Stocks surged in closing out 2023

All three markets of the Jamaica Stock Exchange rose on Friday following b gains on Thursday with trading exceeding Thursday’s levels as rising prices overwhelmed those declining on the final day of the year but that was powerful enough to erase declines in the market for the year.
At the close of trading 107,792,193 shares, were traded in all three markets, up from 65,137,916 units on Wednesday.
The value of stocks traded on the Junior and Main markets totalled $952.3 million, up from $857.26 billion on Thursday. The JSE USD market closed after 367,867 shares were traded, for US$23,662 compared to 31,154 units at US$662 on Thursday.
Main Market trading was dominated by Wigton Windfarm with 25.03 million shares being exchanged by investors, followed by NCB Financial with 8.03 million units, Radio Jamaica contributed 7.49 million units, Sagicor Group with 1.64 million shares, Barita Investments closed with 1.34 million units and Transjamaican Highway with 1.30 million shares.
In the Junior Market, Tropical Battery led trading with 21.15 million shares, followed by Future Energywith 10.21 million units, Regency Petroleum with 4.69 million shares, EduFocal 2.96 million units , Image Plus traded 2.89 million shares and Fosrich with 2.25 million units.
At the close of the market, Main Market stocks rallying were Barita Investments climbing $5.98, Sagicor Group up $3.52, Eppley Caribbean Property rising $3.10, Caribbean Cement with a gain of $3.04, AS Bryden rising $3.01, NCB Financial up $2.49 and Seprod climbing $2.01.
Declining Main Market stocks were Guardian Holdings down $23 and Eppley with a fall of $2.10.
Rising Junior Market stocks include Knutsford Express up $1.25 and Dolphin Cove up $1.
At the close of trading, the JSE Combined Market Index jumped 4,534.94 points to close at 339,158.12, the All Jamaican Composite Index jumped 6,563.17 points higher to 367,017.85, the JSE Main Index popped 4,228.16 points to 325,699
The Junior Market Index surged 65.03 points to 3,848.33, off by 3.5 percent for the year and the JSE USD Market Index rose 6.84 points to 231.19.
In the preference segment, Eppley 7.75% preference share rose $3 to $22 and 138 Student Living preference share advanced $33.10 in closing at $130.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.6 on 2022-23 earnings and 15 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 navigate numerous investment options successfully in the 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 quickly assess the value of stocks based on this measure. 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.