Sharp rebound for JSE Main Market

Market activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded declining 43 percent with 12 percent less value than Wednesday as 58 securities were exchanged compared to 52 on Wednesday, with 24 rising, 18 falling and 16 remaining unchanged.
Investors exchanged 8,634,954 shares for $65,465,672 versus 15,124,626 units at $74,624,156 on Wednesday. Trading averaged 148,879 units at $1,128,718 versus 290,858 shares at $1,435,080 on Wednesday and month to date, an average of 816,008 units at $5,041,153, compared to 856,824 units at $5,280,521 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Wigton Windfarm led trading with 4.36 million shares for 50.5 percent of total volume, followed by Transjamaican Highway with 960,791 units for 11.1 percent of the day’s trade and Supreme Ventures traded 786,773 units for 9.1 percent market share.
The All Jamaican Composite Index popped 5,021.15 points to 409,700.08, the JSE Main Index climbed 7,542.39 points to s 360,761.38 and the JSE Financial Index rallied 0.98 points to settle at 86.44.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with their financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Producers declined 50 cents in closing at $13, with 37,948 shares crossing the market, Eppley Caribbean Property Fund increased $4.99 to end at $44.99 in swapping of six units, GraceKennedy rallied $2 to $96, with 4,758 stocks crossing the exchange. Guardian Holdings fell $37.46 to  $520, closed at 29 stock units, Jamaica Producers gained 85 cents ending at $20.98 after a transfer of 6,447 stock units, Jamaica Stock Exchange lost 93 cents to close at $15.07 as investors exchanged 13,509 stocks. JMMB Group shed 95 cents to end at $40.30 with a transfer of 164,695 shares, Kingston Properties popped 40 cents to $7.40 with 1,954 units clearing the market, Kingston Wharves climbed $3.38 in closing at $37.50 in trading 3,443 stock units. Margaritaville dipped 45 cents in ending at $27.55, with four units crossing the market, Massy Holdings dropped $1 to a 52 weeks’ low of $74 after exchanging 2,077 stocks, Mayberry Investments advanced 65 cents to end at $9.90 in trading 13,575 shares. MPC Caribbean Clean Energy rose $16.22 to $82, with 13 stock units changing hands, NCB Financial increased 40 cents to $92.90 with investors transferring 40,434 units, 138 Student Living rose $1.04 to close at $6.95 after exchanging 507,024 shares. Palace Amusement climbed $44.99 in closing at $734.99 in trading 45 stocks, PanJam Investment popped $2 to close at $62 in switching ownership of 6,805 stocks, Portland JSX shed 40 cents to end at $10.50 in an exchange of 158 shares. Proven Investments gained $1.50 after finishing at $33 while exchanging 5,206 units, Seprod advanced 40 cents to $69.40 with an exchange of 115 stock units, Stanley Motta rallied 69 cents to close at $5.29 in trading 3,000 stock units. Supreme Ventures increased 50 cents to end at $30 after exchanging 786,773 shares, Sygnus Credit Investments advanced 40 cents to $13.50, with 23,180 units crossing the market and Sygnus Real Estate Finance climbed $1.14 in closing at $10.94 after trading ten stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.