Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks exchanged declining 81 percent with 94 percent fewer US dollars changing hands compared to Friday, resulting in trading in six securities, up from four on Friday with prices of two rising, two declining and two ending unchanged.
The market closed with an exchange of 186,772 shares for US$6,867 compared to 1,000,615 units at US$122,251 on Friday.
Trading averaged 31,129 shares at US$1,145 down from 250,154 stock units for US$30,563 on Friday. Trading for the month to date averages 105,380 shares at US$9,856 compared to 154,880 stocks at US$15,664 that was previously traded and January that ended with an average of 42,169 units for US$5,037.
The US Denominated Equities Index increased 1.01 points to close at 252.02.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.5. 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 three with lower offers.
At the close, Margaritaville dipped 0.07 of a cent and ended at 11.43 US cents after 2,500 stock units passed through the market, Productive Business Solutions ended at US$1.79, with only 27 shares being traded, Proven Investments popped 0.09 of a cent to 13.39 US cents with a transfer of 17,272 shares. Sygnus Credit Investments lost 0.07 of a cent in closing at 8.9 US cents as investors exchanged 12,000 stock units and Transjamaican Highway rose 0.05 of a cent to close at a 52 week’s high of 2.05 US cents with 154,946 shares clearing the market.
In the preference segment, JMMB Group US8.5% preference share remained at US$1.04 with an exchange of 27 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD Market closes higher
JSE Main market gains 2.4% in 2024
The Main Market of the Jamaica Stock Exchange closed higher on Monday, with the JSE Main Index racking up a rise of 2.4 percent for the year to date while the All Jamaican Composite Index clocked gains of 0.9 percent as the volume of stocks traded declined moderately and the value rising 21 percent above trading on Friday, with the market closing with an exchange of 60 securities compared with 57 on Friday, with prices of 23 stocks rising and just being edged out by 24 declining and 13 ending unchanged.
The market ended with an exchange of 11,358,844 shares for $65,164,581 versus 11,517,107 units at $53,884,020 on Friday.
Trading averaged 189,314 shares at $1,086,076 compared to 202,055 units at $945,334 on Friday and month to date, an average of 194,750 units at $1,046,514, in comparison with 197,636 units at $1,025,508 on the previous trading day and January that closed with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 4.33 million shares for 38.1 percent of total volume followed by Transjamaican Highway with 2.62 million units for 23 percent of the day’s trade, QWI Investments was next with 1.40 million units for 12.3 percent market share and Carreras with 1.33 million units for 11.7 percent of total volume.
The All Jamaican Composite Index advanced 2,499.80 points to settle at 369,213.68, the JSE Main Index increased 4,036.96 points to 333,377.53 and the JSE Financial Index popped 0.48 points to end at 70.90.
The Main Market ended trading with an average PE Ratio of 13.7. 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 four with lower offers.
At the close, Berger Paints popped 31 cents and ended at $5.75, with 2,223 stocks crossing the market, Caribbean Cement fell $1.15 to $53.80 with investors swapping 5,675 units, Eppley sank $1 in closing at $33 after an exchange of 4,943 shares. Eppley Caribbean Property Fund shed $1 to end at $39 in trading 1,007 stock units, First Rock Real Estate increased 30 cents to close at $9, with 276 shares crossing the market, General Accident climbed 42 cents to $5.20 with traders dealing in 2,050 stock units. Guardian Holdings lost $9 to end at $360 while exchanging 56 units, Jamaica Broilers rose 50 cents in closing at $34.50 with investors trading 41,960 stocks, Jamaica Producers rallied $2.35 to close at $26.25 with a transfer of 94,412 units. Kingston Properties gained 47 cents and ended at $7.53 with investors dealing in 685 stocks, Kingston Wharves advanced 48 cents to $27.98 in an exchange of 19,340 shares, Massy Holdings rose $3.64 to close at $98.49, with 314 stock units changing hands. 
Mayberry Group gained 59 cents in closing at $8.09 with an exchange of 6,017 shares, 138 Student Living popped 55 cents and ended at $4.16 with 219 stocks clearing the market, Pan Jamaica dipped $1.50 to end at $50 in an exchange of 3,734 units. Proven Investments increased 99 cents to $23 with investors trading 5,693 stock units, Seprod declined $1.87 to end at $85.13 after a transfer of 4,172 shares, Sygnus Credit Investments dropped 89 cents in closing at $10.85 after investors exchanged 38,278 units. Sygnus Real Estate Finance climbed $1.49 and ended at $11.49 in switching ownership of just two stock units and Wisynco Group skidded 97 cents to close at $22 after an exchange of 33,258 stock units.
In the preference segment, Eppley 7.75% preference share sank 48 cents to $19.02 and closed after an exchange of 79 shares. Jamaica Public Service 7% rallied $4.19 and ended at $46.09, with 10 stock units crossing the exchange and 138 Student Living preference share shed 50 cents in closing at $214 with investors transferring 56 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market crosses over 3,800 barrier
The 3,800 Junior Market index barrier was crossed at the close of trading on Monday, after a mild decline in the volume of stocks traded, but with 23 percent greater value than on Friday with investors trading 46 securities compared with 47 on Friday and ending with prices of 15 rising, 20 declining and 11 closing unchanged, but closing bids and offers suggest that the market could fall below the barrier on Tuesday.
The market closed with an exchange of 5,320,099 shares for $13,969,282 compared with 5,395,966 units at $11,327,944 on Friday.
Trading averaged 115,654 shares at $303,680, up from 114,808 units at $241,020 on Friday with the month to date, averaging 183,124 units at $438,290 compared to 218,797 stock units at $509,463 on the prior trading day and January with an average of 175,081 units at $401,738.
Spur Tree Spices led trading with 1.21 million shares for 22.8 percent of total volume followed by EduFocal with 566,845 units for 10.7 percent of the day’s trade and Future Energy with 387,681 stock units for 7.3 percent market share.
At the close of trading, the Junior Market Index gained 11.44 points to lock up trading at 3,810.21.
The Junior Market ended trading with an average PE Ratio of 13.5, 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 one stock ended with the highest bid higher than the last selling price and six with lower offers.
At the close, AMG Packaging dipped 30 cents to end at $2.63 as investors traded 1,843 shares, Cargo Handlers climbed $1.46 to $14.63, in trading 4,201 units, Caribbean Assurance Brokers sank 38 cents in closing at $2.09 with an exchange of a mere 1,902 shares. Consolidated Bakeries rose 22 cents to end at $2.22 after 359 stock units passed through the market, Derrimon Trading dipped 8 cents and ended at $2 with investors exchanging 32,813 shares, Everything Fresh lost 18 cents to end at $1.47, with 5,034 stock units crossing the market. Future Energy skidded 8 cents to end at $3.62 after an exchange of 387,681 units, Honey Bun gained 9 cents in closing at $6.49 with investors dealing in 2,782 stocks, Indies Pharma popped 12 cents and ended at $2.81 with 1,008 shares crossing the exchange. 
ISP Finance increased 50 cents to close at $31.50 with investors trading 10,066 stock units, Knutsford Express advanced $1.30 to $12.40, with 1,052 units changing hands, Lasco Financial fell 22 cents to close at $2.09 and closed with an exchange of 85,754 stocks. Lasco Manufacturing shed 17 cents to end at $4.75, with 194,615 units crossing the market, Limners and Bards declined 9 cents in closing at $1.40 after an exchange of 48,145 stocks, Lumber Depot rallied 10 cents and ended at $2.60 with investors transferring 209 shares. Mailpac Group lost 10 cents to $2.12 in an exchange of 77,255 stock units, MFS Capital Partners popped 12 cents and ended at $2.42 with traders dealing in 74,374 shares, Regency Petroleum skidded 11 cents in closing at $2.23 after a transfer of 48,449 stocks and Stationery and Office Supplies advanced 11 cents to end at $1.60, with trading in 340,288 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
All Markets rise on Monday
All three markets of the Jamaica Stock Exchange recorded gains in indices at the close of trading on Monday with the number of stocks changing hands and the value of stocks traded rising over the previous trading day resulting in prices of 35 shares rising and 3 declining.
At the close of trading, the JSE Combined Market Index climbed 3,886.27 points to close at 346,024.78, the All Jamaican Composite Index rose 2,499.80 points to lock up trading at 369,213.68, the JSE Main Index rallied 4,036.96 points to conclude trading at 333,377.53. The Junior Market Index rose 11.44 points to end at 3,810.21 and the JSE USD Market Index popped 1.01 points to conclude trading at 252.02.
At the close of trading, 16,865,715 shares were exchanged in all three markets, up from 17,913,688 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $79.13 million, up from $65.21 million Friday and the JSE USD market closed with an exchange of 186,772 shares for US$6,867 down from 1,000,615 units at US$122,251 on Friday.
Main Market trading was dominated by Wigton Windfarm trading with 4.33 million shares followed by Transjamaican Highway with 2.62 million units, QWI Investments ended with 1.40 million stock units and Carreras, 1.33 million stocks.
In the Junior Market, Spur Tree Spices led trading with 1.21 million shares followed by EduFocal with 566,845 stock units and Future Energy with 387,681 units.
At the close of the market, some Main Market stocks that rose were Jamaica Producers rallying $2.35 to close at $26.25, Massy Holdings rising $3.64 to $98.49, Proven Investments increasing 99 cents to $23 and Sygnus Real Estate Finance climbing $1.49 and ended at $11.49.
The major declining Main Market stocks include Caribbean Cement down $1.15 to $53.80, Eppley sinking $1 in closing at $33, Eppley Caribbean Property Fund shedding $1 to end at $39, Pan Jamaica dipping $1.50 to $50, Seprod declining $1.87 to end at $85.13, Sygnus Credit Investments dropping 89 cents in closing at $10.85 and Wisynco Group which skidded 97 cents to close at $22.
Stocks ending with major gains in the Junior Market are Cargo Handlers up $1.46 to $14.63, ISP Finance increasing 50 cents to $31.50, Knutsford Express advancing $1.30 to $12.40, with the major losing stock being Caribbean Assurance Brokers that sank 38 cents in closing at $2.09.
In the preference segment, Jamaica Public Service 7% rallied $4.19 and ended at $46.09.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.1 on 2022-23 earnings and 14.3 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 navigate numerous investment options successfully in the 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.
Supply is low for Scotia Group’s stock
The supply of Scotia Group stock is increasingly falling, with only 14 offers for sale of 144,000 shares posted at the close on Friday. The stock price jumped 14 percent this past week to a multi-year high of $46 and is up 20 percent since the start of 2024 and 32.5 percent since the publication of full year results on December 11.
Investors exchanged 135,109 shares on Friday up from 19,113 on Thursday and 80,990 on Wednesday. The number of stocks offered for sale and posted on the JSE site is very low with 144,000 units, supply is likely to increase as trading unfolds during the coming week.
Despite the price move since last year, the stock is attractively priced at a PE of 6 based on this year’s projected earnings of $7.50 and 8.30 based on reported the 2023 earnings of $5.54 per share. The valuation compares with an average of 13.7 for the Main Market based on projected 2023 earnings. At an average market PE, the stock would get to $76 based on earnings for 2023 and more, once investors start pricing in 2024 earnings into the price.
The price broke through the top of a channel, formed in late November. This coming week may determine whether the price will move decidedly higher or stall for a while.
Scotia is not the only stock with shrinking supplies that investors should take note of. Not only is it a bullish signal but it foretells of a sharp rally ahead. Investors should also look at Transjamaican Highway, Stanley Motta, AS Bryden and Seprod.
ICTOP10 Scotia Group jumps 20% in 2024
Scotia Group with the supply of the stock increasingly falling, with only 14 offers posted at the close on Friday the stock price jumped 14 percent this past week to a multi-year high of $46, for a gain of 20 percent since the start of the year and 25 percent since the publication on December 17 of “Why
Scotia Group Broke through the channel top on Friday following limited selling in the stock.
Scotia Group should be on your buy list”.
Despite the move, the stock remains in the ICTOP10 with much upside potential, but the price broke through the top of a channel, formed in late November. This coming week may determine whether the price will move decidedly higher to confirm if the break is sustainable.
Elsewhere, TransJamaican, a former 2024 TOP10 stock has gone on to record several record highs during the past week and traded at a record $3.30 and is up 86 percent plus a dividend that represented an 11 percent return since ICInsider.com placed it on the Watch list in April last year, when the price was S1.77.
During the past week, the Main and the Junior markets gained over one percent, led by Scotia Group as the leading market mover, with AMG Packaging following with a 13 percent rise. General Accident was the leading declining stock, down by 11 percent in a week when only four stocks declined in both markets.
The markets closed with no addition to the ICInsider.com TOP 10 stocks.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts that now carry a column of the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.7 and the Junior Market TOP10 sits at 7.4, just over half of the market, with an average of 13.5
The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 175 percent over the same time frame.
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 110, with an average of 31 and 21 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 13 stocks, or 27 percent of the market, with PEs ranging from 15 to 47, averaging 22, well above the market’s average. The top half of the market has an average PE of 19, possibly the lowest fair value for stocks, currently.
Of great import 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.
No price change for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with no change to the US Denominated Equities Index at 251.01 but the volume of stocks exchanged rose 154 percent after a 553 percent jump in the amount of US dollars that changed hands compared to Thursday, resulting in trading in four securities, compared to five on Thursday with no change in stock prices.
The market closed with an exchange of 1,000,615 shares for US$122,251 up sharply from 393,307 units at US$18,728 on Thursday.
Trading averaged 250,154 stock units at US$30,563 compared with 78,661 shares at US$3,746 on Thursday, with a month to date average of 154,880 shares at US$15,664 compared with January that ended with an average of 42,169 units for US$5,037.
The PE Ratio is used in computing appropriate stock values and averages 10.5 for the US dollar market. 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 two with lower offers.
At the close of trading, Proven Investments ended at 13.3 US cents with investors trading 1,106 stocks, Sygnus Credit Investments finished trading at 8.97 US cents after a transfer of 1,628 units and Transjamaican Highway remained at 2 US cents with investors dealing in 897,881 shares.
In the preference segment, JMMB Group US8.5% preference share advanced 1 cent and ended at US$1.04 in switching ownership of 100,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Scotia, JPG & Guardian push JSE Main Market
Trading on the Jamaica Stock Exchange Main Market ended on Friday, with the volume of stocks traded rising 6 percent and the value 13 percent lower than on Thursday, with trading in 57 securities compared with 56 on Thursday, with prices of 29 stocks rising, 16 declining and 12 ending unchanged.
The market closed with an exchange of 11,517,107 shares valued $53,884,020 versus 10,815,734 units at $61,998,356 on Thursday.
Trading averaged 202,055 shares at $945,334 compared to 193,138 units at $1,107,114 on Thursday and month to date, an average of 197,636 units at $1,025,508 compared with January that closed with an average of 265,804 units at $2,438,118.
JMMB 9.5% preference share led trading with 4.66 million shares for 40.5 percent of the day’s volume followed by Transjamaican Highway, with 2.93 million units for 25.5 percent of the day’s trade and Wigton Windfarm with 952,293 stock units for 8.3 percent market share.
The All Jamaican Composite Index advanced 1,152.06 points to close trading at 366,713.88, the JSE Main Index rose 256.53 points to end at 329,340.57 and the JSE Financial Index sank 0.12 points to end trading at 70.42.
The Main Market ended trading with an average PE Ratio of 13.7. 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 nine stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments dropped $1.10 in closing at $70.05, with 52,237 stock units crossing the exchange, Caribbean Cement popped 95 cents to $54.95 with investors transferring 404 shares, Caribbean Producers advanced 33 cents and ended at $8.78 in an exchange of 8,316 stocks. Eppley fell $4.10 to end at $34 after closing with an exchange of 249 units, First Rock Real Estate sank 30 cents to close at $8.70 after an exchange of 942 stocks, General Accident lost 42 cents to $4.78, with 4,376 units crossing the market. Guardian Holdings rose $2 to close at $369 after an exchange of 13 shares, Jamaica Producers rallied $2.29 in closing at $23.90 in trading 1,292 stock units, Kingston Properties declined 49 cents to end at $7.06, after 2,670 shares passed through the market. Kingston Wharves increased 34 cents and ended at $27.50 as investors exchanged 8,747 stock units, Massy Holdings climbed $1.80 to $94.85 in trading 2,228 stocks, Mayberry Group shed 45 cents to close at $7.50 in switching ownership of 29,556 units. 138 Student Living skidded 55 cents in closing at $3.61 with 1,253 shares clearing the market, Proven Investments dipped 99 cents to end at $22.01 with an exchange of 6,844 stock units, Salada Foods gained 32 cents and ended at $3.82, with 20,184 units changing hands. 
Scotia Group popped $5 to a 52 weeks’ high of $46, up 20 percent for the year to date after investors swapped 135,109 stocks, Seprod sank $1.99 to end at $87 after a transfer of 5,068 units, Stanley Motta gained 50 cents in closing at $7 with an exchange of 12,021 stock units. Sygnus Credit Investments rose 73 cents and ended at $11.74, with 175,069 shares crossing the market, Sygnus Real Estate Finance fell $1 to close at $10 in an exchange of 5,101 stock units and Wisynco Group climbed $1.87 to $22.97 with investors trading 10,992 shares.
In the preference segment, Jamaica Public Service 7% skidded $7.40 and ended at $41.90 with traders dealing in 51 units, 138 Student Living increased $3.50 to close at $214.50 with investors dealing in 22 stocks and Productive Business Solutions 9.75% preference share rallied $15.60 to end at $119.60 with a transfer of 5 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rises as falling stocks dominate
All 47 securities that were available to trade were active in the Junior Market on friday, up from 40 on Thursday, with trading ending with prices of 15 rising, 21 declining and 11 closing unchanged with trading closing with a 60 percent decline in the volume of stocks traded, with 66 percent less value than on Thursday.
Trading ended on Friday with 5,395,966 shares for $11,327,944 compared with 13,639,370 stock units for $32,995,315 on Thursday.
Trading averaged 114,808 shares at $241,020, compared with 340,984 units at $824,883 on Thursday with trading for the month to date averaging 218,797 units at $509,463 compared to January with an average of 175,081 units at $401,738.
One Great Studio led trading with 1.36 million shares for 25.2 percent of total volume followed by Lasco Distributors with 930,104 units for 17.2 percent of the day’s trade and ONE on ONE Educational with 639,673 units for 11.9 percent market share.
At the close of trading, the Junior Market Index popped 20.28 points to settle at 3,798.77.
The Junior Market ended trading with an average PE Ratio of 13.6, 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 three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Blue Power dipped 40 cents to close at $3, with 1,413 shares crossing the market, Cargo Handlers dropped $1.75 to $13.17 with an exchange of 957 stock units, Caribbean Assurance Brokers advanced 23 cents to $2.47 with an exchange of 22,951 shares. Consolidated Bakeries skidded 22 cents to close at $2 with investors swapping a mere 2,044 stock units, Derrimon Trading popped 22 cents to end at $2.08, with 15,750 shares crossing the exchange, Dolphin Cove climbed 80 cents to close at $19 with investors transferring 2,137 stocks. Elite Diagnostic rose 11 cents to close at $1.64 after 848 stocks crossed the market, Everything Fresh fell 12 cents in closing at $1.65 while exchanging 10,092 units, Fontana declined 10 cents to end at $10.40 with investors trading 7,265 stocks. Fosrich rallied 15 cents and ended at $2.25 with 276,639 units clearing the market, Future Energy increased 15 cents to $3.70 as investors exchanged 52,544 shares, ISP Finance gained $10.70 to close at $31 in switching ownership of 2,993 stock units. 
JFP Ltd shed 9 cents to end at $1.37 with traders dealing in 111,886 shares, Knutsford Express dropped $1.30 in closing at $11.10 in an exchange of just 1,192 stock units, Lasco Financial popped 17 cents and ended at $2.31 as 8,571 stock units passed through the market. Limners and Bards rallied 16 cents to $1.49 in an exchange of 23,903 units, Mailpac Group rose 11 cents and ended at $2.22, with 6,188 shares changing hands, Main Event sank 88 cents to close at $15.12 in trading a mere 80 stocks and Regency Petroleum climbed 13 cents in closing at $2.34 after an exchange of 42,530 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price changes for several JSE stocks
The Main Market of the Jamaica Stock Exchange slipped in trading on Friday and the Junior Market gained as the JSE USD market closed unchanged following a sharp reduction in the volume and value of stocks changing hands falling from the previous day andresulting in prices of 39 shares rose and 35, declined, with Scotia Group hitting new 52 weeks’ high in closing at $46 the largest Main Market rising stock.
At the close of trading on Friday, the JSE Combined Market Index climbed 418.12 points to close at 342,138.51, the All Jamaican Composite Index rallied 1,152.06 points to finish trading at 366,713.88, the JSE Main Index advanced 256.53 points to 329,340.57. The Junior Market Index rose 20.28 points to 3,798.77 and the JSE USD Market Index ended unchanged at 251.01.
At the close of trading, 17,913,688 shares were exchanged in all three markets, down from 24,848,411 units on Thursday, with the value of stocks traded on the Junior and Main markets amounts to $65.21 million, down from $94.99 million yesterday and the JSE USD market closed with an exchange of 1,000,615 shares for US$122,251 up from 393,307 units at US$18,728 on Thursday.
Main Market trading was led by JMMB 9.5% preference share with 4.66 million shares followed by Transjamaican Highway with 2.93 million units and Wigton Windfarm with 952,293 stock units.
In the Junior Market, One Great Studio led trading with 1.36 million shares followed by Lasco Distributors with 930,104 units and ONE on ONE Educational with 639,673 stock units.
At the close of the market, the major Main Market stocks that rose are Caribbean Cement popped 95 cents to $54.95, Guardian Holdings rose $2 to close at $369, Jamaica Producers rallied $2.29 in closing at $23.90, Massy Holdings climbed $1.80 to $94.85, Scotia Group popped $5 to $46 and Wisynco Group climbed $1.87 to $22.97.
The major declining Main Market stocks are Barita Investments dropped $1.10 in closing at $70.05, Eppley fell $4.10 to end at $34, Proven Investments dipped 99 cents to end at $22.01, Seprod sank $1.99 to end at $87 and Sygnus Real Estate Finance fell $1 to close at $10.
Stocks ending with major gains in the Junior Market are Dolphin Cove climbing 80 cents to $19 and ISP Finance gained $10.70 to close at $31, with the major losing stocks being Knutsford Express dropping $1.30 in closing at $11.10 and Main Event sinking 88 cents to close at $15.12.
In the preference segment, Jamaica Public Service 7% skidded $7.40 and ended at $41.90, 138 Student Living preference share increased $3.50 to close at $214.50 and Productive Business Solutions 9.75% preference share rallied $15.60 to end at $119.60.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21 on 2022-23 earnings and 14.3 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 navigate numerous investment options successfully in the 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.
