Volume up prices down on JSE on Tuesday

Trading picked up on the Jamaica Stock Exchange on Tuesday, compared to the very modest level on Monday. Trading ended with an exchange of 2,832,561 units valued at over $81,949,830 compared to a mere 1,455,806 units valued just $24,016,207 on Monday.
The pickup in trading did not result in the continuation of a rise in the indices that occurred on Monday and the All Jamaican Composite Index lost 865.50 points to close at 337,233.03 and the JSE Index declined 788.57 points to 307,257.36.
Activities in the main market and US dollar market resulted in 30 securities trading including 4 from the US dollar market, compared to 28 securities trading on Monday. At the end of trading, the prices of 7 stocks advanced, 14 declined and 9 closed unchanged.
The day’s volume was led by, Sagicor Group with 758,030 shares, settling at $38.75 followed by Wisynco Group trading 584,757 units and finished at $9.35.
Stocks with major price changes are, Caribbean Cement lost $1.35 and finished at $41.15, exchanging 933 shares, Grace Kennedy dropped $1.48 and ended at $51.52, trading 40,825 shares, Jamaica Broilers lost 55 cents to $23.95 trading 101,933 units. Kingston Wharves jumped $1.97 finished at a 52 weeks’ high of $53.97 with 9,631 stock units, NCB Financial Grouprose 25 cents to $96.25, trading 251,351 shares, PanJam Investment dropped $1.50 and closed at $53, as 14,820 stock units traded. Pulse Investments lost 70 cents as 27,498 shares traded down to $2.30, Sagicor Group fell $1.25 to $38.75 with the trading of 758,030 units, Sagicor Real Estate Fund jumped $1.05 and settled at $15.10, exchanging 8,443 shares, Seprod lost 49 cents to $34.01 in trading 3,092 units and Supreme Ventures lost 95 cents and ended at $15.05, as 134,214 shares traded and Sygnus Credit traded 6,998 units and rose 45 cents to close at $13.20.
Trading resulted in an average of 108,945 units valued at over $3,151,917, in contrast to 60,659 shares valued at $1,000,675 on Monday. The average volume and value for the month to date amounts 155,968 units valued at $3,046,939 compared to 160,016 units valued at $3,037,085 on Monday. June closed with an average of 250,168 shares with a value of $5,895,281, for each security traded.
Trading in the US dollar market closed with 207,453 units valued at $17,742 as JMMB Group 5.75% preference share completed trading at $1.03 with 20,000 stock units, Sterling Investments lost 0.5 cents and finished at a 52 weeks’ low of 8.5 US cents with 190,000 shares changing hands, Proven Investments closed at 15 US cents trading 346 shares, an attempted trade at 9 cents was cancelled as it would have exceeded 30 percent move in a day and Sygnus Credit traded 14,000 units at 11 US cents. The JSE USD Equities Index dropped 9.82 points up to 139.56.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 5 closing with lower offers.