JSE Main market suffers big loss as trading climbs

Stocks fell in Monday’s trading session and pushed down the market indices, with the Main Market index losing more than 6,000 points, with the Junior Market after losing around 33 points, deep into the trading session bounced back before the close to end the day with a minor of a few points while the JSE USD market closed moderately lower as trading ended with the number of stocks changing hands falling and the value jumping sharply over the previous trading day, resulting in prices of 29 shares rising and 43 declining.
At the close of trading on Monday, the JSE Combined Market Index dived 5.384.99 points to close at 336,302.80, the All Jamaican Composite Index dropped 4,751.24 points to finish at 363,559.46, while the JSE Main Index plunged 5,752.15 points to end trading at 323,170.52. The Junior Market Index rose 1.10 points to 3,793.15 and the JSE USD Market Index fell 0.14 points to wrap up trading at 250.57.
At the close of trading, 31,872,543 shares were exchanged in all three markets, down from 36,320,454 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $217.58 million, up from just $61.09, million on the previous trading day and the JSE USD market closed with an exchange of 90,769 shares for US$18,681 compared to 83,304 units at US$2,577 on Friday.
Trading in the Main Market was dominated by General Accident with 12.0 million shares followed by Transjamaican Highway with 6.55 million units, Sagicor Group with 1.33 million stock units and Proven Investments with 1.0 million stocks.
In the Junior Market, Fosrich led trading with 999,041 shares followed by Derrimon Trading with 614,908 units and Everything Fresh with 526,860 stocks.
In the preference segment, Jamaica Public Service 9.5% increased $51 to $2,900 and Productive Business Solutions 9.75% preference share dropped $10 in closing at $105.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 20.1 on 2022-23 earnings and 14.1 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 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 for investors 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 of the highest bid and the lowest offer for each company.

Junior Market surges to a new record high

The Junior Market blast through 4,100 points on Friday on the way to yet another record closing high of 4,168.16, up 95.60 points for the day after hitting all-time intraday high of 4,185.95 at 11.45 am.  A the same time Jamaica Stock Exchange Main Market stocks continued to consolidate, with the Combined Index falling 572.07 points to 399,669.70.
The All Jamaican Composite Index lost 1,330.54 points to settle at 439,591.90 and the JSE Main Index slipped 1,508.82 points to 387,382.91. 
A number of Junior Market stocks traded at 52 weeks’ high, with Future Energy hitting a new record of $8.30, Lumber Depot traded at record $4.05, Derrimon Trading closing at $3.09, Spur Tree climbed to a record of $3.96 and Tropical Battery hit a record of $2.30 during the session.
The market’s PE ratio ended at 18.4 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of the chart to help make rational investment decisions, by investing in stocks that are close to the average for the sector and not going too far from it, unless there are compelling reasons to do so. 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.  This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily 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 payable and yields for each company are shown in the Main and  Junior Markets daily report charts that show closing volume for the bids and offers.

The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

 

All Jamaica trades at new intraday record

The main market of the Jamaica Stock Exchange traded at a new record territory on Wednesday morning within 3 minutes of opening and went on to yet a higher level at 5 minutes later.
The Main market which has slipped back slightly since to be at 377,639.34 for the All Jamaica Composite Index for a gain over Tuesday’s close of 376,930.26. The All Jamaica Composite Index traded with a gain of 1,728.19 points to 378,658.45 and then went on to 378,793.40. The JSE Index rose 1,574.58 points to a record 345,000.67 and then went further to 345,123.62 for a total gain of 1,697.53.
The Junior Market Index slipped 33.18 points to 3,335.94 Derrimon Trading pulled back to $2.75 from $3 and Paramount Trading fell to $2.60 from $2.75 from the close on Tuesday.

Derrimon buying Woodcats International

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Staff at Derrimon Trading.

Derrimon Trading signed an agreement to buy Woodcats International with the transaction set to close within thirty days.
Woodcats was founded in 1999 by Christopher Collings and reached of $450 million in the 2017 financial year. products include: export pallets, warehouse pallets, wooden crates, sawdust, and landscaping mulch with in heat treatment and pallet repair.
Revenues for the Derrimon Trading first quarter March this year, climbed 27 percent to $1.94 billion above the $1.53 billion reported for the 2017 quarter and led to a big hike in profit.
The company reported a strong 45 percent jump in its first quarter results, from $35 million to $52 million or 21 cents per share to March this year, but profit could have been even higher had they not incurred finance cost which jumped 56 percent to $38 million from $25 million in 2017.
Derrimon stock traded 236,050 as high as $25 on Friday on the Jamaican Stock Exchange but ended at a record close of $24 to be up 243 percent for the year. The company is expected to approve a  stock split of 10 to 1 at their upcoming annual general meeting slated for August 22.

Junior Market in sharp jump – Thursday

The Junior Market Index almost erased the sharp fall on Wednesday by rising 39.95 points on Thursday to close at 2,951.81 trading on 17 securities down from 21 on Wednesday.
The market closed with an exchange of 3,527,982 units valued at $15,057,338 compared to 4,267,590 units valued at $17,190,562 on Wednesday.
At the close of market activities, the prices of 11 securities advanced, 3 declined and 3 remained unchanged and Stationery and Office closed at a new high of $9.02 after trading at an intraday high of $10.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with bids higher than their last selling prices and 3 with lower offers.
Market activity ended with an average of 207,528 units for an average of $885,726 in contrast to 203,219 units for an average of $818,598 on Wednesday. The average volume and value for the month to date amounts to 127,177 units with an average value of $576,852 and previously 122,282 units with an average value of $558,032. April closed with an average of 121,622 units at $506,803, for each security traded.
At the close of the market, with 36,784 units, Cargo Handlers settled with a loss of 8 cents at $9.76, in exchanging 4,154 shares, Caribbean Producers finished trading 26 cents higher at $5.55, with 6,500 units, Consolidated Bakeries closed with a loss of 1 cent at $1.89, after trading 10,000 shares, Derrimon Trading concluded trading 3 cents higher at $9.53, with 5,000 shares, Dolphin Cove rose 50 cents to $15, with 4,683 stock units. Elite Diagnostic settled with a loss of 5 cents at $3.20, with 36,784 units, Express Catering jumped 42 cents to $6.05, with 4,350 shares trading, FosRich Group rose 4 cents to end at $2.39, with 31,010 shares, GWest Corporation closed trading at $2.30, with 13,000 units. Honey Bun concluded trading 1 cent higher at $4.70, with 30,356 shares, Jetcon Corporation traded at $4.20, with 40,233 units, KLE Group closed at $2.80, with 1,500 shares, Lasco Distributors concluded trading after rising 39 cents to $4.44, with 308,020 stock units. Lasco Financial finished 24 cents higher at $5.64, with 24,040 units, Lasco Manufacturing settled 15 cents higher at $4.20, with 2,944,659 shares, Main Event gained 3 cents in closing at $6.98, with 5,143 shares and Stationery and Office closed 2 cents higher at $9.02, with 58,550 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

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