The Main and the Junior markets of the Jamaica Stock Exchange declined in trading on Tuesday as the JSE USD Market closed modestly higher as trading ended with the number and value of stocks changing hands in line with that of the previous day and resulted in prices of just 26 shares rising and 46 declining.
At the close of trading, the JSE Combined Market Index plunged 1,942.45 points to 324,542.27, the All Jamaican Composite Index dived 2,475.39 points to end at 352,724.22, the JSE Main Index sank 1,735.59 points to close at 311,699.02. The Junior Market Index shed 39.66 points to end at 3,692.00 and the JSE USD Market Index gained 0.93 points to end trading at 225.05.
At the close of trading, 22,006,869 shares were exchanged in all three markets, from 22,314,890 units on Monday, with the value of stocks traded on the Junior and Main markets ending at $92.28 million, just a fraction below $92.29 million on the previous day and the JSE USD market closed with an exchange of 44,268 shares for US$1,914 compared to 150,061 units at US$5,848 on Monday.
In Main Market activity, Sagicor Select Financial Fund led trading with 4.68 million shares followed by Transjamaican Highway with 2.61 million stocks, Wigton Windfarm closed with 1.96 million units and Wisynco Group with 1.19 million shares.
In Junior Market trading, Derrimon Trading led trading with 2.05 million shares followed by EduFocal with 1.82 million stocks and Jamaican Teas with 1.25 million units.
In the preference segment, Eppley 7.75% preference share climbed $1 and ended at $20.99, Jamaica Public Service 7% sank $1.34 to $46 and 138 Student Living preference share jumped $41.50 to finish at $190.
The market’s PE ratio, the most popular measure used to value stocks, ended at 19.7 on 2023-24 earnings and 135 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and 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 within a sector 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 required to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The chart should be used in making rational decisions when investing in stocks close to the average for the sector, 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 incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
Trading picks up on Trinidad Exchange
Rising stocks pushed the Trinidad and Tobago Stock Exchange higher on Tuesday, with a 377 percent surge in the volume of stocks traded valued at 84 percent more than on Monday and resulting in trading of 14 securities compared with 17 on Monday and ending with prices of two rising, three declining and nine ending firm.
The market closed with trading of 620,157 shares for $2,778,366 compared to 130,023 stock units at $1,506,460 on Monday.
An average of 44,297 shares were traded at $198,455 compared with 7,648 units at $88,615 on Monday, with trading month to date averaging 12,596 shares at $143,965 compared with 11,366 units at $141,852 on the previous day and an average for June of 9,110 shares at $119,497.
The Composite Index rose 3.60 points to wrap up trading at 1,114.52, the All T&T Index increased 0.72 points to end at 1,665.79, the SME Index remained unchanged at 78.26 and the Cross-Listed Index advanced 0.94 points to end at 73.43.
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 of the market, Angostura Holdings remained at $17.55 after 94 stocks crossed the market, First Citizens Group ended at $44 after investors exchanged 819 stocks, FirstCaribbean International closed at $6.86 with 3,015 shares crossing the exchange. GraceKennedy popped 29 cents to close at $3.79 in trading 649 stock units, JMMB Group skidded 2 cents in closing at $1.11 after an exchange of 200 shares, Massy Holdings slipped 2 cents to end at $3.58 with a transfer of 561,549 units.
National Enterprises ended at $3.19 as investors exchanged 200 stocks, Point Lisas shed 5 cents to close at $3.10 with 355 stock units clearing the market, Republic Financial ended at $112.83 in an exchange of 1,816 shares. Scotiabank remained at $63 with investors swapping 3,415 units, Trinidad & Tobago NGL ended at $6.75 in an exchange of 1,020 stocks, Trinidad Cement popped 1 cent to end at $2.65 with investors dealing in 18,630 stocks. Unilever Caribbean remained at $10.99 after an exchange of 50 shares and West Indian Tobacco ended at $8.49 with 28,345 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs on JSE USD Market
Trading jumped on Monday, with the volume of stocks traded climbing 217 percent after 58 percent more money changed hands on the Jamaica Stock Exchange US dollar market versus trading on Friday, resulting in trading in eight securities, compared to five previously, with prices of three declining and five ending unchanged.
The market closed with an exchange of 150,061 shares for US$5,848 up from 47,268 units at US$3,703 on Friday.
Trading averaged 18,758 stock units at US$731 versus 9,454 shares at US$741 on Friday, with a month to date average of 31,910 shares at US$2,288 compared with 32,875 units at US$2,402 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index lost 0.05 points to culminate at 224.12.
The PE Ratio, a most used measure to determine appropriate stock values, averages 7.9. The PE ratio is computed based on last traded prices divided by projected earnings computed by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of trading, AS Bryden remained at 22.49 US cents with investors swapping 10,228 units, First Rock Real Estate USD share sank 0.27 of a cent to 4.2 US cents after an exchange of 7,681 stocks, 
MPC Caribbean Clean Energy ended at 70 US cents with investors trading 200 shares. Proven Investments ended at 11 US cents after an exchange of 745 stock units, Sterling Investments shed 0.28 of a cent to end at 1.55 US cents, with 450 shares passing through the market, Sygnus Credit Investments ended at 7 US cents in switching ownership of 6,300 stocks and Transjamaican Highway closed at 2 US cents as investors exchanged 124,452 units.
In the preference segment, Sygnus Credit Investments E8.5% dropped 60 cents to US$10.40 with a transfer of 5 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Juniors slipped in trading on Monday
Trading activity fell on the Junior Market of the Jamaica Stock Exchange Monday, with a 32 percent decline in the volume of stocks traded at a 32 percent lower value than Friday following trading in 42 securities compared with 41 on Friday and ending with prices of 12 rising, 18 declining and 12 closing unchanged.
The market closed with trading of 10,085,530 shares for $22,474,177 compared with 14,787,906 units at $32,912,226 on Friday.
Trading averaged 240,132 shares at $535,099 down from 360,681 units at $802,737 on Friday with the month to date, averaging 368,304 units at $763,324 compared to 375,434 stock units at $776,020 on the previous day and June with an average of 318,732 units at $696,979.
Jamaican Teas led trading with 2.17 million shares for 21.5 percent of total volume followed by Derrimon Trading with 1.90 million stocks for 18.8 percent of the day’s trade and Future Energy with 836,167 units for 8.3 percent market share.
At the close of trading, the Junior Market Index shed 2.29 points to close at 3,731.66.
The Junior Market ended trading with an average PE Ratio of 12.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market on Monday, Blue Power lost 18 cents to finish at $4.30 in an exchange of 635 units, Cargo Handlers declined 40 cents and ended at $12 with 1,160 stocks crossing the market, Caribbean Assurance Brokers gained 11 cents to close at$3.74 in switching ownership of 25,354 shares. Dolla Financial rose 15 cents to close at $2.80 with 107,350 stock units crossing the exchange, 
Everything Fresh fell 13 cents to close at $1.85 with a transfer of 122,811 stock units, Express Catering advanced 7 cents to end at $4.02 as investors exchanged 3,865 units. Future Energy sank 25 cents to $3.24 with 836,167 stock units passing through the market, Jamaican Teas gained 6 cents to end at $2.45 after investors traded 2,169,235 shares, KLE Group shed 22 cents in closing at $2 with investors trading 39 stock units, Paramount Trading popped 11 cents to finish at $1.14 in an exchange of 108,961 shares and tTech dropped 20 cents and ended at $2.65 with investors swapping 51 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market drops
Declining stocks pushed the Jamaica Stock Exchange Main Market down at the close of trading on Monday, after an 11 percent lower volume of stocks traded with a 6 percent greater value than on Friday, following trading in 60 securities similar to trading on Friday, with prices of 19 stocks rising, 24 declining and 17 ending unchanged.
The market closed with an exchange of 12,089,527 shares for $69,811,459 compared with 13,604,571 units at $65,580,443 on Friday.
Trading averaged 201,492 shares at $1,163,524 compared with 226,743 units at $1,093,007 on Friday and for the month to date, an average of 635,008 units at $5,838,083 down from 659,733 units at $6,104,693 on the previous day and June that ended with an average of 246,425 units at $1,945,941.
Sagicor Select Financial Fund led trading with 2.75 million shares followed by Wigton Windfarm with 2.71 million stocks and Transjamaican Highway with 2.41 million units for 19.9 percent of the day’s trade.
The All Jamaican Composite Index fell 1,392.85 points to wrap up trading at 355,199.61, the JSE Main Index sank 1,032.32 points to 313,434.61 and the JSE Financial Index gained 0.02 points to end at 66.28.
The Main Market ended trading with an average PE Ratio of 14. The JSE Main and USD Market PE ratios are based on last traded prices and ICInsider.com’s forecasted earnings for companies with financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints rallied $1 to end at $7 with traders dealing in 3,341 stock units, Eppley declined $2.79 in closing at $35.11 in an exchange of 98 shares, Eppley Caribbean Property Fund popped $3.53 to $40.53, with 2,142 stocks crossing the market. General Accident increased 35 cents to finish at $6.70 with investors trading 11,033 units, Guardian Holdings lost $13.95 and ended at $333.05 with 6 stocks crossing the exchange, Jamaica Broilers sank 50 cents to close at $32.50 after a transfer of 238,322 units. Jamaica Producers climbed 50 cents to $25 as investors exchanged 136,219 shares, Jamaica Stock Exchange fell 30 cents to end at $11.10, with 379,670 stock units crossing the market, JMMB Group rose 71 cents $24.21 with investors exchanging 174,330 shares. 
Margaritaville gained $1.84 to close at $15.44 in switching ownership of 63 stock units, NCB Financial skidded $1.20 and ended at $52 with 25,396 stocks clearing the market, Pan Jamaica rallied 77 cents to $51.27 in trading 34,844 stock units. Portland JSX rose 55 cents and ended at $10.10, with 2,390 shares changing hands, Proven Investments sank $3.30 to $15.55 with investors dealing in 19,087 stock units, Scotia Group advanced $1.19 to finish at $45.19 with an exchange of 1,450 shares. Supreme Ventures shed $1 in closing at a 52 weeks’ low of $22 with investors swapping 136,342 stocks following the release of half year results that showed profit falling from $1.7 billion to $1.3 billion and the June quarter declining from $995 million to just $480 million and the Wisynco Group dropped 49 cents to close at $20.49 after an exchange of 253,100 units.
In the preference segment, Eppley 7.25% preference share dropped $2.79 to end at $17.01 after 5,700 stocks passed through the market, 138 Student Living preference share slipped $6.75 in closing at $148.50 after trading of 3 shares and Sygnus Credit Investments C10.5% lost $7.48 to close at $100.50 with an exchange of 90 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
All JSE markets fall
Declining stocks had the upper hand on the Jamaica Stock Exchange at the close of trading on Monday with all three markets declining, with the volume and value of stocks traded slipping from the previous trading day, resulting in prices of 31 shares rising and 37 declining.
At the close of trading, the JSE Combined Market Index climbed 1,004.46 points to 326,484.72, the All Jamaican Composite Index declined by 1,392.85 points to 355,199.61, the JSE Main Index fell 1,032.32 points to 313,434.61. The Junior Market Index slipped 2.29 points to 3,731.66 and the JSE USD Market Index dipped 0.05 points to finish at 224.12.
At the close of trading, 22,314,890 shares were exchanged in all three markets, down from 28,434,606 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $92.29 million, just below the $98.49 million on the previous trading day and the JSE USD market closed with an exchange of 150,061 shares for US$5,848 compared to 47,268 units at US$3,703 on Friday.
In Main Market activity, Sagicor Select Financial Fund led trading with 2.75 million shares followed by Wigton Windfarm with 2.71 million stocks and Transjamaican Highway with 2.41 million units.
In Junior Market trading, Jamaican Teas led trading with 2.17 million shares followed by Derrimon Trading with 1.90 million stock units for 18.8 percent and Future Energy with 836,167 units.
In the preference segment, Eppley 7.25% preference share dipped $2.79 to $17.01, 138 Student Living preference share slipped $6.75 to $148.50 and Sygnus Credit Investments C10.5% lost $7.48 to end at $100.50.
The market’s PE ratio, the most popular measure used to value stocks, ended at 20.1 on 2023-24 earnings and 13.6 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and 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 within a sector 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 required to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The chart should be used in making rational decisions when investing in stocks close to the average for the sector, 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 incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
Slide continues on Trinidad Exchange
Stocks ended mostly lower on the Trinidad and Tobago Stock Exchange on Monday, with a 64 percent fall in the volume of stocks traded, with a 26 percent lower value than Friday’s trades, resulting in 17 securities trading up from 16 on Friday and ending with prices of four rising, eight declining and five ended firm as the market ended with the main indices declining.
Trading ended with an exchange of 130,023 shares for $1,506,460 down from 356,474 stock units at $2,045,458 on Friday.
Trading averaged 7,648 shares at $88,615 down from 22,280 units at $127,841 on Friday. Trading for then month to date averages 11,366 shares at $141,852 down from 11,550 units at $144,483 on the previous day and an average for June of 9,110 shares at $119,497.
The Composite Index declined 7.57 points to close at 1,110.92, the All T&T Index shed 8.79 points to close at 1,665.07, the SME Index remained unchanged at 78.26 and the Cross-Listed Index fell 0.88 points to cease trading at 72.49.
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 of trading, Angostura Holdings slipped 20 cents to close at $17.55 after 50 shares passed through the market, Calypso Macro Investment Fund lost 65 cents to end at $23.60 with an exchange of 8 stocks, First Citizens fell 5 cents to $44 with 9,149 shares clearing the market. FirstCaribbean International Bank ended at $6.86 after an exchange of 10,404 stock units, GraceKennedy dipped 29 cents to finish at $3.50, with 4,315 shares crossing the market, Guardian Holdings sank 20 cents to end at $15.25 in an exchange of 2,059 units. JMMB Group rallied 3 cents in closing at $1.13, with 33 stocks crossing the market, Massy Holdings remained at $3.60 in switching ownership of 52,640 stock units, National Enterprises ended at $3.19, with 494 shares crossing the exchange. 
One Caribbean Media rallied 52 cents to close at $3.66 with a transfer of 400 stock units, Prestige Holdings ended at $11.50, with 62 stocks changing hands, Republic Financial slipped $2.17 to $112.83 with investors trading 3,737 stock units. Scotiabank ended at $63 after it closed with 224 shares being traded, Trinidad & Tobago NGL skidded 25 cents to $6.75 with investors trading 9,031 units, Trinidad Cement climbed 13 cents to close at $2.64 after an exchange of 3,294 stocks. Unilever Caribbean rose 24 cents to end at $10.99 with investors dealing in 268 stock units and West Indian Tobacco dipped 1 cent in closing at $8.49 after investors ended trading of 33,855 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
One Great Studio Q1 profit & stock plunge
One Great Studio was the last junior listing for 2023 with a $1 per IPO price in September 2023, following an oversubscription, with the price reaching a high of $1.15, but last traded at 81 cents on Friday with a PE ratio of 8 times 2024 projected earnings.
The price recently slipped to a low of 70 cents, following a 55 percent drop in first quarter profit to $10 million from $23 million in 2023, following a 21 percent fall in revenues from $115 million in 2023 to $91 million.
Even as revenues declined, the cost of sales rose marginally from $55 million to $56 million, plunging the gross profit margin down to 38.3 percent from 52.2 percent in 2023 and gross profit down sharply from $55 million to just $35 million.
In the first quarter of this year, the company served 88 clients, down from the 96 in 2023 the report to shareholders states.
The Shareholders’ Report & MD&A stated that “the decline in performance year over year was a result of various market factors that impacted our Search Engine Optimization business segment, leading to a temporary contraction.” From all indications, this seems to have stemmed from changes made by Google.
Administrative and general expenses grew by 19.3 percent or $3.4 million to $21 million for the period, that Management states “primarily reflects our ongoing investment in enhancing service delivery and operational efficiency.”
The company’s principal activities involve the provision of search engine optimisation, web design and development and software development services, with clients based in Jamaica, the wider Caribbean and other countries generating revenues of $461 million, 93 percent higher than $239 million in 2022 and reported profits of $79 for the year compared with just $28 million in 2022, after taxation of $19 million in 2022 versus $8 million in the prior year.
Djuvane Browne, Managing Director.
Cash flow generated by operations amounts to $18 million and ended at $19 million pushing cash funds to $50 million from $54 million in 2023.
Current Assets stood at $326 million at the end of March 2024, up from $178 million at the end of March 2023 while Current liabilities ended at $45.4 million down from $56.7 million at the end of the same period in 2023
Shareholders’ Equity amounts to $603 million at the end of March 2024, up from just $181 million a year ago, with profit and proceeds from the IPO boosting the shareholders’ capital. Long term loans fell from $286 million to just $19 million.
The company is looking to add other services by way of a possible acquisition in the future to benefit from synergies.
Iron Rock is back in ICTOP10
There are two changes to the ICTOP10 this week, as Iron Rock Insurance came roaring back after it was side lined from the TOP10 following the recent suspension of trading in the shares. The company released blowout results for 2024 and the first quarter this year, resulting in investors pushing the price to $3.04, with more to come, after the stock ended in both the Junior Market TOP10 and the all JSE TOP10.
Before the suspension of trading, Iron Rock stock was in ICInsider.com TOP10 Junior Market listing, with earnings of 32 cents per share for fiscal year 2023, the company bettered that by delivering 39 cents. The quarterly results to March showed a big improvement over the same period In 2023, accordingly, ICInsider.com projects earnings of 55 cents per share for 2024, putting it in the number 4 position on the Junior Market TOP10 even after the price moved 39 percent from $2.18 at the time of suspension to $3.04 this past week.
At the close of the week, Consolidated Bakeries rose 10 percent to close at $2.20, tTech is up 6 percent to $2.85, followed by One Great Studio that rose 5 percent to close at 81 cents while Access Financial fell 10 percent in closing at $19.02.
In the Main Market, Berger Paints plunged 29 percent to $6, on limited volume and with offers mostly above $8.40, followed by Margaritaville with a 12 percent fall to $13.60. Pulse Investments jumped 17 percent to $1.74, while VMW Investments rose 4 percent to $2.70.
The All JSE TOP10 combines all ordinary stocks listed on the Jamaica Stock Exchange and reflects the 10 best choices to profit from investing in stocks on the market.
The decline in Berger Paints’ price landed them in the number 2 position on the All JSE TOP10 list, while Iron Rock rocketed into the list at the expense of VM Investments and Access Financial moved back in as Pulse Investments dropped out, with the big price surge.
Lasco Financial Services after returning to the Junior Market TOP10, last week is now replaced by Iron Rock Insurance and in the Main Market, Pulse Investments dropped out of the TOP10 and is replaced by Palace Amusement.
The average PE for the JSE Main Market ICTOP 10 stands at 4.4, well below the market average of 13.7 and the Junior Market TOP10 sits at 6.6, just over half of the market, with an average of 12.9.
The Main Market ICTOP10 is projected to gain an average of 336 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 225 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 96, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 23 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 22.
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 2025 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, resulting 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.
TOP 10 Stocks, Daily Trading, Jamaican Stocks, Junior Market, Jamaican
Surge in remittance inflows to Jamaica
Total remittance inflows into Jamaica, jumped 5.9 percent in April and 1.2 percent for the four months to April, the second such increase for the year, with April inflows rising to US$288 million from $272 last year.
Inflows for April while up over 2023 is lower than the March intake of US$297.5 million, data released by the country’s central bank show.
Remittance inflows, a major source of foreign exchange for the country, rose by 1.2 percent with total inflows of US$1.085 billion compared with US$1.073 billion to April 2023.
The United States of America continues to be Jamaica’s largest source of remittance flows in April 2024, accounting for 69.7 percent of total flows, down from 70.2 percent in April last year. Other countries which contributed a notable share of remittances for the month were the United Kingdom, with 10.5 percent followed by Canada at 9.1 percent and the Cayman Islands at 6.3 percent, the report from Bank of Jamaica states.
