Main Market rallies but ends 2022 down

Trading picked up sharply on the Jamaica Stock Exchange Main Market on Friday to close out the year on a positive note, with the volume of stocks traded surging 1,574 percent as the value jumped 1,552 percent over trading levels on Thursday and helping the market to put in one of the most bullish two days for the year, but that could not prevent the market from falling lower than it opened the year. 
At the close, 60 securities traded compared to 58 on Thursday, with 28 rising, 16 declining and 16 ending unchanged and resulting in an exchange of 182,913,713 shares valued at $1,549,169,032 versus 10,927,858 units at $93,761,610 on Thursday, with Kingston Properties chipping in with 136 million shares carrying a value of $1.05 billion.
The All Jamaican Composite Index popped 8,864.59 points to settle at 403,080.36, to add 18,791 points in just two days but ended the year down 8 percent, the JSE Main Index popped 4,672.83 points to 355,896.64, with gains of 10,764 point over the past two days and a 10.2 percent fall for the year, while  the JSE Financial Index rallied 0.92 points to settle at 85.88 and is down 12.4 percent for the year.
Trading averaged 3,048,562 shares at $25,819,484, up from 188,411 units at $1,615,711 on Thursday and month to date, an average of 604,110 units at $4,071,008, compared with  467,038 stocks at $2,851,468 on the previous day. November closed with an average of 202,406 units at $1,736,493.
Kingston Properties led trading with 136.04 million shares for 74.4 percent of total volume, followed by Wigton Windfarm with 33.49 million units for 18.3 percent of the day’s trade. Barita Investments ended trading with 2.56 million units for 1.4 percent of the market trade, Radio Jamaica with 2.02 million units for 1.1 percent share of the market, Transjamaican Highway with 1.44 million units for 0.8 percent of trading and Sagicor Group with 1.17 million units for 0.6 percent market share.
The PE Ratio, a formula to ascertain appropriate stock values, averages 15.3 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments rose $2.51 to close at $102.51 with the swapping of 2,560,121 shares, Berger Paints gained $1.40 in closing at $10.60 after exchanging two stock units, Caribbean Cement gained $1.99 to $61.99 while exchanging 187,977 units. Eppley declined $1.45 to end at $38.53, with  140 stocks crossing the market, Eppley Caribbean Property Fund climbed $3.42 to $50, with a transfer of 317,335 stocks, GraceKennedy rallied $2 in closing at $84 with an exchange of 129,287 stock units. Guardian Holdings shed $65 to end at $570, with 406 shares crossing the exchange, Jamaica Producers popped 90 cents to $22.90 in an exchange of 42,592 units, Kingston Properties advanced $1.45 in ending at $8.50, with 136,036,412 shares clearing the market. Kingston Wharves climbed $3.66 to close at $3, with 161,557 units changing hands, Mayberry Investments popped $1.21 to close at $10.05 with investors exchanging 236,867 stocks, Mayberry Jamaican Equities dipped 47 cents in closing at $13.51 as 30,300 stock units passed through the market. MPC Caribbean Clean Energy lost $2 to end at $81 after trading 164 units, Palace Amusement advanced $2 to $1499 in trading 1,198 stock units, Portland JSX rallied 90 cents to $11 as investors exchanged 12,027 stocks. Proven Investments rose 85 cents to $27 and closed with 511 shares changing hands, Radio Jamaica gained 50 cents in ending at $2.60 in an exchange of 2,016,480 units, Sagicor Group increased $6 in closing at $59 after a transfer of 1,170,151 stock units. Sagicor Real Estate Fund rose 60 cents to end at $8.50, with 230,043 stocks crossing the market, Seprod advanced $8 to close at $78 with a transfer of 217,964 shares, Stanley Motta gained $1.29 in ending at $5.30 after trading 142,927 shares and Wisynco Group rose 49 cents to close at $17.99 in switching ownership of 189,234 stock units.
In the preference segment, Jamaica Public Service 9.5% rallied $40 to end at $3000 after just one share crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.