Market activity ended on Thursday with the money entering the more than doubling trading on Wednesday on the Jamaica Stock Exchange Main Market and ended with a sharp fall in the market with the All Jamaican Composite Index plunging 6,554.82 points to 436,610.31, the JSE Main Index dived 5,492.32 points to 395,073.35 and the JSE Financial Index fell 1.42 points to end at 97.49.
Fifty securities traded, compared to 49 on Wednesday, with 15 rising, 22 declining and 13 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16. The PE ratio for the JSE Main and USD Market closing quotes are computed based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
A total of 12,654,913 shares changing hands for $92,312,652 versus 11,360,273 units at $45,708,326 on Wednesday. Sagicor Select Financial Fund led trading with 26.4 percent of total volume with a transfer of 3.34 million shares followed by Wigton Windfarm with 22.3 percent after trading 2.82 million units, JMMB Group 7.5% preference share accounted for 12.7 percent with 1.61 million and JMMB Group 7.35% – 2028 preference share contributed 9.5 percent after trading 1.21 million units.
Trading averages 253,098 units at $1,846,253, up from 231,842 shares at $932,823 on Wednesday and month to date, an average of 165,227 units at $1,191,542, compared to 154,766 units at $1,113,600 on the previous day. December closed with an average of 479,143 units at $6,686,322.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments lost 42 cents to end at $95.50 in exchanging 10,909 shares, Berger Paints shed 49 cents in closing at $12.50 with a transfer of 10,109 stock units, Caribbean Producers popped 91 cents to close at a 52 weeks’ high of $16.30 in trading 338,318 units. Eppley Caribbean Property Fund declined $7.49 to close at $36.31 in switching ownership of 4,500 stocks, GraceKennedy fell 61 cents to $98.89 after 129,890 units crossed the market, Guardian Holdings dropped $18 to end at $512 with the swapping of 4,265 shares. Jamaica Stock Exchange shed 50 cents to finish at $16.50 with 74,726 stock units changing hands, JMMB Group lost 35 cents to close at $38.15 with an exchange of 97,814 stocks, Kingston Properties fell 71 cents to $9 in switching ownership of 382 stock units. Margaritaville rose $2.10 to $16.80 in trading 450 stocks, MPC Caribbean Clean Energy declined $3 to a 52 weeks’ low of $97 with the swapping of 696 shares, NCB Financial shed $1.50 to end at $127 with 44,195 units crossing the market. Palace Amusement climbed $95 to close at $995 in exchanging 59 stock units, PanJam Investment fell $1.20 to $64.80 after 4,950 stocks cleared the market, Sagicor Group declined $5.46 in closing at $51.51 and switching ownership of 13,479 shares.
Scotia Group fell $1.15 to $36.34 after exchanging 19,909 units and Seprod gained 90 cents to settle at $63 in an exchange of 110,300 units.
In the preference segment, Productive Business Solutions 9.75% preference share spiked $4 to end at $108 in switching ownership of 758 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The All Jamaican Composite Index advanced 2,908.68 points to 443,165.13, the JSE Main Index rallied 3,210.20 points to end at 400,565.67 and the JSE Financial Index popped 0.99 points to settle at 98.91.
The average trade for the day was 231,842 units at $932,823 compared to 94,316 shares at $686,412 on Tuesday and month to date, an average of 154,766 units at $1,113,600, against 144,586 units at $1,137,476 on Tuesday. December closed with an average of 479,143 units at $6,686,322.
Proven Investments rallied 61 cents to end at $33.10 after 460 shares crossed the market, Sagicor Group climbed $4.67 in closing at $56.97 with 6,918 stock units clearing the market, Scotia Group advanced $1.49 to end at $37.49 with investors switching ownership of 43,152 stocks. Seprod fell 40 cents to end at $62.10 in transferring 29,290 shares and Wisynco Group rallied 87 cents to $17.89 in trading 46,077 stock units.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and one with a lower offer.
Palace Amusement advanced $10 to end at $890 in transferring 46 stocks, PanJam Investment shed $1.50 after ending at $66 with 53,482 units crossing the market, Proven Investments dipped 48 cents in closing at $32.49 with 13,577 shares changing hands. Scotia Group gained 50 cents to finish at $36 in switching ownership of 61,922 stock units, Seprod shed $2.49 to end at $62.50 in an exchange of 2,778 shares, Stanley Motta popped 30 cents in closing at $5.50 after trading 7,000 stock units and Supreme Ventures rose 60 cents to end at $17.80 in an exchange of 55,675 stocks.
The All Jamaican Composite Index rose 567.11 points and closed at 441,936.51, the JSE Main Index advanced 1,784.89 points to 399,953.72 and the JSE Financial Index rose 0.63 points to settle at 98.58.
Trading averages 218,594 units at $710,771 versus 163,287 shares at $3,083,851 on Friday and month to date, an average of 152,965 units at $1,212,654 compared to 140,429 units at $1,308,519 on Friday. December closed with an average of 479,143 units at $6,686,322.
Jamaica Stock Exchange rose 89 cents to $17.50 in trading 15,630 stock units, JMMB Group shed 35 cents to end at $38.90 after exchanging 64,616 units, MPC Caribbean Clean Energy shed $5 to close at $110 with the swapping of 470 stocks. NCB Financial lost 49 cents to end at $128.51 in switching ownership of 4,099 units, Palace Amusement dropped $115 to close at $880 in transferring 820 shares, PanJam Investment fell 50 cents to $67.50 with 2,227 stock units crossing the market. Supreme Ventures lost 30 cents in closing at $17.20 after an exchange of 21,716 stocks, Sygnus Real Estate Finance fell 35 cents to end at $17.50 with 300 stocks clearing the market and Wisynco Group shed 97 cents after ending at $17 with the swapping of 65,947 shares.
Those developments bode well for profits and stock prices in 2022 when the economy is expected to recover from the sharp decline in 2020. Remittances for 2021 are expected to be over US$600 million more than for the record $2.9 billion intakes in 2020 and the tourism industry is expected to be back at 2019 levels or close to it but is expected to far exceed that in 2020 all things being equal. More growth is expected from exports and the BPO sector, accordingly, the country should see significant additional foreign exchange inflows in 2022 than at any time in its history. Bear in mind that the signal of how well the country is doing in international trade, the net international reserves rose US$104 million in December over November to close the year at $$4 billion and is up fromUS$3.1 billion at the end of 2020. The early signal of tourism performance shows December 2021 behind a similar period in 2019 by just 24 percent compared to a fall of 45 percent for all of 2021 versus 2019.
In our 2021, ICInsider.com stated the period ahead, “seems set to be the year of surprises as many stocks that suffered badly in 2020 could be making a major turnaround in revenues and profit, while some that may not fully recover could start showing good signs of returning to normalcy.” That is exactly what happened during the year with strong gains from the likes of Caribbean Producers, Express Catering, Main Event, Medical Disposables, Radio Jamaica, Stationery and Office Supplies and
Elsewhere, investors in the Spur Tree Spices Initial Public offer will receive just over 11.76 percent of the shares they applied for in the heavily oversubscribed issue that is sure to drive the stock price with a big bang in the first week of trading which should be ahead of the end of January.
The average gains projected for the TOP 10 Junior Market stocks is 148 percent and Main Market stocks moved from 152 percent to this weeks’ 146 percent.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.4 representing a 49 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 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.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
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Trading averages 163,287 units at $3,083,851 versus 118,286 shares at $667,562 on Thursday and month to date, an average of 140,429 units at $1,308,519, compared to 135,419 units at $919,405 on the prior day. December averaged 479,143 units at $6,686,322.
PanJam Investment rose 50 cents to $68 in exchanging 2,155 stock units, Proven Investments shed 48 cents in closing at $33.01 in an exchange of 2,640 shares, Sagicor Group fell 79 cents to end at $52.31, with 11,989 units crossing the market. Seprod lost 79 cents to $65 in trading 3,110 shares, Stanley Motta dropped 68 cents to $5.20 in switching ownership of 11,000 stock units, Sygnus Real Estate Finance climbed $2.34 to close at $17.85 while exchanging 2,719 stocks and Wisynco Group increased 47 cents to end at $17.97 with an exchange of 39,313 units.
The All Jamaican Composite Index climbed 2,108.36 points to 443,270.70, the JSE Main Index popped 1,860.79 points to close at 400,653.10 398,792.32 and the JSE Financial Index gained 0.58 points to end at 98.62. Similar to Wednesday’s trading, 54 securities traded, with 24 rising, 17 declining and 13 ending unchanged.
Trading averages 118,286 units at $667,562, up from 100,923 shares at $497,100 on Wednesday and month to date, an average of 135,419 units at $919,405, compared to 141,026 units at $1,001,827 on the prior day. December closed with an average of 479,143 units at $6,686,322.
Seprod advanced $3.69 in closing at $65.79 after 5,711 stock units crossed the exchange and Stanley Motta spiked 77 cents to end at $5.88, with 4,000 shares clearing the market.
At the close, Barita Investments spiked $3.87 to close at $96.87 in an exchange of 5,145 shares, Caribbean Cement popped 89 cents to $72.99 trading 52,388 units, Eppley climbed 50 cents to $36 after 970 stocks crossed the exchange. Guardian Holdings advanced $1.50 to end at $525 in exchanging 3,089 stock units, Jamaica Broilers declined 97 cents in closing at $29, with 3,174 shares clearing the market, Jamaica Producers dropped 50 cents in ending at $22.50 after trading 7,883 stocks. Jamaica Stock Exchange rose 50 cents to close at $17 with the swapping of 28,789 units, JMMB Group fell 38 cents to end at $39 with 20,280 stock units changing hands, Mayberry Jamaican Equities shed 35 cents to $9 trading 9,677 shares. NCB Financial rallied $3.49 in closing at $128.49 after exchanging 8,481 stock units, Palace Amusement gained $20 to end at $995 while 26 units changed hands, Sagicor Group climbed $1 to $54 in switching ownership of 9,100 stocks. 
Salada Foods lost 41 cents in closing at $6.57, with 12,580 units crossing the market, Scotia Group climbed 49 cents to close at $35.49 exchanging 16,850 shares, Seprod shed $3.30 to $62.10 12,582 after stock units crossed the market. Sygnus Real Estate Finance fell $2.48 to end at $15.52 after trading 500 stocks and Wisynco Group declined 45 cents to close at $17.35 with an exchange of 57,334 stock units.
The All Jamaican Composite Index plunged 5,072.14 points to close at 438,376.71, the JSE Main Index dived 3,923.09 points to end at 396,397.70 and the JSE Financial Index declined 1.00 points to settle at 97.34.
Trading averages 153,546 shares at $819,770, down from 167,401 sunits at $1,667,335 on Monday and month to date, an average of 160,536 units at $1,247,370. Trading in December closed with an average of 479,143 units at $6,686,322.
MPC Caribbean Clean Energy popped $15 in closing at $115 in an exchange of 1,347 stock units, Palace Amusement shed $75 in ending at $975 while exchanging 40 stocks, Portland JSX climbed 58 cents to end at $7.50, with 5,865 units changing hands. Scotia Group slipped 50 cents to $35 trading 44,961 units, Stanley Motta fell 84 cents in closing at $5.11 with an exchange of 1,000 shares, Sygnus Real Estate Finance rose $2.49 to $18 in switching ownership of 1,329 stock units and Wisynco Group rallied 30 cents to $17.80 after exchanging 252,736 stocks.
