Junior Market rises but JSE Main Market drops

Trading dropped sharply on the Jamaica Stock Exchange on Wednesday with only 67 percent of stocks traded compared with trading on Tuesday with the value plunging by 70 percent, resulting in the JSE USD market declining moderately and the Junior Market rising to sit just below the 3,900 points level as the Main Markets dropped to close of trading.
At close, the JSE Combined Market Index dropped 2,479.44 points to 327,190.17, while the All Jamaican Composite Index declined 3,302.43 points to close at 344,152.91, the JSE Main Index fell 2,782.98 points to 312,443.39 as solid gains in Sagicor Group, Jamaica Broilers and NCB Financial could not overcome the effects of the big fall in the prices of Seprod, Kingston Wharves and GraceKennedy weighted down on the Main Market. The Junior Market Index gained 13.95 points to end trading at 3,899.07 and the JSE USD Market Index dipped 1.50 points to conclude trading at 231.48.
Investors exchanged 12,549,714 shares in all three markets, down from 18,664,384 stock units on Tuesday. The value of stocks traded dropped on the Junior and Main markets amounting to $44.1 million, down from $145.29 million on Tuesday. Trading on the JSE USD market ended with investors exchanging 34,722 shares for US$2,213 compared to 91,370 units at US$3,137 on Tuesday.
In the preference segment, Jamaica Public Service 7% rallied $8 to $50, Jamaica Public Service 9.5% climbed $10 to end at $2,900 and Productive Business Solutions 9.75% preference share jumped $21.75 and ended at $120.75.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.5 on 2022-23 earnings and 10.9 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily 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.