JSE Main Market drops as trading jumps

A total of 22 stocks rose and 22 declined, leaving 16 ending unchanged at the close of trading on the Jamaica Stock Exchange Main Market on Monday, with trading in 60securities compared with 58 on Friday as the market closed with the volume of stocks traded rising 171 percent and the value 148 percent more than on Friday and resulted in the market indices closing lower.
Trading ended with an exchange of 24,989,216 shares for $156,897,201 compared with 9,234,717 stock units at $63,291,889 on Friday.
Trading averaged 416,487 shares at $2,614,953 compared to 159,219 units at $1,091,239 on Friday and month to date, an average of 297,960 stocks at $1,408,053, compared with 286,472 units at $1,291,067 on the previous day and January with an average of 265,804 units at $2,438,118.
Carreras led trading with 10.07 million shares for 40.3 percent of the volume followed by Wigton Windfarm with 7.44 million units for 29.8 percent of the day’s trade, JMMB 9.5% preference share closed with 1.91 million units for 7.6 percent market share and Transjamaican Highway with 1.76 million units for 7.1 percent of the total volume.
The All Jamaican Composite Index skidded 1,953.23 points to end the day at 371,323.01, the JSE Main Index dropped 3,941.08 points to wrap up trading at 331,907.30 and the JSE Financial Index slipped 0.58 points to settle at 71.50.
The Main Market ended trading with an average PE Ratio of 13.7. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments sank $1.50 to end at $69.90 in an exchange of 24,819 shares, Berger Paints skidded 78 cents in closing at $5.80 with investors trading 11,188 stocks, Caribbean Cement rose $2.20 to $59.20, with 10,200 units passing through the exchange. Caribbean Producers rallied 50 cents to $10.14, with 156,924 stocks changing hands, Eppley increased $3.51 and ended at $38.50 after an exchange of 2,304 shares, First Rock Real Estate fell 48 cents to $8.50 and closed with investors exchanging of stock units. Guardian Holdings dropped $10 to close at $360 while exchanging 122 units, Jamaica Producers shed 84 cents in closing at $23.10 in trading 1,676 stock units, Jamaica Stock Exchange declined by 90 cents to $9 with 12,102 shares changing hands. Kingston Properties rose 30 cents to $7.30 in switching ownership of 28,055 stocks, Kingston Wharves popped $1.42 to $30.17 with investors trading 13,839 units, Margaritaville fell 48 cents to close at $17 after an exchange of 100 stock units. Massy Holdings dipped $1.49 to close trading 1,086 shares at $90.01, Mayberry Jamaican Equities climbed $1.10 to $10.10 as investors exchanged 216,456 stocks, Stanley Motta sank $1 and ended at $6 after 59,210 units passed through the market. Sygnus Real Estate Finance skidded $1.40 to $9.85 with a transfer of 13,803 stock units and Victoria Mutual Investments lost 30 cents, closing at $2.70 after trading 109,808 shares.

In the preference segment, Eppley 7.50% preference share rallied $1.59 and ended at $7.47 after 540 stocks crossed the market and 138 Student Living preference share rose $5.55 to close at $190 after an exchange of 50 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More gains for JSE Main Market

The Jamaica Stock Exchange Main Market continues it 2024 rally in ending higher on Friday, with the volume of stocks traded declining 76 percent and the value 59 percent lower than on Thursday, with trading in 58 securities compared with 57 on Thursday, with prices of 22 stocks rising, 20 declining and 16 ending unchanged.
Trading ended with 9,234,717 shares trading at $63,291,889 compared with 38,589,987 units at $156,062,036 on Thursday.
Trading averaged 159,219 shares at $1,091,239 compared to 677,017 units at $2,737,930 on Thursday and month to date, an average of 286,472 units at $1,291,067 compared to 299,628 units at $1,311,727 on the previous day and January with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 3.91 million shares for 42.3 percent of total volume followed by Transjamaican Highway with 1.12 million stock units for 12.1 percent of the day’s trade, JMMB Group with 1.12 million units for 12.1 percent of market share and Sagicor Select Financial Fund with 1.10 million stocks for 11.9 percent of the total volume.
The All Jamaican Composite Index rose 1,293.92 points to 373,276.24, the JSE Main Index popped 807.06 points to close at 335,848.38, up 3.1 percent for the year to date and the JSE Financial Index rallied 0.42 points to close at 72.08.
The Main Market ended trading with an average PE Ratio of 13.7.The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments popped 30 cents to end at $71.40 in swapping 373 stock units, Berger Paints climbed 38 cents to $6.58 with investors trading 153 shares, Caribbean Cement increased $1.02 to $57 in an exchange of 20,436 units. Eppley shed $1 and ended at $34.99, with 4,347 stocks crossing the market, GraceKennedy sank 30 cents to close at $75.30 in an exchange of 17,930 units, Guardian Holdings jumped $19.99 to $370 with traders dealing in 1,950 stocks. Jamaica Producers gained 84 cents and ended at $23.94, with 235 shares crossing the exchange, Margaritaville rallied $1.14 to close at $17.48 with a transfer of 101 stock units, Massy Holdings skidded $5.50 to end at $91.50 while trading 6,203 shares. Pan Jamaica advanced $1.01 in closing at $51.51 as 29,192 units passed through the market, Sagicor Group rose 50 cents to $44 as investors exchanged 5,201 stocks, Scotia Group rallied $1 to close at $46 closing with an exchange of 57,369 stock units. Stanley Motta increased 70 cents to end at $7 in trading 18,743 shares and Supreme Ventures popped 30 cents to $26.50 after exchanging 53,468 stocks.
In the preference segment, 138 Student Living preference share fell $32.55 and ended at $184.45 with investors dealing in 12 units and Productive Business Solutions 9.75% preference share dropped $17.94 to $101.66 after an exchange of 50 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Gains for JSE Main market

Stocks recorded gains in trading on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded rising 200 percent, with a 190 percent increase in value over trading on Tuesday, with 57 securities changing hands compared to 55 on Tuesday, with prices of 26 stocks rising, 21 declining and 10 ending unchanged.
Investors traded 38,589,987 shares  at $156,062,036 up from 12,851,415 units at $53,884,935 on Tuesday.
Trading averaged 677,017 shares at $2,737,930 compared to 233,662 units at $979,726 on Tuesday and month to date, an average of 299,628 units at $1,311,727 compared with 256,947 units at $1,150,430 on the previous day and January with an average of 265,804 units at $2,438,118.
Transjamaican Highway led trading with 26.75 million shares for 69.3 percent of total volume followed by Wigton Windfarm with 3.84 million units for 10 percent of the day’s trade and JMMB 9.5% preference share with 3.64 million units for 9.4 percent of the day’s market share.
The All Jamaican Composite Index increased 1,143.26 points to settle at 371,982.32, the JSE Main Index climbed 634.96 points to settle at 335,041.32 and the JSE Financial Index increased 0.41 points to cease trading at 71.66.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments climbed 92 cents to end at $71.10 and closed with 807 shares changing hands, Eppley Caribbean Property Fund popped $2.50 in closing at $40 after exchanging 750 units, First Rock Real Estate advanced 48 cents to $8.98 with investors trading 469 shares. GraceKennedy sank 40 cents to close at $75.60 after an exchange of 57,232 stock units, Guardian Holdings declined $17.99 and ended at $350.01 with investors transferring 43 shares, Jamaica Producers lost $1.10 to $23.10, with 1,421 stock units crossing the market. JMMB Group rose $2.95 to close at $27 with a transfer of 720,211 stock units, Kingston Wharves gained 40 cents to end at $28.50, with 2,699 units changing hands, Margaritaville rallied $1.48 in closing at $16.34 after 30 stocks passed through the market. Massy Holdings skidded $2.50 and ended at $97 in trading 1,315 units, Mayberry Jamaican Equities fell 53 cents to $9, with 230 shares crossing the exchange, MPC Caribbean Clean Energy increased $14.50 and ended at $91 with traders dealing in just one stock unit. NCB Financial climbed $1 to end at $69.75 as investors exchanged 62,492 shares, Pan Jamaica dropped 70 cents in closing at $50.50 after a transfer of 1,265 stock units, Proven Investments popped $2.02 to close at $24.97 with 100,444 stocks clearing the market. Sagicor Group shed 50 cents to end at $43.50 with an exchange of 7,767 units, Sagicor Real Estate Fund dipped 32 cents in closing at $7.62 after 1,375 stocks crossed the market, Salada Foods advanced 48 cents and ended at $3.60 in an exchange of 143,597 shares. Seprod rose 75 cents to close at $83.75 with investors swapping 3,912 stock units, Stanley Motta sank 70 cents to end at $6.30 in switching ownership of 1,113 units, Supreme Ventures shed 30 cents to $26.20 while exchanging 4,440 stocks. Sygnus Credit Investments rallied 65 cents and ended at $11.60 in trading 103,323 units and Sygnus Real Estate Finance increased 65 cents to end at $11.25 with investors dealing in 4,193 shares.
In the preference segment, Eppley 7.50% preference share declined 90 cents in closing at $6 in an exchange of 705 stock units. Jamaica Public Service 7% gained $5.25 to close at $48.25 with investors swapping 19 shares and 138 Student Living preference share popped $3 to $217 with an exchange of 5 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading dips on JSE Main market

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Trading on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 64 percent and the value 61 percent lower than on Monday, with trading in 55 securities compared with 58 on Monday, with prices of 24 stocks rising, 19 declining and 12 ending unchanged.
The market closed with 12,851,415 shares trading for $53,884,935, down from 35,567,325 units at $139,024,409 on Monday.
Trading averaged 233,662 shares at $979,726 compared to 613,230 units at $2,396,973 on Monday and month to date, an average of 256,947 units at $1,150,430, compared with 259,799 units at $1,171,340 on the previous day and January  with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 4 million shares for 31.1 percent of total volume followed by JMMB 9.5% preference share with 3.94 million units for 30.7 percent of the day’s trade and Transjamaican Highway with 1.83 million units for 14.3 percent of the volume of stocks traded.
The All Jamaican Composite Index popped 93.57 points to close trading at 370,839.06, the JSE Main Index fell 377.08 points to finish at 334,406.36 and the JSE Financial Index sank 0.55 points to close at 71.25.
The Main Market ended trading with an average PE Ratio of 13.5. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments dipped $1.02 to end at $70.18 in trading 25,060 stock units, Caribbean Cement climbed $1.99 to $55.99, with 5,141 shares changing hands, Eppley popped $1.99 to $35.99 as investors exchanged 5,247 stocks. Eppley Caribbean Property Fund fell by $2.50 to close at $37.50, with 7,102 units crossing the market, GraceKennedy advanced 44 cents and ended at $76 with a transfer of 2,422 stocks, Guardian Holdings rose $8 to $368 with 19 units clearing the market. Jamaica Broilers declined 50 cents to close at $34 after closing with an exchange of 28,112 shares, Jamaica Producers rallied 65 cents to end at $24.20 with investors trading 84 stock units, JMMB Group shed $1.39 in closing at $24.05 while exchanging 242,450 shares. Kingston Wharves dropped $2.40 and ended at $28.10 in switching ownership of 80,542 units, Massy Holdings lost 50 cents to close at $99.50 after exchanging 26 stocks, Pan Jamaica increased $1.08 to end at $51.20 with investors trading 189 stock units. Sagicor Group gained 50 cents in closing at $44 in an exchange of 7,763 shares, Salada Foods sank 33 cents and ended at $3.12 with investors swapping 11,295 units, Scotia Group rose 50 cents to close at $45 with an exchange of 47,920 stocks. Seprod rallied $1 to $83, with 2,377 stock units crossing the market, Supreme Ventures increased $1.97 and ended at $26.50 with investors transferring 68,313 shares, Victoria Mutual Investments climbed 32 cents in closing at $3 in an exchange of 49,930 units and Wisynco Group skidded 30 cents to close at $21.70 with investors dealing in 307,864 stocks.
In the preference segment, Jamaica Public Service 7% sank $5.80 to end at $43 after a transfer of 561 stock units and Productive Business Solutions 10.5 % preference share declined $16 to $1284 with traders dealing in 3 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main market declines

Trading on the Jamaica Stock Exchange Main Market ended on Monday, with the volume of stocks traded jumping 135 percent and the value 64 percent more than on Friday, with trading in 58 securities compared with 53 on Friday, with prices of 23 stocks rising, 19 declining and 16 ending unchanged.
The market closed with 35,567,325 shares trading for $139,024,409 up from 15,118,549 units at $85,008,912 on Friday.
Trading averaged 613,230 shares at $2,396,973 compared with 285,256 units at $1,603,942 on Friday and month to date, an average of 259,799 units at $1,171,340, in comparison with 207,372 units at $989,533 on the previous day and January closing with an average of 265,804 units at $2,438,118.
QWI Investments led trading with 13.42 million shares for 37.7 percent of total volume, following one major seller and two main buyers, followed by Wigton Windfarm with 8.98 million units for 25.3 percent of the day’s trade, Transjamaican Highway ended with 5.22 million stock units for 14.7 percent market share, Mayberry Group finished trading with 1.31 million units for 3.7 percent of the overall volume, Carreras chipped in with 1.26 million stocks for 3.5 percent stocks traded and Sagicor Select Financial Fund with 1.04 million units for 2.9 percent of total volume.
The All Jamaican Composite Index dropped 775.69 points to end at 370,745.49, the JSE Main Index shed 467.96 points to close trading at 334,783.44 and the JSE Financial Index shed 0.22 points to end at 71.80.
The Main Market ended trading with an average PE Ratio of 13.7. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments gained 93 cents to end at $71.20 in trading 144,505 units, Berger Paints climbed 46 cents and ended at $6.23 with 100 stocks clearing the market, Caribbean Cement rose 49 cents in closing at $54 with investors dealing in 5,877 shares. Eppley declined $4.50 to end at $34 with a transfer of 447 stock units, Guardian Holdings shed $8 to close at $360 with investors swapping 539 shares, Jamaica Broilers advanced 50 cents to $34.50 in an exchange of 24,238 stocks. Jamaica Producers dropped $1.45 in closing at $23.55, with 274,748 units crossing the market, JMMB Group fell 94 cents to $25.44 as investors traded 535,797 stock units, Kingston Wharves popped $2.50 to end at $30.50 after 38,792 shares were traded. Massy Holdings gained $1 and ended at $100 with investors transferring 594 units, NCB Financial rallied 60 cents to $68.50 after exchanging 43,508 stocks, Sagicor Group skidded 49 cents and ended at $43.50, with 54,195 stock units crossing the market. Salada Foods rose 35 cents to close at $3.45 with traders dealing in 285 shares, Scotia Group lost $1 to end at $44.50 and closed after an exchange of 208,902 units, Supreme Ventures dipped $1.17 to close at $24.53 with investors trading 326,625 stocks, Sygnus Credit Investments climbed 42 cents to $10.94 in an exchange of 855 stock units and Victoria Mutual Investments sank 52 cents to end at $2.68 changing hands 196,536 shares.
In the preference segment, Eppley 7.25% preference share increased 90 cents in closing at $18.90 after an exchange of 500 stocks. Jamaica Public Service 7% popped $1.80 and ended at $48.80 as 225 units passed through the market and Productive Business Solutions 10.5 % preference share advanced $210 to close at $1,300 with 10 stock units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

The JSE Main Market continues to rally

Trading on the Jamaica Stock Exchange Main Market ended on Friday, with a 42 percent rise in the volume of stocks traded with a value 158 percent more than on Thursday, with trading in 53 securities compared with 50 on Thursday, with prices of 23 stocks rising, 19 declining and 11 ending unchanged.
The market closed with the trading of 15,118,549 shares at $85,008,912 up from 10,666,602 units at $32,927,053 on Thursday.
Trading averaged 285,256 shares for $1,603,942 compared to 213,332 units at $658,541 on Thursday and month to date, an average of 207,372 units at $989,533 compared with 195,160 units at $893,191 on the previous day and January with an average of 265,804 units at $2,438,118.
JMMB 9.5% preference share led trading with 5.81 million shares for 38.4 percent of total volume followed by Wigton Windfarm with 4.47 million units for 29.6 percent of the day’s trade and Transjamaican Highway with 1.05 million units for 6.9 percent of stocks trading.
The All Jamaican Composite Index rose 2,908.19 points to finish at 371,521.18, the JSE Main Index popped 2,195.36 points to finish at 335,251.40, with a gain of 2.9 percent for 2024 to date and the JSE Financial Index climbed 0.89 points to finish at 72.02.
The Main Market ended trading with an average PE Ratio of 13.7. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with their financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AS Bryden rallied 50 cents to in closing at $42 after 1,410 stocks were traded, Guardian Holdings lost $2 to end trading with 235 units at $368, Jamaica Broilers dipped 50 cents to $34 with investors trading 2,496 shares. Jamaica Producers popped $1.68 in closing at $25 with an exchange of 5,683 stock units, JMMB Group climbed 39 cents to end at $26.38 with 57,594 shares changing hands, Mayberry Jamaican Equities increased 59 cents to $9.53 with investors transferring 52,767 stock units. NCB Financial rose $2.85 in closing at $67.90 after exchanging 424,334 units,

Scotia Group rallied 50 cents to close at $45.50 with investors trading in 53,020 stocks, Seprod shed $3.50 to end at $82 in an exchange of 213,669 shares. Stanley Motta advanced 50 cents to end at $7, with 11,946 stock units crossing the market, Supreme Ventures rose 50 cents to $25.70 in an exchange of 5,297 units and Sygnus Credit Investments declined $1.21 in closing at $10.52 after 286,438 stock units crossed the market.
In the preference segment, Eppley 7.25% preference share rallied $1 to close at $18 after a transfer of 6,400 shares, Jamaica Public Service 7% fell $2.30 and ended at $47 with 193 stock units crossing the exchange and Productive Business Solutions 10.5% preference share popped $15 to end at $1,090 with a transfer of 300 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

ICTOP 15 Main & Junior Market stocks for 2024

Stocks are set for a major ride higher in 2024 following two years of subpar performance of the Jamaica Stock Exchange. The market did not perform well in 2023, the Main Market fell 8.5 percent and the Junior Market the US dollar market declined by 3.5 percent and 1.2 percent respectively, but technical reading of the Main Market is pointing to a solid rally ahead, with some stocks breaking out of a prolonged period of consolidation.
Bank of Jamaica (BOJ) raised interest rates in 2021 with the overnight rate landing at 7 percent in November 2022 and has remained there since, with BOJ keeping a tight lid on market rates by the use of Certificate of Deposits with rates mostly around 10 percent on average, to tame inflation that peaked close to 12 percent in early 2023.
The stock market has not performed well in that environment. Contrasting that with the US where the Federal Reserve raised rates over two years, with the last increase in July last year. Notwithstanding, the US stock market indices were racing forward and are now at record levels while the JSE Main Market is still below the Covid-19-affected levels but the Junior Market trades at much higher levels than the lows of 2020.
Many investors consider that higher interest rates reduce stock prices, but they are only partially correct. Interest rates affect the valuation of stocks not necessarily the price of stocks. Put another way, higher rates reduce the PE ratios used to value stocks but if profits are rising faster than the increase in rates, stock values will tend to rise as the company is more valuable despite the rate increase. With rising rates the PE ratio mostly used in stock valuation will fall with rising rates and rise when rates are declining.

The Junior Market is presently in a triangular formation that will lead to a big breakout soon.

If profits don’t rise above the level of PE decline then the market will most likely adjust the stock price down. So while interest rates remained stable in 2023 at levels higher than 2021, a total of 31 companies posted gains in the market last year. That is the reason why Scotia Group posted gains from late 2023 into 2024, with some others doing likewise. Other factors to consider are that higher rates may result in higher interest costs for some companies or reduced revenues that could reduce profit but companies with investment funds may enjoy higher profits as they may enjoy increased interest income.
The lack of performance for the Jamaica Stock Exchange last year was not interest rates, but mostly lacklustre profit performance by several companies. What the issue illustrates is the import of careful stock selection with a focus on companies with a good track record of growing profits consistently over several years.
Technical indicators are pointing to a bottoming out of the Main Market that has broken out from a market squeeze, with technical indicators indicating a huge run ahead for the market, see market index chart. At the same time, the Junior Market closed 2023, with a negative undertone that could remain in place for a while until events push it in a new direction. Company profits seem the most likely factor in the medium term.
Part of the decline in the Junior Market in 2023 is due to an overall level of over-exuberance by investors in 2022, pushing the prices of a limited number of Junior Market stocks to unrealistic levels, with sharp correction for some of these in 2023 and helping to drag the market. The situation in the Main Market was somewhat different with a lack of interest from institutional investors until the final quarter of the year which is reflected in a continuous slide in the Main Market Index throughout the year until the end of September, indeed from a two-year high of 461,783 points on the All Jamaica Composite Index in May 2022 until it bottomed at the end of September 2023 at 344,153 points and put on almost 23,000 points to the end of the year. While the Main Market declined for two consecutive years, the Junior Market was experiencing its first yearly decline since 2020.
Inflation moderated during the year within the central bank’s target of 4 to 6 percent on a number of occasions. By the end of November, the year over year inflation rate was just above the bank’s upper limit of 6 percent, with the rate hitting 6.9 percent in December. Certain price adjustments particularly in public transportation impacted inflation negatively towards the latter part of the year, some of these may carry over into 2024. The bank also fears possible wage increases that could be unusually high and place upward pressure on inflation.
For the first three months of 2024, it should be instructive to see where inflation is likely to be and what could become of interest rates during the year. What is clear is that falling market rates in the USA are likely to set the tone ultimately in Jamaica and that should be aided by expectations that the FED will start reducing rates during the second quarter of 2024.
A look at the stock market at this juncture suggests that profits should continue to be positive as can be seen from a compilation of company results for the third quarter of 2023. Data shows that profits for the nine months are up 4 percent and for the quarter up a B 46 percent over similar periods in 2022. A major part of the drag on profits was approximately $11 billion provisions made by NCB Financial for staff redundancies and one-time bonus compensation.
Barring increased interest rates, the Jamaican economy should grow just around two percent in 20224 and that ought to be sufficient to help generate increased demand for goods and services and assist many listed companies to increase profits from existing operations. Expanding companies will see above average performances.
The Junior Market and the Main Market of the Jamaica Stock Exchange are flashing bullish signals that suggest an uptick in the market. This is reflected in projected PE ratios for 2024 for both markets with the projected ratios well below the current levels of valuation for 2023.
The average PE for the JSE Main and Junior Market for 2024 based on that year’s earnings is 10.5 and 9 respectively, compared to the current levels of 14 based on 2023 earnings, at the same time the ICTOP 15 based on 2024 earnings stand at around 5, well below the market average of 14, barring increases in interest rates and disappointing profits, PE ratios should return to the average around 14, resulting in a 180 percent jump in values for the IC TOP15 stocks during 2024 at the minimum, and more if the country’s central bank lowers rates during 2024, with a 50 percent rise in the overall market.
Data for the market in 2023 showed that companies with outstanding profit growth found favour with investors who bid the prices of those stocks higher in most cases. Stocks of companies with profit declining or with moderate profit increases were mostly marked down by the investing public. Examples, are to be found in TransJamaican Highway, Lasco Distributors, Lasco Manufacturers, Dolphin Cove, General Accident, Fontana, Main Event, Knutsford Express and Scotia Group with Wisynco Group to name a few that enjoyed price gains. A number of the performances of these stocks benefited from recovery in the tourism sector directly or indirectly.
For 2024, companies that are expanding may be worth investing in as they are likely to enjoy above-average growth in revenues and profits going forward. Companies in this category include Wisynco, Caribbean Cement, Caribbean Cream, Grace Kennedy, Jamaican Teas, Caribbean Producers, Jetcon, Fontana, Express Catering, Stationery and Office Supplies, Edufocal, Transjamaican Highway, Stanley Motta, and Tropical Battery.

Trading drops on JSE Main Market

Trading on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded rising 77 percent, but the value plunged 19 percent lower than on Wednesday, with trading in 50 securities down from 58 on Wednesday, with prices of 22 stocks rising, 13 declining and 15 ending unchanged.
The market closed on Thursday with an exchange of 10,666,602 shares trading for $32,927,053 versus 6,035,529 units at $40,658,701 on Wednesday.
Trading averaged 213,332 shares at $658,541 compared with 104,061 units at $701,012 on Wednesday and month to date, an average of 195,160 units at $893,191 compared with 192,005 units at $933,929 on the previous day and January that closed with an average of 265,804 units at $2,438,118.
JMMB 9.5% preference share was the leading trade with 6.95 million units for 65.2 percent of total volume followed by Wigton Windfarm with 1.25 million stock units for 11.7 percent of the day’s trade and Transjamaican Highway with 922,977 units for 8.7 percent market share.
The All Jamaican Composite Index declined 1,943.63 points to culminate at 368,612.99, the JSE Main Index shed 1,377.96 points to end at 333,056.04 and the JSE Financial Index declined 0.46 points to close at 71.13.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement rallied 60 cents to end at $53.80 in switching ownership of 4,459 shares, Caribbean Producers rose 47 cents in closing at $9.28 with traders dealing in 33,588 stocks, First Rock Real Estate sank 48 cents to $8.50, with 3,000 shares crossing the market. GraceKennedy dropped 50 cents to close at $75.50 in trading 28,466 stock units, Guardian Holdings gained $10 and ended at $370 with 11 shares clearing the market, Jamaica Broilers popped 50 cents to $34.50 with investors dealing in 16,211 units. Jamaica Producers fell $2.68 and ended at $23.32 in an exchange of 6,281 stocks, JMMB Group increased 99 cents to end at $25.99 with investors trading 44,105 stock units, Kingston Properties declined 51 cents in closing at $7.02 with 18,013 shares crossing the market. Massy Holdings climbed 99 cents to close at $98.99 after investors ended trading 283 stock units, NCB Financial shed $1.95 to close at $65.05 with investors trading 81,190 shares, Proven Investments advanced 50 cents  to $23 after an exchange of 930 stock units. Seprod lost 50 cents and ended at $85.50 with investors swapping 34,417 shares, Stanley Motta rose 40 cents to end at $6.50 with a transfer of 2,371 stock units, Supreme Ventures dipped 49 cents to close at $25.20 after an exchange of 526 stocks and Sygnus Credit Investments climbed 93 cents to $11.73, with 6,591 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated

Trading drops on JSE Main Market

Trading on the Jamaica Stock Exchange Main Market ended on Wednesday, with a 61 percent decline in the volume of stocks that changed hands, with a value 14 percent lower than on Tuesday, following activity in 58 securities compared with 57 on Tuesday, with prices of 18 stocks rising, 26 declining and 14 ending unchanged.
The market closed on Wednesday with 6,035,529 shares trading in exchange for $40,658,701 down from 15,570,107 units at $47,265,851 on Tuesday.
Trading averaged 104,061 shares at $701,012 compared to 273,160 units at $829,225 on Tuesday and for the month to date, an average of 192,005 units at $933,929, in comparison with 214,182 stock units at $992,664 on the previous day and January that closed with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 1.95 million shares for 32.3 percent of total volume followed by Transjamaican Highway with 1.44 million stock units for 23.8 percent of the day’s trade and Supreme Ventures with 519,186 units for 8.6 percent market share.
The All Jamaican Composite Index sank 2,284.76 points to finish at 370,556.62, the JSE Main Index rose 137.97 points to end trading at 334,434.00 and the JSE Financial Index dipped 0.45 points to close trading at 71.59.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 15 stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of the market, Eppley increased $4.75 and ended at $38.50 in trading 79 stock units, First Rock Real Estate popped 48 cents to $8.98, with 25 shares crossing the market, GraceKennedy gained 50 cents to end at $76 with investors swapping 44,453 stock units. Guardian Holdings fell $9 in closing at $360 in an exchange of 250 units, Jamaica Producers sank 85 cents to close at $26 with investors dealing in 11,087 stocks, JMMB Group rose $1 to $25 after a transfer of 24,605 units. Margaritaville declined $2.61 to end at $14.86 as investors exchanged 20 shares, Massy Holdings advanced $5 in closing at $98 with an exchange of 1,631 stock units, Mayberry Group shed 55 cents to close at $7.50 in an exchange of 1,083 shares. Mayberry Jamaican Equities dropped 49 cents and ended at $8.81 with traders dealing in 50 stocks, MPC Caribbean Clean Energy dropped $13.50 to $76.50, with 107 units crossing the exchange, NCB Financial skidded 99 cents to end at $67after 60,009 stock units changed hands. Pan Jamaica dipped 50 cents in closing at $50 with investors trading 40,360 shares, Proven Investments sank 50 cents to close at $22.50 after 7,991 stocks passed through the market, Sagicor Group dipped $1.97 and ended at $44 with investors transferring 5,364 units. Scotia Group lost $1.58 to close at $45 with 26,902 stock units clearing the market, Seprod rallied $1 in closing at $87 while exchanging 3,863 shares, Stanley Motta dropped 90 cents to end at $6.10 with a transfer of 1,730 stocks. Supreme Ventures climbed 69 cents and ended at $25.69 after exchanging 519,186 units and Sygnus Real Estate Finance shed 89 cents to close at $10.60 in switching ownership of 7,084 stock units,
In the preference segment, Eppley 7.50% preference share increased 33 cents to $6.63 after investors ended trading 2,580 shares and Sygnus Credit Investments C10.5% fell $1 to close at $106 after an exchange of 500 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Bullish trend continue for JSE Main Market

Trading on the Jamaica Stock Exchange Main Market ended on Tuesday, with the market rising 2.6 percent based on the JSE Main Index continuing a 7.4 percent rally since mid-September last year as investors pumped 27 percent fewer dollars in buying 37 percent more stocks traded than they did on Monday, with trading taking place in 57 securities compared with 60 on Monday, with prices of 25 stocks rising, 22 declining and 10 ending unchanged as Scotia Group closed at a 52 weeks’ high.
The market closed with an exchange of 15,570,107 shares for $47,265,851 compared with 11,358,844 units at $65,164,581 on Monday.
Trading averaged 273,160 shares at $829,225 compared to 189,314 units at $1,086,076 on Monday and month to date, an average of 214,182 units at $992,664, compared with 194,750 units at $1,046,514 previously traded and January with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 5.62 million shares for 36.1 percent of the overall volume followed by Transjamaican Highway with 2.93 million units for 18.8 percent of the day’s trade, Sagicor Select Manufacturing & Distribution Fund filled in with 2.45 million units for 15.7 percent market share, Sagicor Select Financial Fund followed with 1.08 million units for 6.9 percent of the day’s trade and QWI Investments ended with 1.02 million units for 6.5 percent of total volume.
The All Jamaican Composite Index rose 3,627.70 points to close at 372,841.38, the JSE Main Index increased 918.50 points to 334,296.03 and the JSE Financial Index rose 1.14 points to 72.04.
The Main Market ended trading with an average PE Ratio of 13.7. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement shed 80 cents and ended at $53, with 12,160 shares changing hands, Eppley rallied 75 cents to $33.75 after a transfer of 293 units, Eppley Caribbean Property Fund popped $1 to end at $40 with traders dealing in 900 shares. First Rock Real Estate fell 50 cents in closing at $8.50 after an exchange of 30,243 stock units, GraceKennedy dipped $1.52 to close at $75.50 and closed with an exchange of 35,985 shares, Guardian Holdings climbed $9 to $369 with investors dealing in just one stock unit. Jamaica Broilers sank 38 cents to close at $34.12 in switching ownership of 32,966 units, Jamaica Producers increased 60 cents to end at $26.85 with investors trading 36,823 stock units, Massy Holdings declined $5.49 to close at $93, with 488 shares clearing the market. Mayberry Jamaican Equities rose 49 cents and ended at $9.30 in trading 1,790 stock units, NCB Financial advanced 99 cents to $67.99 while exchanging 60,232 stocks, Pan Jamaica gained 50 cents in closing at $50.50 with investors transferring 14,052 stock units. Sagicor Group rose $2.07 to end at $45.97 in an exchange of 32,348 shares, Salada Foods lost 30 cents and ended at $3.45 with investors swapping 23,691 stock units, Scotia Group climbed 68 cents to close  at a 52 weeks’ high of $46.58 with a transfer of 32,385 stocks. Seprod rallied 87 cents to $86 as investors exchanged 44,814 units and Wisynco Group popped 35 cents and ended at $22.35, with 24,551 stocks crossing the market.
In the preference segment, Jamaica Public Service 7% gained $3.21 to end at $49.30 with an exchange of 562 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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