Sellers pressure JSE Main Market stocks

Stocks mostly dropped in prices at the end of trading on the Jamaica Stock Exchange Main Market on Wednesday, with the volume of stocks traded declining 26 percent from that on Tuesday, with a slightly higher value.  
The All Jamaican Composite Index sank 5,169.29 points to 449,757.41, the JSE Main Index dropped 4,912.09  points to close at 391,568.41 and the JSE Financial Index dipped 0.48 points to settle at 93.43. Trading ended with 53 securities down from 57 on Tuesday, with ten rising, 30 declining and 13 ending unchanged.
Overall, 12,251,051 shares were exchanged for $339,534,037 versus 16,623,237 units at $309,172,008 on Tuesday.
Trading averages 231,152 units at $6,406,303, compared to 291,636 shares at $5,424,070 on Tuesday and month to date, an average of 241,868 units at $4,528,727, compared to 242,352 units at $4,374,792 on the previous trading day. The trade for April averaged 532,209 units at $5,709,319.
Eppley Caribbean Property Fund led trading with 2.46 million shares for 20.1 percent of total volume, followed by Wigton Windfarm with 1.78 million units for 14.5 percent of the day’s trade. Transjamaican Highway ended with 1.77 million units for 14.4 percent market share and Massy Holdings with 1.01 million units for 8.2 percent of traded shares.
The PE Ratio, a formula for computing appropriate stock values, averages 15.2. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments fell 60 cents to $89.30 with the swapping of 4,861 shares, Caribbean Cement dropped $3.30 to close at $61.50, trading 89,747 stocks, Caribbean Producers shed 34 cents in closing at $15.10, with 268,718 stock units crossing the exchange. Eppley increased $2.39 to $50.39, with 55 units changing hands, Eppley Caribbean Property Fund rallied $9.47 to end at $50 after trading 2,459,396 stocks, GraceKennedy lost $1.47 to $107.53 after an exchange of 246,477 units. Jamaica Producers declined $1.48 to close at $21.62 in an exchange of 38,080 shares, Kingston Properties shed 30 cents to end at $8 with an exchange of 107,215 stock units, Massy Holdings dropped $1.50 in closing at $92.50 while exchanging 1,005,358 stocks. Mayberry Jamaican Equities fell 52 cents to end at $15 in switching ownership of 42,288 units, MPC Caribbean Clean Energy lost $13.99 to end at $95.01 in trading 35 stock units, NCB Financial advanced $1.04 to $110.15, exchanging 70,666 shares. PanJam Investment declined $4 after ending at $62, with 67,228 stocks crossing the market, Stanley Motta shed 46 cents in closing at $5.04 after exchanging 195 units and Supreme Ventures dropped $1.50 to close at $30 after finishing trading of 428,090 stock units.
In the preference segmentEppley 7.50% preference share climbed $1.05 to end at $8.07 after trading 122,233 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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