Big gains for Main Market stocks as Junior Market surges

Trading dropped sharply on the Jamaica Stock Exchange on Tuesday, with trading in less than 10 million shares compared to just over 14 million on Monday at a value that was a fraction of that on Monday’s and leading to a modest rise in the Main Market while the junior Market surged sharply from Monday’s close and the USD market closed marginally lower, but Main Market stocks dominated gainers with Eppley Caribbean Properties Fund jumping $3.50, Sagicor Group up $1.98, followed by NCB Financial $1.95, Jamaica Producers added $1, followed by Wisynco Group up $0.96 and Jamaica Stock Exchange $0.94. Stocks ending with notable declines are Guardian Holdings down $12.95, GraceKennedy down $3, followed by Seprod with a fall of $2.90.
At the close of trading, the JSE Combined Market Index popped 921.00 points to close at 324,400.11, the All Jamaican Composite Index slipped 63.64 points to end at 346,097.72, the JSE Main Index gained 477.68 points to close at 311,127.39. The Junior Market Index surged 54.04 points to settle at 3,723.71 and the JSE USD Market Index fell 1.83 points to 222.00.
Investors traded 9,863,787 shares, in all three markets, down from 14,395,216 units on Monday. The value of stocks traded on the Junior and Main markets amounts to a mere $36 million up from $104.42 million on Monday. The JSE USD market closed after 102,487 shares were traded for US$9,725 up sharply from 3,759 units at US$430 on Monday.
In the preference segment, Eppley 7.50% preference share dipped $1.40 and ended at $5.50 with investors transferring 920 stocks and Jamaica Public Service 7% climbed $6 to end at $46.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21 on 2022-23 earnings and 13.8 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
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 place them 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 net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.