More gains for JSE Main Market

The Main Market of the Jamaica Stock Exchange closed higher for the sixth time out of the last seven trading days and recovered 47,260.76 points of the losses in March, to be up 13 percent from the recent lows of 375,091.09 points, reached on 25th of March on the JSE All Jamaican Composite Index.             

JSE Main market continuing to bounce off resistance at 375,000 points reached on March 25.

At the close of the market on Friday, the JSE All Jamaican Composite Index jumped 4,851.68 points to 422,351.85, the JSE Market Index climbed 4,394.76 points to 384,905.24 and the JSE Financial Index added 1.51 points to 105.44.
The market closed with 47 securities changing hands in the Main and US dollar markets with prices of 25 stocks advancing, 15 declining and 4 securities trading firm. The JSE Main Market activity ended with 42 securities accounting for 33,384,287 units valued at $221,730,878, in contrast to 19,058,509 units valued at $80,731,137 from 40 securities on Thursday.
Trans Jamaican Highway led trading with 21.5 million shares for 64.4 percent of total volume, followed by Wigton Windfarm with 2.6 million units for 7.9 percent of the day’s trade and Sagicor Select Financial Fund with 1.9 million units for 5.6 percent market share. Sagicor Select Manufacturing & Distribution Fund ended with 1.1 million shares and was the only other stock trading more than one million units.
The Market closed with an average of 794,864 units valued at an average of $5,279,307 for each security traded, in contrast to 476,463 units valued at an average of $2,018,278 on Thursday. The average volume and value for the month to date amount to 613,607 units valued at $3,409,226 for each security changing hands. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and two stocks closing with lower offers. The PE ratio of the market ended at 14.2, while the Main Market ended at 14.4 times 2020/21 earnings.
In the Main Market, Barita Investments climbed $5 to reach $58, with 41,623 shares changing hands, Berger Paints fell $3 to $11.50, after trading 24,768 units, Caribbean Cement added 54 cents to close $43.49, in swapping 61,554 shares. Eppley closed $1 higher at $16, with14,000 units crossing the exchange, Eppley Caribbean Property Fund dropped $4 to end at $35, in trading a mere 200 units, First Rock Capital lost 50 cents to finish at $10, with a transfer of 17,200 units. Grace Kennedy shed 60 cents to close at $57 in exchanging 722,937 shares, Jamaica Broilers gained 52 cents, in swapping 291,710 shares to end at $32.52, Jamaica Producers picked up 41 cents to close at $19.11 after trading 5,891 units. Kingston Wharves closed 50 cents higher to finish at $44, with 21,556 units traded, MPC Caribbean Clean Energy advanced $5 to $140 after exchanging 1,512 stock units, NCB Financial Group climbed to $152.91, with gains of $2.66 with 265,789 shares changing hands. PanJam Investments fell by $2 to $76 in swapping 225,872 shares, Portland JSX shed 70 cents to finish at $7.30, with an exchange of 38,667 units, Proven Investments closed at $39.70, after rising $2.20 and trading 11,126 units. Sagicor Group picked up 81 cents to end at $48.75, in transferring 73,620 shares, Sagicor Real Estate Fund closed 45 cents lower at $7.25 with 81,200 stock units crossing the exchange, Salada Foods jumped $6 to $36, after exchanging 59,400 units. Seprod closed $1.50 higher to $49.50, with a transfer of 65,614 shares and Supreme Ventures gained 40 cents to end at $14.40, with 248,813 shares changing hands.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

More recovery for JSE Main Market

The Main Market of the Jamaica Stock Exchange closed higher on reduced volume less dollar valued than on Wednesday as three stocks rose for every two that declined, leading to the JSE All Jamaican Composite Index jumping 3,216.72 points to 417,500.17. The JSE Market Index climbed 2,911.92 points to 380,510.48 and the JSE Financial Index adding just 0.30 points to 103.93.
The market closed with 45 securities changing hands in the Main and US dollar markets with prices of 21 stocks advancing, 14 declining and ten securities trading firm. JSE Main Market activity ended with 40 securities accounting for 19,058,509 units valued at $80,731,137, in contrast to 22,417,248 units valued at $113,463,573 from 40 securities on Wednesday.
Trans Jamaican Highway led trading with 10.3 million shares for 54.3 percent of total volume, followed by Wigton Windfarm with 3.4 million units for 17.7 percent of the day’s trade and Wisynco Group with 1.4 million units for 7 percent of the market share. Sagicor Select Financial Fund was the only other stock trading more than one million units, with 1.05 million shares.
The Market closed with an average of 476,463 units valued at an average of $2,018,278 for each security traded, in contrast to 560,431 units valued at an average of $2,836,589 on Wednesday. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and six stocks closing with lower offers. The PE ratio of the market ended at 14.4, while the Main Market ended at 14.6 times 2020/21 earnings.
In Main Market trading, Barita Investments lost $1, closing at $53 with an exchange of 14,539 shares, Berger Paints added 50 cents trading 5,309 units to end at $14.50, Caribbean Cement climbed $3.95 to $42.95, with 169,098 shares crossing the exchange. Eppley traded at $15, after rising $2.50 and transferring 6,222 units, First Rock Capital gained 95 cents to finish at $10.50, in swapping 14,181 shares, Grace Kennedy picked up 60 cents to close at $57.60, with 17,231 shares changing hands. Jamaica Broilers closed with a loss of $1, transferring 138,933 shares to end at $32, Jamaica Producers fell by $2.31 to $18.70 after trading 35,872 shares, Jamaica Stock Exchange shed 50 cents to close at $22.50, with an exchange of 40,317 shares. JMMB Group closed 54 cents lower to $38, in swapping 171,356 shares, NCB Financial Group declined to $150.25, with a loss of $4.74 and trading 36,785 stock units. Proven Investments added 90 cents to finish at $37.50, with 11,664 units crossing the exchange, Scotia Group climbed $1.49 to $47.99 in transferring 18,664 units, Seprod closed 50 cents higher at $48, in exchanging 25,496 shares. Stanley Motta gained 80 cents in swapping 200 units and finished at $5.80, Supreme Ventures picked up 43 cents to end at $14, with 17,488 units changing hands, Sygnus Credit Investments closed at $18.90, with gains of $1.87 trading 12,280 stock units and Wisynco Group rose 60 cents to $13.90, with a transfer of 1,360,292 shares.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

JSE Main Market starts Q2 with a fall

Jamaica Stock Exchange started the second quarter of 2020 with losses in the leading indices after racking substantial gains ahead on the month-end. The market closed with 40 securities changing hands with prices of 22 stocks advancing, 21 declining and two trading firm.
At the close, the JSE All Jamaican Composite Index declined 1,819.45 points to 414,283.45, the JSE Market Index dropped 1,643.55 points to 377,598.56, but the JSE Financial Index rose 0.33 points to 103.63.
The JSE Main Market activity ended with 22,417,248 units valued at $113,463,573, in contrast to 46,241,343 units valued at $672,264,195 from 42 securities on Tuesday.
Trans Jamaican Highway led trading with 9.3 million shares for 42 percent of total volume followed by Wigton Windfarm with 4.1 million units for 18.3 percent of the day’s trade, and Sagicor Select Financial Fund with 1.7 million units for 7.5 percent of the market’s volume. QWI Investments was the only stock trading more than one million units, with 1.4 million shares.
The Market closed with an average of 560,431 units valued at an average of $2,836,589 for each security traded, in contrast to 1,100,984 units valued at an average of $16,006,290 on Tuesday. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and two stocks closing with lower offers. The PE ratio of the market ended at 14.2, while the Main Market ended at 14.5 times 2020/21 earnings.
In the Main Market, Barita Investments tumbled $5 to $54, after exchanging 51,460 shares, Berger Paints closed $2.96 higher to $14, in transferring 50,404 units, Caribbean Cement dumped $6.50 in trading 162,574 stock units and closed at $39. Eppley Caribbean Property Fund ended at $39, with a loss of 50 cents after swapping 13,580 shares, First Rock Capital shed 44 cents to finish at $9.55, with 8,508 units changing hands, Grace Kennedy ended $3 lower to close at $57, in trading 82,834 shares. Jamaica Broilers climbed $3 to $33 after transferring 99,832 stock units, Jamaica Producers ended at $21.01, after losing $1.99 and exchanging 17,100 units, Jamaica Stock Exchange lost 50 cents to close at $23, with 105,597 shares traded. JMMB Group closed $1.44 lower to $38.54, in swapping 110,895 shares, Kingston Wharves added 59 cents to finish at $43.50, in trading 12,358 units, Mayberry Investments picked up 44 cents to close at $5.99, with 81,015 units crossing the exchange. NCB Financial Group advanced to $154.99, with gains of $4.99 and swapping 57,909 units, 138 Student Living climbed $1.34 to $6.99, after transferring 15,500 units, PanJam Investment ended at $78, with a loss of $1 trading 63,834 units. Portland JSX gained 70 cents exchanging 2,090 units and closed at $8, Proven Investments ended at $36.60, after climbing $1.60 and transferring 14,113 stock units, Sagicor Group closed $4.40 lower to $48, in swapping 101,381 shares. Salada Foods ended the day at $30, after gaining $1 trading 200 units, Scotia Group dropped $1.49 to finish at $46.50, with 29,841 units changing hands, Seprod added 50 cents to transferring 254,512 shares and closed at $47.50. Stanley Motta shed 75 cents with an exchange of 6,000 units to end at $5, Supreme Ventures gained 57 cents and closed at $13.57, in swapping 561,955 shares, Sygnus Credit Investments ended at $17.03, with a loss of 97 cents trading 99,934 units and Wisynco Group closed $1.39 lower to $13.30 exchanging 1,657,479 shares.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

JSE majors end worse month with gains

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The Jamaica Stock Exchange Main Market closed out the worse month in its 50-year history, with a plunge of 29 percent from the start of the month to March 25, before it recovered 41,011.81 of the 154,631.13 points lost up to that point to close the month with a loss of 21 percent.
At the close of trading for March and the end of the first quarter of 2020, the JSE All Jamaican Composite Index soared 15,152.90 points to 416,102.90, the JSE Market Index jumped 13,681.82 points to 379,242.11 and the JSE Financial Index gained 2.76 points to end at 103.30.
The market closed with 48 securities changing hands in the Main and US dollar markets with prices of 29 stocks advancing, 9 declining and 10 securities trading firm. The JSE Main Market activity ended with 42 securities accounting for 46,241,343 units valued at $672,264,195, in contrast to 29,160,780 units valued at $111,371,550 from 39 securities on Monday.
Pulse Investments led trading with 17.2 million shares, for 37 percent of overall Main Market volume, Trans Jamaican Highway traded 7.3 million units, in the JSE US dollar market, the equivalent of 15.7 percent of the Main Market volume and Barita Investments exchanged 7 million units for 15 percent market share.
Other stocks trading more than one million units were Wigton Windfarm with 6.9 million units, Trans Jamaican Highway with 6.1 million shares, JMMB Group with 2.5 million shares and Sagicor Select Financial Fund with 1.1 million units.
The Market closed with an average of 1,100,984 units amounting to $16,006,290 for each security traded, in contrast to 747,712 units valued at an average of $2,855,681 on Monday. The average volume and value for the month to date amount to 1,146,245 units valued at $7,550,295 for each security changing hands compared to 1,148,383 units valued at 7,111,386 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows fifteen stocks ending with bids higher than their last selling prices and three stocks closing with lower offers. The PE ratio of the market ended at 14.2, while the Main Market ended at 14.5 times 2020/21 earnings.
In the Main Market, Barita Investments climbed $4.01 to $59, in exchanging 6,970,721 shares, Caribbean Cement jumped $5.50 trading 70,198 shares and closed at $45.50, Eppley Caribbean Property Fund shed 50 cents to finish at $39.50, with an exchange of 4,500 units. Grace Kennedy ended $5.50 higher at $60, in switching ownership of 261,243 shares, Jamaica Broilers traded 87,050 shares, with gains of $1.91 to close at $30, Jamaica Producers ended at $23, after climbing $4 while exchanging 163,786 shares. Jamaica Stock Exchange jumped $4.50 to $23.50, with 267,697 shares changing hands, JMMB Group surged $5.98 to reach $39.98, in transferring 2,521,461 shares, Kingston Wharves gained 91 cents to close at $42.91, trading 4,795 units. Mayberry Jamaican Equities ended $1.08 higher in trading 16,911 units at $7.72, PanJam Investment rose $1 to $79, with 54,643 shares changing hands, Proven Investments ended at $35, after losing 94 cents while trading 36,309 shares. Pulse Investments added 32 cents to finish at $3.45, in transferring 17,162,610 shares, Sagicor Group leaped $8.40, in exchanging 341,368 shares and closed at $52.40, Salada Foods finished at $29, advancing $4 and trading 20,327 units. Scotia Group closed $3.98 higher at $47.99, with 155,932 shares changing hands, Seprod added $4.50 to end at $47, in swapping 51,191 units, Stanley Motta gained $1.14 exchanging 16,615 units and closed at $5.75. Supreme Ventures shed 50 cents to end at $13, with 177,935 shares traded, Sygnus Credit Investments ended at $18, with gains of $1.40 transferring 154,566 shares, Victoria Mutual Investments exchanged 560,714 shares at $7, after picking up 55 cents and Wisynco Group closed $1.44 higher at $14.69 after trading 501,240 shares.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

JSE Main Market pushes higher – Monday

The JSE Main Market continues to surge forward at the close of trading on Monday, as recent heavy selling abates allowing the market all Jamaica Composite index to rise 25,859 points, almost wiping losses suffered from Monday to Wednesday last week.  

Early signs of a market rebound just showing.


At the close, the JSE All Jamaican Composite Index climbed 6,492.50 points to 400,950.00, the JSE Market Index gained 5,877.33 points to 365,560.29 and the JSE Financial Index rose 1.82 points to 100.54.
The market closed with 44 securities changing hands in the Main and US dollar markets with prices of 21 stocks advancing, 18 declining and five securities trading firm. The JSE Main Market activity ended with 39 securities accounting for 29,160,780 units valued at $111,371,550, in contrast to 23,098,105 units at $104,845,950 from 41 securities on Friday.
Trans Jamaican Highway remained the dominant trade on Monday, with 15 million shares for 51.5 percent of total volume crossing the exchange followed by Wigton Windfarm with 5.8 million units for 20 percent of the day’s trade and Trans Jamaican Highway trading in the US dollar market with 3.6 million units for 12 percent of the market’s volume. Other stocks trading more than one million units were Pulse Investments with 1.9 million units and Sagicor Select Financial Fund with 1.7 million units.
The Market closed with an average of 747,712 units valued $2,855,681 for each security traded, in contrast to 563,368 units valued at an average of $2,557,218 on Friday. The average volume and value for the month to date amount to 1,148,383 units valued at $7,111,386 for each security changing hands compared to 1,166,767 units valued at 7,327,128 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and one stock closing with a lower offer. With IC Isider.com switching projections over to 2020 and 2021 fiscal years, PE ratios are down, reflecting higher projected earnings in some cases and leaving average PE of the market at 13.3, while the Main Market ended at 13.9 times 2020/21 earnings.
In the Main Market, Barita Investments climbed $3.99 to $54.99, after trading 80,515 shares, Berger Paints closed $1.54 higher to $11.04, in transferring 22,211 units, Caribbean Cement dived $9, in swapping 166,167 shares to finish at $40. First Rock Capital gained 50 cents exchanging 13,097 units and closed at $10, Grace Kennedy slid $2, with 21,729 shares changing hands to close at $54.50, Jamaica Broilers ended 91 cents lower to $28.09 trading 80,513 shares. Jamaica Producers advanced $2.85 to $19, while 22,817 units passed through the market, Jamaica Stock Exchange rose 47 cents to $19, with 86,297 shares changing hands, JMMB Group closed down by $1.45 to finish at $34 in transferring 536,454 shares. Kingston Wharves slid $1.50 to $42, trading 7,109 units, Mayberry Investments picked up 60 cents and closed at $5.60, with an exchange of 67,881 shares, Mayberry Jamaican Equities shed 36 cents with 16,100 units trading to end at $6.64. NCB Financial Group declined by $4 to close at $150, with 114,390 shares changing hands, 138 Student Living rose 81 cents to end at $5.50, in swapping a mere 86 units, Proven Investments ended at $35.94, after picking up 94 cents and transferring 35,465 shares. Pulse Investments ended at $3.13, with gains of 60 cents trading 1,882,701 shares, Sagicor Group dropped $2.60 to end at $44, with an exchange of 46,235 units, Sagicor Real Estate Fund closed $1.10 higher to $7.70 with the trading of just 1,901 units. Scotia Group a lost $3.49 and finished at $44.01 with 38,328 units changing hands, Seprod added $3.50 to end at $42.50, after transferring 73,476 units, Stanley Motta lost 39 cents swapping 1,000 units and closed at $4.61 and Supreme Ventures fell 49 cents to end at $13.50, with 253,252 shares traded.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Carib Producers & RJR lead IC TOP 10

The IC Insider.com TOP 10 stocks return, with earnings per share based on the profit of companies reporting full year’s results for the new financial year that ends after the second quarter of this year up to the second quarter in 2021.
Major uncertainties abound about the local and global economy and how each company may be affected. It is not possible to determine the exact fall out from the crisis and the impact on company earnings. Accordingly, actual earnings could vary materially from IC Insider.com’s forecast. In this regard, investors need to be alert to new information that will come to the fore on an ongoing basis and be prepared to adjust their investment decisions as time passes.
Where there are major uncertainties, there is the possibility of outlandish gains accordingly. Investors should be looking beyond just the immediate situation and identify companies that are financially strong to withstand the current cut in revenues but will make a strong recovery by 2021. The three top Junior Market selections are Caribbean Producers, KLE Group and Lasco Financial with the potential to gain between 320 to 600 percent by 2021. In the Main Market, Radio Jamaica leads the pact followed by Berger Paints then Eppley with projected gains of 149 to 200 percent.
The Jamaica stock market suffered sustained pressure during March, leading to one of the most rapid falls in stock prices in the history of the market. In the past week, prices have bounced with the Main Market putting in strong gains on Thursday and Friday, but the market index is down by a sizeable 29.5 percent year to date.
The market suffered from a large amount of money that went towards buying shares in Trans Jamaica Highway. At the same time, investors were concerned about the effects the Coronavirus could have on the economy and stocks in particular. Finally, prices fell so far that lenders make margin calls on investors who borrowed money on margin, resulting in selling shares to cover the shortfall at low prices to realize cash to pay down loans.
Trans Jamaica Highway shares were listed on the market on Tuesday. That gave some investors the opportunity to raise over $223 million in cash to reinvest in the market along with refunds from the oversubscription in the IPO.
The current year has changed markedly as the Corona Virus impact on countries worldwide has been significantly disruptive, inflicting significant damage to the individuals, businesses and economies.  With the wipeout of fiscal deficits and debt to GDP set to be below 90 percent, the Jamaican economy is in a far better place than at the time of the 2008 crisis that severely tested the country and led to many measures that severely affected the economy from then until 2016.
The current situation of job losses worldwide will lead to lower inflows of export earnings for Jamaica from goods and services. Currently, the tourist industry is at a standstill. There are no clear indications when operations resume and what will the level of support be from guests. The effect of the downturn in the economy will affect companies to differing degrees. Some companies with early 2020 year-ends will not have the same impact on reported results and stock prices. With prices having fallen sharply, investors have an excellent opportunity to get back in and make a bundle in the next two years or so. The key to coming out big winners is to understand how the effects on each company and the timeframe.
With the tourism industry virtually closed, companies heavily dependent on the industry will have little or no sales for a while from March. The Group consists of Caribbean Producers, Dolphin Cove, Everything Fresh and Express Catering. Entertainment company Main Event and restaurant operator KLE Group will be hurt from patrons staying home as well as fewer tourists visiting Montego Bay and patronizing the restaurant in that town. Some major contributors to the tourism market are Grace, Jamaica Broilers and Wisynco. The results for some companies are hit by falling stock and bond prices. The results for the 2020 first quarter will show the impact of the recent market decline. The latter includes JMMB Group, Proven, NCB Financial Group, Barita Investments, VMBS Investments, Jamaican Teas, QWI Investments and Sagicor Group. Banks may have to increase loan loss provisions as businesses encounter cash flow problems and defaulting on loan payments.
The targeted average PE ratio is 20, with both the Junior and Main markets currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 8 and the Junior Market a mere 8.5, based on current 2020 earnings. The PE ratio for Junior Market Top 10 stocks averages 4.7 with the Main Market at 8.
The TOP 10 stocks now trade at a discount of 45 percent of the average for Junior Market and Main Market stocks trade at a discount of 33 percent to the overall market. The average projected gain for the IC TOP 10 stocks is 377 percent for the Junior Market and 153 percent for the JSE Main Market, based mostly on 2020 earnings.
IC TOP 10 stocks are likely to deliver the best returns to March 2021. Forecasted earnings and PE ratio for the current fiscal year are in determining potential gains. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

Persons who compiled this report may have an interest in securities commented on in this report.

Aggressive price gains push JSE Main Market

Some aggressive price movements push JSE Main Market higher at the close of trading on Friday as investors seem to be putting the recent sharp sell-off behind them. In the end, Caribbean Cement jumped $4, Grace Kennedy $2, NCB Financial $2, Sagicor group $4.20, Scotia Group $3.50 and Seprod $2.The market ended, with the JSE All Jamaican Composite Index advanced 10,583.06 points to 394,457.50, the JSE Market Index climbed 9,599.14 points to 359,682.96 and the JSE Financial Index rose 3.61 points to 98.72.

JSE Main Market has bounced strongly off support shown by the blue line on two separate days.

The market closed with 46 securities changing hands in the Main and US dollar markets with prices of 24 stocks advancing, 12 declining and ten securities trading firm. The JSE Main Market activity ended with 41 securities accounting for 23,098,105 units valued at $104,845,950 in contrast to 276,324,388 units valued at $742,100,927 from 39 securities on Thursday.
Trans Jamaican Highway led trading with 9.7 million shares for 41.8 percent of total volume followed by Wigton Windfarm with 7.2 million units for 31.2 percent of the day’s trade, and Trans Jamaican Highway US$ with 2.1 million units for 9.2 percent of the market’s volume. The only other stock trading more than one million units is Pulse Investments, with 1.2 million units.
The Market closed with an average of 563,368 units valued at $2,557,218 for each security traded, in contrast to 7,085,241 units valued at an average of $19,028,229 on Thursday. The average volume and value for the month to date amount to 1,166,767 units valued at $7,327,128 for each security changing hands compared to 1,197,347 units valued at 7,209,844 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and two stocks closing with lower offers. The PE ratio of the market ended at 15, while the Main Market ended at 14 times 2019 earnings.
In the Main Market trading, Barita Investments declined $1.50 to $51, trading 482,153 shares, Caribbean Cement climbed $4 higher to $49, with an exchange of 46,494 units, Eppley gained $1.71 to close at $12.21, with a transfer of 574 stock units. First Rock Capital slipped 60 cents to $9.50, after swapping 11,797 shares, Grace Kennedy added $2.30 to finish at $56.50, with 95,953 shares changing hands, Jamaica Broilers gained $1 and closed at $29, after trading 13,934 units. JMMB Group picked up $1.12 to finish at $35.45, with an exchange of 279,114 shares, Mayberry Jamaican Equities added 40 cents after 75,312 shares passed through the market to end at $7, MPC Caribbean Clean Energy sustained a loss of $12 to end at $135, with a mere 20 units crossing the exchange. NCB Financial Group closed $2 higher at $154, in trading 41,906 shares, 138 Student Living shed 81 cents to end at $4.69 exchanging 6,216 units, Portland JSX closed $1.60 lower to $7.30 after transferring just 416 units. Proven Investments ended at $35, after falling by $1 in trading 19,278 shares, Sagicor Group jumped $4.20 to $46.60, with 70,977 stock units changing hands, Sagicor Real Estate Fund fell 82 cents to $6.60 with the transfer of 5,774 units. Scotia Group climbed $3.50 to finish at $47.50 and trading 77,214 shares, Seprod added $2 to end at $39, with an exchange of 41,696 shares, Sterling Investments picked up 30 cents to close at $2.80, in transferring 1,300 units. Victoria Mutual Investments ended at $6.54, with gains of 48 cents and exchanging 160,790 shares and Wisynco Group closed at $13.30, with a loss of 70 cents after 558,494 shares crossed the exchange.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

 

 

 

Big bounce for JSE Main Market

NCB Financial one of the big contributors to the fall in the Main Market of the Jamaica Stock Exchange by knocking approximately 50,000 points off the index roared back in trading on Thursday, with a rise of $7 to close at $152 and in the process helped in pushing the two leading indices sharply higher.

NCB Financial Group contributed around 50,000 to the JSE index near 200,000 decline since the start of the year.

At the close, the market shows signs that it may have bottomed and is about to move higher and is partially reflected with a sharp rise in the JSE All Jamaican Composite Index jumping 8,783.35 points to 383,874.44 and the JSE Market Index climbing 7,989.93 points to 350,083.82. The JSE Financial Index gained 2.55 points to 95.11.
The market closed with 44 securities changing hands in the Main and US dollar markets with prices of 21 stocks advancing, 17 declining and eight securities trading firm. The JSE Main Market activity ended with 39 securities accounting for 276,324,388 units valued at $742,100,927 in contrast to 126,118,687 units valued at $211,017,961 from 40 securities on Wednesday.
Pulse Investments traded an unusually large 243.4 million shares for 88 percent of total volume followed by Trans Jamaican Highway with 19.7 million units for 7 percent of the day’s trade and Trans Jamaican Highway US dollar listing with 5.2 million units for 2 percent of the volume in both markets. Other stocks trading more than one million units were Carreras with 2.2 million units,

Strong signs of the market may have bottomed.

Sagicor Select Financial Fund with 1.3 million shares, Wigton Windfarm with 3.9 million units and Sagicor Select Manufacturing & Distribution Fund with 1.2 million shares.
The Market closed with an average of 7,085,241 units valued at $19,028,229 for each security traded, in contrast to 3,152,967 units valued at an average of $5,275,449 on Wednesday. The average volume and value for the month to date amount to 1,197,347 units valued at $7,209,844 for each security changing hands compared to 899,129 units valued at 6,578,450 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending with bids higher than their last selling prices and two stocks closing with lower offers. The PE ratio of the market ended at 14.9, while the Main Market ended at 13.8 times 2019 earnings.
In the Main Market, Barita Investments closed $1 higher to $52.50, with a transfer of 29,768 shares, Berger Paints ended at 52 weeks’ low of $9.50, after a loss of $1.50 and exchanging 50,996 shares, Caribbean Cement gained $5 to end at $45, in trading 53,275 units. Carreras closed 74 cents higher to $6.75, with 2,252,374 shares changing hands, Eppley shed $1 swapping 8,724 units and closed at $10.50, Eppley Caribbean Property Fund added $3.50 to end at $40, in trading 2,669 units. Grace Kennedy picked up 30 cents to finish at $54.20, in trading 58,581 shares, Jamaica Broilers ended at $28, with a loss of $1 with 25,066 units changing hands, Jamaica Stock Exchange climbed $2.50 to $18.50, after the transfer of 337,902 shares. JMMB Group slid$1.17 to $34.33, with an exchange of 102,095 units, Kingston Wharves lost 50 cents to close at $43.50 trading 6,667 units, Mayberry Jamaican Equities gained 60 cents trading 64,768 shares to end at $6.60. NCB Financial jumped $7 to $152, with 578,923 shares crossing the exchange, 138 Student Living added $1 to end at $5.50, with an exchange of 347 units, Portland JSX closed $1.60 higher to $8.90 after the transferring of 2,005 units. Proven Investments jumped $3.50 to $36, after exchanging 51,818 shares, Sagicor Group advanced by $2.40 to $42.40, in swapping 608,061 shares, Scotia Group regained ground with gains of $7 to settle at $44, with 170,469 shares changing hands. Seprod added $1 to end at $37, in trading 30,390 units, Stanley Motta shed 74 cents with a transfer of 7,500 units to end at $5. Sterling Investments closed 40 cents lower at $2.50 trading 68,830 units, Supreme Ventures ended at $14, with a loss of 99 cents exchanging 252,623 shares, Sygnus Credit Investments closed 53 cents lower to $16.50, trading 22,971 units and Wisynco Group swapped 840,773 shares at $14, after gaining $1.30.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

NCB knocks 16,000 points off JSE index

NCB Financial sharp fall in value on Monday, finally hit the market, knocking a big piece out of the Jamaica Stock Exchange index on Wednesday with the stock closing at $145 after trading at an intraday 52 weeks’ low of $135. The price used in the index computation dropped by a sharp $16.47 to $142.37 and was the main reason for the more than a 15,000 decline in the All Jamaica composite index.

NCB Financial hits a one year low of $135 on Wednesday.

At the close, the JSE All Jamaican Composite Index declined by 15,487.51 points to 375,091.09, the JSE Market Index dropped 13,893.08 points to 342,093.89 and the JSE Financial Index slid 5.70 points to 92.56.
The market closed with 47 securities changing hands in the Main and US dollar markets with prices of 19 stocks advancing, 21 declining and seven securities trading firm. The JSE Main Market activity ended with 40 securities accounting for 126,118,687 units valued at $211,017,961 in contrast to 79,985,445 units valued at $512,772,847 from 44 securities on Tuesday.
Trans Jamaican Highway led trading with 113.4 million shares for 90 percent of total volume followed by Wigton Windfarm with 6.7 million units for 5.3 percent of the day’s trade and Trans Jamaican Highway US$ listing with 5.1 million units for 4 percent of the market’s volume. Other stocks trading more than one million units were QWI Investments and Sagicor Select Financial Fund, each with 1.4 million stock units.
The Market closed with an average of 3,152,967 units valued at an average of $5,275,449 for each security traded, in contrast to 1,817,851 units valued at an average of $11,653,928 on Tuesday. The average volume and value for the month to date amount to 899,129 units valued at $6,578,450 for each security changing hands compared to 775,631 units valued at $6,653,987 for each company traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows ten stocks ending with bids higher than their last selling prices and five stocks closing with lower offers. The PE ratio of the market ended at 14.5, while the Main Market ended at 13.4 times 2019 earnings.
In the Main Market, Caribbean Cement lost $4.99 and ended at $40.99, in exchanging 84,591 shares. Eppley Caribbean Property Fund advanced $6 to $36.50, with a transfer of 5,140 units, First Rock rose 49 cents to $10, in swapping 19,391 shares. Grace Kennedy ended $1 higher to $54.50 trading 43,383 shares, Jamaica Broilers climbed $2.05 and ended at $29 after exchanging 17,399 units, Jamaica Stock Exchange fell to $16, after losing $3 transferring 307,083 stock units. JMMB Group climbed $2.50 to $35.50, with 198,122 shares changing hands, Kingston Wharves closed, with gains of $2 at $44 in trading 2,440 stock units, Mayberry Investments lost 50 cents transferring 27,849 shares to end at a 52 weeks’ low of $5. NCB Financial advanced $5 to $145, trading 67,140 units, 138 Student Living gained 39 cents to close at $4.50, with an exchange of 481 shares, PanJam Investment declined $2 to $78, with 49,817 units crossing the exchange. Portland JSX shed 50 cents trading 17,000 stock units and closed at $7.30, Proven Investments fell $4.98 to $32.50, after transferring 9,581 units, Sagicor Real Estate Fund lost 40 cents to close at $7.40, in swapping 900 stock units. Scotia Group closed 99 cents lower to end at $37, in exchanging 117,469 shares, Seprod ended the day’s trade at $36, with gains of $1 after 10,932 shares changed hands, Stanley Motta added 44 cents with a transfer of 25,175 units to end at $5.74. Sterling Investments closed 65 cents higher to $2.90, trading 116,210 shares, Supreme Investments ended at $14.99, after gaining 99 cents exchanging 433,163 stock units and Wisynco Group closed at $12.79, with a loss of 79 cents after trading 161,608 shares.
Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Trans Jamaican dives 21% to $1.12

Shares of Trans Jamaican Highway, the most recent initial public (IPO) offer in Jamaica, were listed on the main and US dollar markets of the Jamaica Stock Exchange on Tuesday, with the price declining in trading 21 percent at the close, from the J$1.41 IPO price. The stock dominated trading with the highest volume for the day and closed at $1.12 in the local market and 0.09 of a US cent in the US dollar market.
The other big move for the day, was the substantial fall of $16 in the shares of NCB Financial to close at $140, the lowest price of in a year.
At the close four stocks closed at 52 weeks’ low and one at a 52 weeks’ high. The JSE All Jamaican Composite Index declined 826.97 points to 390,578.60, down 30 percent for the year to date. The JSE Market Index lost 748.61 points to 355,986.97, also down 30 percent for 2020 and the JSE Financial Index, which is down 28.6 percent for 2020, gained 0.14 points to close at 98.26.
The market closed with 51 securities changing hands in the Main and US dollar markets with prices of 12 stocks advancing, 28 declining and 11 securities trading firm. The JSE Main Market activity surged well over Monday’s levels after 44 securities passed through the market, accounting for 79,985,445 units valued at $512,772,847, in contrast to 26,276,614 units valued at $347,146,174 from 41 securities on Monday.
Trans Jamaican Highway led trading with 47.8 million shares for 60 percent of total volume, followed by Wigton Windfarm with 23.3 million units for 29 percent of the day’s trade and NCB Financial with 2.9 million units for 3 percent market share. Other stocks trading more than one million units were Trans Jamaican Highway with 2.33 million shares in the US dollar market, Sagicor Select Financial Fund with 1.7 million units and Jamaica Producers with 1.4 million stock units.
The Market closed with an average of 1,817,851 units valued $11,653,928 for each security traded, in contrast to 640,893 units valued at an average of $8,466,980 on Monday. The average volume and value for the month to date amount to 775,631 units valued at $6,653,987 for each security changing hands compared to 708,783 units valued at 6,313,433 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and nine stocks closing with lower offers. The PE ratio of the market ended at 14.3, while the Main Market ended at 13.2 times 2019 earnings. In the Main Market trading, Barita Investments added 76 cents to close at $51.75, with 60,652 shares changing hands, Berger Paints ended 96 cents lower after exchanging 2,000 stock units to finish at $11.04, Caribbean Cement advanced to $44.99, with gains of $3.99 after trading 12,100 units. Eppley climbed $1.40 to $11.50, with 3,000 stock units changing hands, Grace Kennedy closed $3.49 lower at $53.50, in switching ownership of 21,969 shares, Jamaica Broilers gained 95 cents to end at $26.95, trading 34,708 units. Jamaica Producers picked up 46cents with an exchange of 1,364,504 stock units to close at $16.06, Jamaica Stock Exchange slid $1 to $19, with 13,976 shares passing through the market, JMMB Group declined by $2.80 to finish at $33, with 292,971 stock units crossing the exchange. Kingston Wharves fell $2 to $42 after 4,970 units changed hands, Mayberry Investments gained 30 cents to settle at $5.50 trading 1,260 shares, Mayberry Jamaican Equities lost 50 cents transferring 11,562 stock units to end at $6. NCB Financial dropped $16 to a 52 weeks’ low of $140, after trading 2,289,514 units, 138 Student Living lost 30 cents to close at $4.11, with 36,389 shares crossing the exchange, Proven Investments slid to $37.48, after losing $1.02 with 21,006 stock units changing hands. Sagicor Group shed $3 after exchanging 186,808 units and closed at $40, Scotia Group fell by $2.01 to close at a 52 weeks’ low of $37.99, in trading 138,446 shares, Seprod ended at $35, with a loss of $2 in swapping 94,065 units. Stanley Motta closed 30 cents higher with a transfer of 11,000 stock units $5.30, Supreme Investments ended at $14, after a loss of $1 and trading 206,576 shares. Sygnus Credit Investments lost 55 cents to close at $17, in transferring 202,528 stock units, Victoria Mutual Investments slipped to $6.30 after losing 39 cents with 176,895 units changing hands and Wisynco Group closed at $13.49, with gains of 99 cents after exchanging 493,269 shares.
Trading in the US dollar market ended with 2,713,918 units for $94,890. The market declined by 15.09 points to close at 184.86. First Rock Capital lost 0.6 of a cent to close at 8.4 US cents, with an exchange of 8,880 units, JMMB Group 6% preference share lost 1 cent to close at US$1, with 479 stock units changing hands, Margaritaville traded 100 shares at 24 US cents. Proven Investments shed 1.5 cents in swapping 332,924 units and closed at 23.5 US cents, Sterling Investments lost half of a cent in trading 32,300 stock units and closed at 2 US cents. Sygnus Credit Investments traded 6,264 units 12 US cents and Trans Jamaican Highway shed .001 of a cent in transferring 2,332,971 shares to end the day at 0.9 of a US cent.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.