaican Composite Index rose 126.73 points to 396,516.33, the JSE Main Index gained 596.57 points to 346,641.58 and the JSE Financial Index dipped 0.15 points to settle at 83.28.
The PE Ratio , a formula to ascertain appropriate stock values, averages 13.5 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 seven stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, Barita Investments declined $1.52 in closing at $96.48 after exchanging 4,775 shares, Caribbean Cement gained 60 cents to close at $58.10 with the swapping of 1,283 stock units, Caribbean Producers popped 82 cents to $13.35 with investors transferring 82,145 units. Eppley climbed $2.23 to close at $37.43 after transferring 3,126 stocks, Eppley Caribbean Property Fund rose $1.97 to end at $40 with 1,500 shares changing hands, Jamaica Broilers lost 97 cents to close at $28 in trading 44,230 units. Jamaica Producers advanced 53 cents to $17.80 in exchanging 2,355 stocks, Kingston Wharves fell 40 cents in closing at $37.50 with 4,217 stock units clearing the market, Massy Holdings dropped $1.04 after ending at $79.96 in an exchange of 352 units. Mayberry Jamaican Equities dipped $1.69 to end at $12.13 trading 3,581 stock units, 138 Student Living shed 98 cents to close at $5.52 in an exchange of 25 stocks, Proven Investments gained $1.90 to end at $32 after 12,646 shares cleared the market.
In the preference segment, Eppley 7.50% preference share dropped $1.44 in closing at $6.30 with 202 units changing hands and Productive Business Solutions 9.75% preference share rallied $33 to $140 after a transfer of one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.