NCB Financial traded to an intraday low for the day of $91.01 as demand for the stock melted away made worse by the stock hitting 52 weeks’ lows in the Trinidad and Tobago market, but it closed at $115, with few bids that are weak. Elsewhere market activity ended, with the volume of shares trading declining moderately but the value dropped 44 percent lower than on Wednesday on the Jamaica Stock Exchange Main Market as declining stocks exceeded those rising leaving the market falling at the close on Thursday.
NCB Financial hits a new low on Thursday.
The All Jamaican Composite Index fell 4,466.69 points to settle at 427,939.81, JSE Main Index declined 2,641.22 points to close at 382,730.79 and the JSE Financial Index fell 0.80 points to settle at 92.18.
Trading ended with 54 securities compared to 55 on Wednesday, as 20 rose, 24 fell and 10 ended 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 based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 11,327,830 shares traded at $87,135,931 versus 11,622,326 units at $156,171,406 on Wednesday. Wigton Windfarm led trading with 6.08 million shares accounting for 53.6 percent of total volume followed by Transjamaican Highway, 1.30 million units for 11.5 percent of the day’s trade and Sagicor Select Financial Fund, 1.03 million units with 9.1 percent market share.
Trading averages 209,775 units at $1,613,628, compared to 211,315 shares at $2,839,480 on Wednesday and month to date, an average of 408,901 units at $6,551,408, compared to 426,733 units at $6,993,598 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and eight with lower offers.
At the close, Barita Investments shed 87 cents to close at $89.10 with an exchange of 33,219 shares, Berger Paints fell 30 cents to close at $12.10 trading 102 stock units, Eppley rallied 60 cents in closing at $40.50, with 199 stocks changing hands. GraceKennedy dropped $1 to end at $101.50, with 366,663 units crossing the market, Guardian Holdings rose $27 in ending at $550 with the swapping of 1,820 units, Jamaica Stock Exchange lost 96 cents to end at $17.03 after 4,495 stock units were traded. JMMB Group popped $1.50 to close at $41.50, with 258,062 stocks crossing the market, Kingston Properties increased $1 in ending at $9.50 while exchanging 35 shares, Kingston Wharves declined $1.51 in closing at $39.49, with 2,495 units clearing the market. Margaritaville advanced $2.20 to $24.20 with 5,300 stock units changing hands, Massy Holdings gained $6.19 in ending at $113.99 after exchanging 26,384 stocks, Mayberry Investments shed 49 cents to close at $6.02 after trading 906 shares. 
Mayberry Jamaican Equities climbed 84 cents to end at $7.90 in switching ownership of 2,535 shares, MPC Caribbean Clean Energy popped $10.50 in closing at $115.50 in an exchange of 20 stock units, Sagicor Real Estate Fund rose $1.96 to $8.19 in exchanging 36,732 stocks. Supreme Ventures dropped 35 cents in closing at $17.25, with 6,098 units crossing the exchange and Sygnus Real Estate Finance fell 43 cents to end at $16.50 in trading 3,603 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The number of securities trading fell from eight on Wednesday to six at the close of trading and ended with none rising, four declining and two closing unchanged.
At the close, First Rock Capital USD share fell 0.99 of a cent to close at 7.5 US cents with 1,161 shares clearing the market, Margaritaville remained at 18 US cents in an exchange of 1,306 units, Proven Investments declined 0.42 of a cent in closing at 23.4 US cents after trading 178,456 stock units. Sygnus Credit Investments USD share dropped 0.45 of a cent to 12.5 US cents in trading 1,463 stocks and Transjamaican Highway finished at 0.9 US cents with the swapping of 28,700 units.
A total of eight securities traded, compared to two on Tuesday with three rising, three declining and two ending unchanged.
Sygnus Credit Investments USD share remained at 12.95 US cents while exchanging 10,229 units, Sygnus Real Estate Finance USD share dropped 0.01 of a cent after ending at 15.99 US cents with the swapping of 175 shares and Transjamaican Highway rose 0.02 of a cent to 0.9 US cents in trading 173,656 units.
The All Jamaican Composite Index fell 4,236.02 points to 434,185.95, JSE Main Index dropped 3,408.49 points to close at 386,530.80 and the JSE Financial Index slipped 1.03 points to 94.30.
Trading averages 256,214 units at $3,981,797, compared to 514,346 shares at $5,238,491 on Monday and month to date, an average of 448,354 units at $7,410,526, down from 467,221 units at $7,747,214 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
NCB Financial rallied $2.25 to $119 while exchanging 34,372 stock units, PanJam Investment declined 50 cents to end at $68 in exchanging 45,596 units, Proven Investments fell $1.10 in closing at $35 after 14,131 stocks changed hands. Sagicor Group lost $3 after ending at $58 in an exchange of 605,621 stocks, Seprod climbed $2.10 to close at $57.50, with 7,462 units crossing the market, Victoria Mutual Investments fell 30 cents to $6.45, with 10,788 shares crossing the exchange and Wisynco Group shed 42 cents to close at $19.10 with the swapping of 93,865 stock units.
A total of eight securities traded, compared to eight on Friday with two rising, two declining and four ending unchanged.
Margaritaville ended unchanged at 17 US cents while exchanging 6,451 stock units, MPC Caribbean Clean Energy finished at US$1.26 with an exchange of just two units. Proven Investments popped 0.18 of a cent to end at 24 US cents in trading 172,777 stocks, Sterling Investments remained at 2 US cents after an exchange of 44,579 stock units, Sygnus Credit Investments USD share declined 0.02 of one cent to close at 12.95 US cents, with 241,970 units clearing the market. Transjamaican Highway shed 0.03 of a cent to end at 0.85 of a US cent after trading 229,159 stock units.
Caribbean Assurance Brokers come back in the Junior Market list, while Sterling Investments makes it back to the Main Market listing at the expense of TransJamacian Highway after just one week, but investors should keep an eye for this one.
During the past week, the Junior Market TOP10 listed Access Financial, Lasco Financial and Iron Rock Insurance gained 6 percent each while Medical Disposables fell 9 percent and Tropical Battery slipped 5 percent. In the Main Market, the primary movers are Guardian Holdings with a 4 percent gain, while JMMB Group fell 7 percent and Proven Investments declined by 5 percent.
The potential gains for Main Market stocks moved from 124 percent last week to this weeks’ 127 percent, with the top three being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 168 and 193 percent versus 161 and 193 percent last week.
The average PE for the JSE Main Market is 21 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to the end of March this year. The Main Market TOP 10 average PE is 9 representing a 43 percent discount to the market, well below the potential of 20. Around 15 stocks or a thirty 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 current year’s earnings. The depressed PE of the main market may be indicating that bigger investors are reluctant to be aggressive in buying into the market currently with inflation, rising interest rates and war populating the headlines.
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.
A total of eight securities traded, compared to seven on Thursday with four rising, two declining and two ending unchanged.
Margaritaville advanced 1.1 cents to end at 17 US cents while exchanging 818 stock units, Productive Business Solutions popped 1 cent in closing at US$1.02, with 748 stocks crossing the market. Proven Investments dropped 0.18 of a cent to 23.82 US cents in trading 27 units, Sygnus Credit Investments USD share lost 0.02 of a cent to close at 12.97 US cents, with 31,193 shares clearing the market, Sygnus Real Estate Finance USD share finished at 16 US cents with an exchange of 58 units and Transjamaican Highway remained at 0.88 of a US cent and closed with 2,273 stock units changing hands.
A total of seven securities traded, the same as Wednesday with two rising, two declining and three ending unchanged.
At the close, First Rock Capital USD share dropped 0.28 of a cent to 7.95 US cents, with 156,069 shares changing hands, Margaritaville fell 0.1 of a cent to 15.9 US cents with 3,171 stock units clearing the market, Proven Investments inched 0.01 of a cent higher to close at 24 US cents after trading 143,283 units Sterling Investments finished at 2 US cents after exchanging 8,893 stocks, Sygnus Credit Investments USD share ended at 12.99 US cents in an exchange of 12,827 stocks, Sygnus Real Estate Finance USD share rallied 0.11 of a cent to end at 16 US cents after 103,497 units crossed the market and Transjamaican Highway remained at 0.88 US cents after 102,421 shares changed hands.
At the close, First Rock Capital USD share rose 0.53 of a cent to 8.23 US cents trading just one share, Margaritaville ended unchanged at 16 US cents in exchanging 8,085 stock units, Proven Investments climbed 0.97 of one cent to end at 23.99 US cents while trading 15,615 stocks. Sterling Investments lost 0.04 of a cent after ending at 2 US cents with the swapping of 41,285 units, Sygnus Credit Investments USD share finished at 12.99 US cents with 46,608 stocks changing hands, Sygnus Real Estate Finance USD share remained at 15.89 US cents after trading 1,055 shares and Transjamaican Highway declined 0.01 of a cent to end at 0.88 US cents in an exchange of 46,167 units.
At the close, First Rock Capital USD share fell 0.3 of a cent to close at 7.7 US cents after trading 273,235 shares, Margaritaville dropped 1.6 cents to end at 16 US cents 1,605 stock units changing hands, Proven Investments declined 0.98 of a cent in closing at 23.02 US cents after exchanging 3,062 stocks. Sterling Investments shed 0.01 of a cent in ending at 2.04 US cents and trading 240,208 units, Sygnus Credit Investments USD share remained at 12.99 US cents with 4,184 units changing hands, Sygnus Real Estate Finance USD share lost 0.01 of a cent in closing at 15.89 US cents while exchanging 80 stock units and Transjamaican Highway gained 0.07 of one cent after ending at 0.89 US cents and trading 620,828 shares.