The volume of stocks traded on the Jamaica Stock Exchange Main Market on Tuesday surged 140 percent with 125 percent greater in value than on Monday, from the trading in 57 securities compared to 56 on Monday, with 26 rising, 15 declining and 16 ending unchanged.
A total of 21,485,881 shares were exchanged for $273,787,529 versus 8,954,820 units at $121,663,893 on Monday.
Trading averaged 376,945 units at $4,803,290 up from 159,908 shares at $2,172,570 on Monday and month to date, an average of 191,544 units at $2,417,068 compared to 145,396 units at $1,823,117 on the previous day. February closed with an average of 183,599 units at $2,160,070.
JMMB Group 7.25% preference share due 2024 led trading with 10.47 million shares for 48.7 percent of total volume followed by Wigton Windfarm with 3.81 million units for 17.7 percent of the day’s trade, Jamaica Broilers with 2.06 million units for 9.6 percent and Massy Holdings with 1.87 million units for 8.7 percent market share.
The All Jamaican Composite Index shed 2,901.00 points to close at 376,412.93, the JSE Main Index declined 1,239.98 points to 332,947.10 and the JSE Financial Index fell 0.88 points to 78.11.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement lost 75 cents in closing at $57.75 trading 2,269 shares, Eppley Caribbean Property Fund rallied $5 to $45 with a transfer of 5 stock units, GraceKennedy declined $2.92 to $82.07 as investors traded 42,157 stocks. Guardian Holdings climbed $25 to close at $509 after an exchange of 168 units, Jamaica Broilers popped 45 cents to $36.50 after switching ownership of 2,057,508 shares, JMMB Group fell $1.47 to $30.53 after a transfer of 21,342 stocks.
Key Insurance lost 10 cents in closing at a 52 weeks’ low of $2.70 following the trading of 1,016 shares. Kingston Wharves shed $1.06 after ending at $32 in swapping of 36,090 units, MPC Caribbean Clean Energy dipped $9 in closing at $70 after investors exchanged 41 stock units, NCB Financial gained 65 cents to close at $73.65 after 20,065 units passed through the market. Palace Amusement lost 58 cents to end at $3.10 in an exchange of 104,053 stocks, Proven Investments rose $2.25 to $28.50 with investors transferring 6,840 shares, Scotia Group lost 25 cents in ending at $34.50 after switching ownership of 79,694 stock units. Seprod advanced $3.39 in closing at $69.89 in trading 12,573 stock units and Sygnus Credit Investments gained 25 cents to end at $12.60 with the swapping of 12,579 units.
In the preference segment, Jamaica Public Service 7% advanced $13.07 to close at a new record high of $63.50 as investors exchanged 1,758 stocks and JMMBGL 7.25% preference shares traded 226 shares and gained 20 cents to land at a 52 weeks’ high of $4.53.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
A total of 8,954,820 shares were exchanged for $121,663,893 versus 7,443,601 units at $130,741,691 on Friday.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Kingston Wharves fell $2.14 to $33.06 in an exchange of 2,821 units. Mayberry Investments shed $1.27 to end at $8.98 with 7,875 shares changing hands, NCB Financial dipped $2.49 to $73 after 18,540 stock units passed through the market, Palace Amusement lost 82 cents to end at $3.68 with the swapping of 756,211 stocks. PanJam Investment gained 55 cents in closing at $57.05 in trading 2,706 units, Proven Investments fell $2.65 after ending at $26.25 as investors exchanged 9,563 stock units, Sagicor Group declined $1.03 to $52.97 in switching ownership of 26,935 shares. Salada Foods rose 46 cents to end at $4 with investors transferring 3,204 stocks, Seprod fell $1.39 to $66.50 with an exchange of 4,965 stocks, Stanley Motta rallied 63 cents to $5.44 trading 495 shares and Supreme Ventures shed $1.20 to close at $24.60 after 74,008 units passed through the market.
Jamaica Public Service 7% advanced $2.43 to another record high of $50.43 after exchanging 1,000 stock units and Jamaica Public Service 9.5% dropped $450 to end at $2550 trading 25 units.
Price changes resulted in Paramount Trading,
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.5, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 6.1 compared with the market at 11.8. The differences are important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 240 percent and the Main Market TOP10 by an average of 284 percent to May 2024, now that TOP10 stocks earnings are based on 2023 profits.
A total of 7,443,601 shares were traded for $130,741,691 versus 11,506,995 units at $127,421,242 on Thursday.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Mayberry Investments rose $1.75 in closing at $10.25 after an exchange of 143,406 units, MPC Caribbean Clean Energy dropped $18 to end at $79 with 100 stock units changing hands, NCB Financial rallied $1.99 to $75.49 as investors exchanged 28,900 stocks. Palace Amusement lost $2.20 to close at $4.50 after trading 603,232 stocks, PanJam Investment dipped 60 cents ending at $56.50 after investors transferred 439 shares, Proven Investments gained $1 in closing at $28.90 after exchanging 5,160 units. Sagicor Group popped 65 cents to close at $54 with the swapping of 16,081 stock units, Salada Foods fell 45 cents to end at $3.54 after 4,000 stocks changed hands, Scotia Group popped 70 cents to close at $34.75 as investors traded 231,052 shares, Seprod advanced $5.84 to $67.89 with a transfer of 8,737 units and Sygnus Credit Investments lost 44 cents in closing at $12.24 in switching ownership of 32,719 stocks.
In the preference segment, Jamaica Public Service 7% climbed $9.77 to end at a record $48 as 1,766 shares passed through the market.
A total of 11,506,995 shares were exchanged for $127,421,242 versus 5,390,205 units at $37,625,972 on Wednesday.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and five with lower offers.
Jamaica Stock Exchange rose 57 cents to $14.55 with 8,700 stocks changing hands, JMMB Group dropped 71 cents to $31.18 with a transfer of 52,761 stock units. Mayberry Investments rallied 69 cents to end at $8.50 with an exchange of 219,534 stock units, NCB Financial shed $2 in closing at $73.50 after trading 16,302 shares, 138 Student Living rallied 49 cents to $5.50 after a transfer of 38,968 stocks. PanJam Investment gained 58 cents to end at $57.10 in exchanging 2,387 units, Proven Investments popped 40 cents to $27.90 as investors traded 212 stocks, Scotia Group dipped 70 cents to $34.05 after a transfer of 38,513 units. Seprod declined $4.95 to close at $62.05 as investors exchanged 109,920 shares and Wisynco Group popped 41 cents in ending at $18.01 with the swapping of 95,604 stock units.
In the preference segment, Jamaica Public Service 7% continues to defy gravity in advancing $8.23 to a new record high of $38.23 with 1,720 units changing hands and 138 Student Living preference share advanced $3.45 to end at $77.45 in trading 158 stock units.
A total of 5,390,205 shares were traded for $37,625,972 down from 15,655,244 units at $89,795,027 on Tuesday.
The JSE Main and USD Market PE ratios combine the last traded price and earnings per share forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Guardian Holdings dropped $9.50 to end at $500.50 after investors traded 134 shares, Jamaica Broilers shed 75 cents to close at $35.75 with the swapping of 26,083 stock units, Jamaica Producers dipped $2.41 to $20.31 after an exchange of 8,604 stocks. Jamaica Stock Exchange shed 72 cents to $13.98 with investors transferring 7,620 stock units, JMMB Group rallied $1.38 in ending at $31.89 after an exchange of 20,197 units, MPC Caribbean Clean Energy rose $13.10 to $97 trading 10 shares. NCB Financial advanced $2.89 to end at $75.50 in switching ownership of 12,797 stocks, 138 Student Living lost 49 cents to close at $5.01 with a transfer of 508 stock units, Palace Amusement declined $1.05 in closing at $6.70 as investors swapped 33,208 shares. PanJam Investment shed 58 cents in closing at $56.52 with 1,032 units clearing the market, Proven Investments popped 48 cents to $27.50 in an exchange of 5,212 stock units, Sagicor Group fell $1.02 to close at $52.97 with 16,208 shares changing hands.
Seprod advanced $3.75 to end at $67 exchanging 624 stocks and Stanley Motta shed 74 cents ending at $4.90 with the swapping of 30,567 units.
A total of 15,655,244 shares were exchanged for $89,795,027 up from 5,884,158 units at $75,612,128 on Monday.
The All Jamaican Composite Index surged 6,007.28 points to end at 378,694.45, the JSE Main Market Index rose 3,927.57 points to 334,642.23 and the JSE Financial Index rose 0.66 points to close at 78.91.
Jamaica Broilers rose $1.50 to close at $36.50 after 143,453 stock units cleared the market. Jamaica Producers popped 44 cents to $22.72 with a transfer of 42,840 stocks, Jamaica Stock Exchange gained 40 cents to close at $14.70 in an exchange of 18,632 shares, JMMB Group lost 49 cents to finish at $30.51 with the swapping of 100,248 units. Kingston Properties gained 85 cents in ending at $7.60 after an exchange of 429,151 stocks, Kingston Wharves rose $3 to settle at $35 after 86,523 stock units passed through the market, Margaritaville shed $2.90 in closing at $16.44 with 3 shares changing hands. MPC Caribbean Clean Energy advanced $14.89 to close at $83.90 in switching ownership of 379 units, NCB Financial declined $4.34 in closing at $72.61 with a transfer of 24,631 stocks, Palace Amusement rallied $1.80 ending at a record high of $7.75, after 51,341 units crossed the exchange. Portland JSX gained 55 cents to end at $11.45 after a transfer of 43,210 stock units, Sagicor Group popped $2.49 to $53.99 in clearing the market with 329,264 shares, Scotia Group rose 51 cents to $34.51 with the swapping of 78,951 units.
Seprod advanced $1.25 to end at $63.25 after trading 33,205 stocks, Stanley Motta gained 60 cents to close at $5.64 in an exchange of 78,400 stock units, Supreme Ventures rose $1.38 in closing at $26.39 after trading 70,835 shares and Sygnus Credit Investments USD share advanced $2.09 ending at $22.99 after exchanging 85 stocks.In the preference segment, Jamaica Public Service 7% climbed $5.57 to close at a record high of $22.83 in transferring 1 stock unit and 138 Student Living preference share rallied $8.65 to end at $74.10 as investors exchanged 120 units.
A total of 5,884,158 shares were exchanged for $75,612,128, down from 9,589,463 units at $231,326,583 on Friday.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Massy Holdings gained 90 cents to settle at $79.90 in switching ownership of 23,305 units, NCB Financial shed $1.05 to end at $76.95 in trading 4,205 shares, 138 Student Living popped 69 cents to $5.70 after exchanging 2,000 stock units. Palace Amusement rose $1.45 to $5.95 after 211 stocks passed through the market, following the 600 to 1 stock split taking effect on the market, Proven Investments declined $2 to $27 after a transfer of 26,749 units, Seprod dipped $3.98 to close at $62 after swapping of 371,770 shares and Sygnus Real Estate Finance fell 80 cents to $9.20 after trading 553 stock units.
in closing at $2.39 in switching ownership of 93 shares and 138 Student Living preference share declined $11.55 to $65.45with 20 stocks clearing the market.
ICTOP10 has only one new addition this week, in the Junior Market TOP10 and none in the Main Market, following major volatility in price movements in the listings.
Earnings per share for Elite Diagnostic was revised down to 28 cents per share for the current year, following a small loss of $7 million in the December quarter, even as revenues rose a solid 20 percent or $30 million over the same quarter in 2021, resulting in the stock dropping out of the ICTOP10, to be replaced by Tropical Battery that is returning after a short absence.
The situation in the Main Market is similar, with the 17 highest valued stocks priced at a PE of 15 to 109, with an average of 32 and 23 excluding the highest valued stocks and 21 for the top half excluding the highest valued stocks.
A total of 9,589,463 shares were traded for $231,326,583 up from 6,903,600 units at $128,999,772 on Thursday.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
GraceKennedy rose $1.55 to $78.75 with a transfer of 37,607 shares. Jamaica Broilers declined $1.96 to close at $33 with investors trading 642,278 stocks, JMMB Group fell $1.87 in closing at $31 in an exchange of 450,035 units, MPC Caribbean Clean Energy rallied $7.01 to end at $69.01 with 200 stocks changing hands.
Supreme Ventures shed 96 cents to close at $25.04 in switching ownership of 41,444 units and Wisynco Group gained 79 cents to end at $17.40 as investors traded 14,900 stock units.