JSE Main Market jumps for a second day

Trading on the Jamaica Stock Exchange Main Market bounced for a second consecutive day on Monday, with the volume of stocks traded rising 10 percent, valued 32 percent less than on Friday, with trading in 58 securities compared with 53 on Friday, with 24 rising, 20 declining and 14 ending unchanged.
The All Jamaican Composite Index advanced 2,765.06 points to end at 364,418.69, the JSE Main Index rose 1,421.14 points to 329,373.77 and the JSE Financial Index inched 0.18 points higher to 73.11.
A total of 15,466,316 shares were traded for $140,081,944 compared to 14,036,554 units at $205,125,008 on Friday.
Trading averaged 266,661 shares at $2,415,206 compared with 264,841 shares at $3,870,283 on Friday and month to date, an average of 345,216 units at $4,820,865, down from 349,982 units at $4,966,815 on the previous day. May closed with an average of 226,361 units at $1,362,447.
Wigton Windfarm led trading with 4.20 million shares for 27.2 percent of total volume, followed by Transjamaican Highway with 2.71 million units for 17.5 percent of the day’s trade, Supreme Ventures ended with 2.07 million units for 13.4 percent market share and QWI Investments with 1.03 million units for 6.7 percent of the overall volume.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator was slightly negative, with six stocks ending with bids higher than their last selling prices and eight with lower offers.
In trading, Caribbean Cement climbed $3.10 in closing at $54 after exchanging 65,065 shares, Caribbean Producers popped $2.51 to close at $12 with a transfer of 357,494 stocks, but buyers are mostly under $10 at the close and sellers at $12 and above. What that suggests is that selling pressure has dissipated. Eppley shed $6.50 to $30 and closed with an exchange of 9,577 units, Eppley Caribbean Property Fund increased $2.45 to end at $41 with 56 stock units crossing the exchange, First Rock Real Estate rallied 99 cents to $10.30 with 65 units clearing the market. GraceKennedy fell 50 cents to close at $76.50 in switching ownership of 43,356 stock units, Jamaica Broilers gained $2.30 in closing at $37.30 with an exchange of 358,896 stocks, Jamaica Producers declined 50 cents to $20 after investors ended up trading 24,031 shares. Jamaica Stock Exchange advanced 64 cents to $12.09 after a transfer of 13,139 stock units, JMMB Group rose $2.46 to end at $31.46 in an exchange of 553,620 stocks, Kingston Properties climbed 57 cents to close at $7.70 while exchanging 109,567 units. Kingston Wharves rose $1.15 in closing at $29.95 as 7,155 shares passed through the market, Margaritaville dropped $3.71 and ended at $14.60 with investors trading 24 stocks, Massy Holdings dipped $1 to $101, with 395 stock units crossing the market. Pan Jamaica popped $2.28 to end at $50.28 as investors exchanged 10,292 units, Portland JSX rose $1.25 in closing at $11 in an exchange of 30,000 shares. Proven Investments gained 50 cents to $25.80 with stakeholders exchanging 51,318 shares, Scotia Group rallied $1.35 to end at $34 after an exchange of 160,437 stocks, Supreme Ventures lost 50 cents in ending at $26, with 2,067,664 units crossing the market and Sygnus Credit Investments increased $1.80 to close at $14.40 changing hands 772,349 stock units.
In the preference segment, Jamaica Public Service 7% dropped $2.28 in closing at $46.39 while trading 1,283 stocks, JMMB Group 7% preference share fell 30 cents to $1.70 with shareholders swapping 21,434 shares and 138 Student Living preference share lost $7 to end at $81 after 41 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.