Stock prices fall but JSE rises to start 2024

The Main Market and USD Market of the Jamaica Stock Exchange climbed to start the new year at the close on Tuesday but the Junior Market slipped modestly following b gains on Friday, with trading dropping sharply from the year close on Friday, notwithstanding the gains in the market, trading ended with declining dominating those rising on the first day of the year.
At the close of trading, 21,294,970 shares were exchanged in all three markets, down from 107,792,193 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $81.4 million, down from $952.3 million on Friday. The JSE USD market closed after 51,389 shares were traded for US$5,071 compared to 367,867 units at US$23,662 on Friday.
Sagicor Select Financial Fund was the dominant trade in the Main Market, with 3.15 million shares, followed by Transjamaican Highway with 2.45 million units and Ciboney Group, 1.98 million units. In the Junior Market, EduFocal led trading with 2.46 million shares followed by One Great Studio with 1.59 million units and Future Energy, 665,397 stock units.
At the close of trading, Main Market stocks rallying were Guardian Holdings jumping $49.98 and ended at $399.98, Eppley popping $2.04 to close at $38.04, Scotia Group up $1.10 and ended at $39.50 and Massy Holdings advancing $1 to end at $91.
Declining Main Market stocks included AS Bryden, with a decline of $3.01 and ended at $30.10, Barita Investments falling $3.98 to $73, Eppley Caribbean Property Fund dropped $2.10 to $40, JMMB Group skidded $1 to $25, NCB Financial lost $1.99 to $68, followed by Sagicor Group skidding $2.50 to $47, Seprod declining $2.51 to end at $79.99 and Supreme Ventures shedding $2 in closing at $25.
Rising Junior Market stocks include ISP Finance and Access Financial up $2.49 each and Dolphin Cove up $1.27. Falling stocks include Main Event dropping 76 cents, AMG Packaging skidding 62 cents and Spur Tree Spices with a fall of 40 cents.
At the close of trading, the JSE Combined Market Index jumped 1,935.67 points to close at 341,093.80, the All Jamaican Composite Index climbed 1,130.72 points to 368,148.57, the JSE Main Index increased 2,125.48 points to end at 327,825.27. The Junior Market Index lost 6.58 points to end at 3,841.75 and the JSE USD Market Index gained 6.62 points to culminate at 237.81.
In the preference segment, Eppley 7.75% preference share dropped $3 to $19.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21 on 2022-23 earnings and 14.2 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.

Seprod stock trades at $90

Seprod traded just 2,605 shares up to a 52 weeks’ high of $90 in Wednesday’s morning trading session on the Jamaica Stock Exchange. Trading is suspended as the price breached the circuit breaker, as there was limited selling of the stock.
Buying in the stocks could be better, with 43,579 units on the bid at $75 and 9,539 units between $75.01 and $80.90. Sellers range from 9,000 units at $80.90, 9,400 shares at $80.95, 2,989 units at $90 and 3,000 shares at $150.
As trading in the stock is suspended, more sellers and buyers could come to the market and change the day’s outcome.
At $90, the stock traded at a PE ratio of 18 times this year’s earnings. The significant publicly known development is the pending listing of Seprod subsidiary, AS Bryden and Sons, on the Jamaica Stock Exchange later this week. That will not affect the result of the group as it will neither increase nor decrease its earnings. It will not even change the group’s reported net asset value.
Seprod traded 1,459,106 shares in Tuesday trading session and closed at $79.99 with a gain of $6.97.

Seprod slated to make big acquisition

Seprod is in the process of acquiring a distribution company headquartered in Trinidad and Tobago and is involved in food, grocery, hardware, housewares, pharmaceuticals and beverages.
ICinsider.com gathers the acquisition, which Seprod states is slated to be concluded by the end of May, would about double Seprod’s size in revenues. The target has 1,300 employees and revenues of US$240 million around J$37 billion, just below Seprod‘s sales of J$43 billion for 2021. The group, AS Brydens which is being acquired, also operates in Barbados and Guyana and is expected to boost Sperod’s profit per share, from the majority ownership that they will hold along with others within the Musson Group.

IC Insider.com gathers that Seprod expects to benefit from increased sales of locally manufactured goods through the new linkage.

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