The Jamaica Stock Exchange Main Market slipped at the end of trading on Tuesday, with the volume of stocks traded rising 16 percent and the value plunging 56 percent compared to that on Monday, resulting in trading in 56 securities compared with 61 on Monday, with prices of 19 rising, 20 declining and 17 ending unchanged.
A total of 12,623,404 shares were traded for $40,299,945 compared with 10,928,473 units at $91,325,752 on Monday.
Trading averaged 225,418 shares at $719,642 versus 179,155 shares at $1,497,143 on Monday and month to date, an average of 447,521 units at $2,019,495, compared with 474,443 units at $2,177,053 on the previous day. July closed with an average of 283,368 units at $2,135,482.
Wigton Windfarm led trading with 5.55 million shares for 44 percent of stocks traded, Transjamaican was next with 5.14 million units for 40.7 percent of the day’s trade and Carreras with 339,919 units for 2.7 percent market share.
The All Jamaican Composite Index dropped 612.08 points to 353,837.05, the JSE Main Index lost 846.13 points to finish at 321,405.80 and the JSE Financial Index inched 0.03 points higher to 70.85.
The PE Ratio, a formula used to compute appropriate stock values, averages 13 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments rose 50 cents and ended at $74.80 after 33,834 shares passed through the market, GraceKennedy rallied 80 cents to close at $77.30 in an exchange of 14,006 units, Jamaica Producers fell 80 cents to end at $19.20 after investors traded 10,785 stock units. Jamaica Stock Exchange popped 84 cents in closing at $10.79 with stakeholders exchanging 20,578 stocks, JMMB Group advanced 40 cents to $27.91, with 42,495 shares crossing the exchange,
Margaritaville lost $2.47 to $14.03 while exchanging 250 stock units. Massy Holdings dipped 95 cents in closing at $100.25 in switching ownership of 716 stocks, MPC Caribbean Clean Energy dropped $12.29 and ended at $69.66 in trading 50 units, NCB Financial rallied $1 to end at $71 in an exchange of 94,546 stock units. Pan Jamaica gained $2.19 to close at $47.20 after an exchange of 120 units, Pulse Investments climbed 32 cents to $2.82 and closed with 173,001 stocks clearing the exchange. Sagicor Group shed 89 cents and ended at $44.10 after an exchange of 6,438 shares, Seprod popped 62 cents to close at $69.92 with an exchange of 3,366 stock units, Sygnus Credit Investments declined 53 cents in closing at $11.47 with investors transferring 20,526 units and
Wisynco Group dropped 75 cents to end at $16.90 after a transfer of 27,934 stocks
In the preference segment, Jamaica Public Service 7% climbed $15 to end at $65, with 50 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market rally but falling stocks dominate
Stocks rose following an increase in the level of trading activity on the Jamaica Stock Exchange Main Market on Monday, leading to trading in 61 securities compared with 58 on Friday, with the prices of just stocks 14 rising, 31 declining and 16 ending unchanged with the volume of stocks traded rising 42 percent and the value 71 percent more than on Friday with the prices of three stocks closing at 52 weeks’ low and one trading at an intraday 52 weeks’ low.
Trading picked up with 10,928,473 shares being traded for $91,325,752 compared with 7,673,086 units at $53,319,630 on Friday.
Trading averaged 179,155 shares at $1,497,143 versus 132,295 units at $919,304 on Friday and month to date, an average of 474,443 units at $2,177,053 compared to 519,362 stocks at $2,280,480 on the previous trading day. Trading in July closed with an average of 283,368 units at $2,135,482.
Transjamaican Highway led trading with 3.15 million shares for 28.9 percent of the volume, followed by Wigton Windfarm, with 2.24 million units for 20.5 percent of the day’s trade and QWI Investments ended with 1.19 million units for 10.9 percent of trading.
The All Jamaican Composite Index rallied 822.60 points to close at 354,449.13, the JSE Main Index gained 1,017.76 points to close at 322,251.93 and the JSE Financial Index advanced 0.35 points to finish at 70.82.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.1 for the Main Market. The Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments dropped 68 cents to close at $74.30, with 158,792 shares passing through the market, Caribbean Cement fell $1.63 and ended at $50.12 after it closed with an exchange of 70,834 stocks, Eppley gained 99 cents to end trading of 3 units at $35.99. GraceKennedy dipped $1 to end at $76.50, with 327,657 stock units crossing the market, Guardian Holdings rallied $19.75 in closing at $439.75 with investors transferring just 9 stock units, Jamaica Stock Exchange fell 5 cents to end at a 52 weeks’ low of $9.95 in trading 33,985 shares, JMMB Group shed 49 cents in closing at $27.51 in switching ownership of 14,491 stocks. Massy Holdings declined $1.80 and ended at $101.20 with an exchange of 1,084 shares, 
Pan Jamaica lost $1.49 to end at a 52 weeks’ low of $45.01 after an exchange of 374,708 units, Pulse Investments rose 25 cents to close at $2.50, but only after hitting an intraday 52 weeks’ low of $2 with an exchange of 927,882 shares, Portland JSX dipped $1.29 to $9.50, with 20,001 shares changing hand., Radio Jamaica fell to 7 cents to close at a 52 weeks’ low of $148 and traded 527,202 shares, following release of first quarter results showing flat revenues and a modest decline in its loss for the June quarter. Seprod lost 70 cents to close at $69.30 with 2,789 stock units clearing the market and Stanley Motta dropped 34 cents and ended at $4.51 after 9,489 stocks crossed the market.
In the preference segment, Eppley 5% preference share advanced $1.03 to $22 in an exchange of 677 units, 
Jamaica Public Service 7% shed $2 in closing at $50 in trading 1,993 shares and 138 Student Living preference share climbed $6.50 to end at $99.98 with shareholders swapping a mere one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big fall for Junior Market, Main Market gains
The Junior Market of the Jamaica Stock Exchange plunged on Monday but the JSE USD Market inched higher at the close while the Main market recorded gains to start off the week positively, following a jump in both volume and value of stocks trading on the exchange.
At the close, the JSE Combined Market Index rose 377.13 points to close at 335,952.31, the All Jamaican Composite Index rallied 822.60 points to close at 354,449.13, the JSE Main Index rallied 1,017.76 points to close at 322,251.93, the Junior Market Index dived 62.33 points to 3,853.92, while the JSE USD Market Index popped 2.18 points to close at 244.58.
Preference share trading ended with notable price changes for Eppley 5% preference share advanced $1.03 to $22, Jamaica Public Service 7% shed $2 in closing at $50 and 138 Student Living preference share climbed $6.50 to end at $99.98.
At the close, investors dealt in 20,682,647 shares, in all three markets, up from 12,495,973 stocks on Friday. The value of stocks traded on the Junior and Main Markets ended at $109.34 million, up sharply from $64.3 million on Friday. Trading on the JSE USD market ended with investors exchanging 155,440 shares for US$5,637, compared with 118,609 units at US$17,580 on Friday.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 17.4 on 2022-23 earnings and 11.6 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped by industry, allowing for easy comparisons between them 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.
Declining stocks top ICTOP10
Only one ICTOP10 Junior Market stock rose at the end of the past week while six declined, with the Main Market fearing a bit better, with six declining and three rising as the week closed with no new additions to the TOP10 lists.
The Junior Market’s Caribbean Assurance Brokers rose 13 percent to $2.95 while Iron Rock Insurance dropped 13 percent to $2.10, followed by a 12 percent decline for Everything Fresh to close at $1.34, Edufocal lost 10 percent to $1.49 and OneonOne, Dolphin Cove and Image Plus all lost 4 percent.
The Main Market had a 15 percent rise in Key Insurance to $2.88, followed by a 9 percent increase in 138 Student Living to $4.65. Jamaica Broilers fell 9 percent to $31.99, Caribbean Cement lost 6 percent to end at $51.75, followed by a 5 percent fall in Guardian Holdings and Margarittaville down 4 percent to 10.9 US cents.
Key Insurance was three of the TOP10 companies to release results in the week. The half year results ended with revenues up 23 percent to $1.3 billion and profits of $14 million and $9 million for the June quarter, both were helped by Investment income that jumped $118 million from $47 million in the six months and $62 million versus $29 million in the June quarters.
Everything Fresh reported a 14.4 percent increase in revenues to $827 million for the June quarter and a 32 percent jump for the half year to $1.67 billion and a profit of $43 million for the second quarter compared with $30 million in 2022 for the June quarter, and $78 million r the half year versus $38 million in 2022.
Edufocal reported a 36 percent jump in revenues to $98 million in the June quarter and a 59 percent jump for the half year to $211 million, delivering a profit of $23 million for the second quarter compared with $10 million for the June 2022 quarter and $66 million for the half year versus $12 million in 2022.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 317 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 95, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.3 compared with the market at 10.6. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 34, averaging 19, which is well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 278 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
More decline for JSE Main Market
The Main Market of the Jamaica Stock Exchange dropped on Friday, following slippage for the past two days and ended with the volume of stocks traded declining 51 percent and the value 82 percent 
lower than on Thursday, after 58 securities were traded compared to 56 on Thursday and ended with prices of 20 stocks rising, 19 falling and 19 unchanged.
A total of 7,673,086 shares were traded for $53,319,630 compared with 15,739,565 units at $290,871,744 on Thursday.
Trading averaged 132,295 shares at $919,304 compared to 281,064 stocks at $5,194,138 on Thursday and month to date, an average of 519,362 stocks at $2,280,480, compared with 584,813 units at $2,510,650 on the previous day. July closed with an average of 283,368 units at $2,135,482.
Wigton Windfarm led trading with 2.84 million shares for 37.1 percent of total volume, followed by Transjamaican Highway with 1.96 million units for 25.6 percent of the day’s trade and QWI Investments with 714,274 units for 9.3 percent market share.
The All Jamaican Composite Index shed 2,943.11 points to end at 353,626.53, the JSE Main Index dropped 2,292.56 points to 321,234.17 and the JSE Financial Index dipped 0.95 points to 70.47.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Carreras gained 31 cents to end at $8.45 after a transfer of 142,571 shares, First Rock Real Estate fell 63 cents to $8.87 with a transfer of 7,533 stock units, GraceKennedy climbed $1.48 in closing at $77.50 after 4,992 units were traded.
Guardian Holdings fell $20 to $420 with investors transferring 22,192 stocks, Jamaica Broilers dipped 51 cents to close at $31.99 in an exchange of 42,648 stock units, Kingston Properties popped 52 cents and ended at $7.42, with 6 units clearing the market. Pan Jamaica rose 50 cents to $46.50, with 341 stocks crossing the market, Proven Investments rose 94 cents to $23, with 4,451 shares changing hands, Sagicor Group climbed 48 cents to end at $44.98 with an exchange of 29,517 stocks. Scotia Group dipped 50 cents to close at $34, with 22,601 units crossing the market, Stanley Motta rallied 35 cents to end at $4.85 with investors swapping just one stock unit and Sygnus Credit Investments climbed 54 cents and ended at $12.04 after trading 21,558 shares.
In the preference segment, Jamaica Public Service 7% lost $2 to end at $52 as investors exchanged 3 stock units, 
JMMB Group 7% preference share advanced 31 cents to $2.25, with 950 stocks crossing the exchange and 138 Student Living preference share rose $8.50 to close at $93.48 after 218 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Prices fall on the Jamaica Stock Exchange
All markets pulled back on the Jamaica Stock Exchange on Friday but for a minor movement upwards for the JSE USD Market following a drop in trading on the exchange.
At the close, the JSE Combined Market Index lost 2,235.99 points to close at 335,575.18, the All Jamaican Composite Index dropped 2,943.11 points to 353,626.53, the JSE Main Index shed 2,292.56 points to settle at 321,234.17, the Junior Market Index dipped 10.58 points to finish at 3,915.47, while the JSE USD Market Index popped 0.14 points to close at 242.40.
Preference share trading ended with notable price changes for Jamaica Public Service 7%, with a loss of $2 to $52 and 138 Student Living preference share that rose $8.50 to close at $93.48.
At the close, investors dealt in 12,495,973 shares in all three markets, down from 22,726,982 stocks on Thursday. The value of stocks traded in the Junior and Main Markets ended at $64.3 million, down sharply from $305.8 million on Thursday. Trading on the JSE USD market ended with investors exchanging 118,609 shares for US$17,580, compared with 1,054,854 units at US$35,623 on Thursday.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 17.4 on 2022-23 earnings and 11.7 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies 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.
JSE Main Market slips on Thursday
Trading activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded dipping 16 percent but with the value 184 percent greater than on Wednesday, following trading in 56 securities compared with 59 on Wednesday, with 22 rising, 23 declining and 11 ending unchanged.
A total of 15,739,565 shares were traded for $290,871,744 compared to 18,751,692 units at $102,393,251 on Wednesday.
Trading averaged 281,064 shares at $5,194,138 versus 317,825 shares at $1,735,479 on Wednesday and month to date, an average of 584,813 units at $2,510,650, compared to 644,082 units at $1,987,042 on the previous day. July closed with an average of 283,368 units at $2,135,482.
Sagicor Select Financial Fund led trading with 3.34 million shares for 21.2 percent of total volume, followed by NCB Financial with 3.24 million units for 20.6 percent of the day’s trade as Stanley Motta ended with 2.04 million units for 12.9 percent market share, Wigton Windfarm closed with 1.83 million units for 11.6 percent market share and Transjamaican Highway with 1.25 million units for 7.9 percent of total volume.
The All Jamaican Composite Index slipped 201.95 points to finish at 356,569.64, the JSE Main Index shed 2,566.81 points to 323,526.73 and the JSE Financial Index fell 0.90 points to end trading at 71.43.
The PE Ratio, a formula used to compute appropriate stock values, averages 13 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments rose 60 cents and ended at $75.05 after closing with an exchange of 112,578 shares, Caribbean Cement rallied 80 cents to $52 with 27,619 stocks changing hands, Eppley Caribbean Property Fund popped $2.93 to close at $41.94 in switching ownership of 721 units. First Rock Real Estate climbed 50 cents to end at $9.50, with 600 stock units clearing the market, 
GraceKennedy fell $1.48 in closing at $76.02 while 182,784 stocks passed through the market, Jamaica Producers advanced 95 cents in closing at $20.15 after an exchange of 2,032 stock units. Jamaica Stock Exchange dropped $1 to close at $10 in an exchange of 334,799 shares, Margaritaville increased 79 cents to $16.59, with 1,000 units crossing the market, Massy Holdings gained $2.01 to end at $103 after investors exchanged 1,549 units. Mayberry Investments lost 40 cents and ended at $8.30, with 9,296 stocks crossing the market, NCB Financial dropped $4.11 to end at $69.99 after the price hit an intraday 52 weeks’ low of $52 with shareholders swapping 3,241,324 stock units, 138 Student Living advanced 40 cents in closing at $4.51 in trading 32 shares. Pan Jamaica declined 50 cents and ended at $46 in an exchange of 5,984 units, Sagicor Group shed 50 cents to close at $44.50, with stakeholders exchanging 17,585 shares, Seprod dropped 50 cents to close at $70 while trading 11,984 stocks. 
Supreme Ventures rose $1.18 and ended at $28.79 with a transfer of 692 stock units and Sygnus Credit Investments dipped 59 cents to close at $11.50, with 1,809 stock units changing hands.
In the preference segment, Eppley 7.25% preference share fell 50 cents in closing at $18 after a transfer of 28,872 shares and Jamaica Public Service 7% shed $1 to end at $54, trading one unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs on the JSE Main Market
Trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 14 percent, with an 86 percent higher value than Tuesday, after investors traded in 59 securities, the same number as they did on Tuesday, with the market closing with prices of 19 rising, 23 declining and 17 ending unchanged.
Some 18,751,692 shares were traded at $102,393,251 versus 16,406,460 units at $54,958,585 on Tuesday.
Trading averaged 317,825 shares at $1,735,479 compared to 278,076 units at $931,501 on Tuesday and month to date, an average of 644,082 units at $1,987,042, compared with 728,508 units at $2,052,140 on the previous day. July closed with an average of 283,368 units at $2,135,482.
JMMB Group 7.35% – 2028 led trading with 5.21 million shares for 27.8 percent of total volume, followed by Transjamaican Highway with 3.49 million units for 18.6 percent of the day’s trade, Wigton Windfarm ended with 2.44 million units for 13 percent market share, Transjamaican Highway 8% with 2.42 million units for 12.9 percent market share and Stanley Motta with 1.41 million units for 7.5 percent of total volume.
The All Jamaican Composite Index dropped 1,551.91 points to 360,195.26, the JSE Main Index dipped 647.92 points to 326,093.54 and the JSE Financial Index slipped 0.19 points to end at 72.33.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and eight with lower offers.
At the close, Barita Investments declined $1.86 to close at $74.45 in trading 21,438 shares, Caribbean Cement dropped $5 to $51.20 in an exchange of 247,131 stock units, Eppley Caribbean Property Fund lost $2.94 in closing at $39.01 with shareholders swapping 3,565 stock units. Guardian Holdings dipped $12 to end at $440, with just one unit crossing the market, Jamaica Broilers fell $1.45 and ended at $32.55 as 98,395 stocks passed through the market, Jamaica Stock Exchange shed 49 cents and ended at $11 in switching ownership of 105,985 shares. JMMB Group climbed 50 cents to end at $28, with stakeholders exchanging 5,405 units,
Key Insurance advanced 38 cents to $2.89 and closed at 17,231 stock units, Massy Holdings gained 99 cents in closing at $100.99, with 3,159 stocks crossing the market. NCB Financial shed 35 cents to close at $74.10 after 63,410 units passed through the exchange, 138 Student Living dipped 54 cents to $4.11 in an exchange of 17,629 stock units, Pan Jamaica lost 55 cents to close at $46.50, with 5,656 shares changing hand. Proven Investments rose 64 cents in closing at $22.05 with investors transferring 6,769 stocks, Sagicor Group popped 50 cents and ended at $45 with a transfer of 41,613 stock units, Seprod rallied 50 cents to end at $70.50 after a transfer of 17,282 shares. Supreme Ventures declined $1.84 to close at $27.61 in trading 127,714 units and Wisynco Group increased 50 cents to end at $17.50 with 180,211 stock units clearing the market.
In the preference segment, Productive Business Solutions 9.75% preference share dropped $2.95 to $100 after an exchange of 128 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big slip for Juniors while majors rise
The Junior Market Index plunged 59.53 points to close at 3,882.497 points on the resumption of trading on Tuesday after the market was closed for the Independence holiday on Monday. In contrast, the Main Market and JSE US dollar Market rose moderately at the close of the Jamaica Stock Exchange on Tuesday while the volume of stocks traded declined from Friday level but with a higher value.
At the close, the JSE Combined Market Index popped 197.70 points to close at 340,527.20, the All Jamaican Composite Index climbed 153.51 points to close at 361,747.17, the JSE Main Index advanced 653.62 points to 326,741.46, while the JSE USD Market Index popped 1.05 points to close at 241.67.
Preference shares that ended with notable price changes were Jamaica Public Service 7% declining $14 to close at $55, 138 Student Living preference share shedding $15 to close at $84.98 and Productive Business Solutions 9.75% preference share gaining $1.45 to end at $102.95.
At the close, investors had dealings in 23,473,622 shares in all three markets, up from 20,248,937 stocks on Friday. The value of stocks trading in the Junior and Main Markets ended at $71.38 million, down from $133.6 million on Friday. Trading on the JSE USD market ended with investors exchanging 37,378 shares for US$906, compared with 745,414 units at US$22,909 on Friday.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 18.7 on 2022-23 earnings and 12.6 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies 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.
Margaritaville tops ICTOP10
Margaritaville was the top performing ICTOP10 stock after jumping 30 percent during the week to close at 11.35 US cents in the first week on the TOP10. That was the only notable gainer in the Main Market list, although JMMB Group added 5 percent to close at $28.55.
Margaritaville, located in the Turks & Caicos Islands
The Junior Market’s Iron Rock Insurance jumped 15 percent to $2.41, followed by a 12 percent rise in the price of Everything Fresh to $1.53, with General Accident adding just 4 per cent to close at $4.90.
The Main Market had a 14 percent fall in Key Insurance to $2.51, followed by 8 percent in 138 Student Living, ending at $4.28. The Junior Market’s Caribbean Assurance Brokers fell 13 percent to $2.60 and Edufocal was down 8 percent to $1.66. The week closed with no new additions to the ICTOP10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 326 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.8 compared with the market at 10.9. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 40, averaging 20, that is well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 248 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. 
ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.