Trading activity picked up on the Jamaica Stock Exchange Main Market on Monday, with the volume of stocks traded rising 14 percent and the value surging 367 percent more than on Friday, with trading in 54 securities compared with 52 on Friday and ended with prices of 16 rising, 24 declining and 14 ending unchanged.
A total of 6,685,964 shares were traded on Monday for $92,499,615 up from 5,872,659 units at just $19,826,535 on Friday.
Trading ended with an average of 123,814 shares at $1,712,956 up from 112,936 units at $381,280 on Friday. Trading for the month to date averaged 153,781 units at $1,373,749 compared with 158,823 stock units at $1,316,687 on the previous trading day and down from November, with an average of 275,587 units at $2,488,949.
Transjamaican Highway led trading with 1.58 million shares for 23.6 percent of total volume followed by JMMB Group with 1.13 million units for 16.9 percent of the day’s trade and Wigton Windfarm with 979,356 units for 14.6 percent market share.
At the close of the market, the All Jamaican Composite Index dropped 711.18 points to settle at 346,161.36, the JSE Main Index skidded 1,549.88 points to end the day at 310,649.71 and the JSE Financial Index slipped 0.05 points to wrap-up trading at 67.25.
The Main Market ended trading with an average PE Ratio of 12.8. 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 eight with lower offers.
At the close, Caribbean Cement lost $1.50 to close at $53 after trading 7,536 units, Caribbean Producers declined 47 cents to $8.61 after an exchange of 1,847 stocks, First Rock Real Estate fell 62 cents and ended at $6.85 with 75 shares clearing the market. Jamaica Broilers skidded $1.38 in closing at $33.50 in switching ownership of 12,794 stock units, Jamaica Producers dropped $1 to end at $22 while investors exchanged 634 shares, Key Insurance rose 30 cents in closing at $2.50, with 7,785 units crossing the market. Kingston Properties shed 47 cents to $6.93 as investors exchanged 2,170 stocks, Kingston Wharves dipped $1.49 and ended at $27 with shareholders swapping 1,060 stock units, Massy Holdings fell 50 cents to end at $89.50 after 24,519 shares passed through the market. 
NCB Financial skidded $2 to close at $65 with stakeholders exchanging 27,329 stock units, 138 Student Living lost 25 cents to $3.94, with 1,415 stocks crossing the market, Pan Jamaica gained $4.74 in closing at $49.76 with a transfer of 214 units. Sagicor Group shed $1 to end at $40, with 50,000 shares crossing the exchange, Scotia Group popped $1.70 to close at $34.70 after a transfer of 257,005 stock units, following release of full year results that surged 67 percent to $5.54 per share, with a net profit of $17.22 billion, as the group also reported that a dividend of 40 cents per share will be paid in January. Seprod advanced $1.40 and ended at $72.90 with traders dealing in 2,420 stocks. Stanley Motta climbed 34 cents to $6.03 in an exchange of 1,025 units and Supreme Ventures declined $1.60 in closing at $24.10 with investors transferring 561,862 shares,
In the preference segment, Eppley 7.50% preference share increased 33 cents to end at $6.90 after an exchange of 33 stock units and Jamaica Public Service 7% rallied 50 cents and ended at $40 with investors dealing in 485 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks pelted Junior Market
The Junior Market of the Jamaica Stock Exchange dropped for a third consecutive day, on Monday, after the volume of stocks traded climbed 53 percent and the value slipped a tad lower than Friday following trading in 38 securities compared with 36 on Friday and ended with prices of 14 rising, 18 declining and six closing unchanged.
Investors traded 7,705,493 shares for $11,922,249 compared with 5,022,943 units at $11,992,912 on Friday.
Trading averaged 202,776 shares at $313,743, compared with 139,526 units at $333,136 on Friday with the month to date, averaging 141,459 units at $311,810 compared with 131,791 stock units at $311,505 on the previous trading day down from November with an average of 262,280 units at $587,545.
iCreate led trading with 3.46 million shares for 44.8 percent of total volume followed by Dolla Financial with 1.19 million units for 15.4 percent of the day’s trade and One Great Studio with 907,966 units for 11.8 percent market share.
At the close, the Junior Market Index skidded 31.09 points to end the day at 3,669.67.
The Junior Market ended trading with an average PE Ratio of 13.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and seven with lower offers
At the close, AMG Packaging shed 59 cents to close at $2.30 with investors transferring just 403 stock units, CAC 2000 climbed 60 cents and ended at $4.60, with 11 shares crossing the market, Caribbean Assurance Brokers declined 15 cents in closing at $2.35 while exchanging 300,000 units. Consolidated Bakeries fell 10 cents to end at $1.80 in trading 53,000 stocks, Derrimon Trading increased 8 cents to close at $1.95 after an exchange of 2,190 units, Dolla Financial dipped 10 cents to $2.39, after 1,185,788 stocks passed through the market.
Dolphin Cove lost 82 cents to close at $16.57 in trading 1,569 shares, EduFocal skidded 21 cents to end at $1.71 in an exchange of 829,284 stock units, Express Catering dropped 17 cents in closing at $3.83, with 2,588 shares changing hands. Fontana popped 63 cents and ended at $10.20 in an exchange of 29,895 stocks, iCreate advanced 10 cents to 87 cents with 3,455,685 units clearing the market, Image Plus fell 11 cents and ended at $1.92 in switching ownership of 6,149 stock units. Indies Pharma dipped 18 cents in closing at $2.82 with stakeholders exchanging 10,350 shares, ISP Finance lost 10 cents to end at $29.90 after a transfer of 708 stock units, Jamaican Teas skidded 25 cents to close at $2.30 with shareholders swapping 44,424 units. Lasco Manufacturing rose 35 cents to $4.65 with an exchange of 42,628 stocks, Limners and Bards gained 13 cents in closing at $1.74 with investors dealing in 133,000 shares, 
Mailpac Group rallied 14 cents to close at $2.19 with a transfer of 75 stock units and Main Event increased 10 cents to end at $13.10 after closing with 3,744 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sharp drop in JSE USD Market trades
Trading dropped sharply on the Jamaica Stock Exchange US dollar market on Monday, with a 93 percent fall in the volume of stocks changing hands at 87 percent lower value than on Friday, resulting from trading in just three securities, down from eight on Friday and closed with the price of one rising, two declining and none trading unchanged.
A mere 3,759 shares were traded for just US$430 down from 57,458 units at US$3,210 on Friday.
Trading averaged 1,253 units at US$143, versus 7,182 shares at US$401 on Friday, with a month to date average of 20,276 shares at US$1,688 compared with 21,954 units at US$1,825 on the previous day and well off November with an average of 249,102 units for US$14,204.
The US Denominated Equities Index dropped 6.78 points to close at 223.83.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, First Rock Real Estate USD share declined 0.03 of a cent to 4.37 US cents as investors exchanged 1,887 stocks, Margaritaville increased 0.11 of a cent to end at 11 US cents after a transfer of 1,774 units and Productive Business Solutions fell 10.77 cents in closing at US$1.55, with 98 shares crossing the exchange
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks fall in all JSE Markets on Monday
Trading picked up on the Jamaica Stock Exchange on Monday, but all three markets slipped with the overall trading volume and value rose above Friday’s depressed levels, with Pan Jamaica gaining $4.74, Scotia Group rising $1.70 following release of full year results of $5.54 per share after profit jumped 67 percent for the year and Seprod popped $1.40, but falling Main Market stocks 
overpowered winners, with NCB Financial falling by $2, Supreme Ventures with a drop of $1.60, Caribbean Cement down $1.50, Kingston Wharves fell by $1.49, Jamaica Broilers ended with a loss of $1.38, Sagicor Group closed with a $1.00 fall and Jamaica Producers down $1.
At the close of trading, the JSE Combined Market Index dropped 1,725.71 points to 323,479.11, the All Jamaican Composite Index declined 711.18 points to close at 346,161.36, the JSE Main Index dropped 1,549.88 points to close at 10,649.71. The Junior Market Index dipped 31.09 points to finish at 3,669.67 and the JSE USD Market Index shed 6.78 points to end at 223.83.
Investors traded 14,395,216 shares, in all three markets, up from 10,953,060 units on Friday. The value of stocks traded on the Junior and Main markets amounts to $104.42 million up from $31.8 million on Friday. The JSE USD market closed after a mere 3,759 shares were traded, for just US$430 compared to 57,458 units at US$3,210 on Friday.
In the preference segment, no stocks traded with notable price movements.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 20.9 on 2022-23 earnings and 13.6 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Mixed performance for Trinidad Exchange
Trading ended on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded rising 51 percent with the value falling sharply from that on Friday by 69 percent, resulting from trading in 19securities compared with 16 on Friday and ended with five stocks rising, five declining and nine remaining unchanged.
Investors exchanged 172,277 shares at $1,265,327 versus 113,918 stock units at $4,051,898 on Friday.
An average of 9,067 units were traded at $66,596 compared to 7,120 shares at $253,244 on Friday, with trading month to date averaging 14,484 shares at $157,734 compared to 15,437 units at $173,767 on the previous trading day. The average trade for November amounts to 19,241 shares at $227,402.
The Composite Index increased 0.66 points to close trading at 1,179.27, the All T&T Index rose 4.27 points to 1,777.70, the SME Index remained unchanged at 71.95 and the Cross-Listed Index skidded 0.45 points to settle at 75.42.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s rose 5 cents to $68.50, with 87 stock units changing hands, Angostura Holdings ended at $19.97 with investors dealing in 113 shares, Calypso Macro Investment Fund remained at $22.76 after an exchange of 85 stocks. First Citizens Group gained 25 cents and ended at $49.25 in switching ownership of 100 units, FirstCaribbean International Bank remained at $7 with shareholders swapping 1,000 shares, GraceKennedy dipped 2 cents in closing at $4 in trading 66,213 stock units. Guardian Holdings ended at $18 with 1,080 stocks clearing the market, JMMB Group lost 7 cents to end at a 52 weeks’ low of $1.22 with an exchange of 11,500 units, L.J. Williams B share declined 2 cents and ended at $2.24 after closing with an exchange of one stock unit. Massy Holdings shed 4 cents to close at $4.40 with a transfer of 27,990 shares, National Enterprises ended at $3.55 as investors exchanged 5,539 units, National Flour Mills popped 6 cents to end at $1.78 after a transfer of 100 stock units. 
One Caribbean Media advanced 1 cent in closing at $3.80 after 200 shares crossed the exchange, Prestige Holdings remained at $9.30 with investors transferring 505 stock units, Republic Financial increased 90 cents to close at $122 in an exchange of 419 stock units. Scotiabank ended at $69.93 after 2,462 shares were traded, Trinidad & Tobago NGL ended at $10.50 after an exchange of 48,500 shares, Unilever Caribbean remained at $11.48, with 1,410 units crossing the market and West Indian Tobacco dropped 23 cents to end at $9.28 with stakeholders exchanging 4,973 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Shakeup of ICTOP10
The Main and Junior Markets closed the week lower, resulting in three new entrants into the top 10 listings and some notable price movements, with the two markets without a clear direction, but the Main Market is showing signs of bottoming out with a big breakout not seeming far away.
Some emerging signs of potential moves higher are emerging for some stocks, with a sharp decline in the volume of some select stocks being offered for sale, setting the stage for sharp upward push in prices of some stocks in the coming weeks. Scotia Group is one such, as it approaches the release of full year results and an announcement on dividend, but buying interest is currently low keyed. The stock trades at an extremely low PE of 5.7 times projected 2023 earnings. AMG Packaging trades at 6.5 times 2024 earnings with only 58,816 shares on offer at the close on Friday and so is Jamaica Teas, with offers now generally above $2.53, with buyers mostly at $2.30, Access Financial is yet another, but buying is weak, Caribbean Cement also has limited stocks on offer.
Four Junior Market stocks gained 6 percent and over and two ended with big losses, while the Main Market had two stocks with worthwhile gains and two with moderate losses of 4 and 6 percent.
The Main Market ICTOP10 ended with Palace Amusement rising 15 percent to $1.29, Key Insurance popped 10 percent to $2.20, while Margaritaville declined 6 percent to $16 and Caribbean Producers lost 4 percent to close at $9.08.
The Junior Market ended with Caribbean Cream jumping 19 percent to $3.69, AMG Packaging climbed 12 percent to $2.89 while Jamaica Teas rose 7 percent to $2.55, Iron Rock Insurance jumping 20 percent to $2.65 and Honey Bun rose 6 percent to $6.44. The losers were Iron Rock Insurance down 22 percent to $2.06 and Lasco Distributors with a fall of 12 percent to 3.61.
Honey Bun and Elite Diagnostic dropped out of Junior Market ICTOP10 and are replaced by Tropical Battery and Stationery and Office Supplies. Sygnus Credit Investments drop out of the Main Market TOP10 with Pulse Investments coming in to replace it.
Indications of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 12.8. The Main Market ICTOP10 is projected to gain an average of 287 percent by May 2024, based on 2023 forecasted earnings and now provides better values than the Junior Market.
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 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 20 excluding the stocks with overweight values.
The PE of the Junior Market TOP10 sits at 6.9, over half of the market, with an average of 13.2. There are 16 stocks, or 33 percent of the market, with PEs from 15 to 49, averaging 20 that are well above the market’s average. 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 200 percent on or around May 2024.
Of great significance 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 the full year’s earnings.
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.
IC TOP10 stocks will likely deliver the best returns on or around May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
6 stocks fall on the JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with a 57 percent drop in the volume of stocks changing hands valued 92 percent less than on Thursday, resulting in trading of eight securities compared to three on Thursday with two rising, six declining and no ending unchanged.
A total of 57,458 shares were traded for US$3,210 compared to 134,274 units at US$39,564 on Thursday.
Trading averaged 7,182 units at US$401 compared with 44,758 shares at US$13,188 on Thursday, with a month to date average of 21,954 shares at US$1,825 compared to 26,499 units at US$2,262 on the previous day. November ended with an average of 249,102 units for US$14,204.
The US Denominated Equities Index dipped 0.42 points to lock up trading at 230.61.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share declined 0.04 of a cent in closing at 4.4 US cents after a transfer of 1,000 stocks, Margaritaville fell 0.15 of a cent to 10.89 US cents with 1,000 units crossing the exchange, Proven Investments skidded 1.93 cent and ended at 13.07 US cents with a transfer of 1,000 shares. 
Sterling Investments popped 0.01 of a cent to end at 1.59 US cents after investors ended trading 1,493 stock units, Sygnus Credit Investments lost 0.29 of a cent to close at 8.71 US cents as investors exchanged 1,000 shares and Transjamaican Highway gained 0.04 of a cent to close at 1.72 US cents after trading 51,418 stock units.
In the preference segment, JMMB Group 5.75% dropped 10 cents to end at US$2 with shareholders swapping 450 stocks and Productive Business Solutions 9.25% preference share shed US$1.49 in closing at US$10.01 after 97 units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks beat out Main Market decliners
Rising stocks ran riot over decliners on the Main Market of the Jamaica Stock Exchange ended on Friday, with trading in 52 securities as was the case on Thursday, and ended with gains in 26 in contrast to just 13 declining and 13 ending unchanged after the volume of stocks traded declined 52 percent and the value 86 percent lower than on Thursday
A total of just 5,872,659 shares were exchanged for a mere $19,826,535 down from 12,317,838 units at $140,029,195 on Thursday.
Trading for the day averaged 112,936 shares at $381,280 versus 236,882
units at $2,692,869 on Thursday and month to date, an average of 158,823 units at $1,316,687, compared with 167,693 units at $1,497,509 on the previous day, well down on November that closed with an average of 275,587 units at $2,488,949.
Transjamaican Highway led trading with 2.33 million shares for 39.7 percent of total volume followed by Wigton Windfarm with 1.51 million units for 25.8 percent of the day’s trade and Ciboney Group with 483,576 units for 8.2 percent market share.
The All Jamaican Composite Index jumped 2,477.78 points to close trading at 346,872.54, the JSE Main Index rallied 3,128.14 points to 312,199.59 and the JSE Financial Index popped 0.82 points to close at 67.30.
The Main Market ended trading with an average PE Ratio of 12.8. 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 five with lower offers.
At the close, AS Bryden increased $1.14 to end at $29.40 as investors exchanged 3,253 stocks, Caribbean Cement climbed $2 to $54.50, with 10,653 units changing hands, Eppley Caribbean Property Fund rose 80 cents in closing at $36 with stakeholders exchanging 51 shares. Jamaica Broilers gained 88 cents and ended at $34.88 with a transfer of 12,135 stock units, Jamaica Producers popped 99 cents to close at $23 while exchanging 86 shares, Kingston Properties shed 25 cents to close at $7.40 with traders dealing in 1,827 stock units. Kingston Wharves advanced $1.49 and ended at $28.49, with 853 units crossing the exchange, Massy Holdings rallied 50 cents to $90 with investors swapping 5,781 stocks, 
Mayberry Investments popped 59 cents in closing at $8.10 after an exchange of 16,339 shares. NCB Financial climbed $1.80 to close at $67 after 16,124 units passed through the market, 138 Student Living rose 27 cents to $4.19 with an exchange of 329 stocks, Proven Investments declined $1.18 in closing at $22.30, with 12 stock units clearing the market. Scotia Group lost $1.52 to end at $33 after a transfer of 29,724 shares, Seprod dipped $1.70 to close at $71.50, with 3,418 stock units crossing the market, Stanley Motta fell 35 cents and ended at $5.69 with investors dealing in 1,508 units. Supreme Ventures advanced 98 cents to $25.70 and closed with an exchange of 91,853 stocks and Sygnus Credit Investments gained 59 cents to end at $11.44 with investors transferring 84,858 units.
In the preference segment, Jamaica Public Service 7% dropped $6.50 in closing at $39.50 after an exchange of 15 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading jumps
Trading picked up on Friday on the Junior Market of the Jamaica Stock Exchange, with trading in only 36 securities compared with 39 on Thursday following a 106 percent jump in the volume of stocks traded
as funds pulled into the market surged 152 percent more than Thursday as the market closed with prices of 12 stocks rising, 11 declining and 13 unchanged.
Investors traded 5,022,943 shares for $11,992,912 compared with 2,442,247 units at $4,763,066 on Thursday.
Trading averaged 139,526 shares at $333,136, compared with 62,622 units at $122,130 on Thursday, with the month to date, averaging 131,791 units at $311,505 compared with 130,432 stock units at $307,707 on the previous day and down compared to November with an average of 262,280 units at $587,545.
Spur Tree Spices led trading with 3.19 million shares for 63.6 percent of total volume followed by Fosrich with 514,108 units for 10.2 percent of the day’s trade and Regency Petroleum with 208,566 units for 4.2 percent market share.
At the close, the Junior Market Index lost 12.27 points to 3,700.76 after the market trade over 3,750 points in the morning session.
The Junior Market ended trading with an average PE Ratio of 12.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, AMG Packaging rose 59 cents to end trading for the week at $2.89 after an exchange of 66,994 units, even as the stock started trading X-dividend on Friday, with the record being December 11 for the dividend payment of a 10 cents per share. Express Catering gained 25 cents in closing at $4 after an exchange of 4,464 stocks, Fontana lost 63 cents to close at $9.57 with traders dealing in 65,965 shares. Honey Bun popped 18 cents to end at $6.44 in an exchange of 1,747 stock units, Indies Pharma increased 20 cents and ended at $3, with 5,665 shares changing hands, 
Jamaican Teas climbed 25 cents to $2.55 with a transfer of 119,469 stocks, as buyers eat away at the limited supply of stocks on offer. Jetcon Corporation shed 8 cents and ended at 75 cents, with a mere 1,335 units crossing the market, Knutsford Express declined $1.68 to close at $11.12 in switching ownership of 2,300 stock units, Lasco Distributors fell 39 cents to end at $3.61 with shareholders swapping 112,863 shares. Lasco Manufacturing dipped 20 cents in closing at $4.30 while exchanging 44,307 stocks, Limners and Bards dropped 9 cents to $1.61 with investors dealing in 5,109 units and Main Event skidded 98 cents to close at $13, after 54,527 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Markets gains in thin trading, juniors slip
Trading hit a distressing low point on the Jamaica Stock Exchange on Friday, with the Junior and JSE USD market slipping back as the Main Market climbed appreciably to close out the week positively but with the overall trading down sharply after just $32 million of shares changed hands as Carib Cement rose $2, NCB Financial gained $1.80, Kingston Wharves up $1.49 and AS Bryden up $1.14, while Seprod dropped $1.70 and Scotia Group fell $1.52 helped to negate some of the gains.
At the close of trading, the JSE Combined Market Index climbed 2,826.48 points to close at 325,204.82, the All Jamaican Composite Index popped 2,477.78 points to finish at 346,872.54, the JSE Main Index rose 3,128.14 points to close at 312,199.59. The Junior Market Index dipped 12.27 points to finish at 3,700.76 and the JSE USD Market Index shed 0.42 points to finish at 230.61.
Investors traded 10,953,060 shares, in all three markets, down from 14,894,359 units on Thursday. The value of stocks traded on the Junior and Main markets amounts to a mere $31.8 million versus $144.79 million on Thursday. The JSE USD market closed after 57,458 shares were traded, for US$3,210 compared to 134,274 units at US$39,564 on Thursday.
In the preference segment, Jamaica Public Service 7% dropped $6.50 in closing at $39.50.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.6 on 2022-23 earnings and 13.8 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Pertinent information is essential for the successful navigation of the numerous investment options in stock markets. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
