Trading activity surged on the US dollar market of the Jamaica Stock Exchange on Wednesday, with the number of securities trading jumping over the numbers on Tuesday after trading 65 percent more shares than on Tuesday.
Seven securities changed hands, compared to four on Tuesday and ended with three stocks rising, three declining and one remaining unchanged.
JSE USD Equity Index gained 0.36 points to 199.54. The average PE Ratio ends at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 246,502 shares, for US$25,213 compared to 149,703 units at US$25,014 on Tuesday.
Trading averaged 35,215 units at US$3,602, down from 37,426 shares at US$6,253 on Tuesday. Trading averaged 79,279 units for the month to date at US$10,785 in contrast to 88,351 units at US$12,264 on the prior trading day. By comparison, January averaged 121,154 units at US$15,408.
Investor’s Choice bid-offer indicator shows no stock ending with bids higher than the last selling prices and two with lower offers.
At the close of trading, First Rock Capital lost 0.78 of a cent to end at 8 US cents trading 148,485 stocks, Margaritaville closed at 11 US cents with an exchange of 14,000 stock units, MPC Caribbean Clean Energy gained 1 cent in closing at US$1.15, with 197 stock units crossing the market. Proven Investments declined 0.95 of a cent in closing at 26 US cents with 35,261 shares changing hands, Sterling Investments rose 0.2 of a cent to end at 2.3 US cents in exchanging 1,170 units, Sygnus Credit Investments increased 0.87 of a cent to close at 15.91 US cents, with 10,649 stock units crossing the market and Transjamaican Highway shed 0.01 of a cent in closing at 0.97 US cents in trading 36,740 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with the prices of one stock rising, one declining and two remaining unchanged.
At the close of the market, First Rock Capital remained at 8.78 US cents while exchanging 140 shares. Proven Investments lost 0.04 of a cent at 26.95 US cents, with an exchange of 92,650 stock units, Sygnus Credit Investments closed at 15.04 US cents trading 2,000 shares and Transjamaican Highway inched 0.01 of a cent higher in closing at 0.98 of a US cent, with 54,913 shares changing hands.
Similar to trading on Friday, the market ended with five securities changing hands and with three rising, none declining and two closing unchanged.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and one with a lower offer.
The market index closed just under 2,800 points, on Friday with a 5.8 percent gain for the year to date.
Lasco Distributors earnings were also adjusted down, with the release of the nine months results showing earnings per share of 21 cents and 7 cents for the December quarter, putting the full-year numbers at 30 cents per share.
The current TOP 10 report is based on earnings for 2020/21 as there are substantial gains ahead, for many stocks in the listings.
Main Market TOP 10 stocks trade at a PE of 9.1 or 48 percent of the PE of that market.
Trading ended with five securities changing hands, up from three on Thursday, ending with three stocks rising, one declining and one remaining unchanged.
Investor’s Choice bid-offer indicator shows two stocks with bids higher than their last selling prices and one with a lower offer.
By comparison, January ended with an average of 121,154 units for US$15,408.
The evidence can be seen in an exchange rate that was US$1.10 to the Jamaican dollar to nearly $150 to one US dollar now. Interest rates rose from 5.5 percent in 1970 for governments Local Registered Stock, by the dark years in 1990s rates on government paper were as high as 52 percent in 1994. The average 
Three companies went to the market to raise funds in January and all were successful with the latest 
Trading ended with six securities changing hands at the close, compared to five on Monday and ended with two stocks rising, two declining and two remaining unchanged.
At the close of the market, First Rock Capital lost 0.02 cents to close at 8.77 US cents exchanging 57 stock units, MPC Caribbean Clean Energy settled at US$1.14 after trading 718 shares, Proven Investments shed 0.02 cents in ending at 26.95 US cents, with 57,127 units crossing the market. Sygnus Credit Investments rose 0.97 of a cent to end at 16 US cents after exchanging 101 stocks and Transjamaican Highway increased by 0.09 of a cent to end at 0.99 of a US cent crossing the market 485,869 shares.
Trading ended with five securities changing hands at the close, compared to four on Friday and ended with one rising, three declining and one remaining unchanged.
Proven Investments lost 0.02 of a cent to end at 26.97 US cents in trading 95,772 shares, Sygnus Credit Investments shares denominated in Jamaican dollars ended at 12.8 US cents, with 961 units changing hands. Sygnus Credit Investments US dollar-denominated stock climbed 0.03 of a cent to end at 15.03 US cents with an exchange of 11,617 stock units and Transjamaican Highway declined 0.06 of a cent to close at 0.9 US cents, with 59,062 stock units crossing the market.
While the Junior Market had a new addition, the Main Market TOP10 continued with the same stocks as the week before but Grace Kennedy price rose from $68 to $73.45 with the stock moving from 5th spot to 7th.
In this regard, based on 2020 release of results, interim financials are expected this week, from Access Financial, Barita Investments, Iron Rock Insurance, NCB Financial, the Lasco group of companies and Jamaican Teas.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 18.9 and the Junior Market 14.8, based on ICInsider.com’s projected 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 7.8 at just 53 percent of the market average. The Main Market TOP 10 stocks trade at a PE of 9.1 or 48 percent of the PE of that market.
IC TOP10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.