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.