Junior Market flashes negative signal

The Jamaica Stock Exchange Junior Market fell Tuesday after posting a record intraday high of 4,669.78 in early trading but closed the day flashing negative signals after the volume of stocks traded declined 41 percent while the value fell 36 percent compared to Monday, with the Investor’s Choice bid-offer indicator showing only one stock ending with the bid higher than the last selling price while seven closed with lower offers.
Forty four securities trading compared to 45 on Monday and ended with 12 rising, 27 declining and five closing unchanged. Five stocks ended at 52 weeks’ closing high and one traded at an intraday low. The Junior Market Index declined 21.62 points to settle at 4,560.79.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.1. The PE ratios of Junior Market stocks are based on ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 22,692,843 shares traded for $99,354,256 ompared to 38,331,981 units at $155,216,877 on the Monday. Tropical Battery led trading with 5.42 million shares for 23.9 percent of total volume, followed by Jamaican Teas with 4.78 million units for 21.1 percent of the day’s trade, Spur Tree Spices with 2.35 million units for 10.4 percent market share, Lumber Depot with 1.68 million units for 7.4 percent market share, JFP Limited with 1.45 million units for 6.4 percent market share and Derrimon Trading with 1.24 million units for 5.5 percent market share.
Trading averaged 515,746 shares at $2,258,051, down from 851,822 shares at $3,449,264 on Monday with the month to date, averaging 498,537 units at $2,341,916 compared to 495,602 units at $2,356,219 on the previous trading day. April ended with an average of 449,923 units at $1,781,786.
At the close, Access Financial shed $1.02 in ending at $24.48 after exchanging 3,127 shares, Blue Power popped 85 cents to close at a 52 weeks’ high of $4.50 after trading 106,480 stock units, Cargo Handlers fell $1 to end at $13, with 4,292 stocks changing hands. Caribbean Assurance Brokers rallied 15 cents in closing at $2.60 after 6,879 units passed through the market, Caribbean Cream lost 14 cents to end at $5.20, trading 9,743 units, Caribbean Flavours dropped 10 cents in closing at $1.98 in trading 11,410 shares. Derrimon Trading gained 14 cents to close at a 52 weeks’ high of $3.35 in switching ownership of 1,241,187 stock units, Dolphin Cove declined 16 cents in ending at $22.34 after exchanging 175,705 stocks, EduFocal climbed 29 cents to a 52 weeks’ closing high of $4.09, with 1,049,957 units crossing the market. Fontana dropped 25 cents to $10.90 in an exchange of 432,337 stocks, Fosrich fell 91 cents to $34.50 in exchanging 475,464 stock units, Future Energy Source declined 19 cents to $7 with the swapping of 964,177 shares. GWest Corporation rose 22 cents to close at $1.27, with 44,313 shares clearing the market, iCreate popped $1.03 to end at 52 weeks’ closing high of $4.26 with an exchange of 978,543 units, Iron Rock Insurance shed 30 cents in closing at $3.20 after 142,929 stock units crossed the market. ISP Finance advanced 98 cents to $22.98 after 6,167 stocks crossed the exchange, Jamaican Teas lost 10 cents to end at $3.45 while exchanging 4,778,217 stocks after the price hit a 52 weeks’ intraday low of $3. KLE Group declined 20 cents to close at $2.15 after trading 1,493 stock units. Lasco Financial increased 11 cents to $3.40, trading 6,519 shares, Lumber Depot popped 14 cents to $3.39, trading 1,683,552 units, Main Event slipped 39 cents to $9.01 with the swapping of 743 shares. Medical Disposables shed 20 cents to close at $6.70, with 69,302 units changing hands, SSL Venture fell 10 cents to $1.70, with 10,000 stock units crossing the market, Stationery and Office Supplies dropped 10 cents to $9.20 in switching ownership of 77,539 stocks and Tropical Battery rallied 25 cents to $3.20 after exchanging 5,423,834 stock units.