Wigton dominates main market as price dips

Market activity ended on Wednesday with the market rising after the volume of shares traded fell 60 percent with values down 71 percent compared to Tuesday, with Wigton Windfarm accounting for nearly half of the volume of stocks traded, as the price hit a new 52 weeks’ low as the stock looks technically weak at the close of the Jamaica Stock Exchange Main Market.

At the close, the All Jamaican Composite Index advanced 2,218.44 points to 461,341.26, the JSE Main Index rose 1,596.37 points to end at 428,073.03 and the JSE Financial Index popped 0.67 points to 106.19.
Trading ended with two stocks ending at 52 weeks’ highs and two at lows as 52 securities traded similar to Tuesday, with 19 stocks rising, 22 declining and 11 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.5 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 8,879,043 shares trading for $56,815,416 versus 22,237,953 units at $198,202,082 on Tuesday. Wigton Windfarm led trading with 46.7 percent of total volume for an exchange of 4.34 million shares, followed by Transjamaican Highway with 17.3 percent for 1.60 million units and Sagicor Select Financial Fund with 5.8 percent for 541,055 units.
The average day’s trade is 170,751 units at $1,092,604, compared to 427,653 shares at $3,811,578 on Tuesday. Trading month to date averages 249,247 units at $4,649,442, in contrast to 256,820 units at $4,992,587 on Tuesday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading is strong, with 17 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments fell $2.10 to close at $81.10 with the swapping of 17,680 shares. Caribbean Cement lost 26 cents to end at $93.75 in exchanging 5,661 stocks, Eppley spiked $5 to settle at a 52 weeks’ high of $45 with the swapping of 1,270 units. Eppley Caribbean Property Fund plunged $6.90 to $35 in switching ownership of 5,410 stock units, First Rock Capital lost 20 cents ending at $15.80 in an exchange of 3,724 stocks, Grace Kennedy rose $1.30 to $96.30 in transferring 28,487 stock units. Guardian Holdings declined $4.50 to $755 with 3,590 shares changing hands, Jamaica Broilers advanced $2.20 to $35.80 in trading 5,924 units, Jamaica Producers shed 93 cents in closing at $23.50 with a transfer of 46,176 stock units. JMMB Group rose $1.09 to close at a 52 weeks’ high of $37.79 in exchanging 111,569 shares, Margaritaville gained 45 cents to end at $14.75 with 66,800 stock units clearing the market, Mayberry Investments ended 54 cents higher at $6.05 after an exchange of 209,044 shares, Mayberry Jamaican Equities gained 45 cents to close at $9.55 with 115,030 stock units clearing the market. MPC Caribbean Clean Energy picked up 23 cents to end at $116.23 in trading 3,194 units, NCB Financial Group advanced $2 to close at $145 with 50,829 shares crossing the market, Palace Amusement plunged $170 to close at $1,000 with the swapping of 513 stocks. Pan Jam Investment fell $1.51 in closing at $65.05 in transferring 24,696 units, Proven Investments dived $1.90 to finish at $35 in an exchange of 345,327 shares, Sagicor Group spiked $5.90 to $57.90 in switching ownership of 58,795 stock units, Sagicor Real Estate Fund gained 70 cents to end at $9 in an exchange of 1,510 stocks, Salada Foods lost 20 cents to settle at $8 with a transfer of 44,470 shares. Seprod rose 99 cents to close at $74, with 9,423 units crossing the exchange, Supreme Ventures ended 72 cents higher at $20.80 after an exchange of 43,256 stock units, Sygnus Credit Investments gained 57 cents in closing at $15.19 in trading 121,657 stocks. Transjamaican Highway lost 3 cents to end at 52 weeks’ low of $1.17 with an exchange of 1,604,464 units and Wigton Windfarm dropped 4 cents to close at a 52 weeks’ closing low of 57 cents, after hitting an intraday low of 53 cents, with 4,336,688 units clearing the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

About IC Insider.com