Market activity on Monday on the Jamaica Stock Exchange Main Market ended Tuesday, with the volume of stocks traded rising 163 percent and the value 285 percent more than Monday as rising stocks exceeded those declining by a wide margin.
The All Jamaican Composite Index rallied 2,316.94 points to settle at 450,438.19, the JSE Main Index and the JSE Financial Index advanced 0.31 points to settle at 93.97.
Some 53 securities traded compared to 54 on Monday, with 34 rising, ten declining and nine ending unchanged.
The PE Ratio, a formula used for computing appropriate stock values, averages 14.7. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 19,187,062 shares traded for $194,339,772 versus 7,299,070 units at $50,442,185 on Monday. Trading averages 362,020 units at $3,666,788, compared to 135,168 shares at $934,115 on Monday and month to date, an average of 238,645 units at $3,561,016, compared to 232,770 units at $3,558,980 on the previous trading day. April averaged 532,209 units at$5,709,319.
JMMB Group 7.5% preference share led trading with 10.52 million units for 54.8 percent of total volume, followed by Supreme Ventures with 1.43 million shares for 7.4 percent of the day’s trade, Transjamaican Highway ended with 1.32 million units for 6.9 percent market share and Caribbean Producers exchanged 1.02 million units for 5.3 percent market share.
Investor’s Choice bid-offer indicator shows 17 stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Barita Investments rallied 35 cents to end at $88 with an exchange of 123,555 shares, Berger Paints advanced $1.37 to $12, with just 84 units crossing the exchange, Caribbean Cement rose $4.45 to $68.45 after 31,606 stock units passed through the market. Caribbean Producers rallied 87 cents to $15.65 in switching ownership of 1,023,013 stocks, Carreras increased 40 cents to $9.90 after 294,229 units changed hands, Eppley dropped $6.23 to $40, with 4,028 stocks crossing the market. Eppley Caribbean Property Fund popped $1 to $45 while exchanging 5,325 shares, First Rock Capital climbed 45 cents in closing at $12.50 in an exchange of 915 stock units, GraceKennedy rose $3 to close at $110.50 as 12,469 shares changed hands. Guardian Holdings advanced $15 to end at $535, trading 3,909 stock units, Jamaica Broilers rallied 50 cents to close at $28.50 after exchanging 23,170 units, Jamaica Producers gained 50 cents in ending at $22.50 with the swapping of 2,337 stocks. Jamaica Stock Exchange popped 50 cents to $19, with 95,847 shares changing hands, Massy Holdings shed $3 in closing at $95 after exchanging 29,647 units, Mayberry Investments increased 35 cents to end at $10.45, with 317,126 stocks clearing the market. MPC Caribbean Clean Energy lost $3 after finishing at $102 in exchanging 48 stock units, NCB Financial fell 40 cents to $106 in trading 51,458 shares, Palace Amusement climbed $3.95 to close at $923.95 in exchanging 11 units. Proven Investments increased $2.24 to end at $38.99 after trading 2,183 stock units, Supreme Ventures climbed 49 cents in closing at $29.50, with 1,425,406 stocks clearing the market, Sygnus Credit Investments advanced $1.10 to end at $15.90 trading 130,918 shares and Sygnus Real Estate Finance rallied $1.54 in closing at $15.54 in trading 7,000 stock units.
In the preference segment, Jamaica Public Service 9.5% popped by $1 to close at $3000 after just one unit changed owners and Productive Business Solutions 9.75% preference share declined by $2 in, ending at $105 with an exchange of 774 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for the JSE USD market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks traded rising 562 percent and the value falling 57 percent lower than on Monday, resulting in nine securities traded, compared to 10 on Monday with one rising, four declining and four ending unchanged.
The JSE US Denominated Equities Index gained 6.66 points to end at 214.72.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratios incorporate earnings forecasted by ICInsider.com for companies with financial year ending, up to August 2023.
A total of 841,912 shares traded for US$21,187 compared to 127,202 units at US$49,782 on Monday.
Trading averaged 93,546 units at US$2,354, compared to 12,720 shares at US$4,978 on Monday, with a month to date average of 47,916 shares at US$3,528 versus 45,684 units at US$3,586 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share shed 0.95 of a cent in closing at 7 US cents in an exchange of 15,332 shares, Margaritaville traded 6 units at 15 US cents, Productive Business Solutions remained at US$1 trading 3 stock units. Proven Investments ended unchanged at 26 US cents after exchanging 19,643 stocks, Sterling Investments fell 0.15 of a cent to close at 2 US cents while exchanging 145,442 shares, Sygnus Credit Investments USD share remained at 12.7 US cents in exchanging 45,843 stocks. Sygnus Real Estate Finance USD share dropped 0.49 of one cent in closing at 12 US cents, with 2,381 units changing hands and Transjamaican Highway advanced 0.02 of a cent to close at 0.96 of one US cent and closed with 613,161 stock units changing hands.
In the preference segment, JMMB Group 6% lost 8.77 cents to close at US$1.0123 with an exchange of 101 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE recovery continues from last week’s losses
Stocks recorded gains at the close of trading on Tuesday on the Jamaica Stock Exchange, as the markets continued to benefit from the return of some level of normality following the sell off leading to the Tuesday last week. The buoyancy in trading is reflected in the rise of the JSE Combined Index by 2,497.38 points to close at 406,578.74.
The All Jamaican Composite Index climbed 2,316.94 points to 450,438.19,the JSE Main Index added 2,129.19 points to close at 394,412.57, the Junior Market gained 56.75 points to close at 4,203.09 and the JSE USD market index popped 6.66 points to 214.72.
Investors exchanged 29,854,870 shares in all markets, with the value of stocks traded in the Main and Junior markets amounting to $248.55 million and in the JSE USD market, US$$21,187.
The market’s PE ratio ended at 24.6 based on 2021-22 earnings and 13.1 times those for 2022-23 at the close of trading.
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 and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use 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. 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. 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 ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide 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 payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the 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.
Slippage for JSE USD stocks
On the Jamaica Stock Exchange US dollar market, trading on Monday ended with the volume of stocks traded rising 239 percent and the value jumping 6,746 percent above trading on Friday, resulting in more stocks falling than rising.
A total of 10 securities traded, up from seven on Friday, with one rising, four declining and five were left unchanged. The JSE US Denominated Equities Index slipped 1.72 points to end at 208.05.
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 financial years ending, up to August 2023.
Overall, 127,202 shares were traded for US$49,782 compared to 37,542 units at US$727 on Friday. Trading averaged 12,720 units at US$4,978, compared to 5,363 shares at US$104 on Friday, with a month to date average of 45,684 shares at US$3,586 versus 47,579 units at US$3,506 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share remained at 7.95 US cents in exchanging 13,057 shares, Margaritaville ended unchanged at 15 US cents in an exchange of 6 stocks, Proven Investments lost 0.5 of a cent to end at 26 US cents with 43,887 units changing hands. Sterling Investments popped 0.1 of a cent in closing at 2.15 US cents with one unit clearing the market, Sygnus Credit Investments USD share ended at 12.7 US cents while exchanging 2,825 stocks, Sygnus Real Estate Finance USD share declined 0.01 of a cent to 12.49 US cents after trading one stock unit and Transjamaican Highway fell 0.02 of a cent to end at 0.94 of one US cent after exchanging 46,418 shares.
In the preference segment, Equityline Mortgage Investment preference share ended unchanged at US$1.70 with an exchange of one unit, JMMB Group 5.75% shed 29 cents in closing at US$2.03 with the swapping of 15,003 shares and JMMB Group 6% finished at US$1.10 trading 6,003 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More bounce for the Jamaica Stock Exchange
Stocks bounced again at the close of trading on Monday on the Main and Junior and Main Market of the Jamaica Stock Exchange, accompanied by low volume, but slipped on the JSE USD Market resulting in the JSE Combined Index bouncing 4,415.18 points to close at 404,081.36.
The All Jamaican Composite Index jumped 4,305.03 points to 448,121.25, the JSE Main Index added 4,466.69 points to close at 392,283.38, the Junior Market of the Jamaica Stock Exchange gained 26.29 points to close at 4,146.34 and the JSE USD market index slipped 1.72 points to 208.05.
Investors exchanged 14,390,470 shares in all markets, with the value of stocks traded in the Main and Junior Markets amounting to a mere $79.2 million and in the JSE USD market, US$49,782.
The market’s PE ratio ended at 24.3 based on 2021-22 earnings and 13.1 times those for 2022-23 at the close of 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 and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use 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. 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. 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 ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide 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 payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the 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.
$10 billion chased Dolla IPO
Some $10 billion is said to have chased after the 500 million shares at $1 each, offered in the Initial Public offer in Dolla Financial from approximately 10,000 applications, ICInsider.com has been advised by persons who would be in a place to know.
This could mean that each applicant may end up with an average of approximately eight percent of which they applied if over 40,000 shares.
The issue that was clearly very popular and oversubscribed closed at 4.30 on Friday, the same day of opening.
The shares are slated for listing on the Junior Market of the Jamaica Stock Exchange and are expected to more than double based on the earnings for the first quarter to March this year, with profit before tax of $66 million up from $17 million in 2021 and the high level of oversubscription.
The company reported an audited profit of $129 million after taxation of $38 million for 2021, from revenues of $379 million and ended with shareholders’ equity of $315 billion.
Dolla IPO oversubscribed and closed
The Initial Public offer of shares in Dolla Financial was oversubscribed and closed at 4.30 on Friday, the same day that the issue opened.
The issue comprised 500 million shares of $1 each with the shares slated for listing on the Junior Market of the Jamaica Stock Exchange. A very popular issue that is expected to be heavily oversubscribed, with the stock expected to more than double based on the earnings for the first quarter to March this year, with profit before tax of $66 million up from $17 million in 2021.
When listed it will bring the total Junior Market listings to 46, with three listings for the year to date and the total number of ordinary shares to be listed on that market to 50, with one failure and three migrating to the Main Market.