Trading picked up on Wednesday, with the volume of stocks traded rising 32 percent, with a more than doubling in the value that rose 120 percent more than on Tuesday, on the Jamaica Stock Exchange US dollar market, resulting in more stocks falling than rising at the close.
A total of six securities traded, compared to five on Tuesday with two rising, four declining and no ending unchanged. The JSE US Denominated Equities Index fell 1.02 points to 217.95.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio uses ICInsider.com earnings forecasts for companies with their financial year ending, up to August 2023.
Overall, 118,104 shares were traded, for US$34,212 up from 89,436 units at US$15,551 on Tuesday. Trading averaged 19,684 units at US$5,702, compared to 17,887 shares at US$3,110 on Tuesday, with month to date average of 89,891 shares at US$4,494 versus 95,583 units at US$4,396 on the previous day. May averaged 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and two stocks with lower offers.
At the close, First Rock Capital USD share shed 0.4 of a cents to end at 7 US cents with the swapping of 28,483 shares, Proven Investments rallied 0.97 of one cent in ending at 25.99 US cents after trading 5,000 units, Sterling Investments advanced 0.25 of a cent to 2.17 US cents, as 250 stocks changed hands. Sygnus Credit Investments USD share declined 0.19 of a cent to close at 12.2 US cents while exchanging 275 stock units and Transjamaican Highway fell 0.07 of a cent in closing at 0.91 of one US cent in an exchange of 54,096 units.
In the preference segment, JMMB Group 6% lost 4 cents to close at US$1.01 after trading 30,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Volume up, prices down on JSE USD market
Trading surges on the Trinidad Exchange
Investors were more aggressive in trading on the Trinidad and Tobago Stock Exchange on Wednesday and sending the volume of stocks exchanged surging 804 percent above Tuesday trades and the value jumping 141 percent, resulting in an exchange of 16 securities against 17 on Tuesday.
At the close, just two stocks gained, eight declined and six remained unchanged as three stocks closed at 52 weeks’ lows.
The Composite Index dropped 7.17 points to 1,389.87, the All T&T Index declined 1.06 points to 2,048.89, and the Cross-Listed Index lost 1.92 points to settle at 95.84.
Massy Holdings traded just under 3.1 million shares of the total of 3,156,815 shares traded in the overall market for $17,871,492, up from 349,060 units at $7,422,516 on Tuesday. An average of 197,301 units were traded at $1,116,968 compared to 20,533 shares at $436,619 on Tuesday, with trading month to date averaging 73,762 units at $594,075 versus 63,626 units at $551,170. The average trade for May amounts to 45,890 units at $370,328.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s finished trading 217 shares at $47.20, Angostura Holdings remained at $23 in exchanging 1,993 stock units, CinemaOne lost 5 cents to close at $3.90 an exchange of 200 stocks. Clico Investment Fund popped 97 cents in closing at $28.97 after switching ownership of 4,255 units, First Citizens Group ended at $50 trading 3,048 stocks, FirstCaribbean International Bank fell 18 cents to close at $5, with 10,000 units changing hands. Guardian Holdings slipped 1 cent to $27.30 after 5,000 stock units crossed the market, JMMB Group finished at $2.30, with 100 shares clearing the market, L.J. Williams B share dipped 2 cents to $2.08 after an exchange of 8 stocks. Massy Holdings ended at $5.19 with 3,097,575 shares changing hands, National Enterprises remained at $3.25, with 10,065 stock units crossing the exchange, NCB Financial Group declined 16 cents, ending at a 52 weeks’ low of $5.50 with an exchange of 500 units. Republic Financial Holdings lost 2 cents to end at $141 after 2,530 stocks crossed the market, Scotiabank advanced 2 cents in closing at $77.99 with the swapping of 8,591 units, Trinidad & Tobago NGL dipped 1 cent to $20.99 in exchanging 6,218 shares and Unilever Caribbean shed $1.18 to a 52 weeks’ low of $12.61, with 6,515 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stock split to lift Fosrich to 3rd largest
Fosrich proposed 10 to 1 stock split will lift the issued shares to the third highest in Jamaica with 5 billion shares and make by far the company with the largest number of issued shares on Junior Market if shareholders approve the split as proposed.
Only Wigton Windfarm with 11 billion issued shares and Transjamaican Highway with 12.5 billion will be ahead of Fosrich. The next closes will be Sagicor Group with 3.9 billion issued shares.
Shareholders of Fosrich at the Annual General Meeting scheduled to be held on June 21 will consider increasing the authorised share capital of the company from 512,821,000 to 15 billion by the creation of an additional 14,487,179,000 ordinary shares.
The shareholders are asked to approve the splitting of issued shares into 10 units with effect from the close of business on July 6. If approved will result in the total issued shares being increased to 5,022,755,550 ordinary shares of no par value.”
The Company is requesting authorisation to issue up to 126 million shares by way of a Rights Issue to existing stockholders and or the public, on terms to be decided by the directors.
The company expanded into the manufacturing of PVC pipes and the repairs of transformers, resulting in a big surge in revenues and profits that helped in fueling the stock price to a high of $38 this year from just $7.20 a year ago.
Or the quarter to March this year revenues jumped a solid 64 percent to $900 million and profit surged 314 percent to $159 million, with earnings per share of 32 cents.
Slippage for the JSE USD market
The volume of stocks trading jumped 176 percent with the value surging 278 percent above trading on Monday at the close of the Jamaica Stock Exchange US dollar market on Tuesday, resulting in five securities traded, down from seven on Monday with one rising, three declining and one ending unchanged.
The JSE US Denominated Equities Index lost 1.51 points to close at 218.97.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending, up to August 2023.
Overall, 89,436 shares traded, for US$15,551 compared to 32,360 units at US$4,111 on Monday. Trading averaged 17,887 units at US$3,110, compared to 4,623 shares at US$587 on Monday, with the month to date average of 95,583 shares at US$4,396 versus 101,214 units at US$4,489 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows one ended with a bid higher than the last selling prices and two stocks with lower offers.
At the close, First Rock Capital USD share dropped 0.1 of a cent in ending at 7.4 US cents with the swapping of 102 shares, Proven Investments fell 1.23 cents to 25.02 US cents in an exchange of 58,051 stock units, Sygnus Credit Investments USD share rallied 0.39 of one cent to close at 12.39 US cents with 3,284 units crossing the exchange and Transjamaican Highway ended unchanged at 0.98 US cents after trading of 27,998 stocks.
In the preference segment, JMMB Group 6% declined 3 cents to end at US$1.05, with one unit changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Dolla list Wednesday
The shares of Dolla Financial that was the subject of an Initial Public Offering will be listed on the Jamaica Stock Exchange Junior Market on Wednesday morning after increasing the number of shareholders to 14,981 as a result of the IPO.
The stock offered to the market at $1 each was heavily oversubscribed, with investors getting around four percent on average of the shares applied from the Public Pool. This publication expects moderate trading on the opening day with the price set to hit $1.30 but should see pretty spirited trading on Thursday when the price could well exceed the usual 30 percent one day limitation for price movement.
Around 40,000 applicants were received for the issue, of 500 million shares, information gleaned from persons close to the issue. The trading symbol will be Dolla, the same as the name.
Stocks fall on Trinidad Stock market
Market activity ended on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded falling 84 percent and the value dropping 41 percent below Monday’s trade.
A total of 17 securities traded sharply down from 25 on Monday, with three rising, nine declining and five remained unchanged. The Composite Index fell 2.77 points to 1,397.04, the All T&T Index lost 1.58 points to close at 2,049.95 and the Cross-Listed Index declined 0.57 points to 97.76.
A total of 349,060 shares traded for $7,422,516 versus 2,158,002 units at $12,679,084 on Monday. An average of 20,533 units traded at $436,619 compared to 86,320 shares at $507,163 on Monday, with trading month to date averaging 63,626 units at $551,170 versus 67,741 units at $562,111. The average trade for May amounts to 45,890 units at $370,328.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and one with a lower offer.
At the close, Angostura Holdings remained at $23 with the swapping of 41 shares, Ansa McAl slipped 1 cent to $56.94 after exchanging 3,800 units, Calypso Macro Investment Fund shed 25 cents to end at $19.25 after trading 2,000 stocks. Clico Investment Fund declined 99 cents to $28, with 1,914 stock units changing hands, First Citizens Group ended at $50 in exchanging 8,450 shares, FirstCaribbean International Bank finished at $5.18 while exchanging 500 stock units. GraceKennedy popped 5 cents to $5.55 in an exchange of 40 units, Guardian Holdings ended at $27.31 after 8,060 stocks crossed the exchange, JMMB Group dropped 10 cents to $2.30, trading 114,444 shares. Massy Holdings lost 1 cent in closing at $5.19 with an exchange of 21,258 stock units, National Enterprises inched 1 cent higher to $3.25, with 56,249 stocks crossing the market, NCB Financial Group shed 1 cent to end at $5.66 in switching ownership of 3,534 units. Republic Financial Holdings finished at $141.02 after trading 25,868 stock units, Scotiabank dipped 3 cents to $77.97 with an exchange of 1,863 shares, Trinidad & Tobago NGL rallied 18 cents to close at $21 in trading 96,236 stocks. Unilever Caribbean dipped 1 cent to $13.79 with 2,779 units clearing the market and West Indian Tobacco fell 5 cents to close at $23.30, with 2,024 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.