Main Markets gains in thin trading, juniors slip

Trading hit a distressing low point on the Jamaica Stock Exchange on Friday, with the Junior and JSE USD market slipping back as the Main Market climbed appreciably to close out the week positively but with the overall trading down sharply after just $32 million of shares changed hands as Carib Cement rose $2, NCB Financial gained $1.80, Kingston Wharves up $1.49 and AS Bryden up $1.14, while Seprod dropped $1.70 and Scotia Group fell $1.52 helped to negate some of the gains.
At the close of trading, the JSE Combined Market Index climbed 2,826.48 points to close at 325,204.82, the All Jamaican Composite Index popped 2,477.78 points to finish at 346,872.54, the JSE Main Index rose 3,128.14 points to close at 312,199.59. The Junior Market Index dipped 12.27 points to finish at 3,700.76 and the JSE USD Market Index shed 0.42 points to finish at 230.61.
Investors traded 10,953,060 shares, in all three markets, down from 14,894,359 units on Thursday. The value of stocks traded on the Junior and Main markets amounts to a mere $31.8 million versus $144.79 million on Thursday. The JSE USD market closed after 57,458 shares were traded, for US$3,210 compared to 134,274 units at US$39,564 on Thursday.
In the preference segment, Jamaica Public Service 7% dropped $6.50 in closing at $39.50.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.6 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.
Pertinent information is essential for the successful navigation of the numerous investment options in stock markets. 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.