Junior Market pulls back from record high

Trading closed on the Jamaica Stock Exchange Junior Market on Tuesday, with the volume of stocks traded diving by 59 percent and the value dipping 61 percent lower than on Monday, leading the market into a decline after 43 securities were traded, similar to trading on Tuesday and ended with 14 rising, 23 declining and six closing unchanged.
The Junior Market Index dropped 33.11 points to  4,452.22 after reaching a record intraday high of 4,543.70 within an hour of opening.
The PE Ratio, a measure of computing appropriate stock values, averages 14. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 13,201,837 shares traded for $72,767,087 up from 31,884,375 units at $188,460,185 on the Monday. Spur Tree Spices led trading with 2.42 million shares for 18.3 percent of total volume, followed by Future Energy Source with 2.33 million units for 17.7 percent of the day’s trade, Elite Diagnostic with 1.90 million units for 14.4 percent market share and Derrimon Trading with 1.05 million units for 7.9 percent market share.
Trading averaged 307,019 shares at $1,692,258 in contrast to 741,497 shares at $4,382,795 on Monday with month to date, averaging 524,258 units at $3,037,526 compared to Monday trades. April closed with an average of 449,923 units at $1,781,786.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Blue Power advanced 26 cents in closing at $3.85, with 6,369 shares clearing the market, CAC 2000 increased 65 cents to close at $6.75 after exchanging 65 stock units, Dolphin Cove fell 60 cents to $21.40 in trading 48,298 units. Elite Diagnostic climbed 30 cents in ending at $3.90 after trading 1,902,202 stocks, Fontana fell 75 cents to end at $10.50 with 127,121 stocks changing hands, Fosrich rose $1.37 in closing at a 52 weeks’ high of $34.97 after an exchange of 575,546 units. Future Energy Source gained 28 cents to end at $6.78, with 2,333,516 shares changing hands, Honey Bun lost 20 cents to close at $9.27 in switching ownership of 15,379 stock units, iCreate shed 24 cents after ending at $3.24 trading 319,360 stock units. Iron Rock Insurance dropped 30 cents to $3.30 in exchanging 140 stocks, ISP Finance fell $7.49 to close at $22 with the swapping of 941 units, KLE Group lost 65 cents to end at $1.95 after trading 5,054 shares. Knutsford Express declined 10 cents to $7.90 in an exchange of 59,645 shares, Lasco Manufacturing shed 48 cents in ending at $5.10, with 57,949 stock units crossing the market, Mailpac Group rallied 13 cents in closing at $3.17 with an exchange of 137,725 units. Main Event dropped 87 cents in closing at $9 while exchanging 61,254 stocks, Medical Disposables declined 79 cents to close at $6 after 574,571 shares crossed the exchange, Spur Tree Spices fell 27 cents to end at $3.80 in exchanging 2,417,836 stocks. Stationery and Office Supplies lost $1.25 to close at $8.25, with 16,626 stock units changing hands and tTech popped 16 cents ending at $3.95 in trading 34,234 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.