JSE Main Market rally

The Jamaica Stock Exchange Main Market ended on Monday after a merger announcement by Pan Jam Investment and Jamaica Producers gained 18 percent and 24 percent respectively and helped push the market higher at the close after the volume of stocks traded jumped 40 percent higher than on Friday but with 5 percent fall in values from the trading in 55 securities compared to 49 on Friday, with 20 rising, 20 declining and 15 ending unchanged.
JMMB Group traded at an intraday 52 weeks’ low of $32.50, Key Insurance closed at a 52 weeks’ low of$3.15 and Kingston Wharves closed at a 52 weeks’ low of $30.
A total of 12,066,242 shares were tradeded for $67,419,300 compared with 8,629,483 units at $70,734,289 on Friday.
Trading averaged 219,386 units at $1,225,805 versus 176,112 shares at $1,443,557 on Friday and month to date, an average of 209,746 units at $1,522,176 versus 209,050 units at $1,543,568 on the previous trading day. October closed with an average of 231,243 units at $1,464,224.
Wigton Windfarm led trading with 6.55 million shares in accounting for 54.3 percent of total volume followed by Transjamaican Highway with 960,085 units for 8 percent of the day’s trade and Jamaica Producers with 883,329 units for 7.3 percent market share.
The All Jamaican Composite Index dropped 1,041.36 points to close at 379,341.61, the JSE Main Index rose 2,547.40 points to 337,924.43 and the JSE Financial Index climbed 1.28 points to 81.16.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 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 ending with bids higher than their last selling prices and nine with lower offers.
At the close, Caribbean Cement lost 99 cents to close at $57 with an exchange of 4,428 stock units, Eppley rose $1 to $35 with investors transferring 715 units, Eppley Caribbean Property Fund declined $8.87 in closing at $36.02 with a transfer of 39 stocks. Guardian Holdings popped $24.98 to $574.98 as investors exchanged 670 shares, Jamaica Producers rose $4.50 to $22.81 in trading 883,329 stocks, Kingston Properties gained $1.38 after ending at $6.91 with a transfer of 35,000 stock units. Kingston Wharves shed $4 to end at a 52 weeks’ low of $30 in exchange of 156,604 units, NCB Financial fell 97 cents in closing at $84 trading 114,161 stock units, Palace Amusement advanced $2.13 to close at $719.01 with the swapping of one unit. PanJam Investment climbed $9 to finish at $58 in switching ownership of 63,430 shares, Proven Investments dropped 50 cents to $25.50 with 10,785 stocks changing hands, Sagicor Group declined 60 cents to $48.60 after exchanging 21,029 stock units. Scotia Group lost 80 cents to end at $35 in transferring 8,573 shares, Seprod fell $1.45 to close at $68.55 with the swapping of 12,621 units, Stanley Motta dipped 54 cents to $4.46 with 3,787 stocks crossing the market. Supreme Ventures rallied $2.87 to $25.93 as investors switched ownership of 90,833 stock units, Sygnus Credit Investments USD share popped $1.72 to close at $18.96 with ten stocks changing hands. Sygnus Credit Investments dropped $1.39 to $12 with 59,342 units clearing the market and Wisynco Group advanced 45 cents to end at $18 in exchanging 44,656 shares.
In the preference segment, Jamaica Public Service 9.5% rallied $169.23 to $3,000 in an exchange of 4 stock units,  JMMB Group 7.25% preference share rose 40 cents in closing at $3.08 after 6,467 stocks cleared the market and Productive Business Solutions 10.5% preference share dropped $100 to $1,050 with a transfer of 260 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.