Trading sank on JSE Main Market

Trading Market activity on the Jamaica Stock Exchange Main Market ended on Friday, sank to depressed levels, with the volume traded rising 71 percent, with a 75 percent lower value than on Thursday, following the trading of 58 securities, up from 54 on Thursday, with 18 rising, 24 declining and 16 ending unchanged.
Investors showed hesitance in buying stocks, trading 6,909,965 shares for $29,190,379 versus 4,041,001 units at $117,403,602 on Thursday.
Trading on Friday averaged 119,137 shares at $503,282 compared with 74,833 units at $2,174,141 on Thursday and month to date, an average of 159,682 units at $1,496,790 down from 162,851 units at $1,574,449 on the previous day. September closed with an average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 1.76 million shares for 25.5 percent of total volume, followed by Pulse Investments with 1.60 million units for 23.2 percent of the day’s trade and JMMB Group 7.35% – 2028 with 963,038 units for 13.9 percent market share.
The All Jamaican Composite Index dropped 1,103.98 points to 404,484.30, the JSE Main Index fell 669.30 points to 353,428.65 and the JSE Financial Index remained unchanged at 85.10.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 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 three with lower offers.
At the close, Barita Investments popped 57 cents to $102.47 after swapping 15,273 stock units, Caribbean Cement rallied 75 cents to close at $58.75, with 472 units crossing the exchange. Caribbean Producers increased 43 cents in closing at $13.93, with 14,795 stocks changing hands, Eppley Caribbean Property Fund gained $1.01 to end at $39.02 after trading 500 stock units, First Rock Real Estate dropped $1.19 to close at $14.16 with 2,000 units changing hands. GraceKennedy dipped 50 cents, ending at $89.50, with 27,637 stocks clearing the market, Guardian Holdings rose $3.98 to $500 in switching ownership of 50 shares, Jamaica Producers advanced $1 to $20 as investors exchanged 7,669 stocks. Margaritaville shed $2.90 to $22.60 after trading 99 stock units, Massy Holdings declined $3.89 in closing at $81.11 in trading 111 units, Mayberry Investments fell 60 cents to close at $7.40 with investors transferring 1,011 shares. NCB Financial lost $1.26 after ending at $88.73 in an exchange of 2,531 stock units, PanJam Investment fell $4.28 to end at $52.71 as 5,029 stocks were exchanged, Proven Investments rallied 50 cents to $30.55, with 6,065 units crossing the market. Sagicor Group increased 50 cents ending at $50.50 with an exchange of 3,010 shares, Seprod declined $1.06 to end at $69.94 with a transfer of 14,416 units and Wisynco Group dipped 48 cents to close at $17.92 in exchanging 84,013 stocks.
In the preference segment, Jamaica Public Service 9.5% dropped $100 in closing at $2,900 after a transfer of one share, JMMB Group 7.25% preference share climbed 40 cents to $3.19 after an exchange of 52 stock units and Productive Business Solutions climbed $50 to $1150 while exchanging nine shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.