JSE shares tumble to open October

The Markets gave back quite a lot of Friday’s headed gains as trading commenced for October with the Junior Market to the JSE Main Market indices declining sharply but the JSE USD Market Index rose.
At close, the JSE Combined Market Index shed 3,243.01 points to close trading at 338,145.95, the All Jamaican Composite Index dropped 3,568.87 points to finish at 352,223.23, the JSE Main Index fell 2,970.48 points to settle at 324,071.95, the Junior Market Index dived 51.88 points to end trading at 3,907.46 after Fosrich and Fesco dropped back from the late close surge in price on Friday and the JSE USD Market Index shed 2.50 points to settle at 256.33.
At the close, investors traded 25,939,993 shares in all three markets, down sharply from 50,931,729 stock units on Friday. The value of stocks traded on the Junior and Main markets amounted to $118.24 million, down from $256.86 million on Friday. Trading on the JSE USD market ended with investors exchanging 266,503 shares for US$6,378compared with 2,780,944 units at US$60,312 on Friday.
In the preference segment, Productive Business Solutions 10.5% preference share advanced $1 to end at $1,215.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 21 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
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 place them 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 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.