Pull back for JSE stocks as value surges

The Jamaica Stock Exchange Main Market suffered a big drop on Friday followed by the JSEUSD market on a day when the Junior Market also pulled back but moderately, resulting in the JSE Combined Index a measure of the overall market, sliding 3,292.13 points to 375,849.10 following Bank of Jamaica’s latest unnecessary interest rate hike of their overnight rate to 6 percent.            
The All Jamaican Composite Index dropped 2,420.51 points to 412,016.26, the JSE Main Index dived 3,211.91 points to 362,534.06, the Junior Market Index lost 32.13 points to end at 4,100.81 and the JSE USD market Index dropped 13.99 points to 200.31.
Sagicor Real Estate Fund led trading with 282.54 million shares for $2.359 billion on Friday with the overall market traded 300,277,014 shares changing hands with the value jumping to $2.5 billion, up from $1.389 billion, with 370,414,710 shares traded in the overall market on the prior trading day. The JSE USD market ended with the value of stocks traded at US$32,729 versus US$23,319 on the previous day of trading.
The market’s PE ratio ended at 23.2 based on 2021-22 earnings and 12.5 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many 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 investment decisions by 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. It 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 payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
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.