The US dollar market of the Jamaica Stock Exchange closed trading on Thursday, with the market declining after 54 percent fewer shares changed hands than on Wednesday, resulting in more stocks falling than rising.
At the close of the market, trading ended with five securities changing hands compared to two on Wednesday and ended with the prices of one stock rising, two declining and two remaining unchanged.
The JSE USD Equities Index declined by 0.91 points to settle at 192.94, with the average PE Ratio ending at 12.9 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 20,101 shares, accounting for US$32,755 compared to 37,232 units at US$13,216 on Wednesday.
The average trade for the day amounted to 4,020 units changing hands at US$6,551, in contrast to 18,616 shares at US$6,608 on Wednesday. Trading ended, with an average of 83,384 units for the month to date at US$12,949 in comparison to 99,335 units at US$14,302. By contrast, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, 
the Investor’s Choice bid-offer indicator reading for the market shows two stocks ended with bids higher than their last selling prices and none with lower offers.
At the close of the market, First Rock Capital Investment lost 0.01 of a cent and closed at 8.99 US cents, with 175 units passing through the market. Sygnus Credit Investments gained half a US cent to end at 13.5 US cents, with 376 stock units changing hands and Transjamaican Highway lost 0.02 of a cent and ended at 0.88 of a US cent, trading of 2,150 stock units.
In the preference segment of the market, JMMB Group 5.75% settled at US$2.01, trading 15,000 stocks and JMMB Group 6% settled at US$1.05 and cleared the market with 2,400 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of the market, trading ended with two securities changing hands compared to three on Tuesday and ended with the price of one declining and one remaining unchanged. The JSE USD Equities Index lost 0.68 points to settle at 193.85, with the average PE Ratio ending at 12.9 based on IC Insider.com forecast of 2020-21 earnings. The market closed with an exchange of 37,232 shares, for US$13,216 compared to 9,507 units at US$2,513 on Tuesday. At the close, the average trade was 18,616 units at US$6,608, in contrast to an average of 3,169 shares at US$838 on Tuesday. Trading ended, with an average of 94,722 units for the month to date at US$13,863 in contrast to 99,335 units at US$14,302. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of the market, similar to Monday, trading ended with just three securities changing hands and ended with the prices of one stock rising, one declining and one remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows two stocks ending with bids higher than their last selling prices and two with lower offers.
Retail loan grew 5 percent year over year, driven by strong mortgage growth of 16 percent. Total revenues, excluding expected credit losses for the nine months, ended July at $32.1 billion, a reduction of $1.7 billion or 5.1 percent, compared to 2019. For the July 2020 quarter, gross revenues fell from $12.4 billion to $11 billion, with non-interest income contributing $1.1 billion to the decline. Administrative and other expenses were essentially flat at $5.8 billion year over year, a $2 billion increase in provision for expected loan loss helped push profit down in the quarter, to $1.55 billion from $4.2 billion in 2019. Notably, while loans amounting to $221 billion at the end of July grew 12 percent year over year, loans declined modestly from $223 billion at the end of April, the result of the increased credit loss provisioning.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results, from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level, an indication of the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15.1 and the Junior Market 10.9, based on IC Insider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere 6 at just 55 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.2 or 54 percent of the PE of the overall market.
The average projected gain for the Junior Market IC TOP 10 stocks is 279 percent, and 153 percent for the JSE Main Market, based on 2020-21 earnings, an indication of potentially, greater gains in the Junior Market than in the Main Market.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close of the market, Proven Investments remained at 24.8 US cents, with investors trading 309 shares. Sygnus Credit Investments declined by 1.9 US cents in closing at 13 US cents with investors switching ownership of 297,407 stocks and Transjamaican Highway closed at 0.81 of a US cent in clearing the market with 250,001 stock units.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ending with bids higher than its last selling prices and one with lower offers.
Stationery and Office Supplies and Jetcon Corporation dropped out of the Junior Market list, the former earning, was revised down for 2020, with the loss incurred in the June quarter while Jetcon price inched up, to be squeezed out of the top stocks.
The targeted average PE ratio of the market is 20 based on the profit of companies reporting full year’s results, from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level, an indication of the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15 and the Junior Market 10.8, based on IC Insider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. 
The PE ratio for the Junior Market Top 10 stocks average a mere 6 at just 56 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.1 or 54 percent of the PE of the overall market.
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 will result in movements of the selection in and out of the lists for most weeks. Revisions to earnings per share are ongoing, based on receipt of new information.
At the close of the market, trading ended with four securities changing hands similar to Wednesday and ended with the price of two stocks rising, one declining and one remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ending with bids higher than their last selling prices and one with lower offers.
two stocks ending with bids higher than their last selling prices and one with lower offers.