The volume of stocks traded rose 415 percent with a 66 percent higher on the Jamaica Stock Exchange US dollar market on Wednesday, resulting in trading in five securities, compared to nine on Tuesday with prices of three rising, one declining and one ending unchanged.
The market closed with an exchange of 379,029 shares for US$8,339 compared to 73,669 units at US$5,026 on Tuesday.
Trading averaged 75,806 units at US$1,668 versus 8,185 shares at US$558 on Tuesday, with a month to date average of 34,930 shares at US$2,883 compared with 31,924 units at US$2,973 on the previous day and April that ended with an average of 35,401 units for US$2,453.
The US Denominated Equities Index gained 2.27 points to close at 236.26.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Margaritaville advanced 1.28 cents to 9.81 US cents with investors swapping 119 shares, Proven Investments rose 0.39 of one cent to finish at 13.89 US cents in switching ownership of just one stock, Sterling Investments fell 0.07 of a cent and ended at 1.53 US cents after 31,198 stock units passed through the market. Sygnus Credit Investments remained at 7.7 US cents after exchanging 9,133 units and Transjamaican Highway rallied 0.09 of a cent in closing at 2.11 US cents with investors dealing in 338,578 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rise in JSE USD trading
Interest rates drop
Bank of Jamaica may be ushering a period of lower interest rates in Jamaica, with decline in rates on the latest certificate of deposit (CDS) when they offered a mere $7 billion in CDs to the public on Wednesday but received bids for $25 billion from 279 applications, resulting in 151 being successful with the CD rate declining from just over 10.38 percent at the previous 30 days offer to an average of a flat 10 percent.
At the end of the auction total CDs that will be outstanding for 30 days amount to $128.5 billion this is down from under $160 billion dollars in late March when the average rate was 11.13 percent.
The amount offered in the auction and the fall in rates could be interpreted as an indication that the Bank of Jamaica has started the process of interest rate reduction in light of continued deflation for the first four months of this year in the order of 2 percent per annum.
The central bank had previously offered $20 billion in CDS for 25 months on May 13 resulting in an average rate of 9.08 percent even as it was undersubscribed with the bids amounting to $19.3 billion.
Bank of Jamaica raised their overnight rate to 7 percent in November 2022 and has maintained that rate since. Inflation for the year to date suggests that the country may be in a longer period of deflation than was thought possible by the authorities who may now be signalling that the policy of high interest rates may have outlived its time from late 2024.
Trinidad &Tobago Stock Exchange falls
Trading fell on the Trinidad and Tobago Stock Exchange on Tuesday, with a 64 percent fall in the volume of stocks traded valued 15 percent lower than on Monday and resulting in the trading of 22 securities up from 17 on Monday, ending with prices of four stocks rising, eight declining and 10 remaining unchanged.
The market closed with an exchange of 216,912 shares for $3,237,041 compared to 595,733 stock units at $3,794,274 on Monday.
An average of 9,860 shares were traded at $147,138 compared to 35,043 units at $223,193 on Monday, with trading month to date averaging 17,846 shares at $162,051 compared with 18,951 units at $164,115 on the previous day and an average for April of 17,642 shares at $178,724.
The Composite Index skidded 5.03 points to wrap up trading at 1,154.03, the All T&T Index slipped 9.66 points to 1,743.58, the SME Index remained at 78.90 and the Cross-Listed Index skidded 0.01 points to end the day at 73.22.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $68.75 with traders dealing in 2,600 stocks, Angostura Holdings ended at $20 after 980 shares passed through the market.
Ansa McAl remained at $57 in an exchange of 5,000 stock units, Ansa Merchant Bank ended at $45, with 66 shares changing hands, Calypso Macro Investment Fund ended at $23 after 3,022 stock units were transferred. FirstCaribbean International Bank ended at $6.93 with 999 stocks clearing the market, Guardian Holdings shed 50 cents to finish at $17 in trading 67,084 stock units, JMMB Group dipped 1 cent and ended at $1.34 after an exchange of 148 shares. L.J. Williams B share lost 6 cents in closing at $1.89 after 50 stocks were traded, Massy Holdings slipped 1 cent to $4.19 in switching ownership of 97,886 units, National Enterprises fell 5 cents to close at $3.65 after investors ended trading 10,127 stock units. National Flour Mills rallied 5 cents to $2 in an exchange of 299 shares, NCB Financial rose 20 cents in closing at $2.90 with investors swapping 8 stocks, One Caribbean Media ended at $3.70, with 1,044 units crossing the exchange.
Prestige Holdings remained at $13 with investors trading 7 stock units, Republic Financial ended at $118 with an exchange of 6,831 shares, Scotiabank sank 50 cents to $67, with 818 units crossing the market. Trinidad & Tobago NGL popped 1 cent to $7.96 after 7,057 stocks were exchanged, Trinidad Cement climbed 5 cents to close at $2.60 with investors transferring 25 stock units, Unilever Caribbean declined by 1 cent to $11.99 with investors dealing in 12,356 shares and West Indian Tobacco ended at $9 after a transfer of 110 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD Market inched higher
The Jamaica Stock Exchange US dollar market ended trading on Tuesday, with the volume of stocks exchanged declining 62 percent with a 73 percent lower value than on Monday, resulting in trading in nine securities, compared to six on Monday with prices of one rising, three declining and five ending unchanged.
The market closed with an exchange of 73,669 shares for US$5,026 compared to 193,327 units at US$18,349 on Monday.
Trading averaged 8,185 units at US$558 versus 32,221 shares at US$3,058 on Monday, with a month to date average of 31,924 shares at US$2,973 compared with 35,546 units at US$3,341 on the previous day and April that ended with an average of 35,401 units for US$2,453.
The US Denominated Equities Index increased 0.23 points to wrap-up trading at 233.95.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer.
At the close, MPC Caribbean Clean Energy skidded 1 cent and ended at 60 US cents after an exchange of 120 stock units, Proven Investments popped 0.41 of one cent to 13.5 US cents with a transfer of 2,000 shares, Sterling Investments ended at 1.6 US cents, with trading of 2,418 units.
Sygnus Credit Investments lost 0.3 of a cent to end at 7.7 US cents after a transfer of 6,503 stocks and Transjamaican Highway slipped 0.01 of a cent in closing at 2.02 US cents with traders dealing in 61,599 units.
In the preference segment, JMMB Group US8.5% preference share ended at US$1.20 in an exchange of 164 stocks, JMMB Group 5.5% closed trading at US$1.64, with 729 shares crossing the market, Productive Business Solutions 9.25% preference share ended at US$11.05 with an exchange of 86 units and Sygnus Credit Investments US 8% ended at US$10.60 after 50 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading closed with an exchange of 12,161,308 shares for $176,680,058 compared to 31,493,482 stock units at $262,090,658 on Tuesday.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and two with lower offers.
Margaritaville climbed 92 cents and ended at $15 with investors trading just one share, Massy Holdings popped $1.89 to $89.89 in an exchange of a mere one stock unit, Mayberry Group lost 50 cents to close at $7.50, with 294 units crossing the market. NCB Financial gained $2.49 to finish at $63.99 in an exchange of 1,624,909 stock units, Pan Jamaica rallied $2.19 to $47.50, with 2,456 shares changing hands, Proven Investments advanced 43 cents in closing at $21.43 with 3,766 units crossing the exchange. Sagicor Group gained 55 cents to $40.55 in trading 9,907 stocks, Scotia Group slipped $1.20 to close at $42, with 161,192 stock units crossing the market, Seprod popped $1.01 in closing at $80 as investors exchanged 9,844 shares and Wisynco Group advanced $1 and ended at $21 after a transfer of 120,383 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with trading of 50,366,450 shares for $107,450,383 compared with 4,554,464 units at $9,496,646 on Tuesday.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
Fontana rose 10 cents in closing at $8.50 following an exchange of 27,038 stock units, Honey Bun dipped 59 cents to end at $7.26 with 3,827 stocks crossing the market, Indies Pharma skidded 33 cents to close at $2.37 as investors exchanged 155,065 units. Jetcon Corporation rallied 12 cents to end at 99 cents after 1,967 stocks passed through the market, JFP Ltd slipped 10 cents to close at 52 weeks’ low of $1.02 after an exchange of 109,949 units, Limners and Bards increased 27 cents in closing at $1.52 with investors trading 25,580 shares. Mailpac Group gained 7 cents to end at $2.08 in an exchange of 87,964 stock units, Medical Disposables sank 28 cents and ended at $2 with investors swapping 14,098 shares, MFS Capital Partners rose 28 cents to finish at $1.39 with a transfer of 10,636 stock units. Paramount Trading dipped 32 cents and ended at a 52 weeks’ low of $1.17 with 5,097 units crossing the exchange, Regency Petroleum climbed 12 cents to $2.18 in trading 124,961 stocks and Stationery and Office Supplies lost 9 cents to end at $1.64 after an exchange of 751 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with 31,493,482 shares being traded for $262,090,658 down sharply from 176,820,638 units at $563,186,691 on Monday.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and five with lower offers.
Lasco Distributors gained 36 cents to end at $5.45 with a transfer of 15,214 shares, Margaritaville dipped 92 cents to end at $14.08 after 13,196 stock units passed through the market, NCB Financial slipped $3 in closing at $61.50, with 154,649 stocks changing hands. Pan Jamaica lost $1.69 and ended at $45.31 after a transfer of 1,000 units, Proven Investments advanced $1 to finish at $21 in trading 473 shares, Sagicor Group dipped 90 cents to close at $40 in an exchange of 78,504 stocks. Seprod rose $2.97 to $78.99 with investors trading 284,751 units, Stanley Motta gained 68 cents to finish at $7.26 after an exchange of one stock unit and Sygnus Credit Investments sank 30 cents and ended at $10.50 with investors transferring 117,075 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with trading of just 4,554,464 shares for only $9,496,646 compared with 118,786,848 units at $248,220,254 on Monday.
The Junior Market ended trading with an average PE Ratio of 11.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Fosrich slipped 7 cents to $2.06 with a transfer of 1,161,056 shares, Honey Bun increased 24 cents and ended at $7.85 after an exchange of 7,414 stock units, Indies Pharma climbed 18 cents to close at $2.70 with 303 shares clearing the market. Jamaican Teas rose 20 cents in closing at $2.25 in an exchange of 134,960 units, Jetcon Corporation dipped 12 cents to end at 87 cents after closing with an exchange of 556 stocks, Medical Disposables rallied 43 cents to finish at $2.28 with investors trading 436 stock units. MFS Capital Partners lost 15 cents and ended at $1.11, with 274,374 shares crossing the market and Tropical Battery advanced 13 cents to $2.25 after a transfer of 38,098 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with 176,820,638 shares trading for $563,186,691 well up from a total of 16,107,185 units at $138,294,154 on Friday.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and five with lower offers.
Pan Jamaica rallied $1.80 to end at $47 after 2,944 stock units crossed the exchange, Portland JSX skidded $1.36 in closing at $7.69 in trading 8,987 stocks, Sagicor Group increased by 71 cents to close at $40.90 after 14,523 units passed through the market. Scotia Group climbed 65 cents to $43.15 in an exchange of 146,309 stocks, Seprod shed 98 cents to close at $76.02 with traders dealing in 9,579 units, Stanley Motta declined 90 cents and ended at $6.58 after an exchange of 1,023 shares. Sygnus Real Estate Finance dipped $1.36 to finish at $10.53 with investors trading 2,324 stock units and Wisynco Group slipped 50 cents to end at $20 after a transfer of 82,268 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market ended with exchange of 118,786,848 shares for $248,220,254 compared with 121,305,240 units at $259,384,829 on Friday.
The Junior Market ended trading with an average PE Ratio of 11.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Jamaican Teas slipped 32 cents to close at $2.05 with traders dealing in 1,755,759 shares, JFP Ltd lost 7 cents to finish at $1.13 as investors exchanged 35,746 stock units, KLE Group shed 29 cents and ended at $1.91 with 1,500 units clearing the market. Lasco Financial declined 7 cents to $1.62 with an exchange of 26,531 stocks, Limners and Bards sank 18 cents to finish at $1.26, with 1,870 shares crossing the market, Mailpac Group rose 6 cents and ended at $2.06 with investors transferring 72,869 stock units. Main Event slipped 44 cents to close at $13 after an exchange of 6,480 units, Medical Disposables fell 43 cents in closing at $1.85 with investors trading 34,744 shares, MFS Capital Partners dipped 17 cents to end at $1.26 after a transfer of 265,589 stock units.
One Great Studio skidded 7 cents in closing at 86 cents after 204,846 stocks passed through the market, ONE on ONE Educational dropped 10 cents to a 52 weeks’ low of 75 cents after an exchange of 3,519,161 units, Spur Tree Spices lost 9 cents to finish at $2.30 with a transfer of 456,263 shares. Tropical Battery shed 21 cents and ended at $2.12 in an exchange of 190,796 units and tTech gained 19 cents to close at $2.20 in an exchange of 146 stock units.