Stocks rose on the Jamaica Stock Exchange Main Market on Friday, with the volume of stocks trading declining 64 percent, with 97 percent lower value than on Thursday as rising stocks exceeded those declining, but the market closed with the IC bid-offer Indicator flashing short term negative signals.
The All Jamaican Composite Index gained 2,638.98 points to settle at 442,875.20, the JSE Main Index climbed 2,141.50 to 386,327.32 and the JSE Financial Index added 0.11 points to settle at 91.51.
Trading ended with 53 securities compared to 55 on Thursday, with 24 rising, 17 declining and 12 ending unchanged.
The PE Ratio, a formula to ascertain appropriate stock values, averages 15 for the Main Market. 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, 13,174,872 shares were exchanged for $66,091,370 versus 36,352,680 units at $2,054,073,702 on Thursday. Trading averages 248,582 units at $1,247,007, compared to 660,958 shares at $37,346,795 on Thursday. June closed with an average of 281,913 units at $5,309,050.
Ciboney Group led trading with 2.89 million shares for 22 percent of total volume, followed by Radio Jamaica with 2.70 million units for 20.5 percent of the day’s trade and Sagicor Select Financial Fund with 2.59 million units for 19.7 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and 11 stocks with lower offers.
At the close, Berger Paints added 70 cents in ending at $12.20, with 337 shares crossing the market, Caribbean Cement lost $2.50 to end at $64.50, with 20,215 stocks changing hands, Eppley fell 50 cents in closing at $44.50 after trading 175 stock units. First Rock Capital declined $1.55 to close at $11.75 while exchanging 5,681 units, Guardian Holdings rallied $16.99 to $519.99, with 1,654 shares crossing the exchange, Jamaica Producers advanced 45 cents to $22.45 trading 2,595 units. JMMB Group climbed $1.90 to close at $43.65 closed at 59,098 stock units, Key Insurance dropped 52 cents to end at $3.38 with the swapping of 2,005 stocks, Massy Holdings gained $1.30 after ending at $93 in exchanging 55,872 stocks. Mayberry Jamaican Equities popped 85 cents in closing at $13.85 with an exchange of 602 shares, Palace Amusement rose $45 to $945 with 23 stock units clearing the market, PanJam Investment climbed 98 cents in closing at $65.98 in an exchange of 138,936 units. Proven Investments rose $1.27 to close at $37.29 after exchanging 22,727 units, Radio Jamaica rallied 50 cents in ending at $2.90 after 2,700,500 stock units were exchanged, Scotia Group rose 45 cents to $36.50 in switching ownership of 1,039 shares.
Seprod shed 70 cents in closing at $71.25, with 4,408 stocks crossing the exchange, Supreme Ventures increased 75 cents to close at $31.45 after exchanging 327,481 units and Sygnus Real Estate Finance recovered from the sharp fall on Thursday by gaining $1.26 to end at $12.51 in switching ownership of 501 shares.
In the preference segment, Eppley 7.25% preference share popped $1.94 to $21.99 after trading 2 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Winners & losers split JSE USD market
Trading pulled back on Friday, from Thursday levels with the volume of stocks traded declining 66 percent less and the value 70 percent lower at the close of the Jamaica Stock Exchange US dollar market, resulting in an even number of stocks rising than declining.
A total of 10 securities traded, up from six on Thursday with four rising, four declining and two ending unchanged.
Overall, 85,406 shares traded, for US$14,539 versus 252,463 units at US$48,827 on Thursday. Trading averaged 8,541 units at US$1,454, down from 42,077 shares at US$8,138 on Thursday. June ended with an average of 71,901 units for US$8,793.
The JSE US Denominated Equities Index gained 2.44 points to end at 214.09.
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.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital USD share rallied 0.79 of a cent to 7.84 US cents in trading 210 shares, MPC Caribbean Clean Energy remained at US$1.38, with 21 stock units crossing the market, Productive Business Solutions increased 1 cent to US$1.15 after just one stock crossed the exchange. Proven Investments shed 0.22 of a cent to close at 24.75 US cents in exchanging 58,539 units, Sterling Investments declined 0.02 of a cent to close at 2.1 US cents with 8,471 stock units clearing the market, Sygnus Credit Investments USD share fell 0.5 of a cent in closing at 12 US cents with an exchange of 3,614 units. Sygnus Real Estate Finance USD share ended at 12 US cents and 72 shares changed hands and Transjamaican Highway lost 0.04 of a cent to close at 0.96 of one US cent and closed, with 14,424 stocks trading.In the preference segment, JMMB Group 5.75% advanced 5 cents to end at US$2.30 trading one unit and JMMB Group 6% rallied 5 cents to US$1.10 in an exchange of 53 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading falls sharply for Jamaican stocks
Trading ended mixed on the Jamaica Stock Exchange on Friday, with main market stocks gaining and Junior Market stocks mostly falling as trading levels fell from Thursday’s levels.
The market closed with the JSE Combined Index climbing 1,890.52 points to 400,219.74 while the All Jamaican Composite Index added 2,638.98 points to end at 442875.20, the JSE Main Index gained 2,141.50 points to 386,327.32, the Junior Market index slipped 12.41 points to 4,337.03 and the JSE USD market index rose 2.44 points to close at 214.09.
Investors exchanged 21,788,058 shares in all markets, with the value traded in the Main and Junior Markets ending at just $96 million and in the JSE USD market, US$14,539.
The market’s PE ratio ended at 24 based on 2021-22 earnings and 13.2 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate 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 decision-making.
Investors should use the chart to help make rational investment decisions by 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 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 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.
Fall for JSE USD stocks at the 2022 midpoint
Trading ended with increased activity in the Jamaica Stock Exchange US dollar market, to close out the half year with a rise of 8.2 percent as the volume of stocks traded rose 11 percent with a 14 percent higher value than on Wednesday and increased stocks edging out losing ones.
A total of 252,463 shares were traded for US$48,827 against 227,317 units at US$42,677 on Wednesday. Trading averaged 42,077 units at US$8,138, compared to 45,463 shares at US$8,535 on Wednesday, with a month to date average of 71,901 shares at US$8,793 versus 73,102 units at US$8,820 on the previous day. May ended with an average of 47,916 units for US$3,528.
Six securities traded up from five on Wednesday, with two rising, one declining and three ending unchanged. The JSE US Denominated Equities Index lost 5.91 points to end at 211.65.
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.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and none with a lower offer.
At the close of market activities, Productive Business Solutions ended at US$1.14 after trading 174 shares, Proven Investments declined 1.03 cents to 24.97 US cents with an exchange of 213,276 units, following the release of full year results to March this year and Sterling Investments ended unchanged at 2.12 US cents in trading 10,750 stocks. Sygnus Credit Investments USD share remained at 12.5 US cents while exchanging 1,290 stock units, Sygnus Real Estate Finance USD share popped 2 cents to close at 12 US cents with an exchange of 400 shares and Transjamaican Highway rallied 0.05 of a cent to end at 1 US cent, with 26,573 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.