Stocks surged sharply for a second day on the Main Market of the Jamaica Stock Exchange following Thursday’s big rally to close out the month slightly higher than the close of February, with the volume of stocks traded rising 83 percent and the value being 450 percent more than on Thursday, following trading in 60 securities similar to Thursday, with prices of 27 rising, 17 declining and 16 ending unchanged.
A total of 24,564,536 shares were traded for $579,763,758, compared with 13,390,755 units at $105,351,603 on Thursday.
Trading averaged 409,409 shares at $9,662,729 versus 223,179 stocks at $1,756,840 on Thursday and month to date, an average of 356,137 units at $3,015,416, compared with 353,545 shares at $2,691,932 on the previous day. February closed with an average of 183,599 units at $2,160,070.
Supreme Ventures led trading with 4.25 million shares for 17.3 percent of total volume, Transjamaican Highway followed, with 3.39 million units for 13.8 percent of the day’s trade, Wigton Windfarm ended with 3.08 million units for 12.5 percent take of the trades, CB Financial with 2.43 million units for 9.9 percent the market, JMMB Group with 2.20 million units for 9 percent of the total of the market and Stanley Motta, 1.28 million units for 5.2 percent market share.
The All Jamaican Composite Index surged 6,292.04 points to 383,757.21, the JSE Main Index ballooned 5,465.11 points to close at 340,535.88 and the JSE Financial Index popped 1.53 points to 79.13. The market now sits at a resistance point within a downward sloping channel and would require a few more days of bid break out for a return of a sustained move higher.
The PE Ratio, a formula used to compute appropriate stock values, averages 14.2 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments lost $2 to end at $79.20 after trading 45,089 shares, Berger Paints dipped 50 cents to close at $8.20 after a transfer of 3,415 stocks, Caribbean Cement rallied $4 to end at $60, with 27,583 units changing hands. Caribbean Producers advanced 49 cents to $9.70 in trading 29,291 stock units, Eppley Caribbean Property Fund increased 50 cents in closing at $45 with a transfer of 118,500 stocks, First Rock Real Estate gained $1.24 to close at $11.98 as investors exchanged 1,785 shares. GraceKennedy declined $3 in closing at $79 after an exchange of 367,052 stock units, Guardian Holdings rose 99 cents in ending at $494.99 while exchanging 150 units, Jamaica Broilers fell 90 cents to end at $37.10, with 769,272 stock units crossing the market. Jamaica Producers climbed 95 cents to $21.95 in switching ownership of 310,624 shares, Jamaica Stock Exchange popped 48 cents to close at $14.30 with investors transferring 260,024 units, JMMB Group climbed $3.10 to $33.25 with an exchange of 2,202,163 stocks. 
Kingston Wharves advanced 49 cents to $34.49, with 21,599 units crossing the market, Mayberry Investments shed 40 cents to end at $8 in an exchange of 10,912 stocks, Mayberry Jamaican Equities rose 50 cents to $13, with investors exchanging 777,262 stock units. NCB Financial rallied 50 cents to $75, with 2,429,581 shares crossing the exchange, Proven Investments popped 49 cents to end at $27.49 in an exchange of 2,131 stock units, Radio Jamaica rallied 51 cents to close at $2.26 as investors exchanged 1,084,937 stocks. Sagicor Group gained $3 to $53 with 975,343 shares clearing the market, Scotia Group increased 98 cents after ending at $34.98 with the swapping of 19,486 units, Seprod advanced $7.50 to $77.50 while 73,607 stock units passed through the market. Stanley Motta popped 66 cents to end at $6 with a transfer of 1,282,680 units, Supreme Ventures dropped 50 cents to close at $30.50 after an exchange of 4,249,866 shares, Sygnus Real Estate Finance dropped 66 cents to $9.30 with 508 stocks changing hands and Wisynco Group rose 40 cents after ending at $17.40 and 82,849 shares crossed through the market.
In the preference segment, Productive Business 10.50% preference share rallied $58 to end at $1258 in an exchange of 6 units, Jamaica Public Service 7% fell $55.90 in closing at $164.10, with 58 stocks clearing the market and Jamaica Public Service 9.5% gained $98 after ending at $2998 as investors exchanged 6 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Archives for March 2023
Trading slipped on the JSE USD Market
Trading slipped back from Thursday’s level as the Jamaica Stock Exchange US dollar market ended on a positive note on Friday, after the volume of stocks changing hands declined 23 percent, valued 19 percent less than Thursday, 
resulting in trading in five securities, compared to nine on Thursday with two rising, two declining and one ending unchanged as the JSE USD Equities Index gained 0.86 points to close at 231.90.
Overall, 1,234,958 shares were traded for US$16,361 compared with 1,608,959 units at US$20,097 on Thursday.
Trading averaged 246,992 units at US$3,272 versus 178,773 shares at US$2,23 on Thursday, with a month to date average of 172,829 shares at US$12,793 compared with 170,526 units at US$13,088 on the previous day. February ended with an average of 43,793 units for US$2,015.
The PE Ratio, a measure in computing appropriate stock values, averages 9.3. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share remained at 6.37 US cents and closed with 47 shares changing hands, Productive Business Solutions gained 28.49 cents to close at US$2.1849 as investors exchanged 561 stocks, Proven Investments dropped 0.5 of a cent to end at 17.5 US cents in switching ownership of 14,348 units. Sygnus Credit Investments lost 0.01 of a cent in ending at 9.49 US cents with investors transferring one stock unit and Transjamaican Highway advanced 0.09 of a cent to 1.09 US cents in trading 1,220,001 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big rally for Junior Market
Stocks enjoyed a big rally on the last day of the 2023 first quarter as investors closed the Junior Market of the Jamaica Stock Exchange on Friday, with a big rally in the market index following a buoyant volume of stocks trading, with a 13 percent slippage at a marginally higher value than on Thursday, with trading in 44 securities compared with 42 on Thursday and ending with 26 rising, 14 declining and four closing unchanged.
A total of 26,446,403 shares were traded for $79,364,016 compared with 30,528,396 units at $77,798,162 on Thursday.
Trading averaged 601,055 shares at $1,803,728 versus 726,867 stocks at $1,852,337 on Thursday, with a month to date average of 509,288 units at $1,071,868 compared to 505,086 stock units at $1,038,359 on the previous day. February closed with an average of 318,024 units at $782,332.
Regency Petroleum led trading with 6.27 million shares for 23.7 percent of total volume followed by JFP Ltd with 5.48 million units for 20.7 percent of the day’s trade, Indies Pharma with 4.88 million units for 18.5 percent of the day’s trade and Spur Tree Spices with 3.88 million units for 14.7 percent market share.
At the close, the Junior Market Index gained 93.32 points to 3,795.21.
The PE Ratio, a measure used in computing appropriate stock values, averages 11.4. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial gained 80 cents in closing at $25.99 after a transfer of 150,908 shares, AMG Packaging lost 18 cents to close at $3 as 613 stock units passed through the market, Cargo Handlers dropped 10 cents to $13.30 as investors exchanged 200 units. Consolidated Bakeries rose 14 cents to end at $2.15 with the swapping of 2,734 stocks, Derrimon Trading increased 19 cents after ending at $2 and closed after 51,465 shares changed hands, Dolla Financial climbed 10 cents to $2.81 in trading 178,095 units. Dolphin Cove declined 44 cents after ending at $14.26 in switching owners of 7,080 stock units, EduFocal rallied 13 cents to close at $2.03 after exchanging 80,000 stocks, Express Catering fell 35 cents to end at $4.75 after an exchange of 48,166 stocks. 
Fontana popped 22 cents in closing at $8.40 with 53,472 shares changing hands, Future Energy Source advanced 16 cents to end at $4.59, with 689,541 stock units crossing the market, General Accident rallied 29 cents after ending at $5 with 1,761 units crossing the exchange. Honey Bun dipped 35 cents to $6.45 with an exchange of 28,472 units, Indies Pharma rose 46 cents in closing at $3.53 with a transfer of 4,882,159 stock units, Iron Rock Insurance shed 26 cents to close at $2.01 trading 5,000 stocks. Jamaican Teas popped 18 cents to close at $2.28 in an exchange of 33,330 shares, JFP Ltd advanced 10 cents in closing at $1.95 with investors transferring 5,482,938 stock units, Knutsford Express increased $1.24 to end at $12.24 while exchanging 603,480 stocks. Lasco Distributors gained 23 cents to $2.60, with 634 units crossing the market, Lasco Manufacturing climbed 11 cents after ending at $4.45, with 22,214 shares clearing the market, Limners and Bards popped 34 cents to close at $2.59 in an exchange of 261,338 stock units. 
Paramount Trading shed 19 cents to close at $2.15 after 10,000 stocks were traded, Regency Petroleum rose 25 cents after ending at a record high of $2.44 with an exchange of 6,271,147 shares, Spur Tree Spices rallied 33 cents to $3.06 with 3,880,290 units changing hands. Stationery and Office Supplies advanced $1.25 in closing at $15.75 as investors exchanged 98,938 units and Tropical Battery gained 13 cents to close at $2.08 while exchanging 246,272 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big blast off for JSE Main & Junior Market
Investors pushed the Main and Junior Market into sharp gains to close out the first quarter of 2023 as the JSE USD market inched just higher at the close on Jamaica Stock Exchange on Friday, with big gains in the volume and value of stocks traded.
In the preference section of the Main Market that is not reflected in the TOP10 graphs, JPS 7 percent dropped $55.90 to $263.39 and JPS 9.5 percent jumped $98 to $2,998 and PBS 10.5% jumping $58 to $1,258.
At the close, investors exchanged 51,243,309 shares in all three markets, compared with 45,525,550 units on Thursday, with the value of trading on Friday amounting to $650.5 million, up sharply from $183.2 million on the previous trading day. Trading on the JSE USD market resulted in investors exchanging 1,234,958 shares for US$13,631 down from 1,608,959 units at US$20,097 on Thursday.
The JSE Combined Market Index jumped sharply by 5,958.64 points to 352,487.53, the All Jamaican Composite Index surges 6,292.04 points to end at 383,757.21, the JSE Main Index jumped 5,465.11 points to end at 340,535.88, the Junior Market surged 93.32 points to 3,795.21 and the JSE USD Market Index rose 0.26 points to close at 231.90.
The market’s PE ratio ended at 19 based on 2021-22 earnings and 12.5 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that also show the closing volume pertaining to the bids and offers for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Declining stocks crush risers on TTSE
Declining stocks crushed those rising on the Trinidad and Tobago Stock Exchange on Friday, after a big jump in the volume of stocks traded and a near doubling in value compared to Wednesday. The total volume dropped 69 percent below trading on Wednesday as the value slipped a mere four percent, resulting in 21 securities trading compared with 20 on Wednesday, with five stocks rising, nine declining and seven remaining unchanged.
Trading climbed to 454,057 shares for $7,929,953, compared with 1,467,927 units for $8,272,610 on Wednesday.
An average of 21,622 shares were traded at $377,617 versus 72,896 shares at $413,630 on Wednesday, with trading month to date averaging 23,611 shares at $241,670 marginally more than 23,716 shares at $234,460 on the previous day. The average trade for February amounts to 51,996 shares at $458,520.
The Composite Index fell 5.83 points to 1,312.35, the All T&T Index popped 2.10 points to 1,974.62, the SME Index ended at 61.52 and the Cross-Listed Index slipped 2.00 points to close at 84.49.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings closed trading of 5,740 shares at $24.50, Ansa McAl traded three shares after the price popped $1.20 to $52, Calypso Macro Index Fund slipped 1 cent to end at $20.75 after investors traded 1,143 units. First Citizens Group dipped 1 cent in ending at $50 with an exchange of 6,295 stocks, FirstCaribbean International Bank fell by 10 cents in ending at $7.15, with 1,523 stock units clearing the market. Guardian Holdings had an exchange of 2,001 shares after dropping 94 cents to close at $25.05, Guardian Media ended with an exchange of 4,080 units after dropping 10 cents to close at $2.20, GraceKennedy popped 2 cents in ending at $4.48 after an exchange of 3,400 units, JMMB Group lost 3 cents to close at a 52 weeks’ low of $1.67 with a transfer of 40,686 shares, Massy Holdings ended at $4.50 after an exchange of 56,239 stock units.
NCB Financial traded 12,505 shares and fell 25 cents to $3.50, National Enterprises had an exchange of 59,780 stocks in closing at $3.55 after a fall of 15 cents, National Flour rose 10 cents in trading 37 shares to $1.50. One Caribbean Media closed at $3.70, with 20 units changing hands, Prestige Holdings ended at $7.40 in switching ownership of 157 shares. Republic Financial closed at $138 after 23,150 shares crossed the market, Scotiabank ended at $77.95 while exchanging just six stock units, Trinidad and Tobago NGL had an exchange of 11,077 shares after slipping 1 cent to end at $20, Trinidad Cement traded 500 stock units in closing at $3.52, Unilever Caribbean ended trading at $14.79 after rising 4 cents with an exchange of 218,012 stocks and West Indian Tobacco added 20 cents to end at $16.75 after trading 7,703 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Bounce in trading on JSE USD Market
Investors traded 55 percent more stocks on the Jamaica Stock Exchange US dollar market on Thursday with a 7 percent contraction in value compared to Wednesday, resulting in trading in nine securities, compared to seven on Wednesday with four rising, one declining and four ending unchanged.
Overall, 1,608,959 shares were traded for US$20,097 compared with 1,034,911 units at US$21,566 on Wednesday.
Trading averaged 178,773 shares for US$2,233 compared to 147,844 shares at US$3,081 on Wednesday, with a month to date average of 170,526 shares at US$13,088 compared with 170,037 units at US$13,731 on the previous day. February ended with an average of 43,793 units for US$2,015.
The JSE USD Equities Index gained 2.26 points to end at 231.64.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.2. The PE ratio is computed based on the last traded price of each stock divided by ICInsider.com’s projected earnings by for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share fell 0.03 of a cent to close at 6.37 US cents, with 2,549 shares clearing the market, 
MPC Caribbean Clean Energy rose 3.17 cents in closing at 69.77 US cents with five stock units crossing the market, Productive Business Solutions remained at US$1.90 while two units passed through the market. Proven Investments climbed 0.5 of a cent to 18 US cents after the trading of 22,307 stocks, Sygnus Real Estate Finance USD share ended at 7 US cents with an exchange of 69 shares and Transjamaican Highway popped 0.03 of a cent to close at 1 US cent and closed with an exchange of 1,584,009 stocks.
In the preference segment, Productive Business 9.25% share rallied 90 cents to US$13, with 14 shares changing hands, Eppley 6% preference share remained at US$1.40 after just two stock units crossed the market and Equityline Mortgage Investment preference share ended at US$1.64 in an exchange of two units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Huge Main Market bounce as winners crush losers
Investors shifted gears and pushed stocks solidly higher on the penultimate day of the 2023 first quarter at the close of the Jamaica Stock Exchange Main Market on Thursday, with a 78 percent fall in the volume of stocks traded, after a 64 percent fall in value than on Wednesday, following trading in 60 securities compared to 56 on Wednesday, with prices of 30 rising, 13 declining and 17 ending unchanged.
A total of 13,390,755 shares were traded for $105,410,403 compared to 60,107,710 units at $290,707,932 on Wednesday.
Trading averaged 223,179 shares at $1,756,840 versus 1,073,352 shares at $5,191,213 on Wednesday and month to date, an average of 353,545 units at $2,691,945, compared with 360,213 units at $2,739,777 on the previous day. February closed with an average of 183,599 units at $2,160,070.
Transjamaican Highway led trading with 5.86 million shares for 43.8 percent of total volume followed by Wigton Windfarm with 1.92 million units for 14.3 percent of the day’s trade, Supreme Ventures with 1.15 million units for 8.6 percent share of the day’s trading and Sagicor Select Financial Fund with 1.01 million units for 7.6 percent market share.
The market indices surged, with the All Jamaican Composite Index popping 8,472.58 points to 377,465.17, the JSE Main Index climbing 8,348.24 points to 335,070.77 and the JSE Financial Index rallying 1.45 points to close at 77.60.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate ICInsider.com’s earnings forecasts for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments rose $1.17 to end at $81.20 with investors transferring 45,746 shares, Caribbean Cement climbed $5 to $56 as investors exchanged 15,391 units, Eppley Caribbean Property Fund increased $1.50 to close at $44.50 after a transfer of 4,453 stock units. First Rock Real Estate dipped $1.25 in closing at $10.74 after an exchange of 7,125 stocks, GraceKennedy climbed $2 to $82 with the swapping of 33,004 stock units, Guardian Holdings rallied $4 to $494, with 76 units clearing the market. Jamaica Broilers popped $1 after ending at $38 after an exchange of 453,507 stocks, Jamaica Producers lost 74 cents to close at $21 in switching ownership of 7,618 shares, 
Kingston Wharves advanced $1.10 in closing at $34 with an exchange of 22,177 stock units. Massy Holdings increased $8.11 to end at $89.11 in trading 1,002 stocks, NCB Financial shed 48 cents to $74.50, with 10,681 units crossing the market, Proven Investments gained 50 cents to end at $27 and closed with 3,803 shares changing hands. Sagicor Group advanced $3 after ending at $50 in trading 109,283 stocks, Scotia Group dropped 94 cents in closing at $34, with 124,974 shares changing hands, Seprod popped $3 to close at $70 while exchanging 24,463 units. Supreme Ventures rose $3.18 to end at $31 as 1,148,754 stock units passed through the market and Sygnus Real Estate Finance climbed 66 cents in closing at $9.96 in an exchange of 465 stocks.
In the preference segment, Jamaica Public Service 7% fell $43.39 in ending at $220, with 26 shares crossing the market, Jamaica Public Service 9.5% declined $98 to $2900 with a transfer of 2 stock units and Productive Business Solutions 9.75% preference share dropped $16.05 to close at $90.95 in an exchange of 62 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Surge in trading on Junior Market
Trading jumped sharply on the Junior Market of the Jamaica Stock Exchange on Thursday, with a 199 percent rise in the volume of stocks traded as the value surged 176 percent over Wednesday following trading in 42 securities compared with 45 on Wednesday and ended with prices of 21 rising, 17 declining and four closing unchanged.
Investors traded 30,528,396 shares for $77,798,162 up from 10,202,465 units at $28,165,787 on Wednesday.
Trading averaged 726,867 shares at $1,852,337, in contrast with 226,721 shares at $625,906 on Wednesday, with the month to date, averaging 505,086 units at $1,038,359 compared to 494,951 stock units at $1,001,159 on the previous day. February closed with an average of 318,024 units at $782,332.
Fosrich led trading with 16.34 million shares for 53.5 percent of total volume followed by Spur Tree Spices with 3.75 million units for 12.3 percent of the day’s trade, Regency Petroleum 2.79 million units for 9.2 percent of the day’s trade, Image Plus Consultants with 1.51 million units for 4.9 percent, JFP Ltd 1.40 million units for 4.6 percent of the market and Dolla Financial ended with 1.04 million units for 3.4 percent market share.
At the close, the Junior Market Index gained 23.51 points to 3,701.89.
The PE Ratio, a measure of computing appropriate stock values, averages 11.1. The PE ratios of Junior Market stocks are computed based on the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial gained $2.99 in closing at $25.19 in an exchange of 24,883 shares, Cargo Handlers lost 10 cents to end at $13.40 as investors exchanged 1,487 units, Caribbean Assurance Brokers fell 10 cents to close at $1.90 after trading 5,853 stock units. 
Derrimon Trading dipped 24 cents to close at a 52 weeks’ low of $1.81 after an exchange of 125,357 stocks, Dolphin Cove shed 30 cents after ending at $14.70 following an exchange of 6,316 stocks, Express Catering advanced 10 cents in closing at $5.10 with trading of 82,589 shares. Honey Bun rose 50 cents to $6.80 after a transfer of 28,453 stock units, Iron Rock Insurance climbed 18 cents to close at $2.27 after exchanging two units, ISP Finance rallied $5.55 to end at $25.55, with 4 stocks crossing the market. Jamaican Teas dropped 19 cents to $2.10 with a transfer of 606,002 shares, Knutsford Express declined 33 cents to close at $11, with 7,280 units crossing the market, Lasco Manufacturing increased 34 cents to $4.34 in an exchange of 44,885 stock units. Main Event declined 44 cents to $11.66 with 26,394 shares clearing the market, Regency Petroleum popped 10 cents after ending at $2.19 with investors transferring 2,794,741 stocks, Spur Tree Spices popped 23 cents to end 
at $2.73 after 3,751,342 units crossed the exchange. Stationery and Office Supplies gained 35 cents after ending at $14.50 after 35,010 stock units passed through the market and tTech advanced 55 cents to $2.55 in switching ownership of two stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market surges over 8,300 points
The Main Market surged more than 8,300 points on Jamaica Stock Exchange on Thursday, while the Junior and JSE USD inched higher at the close, with both volume and value lower than on Wednesday.
In the preference section of the market that is not reflected in the TOP10 graphs, JPS 7 percent dropped $43.39 to $220 and JPS 9.5 percent dived $98 to $2,900 and PBS 19.75% fell $16.05 to $90.95.
At the close, investors exchanged 45,525,550 shares in all three markets, compared with 71,333,661 units on Wednesday, with the value of trading on Thursday amounting to $183.2 million, down from $318.78 million on the previous trading day. Trading on the JSE USD market resulted in investors trading 1,608,959 shares for US$20,097 compared to 1,034,991 units at US$21,566 on Wednesday.
The JSE Combined Market Index jumped sharply by 7,994.08 points to 346,528.89, the All Jamaican Composite Index surged 8,472.58 points to 377,465.17, the JSE Main Index gained 8,348.24 points to 335,070.77, the Junior Market climbed 23.51 points to close at 3,701.89 and the JSE USD Market Index rose 2.26 points to close at 231.64.
The market’s PE ratio ended at 18.6 based on 2021-22 earnings and 12.2 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that also show the closing volume pertaining to the bids and offers for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
BOJ CD rate drop for a second week
Rates paid on Bank of Jamaica 30 days CDs dropped for a second week at the latest auction on Wednesday this week, to 8.49 percent from 8.85 percent on March 22.
The rate declined from 10.54 percent at the auction on March 17 after BOJ offered $18 billion, which attracted $57.86 billion on March 22. At this week’s auction, $35 billion was offered by the central bank and attracted $70 billion, resulting in the highest successful rate at 8.85 percent and the lowest at 7.5 percent, down from 8.2 percent the week before. BOJ absorbed $88.85 billion at the end of the CD auction, up from $81.85 billion the previous week but still down sharply from a peak at $109.5 on March 1.
The move brings the CD rates in line with Treasury bills, with an average rate for 90 days coming in at 8.21 percent on March 8.
