Investors seem to accept that shares of Junior Market companies offered to the public will be oversubscribed and would go on to hit the circuit breaker of the first day of trading and take a few trading days before liquidity starts to emerge and deliver significant gains. The latest listing on the market that was oversubscribed was not greeted with the euphoria usually associated with IPOs and struggled on debut, with heavy trading in the stock.
Since 2019, the Junior Market added 13 new listings, with Image Plus Consultants being the last with its listing on Friday. Trading was unusually heavy on the first day with an exchange of 12.4 million units, accounting for 61.3 percent of the day’s trade with the price moving 10 percent to $2.20 from a listed price of $2. Image Plus although significant for a first trade is not the largest volume for an opening day.
The biggest volume on debut belongs to Future Energy that rose 32.5 percent after trading 19.68 million shares and never got a second leg in April when it listed and remained around the closing price for all of month. JFP rose 31 percent on the first day with 10.19 shares trading. Tropical Battery rose 29 percent on the first day with 5.76 million shares traded, with all of the others trading less than 356,000 units, with the lowest being a mere 100 shares for Limners and Bards, with a first day price gain of 30 percent.
The worst performing stock since 2019 is iCreate with a rise of 8 percent on the first day. All other stocks gained between 30 percent and 32.5 percent on the first trading day.
Trading value surges on JSE Main Market
Trading ended with a 27 percent decline in the volume of stocks passing through the Jamaica Stock Exchange Main Market on Friday, with the value rising 292 percent over Thursday and ended with trading in 51 securities down from 56 on Thursday, with 21 rising, 20 declining and 10 ending unchanged.
A total of 9,464,712 shares were exchanged for $128,636,676 versus 12,878,672 units at just $32,824,074 on Thursday.
Trading averaged 185,583 shares at $2,522,288 versus 229,976 shares at $586,144 on Thursday and month to date, an average of 144,740 units at $1,455,847 compared with 141,929 units at $1,382,448 on the previous day. December closed with an average of 604,110 units at $4,072,598.
Wigton Windfarm led trading with 3.84 million shares for 40.6 percent of total volume followed by Sagicor Select Financial Fund with 1.05 million units for 11.1 percent of the day’s trade and Transjamaican Highway with 964,522 units for 10.2 percent market share.
The All Jamaican Composite Index dipped 921.76 points to 386,062.55, the JSE Main Index declined 214.32 points to 340,731.16 and the JSE Financial Index slipped 0.23 points to settle at 81.28.
The PE Ratio, a formula to ascertain appropriate stock values, averages 15.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments declined 92 cents to $90.09 in exchanging 4,562 shares, Berger Paints fell $1.15 in closing at $9.50 with investors transferring 1,199 stock units, Caribbean Producers rallied 60 cents to end at $11.50 with an exchange of 7,712 units. Eppley advanced $1.88 to $40.88 after trading 1,150 stocks, Eppley Caribbean Property Fund climbed $6.50 ending at $49.50 after a transfer of 20 shares, First Rock Real Estate gained 88 cents to close at $12.80 after 12 stocks crossed the market. 
GraceKennedy shed $1.05 to finish at $79 with the swapping of 185,510 units, Jamaica Producers lost 89 cents to end at $20 after an exchange of 152,479 stock units, JMMB Group popped 51 cents to close at $34.40 as investors traded 63,698 shares. Kingston Wharves dipped 48 cents to $34.52 with 1,560 stocks changing hands, Mayberry Investments rose 87 cents to $8.87 with a transfer of 8,489 units, Mayberry Jamaican Equities dropped $1.10 to close at $11.90 in trading 35,760 stock units. NCB Financial shed $1.40 after ending at $78.60 in switching ownership of 132,060 shares, 138 Student Living rallied 65 cents to close at $4.97 after 190 stocks cleared the market, Palace Amusement traded 252 shares with a gain of 2 cents to close at a 52 weeks’ high of $2,100, PanJam Investment declined $3.09 in closing at $55.01 with the swapping of 16,506 units. Seprod advanced $1.54 to $68.99 after an exchange of 11,020 stock units, 
Sygnus Credit Investments dipped 42 cents to end at $12.58 with 41,177 shares changing hands and Sygnus Real Estate Finance rose $1.35 to close at $10.35 in switching ownership of 4,253 stock units.
In the preference segment, Eppley 7.50% preference share shed 98 cents in closing at $5.62 in exchanging 25,000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD stocks dip on increased volume
Trading activity jumped on the Jamaica Stock Exchange US dollar market on Friday, with the volume of stocks changing hands rising 54 percent valued 241 percent more than on Thursday, resulting in the trading of seven securities, compared to eight on Thursday with three rising, four declining and no ending unchanged.
Overall, 590,378 shares were traded for US$81,708 compared with 384,296 units at US$23,978 on Thursday.
Trading averaged 84,340 units at US$11,673 versus 48,037 shares at US$2,997 on Thursday, with a month to date average of 37,630 shares at US$3,714 up from 34,657 units at US$3,207 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index dipped 0.89 points to end at 218.24.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 10.1. The PE ratio uses ICInsider.com earnings forecasts for companies with the financial year between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share inched 0.01 of a cent higher to 7.01 US cents 20,150 shares crossing the exchange, Proven Investments shed 1 cent to close at 19 US cents in an exchange of 385,657 stock units, Sterling Investments rose 0.04 of a cent to 1.99 US cents after trading 500 units. 
Sygnus Credit Investments USD share dropped 0.2 of a cent to 9.5 US cents with the swapping of 45,995 stocks, Sygnus Real Estate Finance USD share dipped 0.02 of a cent in closing at 10.98 US cents in an exchange of 73 shares and Transjamaican Highway fell 0.04 of a cent to 0.91 of one US cent in switching ownership of 138,000 stock units.
In the preference segment, Productive Business 9.25% preference share gained 45 cents in ending at US$11 with a transfer of just three stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Image Plus pushes Junior Market trading
Shares of the last Initial Public Offer in 2022, Image Plus Consultants, were listed on the Junior Market of the Jamaica Stock Exchange on Friday bringing the number of companies on the market to a record 48. The company’s shares dominated trading with just over 61 percent of the total volume of stocks traded, pushing the volume of stocks trading in the market 77 percent higher, with a 68 percent rise in the value compared to Thursday.
Trading in 46 securities on Friday, compares to 45 on Thursday and resulted in prices of 20 rising, 15 declining and 11 left unchanged and led to an exchange of 20,295,875 shares for $50,102,944 compared to 11,460,696 units at $29,877,310 on Thursday.
Trading averaged 441,215 shares at $1,089,194, from 254,682 units at $663,940 on Thursday, with the month to date, averaging 205,980 stocks at $525,918 compared with 187,355 shares at $481,322 on the previous day. December closed with an average of 333,420 units at $925,533.
Image Plus Consultants led trading with 12.44 million shares for 61.3 percent of total volume followed by Express Catering with 1.27 million units for 6.3 percent of the day’s trade, Regency Petroleum with 1.16 million units for 5.7 percent market share and JFP Ltd with 1.12 million units for 5.5 percent market share.
At the close, the Junior Market Index popped 30.02 points to settle at 3,993.91, ending the week much higher than at the close of the previous one.
The PE Ratio, a measure of computing appropriate stock values, averages 12.7. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for the financial year that falls between November last year and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Blue Power rose 29 cents to $2.90 after an exchange of 15,339 shares, Caribbean Cream shed 65 cents to close at $3.20 with 32,014 units changing hands, Consolidated Bakeries popped 34 cents to end at $2.15 in transferring 164,626 stocks. Dolphin Cove dipped 10 cents to $15.20 after 41,594 stock units passed through the market, Express Catering gained 50 cents ending at $5.50 with an exchange of 1,270,658 stocks, Future Energy Source popped 7 cents to settle at $4.85 in trading 348,162 units. 
Honey Bun shed 13 cents to close at $7.02 with the swapping of 31,125 stock units, newly listed Image Plus Consultants rallied 20 cents to end at a record closing high of $2.20 with investors transferring 12,439,670 shares, Indies Pharma lost 17 cents in closing at $2.70 with 2,032 shares changing hands. Iron Rock Insurance gained 25 cents to end at $2.40 after trading 22,599 stock units, Knutsford Express advanced 47 cents to $12.49 after a transfer of 15,192 stocks, Lasco Financial lost 8 cents in closing at $2.60 after an exchange of 4,542 units. Lasco Manufacturing rose 37 cents to $4.55 as investors transferred 6,703 shares, Limners and Bards gained 19 cents to close at $2.59 after investors exchanged 3,900 stocks, Lumber Depot lost 17 cents to end at $2.30 trading 150,521 units. 
MFS Capital Partners advanced 14 cents to $2.97 with the swapping of 387,932 stock units, Paramount Trading rallied 8 cents in ending at $2.20 after an exchange of 5,592 stocks and Spur Tree Spices shed 27 cents to $2.75 in switching ownership of 458,199 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Mixed JSE trading on Friday
Trading was mixed on Friday on the Jamaica Stock Exchange, with the volume and value of stocks traded rising compared to Thursday helped by the newly listed Image Plus Consultants on the Junior market.
Trading ended, with an exchange of 30,350,965 shares compared to 24,723,664 units on Thursday, with newly listed Image Plus contributing 12.4 million of Friday’s volume, and $26.4 million to the value of trading of $178.7 million compared to $62.7 million on the previous day. Trading on the JSE USD market resulted in investors exchanging US$81,708 versus US$23,978 on Thursday.
At the close, the Combined Market Index dropped 79.20 points to end at 354,517.71, the All Jamaican Composite Index dipped 921.76 points to 386,062.55, the JSE Main Index declined 214.32 points to settle at 340,731.16, the Junior Market popped 30.02 points to settle at 3,993.91 and the JSE US dollar market lost 0.89 points to close at 218.24.
The market’s PE ratio ended at 23 based on 2021-22 earnings and 13.7 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options 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.
Image Plus crashed on launch
Image Plus Consultants share crashed on launch after listing on Friday morning on the Junior Market of the Jamaica Stock after the price reached a high of $2.25 with 104.4 million units trading in the early morning session.
Dr. Karlene McDonnough – Chairman of Image Plus Consultants Ltd.
The price fell back to just over the IPO issue price of $2 after 90 minutes and traded up to $2.20 after more than two hours of trading. Within a few minutes after midday, investors exchange slightly more than 9.8 million shares, with the last traded price of $2.09.
The listing brings the total number of companies on the Junior Market to a record 48. The shares will be amongst the few IPOs since the covid9 pandemic that failed to rocket higher on the first day of trading.
The company offered 247,889,936 new shares to the public at $2 each, to raise $495,779,872 before expenses, with the offer that opened on December 28 and closed on December 30, last year and was oversubscribed.
Applications from Key Stakeholders, Broker Reserved and Employees got full of the amount applied for, with the General Public getting the first 10,000 New Shares applied for and 35.68 percent of the balance.
Low trading pressures JSE majors
Stocks tumbled on the Jamaica Stock Exchange Main Market on Thursday with 56 securities trading up from 57 on Wednesday and leading to 17 rising, 26 declining and 13 ending unchanged as the volume of stocks traded rose 239 percent with the value increasing modestly over Wednesday.
A total of 12,878,672 shares were traded for $32,824,074 compared with 3,798,109 units at $31,876,506 on Wednesday.
Trading averaged 229,976 units at $586,144 compared to 66,633 shares at $559,237 on Wednesday and month to date, an average of 141,929 units at $1,382,448 compared with 134,731 units at $1,447,548 on the previous day. December closed with an average of 604,110 units at $4,072,598.
Wigton Windfarm led trading with 9.27 million shares for 72 percent of total volume followed by Pulse Investments with 1.11 million units for 8.6 percent of the day’s trade and Transjamaican Highway with 594,031 units for 4.6 percent market share.
The All Jamaican Composite Index shed 1,548.29 points to 386,984.31, the JSE Main Index dropped 1,426.90 points to 340,945.48 and the JSE Financial Index lost 0.24 points to end at 81.51.
The PE Ratio, a formula to ascertain appropriate stock values, averages 15.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offerindicator shows ten stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments shed 87 cents to close at $91.01 with an exchange of 16,138 shares, Caribbean Cement declined by $2 in closing at $60 with the swapping of 13,036 stock units, Caribbean Producers dipped 86 cents to end at $10.90 trading 71,740 units. Eppley fell $1.88 to $39 after 112 stocks cleared the market,Eppley Caribbean Property Fund rose 55 cents to $43 in switching ownership of 640 stock units, First Rock Real Estate fell 97 cents to end at $11.92 after an exchange of 5,141 shares. 
Guardian Holdings dropped $8 to close at $512 after a transfer of 289 units, Jamaica Stock Exchange declined $1.38 after ending at $13.52 after 650 stocks changed hands, Kingston Properties gained 49 cents to close at $7.29 after a transfer of 1,774 stock units. Kingston Wharves lost 40 cents in closing at $35 in trading 284 stocks, NCB Financial popped $1.50 to $80 in swapping 25,551 shares, Palace Amusement jumped $249.98 to a 52 weeks’ high of $2,099.98 in exchanging 797 units. PanJam Investment dipped 90 cents in closing at $58.10 with 1,356 units changing hands, Proven Investments declined $2.38 to $30 with investors transferring 8,825 stocks, Sagicor Group lost 50 cents to end at $50.50 after trading 2,769 stock units. Scotia Group gained 75 cents to close at $34 after an exchange of 106,838 shares, Stanley Motta shed 60 cents to finish at $4.20 as investors transferred 14,070 units, Supreme Ventures lost 47 cents in ending at $27.50 with an exchange of 724 shares. 
Sygnus Credit Investments declined 97 cents in closing at $13 trading 21,385 stock units and Wisynco Group shed 69 cents to end at $17 in clearing the market with 95,594 stocks.
In the preference segment, Jamaica Public Service 9.5% advanced $420 to $3,000 with a transfer of 20 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big fall for Junior Market
The Junior Market of the Jamaica Stock Exchange plunged on Thursday after the volume of stocks traded rose 55 percent and the value climbed 61 percent more than Wednesday with trading in 45 securities trading up from 43 on Wednesday and ended with 11 rising, 26 declining and eight closing unchanged.
A total of 11,460,696 shares were traded for $29,877,310 compared to 7,376,918 units at $18,528,560 on Wednesday.
Trading averaged 254,682 shares at $663,940 compared with 171,556 units at $430,897 on Wednesday. The month to date, averaged 187,355 units at $481,322 compared with 181,703 stock units at $465,990 on Wednesday, the previous day. December closed with an average of 333,420 units at $925,533.
Paramount Trading led trading with 4.85 million shares for 42.3 percent of total volume followed by Dolla Financial with 1.42 million units for 12.4 percent of the day’s trade and MFS Capital Partners with 1.04 million units for 9.1 percent market share.
At the close, the Junior Market Index shed 72.07 points to settle at 3,963.89.
The PE Ratio, a measure of computing appropriate stock values, averages 12.7. PE ratios of Junior Market stocks are computed using ICInsider.com projected earnings for the financial year ending that fall between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial shed 80 cents to $23.50 with a transfer of 4,228 shares, AMG Packaging gained 13 cents in closing at $2.98 in trading 312 stocks, Blue Power lost 19 cents to finish at $2.61 after crossing the market with 10,914 stock units. Cargo Handlers declined $2.01 to end at $11.64 in an exchange of 2,778 units, Caribbean Cream lost 15 cents ending at $3.85 after a transfer of 2,124 units, Caribbean Flavours dipped 8 cents to $1.77 with 2,500 shares changing hands. Consolidated Bakeries lost 18 cents in ending at $1.81 in switching ownership of 5,268 stock units, Dolphin Cove gained 30 cents in closing at $15.30 after clearing the market with 660 stocks, 
EduFocal lost 7 cents to close at $2.43 after trading 10,800 shares. Express Catering dropped 44 cents to end at $5 with the swapping of 3,524 units, Fontana fell 12 cents to $9 in transferring 48,930 stocks, Future Energy Source dipped 7 cents to close at $4.78 as investors exchanged 191,439 stock units. General Accident shed 38 cents in ending at $4.70 with 5,176 shares changing hands, ISP Finance declined 50 cents in closing at $28.40 with investors transferring 13 units, JFP Ltd lost 14 cents to end at $1.70 in trading 529,994 stocks. KLE Group popped 19 cents to finish at $1.90 after trading one stock unit, Lasco Distributors dipped 7 cents to $2.70 with the swapping of 1,220 stocks, Lasco Financial declined 17 cents to end at $2.68 with an exchange of 2,960 shares. Lasco Manufacturing lost 22 cents in closing at $4.18 with the swapping of 38,457 units, Main Event fell 60 cents to $9.40 after exchanging 46,686 stock units, Medical Disposables shed 24 cents to close at $4.51 in trading 10,000 stock units. 
MFS Capital Partners rose 11 cents to $2.83 after 1,039,839 stocks passed through the market, Paramount Trading shed 18 cents in closing at $2.12 in switching ownership of 4,848,054 units, Stationery and Office Supplies rallied 71 cents to end at $15 trading 1,077 shares and Tropical Battery advanced 14 cents to $2.54 with a transfer of 799,246 units.
In the preference segment, CAC 2000 9.5% preference share gained 16 cents to end at $1.17 after crossing the market with 4,256 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big drop for JSE USD market
Prices fell on the Jamaica Stock Exchange US dollar market ended on Thursday and pulled the market index down sharply following a 12 percent decline in the volume of stocks changing hands as the value dropped 53 percent compared with Wednesday, resulting in eight securities trading, compared to five on Wednesday with one rising, four declining and three ending unchanged.
The JSE US Denominated Equities Index dropped 10.15 points to end at 219.13.
Overall, 384,296 shares were traded for US$23,978 down from 437,499 units at US$50,829 on Wednesday.
Trading averaged 48,037 shares at US$2,997 compared to 87,500 shares at US$10,166 on Wednesday, with a month to date average of 34,657 shares at US$3,207 compared with 33,608 units at US$3,224 on the previous day. December ended with an average of 39,679 units for US$1,494.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows none ended with a bid higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Real Estate USD share shed 0.2 of a cent to close at 7 US cents while exchanging 283,417 shares, Productive Business Solutions dipped 14 cents to end at US$1.55 with a transfer of 229 stock units, 
Proven Investments popped 0.95 of one cent in closing at 20 US cents after a transfer of 11,632 stocks. Sterling Investments ended at 1.95 US cents with 13,576 units crossing the exchange, Sygnus Credit Investments USD share slipped 0.3 of a cent to 9.7 US cents after a transfer of 3,026 stocks, Sygnus Real Estate Finance USD share ended at 11 US cents after exchanging 1,353 units and Transjamaican Highway declined 0.01 of a cent in closing at 0.95 of one US cent in an exchange of 71,000 stock units.
In the preference segment, JMMB Group 6% remained at US$1 with the swapping of 63 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
All JSE markets drop on Thursday
All of the Jamaica Stock Exchange markets declined on Thursday with the volume and value of stocks traded rising compared to that on Wednesday, with the volume more than doubling that of Wednesday as the value climbed moderately.
Trading ended, with an exchange of 24,723,664 shares compared to 11,612,526 units on Wednesday, with the value ending at $62.7 million from $50.4 million the previous day. The JSE USD market ended with US$23,978 worth of stocks traded versus US$50,829 on Wednesday.
At the close, the Combined Market Index dropped 1,992.86 points to finish at 354,438.51, the All Jamaican Composite Index fell 1,548.29 points to 386,984.31, the JSE Main Index dropped 1,426.90 points to 340,945.48, the Junior Market dived 72.06 points to end at 3,963.89 and the JSE US dollar market lost 10.15 points to close at 219.13.
The market’s PE ratio ended at 22.6 based on 2021-22 earnings and 13.6 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options 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.
