Trading activity dropped back sharply on Wednesday from Tuesday’s levels on the Jamaica Stock Exchange Main Market, with a 28 percent fall in the volume of stocks traded at a 74 percent lower value than on Tuesday, as the market returned to more sedate levels that characterises trading in recent days, following trading in 58 securities down from 53 on Tuesday, with 21 rising, 23 declining and 14 ending unchanged.
A total of 12,287,636 shares were traded for $53,452,673 down from 17,113,084 units at $207,420,352 on Tuesday.
Trading averaged 211,856 shares at $921,598 compared to 322,888 shares at $3,913,592 on Tuesday and month to date, an average of 157,781 units at $1,556,998, compared with 146,335 units at $1,691,498 on the previous day. October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway led trading with 6.98 million shares for 56.8 percent of total volume followed by Carreras with 1.78 million units for 14.4 percent of the day’s trade and Wigton Windfarm with 1.52 million units for 12.4 percent of the day’s trade.
The All Jamaican Composite Index popped 4,070.89 points to settle at 350,072.19, the JSE Main Index rallied 2,220.52 points to settle at 314,087.19 and the JSE Financial Index popped 1.00 points to finish at 69.27.
The Main Market ended trading with an average PE Ratio of 12.1. 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 13 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments rose 95 cents and ended at $71 with stakeholders exchanging 333 stock units, Caribbean Cement lost $1.41 to close at $49.59 in trading 834 shares, Eppley rallied 75 cents to $33.95 after a transfer of 270 stocks. First Rock Real Estate popped $1.30 to end at $8.80 as investors exchanged 2,371 units, GraceKennedy shed $1 in closing at $71.50 with a transfer of 20,186 shares, Guardian Holdings declined $20 to $420 while exchanging 236 units. Jamaica Broilers fell 95 cents to close at $34, with 12,228 stocks crossing the market, Jamaica Producers climbed $1 and ended at $21 in an exchange of 22,386 stock units, Margaritaville dropped $1.19 to end at $16.01 with shareholders swapping 1,000 shares. Mayberry Investments dipped 90 cents in closing at $7.10 after investors traded 4,434 stock units, MPC Caribbean Clean Energy skidded $1.66 to $73.51 with an exchange of 33 units, NCB Financial increased $1.99 in closing at $66.99, with 47,222 stocks clearing the market. Pan Jamaica advanced $2.95 to close at $50.45 with investors transferring 11,414 units, Proven Investments lost 73 cents and ended at $23 after 1,859 stocks passed through the market, Sagicor Group gained $1 to end at $43 with traders dealing in 7,726 shares. Seprod fell $4.99 to $75 after an exchange of 18,465 stock units and Stanley Motta popped 58 cents to end at $5.78 after trading 5,481 shares.
In the preference segment, Jamaica Public Service 7% shed $7.35 in closing at $41.65 after exchanging 47 stocks and Jamaica Public Service 9.5% dropped $100 and ended at $2800 with investors dealing in 1 unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks edged out Trinidad Exchange winners
The volume of stocks trading on the Trinidad and Tobago Stock Exchange on Wednesday climbed by 25 percent but at a lower 27 percent lower value than on Tuesday, resulting in the trading of 16 securities compared with 18 on Tuesday and ended with prices of three stocks rising, five declining and eight remaining unchanged.
Investors exchanged 231,326 shares for $1,524,317 versus 184,792 stock units at $2,093,368 on Tuesday.
On Wednesday an average of 14,458 units were traded at $95,270 compared with 10,266 shares at $116,298 on Tuesday. Trading for the month to date averages 9,905 stock units at $126,555 compared with 9,095 stock units at $132,115 on the previous day. The average trade for October amounts to 15,711 shares at $151,451.
The Composite Index advanced 4.82 points and settled at 1,194.47, the All T&T Index gained 0.12 points to 1,811.71, the SME Index remained at 79.99 and the Cross-Listed Index rallied 1.38 points to close at 74.75.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Angostura Holdings ended at $20.51 as investors traded 689 stocks, Ansa McAl remained at $54 after a transfer of 580 units, First Citizens Group rose 1 cent to $49.26 after 1,633 shares were traded. FirstCaribbean International Bank ended at $7 in an exchange of 40 stocks, GraceKennedy remained at $3.40 with investors transferring 10,000 shares, Guardian Holdings fell 5 cents in closing at $19.20, with 1,630 stock units clearing the market. JMMB Group ended at $1.41 with investors dealing in 12,030 units, Massy Holdings closed at $4.50 with a transfer of 120,573 stocks, National Enterprises remained at $3.55 after an exchange of 32,195 units. NCB Financial rallied 18 cents to close at $3 with shareholders swapping 8,400 stocks, One Caribbean Media skidded 10 cents to $3.50 in an exchange of 12,285 shares, Prestige Holdings lost 65 cents to end at $10.85 after trading of 3,111 stocks. Republic Financial climbed $2.58 to $124, with 3,506 shares changing hands, Scotiabank slipped 1 cent and ended at $72.60 after an exchange of 670 stocks, Trinidad Cement ended at $2.86, with 22,312 units crossing the market and Unilever Caribbean dipped 5 cents to $10.55 with an exchange of 1,672 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Seprod stock trades at $90
Seprod traded just 2,605 shares up to a 52 weeks’ high of $90 in Wednesday’s morning trading session on the Jamaica Stock Exchange. Trading is suspended as the price breached the circuit breaker, as there was limited selling of the stock.
Buying in the stocks could be better, with 43,579 units on the bid at $75 and 9,539 units between $75.01 and $80.90. Sellers range from 9,000 units at $80.90, 9,400 shares at $80.95, 2,989 units at $90 and 3,000 shares at $150.
As trading in the stock is suspended, more sellers and buyers could come to the market and change the day’s outcome.
At $90, the stock traded at a PE ratio of 18 times this year’s earnings. The significant publicly known development is the pending listing of Seprod subsidiary, AS Bryden and Sons, on the Jamaica Stock Exchange later this week. That will not affect the result of the group as it will neither increase nor decrease its earnings. It will not even change the group’s reported net asset value.
Seprod traded 1,459,106 shares in Tuesday trading session and closed at $79.99 with a gain of $6.97.
JSE USD Market inched higher
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks changing hands declining by 30 percent, valued 92 percent more than on Monday and resulted in four securities changing hands, compared to five on Monday with two rising and two declining.
Overall, 104,786 shares were traded, for US$6,106 compared to 148,704 units at US$3,173 on Monday.
Trading averaged 26,197 units at US$1,526, versus 29,741 shares at US$635 on Monday, with a month to date average of 17,781 shares at US$1,017 compared with 16,578 units at US$944 on the previous day. October ended with an average of 47,977 units for US$4,392.
The US Denominated Equities Index gained 1.46 points to finish at 231.85.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.9. 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 between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close, Margaritaville dropped 0.98 of one cent and ended at 12 US cents after a transfer of 6,669 units, Proven Investments popped 0.01 of a cent to 16 US cents in trading 21,020 stocks and Transjamaican Highway gained 0.05 of a cent to close at 1.7 US cents, with 76,467 shares changing hands.
In the preference segment, JMMB Group 6% fell 3 cents in closing at US$1.02 in an exchange of 630 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Decline for Trinidad & Tobago Exchange
Rising and declining stocks shared outcomes on the Trinidad and Tobago Stock Exchange equally on Tuesday, following a 60 percent rise in the volume of stocks traded and a 290 percent jump in value compared with Friday, resulting in 21 securities trading compared with 18 on Friday, with prices of seven stocks rising, seven declining and seven remaining unchanged.
Investors exchanged 538,556 shares for $11,455,215 compared to 335,666 stock units at $2,934,595 on Friday.
An average of 25,646 units were traded at $545,486 compared to 18,648 shares at $163,033 on Friday, with trading month to date averaging 13,913 shares at $233,182 compared with 12,166 units at $186,668 previously traded. The average trade for October amounts to 15,711 shares at $151,451.
The Composite Index declined 4.65 points to end at 1,197.31, the All T&T Index skidded 15.43 points to 1,814.13, the SME Index remained unchanged at 79.99 and the Cross-Listed Index gained 0.96 points to 75.21.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s popped $1 to end at $68.50 as investors exchanged 85 stocks, Angostura Holdings gained $1.74 in closing at $22.25 after a transfer of 24,010 units, Ansa McAl rose $2.95 to $57 with 131,104 shares crossing the market. Ansa Merchant Bank ended at $43.50 after investors traded 7,100 stocks, Calypso Macro Investment Fund climbed 89 cents to to $23.50 with a transfer of 22 shares, Endeavour Holdings ended at $15, with an exchange of 33 units. First Citizens Group ended at $49.25 with shareholders swapping 7,910 stocks, FirstCaribbean International Bank remained at $7, with 700 stock units crossing the exchange, Guardian Holdings declined 45 cents to close at $18.65 with traders dealing in 28,748 shares. JMMB Group lost 6 cents and ended at a 52 weeks’ low of $1.35, with 17,960 stocks crossing the market, L.J. Williams B share increased 10 cents to $2.40 in an exchange of 1,200 units, Massy Holdings fell 6 cents to end at $4.43 with investors transferring 174,722 stock units. National Enterprises remained at $3.55 after investors traded 4,000 shares, NCB Financial rallied 18 cents to close at $3.02 with 110,339 stocks clearing the market, Prestige Holdings skidded 5 cents to $11.45 in an exchange of 82 units. Republic Financial dropped $1.50 to a 52 weeks’ low of $124.50, with 7,600 stock units changing hands, Scotiabank shed 1 cent to end at $72.51 after investors exchanged 11,527 shares, Trinidad & Tobago NGL ended at $12.50 while exchanging 8,287 stock units. Trinidad Cement ended at $2.86 in trading 1,990 stocks, Unilever Caribbean advanced 49 cents to close at $11 with stakeholders exchanging 122 units and West Indian Tobacco dropped 41 cents to a 52 weeks’ low of $9.60 in switching ownership of 1,015 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.