Junior Market trading jumped on Wednesday, with the volume of stocks traded surging 339 percent above that Tuesday as the value also jumped 362 percent, but the increased activity failed to prevent the market index from diving 65.96 points to 4,189.32.
Traded resulted in 73,733,908 shares changing hands at $274,328,558 up from 16,783,104 units at $59,357,222 on Tuesday. Spur Tree Spices led trading with 57.44 million shares for 77.9 percent of total volume, followed by EduFocal, 4.25 million units with 5.8 percent of the day’s trade, JFP Limited accounted for 3.05 million units for 4.1 percent market share, Mailpac Group ended with 1.49 million units for 2 percent market share, Lasco Financial hopped in with 1.45 million units for 2 percent market share and Tropical Battery ended with 1.2 million units for 1.6 percent market share.
Trading averaged 1,843,348 shares at $6,858,214 in contrast to 399,598 shares at $1,413,267 on Tuesday, with month to date, averaging 727,308 units at $2,667,573 ompared to 674,163 units at $2,468,019 on the previous trading day. February closed with an average of 370,064 units at $1,402,517.
Market activity led to 40 securities trading compared to 42 on Tuesday and ended with 18 rising, 14 declining and eight closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 22.8. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Assurance Brokers shed 13 cents to end at $2.35 after trading 64,857 shares, Dolphin Cove lost 60 cents in closing at $26, with 149,124 stock units changing hands, EduFocal rose 47 cents to $3.68 in an exchange of 4,247,474 stocks. Elite Diagnostic rallied 8 cents to close at $3 after exchanging 9,883 units, General Accident increased 11 cents in ending at $6 with an exchange of 8,445 units, Honey Bun climbed 19 cents to end at $9.99, with 8,046 shares changing hands. Iron Rock Insurance dropped 25 cents to close at $3.15, with 7,000 stock units crossing the exchange, Jetcon Corporation gained 12 cents to close at $1.20 in trading 347,325 stocks, JFP Limited advanced 11 cents in closing at $1.26 after trading 3,051,640 stocks. Lasco Financial popped 30 cents to $3.50 in exchanging 1,451,000 units, Lasco Manufacturing fell 35 cents to $5.25 while exchanging 90,711 shares, Lumber Depot gained 13 cents to close at $3.62 after exchanging 532,147 stock units. Main Event declined 90 cents to end at $8 with the swapping of 85,126 stocks, Paramount Trading lost 22 cents to end at $1.52, with 24,000 shares clearing the market and Spur Tree Spices popped 9 cents in closing at $3.79 with 57,437,035 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market drops & recovery for Main Market
The Jamaica Stock Exchange ended trading on Wednesday with all three Main market gaining indices rising at the close, with the Combined Index climbing 2,582.90 points to close at 401,411.93, the All Jamaican Composite Index Jumped 4,746.65 points to close at 439,468.85 and the JSE Main Index 3,384.50 points to end at 389,024.39 while the Junior Market dived 65.96 points to 4,189.32.
The market’s PE ratio ended at 22.1 based on 2021-22 earnings and 12.7 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 make use of 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 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.
Junior Market hits record high as Main Market drops
The Jamaica Stock Exchange ended trading with the Junior Market closing at a new record high of 4,255.28 after it opened trading at a record high of 4,292.32 but drifted down from there to the record close.
The Main Market lost ground on Tuesday, after rising for two days and ended, with the Combined Index dropping 1,359.74 points to close at 398,829.03, the All Jamaican Composite Index dived 3,613.87 points to 434,722.20 and the JSE Main Index declined 1,925.82 points to end at 385,639.89.
The market’s PE ratio ended at 21.8 based on 2021-22 earnings and 12.6 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 make use of 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 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.
Jamaica’s stock market in a good place
The stock market cannot be looked at in isolation from what is taking place in the wider economy, John Jackson said in an address he made recently to the Kiwanis Club of Kingston on the state of the Jamaican Stock Market. There are many positives occurring that could have a good impact on stocks and the stock market but there are a few negatives taking place currently he stated.
Jackson went on to list a series of positives and negatives about the market and the economy. The economy is bouncing back from the major dislocations caused by the closure of the country’s borders in March 2020, resulting in the closure of the important tourism sector and billion dollar loss of inflows. That seems to be behind us now, although not fully based on traffic passing through the two international airports that were lagging behind 2020 and 2019 up to February this year, there are sounds that there may be big improvements in the March numbers. Remittances had record increases, well over the inflows for 2019 in both 2020 and 2021, with the latter up by $1.1 billion over 2019 flows to hit the US$3.5 billion mark.
Employment is at record levels, bettering the pre-pandemic high. The tourism industry was not at full employment when those numbers were compiled, so the situation will be even better when the next set of figures are released up to March, this year. The construction sector is enjoying record performance and absorbing quite a bit of the previously unemployed but higher interest rates could slow down the growth in the sector. There is continued expansion in the BPO sector that is employing a large number of Jamaicans and pulling US dollars into our coffers.
Inflation has risen sharply worldwide and Jamaica has not been spared the impact, resulting in the Bank of Jamaica hiking interest rates sharply from an artificial low up to August last year.
On the positive side, central government has reduced debt to GDP below 100 percent and that is freeing up resources to spend on badly needed capital improvement as well as in social areas that were neglected for decades, with a target of 60 percent of GDP by 2026.
Against the above economic developments and the hope that the Ukraine war and inflation will not derail positive economic benefits for Jamaica, the future of the stock market is good, as economic policy favours low interest rates and growth in GDP that will be positive for profits and stock prices. It should be noted that the number of investors has swollen from just fifty thousand to over 200,000 over the past four years. That growth is creating a broader and more liquid market for investors.
The Junior Market is at record levels surpassing the record high of 3,665 points in August 2019, since then, the market closed at over 4,200 points but the Main Market continues to lag and is still below the March 2020 level just before the collapse of stock prices.
In the past, investors were pulled into the market only to see it fall out of bed. This time will be different for some time to come due to cutting of the fiscal deficit, with more to come and a vast improvement in the balance of payments. These will allow for more consistency in policies and less volatility in the market. The market is also more diversified with a wider array of choices than in years gone by.
Investors should remember that the two critical factors driving stocks are interest rates and profits. Rising profits and stable interest rates will ultimately drive stock prices higher. The reverse is true. The key is to buy companies with consistent profit growth, as that demonstrates good management.
Profits for most companies released recently have been good with many of the stocks undervalued. Investors need good information to assist them in buying stocks.
Investors who want to buy stocks should favour undervalued stocks and stay away from ones selling well ahead of the average of the market, using the PE ratio as a guide. They should focus on companies that have a good record of consistent growth to make for a successful investment. Use the market data put out by ICInsider.com on earnings, PE ratios, net asset value and dividend payments as a guide in selecting stocks, these are proven to work that is why our Top10 stock selection delivered a 64 percent growth for Junior Market stocks in 2021.
Junior Market record slips Main Market climbs
The Jamaica Stock Exchange ended with the Junior Market trading at a new record in the early morning session at 4,236.63 but failed to hold on to close at another record high after slipping 0.42 points to end at 4,205.36.
The Main Market continue to recover from last week’s loss, with, the Combined Index rose 1,215.01 points to close at 400,188.77, the All Jamaican Composite Index rallied 2,588.02 points to 438,336.07 and the JSE Main Index rose 1,301.75 to end at 387,565.71.
The market’s PE ratio ended at 21.9 based on 2021-22 earnings and 12.6 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 make use of 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 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.
New Junior Market record as Majors rise
The Jamaica Stock Exchange ended the week, with the Junior Market ending at a new record close, having surged 101.72 points to close at 4,205.78 to be up over 22.4 percent for the year to date. At the same time, the Main Market eked out relatively modest gains as it struggles to break out of the consolidation zone it’s been in for months.
At the close of trading, the Combined Index rose 2,838.62 points to close at 398,973.76, the All Jamaican Composite Index rallied 3,161.89 points to 435,748.05, the JSE Main Index rose 2,067.22 to end at 386,263.96.
The market’s PE ratio ended at 22.3 based on 2021-22 earnings and 12.7 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 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.
Junior Market at record high on Friday
The Junior Market of the Jamaica Stock exchange is now trading at a new record high of 4,197.38 at 11.40 on Friday, up from 4,104.06 at the close on Thursday, as Express Catering (ECL) climbed to $6, Lasco Manufacturing rose to $5 and Spur Tree Spices hit $3.80.
Since then the market pulled back slightly to trade at 4,196.81.
The Junior Market’s previous highest level was reached on Friday, March 4, when it ended at a record closing high of 4,168.16, up 95.60 points for the day after hitting all-time intraday high of 4,185.95 at 11.45 am that morning.
Trading the shares of ECL is suspended for breaching the 15 percent circuit breaker limit. The JSE Main Index is up to 386,151.14 from Thursday’s close of 384,196.74
Main Market drops, Junior Market rises
The Jamaica Stock Exchange market suffered losses on Thursday while the Junior Market indices recorded gains to close over the 4,100 points level yet again.
At the close of trading the Combined Index slipped 1,212.53 points to close at 396,135.14, the All Jamaican Composite Index dropped 2,001.01 points to 432,586.16, the JSE Main Index declined 1,679.51 to end at 384,196.7 and the Junior Market Index climbed 40.52 points to 4,104.06.
The market’s PE ratio ended at 21.7 based on 2021-22 earnings and 12.5 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 make use of 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 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.