Solid week of gains for JSE majors

Stocks enjoyed a solid week with a rise of three percent after the All Jamaican Composite Index surged 14,114 points since last Friday and the market moved sharply up from the area of resistance around the 460,000 mark as the 4,215.85 points rise on Friday pushed the All Jamaican Composite Index to 473,387.69 on limited volume on the Jamaica Stock Exchange Main Market.
At the close, the JSE Main Index jumped 3,056.20 points to 437,322.11 and the JSE Financial Index gained 1.00 points to end at 109.15.
Trading ended on Friday with 56 securities versus 50 on Thursday, with 20 stocks rising, 28 declining and eight ending unchanged, with the volume and value of shares traded falling 59 percent and 81 percent lower than traded on Thursday, respectively.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.9 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 9,586,037 shares trading for $83,876,641 versus 23,420,303 units at $432,056,408 on Thursday. Wigton Windfarm led trading with 44.9 percent of total volume for 4.30 million shares, followed by Transjamaican Highway with 15.9 percent for 1.53 million units and Sagicor Select Financial Fund 10.9 percent, with 1.05 million units changing hands.
Trading averaged 171,179 units at $1,497,797, compared to 468,406 shares at $8,641,128 on Thursday. Trading month to date averages 258,696 units at $4,682,573, in contrast to 266,342 units at $4,960,806 on Thursday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has 14 stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments climbed 49 cents to $83.49 with 3,985 shares changing hands, Berger Paints fell $2.14 to $13.85 in transferring 23,784 shares, Caribbean Cement rallied $3.80 to $94 with 19,468 stocks crossing the exchange, Eppley Caribbean Property Fund dropped $5.94 to settle at $36.01 in exchanging 739 shares. Grace Kennedy slipped 50 cents to close at $99.46 after a transfer of 31,523 stock units, Guardian Holdings ended $4 lower at $745 with the swapping of 2,390 units, Jamaica Producers lost 45 cents in closing at $24 in switching ownership of 5,788 stocks. Jamaica Stock Exchange gained 24 cents to end at $17.25 with 1,603 units clearing the market, JMMB Group shed 5 cents in ending at $38.45 while exchanging 101,132 stocks, after trading at an intraday 52 weeks’ high of $38.85, Kingston Properties dived 93 cents to $10.07 in exchanging 233 stocks. Kingston Wharves climbed 89 cents to $46.50, with a transfer of 13,291 stock units, Margaritaville fell 65 cents to $14.10 after exchanging 58 stocks, Mayberry Jamaican Equities dropped $1.04 to $8.51 in trading 4,028 units, NCB Financial Group shed 99 cents at $147 with 74,276 shares changing hands, Palace Amusement dipped $5 to $1,165 after 139 stock units crossed the market. Pan Jam Investment shed 70 cents to close at $69 with the swapping of 1,164 stocks, Portland JSX advanced $2.38 to $9.50 in transferring 2,000 shares, Sagicor Group climbed $9.84 to finish at $63.50 with an exchange of 37,269 stock units. Sagicor Real Estate Fund shed 73 cents to close at $8.32 with the swapping of 25,410 shares, Salada Foods rose 45 cents to end at $8.50 in an exchange of 33,109 stocks, Seprod advanced $1.70 to close at $74 in trading 3,331 stock units. Supreme Ventures gained 28 cents to end at $21.08 with 251,994 shares changing hands and Sygnus Credit Investments gained 21 cents to close at $15 after an exchange of 49,877 stocks.
There was increased trading activity in the preference segment on Friday, with ten active stocks. At the close, JMMB Group 7.15% – 2028 gained 15 cents in ending at $3.05 with 1,660 stock units crossing the market. JMMB Group 7.35% – 2028 rose 13 cents to close at $3.20 in exchanging 22,500 stocks, Jamaica Public Service 9.5% climbed $10 to $1,700 with 17,548 shares crossing the market and 138 Student Living Preference shares spiked $1.03 to $7.91 after exchanging 500 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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