Blue chip, NCB Financial led trading with 42 percent of the day’s total volume on the Main Market of the Jamaica Stock Exchange on Friday, and helped to push the value of trades spiking 353 percent and the volume of stocks up by 265 percent compared to Thursday. Trading closed with 55 securities changing hands, down from 56 on Thursday, with prices of 21 rising, 15 declining and 19 ending unchanged.
The market closed with 42,067,995 shares trading worth $816,837,694 after surging from just 11,535,147 stock units at $180,404,058 on Thursday.
Trading averaged 764,873 shares at $14,851,594 after soaring from 205,985 stock units at $3,221,501 on Thursday and month to date, an average of 242,139 stock units at $2,383,965, after increasing from 206,335 shares at $1,530,018 on the previous day and November with an average of 279,326 stock units at $1,890,583.
NCB Financial led trading with 17.53 million shares with a value of $684 million, for 41.7 percent of total volume followed by Sagicor Select Manufacturing & Distribution Fund ending with 13.10 million stocks for 31.1 percent of the day’s trade, Transjamaican Highway closed with 3.71 million stocks for 8.8 percent of the volume traded, Carreras ended with 2.21 million units for 5.2 percent of the overall volume exchanged and Supreme Ventures with 2.14 million units for 5.1 percent of market share.
The All Jamaican Composite Index skidded 1,008.60 points to 360,613.39, the JSE Main Index shed 1,306.41 points to 313,492.87 and the JSE Financial Index slipped 0.41 points to close at 63.65. At the close, the Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one at a lower offer.
The Main Market closed trading with an average PE Ratio of 13.1. The JSE Main and the USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with financial years ending around August 2026.
At the close of the market, AS Bryden dropped $1.93 to $28.07 in trading 2,286 shares, Barita Investments fell $1.50 to $70 after an exchange of 3,610 stocks, Caribbean Cement shed 48 cents to finish at $114.50 with investors trading 5,992 units. Eppley Caribbean Property Fund increased $3.10 and ended at $47.50 with traders switching ownership of 608 shares, Guardian Holdings climbed $10 to end at $345 as investors exchanged 17,396 stock units, Jamaica Producers rose 90 cents to close at $23 with a transfer of 842 shares. Kingston Wharves gained $1.30 to $33.30 with investors dealing in 382,923 stock units, 
Mayberry Jamaican Equities popped 79 cents to finish at $8.79 with 1,100 units crossing the exchange, NCB Financial declined $1 and ended at $43 with investors swapping 17,533,530 shares, valued at $684 million. Proven Investments rallied $1.22 to close at $15.07 in an exchange of 562 shares, Sagicor Real Estate Fund rose $1.09 to $7.99 with 803 stocks crossing the market, Scotia Group sank $3.59 to end at $51.40 in an exchange of 15,889 stocks. Seprod dipped $1.89 in closing at $86.99 with investors trading 1,453 units, Supreme Ventures rose 55 cents to $16 after an exchange of 2,144,003 stocks and Sygnus Credit Investments sank 59 cents to end at $11.40, with 135,835 units clearing the market.
In the preference segment, Sygnus Credit Investments 10% climbed $1 to finish at $105 with trading in 4,027 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Market activity concluded with an exchange of 11,535,147 shares, worth $180,404,058, after soaring from 7,408,031 shares, valued at $54,644,759 on Wednesday.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and the USD Market PE ratios are based on last traded prices and earnings forecasts compiled by ICInsider.com for companies with their financial year ending around August 2026.
NCB Financial rallied $2 to end at $44 with investors trading 46,634 stocks, 138 Student Living declined 43 cents to $3.36 after an exchange of 104,289 units. Sagicor Group rose 55 cents and ended at $40 with 22,180 shares crossing the market, Seprod climbed $7.88 to close at $88.88 with traders dealing in 23,754 stocks, Supreme Ventures fell 55 cents to finish at $15.45 after a transfer of 157,567 units and Wisynco Group slipped 40 cents to $19.50 with investors swapping 133,419 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading closed with 7,936,401 shares worth $47,529,234 after plunging from 24,498,867 stocks at $160,004,590 on Monday.
The Main Market ended trading with an average PE Ratio of 13. The JSE Main and the USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with their fiscal year ending around August 2026.
Proven Investments shed 90 cents to end at $14.10 with investors dealing in 6,043 units. Sagicor Group advanced 80 cents and ended at $40.05 in an exchange of 62,432 stocks, Sagicor Real Estate Fund dropped $1.14 to close at $6.86 with 2,677 units crossing the market, Scotia Group rallied 62 cents to finish at $53.12 after a transfer of 49,504 shares and Seprod sank $5.68 and ended at $78.50 with traders dealing in 4,243 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated
The market closed with 24,498,867 shares trading for $160,004,590, in climbing from 17,049,464 stock units at $72,943,349 on Friday.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and the USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2026.
Mayberry Jamaican Equities increased $1.32 and ended at $8.80 with a transfer of 3,912 units. Proven Investments advanced 90 cents to close at $15 after an exchange of 1,668 shares, Sagicor Real Estate Fund lost 42 cents to end at $8 with 2,531 units passing through the market and Scotia Group shed 62 cents in closing at $52.50 with 56,522 stocks switching ownership.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of trading, the JSE Combined Market Index popped 178.57 points to 335,378.11, the All Jamaican Composite Index gained 2,400.43 points to wrap-up trading at 359,385.57, the JSE Main Index rose 1,467.74 points to finish at 322,832.91. The Junior Market Index rallied 11.23 points to finish at 3,723.72 and the JSE USD Market Index increased 5.74 points to end at 243.50.
At the close of the market, some of the major Main Market stocks that rose are First Rock Real Estate climbed $1 to $8, Scotia Group advanced $2.47 to end at $41.50, Mayberry Group rose 86 cents to close at $8.41 and Stanley Motta popped 88 cents in closing at $6.15.
ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The Main Market ICTOP10 ended with, Palace Amusement gaining 15 percent to $1.40, followed by JMMB Group up 4 percent to $26 and Margaritaville 3 percent to $17.58, while 138 Student Living and Key Insurance declined 6 percent each two $3.89 and $2.25 respectively.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 108, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 26 for the top half and 19 excluding the stocks with overweight values.
The Main Market ICTOP10 ended with, General Accident declined 11 percent to $4.50. Buying interest picked up during the week for Scotia Group pushing the stock to several 52 weeks’ highs and a rose of 7 percent for the week to a 52 weeks’ closing high of $38.40. This stock has much more juice left that should take it into the $40 range by early 2024. Caribbean Producers rallied 6 percent to $9, while Margaritaville also rose 6 percent and closed at $17 and Pulse Investments rose 5 percent to $2.09 and Key Insurance slipped 4 percent to $2.40.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.1. The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2024, based on 2023 forecasted earnings and now provides better values than the Junior Market with the potential to gain 195 percent over the same time frame.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
For the half year, profit jumped 76 percent to $234 million as loan granted borrowers rose almost $600 million to $5.36 billion from $4.76 billion in September 2022 and the same amount since March this year. The company had more than $760 million available to lend plus cash flows from profit that should pushed lending up around 25 percent year over year and helped to swell profits for the year substantially above the six months levels.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on full year’s earnings.
There were no new additions to the Main Market IC TOP 10, however, the Junior Market, had 3 new additions with Express Catering coming in as well as Caribbean Flavours and Lasco Distributors, replacing Dolphin Cove enjoyed b appreciation during the week, Everything Fresh that also dropped out following downward adjustment to earnings, after the company released third quarter results with weak profit performance although revenues in the quarter rose nicely over the similar period in 2022 and Caribbean Assurance with management advising of a surprising 40 percent cut in “the International Comprehensive Health Insurance Programme’s renewal commission rate, with a corresponding 40 percent increase in its new business rate, with the expressed intention of incentivising the production and consistent growth of new business.” Unfortunately, Management gave no timeline when revenues will return to traditional levels.
The PE of the Junior Market TOP10 sits at 6.9, just over half of the market, with an average of 13.1. There are 14 stocks, or 29 percent of the market, with PEs from 15 to 46, averaging 21 that are well above the market’s average of 13. The top half of the market has an average PE of 18, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 260 percent on or around May 2024.
Price movements in the market resulted in two new ICTOP10 listings for the Junior Market and one for the Main Market. In the Junior Market, Dolphin Cove rose 6 percent to $16.50 and AMG Packaging rose 4 percent to $2.44 after trading at a 52 weeks’ low of $1.95 during the week. Paramount Trading dropped 12 percent to $1.48, followed by Everything Fresh shedding 11 percent to $1.56, Iron Rock Insurance fell 9 percent to $2 and Caribbean Assurance Brokers declined 8 percent to end at $2.85.
Importantly selling in the stock has been drastically reduced with just 19 offers up to $15.90 amounting to less than 200,000 shares and 19 bids above $4, with the highest bid amounting to more than the total stocks being offered. Earnings per share for Lasco Financial were reduced to 15 cents for the year and holds the 31st spot on the list.
The PE of the Junior Market TOP10 sits at 5.7, just over half of the market, with an average of 11.9. There are 11 stocks, or 23 percent of the market, with PEs from 15 to 48, averaging 21 that are well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 260 percent on or around May 2024.