Stocks fall to close out week

All three markets closed the week on a negative note on Friday in trading on the Jamaica Stock Exchange, with almost 68 percent more stocks traded compared with Thursday with 62 percent more funds entering the market, resulting in the JSE USD market declining, four consecutive days as the Junior Market slipped below the 3,900 points mark and the Main Market suffered quadruple digit declines as the volume and the value of stocks trading declined compared with those on Thursday.
At close, the JSE Combined Market Index plunged 3,774.54 points to conclude trading at 326,221.77, the All Jamaican Composite Index shed 1,604.69 points to end at 346,217.24, the JSE Main Index dropped 3,898.33 points to end at 311,499.58. The Junior Market Index gained 4.83 points to end trading at 3,889.52 and the JSE USD Market Index dipped again by 6.28 points to conclude trading at 224.32.
Investors traded 17,117,345 shares in all markets, down from 21,058,075 stock units on Thursday. The value of stocks traded rose on the Junior and Main markets to $66.9 million, downtown from $71.26 million on Thursday. The JSE USD market ended with 390,785 shares being traded, for US$54,548 compared to 281,542 units at US$6,866 on Thursday.
In the preference segment, Jamaica Public Service 7% skidded $7.98 to $42.02 and Jamaica Public Service 9.5% dropped $1 to end at $2,899.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 23.1 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
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 place them 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 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.