Jamaican stocks rally on Monday

Trading ended mixed on Monday, with the All Jamaican Composite Index jumping over 3,000 points and the Junior market hitting a new high since early March, but the JSE Main Index declined with Guardian Holding falling to a new low on the Jamaica Stock Exchange, while the JSE USD Market just edged higher at the close, on a day when the volume and value of stocks traded declined compared with that on Friday.
At the close, the JSE Combined Market Index climbed 1,449.05 points to 343,540.26, the All Jamaican Composite Index rallied 2,765.06 points to finish at 364,418.69, the JSE Main Index climbed 1,421.14 points to 329,373.77, the Junior Market Index advanced 13.44 points to settle at 3,955.91, while the JSE USD Market Index rallied 1.07 points to finish at 222.74.
Preference shares with notable price movements but not in the Main Market TOP10 graphs are Jamaica Public Service 7% dropping $2.28 in closing at $46.39 and 138 Student Living preference share down $7 to end at $81.
At the close, investors exchanged 22,226,900 shares in all three markets, up from 22,079,185 stocks on Friday. The value of stocks trading in the Junior and Main markets was $158.6 million, down from $235.7 million on Friday. Trading on the JSE USD market resulted in investors exchanging 261,038 shares for US$25,992 compared to 216,689 units at US$14,393 on Friday.
The market’s PE ratio ended at 18.6 on 2022-23 earnings and 12.5 times those for 2023-24 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 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.
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.