Trading value plunges on JSE main market

The majority of rose on Thursday on the Jamaica Stock Exchange Main Market with 58 securities compared to 53 on Wednesday, with 32 rising, 12 declining and 14 ending unchanged and trading ended, with the volume of stocks traded rising 171 percent with a 43 percent lower value than Wednesday as a mere $46 million passed through the market.
The All Jamaican Composite Index rallied 543.67 points to 420,869.32, the JSE Main Index climbed 480.00 points to 369,335.69 and the JSE Financial Index added 0.40 points to close at 87.45.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 16,728,941 shares were traded for $46,042,543 compared to 6,172,524 units at $81,213,738 on Wednesday. Trading ended with an average of 288,430 units at $793,837, versus  116,463 shares at $1,532,335 on Wednesday and month to date, an average of 186,606 units at $1,138,336, compared to 132,918 units at $1,319,982 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Wigton Windfarm led trading with 9.10 million shares for 54.4 percent of total volume followed by JMMB Group 7.35% – 2028 with 3.99 million units for 23.8 percent of the day’s trade and Sagicor Select Financial Fund with 1.27 million units for 7.6 percent market share.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints rose 85 cents to $11.85 and closed with 89 shares changing hands, Caribbean Cement shed $1.45 in ending at $61 with 7,376 stock units clearing the market, Guardian Holdings advanced $1 to $506 after exchanging 105 units. Jamaica Broilers rallied 51 cents in closing at $29.37 in transferring 18,223 stocks, Jamaica Stock Exchange fell $1 to $17 after 6,864 stock units changed hands, Mayberry Investments fell $1.63 in closing at $8.85 after exchanging 26,148 shares. Mayberry Jamaican Equities declined 50 cents to $14 in an exchange of 106,063 units, NCB Financial popped $7.42 to end at $97.42, with 9,641 stocks crossing the market, 138 Student Living dropped 75 cents in ending at $4.30 in switching ownership of 2,895 stocks. Palace Amusement gained $1.01 to close at $756.01 after trading 50 units, PanJam Investment increased $1.40 to end at $59.60, with hinge shares crossing the exchange, Portland JSX gained 99 cents in closing at $9.50 in trading 1,524 stock units. Proven Investments popped 95 cents to close at $33.45, trading 563 stocks, Scotia Group lost 92 cents after ending at $34.07, with 12,502 stock units changing hands, Stanley Motta advanced 62 cents to $5.60 while exchanging 980 units and Sygnus Real Estate Finance increased 50 cents to $12.50 with the swapping of 364 shares.
In the preference segment, 138 Student Living preference share jumped $5.16 to a record high of $56.90 with an exchange of 218 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.