Trading on the Jamaica Stock Exchange Is well down on trading on Tuesday with just 13.3 million shares changing hands valued at just over $30 million, but the market closed higher than the close on Monday, with the Main Market and the Junior Market climbing solidly but the JSE USD Market slipped for a 6th consecutive day.
At close, the JSE Combined Market Index climbed 2,615.44 points higher to 328,904.77, while the All Jamaican Composite Index rose just 262.79 points to 347,293.71, the JSE Main Index jumped 2,426.08 points to close at 314,062.31. The Junior Market Index surged 38.66 points to settle at 3,921.43 and the JSE USD Market Index declined for a sixth consecutive day after dipping 0.75 points to 222.34.
Investors traded 13,288,537 shares in all three markets, up from 21,002,315 stock units on Monday. The value of stocks traded fell on the Junior and Main markets to $30.29 million from $62.5 million on Monday. The JSE USD market ended trading after 212,100 shares were traded, for US$6,287, down from 1,287,632 units at US$32,552 on Monday.
The preference segment had no stocks with a notable price change.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.5 on 2022-23 earnings and 11.3 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 only going too far from it if 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 assess the value of stocks based on this measure quickly. 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.
JSE USD Market slipped for a 5th day
The Jamaica Stock Exchange US dollar market ended on Monday, with the market index declining for five consecutive days even as the volume of stocks changing hands jumped 229 percent, with a 40 percent fall in value from Friday and resulted in trading of six securities, compared to eight on Friday with four rising, two declining.
Overall, 1,287,632 shares were traded, for US$32,552 compared to 390,785 units at US$54,548 on Friday.
Trading averaged 214,605 units at US$5,425, versus 48,848 shares at US$6,818 on Friday, with a month to date average of 55,835 shares at US$2,192 compared with 45,010 units at US$1,972 on the previous day. Friday. September ended with an average of 73,281 units for US$5,102.
The US Denominated Equities Index shed 1.23 points to finish at 223.09.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6. 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 one with a lower offer.
At the close, Proven Investments climbed 0.17 of a cent and ended at 14.68 US cents in an exchange of 80,309 shares, 
Sterling Investments rallied 0.1 of a cent in closing at 1.7 US cents after 36,569 units were traded, Sygnus Credit Investments advanced 0.35 of one cent to 9.1 US cents, with 1,070 shares changing hands and Transjamaican Highway dropped 0.01 of a cent to close at 1.61 US cents while exchanging 1,168,634 stocks.
In the preference segment, JMMB Group 6% lost 6.6 cents to US$1.01 with a transfer of 1,000 stock units and Productive Business Solutions 9.25% preference share rose 6 cents to US$11.56 after investors ended trading 50 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price moves inched Main Market higher
Stock prices swung sharply both ways up and down on the Main Market of the Jamaica Stock Exchange on Monday, with Seprod leading the way up with $4 bounce, followed by Kingston Wharves with a gain of $2.44, NCB Financial Group up by $1.50 with Barita Investments coming in with the 92 cents gain in helping to lift the Main Market on Monday, with Guardian Holdings falling $10, followed by Pan Jamaica with $3.10, GraceKennedy down $1.70 as Caribbean Cement skidded $1, Jamaica Broilers 94 cents and Scotia Group dropping 93 cents.
Trading activity ended on Monday, with the volume of stocks traded rising 95 percent and the value falling 12 percent lower than on Friday, with trading in 54 securities compared with 52 on Friday, with 19 rising, 23 declining and 12 ending unchanged.
A total of 5,650,950 shares were traded for $35,185,337 compared with 2,896,830 units at $40,206,193 on Friday.
Trading averaged 104,647 shares at $651,580 compared to 55,708 shares at $773,196 on Friday and month to date, an average of 240,476 units at $1,524,746 compared to 249,952 units at $1,585,665 on the previous day. September closed with an average of 218,512 units at $1,768,691.
Wigton Windfarm led trading with 2.61 million shares for 46.2 percent of total volume, followed by Transjamaican Highway with 630,504 units for 11.2 percent of the day’s trade and Wisynco Group with 318,083 units for 5.6 percent market share.
The All Jamaican Composite Index rallied 813.68 points to settle at 347,030.92, the JSE Main Index climbed 136.65 points to end at 311,636.23 and the JSE Financial Index fell 0.47 points to 68.67.
The Main Market ended trading with an average PE Ratio of 12. 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 up to 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 advanced 92 cents and ended at $72.20 with stakeholders exchanging 19,677 shares, Berger Paints rose 45 cents to end at $7.44 after investors ended trading 581 stocks, Caribbean Cement skidded $1 to $49 while exchanging 5,598 stock units. Eppley gained 50 cents in closing at $34 with investors dealing in 301 units, GraceKennedy fell $1.70 to close at $73.20 with dealers transferring 9,741 units, Guardian Holdings dropped $10 to $430 with shareholders swapping 2 stock units.
Jamaica Broilers shed 94 cents in closing at $32.56 in an exchange of 6,946 stock units, Kingston Properties dipped 60 cents to close at $6.90, with 10,106 stocks crossing the market, Kingston Wharves rallied $2.44 to end at $27.94 with 819 shares changing hands. Mayberry Investments popped 48 cents to end at $7.48, with 126 stock units crossing the exchange, Mayberry Jamaican Equities climbed 49 cents and ended at $10.49 after an exchange of 406 stocks, NCB Financial increased $1.50 to close at $65 as 35,384 units passed through the market. Pan Jamaica dropped $3.10 to end at $47 after a transfer of 1,087 stock units, Sagicor Group rose 45 cents in closing at $43.50 with traders dealing in 20,920 stocks, Scotia Group declined 93 cents to $33.52 in an exchange of 255,607 shares, 
Seprod gained $4 and ended at $74 with an exchange of 62,271 units and Wisynco Group popped $1.07 to close at a 52 weeks’ high of $21 with 318,083 units clearing the market.
In the preference segment, Jamaica Public Service 7% increased $7.88 to $49.90, with 192 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Mailpac hits 1 year high, 1 Great Studio hits low
Mailpac closed trading at a 52 weeks’ high of $2.37 on Monday while the recently listed One Great Studio traded at a record low of $0.90 before bouncing to close the day at $1.05 on the Junior Market of the Jamaica Stock Exchange Monday. Trading ended with the volume of stocks changing hands rising to 14,063,733 units for $27,307,285 up moderately from 13,829,730 units at $26,730,250 on Friday, with trading in 43 securities compared with 42 on Friday and ended with 14 rising, 19 declining and 10 closing unchanged.
Trading averaged 327,064 shares at $635,053 compared to 329,279 shares at $636,435 on Friday with the month to date, averaging 288,574 units at $648,457 compared with 285,783 stock units at $649,429 on the previous day. September closed with an average of 220,239 units at $459,425.
One Great Studio led trading with 3.06 million shares for 21.8 percent of total volume after the stock price sank to an all-time low of 90 cents, followed by Jamaican Teas with 2.73 million units for 19.4 percent of the day’s trade, EduFocal chipped in with 2.26 million units for 16 percent market share, Stationery and Office Supplies with 1.47 million units for 10.4 percent of stocks traded and ONE on ONE Educational with 1.07 million units for 7.6 percent of total volume.
At the close, the Junior Market Index slipped 6.75 points to settle at 3,882.77. The Investor’s Choice bid-offer indicator closed with a positive reading, with 11 stocks ending with bids higher than their last selling prices and just three with lower offers.
The Junior Market ended trading with an average PE Ratio of 10.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
At the close, Cargo Handlers jumped $1.97 to close at $12.95, with just 149 shares crossing the market, Dolla Financial lost 8 cents and ended at $2.50 after an exchange of 683,742 stocks, EduFocal fell 10 cents to $2.40 after 2,255,519 stock units passed through the market. Elite Diagnostic shed 12 cents to end at $1.65 while exchanging 43,846 units, b>Fontana dipped 28 cents in closing at $11.11 in an exchange of 78,169 stocks, Honey Bun dropped 16 cents to close at $6.34 with shareholders swapping 1,300 stock units. Indies Pharma gained 25 cents and ended at $3 with traders dealing in 2,000 shares, ISP Finance skidded $4.22 to end at $26.78 after a transfer of a mere 170 units, Jamaican Teas declined 9 cents to $2.35 with investors transferring 2,730,495 units. 
JFP Ltd shed 8 cents in closing at $1.41, with 467,658 shares changing hands, Lasco Distributors increased 17 cents to close at $4.32, with investors dealing in 35,188 stocks, Lasco Manufacturing rose 45 cents to $5 after an exchange of 16,588 stock units. Limners and Bards lost 13 cents in closing at $1.76, with 91,143 units crossing the market, Mailpac Group climbed 22 cents and ended at a 52 weeks’ closing high of $2.37, with stakeholders exchanging 73,614 stock units, Main Event skidded 48 cents to end at $14.01 in an exchange of 72,760 stocks. MFS Capital Partners fell 12 cents to end at $2.01 and closed after 153,971 shares passed through the market, 
Spur Tree Spices popped 8 cents and ended at $2.14 in switching ownership of 21,212 stocks and Stationery and Office Supplies dropped 13 cents to close at $1.62 after investors ended trading 1,467,826 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jamaican stocks start week with mixed results
Seprod bounced $4 on the Main Market of the Jamaica Stock Exchange on Monday and was followed by Kingston Wharves with a gain of $2.44, NCB Financial Group up by $1.50 with Barita Investments coming in with the 92 cents gain in helping to lift the Main Market on Monday after Guardian Holdings fell $10, followed by Pan Jamaica $3.10, GraceKennedy down $1.70, Caribbean Cement skidded $1, Jamaica Broilers 94 cents and Scotia Group down 93 cents.
The three markets closed mixed on Monday in trading on the Jamaica Stock Exchange, with more stocks trading than on Friday but valued slightly below Friday’s trades.
At close, the JSE Combined Market Index inched 67.56 points higher to 326,289.33, while the All Jamaican Composite Index popped 813.68 points to finish at 347,030.92, the JSE Main Index rallied 136.65 points to close at 311,636.23. The Junior Market Index shed 6.75 points to settle at 3,882.77 and the JSE USD Market Index declined for a fifth consecutive day after skidding 1.23 points to close at 223.09.
Investors exchanged 21,002,315 shares in all three markets, up from 17,117,345 stock units on Friday. The value of stocks traded fell on the Junior and Main markets to $62.5 million from $66.9 million on Friday. The JSE USD market ended trading with 1,287,632 shares at US$32,552 compared to 390,785 units at US$54,548 on Friday.
In the preference segment, Jamaica Public Service 7% added $7.88 to close at $49.90.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.5 on 2022-23 earnings and 11 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 assess the value of stocks based on this measure quickly. 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.
Fall for Trinidad Stock Exchange
The Trinidad and Tobago Stock Exchange suffered a notable loss in the main indices on Monday, with the volume of stocks traded declining 33 percent with the value 66 percent lower than on Friday, resulting in 16 securities trading down from 20 on Friday, with prices of four stocks rising, six declining and six remaining unchanged.
Investors exchanged 156,493 shares for $1,679,903 down from 235,238 stock units at $4,973,728 on Friday.
An average of 9,781 units were traded at $104,994 compared to 11,762 shares at $248,686 on Friday. Trading for the month to date averaged 13,321 shares at $136,742 compared with 13,532 units at $138,637 on the previous day, down from the average trade for September of 21,948 shares at $198,506.
The Composite Index skidded 10.93 points to close at 1,182.34, the All T&T Index lost 13.72 points to finish at 1,799.09, the SME Index remained at 79.99 and the Cross-Listed Index fell 1.11 points to 73.13.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Agostini’s remained at $67.05, with 150 shares crossing the market, Ansa McAl ended at $54.05 with investors exchanging 4,003 units, First Citizens Group ended at $49 in trading 1,214 stocks, FirstCaribbean International Bank remained at $6.99 with traders dealing in 100 stock units. GraceKennedy fell 20 cents in closing at $3.20 in an exchange of 6,165 stock units, Guardian Holdings increased $1 and ended at $20 with stakeholders exchanging 31,222 shares, JMMB Group remained at $1.50 with an exchange of 5,001 units. Massy Holdings dipped 4 cents to end at $4.55 with a transfer of 65,500 stocks, National Enterprises ended at $3.50, with 3,654 units changing hands, NCB Financial shed 10 cents to $2.85 after investors ended trading of 4,000 shares. Prestige Holdings declined 62 cents in closing at $10.25, with 636 stock units crossing the exchange, 
Republic Financial skidded 50 cents to $119.50 with an exchange of 1,493 stock units, Scotiabank popped 1 cent higher to $72.01, with 1,508 stocks clearing the market. Trinidad & Tobago NGL rallied 4 cents to close at $10.89 after an exchange of 2,374 units, Trinidad Cement added 1 cent and ended at $2.91 after exchanging 23,833 shares and West Indian Tobacco dropped 49 cents to close at a 52 weeks’ low of $9.51, with 5,640 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Disappointing early Q3 results
Profits are the primary driver of stock prices. The early release of third quarter results for 2023 for some listed companies has been less than inspiring, with the majority reporting lower revenues and profits for the third quarter and, in some cases, reduced revenues and profits for the year to date. That is not the results the market needs to lift a sagging market weighted down by some poor profit results for the year and tight monetary policy being pursued by Jamaica’s Central Bank.
Margaritaville, located in the Turks & Caicos Islands
So far, Companies reporting include AMG Packaging, Caribbean Cream with it trading brand Kremi, Express Catering, Image Plus Consultants, Knutsford Express, Margaritaville, Mayberry Investments, Paramount Trading and Portland JSX Fund.
AMG Packaging reported a slight drop in full year earnings to August of $94 million. The 2023 performance is better than that of 2022, with the current year’s figures including a one-off charge and vastly increased taxation than in the previous year.
Profit after tax is down from $105 million in the previous year, but this is after taxation that climbed from $18 million to $39 million in the current year. Revenues in the current year come out at $1 billion, up from $996 million in the prior year. For the quarter, revenues fell to $230 million from $257 million, with profits after tax of $19 million, down from $25 million in the previous year. The 2023 result was dragged down by a one off charge relating to payroll tax credits that were not allowed in prior years, amounting to $11 million, had this not been the case, profits would have been higher than for the previous year. Additionally, the taxation charge for the year was $11 million versus just $5 million in the prior year’s fourth quarter.
Caribbean Cream reported revenues of $646 million for the 2023 August quarter versus $645 million in 2022, with the year to date revenues slipping into $1.25 billion from $1.257 billion in 2022. Profit fell to $3.6 million in the August quarter, down from $7 million in 2022, but is up to $10 million for the six months from $8.5 million in 2022.
Revenues and profits rebounded strongly at Express Catering in the first quarter to August 2023 versus 2022. Net profit for the quarter ended at US$843,114 for EPS of 0.051 US cents, up 29 percent from a profit of US$652,841, with EPS of 0.040 US cents in the similar period in 2022 as revenues climbed 30 percent to US$5.4 million from US$4.9 million in 2022 aided by a strong rebound in tourism traffic passing through the Sangster International Airport in Montego Bay, as well as the opening of new restaurants in the airport.
Image Plus reported sharply lower second quarter results, a 40 percent drop in earnings from $64 million before tax in 2022 to just $39 million for the second quarter as revenues declined by 7 percent to $254 million from $274 million in 2022 but remained flat for the half year at $554 million, resulting in pretax profit falling 33 percent from $153 million down to $103 million. The company indicated that revenues decreased due to machine breakdown.
Revenues at Knutsford Express jumped 18.5 percent for the first quarter ending August to $492 million from $415 million in the 2022 first quarter. The revenue improvement translated to slight growth in profit as cost rose nearly 26 percent to $380 million from $303 million. The company stated that it increased its workforce to manage growth. Before tax, profit increased marginally to $86 million from $84 million in the prior year.
Margaritaville was one company delivering improved revenues and profit for the 2023 first quarter, primarily reflecting improvement in tourism traffic in the Caribbean region. The company generated revenues of US$1.8 million in the August 2023 quarter, up solidly from US$1.42 million in the prior year and delivered gross profit of $1.33 billion this year versus US$1.03 million. Net profit surged to US$230,000 for the year to date against just US$94,000 in 2022.
Mayberry Investments released nine months’ results with a $985 million loss for the third quarter and $693 million loss for the nine months after reporting significant investment losses of around $2 billion in both periods, but shareholders’ equity remains strong at $15.75 billion.
Paramount
Paramount Trading reported lower revenues and profits in the first quarter ending August, following what the company states is the conclusion of the best major six month contract to supply admixture to the construction sector. Revenues declined by 28 percent to $426 million from $595 million the year before and profits fell by 32 percent to $65 million from $97 million the previous year.
Portland JSX Fund reported a worsened loss of US$1,457,327 for the quarter to August this year, up from US$416,643 in the similar quarter in 2022 and a loss of US$8.71 million versus a profit of US$376,681 profit for the six months to August 2022.
The results reflect net fair value losses on investments of US$1.3 million in the quarter and US$8.3 million for the half year.
85% gainer jumps ICTOP10
The Junior Market had an 85 percent winner during the past week, with only three stocks recording notable price changes in a market that remained fairly stable in the holiday-shortened week, with a slippage of only a few points. Price movements in the Main Market were moderate, with the highest being 5 percent at the end of the week, in which the JSE Index dropped more than 3,000 points, with the All Jamaica composite Index slipping just 90 points.
Edufocal was the star performer of the week with a big 85 percent surge in price to close at $2.50, following the company reporting that the board of directors is to meet on October 27 to discuss a possible rights issue and a stock split. Elite Diagnostic rose 13 percent to $1.77 and Everything Fresh dropped 11 percent to $1.40. The Main Market closed the week with JMMB Group falling 5 percent to $27.10, being the only stock with a notable change.
Market activity resulted in two new additions to the Junior Market ICTOP10 and one to the Main Market. Returning to the Junior Market TOP 10 are Lasco Financial Services and Lasco Manufacturing, replacing Caribbean Cream and Edufocal. Full year earnings for the former were downgraded to 55 cents per share following the release of second quarter results, which showed flat revenues for the August quarter and half year compared with 2022 and lower profit for the second quarter, with increased profit for the six months compared to 2022. Lasco Financial Services reported disappointing results for the first quarter of the new fiscal year to June. 
The company did not benefit as much from interest income as would be expected and had adequate funds on hand to expand the loan portfolio, development management indicated they would be pursuing for the rest of the year. Significant expansion of loans could radically transform both revenues and profit for the year. The extent of this improvement is unclear currently, however, the potential suggests that this is a stock to watch going forward as it could surprise to the upside. Lasco Manufacturing is, without question, a stock that is seriously undervalued, but investors pushed the price down during the week. This is clearly one for the future and one that investors should see continuous improvement in stock price over the next 12 months as the company rolls out improved profits in the quarters to come.
In the Main Market, Caribbean Producers returned to the ICTOP10 and replaced Scotia Group that was just squeezed out of the TOP10. CPJ performed well during the fiscal year ending June. The performance was obscured by a onetime charge related to past GCT claims that were booked in the past year, but for this charge, results would have been vastly better than reported, but investors may have been turned off by the results. 
The expectation is for profitability to improve during the current fiscal year ending in June 2024. The stock is clearly undervalued and has much room for growth over the next 12 months and beyond. Scotia Group, although out of the TOP10, reported a 74 percent in profit for the nine months to July and is terribly undervalued. Investors should be accumulated in the stock with the expectation for gradual appreciation, especially when the full year results are released with earnings expected to top $5.50 for the year to October 2023.
The average PE for the JSE Main Market ICTOP 10 stands at 5, well below the market average of 12. The Main Market ICTOP10 is projected to gain an average of 328 percent by May 2024, based on 2023 forecasted earnings.
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 105, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 22 for the top half and 16 excluding the stocks with overweight valuations.
The PE of the Junior Market TOP10 sits at 6, just over half of the market at 10.7. There are 9 stocks or 19 percent of the market, with PEs from 15 to 26, averaging 19 that are well above the market’s average. The top half of the market has an average PE of 14, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 261 percent by May 2024.
The divergence between the average PE of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
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 are likely to deliver the best returns up to the end of 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.
A week of decline for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the market declining on each trading day for the week and ended with the volume of stocks changing hands rising 39 percent and the value surging 694 percent more than on Thursday, resulting in eight securities traded, compared to five on Thursday, with five rising, three declining and no ending unchanged.
A total of 390,785 shares were traded for US$54,548 compared with 281,542 units at US$6,866 on Thursday.
Trading averaged 48,848 units at US$6,818 compared to 56,308 shares at US$1,373 on Thursday, with a month to date average of 45,010 shares at US$1,972, up from 44,626 units at US$1,487 on the previous day. September ended with an average of 73,281 units for US$5,102.
The US Denominated Equities Index dipped 6.28 points to 224.32.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio is calculated 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 four 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 gained 0.51 of one cent to end at 4.86 US cents while exchanging 3,939 shares, MPC Caribbean Clean Energy increased 2 cents in closing at 56 US cents after a transfer of 368 stocks,
Productive Business Solutions dipped 10 cents to close at US$1.50 in an exchange of 270 stocks. Proven Investments climbed 0.01 of a cent to end at 14.51 US cents with shareholders swapping 6,450 units, Sterling Investments dipped 0.3 of a cent and ended at 1.6 US cents after investors traded 11,631 stocks, Sygnus Credit Investments rallied 0.15 of a cent and ended at 8.75 US cents in trading 103,566 shares and Transjamaican Highway lost 0.02 of a cent to end at 1.62 US cents, with 244,791 units changing hands.
In the preference segment, JMMB Group 5.75% popped 2 cents to US$2, with 19,770 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market in weekend rally
Trading activity dropped sharply on the Jamaica Stock Exchange Main Market ended on Friday, with the volume of stocks traded declining 36 percent, with the value 52 percent lower than on Thursday, after dealing in 55 securities compared with 51 on Thursday, with 20 rising, 15 declining and 20 ending unchanged.
The market rally benefitted from some significant price increases after Guardian Holdings jumped $29, Massy Holdings rose $8.80, Pan Jamaica climbed $3.46, followed by Sagicor Group, adding $1.29 and Caribbean Cement gaining $1.27.
A total of 5,448,012 shares were traded for $31,523,597, down from 8,555,217 units at $65,664,035 on Thursday.
Trading averaged 99,055 shares at $573,156 versus 167,749 shares at $1,287,530 on Thursday and month to date, an average of 224,992 units at $1,391,827, compared with 232,031 units at $1,437,586 on the previous day. September closed with an average of 218,512 units at $1,768,691.
Transjamaican Highway led trading with 1.56 million shares for 28.7 percent of total volume, followed by Wigton Windfarm with 1.41 million units for 25.9 percent of the day’s trade and JMMB Group 7.35% – 2028 with 688,813 units for 12.6 percent market share.
The All Jamaican Composite Index dropped 168.58 points to finish at 346,820.31, the JSE Main Index popped 3,589.20 points to end at 315,399.16 and the JSE Financial Index rose 0.19 points to close at 68.67.
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 up to August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints dipped 93 cents in closing at a 52 weeks’ low of $6.50 in trading 6,563 units, Caribbean Cement rallied $1.27 to $50.32 and closed with an exchange of 13,083 stocks before the company reported nine months results with profit for the quarter rising bly from $1.2 billion in the 2022 third quarter to $1.94 billion on increasing revenues, with the nine months profit up modestly to $4.39 billion from $4.25 billion in 2022. Eppley rose 80 cents and ended at $34 with investors dealing in 209 shares, Guardian Holdings climbed $29 to close at $440 after an exchange of just one stock unit, 
Jamaica Producers lost 95 cents to end at $19 with 4,000 shares, clearing the market. JMMB Group popped 50 cents to $27.50 after trading 36,025 units, Massy Holdings gained $8.80 and ended at $98.80, with just three stocks crossing the market, MPC Caribbean Clean Energy skidded $13.50 in closing at $76.50 as investors exchanged 100 stock units. Pan Jamaica increased $3.46 to close at $50.46 after a transfer of 50 shares, Proven Investments fell $2.24 to end at $21.50 with stakeholders trading 6,000 units, Sagicor Group advanced $1.29 to $43.50 in switching ownership of 3,697 stocks. Seprod popped 50 cents to close at $71.50 after 2,054 stock units crossed the market and Wisynco Group advanced 71 cents in closing at $19.95 in an exchange of 107,030 shares.
In the preference segment, Jamaica Public Service 9.5% dropped $9 to end at $2,890, with one stock changing hands and Productive Business Solutions 9.75% preference share rose $4.25 and ended at $125 with traders dealing in 10 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
