Stocks suffered a big reversal at the close of trading on Monday with the market after stock prices fell twice as much as those that rose, with the value of stocks trading dropping 60 percent with marginally lighter volume compared to trading on Friday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index plunged 7,165.97 points to 464386.22, the JSE Main Index dived 5,561.25 points to 425,548.58, while the JSE Financial Index slipped just 2.42 points to 104.87. Trading ended with 51 securities compared to 48 on Friday, with 13 stocks rising, 25 declining and 13 remaining unchanged.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 17 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 18,854,189 shares trading for $72,201,390 versus 19,122,031 units at $179,348,158 on Friday. Wigton Windfarm led trading with 48.8 percent of total volume for an exchange of 9.20 million followed by Transjamaican Highway 15.6 percent with 2.94 million units, Sagicor Select Financial Fund cornered 10.5 percent, with 1.99 million units and Mayberry Investments with 9.5 percent for 1.79 million units changing hands.
Trading averaged 369,690 units at $1,415,714, down from 398,376 shares at $3,736,420 on Friday. Trading month to date averages 253,353 units at $3,956,090, in contrast to 247,075 units at $4,093,190 on Friday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments dipped 89 cents to $81.10 in trading 4,968 shares, Eppley dropped $1.35 to $42.65 in switching ownership of 610 stock units. First Rock Capital shed 75 cents to end at $15.50 in trading 5,122 shares, Jamaica Broilers closed $1.25 lower at $35.25 in exchanging 27,743 units, Jamaica Producers spiked $1.25 to $24.75 with 17,202 shares crossing the exchange, Kingston Properties slashed 92 cents off to end at $7.50 after a transfer of 18,357 units, Kingston Wharves dropped $3 to finish at $47 in switching ownership of 101,493 shares. Mayberry Investments rallied 73 cents in closing at $6.38 with an exchange of 1,794,042 stock units, Mayberry Jamaican Equities dipped 26 cents to $8.75 in trading 120,742 shares. NCB Financial declined $2 to $141 with the swapping of 33,912 stock units, Palace Amusement surged $175.27 to $1,350.27 with 324 units changing hands, PanJam Investment ended $1.84 lower at $67 with a transfer of 23,513 shares. Proven Investments shed 81 cents to close at $34.21 in trading 44,330 units, Sagicor Group dropped $2.30 to $56.31 after exchanging 19,889 stocks. 
Scotia Group fell 60 cents to $41 with the swapping of 10,820 units, Seprod slipped $1 to $73.50 trading 6,685 stocks, Sterling Investments lost 20 cents to close at $2.80 with 300,000 shares crossing the exchange and Supreme Ventures spiked $1.10 to $20.90 in switching ownership of 30,505 stocks.
In the preference segment, Eppley 8.25% lost 55 cents to end at $6.05 with the swapping of 774 stocks and JMMB Group 7.25% popped 40 cents to $1.50 in an exchange of 11 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Seven securities traded, up from four on Friday with one rising, four declining and two remaining unchanged. The JSE USD Equity Index gained 0.07 points to end at 195.53.
Proven Investments remained at 25.01 US cents after 20,151 stocks changed hands. Sterling Investments fell 0.11 of a cent to 1.99 US cents with 96,845 shares passing through the market, Sygnus Credit Investments traded 42,412 stock units at 15 US cents and Transjamaican Highway slipped 0.01 of a cent to 0.85 US cents with 65,500 units crossing the exchange.
At the close, Access Financial dropped $1.38 to $21.50 with 100 shares traded, AMG Packaging fell 14 cents to $1.56 with 55,000 stocks changing hands, Blue Power lost 20 cents to end at $3.40 with an exchange of 20,000 stock units. Caribbean Assurance Brokers rose 10 cents to $2 with a transfer of 1,000 shares, Caribbean Cream fell 37 cents to $5.38 in switching ownership of 29,168 units, Consolidated Bakeries added 5 cents to end at $1.75 with 1,660 stocks traded. Dolphin Cove slipped 10 cents to $8.40 with 382 stock units changing hands, Express Catering popped 90 cents to $6.35 with an exchange of 89,197 shares, General Accident fell 25 cents to $5.25 with a transfer of 5,000 stocks. GWest Corporation rose 5 cents to 85 cents with 195,827 units passing through the market, Honey Bun gained 5 cents to end at $7 with 5,500 stock units traded, Indies Pharma dropped 48 cents to $3.25 with 291,275 shares changing hands. Iron Rock Insurance slipped 7 cents to $3.03 with an exchange of 13,250 units, ISP Finance spiked $4.45 to $22.43 with a transfer of 100 stock units, Jamaican Teas slipped 7 cents to $4.40 with 1,410,943 stocks changing hands after the price hit an intraday high of $4.60. Jetcon Corporation dropped 13 cents to $1.35 with 78,559 shares traded, KLE Group rallied 10 cents to finish at $1.35 with 2,419 units changing hands, Knutsford Express shed $1.71 to close at $7.04 with an exchange of 5,426 stocks.
Lasco Distributors slipped 9 cents to $4.11 with a transfer of 229,778 stock units, Limners and Bards lost 8 cents to end at $3.01 with investors swapping 34,350 shares. Main Event fell 23 cents to $5.20 with 26,845 stocks traded. Medical Disposables dipped 30 cents to $4.22 with a transfer of 161,393 units and Stationery and Office Supplies declined by 40 cents to $7.60 with 40,000 stock units crossing the exchange.
National Flour Mills fell 15 cents to $2.10 in trading 1,152 stocks, NCB Financial Group closed at $7.99 while exchanging 2,364,066 shares, One Caribbean Media ended at $4.51 in swapping 200 units. Prestige Holdings shed 24 cents to close at $6.75 in exchanging 4,582 stock units, Republic Financial Holdings rose 7 cents to $135.07 after exchanging 10,000 shares, Scotiabank closed at $57, trading 27,639 shares. Trinidad & Tobago NGL lost 70 cents in closing at $17.30 with an exchange of 8,606 shares, Trinidad Cement dipped 3 cents to $3.27 after trading 1,000 stocks, Unilever Caribbean remained at $16.33 after an exchange of 182,149 shares and West Indian Tobacco closed at $32, with 5,172 units changing hands.
Main market had three days of decline but ended the week with a fall of points after recording a strong rise the previous week.
This past week the average gains projected for the Junior stocks slipped from 207 percent last week to 204 percent and the Main Market stocks moved up from last week’s 166 percent up to 172 percent with the upgrading of JMMB earnings.
The Junior Market closed the week with an average PE 13.1 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the recent historical average of 17 for the period to March this year based on 2020 earnings. For the market to trade at the historical average, the PE Ratio would have to rise by 31 percent and require a rise of 52 percent to March 2022 to reach the targeted PE of 20.
The Main Market TOP 10 trades at a PE of 7.9 or 46 percent of the PE of that market, well off the potential of 20.
The All Jamaican Composite Index sprung 2,108.95 points higher to 471,552.19, the JSE Main Index fell 623.96 points to end at 431,109.83 and the JSE Financial Index slipped 0.23 points to 107.29.
Investor’s Choice bid-offer indicator reading has twelve stocks ending with bids higher than their last selling prices and two with lower offers.
Portland JSX sprung 61 cents higher to $9.41 with 948 units changing hands, Proven Investments shed 37 cents to close at $35.02 in trading 20,407 stocks, Sagicor Group dived $4.23 to $58.61, with 267,469 shares clearing the market, Stanley Motta gained 25 cents to close at $5.90 with an exchange of 68,437 stocks, Sterling Investments rallied 20 cents to $3 with 973 stock units changing hands and Wisynco Group popped 49 cents higher to $15.98 in trading 176,609 shares.
Just 32 securities trading compared to 40 on Thursday, with the prices of 15 rising, 10 declining and seven closing unchanged.
The Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two stocks with lower offers.
Medical Disposables lost 9 cents to end at $4.52 with 15,200 units traded and Stationery and Office Supplies jumped 44 cents to $8 with just one share crossing the exchange.
Trading ended with four securities changing hands, compared to six on Thursday, with the prices of three rising, none declining and one remaining unchanged.
At the close, First Rock Capital advanced 0.88 of a cent to 8.88 US cents with an exchange of 11 shares, Margaritaville remained at 9 US cents with 12,900 stocks traded, Sterling Investments rose 0.1 of a cent to 2.1 US cents with 100 units changing hands and Transjamaican Highway gained 0.01 of a cent to end at 0.86 of a US cent with 163,160 shares crossing the exchange.
At the close, 14 traded compared to 17 on Thursday, with four stocks rising, two declining and eight remaining unchanged. The Composite Index fell 0.74 points to 1,389.63, the All T and T Index dipped 0.63 points to 1,900.95 and the Cross-Listed Index shed 0.12 points to settle at 118.06.
First Citizens Bank ended at $49.50 after exchanging 987 units, Grace Kennedy slipped 4 cents to $5.41 in trading 10 stock units, Guardian Holdings shed $1.68 to close at $33, after 36,186 shares changed hands. Massy Holdings rallied $1.15 to close at $81.15 in trading 30,923 stocks, National Enterprises rose 20 cents to $3 with the swapping of 30 stock units, NCB Financial Group settled at $7.99 with an exchange of 627 shares. Prestige Holdings settled at $6.99, with 145 units clearing the market, Scotiabank remained at $57 trading 6,562 shares, Trinidad & Tobago NGL settled at $18, with 21,033 stock units clearing the market and West Indian Tobacco traded 1,200 stocks at $32.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and none with lower offers.
Supreme Ventures rallied 41 cents to $19.80 in an exchange of 249,511 shares and Wisynco Group shed 35 cents to close at $15.49 after and exchange of 56,894 stocks.
