Rebounding main market

Investors were more aggressive in trading on the Jamaica Stock Exchange Main Market on Friday, following the commencement of refunding of monies previously tied up in the recent ONEonONE IPO. Buying interest resulted in 97 percent more shares trading with 166 percent higher value than on Thursday, sending the prices of 32 stocks higher, 12 lower and 13 unchanged as 57 securities were swapped compared to 58 on Thursday.  
The All Jamaican Composite Index rallied 2,977.43 points to end at 412,677.51, the JSE Main Index climbed 1,783.83 points to finish at 362,545.21 and the JSE Financial Index rose 0.71 points to close at 87.15.
The PE Ratio, a formula used in the computation of appropriate stock values, averages 14 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on ICInsider.com’s forecasted earnings for companies with the financial year ending between November and August 2023.
A total of 17,038,158 shares were traded for $174,268,763 up from 8,634,954 units at $65,465,672 on Thursday. Trading averages 298,915 units at $3,057,347, versus 148,879 shares at $1,128,718 on Thursday and month to date, an average of 788,281 units at $4,934,777, compared to 816,008 units at $5,041,153 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Portland JSX led trading with 7.0 million shares for 41.1 percent of total volume, followed by Transjamaican Highway with 3.47 million units for 20.4 percent of the day’s trade, Wigton Windfarm with 2.32 million units for 13.6 percent market share and Pulse Investments with 1.41 million units for 8.3 percent market share.
The 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, Caribbean Cement advanced $3 to close at $60 after a transfer of 14,069 shares, Eppley rallied $1 to $41 in switching ownership of 1,058 units, GraceKennedy shed $1.01 in closing at $94.99 in trading 137,648 stock units. Guardian Holdings rose $10 to $530 after the trading of 5,101 stocks, Jamaica Broilers climbed 50 cents to $29 in exchanging 31,400 stocks, Jamaica Stock Exchange popped $1.13 to close at $16.20 with 5,823 units changing hands. JMMB Group gained $1.20 in closing at $41.50 after 940,974 shares crossed the exchange, Kingston Wharves increased 35 cents to end at $37.85 while exchanging 21,670 stock units, Massy Holdings rose $12.50 to $86.50 in exchanging 50,536 units. MPC Caribbean Clean Energy increased $2.49 after ending at $84.49 and trading 56 stocks, NCB Financial dropped $1.90 in closing at $91 with investors transferring 55,661 stock units, Palace Amusement lost $34.99 to end at $700, with 52 shares clearing the market. PanJam Investment declined $2.99 in ending at $59.01 in an exchange of 9,854 shares, Portland JSX popped $1.50 to end at $12 after 7,000,330 stock units changed hands, Sagicor Group rallied $4.48 to close at $54.50, with 9,118 units changing hands. Salada Foods advanced 57 cents to close at $5.32 with the swapping of 22,969 stocks, Seprod dipped 38 cents to $69.02 with a transfer of 5,517 units and Supreme Ventures fell $1.20 in closing at $28.80 as investors exchanged 32,579 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.