The market indices raced to big gains of more than 5,000 points in the first hour of trading on the Jamaica Stock Exchange Main Market on Wednesday but gave up a few thousand points before ending trading up by more than 3,000 points, although declining stocks outnumbered rising ones, almost two to one.
At the close, the All Jamaican Composite Index advanced by 3,396.16 points to 432,332.67, the Main Index climbed 3,018.17 points to 394,446.38 and the JSE Financial Index rose 0.33 points to settle at 103.44.
Trading ended with 42 securities changing hands compared to 45 on Tuesday and closed with the prices of 13 stocks rising, 24 declining and five remaining unchanged. The average PE Ratio ends at 15.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 73 percent fewer shares than on Tuesday as 12,512,087 shares traded for $330,562,424 compared to 46,789,600 units at $269,845,318 on Tuesday. Barita Investments led trading with 25.9 percent of total volume, after exchanging 3.24 million shares, followed by Transjamaican Highway with 19.4 percent of the day’s trade for 2.42 million units, Wigton Windfarm with 14.9 percent market share for 1.87 million units for 14.9 percent market share and QWI Investments accounted for 9.1 percent with 1.14 million units.
Trading averaged 297,907 units at $7,870,534 for each security, compared to 1,039,769 shares at $5,996,563 on Tuesday. The average trade for the month to date is 385,494 units at $7,053,566 for each security, compared to 390,690 units at $7,005,102 on Tuesday. October averaged 398,200 units at $4,622,532.
Investor’s Choice bid-offer indicator reading shows 10 stocks ending with bids higher than their last selling prices and none with lower offers.
At the close of the market, Berger Paints gained 65 cents to settle at $12.50, after exchanging 33,647 shares, Caribbean Cement lost $1.40 to close at $59.50, in trading 13,540 units, Eppley Caribbean Property Fund declined $4 to end at $40, with an exchange of 6,076 stock units. Grace Kennedy climbed $2.08 to $63.08, trading 47,479 shares, Jamaica Broilers shed 82 cents to $27.08 after swapping 36,110 shares, Jamaica Producers fell $1.71 to $20.03 after transferring 1,900 units. Jamaica Stock Exchange shed 90 cents to end at $19, with an exchange of 13,464 stocks, JMMB Group lost 65 cents to end at $32.35, in clearing the market with 127,898 shares, Kingston Wharves declined $3.15 to $45.70 trading 17,400 stock units. Mayberry Investments fell $1.05 to $5.95 after exchanging 40,850 stocks, MPC Caribbean Clean Energy climbed $11.99 to close at $150 after trading 292 units, NCB Financial gained 90 cents to end at $146, with 10,623 shares changing hands.
Pan Jam Investment finished at $67.10, with gains of 60 cents after clearing the market with 18,832 units, Proven Investments lost 36 cents to settle at $38.68, with the swapping of 14,106 stock units, Pulse Investments ended at $4.58 after losing 31 cents and exchanging 443,745 shares. Salada Foods fell $1 to $28, in transferring 24,249 stock units, Scotia Group declined $1.71 to $45.14, in clearing the market with 11,685 units, Seprod shed 50 cents to settle at $64, with 1,163 stocks passing through the market. Sterling Investments gained 50 cents to end at $3.70, with the switching of 330 units, Supreme Ventures gained 48 cents to finish at $16.48 after trading 162,359 shares and Wisynco Group closed 49 cents higher at $16, with 437,353 stocks passing through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with 14 securities trading, down from twenty on Tuesday, and ended with six stocks advancing, two declining and six remaining unchanged. Trading resulted in 40,527 shares for $676,306 compared to 236,245 shares valued $3,864,740 on Tuesday.
Stocks declining│ Prestige Holdings shed 25 cents to $7.25, with an exchange of 25 units and Republic Financial Holdings slipped 1 cent trading 22 units to finish at $135.99.
At the close, the All Jamaican Composite Index climbed 2,982.72 points to 428,936.51, the Main Index rose 2,680.31 points to 391,428.21 and the JSE Financial Index gained 0.29 points to settle at 103.11.
Trading averaged 1,039,769 units changing hands at $5,996,563 for each security, compared to an average of 678,428 shares at $4,062,730 on Monday. Trading for the month to date averaged 390,690 units at $7,005,102 for each security, versus 346,635 units at $7,073,555 on Monday. October averaged 398,200 units at $4,622,532.
Mayberry Investments ended $1.38 higher at $7 trading 50,100 shares, Mayberry Jamaican Equities gained 93 cents to finish at $7.93, with investors swapping 30,167 stock units, NCB Financial fell $3.40 to $145.10, with an exchange of 18,559 shares. Palace Amusement declined $200 to end at $1,100, in trading 5 stock units, Pan Jam Investment rose $1.50 to $66.50, after exchanging 2,067 stock units, Proven Investments gained 79 cents to close at $39.04, trading 2,785 units. Sagicor Group advanced $2 to $50 and ending with an exchange of 309,520 shares, Salada Foods climbed $4 to close at $29, trading 7,008 units, Seprod gained $1.50 to end at $64.50 after exchanging 19,273 stock units and Sterling Investments lost 50 cents to close at $3.20 transferring 255,264 shares.
One Caribbean Media lost 3 cents trading 2,000 units to close at $4.82, Republic Financial Holdings declined by $2.50 to settle at $136, in transferring 1,390 units. Scotiabank slipped 25 cents to $54, in exchanging 10,000 stock units, Trinidad and Tobago NGL lost 50 cents to a 52 weeks’ low of $14.50 trading 3,310 units and West Indian Tobacco fell 94 cents to $32.50, with 3,959 units changing hands.
At the close, the All Jamaican Composite Index rose 204.81 points to 425,953.79, the Main Index advanced by 284.47 points to 388,747.9 and the JSE Financial Index gained 0.31 points to settle at 102.82.
Transjamaican Highway controlled a 12.7 percent market share with 3.54 million units and Sagicor Select Manufacturing & Distribution Fund accounted for 3.6 percent of the day’s trade in closing with one million units changing hands.
Mayberry Jamaican Equities shed 80 cents to settle at $7, after transferring 3,098 units, NCB Financial declined $1.48 to$148.50, in crossing the exchange with 714,826 shares, Palace Amusement climbed $34.99 to $1,300, with 2 units changing hands. Salada Foods fell $2.50 to $25, with 5,139 stock units crossing the market, Scotia Group rose 85 cents to end at $46.85, exchanging 10,778 shares and Seprod gained $1 to close at $63 trading 19,472 stock units.
Stocks rose to their highest level since mid-April on the Jamaican Stock Exchange Main Market in the past week, during the past week the Junior Market traded at the highest level in seven weeks, with moves in both markets confirming the bullish signal technical indicators been flashing for weeks.
Eppley lost its Main Market TOP 10 position with the price moving up from $18.97 to $20.02 and is replaced by Jamaica Producers.
The JSE Main Market ended the week, with an overall PE of 15.3 and the Junior Market 13.7, based on ICInsider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere 7.2 at just 53 percent to the average of the Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.7 or 57 percent of the PE of that market.
Transjamaican Highway controlled 4 percent market share, with 1.78 million units Sagicor Select Financial Fund accounted for 3.7 percent with 1.65 million units and Wigton Windfarm controlled 3.5 percent of the market with 1.57 million units.
MPC Caribbean Clean Energy dropped $7.01 in closing at $138 trading 836 units, Pan Jam Investment closed at $65, with gains of $1.76, trading 147,995 shares, Proven Investments shed 50 cents in closing at $38, with 10,286 stock units changing hands. Sagicor Group finished at $48, after losing 50 cents exchanging 151,507 shares and Scotia Group rose 80 cents to settle at $46 trading 5,512 units.
Stocks declining│Ansa McAL lost 2 cents exchanging 25,200 shares to end at $48.48, Clico Investments closed 5 cents lower at $25 trading 46,827 shares, Republic Financial Holdings declined by $6.24, with 1,642 units changing hands, to close at $132.76 and Scotiabank shed 25 cents to end at $54.10, with 525 units crossing the market.
At the close, the All Jamaican Composite Index dropped 2,741.60 points to 424,462.68, the Main Index fell by 2,536.99 points to 387,308.51 and the JSE Financial Index lost 0.60 points to settle at 102.63.
Trading averaged 263,137 units changing hands at $9,978,750 for each security, compared to 366,759 shares at $16,456,068 on Wednesday. Month to date average trade ends at 267,957 units at $5,429,235 in contrast to 268,282 units at $5,122,619 on Wednesday. Trading for October averaged 398,200 units at $4,622,532.
Jamaica Stock Exchange rose 68 cents to settle at $19, with investors switching ownership of 36,204 shares, Kingston Wharves dropped $3.90 to $45 in trading 55,000 shares, Palace Amusement dived $34.99 to $1,265.01, in an exchange of 42 units. Pan Jam Investment shed 76 cents to end at $63.24 after trading 5,898 units, Proven Investments settled at $38.50, with gains of $1.64, in clearing the market with 2,642 units, Sagicor Group gained 40 cents to close at $48.50, with 38,536 shares crossing the exchange. Seprod ended at $62, with a loss of 50 cents trading 5,503 units and Supreme Ventures rose 55 cents to $15.90, with an exchange of 26,291 stock units.
