JSE Main Market fails to hold early gains

Market activity on Friday led to a fall in the value of stocks after an exchange of 152 percent more shares valued 99 percent higher than on Thursday as advancing stocks just edged out those declining at the close of trading on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index dropped 1,636.66 points to 456,395.73 after it hit 459,788.11 points at the market’s opening, the highest it had been since early March last year. The JSE Main Index fell 1,361.86 points to end at 456,395.73 and the JSE Financial Index slipped 0.7 points to settle at 105.83.
Overall, 45 securities traded down from 48 on Thursday, as 18 stocks gained, 17 declined and 10 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.2 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 21,218,791 shares trading for $209,043,560 versus 8,415,642 units at $105,241,816 on Thursday. Carreras controlled 48.2 percent of total volume, with 10.24 million shares, followed by Wigton Windfarm with 24.5 percent for 5.19 million units and Sagicor Select Financial Fund 7.3 percent, with 1.55 million units changing hands.
Trading averaged 471,529 units at $4,645,412, compared to 175,326 shares at $2,192,538 on Thursday. Trading month to date averages 260,205 units at $4,908,113, in contrast to 193,705 units at $4,990,781 on Thursday. May closed with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement rallied $2 to $92 in exchanging 25,887 shares, Carreras dropped 42 cents to $9.80 after crossing the market with 10,236,701 shares, First Rock Capital rose 25 cents to $16.25 in trading 13,437 units. Grace Kennedy dipped $1.45 to $88 with 53,744 stocks clearing the market, Jamaica Broilers slumped $3.20 to $31.80 with 15,774 units crossing the exchange, Jamaica Stock Exchange popped 33 cents to $17.36 in the swapping of 256,083 shares. Kingston Wharves picked up 30 cents in closing at $46.50 after exchanging 320 units, Margaritaville spiked $1.20 higher at $15.20 with a transfer of 7,795 stocks, Mayberry Investments shed 69 cents to end at $5.70 in an exchange of 63,862 shares, NCB Financial Group dropped $2.89 to $141 with the swapping of 91,318 units, Palace Amusement popped $9.80 to $995 trading 44 stocks. Pan Jam Investment fell $1 to $69 with 8,025 units changing hands, Proven Investments fell $1.50 to $35.50 in switching ownership of 8,702 shares, Sagicor Real Estate Fund dipped 64 cents to $8.35 with an exchange of 9,999 stock units. Scotia Group rose 90 cents to $42, with 259,313 shares crossing the exchange, Seprod swung $3.02 lower to $71 with the swapping of 56,990 stocks, Stanley Motta gained 23 cents to close at $6.03 in trading 1,027 units. Sterling Investments popped 23 cents lower to $3.06 after exchanging 185,283 shares, Supreme Ventures gained 35 cents in ending at $19.90, with 17,150 stocks clearing the market, Sygnus Credit Investments shed 30 cents to end at $15 after an exchange of 110,835 stock units. Victoria Mutual Investments rose 37 cents to $6.48 after transferring 209,147 shares and Wisynco Group fell 37 cents to $15.43 with 323,590 stocks crossing the market.
In the preference segment, JMMB Group 7.5% lost 6 cents to finish at 78 cents in transferring 150 shares.

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

About IC Insider.com