Strong rebound for Main Market on Wednesday

Market activity ended on Wednesday with the indices rebounding strongly after advancing stocks outnumbered declining ones, with the volume of shares traded up 5 percent, but the value dropped 44 percent lower than on Tuesday at the close of the Jamaica Stock Exchange Main Market.
At the close at trading, the All Jamaican Composite Index bolted 4,368.07 points to 460,028.45, the JSE Main Index climbed 3,966.51 points to end at 421,292.68 and the JSE Financial Index rose 1.49 points to 103.95.
Trading ended with 49 securities compared to 50 on Tuesday, with 21 stocks rising, 14 declining and 14 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averaged 16.5 based on’s forecast of 2021-22 earnings.
The market closed with 14,440,911 shares trading for $97,082,889 versus 13,712,829 units at $174,075,107 on Tuesday. Transjamaican Highway led trading with 27.2 percent for an exchange of 3.93 million shares, followed by JMMB Group 7.5% preference share 24.3 percent, with 3.51 million units and Wigton Windfarm with 12.4 percent exchanging 1.79 million units.
Trading averaged 294,712 units at $1,981,283 compared to 274,257 shares at $3,481,502 on Tuesday. Trading month to date averages 325,554 units at $16,300,774, compared to 327,152 units at $17,042,482 on Tuesday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has 16 stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments fell $1.20 to $83.50 with the swapping of 3,683 shares, Berger Paints rose 64 cents to $13.74 with 29 stocks crossing the market, Caribbean Cement rallied 50 cents to $93.50 in trading 61,824 stock units. Caribbean Producers popped 30 cents to $4.85 with 41,147 shares changing hands, Eppley Caribbean Property Fund shed $1 to settle at $42 in transferring 545 units, GraceKennedy rose $1 to $100 in an exchange of 149,602 stocks. Guardian Holdings bolted $8 to $649 with the swapping of 11,460 stock units, Jamaica Producers gained 29 cents in closing at $22 after exchanging 5,000 shares, Jamaica Stock Exchange slipped 53 cents to $17.30, with the swapping of 3,117 units. JMMB Group lost 37 cents to settle at $37.88, with 59,540 stocks clearing the market, Kingston Wharves shed 34 cents to end at $47.66 with 5,080 stock units crossing the market, Mayberry Jamaican Equities popped 33 cents to $9 in exchanging 34,122 shares. NCB Financial Group rose 50 cents to $142 with 8,605 stocks clearing the market, Palace Amusement shed $1 to end at $1,020 in transferring 67 units, Scotia Group popped $2.01 to $41 after 325,790 stock units crossed the exchange and Supreme Ventures advanced $1.25 to $20.50, with 708,931 shares changing hands.
Guardian Holdings 2025 6.5% corporate bond traded 5 million units and rose 29 cents to $103.32.

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

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