Junior Market drops

Five stocks declined for every two that rose in trading on the Junior Market of the Jamaica Stock Exchange on Tuesday and resulting in a fall in the market index with 46 securities trading, compared with 43 on Friday and ended with 26 declining, 11 rising and nine closing unchanged as the volume of stocks traded declined 92 percent, with a 92 percent lower value than Friday.
Investors traded 4,491,437 shares for $10,456,683 compared to 55,529,342 units at $124,157,944 on Friday.
Trading averaged 97,640 shares at $227,319 compared to 1,291,380 shares at $2,887,394 on Friday with the month to date, averaging 284,858 units at $662,589 compared to 305,363 stock units at $710,261 on the previous trading day. September closed with an average of 220,239 units at $459,425.
Image Plus led trading with 995,005 shares for 22.2 percent of total volume following the release of second quarter results that showed a sharp fall in earnings from $64 million before tax in 2022 to just $39 million for the second quarter as revenues declined, due to machine breakdown. ONE on ONE Educational followed with 440,186 units for 9.8 percent of the day’s trade and One Great Studio with 311,171 units for 6.9 percent market share.
At the close, the Junior Market Index fell 29.80 points to 3,885.12, but the Investor’s Choice bid-offer indicator is flashing positive signals for trading on Wednesday.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and one with a lower offer.
The Junior Market ended trading with an average PE Ratio of 10.5, based on the last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
At the close, Access Financial shed 27 cents to close at $29.38 after an exchange of 996 shares, Blue Power skidded 23 cents to end at $2.70, with 1,700 units crossing the market, Caribbean Assurance Brokers declined 47 cents and ended at $2.56 after just 2,500 stock units changed hands, Everything Fresh slipped 18 cents to $1.40 with a transfer of 8,290 stocks. Fontana dropped 20 cents in closing at $11.50 in an exchange of 150,469 stock units, GWest Corporation dipped 8 cents to end at 90 cents with 1,128 stocks clearing the market, Honey Bun popped 9 cents to close at $6.69 in trading 32,257 shares, Indies Pharma climbed 15 cents to $3.11 with investors transferring 1,700 units. ISP Finance rallied $2.20 and ended at $32.20 as investors exchanged 675 stock units, Jamaican Teas fell 10 cents in closing at $2.50 with stakeholders trading 23,148 stocks, KLE Group declined 17 cents and ended at $1.50 with investors dealing in 237 units, Knutsford Express shed 19 cents to $12.50 as 2,917 shares passed through the market. Lasco Distributors rose 10 cents to close at $4.26, with 56,524 stocks crossing the market, Main Event increased $1.39 to end at $15.50, with 9,768 units crossing the exchange, MFS Capital Partners fell 12 cents in closing at $1.97 with shareholders swapping 278,236 shares. Paramount Trading dipped 26 cents in closing at $1.50 after investors traded 26,454 stock units following the release of first quarter results that show revenues falling and profit declining to $54 million from $84 million in 2022. Stationery and Office Supplies gained 15 cents to close at $1.86 in switching ownership of 303,433 stocks and tTech dropped 51 cents and ended at a 52 weeks’ low of $1.68 in an exchange of 102,487 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.