JSE Main Market pulls back, Juniors rise

The Jamaica Stock Exchange Main Market slipped back from the two day bounce as the Junior and JSE USD Markets popped higher, with the volume of stocks traded dropping compared with Wednesday but with a much higher value. As trading in the Junior Market dropped back from the level on Wednesday, while the Main Market volume dropped even as the value jumped.
At the close of Thursday’s trading, the JSE Combined Market Index slipped 326.84 points to close at 327534.33, while the All Jamaican Composite Index lost 930.59 points to conclude trading at 349,141.60, the JSE Main Index dropped 521.94 points to 313,565.25. The Junior Market Index rose 18.08 points to close trading at 3,820.10 and the JSE USD Market Index inched 0.33 points higher to 227.49.
Investors traded 11,392,608 shares in all three markets, compared to 18,249,810 stock units on Wednesday. The value of stocks traded jumped on the Junior and Main markets to $123.80 million, down from $70.16 million on Wednesday. The JSE USD market closed after 308,440 shares were traded for US$5,303, down from 443,134 units at US$59,410 on Wednesday.
In the preference segment, Jamaica Public Service 9.5% climbed $100 and ended at $2,900, JMMB Group 7% preference share increased 45 cents in closing at $2.45 and Productive Business Solutions 9.75% preference share popped $1 to end at $102.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22 on 2022-23 earnings and 11.6 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 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.