Main Market’s weak start to 2023

The strong rally in the last two weeks of December carried over into the new year on the Main Market of the Jamaica Stock Exchange on Tuesday, but at a sedate level following 95 percent less the stocks trading with 96 percent less value than on Friday, after trading in 62 securities compared to 60 on Friday, with 15 rising, 30 declining and 17 ending unchanged.
A total of 8,252,097 shares were exchanged for $67,129,016 versus 182,913,713 units with a value of  $1,549,169,032 on Friday.
Trading averages 133,098 units at $1,082,726, compared to 3,048,562 shares at $25,819,484 on Friday. December closed with an average of 604,110 units at $4,072,598.
Transjamaican Highway was the lead trade, with 4.08 million shares for 49.4 percent of total volume followed by Pulse Investments with 986,612 units for 12 percent of the day’s trade and Sagicor Group with 569,539 units for 6.9 percent market share.
The All Jamaican Composite Index rallied 1,269.06 points to 404,349.42, the JSE Main Index climbed 342.34 points to 356,238.98 and the JSE Financial Index rose 0.04 points to settle at 85.92.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.4 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 nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments lost $3.49 to end at $99.02 in exchanging 5,385 shares, Eppley shed $4.53 after ending at $34 with an exchange of 277 units, Eppley Caribbean Property Fund fell $2.78 to close at $47.22 after a transfer of 7,299 stocks. First Rock Real Estate dipped 99 cents to $13 in an exchange of 11,451 stock units, GraceKennedy declined $1 in closing at $83 after 25,261 shares passed through the market, Guardian Holdings dropped $1 in closing at $569 in an exchange of 103 units. Jamaica Producers fell 98 cents to end at $21.92 while exchanging 2,552 stock units, JMMB Group ost $1.50 to close at $32.50 in trading 39,397 stocks, Kingston Properties dipped 75 cents to $7.75 in trading 7,741 stock units. Massy Holdings declined 49 cents to $79.50 with 2,324 shares crossing the market, Mayberry Investments shed $1.35 in closing at $8.70, with 47,687 units changing hands, MPC Caribbean Clean Energy dropped $6 to end at $75 after an exchange of 498 stocks. Palace Amusement rose $100 to close at a 52 weeks’ high of $1599 as investors exchanged 656 units, Portland JSX declined 45 cents in ending at $10.55 after an exchange of 10 stocks, Sagicor Group dropped $4 to end at $55 with 569,539 shares crossing the market. Sagicor Real Estate Fund rallied $1.03 in closing at 52 weeks’ high of $9.53 with investors transferring 25,279 stock units, Seprod shed $8 to close at $70 with 5,354 shares clearing the market, Stanley Motta dipped $1.28 to end at $4.02 in switching ownership of 118,860 stocks. Sterling Investments gained 49 cents in ending at $3.44 after 54,045 stock units changed hands, Supreme Ventures fell $2.50 to $27.50 with the swapping of 26,450 units, Sygnus Real Estate Finance fell 48 cents ending at $9.52 trading 5,106 stock units and Wisynco Group declined 49 cents to $17.50 with a transfer of 128,774 units.
In the preference segment, Productive Business Solutions 9.75% preference share climbed $13 to end at $120, with one share crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.