Trading of stocks surged sharply on Friday, with the number of shares changing hands rising 426 percent and the value jumping 600 percent higher than on Thursday, at the close of the Jamaica Stock Exchange Main Market as declining stocks just exceeded those advancing, helping to push the market into a higher finish than a week ago.
The All Jamaican Composite Index rallied 1,669.64 points to 433,704.34, the JSE Main Index advanced 1,283.57 points to 392,230.29 and the JSE Financial Index popped 0.45 points to end at 96.05. Trading ended with 4 securities against 50 on Thursday, with 17 rising, 18 declining and 13 trading unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.8. PE ratios for the JSE Main and USD Market are based on earnings forecasts by ICInsider.com for companies with financial years ending between the current year and August 2022.
Overall, 40,219,894 shares traded for $438,749,529 up from 7,647,957 units at $62,688,988 on Thursday. Caribbean Producers led trading with 77.9 percent of total volume after a transfer of 31.32 million shares, followed by Wigton Windfarm 6.9 percent for 2.76 million units, Wisynco Group 5 percent with 2.03 million units and Mayberry Jamaican Equities with 3.4 percent for 1.38 million shares changing hands.
Trading on Friday averaged 837,914 units at $9,140,615 versus 152,959 shares at $1,253,780 on Thursday and month to date, an average of 427,920 units at $5,353,555 compared to 371,370 units at $4,831,202 on Thursday. November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints dipped 44 cents to $12.76 with 1,009 shares changing hands, Caribbean Cement popped 50 cents to close at $78.50 in exchanging 24,157 stocks, Caribbean Producers gained 35 cents in closing at $10.35 in swapping 31,319,726 units. First Rock Capital rose 55 cents to $10.60 in trading 19,942 stock units, GraceKennedy fell $1 to end at $98 with the swapping of 48,096 units, Guardian Holdings slipped $1 to $521 after exchanging 12 stock units. Jamaica Broilers advanced $1.05 to close at $31.05 with owners swapping 13,372 stocks, Jamaica Producers shed 40 cents in closing at $24 with 10,946 shares changing hands, Jamaica Stock Exchange slipped 40 cents to $18.49 with a transfer of 6,824 shares.
Kingston Wharves popped 50 cents after ending at $43.50 with 4,479 stocks crossing the exchange, Mayberry Investments fell 99 cents to $7.50 in an exchange of 2,325 units, Mayberry Jamaican Equities shed 51 cents to settle at $8.50 with the swapping of 1,377,094 shares. Palace Amusement dropped $30 to end at $1,000 after trading 53 units, Sagicor Group shed $1 to close at $52 with an exchange of 64,397 stock units, Scotia Group rose 58 cents to $38.48 in transferring 42,472 shares. Seprod fell 69 cents in closing at $62.51 with 26,500 stocks changing hands and Sygnus Credit Investments rallied 50 cents to end at $15.50 after trading 83,428 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with 50 securities compared to 45 on Wednesday, with 18 rising, 16 declining leaving 16 unchanged. The PE Ratio, a formula for computing appropriate stock values, averages 15.8.The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasts by ICInsider.com for companies with financial years ending between the current year and August 2022.
November closed with an average of 233,949 units at $2,695,416.
Sagicor Real Estate Fund dipped 35 cents to $8.10 with 13,794 stock units changing hands, Scotia Group climbed $3.87 to $37.90 with the swapping of 87,019 stocks, Seprod declined $1.79 to close at $63.20 in an exchange of 3,064 units and Supreme Ventures fell 39 cents to $18.10 in the swapping of 185,634 shares.
The All Jamaican Composite Index declined 1,097.95 points to settle at 428,730.13, the Main Index fell 1,056.44 points to 388,038.97 and the JSE Financial Index shed 0.72 points to close at 94.62.
At the close, Barita Investments dipped 45 cents ending at $90 in switching ownership of 11,378 shares, Caribbean Cement shed $1.49 in closing at $75.99 after trading 42,732 stocks, Eppley advanced $2 to $38 in exchanging 439 stock units. First Rock Capital lost 60 cents to close at $10, with 19,949 units crossing the exchange, GraceKennedy gained 50 cents to end at $99 with a transfer of 55,967 units, Guardian Holdings fell $4 to $520 finishing with 3,104 shares changing hands. Jamaica Broilers advanced $1.19 to $30 with 11,382 stocks crossing the market, Jamaica Stock Exchange lost 40 cents to settle at $16.50 in exchanging 11,203 stock units, Kingston Properties fell 50 cents to $8.50 in transferring 1,010 stocks. Kingston Wharves popped $3 to close at $44 after trading 5,079 units, Palace Amusement dropped $35 to $995 trading 1 share, PanJam Investment rallied 60 cents to $68 with the swapping of 8,643 stock units. Proven Investments gained 34 cents in closing at $33.50 with 700 shares clearing the market, Sagicor Group shed $1.49 to end at $51 after exchanging 8,154 units, Salada Foods rose 33 cents to close at $6.35 in trading 292 stocks.
Scotia Group declined $1.47 to $34.03 in an exchange of 37,793 stock units, Supreme Ventures spiked $1.19 to finish at $18.49 with 7,659 units changing hands, Sygnus Credit Investments dipped 49 cents to close at $15 in exchanging 86,031 stocks and Wisynco Group popped 26 cents in closing at $16.30 with 175,332 stock units crossing the market.
Trading averages 151,742 units at $3,017,602, compared to 180,243 shares at $3,171,529 on Monday and month to date, an average of 453,032 units at $6,230,211, compared to 527,241 units at $7,021,494 on Monday. November closed with an average of 233,949 units at $2,695,416.
PanJam Investment spiked 90 cents in closing at $67.40 in switching ownership of 4,793 units, Proven Investments declined 34 cents to close at $33.16 in trading 11,958 shares, Sagicor Group advanced 63 cents to $52.49, with 4,085 stock units crossing the market. Seprod rallied $1.61 in closing at $65 while exchanging 45,460 stock units, Supreme Ventures lost 40 cents to end at $17.30 after exchanging 22,066 stocks and Wisynco Group fell 26 cents to $16.04 after trading 44,039 shares.
The All Jamaican Composite Index declined 1,914.65 points to 429,231.19, the JSE Main Index dropped 1,558.17 points to end at 388,388.22 and the JSE Financial Index lost 0.42 points to close at 95.01.
Trading averages 180,243 units at $3,171,529, versus 143,919 shares at $1,980,34 on Friday and for the month to date, trading averages 527,241 units at $7,021,494, compared to 640,639 units at $8,279,653 on Friday. November closed with an average of 233,949 units at $2,695,416.
NCB Financial shed $1.59 in closing at $121.21 with a transfer of 24,421 shares, 138 Student Living rallied $1.10 to $4.60, with 1,693 shares crossing the market, PanJam Investment fell $1.50 to $66.50 in an exchange of 78,298 units. Sagicor Group lost 54 cents to end at $51.86 in switching ownership of 1,587 stocks, Salada Foods shed 47 cents to finish at $6.03 with 31,500 stock units clearing the market, Scotia Group gained 50 cents after ending at $35.50 with 133,126 units changing hands and Supreme Ventures shed 30 cents to close at $17.70 with the swapping of 505 shares.
The other notable large TOP10 movers this week are;
The top three Main Market stocks are Guardian Holdings, Caribbean Producers and JMMB Group, projected to gain between 213 to 253 percent expected versus last weeks’ 214 to 254 percent.
The Junior Market closed the week with an average PE of 14.3 based on ICInsider.com’s 2021-22 earnings and currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 43 percent discount to that market’s average PE.
The Main Market TOP 10 average PE is 8.1, representing a 51 percent discount to the market and well below the potential of 20. A total of 17 stocks or 36 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
The All Jamaican Composite Index clawed back 39 percent of Thursday’s loss by jumping 3,101.27 points to 431,145.84, the JSE Main Index advanced 1,523.01 points, pulling back 23 percent of Thursday’s fall to close at 389,946.39 and the JSE Financial Index fell 0.40 points to finish at 95.43.
Trading averages 143,919 units at $1,980,349, versus 1,698,810 shares at $22,627,974 on Thursday and month to date, an average of 640,639 units at $8,279,653, down from 896,377 units at $11,522,859 on Thursday. November closed with an average of 233,949 units at $2,695,416.
NCB Financial advanced $1.80 in closing at $122.80 with 26,559 stocks changing hands, Proven Investments dipped 30 cents to close at $33.50 in trading 7,122 stock units, Scotia Group fell $2 to $35 with the swapping of 97,734 stocks and Seprod lost 61 cents after ending at $63.39 in switching ownership of 8,854 shares.
Trading averages 1,698,810 units at $22,627,974, versus 109,678 shares at $635,492 on Wednesday and month to date, an average of 896,377 units at $11,522,859. November closed with an average of 233,949 units at $2,695,416.
Mayberry Jamaican Equities rose 99 cents to $8.99, owners switching 600 stocks. 138 Student Living gained 39 cents in ending at $3.50 with 4,550 shares changing hands, Palace Amusement advanced $55 to $1,030 with two stock units clearing the market, PanJam Investment declined $1.97 to end at $68.01 in trading 414,053 units. Proven Investments gained 30 cents in closing at $33.80 with an exchange of 56,208 shares, Sagicor Group dipped 50 cents to $52.50 with the swapping of 1,640,433 stock units, Sagicor Real Estate Fund rallied 31 cents to $8.61 after exchanging 250 stocks. Scotia Group shed $1.50 to end at $37, with 6,656 shares crossing the market, Seprod gained 49 cents to settle at $64 in transferring 13,129 units, Stanley Motta gained 42 cents after ending at $5.67 in switching ownership of 1,368 stocks. Sygnus Credit Investments fell 48 cents to $15.31, with 25,551 units changing hands, Sygnus Real Estate Finance rose 51 cents to $16.01 after trading 1,023 stock units.
The All Jamaican Composite Index fell 1,704.80 points to 435,963.59, the JSE Main Index dived 2,729.98 points to 395,100.69 and the JSE Financial Index shed 1.43 points to end at 96.85.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and four with lower offers.
Scotia Group spiked 75 cents to end at $38.50 with 36,434 units crossing the market, Seprod popped 31 cents to $63.51 in switching ownership of 7,381 shares, Supreme Ventures rallied 49 cents in closing at $17.99 and trading 16,389 stocks. Sygnus Credit Investments popped 59 cents to $15.79 in transferring 60,631 stock units, Sygnus Real Estate Finance shed 51 cents to close at $15.50 in trading 2,224 units and Wisynco Group dipped 43 cents to $16.50 with the swapping of 80,624 stocks.
Market activity ended on Tuesday with robust gains for the Jamaica Stock Exchange Main Market. The All Jamaican Composite Index jumped by 4,559.46 points to 437,668.39, just over 7,000 points below the close for October. The JSE Main Index surged 5,036.25 points to 397,830.67 and the JSE Financial Index rose 1.80 points to 98.28. The volume of stocks trading slipped at the close on Tuesday with the market ending, with rising stocks exceeding those decliners 2 to 1.
Trading on hauled out 7,613,507 shares for $134,588,814 in contrast to 10,513,011 units at $104,608,393 on Monday. Transjamaican Highway led trading with 21.2 percent of total volume after transferring 1.62 million shares, followed by Jamaica Broilers with 14.3 percent and 1.09 million units and Wigton Windfarm 10 percent with an exchange of 762,810 units.
JMMB Group popped 35 cents to close at $38.40 with 102,208 shares changing hands, Margaritaville fell $5 in closing at $16 with one stock unit crossing the market, PanJam Investment popped $9.21 to $73.76 in an exchange of 823 units. Sagicor Group shed $2 to close at $53 in transferring 533,923 stock units and Scotia Group gained 30 cents in ending at $37.75 with 3,505 stocks changing hands, Supreme Ventures rallied 19 cents in closing at $17.50 in switching ownership of 195,825 shares and Wisynco Group increased 22 cents to $16.93 trading 123,466 units.