Trading volume dropped sharply on the US dollar market of the Jamaica Stock Exchange on Tuesday, with the market picking up a modest gain in the market index more stocks declining than rising.
At the close of the market, trading ended with six securities changing hands compared to five on Monday and ended with the prices of one stock rising, three declining and two remaining unchanged.
The JSE USD Equities Index increased 0.72 points to settle at 192.49, and the average PE Ratio of the market ended at 13.7 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 22,054 shares, accounting for US$14,604 compared to 774,661 units at US$24,766 on Monday.
An average of 3,676 units traded at US$2,434 on Tuesday, in contrast to an average of 154,932 shares at US$4,953 on Monday. Trading ended with an average of 55,086 units for the month to date at US$4,044 in contrast to 66,102 units at US$4,389. By comparison, July ended with an average of 133,150 units for US$18,282.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the JSE US Dollar market shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of the market,
Proven Investments lost three-tenths of a cent to close at 24.5 US cents, with 2,425 units crossing the market Sterling Investments increased six-tenths of a US cent to close at 2.85 US cents trading 5,500 units. Sygnus Credit Investments dropped by 1.8 US cents to settle at 15.2 US cents in an exchange of 229 units and Transjamaican Highway closed at 0.95 of a US cent while exchanging 4,000 stock units.
In the preference segment of the US dollar market, JMMB Group 5.75% remained at US$2.01 in clearing the market with 3,900 units and JMMB Group 6% declined by 6 US cents closing at 99 US cents with 6,000 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
