Main & Junior Markets fall on reduced trading

Trading dropped back on the Jamaica Stock Exchange gained on Monday, with the number of stocks exchanged rising to but with a lower value than on Friday, with the Main Market sliding and the Junior Market dropping sharply as the JSE USD market rose moderately, to start the week.
At the close of trading, the JSE Combined Market Index fell 1,296.25 points to 333,903.28, the All Jamaican Composite Index sank 2,854.05 points to end trading at 356,985.14, the JSE Main Index dropped 873.63 points to conclude trading at 321,365.17. The Junior Market Index lost 54.46 to end at 3,712.49 and the JSE USD Market Index fell 0.30 points to finish at 237.76.
At the close of trading, 25,106,007 shares were exchanged in all three markets, up from 23,346,054 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $52.28 million, down from $389.49 million on Friday and the JSE USD market closed with an exchange of 501,713 shares for US$12,814 compared to 30,414 units at US$3,460 on Friday.
Main Market trading was dominated by Wigton Windfarm led trading with 8.92 million shares followed by Transjamaican Highway with 2.37 million units, Sagicor Select Financial Fund closed with 1.70 million units and Ciboney Group with 1.35 million units.
In the Junior Market, One Great Studio led trading with 2.19 million shares followed by Fosrich with 1.25 million units and iCreate with 904,279 stock units.
At the close of the market, some of the major Main Market stocks that rose are First Rock Real Estate gained 99 cents to close at $7, MPC Caribbean Clean Energy rose $1 to end at $91, NCB Financial rallied $1.95 to $67.40 Seprod climbed $1.95 and ended at $85.95.
The major declining Main Market stocks include Caribbean Cement shed $1.40 in closing at $55.50, GraceKennedy skidded $1 to close at $78 while exchanging 104,553 units and Guardian Holdings dropped $9.49 in closing at $350.51.
On a day of limited price movement in the Junior Market, there were no stocks with a major higher, with the major losing stocks being ISP Finance down $3.41, Main Event with a loss of 60 cents and Caribbean Cream and Knutsford Express with a decline of 40 cents each.
In the preference segment, no stock traded with a notable price change.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.2 on 2022-23 earnings and 13.8 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 navigate numerous investment options successfully in the 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 quickly assess the value of stocks based on this measure. 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.