Trading activity pushed the Junior Market Index solidly higher with a rise of 72.97 points to 3,986.25 on Thursday and just about wiped out the previous losses for the year to date as the index is a mere 0.19 points adrift of the 2022 closing of the Junior Market of the Jamaica Stock Exchange, with trading in 48 securities up from 42 on Wednesday and ended with 23 rising, 17 declining and eight closing unchanged.
The volume of stocks traded fell 68 percent to 3,805,407 shares from 11,745,381 units on Wednesday and exchanged for a 68 percent lower sum of $9,248,824 compared to $29,354,951 previously.
Trading averaged 79,279 shares at $192,684 against 279,652 units at $698,927 on Wednesday with the month to date, averaging 167,073 units at $431,251 compared to 180,494 stock units at $467,720 on the previous day. December closed with an average of 333,420 units at $925,533.
JFP Ltd led trading with 1.10 million shares for 28.8 percent of total volume followed by ONE on ONE Educational with 669,061 units for 17.6 percent of the day’s trade and Tropical Battery with 350,520 units for 9.2 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.9. The PE ratios of 
Junior Market stocks incorporate ICInsider.com projected earnings for the financial year ending that fall between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial rose 76 cents to end at $24.95 with an exchange of 15 shares, Blue Power popped 46 cents in closing at $2.98 with investors transferring 48 units, Caribbean Assurance Brokers gained 14 cents to end at $2.15 in trading 18,774 stock units. Caribbean Cream shed 59 cents ending at $4.01 after an exchange of 5,274 stocks, Caribbean Flavours popped 12 cents to close at $1.82 with a transfer of 3,835 stock units, Dolphin Cove fell 10 cents to $14.79 with the swapping of 6,506 units. 
EduFocal declined 24 cents to $2.25 after a transfer of 7,347 stocks, Express Catering lost 25 cents in closing at $5 as investors exchanged 11,771 shares, Fosrich shed 23 cents in ending at $3.68 after trading 328,617 stocks. General Accident rallied 46 cents to close at $5.07 after 307 shares passed through the market, Honey Bun rose 40 cents to $7.60 with the swapping of 1,125 units, Indies Pharma dipped 14 cents to $2.66 in exchanging 17,868 stock units. Iron Rock Insurance gained 22 cents in closing at $2.62 after investors transferred 170 shares, ISP Finance advanced $4.48 to $29.50 in switching ownership of 5,070 stock units, Knutsford Express rose 35 cents to close at $9.80 after clearing the market with 47,534 units, ahead of the release of half year results to November, reflecting a continued recovery in profit. 
Lasco Financial lost 15 cents to end at $2.70 in an exchange of 19,101 stocks, MFS Capital Partners dipped 17 cents to $2.83 in swapping 57,142 stock units, Stationery and Office Supplies declined $1.78 to end at $14.21 trading 4,914 units and tTech gained 26 cents to close at $2.92 in exchanging 4,563 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market gains on low volume
Rising stocks impacted the Jamaica Stock Exchange Main Market positively on Thursday, with the major market indices gaining even as the volume of stocks traded declined 17 percent from Wednesday’s level, and valued 63 percent less after trading in 58 securities, up from 54 on Wednesday, and ended with prices of 19 rising, 22 declining and 17 ending unchanged.
A total of 8,211,791 shares were exchanged for $46,473,139, down from 9,841,967 units at $126,164,786 on Wednesday.
Trading averaged 141,583 units at $801,261 compared with 182,259 shares at $2,336,385 on Wednesday and month to date, an average of 150,524 units at $1,318,558 versus 151,804 units at $1,392,640 previously. December closed with an average of 604,110 units at $4,072,598.
Wigton Windfarm led trading with 2.14 million shares for 26.1 percent of total volume, followed by JMMB Group 7.35% – 2028 with 1.40 million units for 17.1 percent of the day’s trade, Transjamaican Highway with 1.14 million units for 13.9 percent of trading, Sagicor Select Financial Fund with 1.13 million units for 13.8 percent share of the day’s trade and Caribbean Producers with 1.02 million units for 12.4 percent market share.
The All Jamaican Composite Index climbed 2,760.22 points to 389,643.62, the JSE Main Index rose 2,168.78 points to 343,253.10 and the JSE Financial Index popped 0.37 points to 82.24.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.1 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 and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments declined $3.84 to $90 with an exchange of 1,946 shares, Caribbean Producers gained 57 cents to end at $11.69 with 1,021,075 units crossing the market, GraceKennedy rose $1.29 to $81.25 in transferring 5,520 stocks. Jamaica Broilers shed 99 cents to end at $30 as investors exchanged 6,576 stock units, Jamaica Stock Exchange popped $1 to close at $15.50 in switching ownership of 11 units, JMMB Group lost 49 cents to finish at $32.95 after an exchange of 73,893 stock units. 
Kingston Wharves climbed $3.39 to $34.45 with a transfer of 432 shares, Margaritaville rallied $1.45 to $21 in the swapping of 404 stocks, Mayberry Investments fell 65 cents to $8.25 after 12,577 stocks cleared the market. Mayberry Jamaican Equities fell 51 cents to $13 with 4,704 stock units changing hands, MPC Caribbean Clean Energy shed 95 cents in closing at $83, trading 238 units, Palace Amusement climbed $72.39 to a 52 weeks’ high of $1,902.39 after a transfer of 305 shares. Sagicor Group gained 49 cents to end at $51.49, trading 5,138 stocks, Scotia Group rose $1.99 to $34 in an exchange of 343,004 shares, Seprod fell 53 cents to $67.45 after 3,703 stock units passed through the market. Stanley Motta rallied 50 cents to $5 with investors transferring 54,322 units and Supreme Ventures advanced 85 cents to $28 with 4,006 shares changing hands.
In the preference segment, Productive Business 10.50% preference share popped $12.01 in closing at $1,012.01 after switching ownership of 100 stock units, 
Eppley 5% preference share fell $1.90 to end at $23 in an exchange of 5 stocks, JMMB Group 7% preference share shed 67 cents to close at $2.22 with the swapping of 5,891 units and 138 Student Living preference share advanced $4.95 to $69.95 after exchanging 37 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Losses for Junior Market stocks
The market Index dropped 46.69 points to 3,913.28 at the close of trading on the Junior Market of the Jamaica Stock Exchange Wednesday after declining stocks beat out those rising by a solid margin, following a 44 percent jump in the volume of stocks traded after the value climbed 31 percent over 
Tuesday following trading activity took place in 42 securities versus 46 on Tuesday and ended with prices of 15 rising, 23 declining and four unchanged.
A total of 11,745,381 shares were traded for $29,354,951 compared to 8,136,775 units at $22,350,006 on Tuesday.
Trading averaged 279,652 shares at $698,927 compared with 176,886 units at $485,870 on Tuesday, with a month to date average of 180,494 units at $467,720 versus 165,183 stock units at $432,019 on the previous day. December closed with an average of 333,420 units at $925,533.
Consolidated Bakeries led trading with 2.88 million shares for 24.5 percent of total volume followed by 
MFS Capital Partners with 1.23 million units for 10.5 percent of the day’s trade, JFP Ltd ended with 1.19 million stocks for 10.1 percent of trading, Fosrich with 1.04 million units for 8.8 percent of the market and Lasco Distributors with 1.01 million units for 8.6 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for the financial year ending that fall between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial advanced $2.18 to $24.19 with a transfer of 2,063 shares, AMG Packaging lost 10 cents in closing at $3.20 in exchanging 45,510 units, Blue Power shed 47 cents to end at $2.52 with 2,696 stock units crossing the exchange. 
Cargo Handlers rallied $2.25 to $13.80 trading 15,225 stocks, Caribbean Assurance Brokers gained 11 cents to close at $2.01 after transferring 21,525 shares, Derrimon Trading popped 11 cents in closing at $2.21 with an exchange of 83,388 units. Dolphin Cove advanced $1.40 to close at $14.89 in switching ownership of 27,468 stock units, EduFocal rose 26 cents to finish at $2.49 as investors swapped 505,110 stocks, Fontana lost 10 cents to end at $8.90 trading 78,999 shares. Honey Bun dipped 57 cents to $7.20 with 6,881 stock units changing hands, iCreate lost 13 cents to close at $1.71 with investors transferring 195,374 units, Indies Pharma shed 19 cents to $2.80 in switching ownership of 39,084 stocks. Lasco Distributors dipped 17 cents to end at $2.63, with 1,005,283 stocks crossing the market, Lasco Manufacturing shed 30 cents in ending at $4 after 86,092 stock units were exchanged, Main Event popped 70 cents in closing at $9.30 after a transfer of 49,183 shares. 
MFS Capital Partners lost 14 cents to end at $3 after an exchange of 1,233,975 units, Paramount Trading gained 28 cents in ending at $1.98 after a mere one stock unit changed hands, Stationery and Office Supplies advanced 84 cents to $15.99 with 114 stock units clearing the market and tTech rallied 35 cents to close at $2.66 with the swapping of 187 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picked up on the JSE Main Market
The volume of stocks traded on the Jamaica Stock Exchange Main Market on Wednesday rose 18 percent and the value jumped 259 percent higher than on Tuesday, from trading in 54 securities compared to 55 on Tuesday, with 17 rising, 24 declining and 13 ending unchanged.
The All Jamaican Composite Index dropped 3,634.92 points to 386,883.40, the JSE Main Index declined 2,841.02 points to 341,084.32 and the JSE Financial Index shed 0.31 points to settle at 81.87.
A total of 9,841,967 shares were traded for $126,164,786 versus 8,360,004 units at $35,173,992 on Tuesday.
Trading averaged 182,259 shares at $2,336,385 versus 152,000 shares at $639,527 on Tuesday and month to date, an average of 151,804 units at $1,392,640 versus 147,119 units at $1,247,448 on the previous day. December closed with an average of 604,110 units at $4,072,598.
Jamaica Broilers led trading with 3.27 million shares for 33.2 percent of total volume, followed by Wigton Windfarm with 2.65 million units for 26.9 percent of the day’s trade and Transjamaican 
Highway with 1.92 million units for 19.5 percent market share.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.1 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 seven stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Caribbean Producers shed 65 cents in closing at $11 with a transfer of 80,830 shares, Eppley climbed $6.11 to $40.99 after 155 stocks passed through the market, Eppley Caribbean Property Fund declined $10 to $40, trading 4,063 stock units. First Rock Real Estate fell $1.09 to close at $12 with an exchange of 11,203 units, GraceKennedy dropped $4.04 to $79.96, with 14,408 stocks clearing the market, 
Jamaica Producers popped $1.98 to $21.98 as investors traded 12,321 stock units. Jamaica Stock Exchange shed 98 cents to end at $14.50 with investors transferring 23,485 units, JMMB Group rallied 64 cents to $33.44 with 40,018 shares changing hands, Kingston Wharves declined $4.38 to close at $31.06 in swapping 3,345 units. Margaritaville advanced $2.93 to $19.55 after a transfer of 28,413 shares, Massy Holdings rose 95 cents in closing at $79.95 with the swapping of 945 stock units, Mayberry Investments gained 60 cents to end at $8.90, trading 503 stocks. Palace Amusement jumped $225 to close at a 52 weeks’ high of $1,830 in transferring 805 units, Proven Investments shed $2.40 in ending at $30 with 8,029 stocks changing hands, Scotia Group dipped $1.89 to $32.01 in trading 113,116 shares. 
Seprod advanced $1.98 to $67.98 in switching ownership of 1,733 stock units and Sygnus Credit Investments lost 65 cents in closing at $12.85 after exchanging 53,468 shares.
In the preference segment, Eppley 7.25% preference share dropped $2 to close at $20 after trading 2,480 units and Eppley 7.75% preference share lost 79 cents to finish at a 52 weeks’ low of $19.21 after an exchange of 200 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dropped Tuesday on Main Market
Trading volume declined on Tuesday for a second consecutive day on the Jamaica Stock Exchange Main Market with the volume of stocks traded declining 20 percent and the value 36 percent lower than on Monday, as 55 securities were traded compared to 60 on Monday, with prices of 27 rising, 16 declining and 12 ending unchanged.
A total of 8,360,004 shares were traded for a mere $35,173,992 compared with 10,386,916 units at $54,644,130 on Monday.
Trading averaged 152,000 units at $639,527 compared to 173,115 shares at $910,736 on Monday and month to date, an average of 147,119 stocks at $1,247,448 compared with 146,212 units at $1,360,406 on the previous day. December closed with an average of 604,110 units at $4,072,598.
Wigton Windfarm led trading with 3.29 million shares for 39.3 percent of total volume followed by Sagicor Select Financial Fund with 2.09 million units for 25 percent of the day’s trade and Transjamaican Highway with 1.36 million units for 16.2 percent of market share.
The All Jamaican Composite Index popped 397.74 points to 390,518.32, the JSE Main Index advanced 417.79 points to 343,925.34 and the JSE Financial Index dipped 0.30 points to close at 82.18.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.3 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 and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments shed $2.28 in ending at $94 with 2,972 shares crossing the exchange, Caribbean Cement declined 58 cents to $62.90 with a transfer of 1,166 units, Caribbean Producers rose 83 cents to $11.77 after trading 42,013 stocks.Eppley Caribbean Property Fund rallied 50 cents to close at $50 with an exchange of two stock units, GraceKennedy advanced $2.50 to $84 as investors swapped 26,554 stock units, Guardian Holdings climbed $3.01 to $508.01 after an exchange of 50 stocks. Jamaica Broilers gained 50 cents to close at $31 with investors transferring 7,991 units, 
Jamaica Producers fell $2.73 to $20 with the swapping of 31,927 shares, Jamaica Stock Exchange advanced 93 cents to $15.48 in trading 1,400 shares. Kingston Wharves popped $5.19 to end at $35.44 with 1,801 units clearing the market, Massy Holdings dipped $1 to close at $79 after trading 120,708 stocks, NCB Financial rose 70 cents to $80 after 14,668 stock units cleared the market. Palace Amusement fell $40 to close at $1,605 in an exchange of 46 units, PanJam Investment shed 46 cents to end at $62.54 with a transfer of 19,265 stocks, Portland JSX lost 50 cents in closing at $10 after 1,003 stock units crossed the market. Proven Investments popped $2.40 to $32.40 in switching ownership of 17,118 shares and Scotia Group rose 80 cents to $33.90 in exchanging 107,362 stocks.
In the preference segment, Jamaica Public Service 9.5% advanced $1 in closing at $3,000 after investors transferred 44 shares. 
JMMB Group 7% preference share rallied 43 cents to $2.89 after an exchange of 7,336 stock units, 138 Student Living preference share advanced $6.35 to close at $65 as investors exchanged 25 units and Productive Business Solutions 9.75% preference share climbed $13 in closing at $120 in trading 404 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market makes big jump
The Junior Market of the Jamaica Stock Exchange made a solid gain on Tuesday that almost brought it back on level terms with the yearend close following a 43 percent rise in the volume of stocks traded after the value passing through the market jumped 66 percent over Monday trades with trading taking place in 46 securities versus 47 on Monday and ended with 20 rising, 18 declining and eight closing unchanged.
A total of 8,136,775 shares were traded for $22,350,006, up from 5,698,340 units at $13,425,978 on Monday.
Trading averaged 176,886 shares at $485,870 compared to 121,241 units at $285,659 on Monday with the month to date averaging 165,183 units at $432,019 compared to 162,801 stock units at $421,058. December closed with an average of 333,420 units at $925,533.
MFS Capital Partners led trading with 2.23 million shares for 27.4 percent of total volume followed by Dolla Financial with 1.24 million units for 15.3 percent of the day’s trade and Regency Petroleum with 868,173 units for 10.7 percent market share.
At the close, the Junior Market Index jumped 56.12 points to close at 3,959.97.
The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for the financial year ending that fall between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, AMG Packaging gained 42 cents ending at $3.30 in trading 31,975 shares, Caribbean Assurance Brokers lost 26 cents to close at $1.90 with the swapping of 301,331 stock units, Caribbean Cream popped 66 cents to close at $4.65 as investors exchanged 42,188 stocks. 
Consolidated Bakeries lost 28 cents to finish at $1.96 in transferring 70,490 units, EduFocal rose 13 cents to $2.23 after an exchange of 199,042 stock units, Fontana popped 15 cents to end at $9 with investors transferring 26,731 stocks. Future Energy Source gained 10 cents in closing at $5 after trading 153,501 units, Honey Bun rose 57 cents to $7.77 with a transfer of 1,466 shares, iCreate rallied 14 cents to end at $1.84 with the swapping of 171,714 shares. ISP Finance jumped $7 to $25 in switching ownership of 19,364 units, Jamaican Teas popped 11 cents to $2.63 trading 118,793 stocks, Mailpac Group dipped 12 cents to t $2.03 after 23,735 stock units passed through the market. Main Event rallied 15 cents in closing at $8.60 in exchanging 4,530 shares, Medical Disposables gained 59 cents to finish at $5.23 with 368 units changing hands, MFS Capital Partners advanced 25 cents to $3.14 in exchanging 2,230,775 stocks. 
ONE on ONE Educational dropped 9 cents to $1.25 after clearing the market with 448,728 stock units, Paramount Trading shed 10 cents to close at $1.70 in switching ownership of 5,012 stocks and Regency Petroleum rose 8 cents in closing at $1.58 trading 868,173 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Plunge for JSE Main Market
Stocks traded sharply down on the Jamaica Stock Exchange Main Market on Monday with a dip in the volume of stocks traded at 73 percent lesser value than on Friday, after trading in 60 securities down from 56 on Friday, ending with 21 rising, 27 declining and 12 unchanged.
A total of 10,386,916 shares were traded for $54,644,130 versus 11,174,825 units at $201,235,785 on Friday.
Trading averaged 173,115 shares at $910,736 down from 199,550 shares at $3,593,496 on Friday and trading month to date averaged 146,212 units at $1,360,406 compared to 139,372 units at $1,474,729 on the previous day. December closed with an average of 604,110 units at $4,072,598.
Transjamaican Highway led trading with 4.73 million shares for 45.5 percent of total volume followed by Pulse Investments with 2.05 million units for 19.7 percent of the day’s trade and Sagicor Select Financial Fund with 960,501 units for 9.2 percent market share.
The All Jamaican Composite Index plunged 5,923.29 points to 390,120.58, the JSE 
Main Index dropped 4,673.08 points to 343,507.55 and the JSE Financial Index declined 0.43 points to close at 82.48.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.4 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 and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments declined $1.36 to close at $96.28 after an exchange of 4,332 shares, Caribbean Producers shed 91 cents to end at $10.94 after trading 52,746 units, Eppley fell $6.11 to $34.88 after a transfer of 42 stock units. Eppley Caribbean Property Fund dipped 49 cents in closing at $49.50 with 112 stocks changing hands, First Rock Real Estate popped $1 to $13.03 in switching ownership of 525 stocks, 
Guardian Holdings dropped $19.50 to $505 with investors transferring 337 units. Jamaica Broilers rose 89 cents to $30.50 with 6,023 shares clearing the market, JMMB Group fell 40 cents to $32.60 trading 20,395 stock units, Kingston Wharves fell $4.35 to end at $30.25 in switching ownership of 137,494 stocks.NCB Financial shed 70 cents in closing at $79.30 in exchanging 55,225 units, Palace Amusement climbed $55 to $1,645 with 292 shares passing through the market, Portland JSX advanced $1.50 to $10.50 after a transfer of 218 stock units. Sagicor Group declined 65 cents to $51 in exchanging 10,698 stock units, Scotia Group lost 90 cents to close at $33.10 as investors swapped 46,782 shares, Seprod shed $2.90 in ending at $66 with a transfer of 3,584 units. Stanley Motta fell 50 cents to finish at $4.50 in trading 2,010 stocks, Supreme Ventures lost 49 cents to close at $27.01 after transferring 105,284 shares, Sygnus Credit Investments advanced 65 cents to end at $13.50 with an exchange of 10,368 stock units and Sygnus Real Estate Finance gained 50 cents to close at $9.90 with the swapping of 836 units.
In the preference segment, JMMB Group 7% preference share fell 44 cents to $2.46 in trading 71 stocks and Productive Business Solutions 9.75% preference share dropped $13 in closing at $107 with the swapping of 187 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading slips Monday
Junior Market trading closed on the Jamaica Stock Exchange Monday with a slight dip in the volume of stocks traded after a 17 percent fall in the value compared with Friday from 47 the trading of securities up from 43 on Friday and ending with prices of 18 rising, 19 declining and 10 closing unchanged.
A total of 5,698,340 shares were traded for $13,425,978 versus 5,955,194 units at $16,230,602 on Friday.
Trading averaged 121,241 shares at $285,659 versus 138,493 units at $377,456 on Friday with the month to date averaging 162,801 units at $421,058 compared to 173,713 stock units at $456,610. Trading in December ended with an average of 333,420 units at $925,533.
JFP Ltd led trading with 1.35 million shares for 23.7 percent of total volume followed by ONE on ONE Educational with 759,824 units for 13.3 percent of the day’s trade and Tropical Battery with 668,478 units for 11.7 percent market share.
At the close, the Junior Market Index advanced a mere 3.07 points to 3,903.85.
The PE Ratio, a measure of computing appropriate stock values, averages 12.6. The PE ratios of the Junior Market incorporate ICInsider.com projected earnings for the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial dipped $3 to $22 in exchange of 74 shares, AMG Packaging lost 17 cents after ending at $2.88 with a transfer of 1,266 stocks, Cargo Handlers shed $1.04 in closing at $11.55 after the trading of 503 units. Consolidated Bakeries gained 24 cents to end at $2.24 with the swapping of 17,597 stock units, 
Derrimon Trading lost 22 cents to close at $2.12 with 183,574 stock units changing hands, Dolphin Cove declined 57 cents to finish at $13.53 in switching ownership of 12,796 shares. EduFocal lost 10 cents to end at $2.10 in transferring 1,172 stocks, Fosrich gained 9 cents to close at $3.90 with the swapping of 255,068 units,General Accident fell 31 cents to $4.60 with investors switching ownership of 34,050 stock units. Honey Bun declined 31 cents to $7.20 after 9,398 shares passed through the market, iCreate dipped 18 cents to $1.70 with 228,400 units crossing the market, Indies Pharma shed 20 cents in closing at $3 after trading 18,144 stocks. ISP Finance gained 51 cents in ending at $18 after an exchange of 2,570 units, Knutsford Express rallied 49 cents to finish at $9.44 with 8,373 shares changing hands, Lasco Distributors rose 17 cents to close at $2.80 as investors exchanged 55,844 stock units. Lasco Manufacturing popped 32 cents to $4.29 with the transfer of 567 stocks, Main Event fell 55 cents to $8.45 trading 12,425 shares, Medical Disposables dropped 64 cents to end at $4.64 after exchanging 61 units. MFS Capital Partners gained 9 cents to close at $2.89 with the swapping of 241,252 stocks, ONE on ONE Educational popped 9 cents to $1.34 in an exchange of 759,824 stock units, Paramount Trading gained 27 cents in closing at $1.80 with a transfer of 8,021 shares. 
Spur Tree Spices dipped 7 cents to $3.02 in transferring 60,697 units, Stationery and Office Supplies dropped 85 cents to end at $15.15 with 2,672 stocks changing hands and tTech lost 45 cents to close at $2.30 after an exchange of 160 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Watch interest rates steer stocks forward
It does not take much to determine the future of the stock market, the direction of interest rates tells it all, well, almost, but profits cannot be ignored. The accompanying chart suggests that the Bank of Jamaica’s recent hikes in interest rates won’t last much longer, a fact that stock market investors need to ponder early in 2023.
While the Bank of Jamaica only recently pushed their Overnight rate to 7 percent, Interest rates on Treasury bills may have peaked as far back as April 2022, with the 182 days’ Treasury bill rate averaging 8.46 percent in the April auction and moderated slightly downwards since, an indication that the market determined rates were at or close to the peak.
Bank of Jamaica moved their overnight interest rates charged to banks from 0.50 percent in September 2021 to 7 percent in November last year, a measure implemented mainly to tame inflation. Inflation has cooled sharply from the high in 2021 and is on the way down. The foreign exchange market buoyancy resulted in some appreciation of the Jamaican dollar, while the NIR seems to have risen to record levels for an end of year close.
The attached chart shows investors tending to react belatedly in response to interest rate movements. Profit ultimately is the primary long term driver of stock values. If interest rates are falling and so are profits, stock prices are unlikely to increase in the short run, the reverse is true. It is, therefore, not surprising that many companies listed on the Junior Market that enjoyed a substantial increase in profits registered good gains in stock prices in 2022, with seven gaining between 100 percent and 312 percent and 8 gaining 50 to 99 percent even as the Junior Market index rose only 16.3 percent for the year, while 21 Main Market stocks gained between 2 and 82 percent for the year, following a 10.2 percent decline in the JSE Main Index and 8 percent for the All Jamaica Composite Index. In all, 22 stocks gained more than the market average. Although not spectacular, the movement in the market was vastly better than the increase in Treasury bill interest rates, which jumped 89 percent above the 4.33 percent rate at the end of December 2021.
Investors can look forward to a fall in rates in 2023 as inflation moderates substantially and falls within BOJ’s 4-6 percent target during 2023. That development will likely be more impactful for Junior Market stocks that will enjoy a higher profit increase than those in the Main Market.
Gains for JSE Main Market
Trading picked up sharply on the Jamaica Stock Exchange Main Market on Friday, with an 84 percent increase in the volume of stocks traded with an 818 percent more value than Thursday, with 56 securities trading down from 60 on Thursday, with 18 rising, 22 declining and 16 ending unchanged.
The All Jamaican Composite Index jumped 3,559.20 points to 396,043.87, the JSE Main Index climbed 2,768.71 points to 348,180.63 and the JSE Financial Index popped 0.93 points to settle at 82.91.
A total of 11,174,825 shares were traded for $201,235,785 compared to 6,062,724 units at $21,930,574 on Thursday.
Trading averaged 199,550 shares at $3,593,496, up from 101,045 stocks at $365,510 on Thursday and month to date, an average of 139,372 units at $1,474,729 compared to 120,650 units at $815,557 on the previous day. December closed with an average of 604,110 units at $4,072,598.
Transjamaican Highway led trading with 6.36 million shares for 57 percent of total volume, followed by PanJam Investment with 1.07 million units for 9.6 percent of the day’s trade, Massy Holdings with 1.05 million units for 9.4 percent market share and Wisynco Group with 1.04 million units for 9.3 percent market share.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.4 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 and August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Eppley gained 99 cents to close at $40.99 with an exchange of 1,110 shares, GraceKennedy lost 60 cents in closing at $81.40 after an exchange of 15,302 stocks, Guardian Holdings increased $2.50 to $524.50, with 199 units changing hands. Jamaica Broilers declined $1.39 to end at $29.61 with the swapping of 24,396 stock units, Kingston Wharves rose 55 cents to $34.60 with 4,215 stock units clearing the market, Massy Holdings advanced $1.50 to end at $80 and finishing with 1,054,501 units passing over the exchange.
Palace Amusement shed $90 in ending at $1590 with investors trading 431 stocks, PanJam Investment rallied $6 to $63 with 1,072,233 shares crossing the market, Proven Investments climbed $2.01 in closing at $30 in an exchange of 170,085 stocks. Sagicor Group dropped $3.15 to close at $51.65 after exchanging 9,594 shares, Scotia Group fell 40 cents in ending at $34 in trading 1,236 units, Stanley Motta popped 90 cents to end at $5 as investors exchanged 198 stock units. Supreme Ventures dipped $2.37 in closing at $27.50 after 32,697 shares crossed the market and Sygnus Real Estate Finance fell 60 cents to close at $9.40, trading 11,699 stocks.
In the preference segment, Eppley 5% preference share increased $2.25 to $24.73 with five units passing through the market and Eppley 7.25% preference share gained $4.80 to end at $22 after an exchange of 200 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
