Trading activity on the Jamaica Stock Exchange Main Market ended on Monday, with the volume of stocks traded declining by 18 percent and the value 89 percent lower than on Friday, with trading in 55 securities compared to 52 on Friday, with prices of 19 rising, 23 declining and 13 ending unchanged.
The market closed with trading of 15,892,941 shares valued $40,238,845 compared to 19,335,881 units at $380,400,356 on Friday.
Trading averaged 288,963 shares at $731,615 compared to 371,844 units at $7,315,391 on Friday and month to date, an average of 205,891 units at $1,499,211 compared with 197,054 units at $1,580,870 on the previous day and December that closed with an average of 264,266 units at $3,755,946.
Wigton Windfarm led trading with 8.92 million shares for 56.1 percent of total volume followed by Transjamaican Highway with 2.37 million units for 14.9 percent of the day’s trade, Sagicor Select Financial Fund with 1.70 million units for 10.7 percent market share and Ciboney Group with 1.35 million units for 8.5 percent of total volume.
The All Jamaican Composite Index declined 2,854.05 points to finish at 356,985.14, the JSE Main Index sank 873.63 points to conclude trading at 321,365.17 and the JSE Financial Index slipped 0.53 points to 68.33.
The Main Market ended trading with an average PE Ratio of 13.4. 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 three with lower offers.
At the close of trading, Barita Investments fell $1.10 to $71.30 after 1,837 stocks passed through the market, Caribbean Cement shed $1.40 in closing at $55.50 after an exchange of 14,235 shares. Eppley lost 89 cents to end at $37.10, with 150 stock units crossing the market, First Rock Real Estate gained 99 cents to close at $7 after an exchange of 29,573 shares, General Accident sank 40 cents to $5.35 with a transfer of 1,285 stocks. GraceKennedy skidded $1 to close at $78 while exchanging 104,553 units, Guardian Holdings dropped $9.49 in closing at $350.51 with investors transferring 622 stock units, Jamaica Broilers declined 48 cents and ended at $33.52 in an exchange of 16,917 shares.
MPC Caribbean Clean Energy rose $1 to end at $91, with 380 stock units crossing the market, NCB Financial rallied $1.95 to $67.40 in an exchange of 39,356 units, Scotia Group dipped 35 cents to close at $39.03 after 27,475 stocks were traded. Seprod increased $1.95 and ended at $85.95 as investors exchanged 2,639 units, Stanley Motta sank 76 cents to $5.27 in trading 47,893 stocks, Supreme Ventures dropped 81 cents to end at $25 with 45,360 shares clearing the market and Sygnus Credit Investments lost 48 cents in closing at $10.50 with traders dealing in 102,871 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with an exchange of 501,713 shares for US$12,814 compared to 30,414 units at US$3,460 on Friday.
At the close, Margaritaville dipped 0.41 of one cent and ended at 11.99 US cents in an exchange of 144 units, Proven Investments shed 0.46 of a cent to 13.04 US cents with investors dealing in 29,843 stocks, Sterling Investments ended at 1.6 US cents after 1,383 shares were traded. Sygnus Credit Investments declined 0.5 of one cent to end at 8 US cents, with an exchange of 7,315 stocks and Transjamaican Highway advanced 0.08 of a cent to 1.79 US cents with investors transferring 463,007 shares.
The market closed with trading of 8,711,353 shares valued at $16,041,925 up from 3,979,718 units at $9,087,458 on Friday.
At the close, AMG Packaging skidded 12 cents to end at $3.05 with an exchange of 4,000 units, after the company posted a 64 percent rise in profit $to 40 million for the first quarter to November, Caribbean Assurance Brokers shed 23 cents to end at $2.02, with 7,382 stocks crossing the market, Caribbean Cream dropped 40 cents and ended at $4.05 as investors exchanged 2,223 shares. Fontana shed 7 cents in closing at $10.63 after 73,121 stock units crossed the market, Future Energy rallied 9 cents to close at $3.80 with investors trading 155,057 shares, Indies Pharma declined 24 cents to $2.71 in an exchange of 64,959 units. Iron Rock Insurance lost 43 cents to close at $2.07 with investors swapping 176 stocks, ISP Finance dropped $3.41 to $21.45 with a transfer of 2,380 stock units, Jamaican Teas fell 19 cents and ended at $2.40 while exchanging 182,250 shares. Jetcon Corporation rose 7 cents to end at 85 cents with investors transferring 33 stocks, Knutsford Express dipped 40 cents to $12 in an exchange of 2,223 units, Lasco Distributors fell 20 cents and ended at $3.90 with traders dealing in 56,178 stock units.
Lasco Manufacturing lost 7 cents to close at $4.48 after an exchange of 58,705 shares, Lumber Depot advanced 11 cents to end at $2.50 in trading 360,630 stock units, Main Event sank 60 cents in closing at $14.20, with 20,634 stocks changing hands, before the company released 2023 full year results with earnings of 69 cents per share. MFS Capital Partners shed 9 cents to $2.35 after trading in 456,811 units, Paramount Trading declined 15 cents in closing at $1.45, with 15,826 shares crossing the exchange and Tropical Battery popped 7 cents to $2.10 with investors dealing in 528,007 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of trading, the JSE Combined Market Index fell 1,296.25 points to 333,903.28, the All Jamaican Composite Index sank 2,854.05 points to end trading at 356,985.14, the JSE Main Index dropped 873.63 points to conclude trading at 321,365.17. The Junior Market Index lost 54.46 to end at 3,712.49 and the JSE USD Market Index fell 0.30 points to finish at 237.76.
At the close of the market, some of the major Main Market stocks that rose are First Rock Real Estate gained 99 cents to close at $7, MPC Caribbean Clean Energy rose $1 to end at $91, NCB Financial rallied $1.95 to $67.40 Seprod climbed $1.95 and ended at $85.95.
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 market closed trading with an exchange of a mere 49,600 shares for $1,406,823 compared with 88,802 stock units at $1,700,694 on Friday.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and five with lower offers.
23,097 stock units passed through the market. National Enterprises rose 39 cents to $3.95 after investors ended the trading of 3,000 units, One Caribbean Media remained at $3.50 with 475 stocks crossing the exchange, Prestige Holdings declined 4 cents to end at $9.26 with traders dealing in 456 shares. Republic Financial lost $1 to close at $121 while exchanging 725 stocks, Scotiabank advanced 45 cents to $70 with investors transferring 7,712 units and Unilever Caribbean skidded 15 cents to end at $11.60 after 136 stock units were traded.
There is no change to the Main Market list in the week but General Accident surprisingly jumped 23 percent to $5.75 on limited volume while Scotia Group was up 4 percent to $39.38. Palace Amusement fell 12 percent to $1.23, but supply seems low around these prices and Pulse Investment slipped by 6 percent to $1.85.
Caribbean Cement has both limited buying and selling currently, suggesting the price may stay around the mid $50 range for some time. Selling in General Accident is down but buyers are not yet close to the prices for limited stocks on offer. Watch Seprod as a visible supply of the stock below the $90 range is very limited. Stanley Motta has only three offers amounting to 10,437 shares between $6.04 and $8
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.
Operating revenues declined by 27 percent to $439 million in the November quarter from $601 million in the similar quarter in 2022 and for the half year, revenues fell by 28 percent from $1.2 billion to just $865 million. The company generated nearly $15 million in other operating income for the quarter versus a loss of $3, million in 2022, with the half year bringing in $33 million up from $27 million in 2022.
Much of the profit improvement arose from increased efficiency in the operations, following the introduction of new machinery.
The results emanated from a 27 percent jump in revenues to $315 million from $248 million for the same period the prior year. For the year to date revenues rose 8 percent to $869 million $803 million in 2022. Growth in revenues for the nine months to November was negatively affected by downtime of one of the CT units in Kingston in the previous quarter.
