Trading value of stocks plunges

Trading activity dropped sharply on the Jamaica Stock Exchange Main Market to extremely low levels at the close on Tuesday, with the volume of stocks traded declining 23 percent and the value 36 percent lower than the already puny trading levels on Monday, with 61 securities trading compared with 57 on Monday, and resulted in prices of 22 rising, 27 declining and 12 ending unchanged.
Trading ended with an exchange of 4,541,590 shares for just $25,960,870 compared with 5,872,129 units at $40,649,016 on Monday. The value of stocks traded on Tuesday is the lowest since October 30, when $15.93 million worth of shares were traded.
Trading averaged 74,452 shares at $425,588 versus 103,020 units at $713,141 on Monday and month to date, an average of 263,283 units at $1,672,159, compared with 278,165 units at $1,770,403 previously and more than in October with an average of 214,410 units at $1,325,907.
Wigton Windfarm led trading with 1.59 million shares for 35.1 percent of total volume followed by Transjamaican Highway with 714,833 units for 15.7 percent of the day’s trade and Sagicor Select Financial Fund with 483,100 units for 10.6 percent market share.
The All Jamaican Composite Index rose 1,587.93 points to wrap up trading at 347,844.97, the JSE Main Index climbed 482.71 points to end trading at 312,931.89 and the JSE Financial Index rose 0.36 points to lock up trading at 67.98.
The Main Market ended trading with an average PE Ratio of 12.9. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and eight with lower offers.
At the close, AS Bryden popped 50 cents to $29.50 while exchanging 6,494 stocks, Berger Paints dropped 34 cents to end at $7.10 with dealings in 1,807 units, Caribbean Cement fell 65 cents in closing at $49.55 after 21,990 shares were traded. Caribbean Producers lost 26 cents to close at a 52 weeks’ low of $8.99 in switching ownership of 74,481 stock units, but only after the price hit an intraday 52 weeks’ low of $8.22, Eppley advanced $4.79 and ended at $33.30 as a mere one share passed through the market, Eppley Caribbean Property Fund dipped $1.99 to $36.51 after investors ended trading 450 units. General Accident skidded 59 cents to close at $4.56 with investors transferring 1,669 stocks, Guardian Holdings rose $2 to end at $412, with 20 stock units crossing the exchange, Jamaica Producers declined 26 cents in closing at $22.04 after a transfer of 4,057 shares. Jamaica Stock Exchange shed 50 cents and ended at $9 in trading 13,034 stock units, Kingston Wharves climbed $1.50 to $28 after an exchange of 1,271 stocks, Massy Holdings fell $5.90 and ended at $85.10, with 535 units crossing the market. NCB Financial shed 83 cents to close at $69 after an exchange of 41,642 shares, Pan Jamaica declined $2.48 in closing at $47, with 222 units changing hands, Proven Investments increased by 90 cents to end at $23, with an exchange of 7,269 stocks. Radio Jamaica lost 17 cents to close at a 52 weeks’ low of $1.26 cents after 178,798 shares changed hands, Sagicor Group gained $1 to $41, with 37,933 units crossing the market, Scotia Group lost 41 cents and ending at $33.50 in an exchange of 74,094 shares, Sygnus Credit Investments rallied 26 cents to close at $12.05, with 58,001 stock units clearing the market and Sygnus Real Estate Finance increased $1.29 to end at $10.69 as investors exchanged 3,087 stocks.
In the preference segment, Jamaica Public Service 7% climbed $4.99 in closing at $46 with shareholders swapping 11 units and Productive Business Solutions 10.5% preference share rose $50 to $1,200 in an exchange of 3 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.