Profit taking for SOS as JSE trading rises

Profit taking cooled the flight of Stationery and Office Supplies, with the price falling to the day’s low of $29.77 but closing down at $33.89, as investors traded just under 400,000 shares as the Junior and Main Markets closed lower and the JSE USD Market closed moderately higher.
At the close, the JSE Combined Market Index gave back 1,996.90 points to end at 339,436.72, the All Jamaican Composite Index shed 993.11 points to end at 361,607.86, the JSE Main Index fell 1,951.96 points to 325,358.09, the Junior Market Index dropped  19.18 points to 3,916.95, while the JSE USD Market Index popped 0.08 points to 222.07.
Preference shares with notable price movements but are not in the Main Market TOP10 graphs are Jamaica Public Service 7% declined $8.80 to $56 and Productive Business Solutions 9.75% preference share shed $1.99 to close at $90.01.
At the close, investors exchanged 30,664,504 shares in all three markets, up from 18,247,148 shares on Wednesday. The value of stocks trading in the Junior and Main markets was $246 million, down from $147.3 million on Wednesday. Trading on the JSE USD market resulted in investors exchanging 77,890 shares for US$1,414 compared to 393,412 units at US$6,625 on Wednesday.
The market’s PE ratio ended at 18.5 on 2022-23 earnings and 12.3 times those for 2023-24 at the close of trading. 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 put in 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 ICInsider.com PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
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.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.