Modest gains for JSE Main Market

The number of securities trading rose above Tuesday’s level but the volume of stocks plunged 58 percent and the value 70 percent below Tuesday’s as market activity ended Wednesday, with the Jamaica Stock Exchange Main Market with the market indices recording modest gains at the close as the Investor’s Choice bid-offer indicator was flashing one of the strongest short term bull signals for some time.
The All Jamaican Composite Index rose 103.47 points to 446,780.08, the Main Index advanced 325.79 points to 407,088.10 and JSE Financial Index popped 0.03 points to end at 98.91.
Trading ended with 54 securities up from 50 on Tuesday, with just 13 rising, 26 declining and 15 ending unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 15.7 based on forecast of 2021-22 earnings.
At the close, 5,205,273 shares traded for $57,933,745 versus 12,260,493 units at $193,948,042 on Tuesday. Wigton Windfarm led trading with 53.1 percent of total volume for an exchange of 2.76 million shares followed by Mayberry Investments 10.1 percent, with 526,081 units and Mayberry Jamaican Equities 4.5 percent, with 233,952 shares.
Trading averages 96,394 units at $1,072,847, compared to 245,210 shares at $3,878,961 on Tuesday and the month to date averages 371,981 units at $3,990,142, compared to 402,106 units at $4,309,037 on Tuesday. August closed with an average of 480,039 units at $8,561,549.
Investor’s Choice bid-offer indicator shows sixteen stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments shed 55 cents in closing at $89.95 in an exchange of 12,190 shares, Berger Paints gained 49 cents to end at $13.50 with a transfer of 174 stock units, Caribbean Cement rallied 90 cents to $104.90 after 6,490 stocks cleared the market. First Rock Capital popped 81 cents to $12.50 with 140 units trading, GraceKennedy slipped 34 cents to $101.65 with the swapping of 79,226 stocks, Guardian Holdings dropped $12 to $595 in switching ownership of 982 stock units. Jamaica Broilers fell $2 to $28 in transferring 29,152 shares, Jamaica Producers advanced $2 to $23.50 in trading 300 units, Jamaica Stock Exchange rose 27 cents to $17.45 with an exchange of 2,149 stock units. JMMB Group lost 26 cents to close at $35.74 with 97,125 shares clearing the market, Kingston Properties lost 40 cents to $9.84 after 230 units crossed the market, Kingston Wharves fell $1 to $46.50 in exchanging 5,938 stocks. Palace Amusement dropped $70 to $930 with the swapping of 43 units, PanJam Investment declined $3 to $62 with an exchange of 3,316 stock units, Proven Investments shed $1.54 to close at $31.06 after trading 6,000 stocks. Sagicor Group slipped $1 to $53 in exchanging 17,365 shares, Scotia Group shed 96 cents to end at $38.60 after a transfer of 68,535 stocks, Seprod declined $2 to $64 with an exchange of 5,832 units. Supreme Ventures fell 50 cents to $18 in switching ownership of 241 shares, Sygnus Credit Investments dipped 33 cents to $15.37 in trading 9,182 stock units.
In the preference segment, Community & Workers Credit Union popped 25 cents to $1.85 in exchanging 1,400 units and Eppley 7.25 climbed $3 to $23 with 1 stock crossing the exchange.

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

About IC