Guardian Holdings jumped 28.5 percent on limited volume after jumping $144 on the Jamaica Stock Exchange Main Market on Friday, with the supply of the stock available for sale virtually dried up after several months of selling pressure. The overall Main Market volume of stocks traded rose 12 percent, with a value 250 percent greater than on Thursday, leading the market to climb as rising stocks exceeded those declining.
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The All Jamaican Composite Index rallied 3,224.68 points to 423,550.33, the JSE Main Index jumped 3,601.11 to 372,936.80 and the JSE Financial Index popped 1.98 points to close at 89.43.
Trading ended with 51 securities compared to 58 on Thursday, with 21 rising, 16 declining and 14 ending unchanged.
At the close, 18,706,267 shares were exchanged for $161,301,374 versus 16,728,941 units at $46,042,543 on Thursday. Trading averaged 366,790 units at $3,162,772, compared to 288,430 shares at $793,837 on Thursday and month to date, an average of 228,567 units at $1,609,780, compared to 186,606 units at $1,138,336 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Mayberry Investments led trading with 6.92 million shares for 37 percent of total volume, followed by Wigton Windfarm with 6.52 million units for 34.8 percent of the day’s trade, Transjamaican Highway with 1.34 million units for 7.2 percent market share and Sagicor Select Financial Fund with 1.32 million units for 7 percent market share.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Berger Paints fell 85 cents to $11 in switching ownership of 4,806 shares, Caribbean Cement rose 70 cents in ending at $61.70 and trading 20,688 stocks, First Rock Real Estate popped 47 cents to end at $12.47 in an exchange of 2,996 units.GraceKennedy dropped $2.60 in closing at $96.30, with 104,922 stock units crossing the exchange, Guardian Holdings gained $144 to close at $650 with an exchange of 1,126 stocks, but the offer for the stock was at $590 at the close, Mayberry Investments climbed 35 cents to $9.20 and closed with 6,918,037 stock units changing hands. MPC Caribbean Clean Energy shed $1 in closing at $84 after trading 110 units, NCB Financial increased $1.58 to $99 while exchanging 75,228 shares, Palace Amusement rallied $122.99 to close at $879 after exchanging two units. 
Proven Investments declined 45 cents to end at $33 after trading 230 stock units, Scotia Group advanced 91 cents to $34.98, with 612,178 stocks crossing the market, and Seprod popped $1.93 to end at $70 with the swapping of 505 shares. Supreme Ventures lost $1.12 in closing at $27.88 after trading 289,299 stocks, Sygnus Credit Investments gained 39 cents to close at $13.60 in exchanging 52,252 shares, Sygnus Real Estate Finance fell $1.50 in ending at $11 with 1,089 units clearing the market and Wisynco Group shed 47 cents in ending at $18 with an exchange of 50,696 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The All Jamaican Composite Index rallied 543.67 points to 420,869.32, the JSE Main Index climbed 480.00 points to 369,335.69 and the JSE Financial Index added 0.40 points to close at 87.45.
At the close, Berger Paints rose 85 cents to $11.85 and closed with 89 shares changing hands, Caribbean Cement shed $1.45 in ending at $61 with 7,376 stock units clearing the market, Guardian Holdings advanced $1 to $506 after exchanging 105 units. Jamaica Broilers rallied 51 cents in closing at $29.37 in transferring 18,223 stocks, Jamaica Stock Exchange fell $1 to $17 after 6,864 stock units changed hands, Mayberry Investments fell $1.63 in closing at $8.85 after exchanging 26,148 shares. Mayberry Jamaican Equities declined 50 cents to $14 in an exchange of 106,063 units, NCB Financial popped $7.42 to end at $97.42, with 9,641 stocks crossing the market, 138 Student Living dropped 75 cents in ending at $4.30 in switching ownership of 2,895 stocks. Palace Amusement gained $1.01 to close at $756.01 after trading 50 units, PanJam Investment increased $1.40 to end at $59.60, with hinge shares crossing the exchange, Portland JSX gained 99 cents in closing at $9.50 in trading 1,524 stock units. Proven Investments popped 95 cents to close at $33.45, trading 563 stocks, 
Scotia Group lost 92 cents after ending at $34.07, with 12,502 stock units changing hands, Stanley Motta advanced 62 cents to $5.60 while exchanging 980 units and Sygnus Real Estate Finance increased 50 cents to $12.50 with the swapping of 364 shares.
The All Jamaican Composite Index dropped 3,995.89 points to settle at 420,325.65, the JSE Main Index declined by 3,019.85 points to 368,855.69 and the JSE Financial Index shed 1.03 points to settle at 87.45.
At the close, Berger Paints fell 93 cents to $11 after trading 3,154 shares, Eppley Caribbean Property Fund climbed $2 to close at $40 after exchanging 310 stocks, Guardian Holdings lost $1 in ending at $505 after switching ownership of 926 units. Jamaica Producers advanced 50 cents to $21.25, with 8,534 stock units crossing the market, Jamaica Stock Exchange declined 88 cents to end at $18 while exchanging 8,835 units and Mayberry Investments rose 85 cents to close at $10.48, with 4,504 shares clearing the market. NCB Financial shed $6 in ending at a 52 weeks’ low of $90 with an exchange of 22,866 stocks, PanJam Investment dropped $5.80 in closing at $58.20 trading 5,506 stock units, QWI Investments lost 11 cents in closing at 74 cents after the price hit an intraday 52 weeks’ low of 59 cents as investors traded 282,628, Scotia Group popped 92 cents to end at $34.99 after an exchange of 32,705 units. 
Supreme Ventures increased $1.52 to $28.67, with 23,538 shares crossing the market, Sygnus Real Estate Finance rallied 86 cents to close at $12, with 2,860 stock units changing hands and Wisynco Group dropped 52 cents to end at $18.40 after an exchange of 92,999 stocks.
The above shows that many investors are groping in the dark, hoping that a stock with the wind behind its back must be one to buy to make money. They ignore the simple but profound principle of buying low and selling high. The other factor that shows up in the judgement is why buy the stock after the split when it is more expensive than if purchased before. this is an age-old issue where investors feel that they are buying the stock cheaper than before but in fact, they are paying more for it and therefore reduce potential profit.
There was one change to the Junior Market TOP10 listings this past week, with General Accident returning at the expense of Dolphin Cove which rose 6 percent during the week to $15.93, the former price dropped to $5.07 from $5.99 at the close of the previous week.
The prospectus for One on One IPO is out with just over 125 million shares earmarked for the wider public. The PE ratio based on the company’s projections to August 2022 is just under 7 cents per share before tax for a PE ratio of around 14.5 just above the market average of 12.9. Based on where recent IPOs are valued investors can look for a price after listing around $1.50 but investors have priced many of them closer to 30 times 2022 earnings in which case a price of $2 is not out of the reckoning.
The All Jamaican Composite Index gained 1,802.80 points to close at 429,500.62, the JSE Main Index climbed 1,031.73 points to 375,693.41 and the JSE Financial Index inched 0.52 points higher to 89.64.
At the close, Eppley dropped $1.98 to end at $38.70 with an exchange of 866 shares, Guardian Holdings shed $5 in ending at $505, with 139 stocks crossing the market, Jamaica Producers climbed $1.71 to $22.49 in an exchange of 143,940 units. Jamaica Stock Exchange increased $1.54 to close at $19.49, with 235,971 stock units clearing the market, Mayberry Investments gained 89 cents in closing at $10.69 after trading 37,405 units, Mayberry Jamaican Equities lost 50 cents to end at $14.50 in exchanging 570 stock units. NCB Financial rallied $6.95 to $97, trading 15,437 stocks, Palace Amusement fell $1 to close at $889 in exchanging one share, PanJam Investment rose 54 cents in closing at $64.99 with the swapping of 11,910 units. Proven Investments declined 79 cents after ending at $32.51, with 44,818 stock units crossing the exchange, Salada Foods popped 50 cents to end at $5.10 in trading 4,882 stocks, Scotia Group advanced 47 cents while ending at $36.47 in trading 17,005 shares. 
Seprod gained $1.93 in closing at $70 after exchanging 23,844 units, Supreme Ventures climbed 62 cents to close at $30, with 184,773 stocks changing hands.
A total of 56 securities traded compared to 60 on Wednesday, with 13 rising, 18 declining and 25 left unchanged.
Massy Holdings rose 99 cents to $91 while exchanging two stock units, NCB Financial lost $7.45 to close at $90.05 in an exchange of 111,712 shares, PanJam Investment fell 55 cents to $64.45, with 502 stocks changing hands. Salada Foods dropped 50 cents to end at a 52 weeks’ low of $4.60 with an exchange of 11,370 shares and Supreme Ventures shed 62 cents in closing at $29.38 with an exchange of 196,312 stocks.
Overall, 11,320,379 shares were traded for $157,629,727 compared to 7,889,885 units at $136,235,111 on Tuesday. Trading averages 188,673 units at $2,627,162, versus 138,419 shares at $2,390,090 on Tuesday and month to date, an average of 164,961 units at $1,643,100, compared to 163,533 units at $1,583,820 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
At the close, Eppley Caribbean Property Fund jumped $2.53 to $43.23 exchanging 107 shares, Guardian Holdings dropped $11.99 to $506, with 1,038 stocks changing hands, Jamaica Producers popped 49 cents to end at $22.49 in exchanging 7,946 stock units. Jamaica Stock Exchange lost 55 cents to close at $17.40 after 29,411 units crossed the exchange, Kingston Properties rose 48 cents in closing at $7.47 in exchanging 42,948 units, Kingston Wharves declined 35 cents to end at $37.65 in an exchange of 4,713 stock units. Massy Holdings shed 99 cents to close at $90.01 in trading 480,682 stocks, Mayberry Investments fell 79 cents to $9.80, with 49,368 shares crossing the market, Mayberry Jamaican Equities dropped 50 cents to $15 with an exchange of 35,964 shares. MPC Caribbean Clean Energy advanced $4 to $85 with the swapping of 750 units, NCB Financial rallied $2.43 to $97.50 after exchanging 72,234 stocks, 138 Student Living climbed 61 cents to $5 by trading 2,002 stock units. PanJam Investment gained $1.50 in closing at $65 in switching ownership of 369 units, Portland JSX climbed $1.30 to close at $9.80 after an exchange of 3,000 shares,Proven Investments declined 49 cents to end at $33.50, with 3,506 stock units crossing the market. 
Seprod lost $2.93 to end at $68.07 after 834 stocks changed hands, Supreme Ventures shed 60 cents to close at $30 with 103,257 stocks clearing the market, Sygnus Credit Investments increased 43 cents ending at $13.95 after trading 30,742 units and Sygnus Real Estate Finance fell $1.85 in closing at $11 while exchanging 5,281 stock units.
At the close, Barita Investments declined 70 cents to end at $88.06 with an exchange of 29,688 shares, Berger Paints gained 69 cents after finishing at $12.19 with five stock units crossing the exchange, Caribbean Cement rallied 51 cents to $63.49 with the swapping of 2,645 units. Jamaica Broilers rallied 50 cents to close at $29 in an exchange of 1,908,234 stocks, Jamaica Producers shed 49 cents in closing at $22 with 20,587 shares clearing the market, Jamaica Stock Exchange rose 95 cents in closing at $17.95 after exchanging 2,204 stocks. JMMB Group fell 54 cents to $42.91, with 405,966 stock units changing hands, Massy Holdings advanced 50 cents to close at $91 in trading 44,934 units, Mayberry Investments popped 59 cents to $10.59 after an exchange of 4,056 units. Mayberry Jamaican Equities fell 49 cents to end at $15.50, with 34,029 stock units crossing the market, but only after hitting a record high of $16. MPC Caribbean Clean Energy dropped $4 after ending at $81 in switching ownership of 173 stocks, NCB Financial shed $1.93 to close at $95.07, with 43,592 shares crossing the market. Palace Amusement climbed $136.63 to $890 after exchanging three units, PanJam Investment declined 50 cents in closing at $63.50 while exchanging 3,503 stock units, Portland JSX rose 50 cents to end at $8.50 trading 20 stocks. Proven Investments gained 64 cents after ending at $33.99 and finishing trading 12,649 shares, Salada Foods dropped 35 cents to close at a 52 weeks’ low of $5 in exchanging 28,295 units and is poised to fall further. Seprod advanced $2.90 to $71, with 8,519 stocks clearing the market. 
Stanley Motta popped 50 cents in closing at $5.50, with 10,000 stock units crossing the exchange, Supreme Ventures climbed $1.60 to $30.60 after trading 151,914 shares and Sygnus Credit Investments lost 43 cents to $13.52, with 37,100 shares changing hands.
The average trade on Monday was 88,777 units at $628,334, down from 165,836 shares at $2,086,009 on Friday and month to date, an average of 165,057 units at $1,534,877, compared to 170,079 units at $1,594,558 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
At the close, Caribbean Cement gained $1.05 in closing at $62.98 after exchanging 24,466 shares, Eppley dropped $1 to $41, with 129 units clearing the market, Eppley Caribbean Property Fund rallied 75 cents to $40.75 in exchanging 50 stock units. Guardian Holdings jumped $11.98 to close at $517.99 after trading 126 stocks, Jamaica Broilers lost 50 cents to end at $28.50 with an exchange of 20,724 stock units, Jamaica Producers advanced 49 cents to close at $22.49 with the swapping of 3,393 stocks. JMMB Group popped 45 cents to end at $43.45, with 63,231 units crossing the market, Massy Holdings fell 40 cents in ending at $90.50 in exchanging 101,719 shares, Mayberry Investments shed 40 cents to $10, with 39,553 shares crossing the market. Mayberry Jamaican Equities climbed $1.59 in closing at $15.99, with an exchange of 74,885 stock units, NCB Financial declined 95 cents in closing at $97 after exchanging 15,535 stocks, 138 Student Living fell 77 cents to close at $4.39 in switching ownership of 13,129 units. Palace Amusement dived $146.63 to a 52 weeks’ low of $753.37, with 530 units crossing the exchange, Proven Investments increased 35 cents to end at $33.35, with 7,977 stocks changing hands, Radio Jamaica dropped 36 cents to $2.47 in exchanging 218,628 shares and Stanley Motta lost 60 cents to $5 in trading 94,226 stock units.
In the preference segment, Eppley 7.25% preference share shed $1 to close at $20 in trading 1,389 shares, JMMB Group 7.25% due 2024 preference share lost 39 cents to end at $1.51 in trading 71,778 stock units and 138 Student Living s preference share jumped $2.94 in closing at a record $32.43 while exchanging 15 units, as the price defiles logic with a dividend yield of around three percent at the current price.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
Proven Investments declined 98 cents in closing at $33, with 6,322 stock units crossing the market, Scotia Group shed $1 to end at $36 after exchanging 35,370 units and Supreme Ventures dropped $2.90 to close at $29.10 crossing the market 865,493 units.