Trading pulls back for JSE main market

Market activity on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 36 percent with an 89 percent less money chasing stocks than on Monday as 59 securities were traded compared to 61 on Monday, with prices of 23 rising, 24 declining and 12 ending unchanged.
At the close of trading, the All Jamaican Composite Index rose 528.75 points to 408,235.30, the JSE Main Index rallied 622.71 points to 359,769.47 and the JSE Financial Index shed 0.04 points to settle at 85.52.
The PE Ratio, a formula used to ascertain stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasts by ICInsider.com for companies with the financial year ending between November and August 2023.
A total of 14,621,118 shares were exchanged for $121,702,731, down from 22,909,155 units at $1,091,762,298 on Monday. Trading averaged 247,816 units at $2,062,758 versus 375,560 shares at $17,897,743 on Monday and month to date, an average of 740,045 units at $5,459,960, compared to 765,882 units at $5,638,283 on the previous day. July closed with an average of 173,643 units at $1,683,017.
Mayberry Investments led trading with 6.55 million shares for 44.8 percent of total volume, followed by Wigton Windfarm with 2.38 million units for 16.3 percent of the day’s trade and Sagicor Select Financial Fund with 1.03 million units for 7 percent market share.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints popped 83 cents to end at $11.34 after 197 shares crossed the exchange, Caribbean Cement rallied $3.50 in closing at $63.50 and trading 32,302 units, Eppley Caribbean Property Fund rose $3.98 to $44 as investors exchanged six stock units. First Rock Real Estate fell 96 cents to $11.50 in trading 38,046 stocks, GraceKennedy advanced 55 cents to $93.95 in switching ownership of 37,033 stock units, Jamaica Stock Exchange gained $1.80 to end at $17.90 with a transfer of 52,975 shares. JMMB Group increased $1.51 in closing at $42.50 with 171,890 stocks clearing the market, Massy Holdings climbed 64 cents to $86.14 with investors transferring 6,785 units, Mayberry Investments increased 38 cents to $9.50 with an exchange of 6,554,435 shares. MPC Caribbean Clean Energy climbed $16.50 to close at $84.50 in exchanging 2,489 stocks, 138 Student Living dipped $1.20 to $5.30 while exchanging 961,825 units, Palace Amusement advanced $139 to end at $850 after trading one stock unit. PanJam Investment gained $2.99 in ending at $62 after a transfer of 576 stock units, Portland JSX rallied $1.04 to close at $10.04 after exchanging 134 units, Proven Investments declined 55 cents in closing at $32.80, with 8,286 stocks changing hands. Stanley Motta popped 79 cents in closing at $5.45, with 110,026 shares crossing the market and Supreme Ventures rose $1.10 to close at $29.90 in an exchange of 13,378 stocks.
In the preference segment, Productive Business Solutions 9.75% preference share shed $43 to end at $107, with 70 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.