Business: JSE Main Market Edges Close to J$1 trillion

The main market of the Jamaica Stock Exchange (JSE)  closed the week of June 9th with record highs.

Main Market activity resulted from trading in 34 stocks, of which 17 advanced, 12 declined and 5 traded firm. Market volume amounted to 30.4 million units valued at more than $753 billion.

JSE Junior Market activity resulted from trading in 35 stocks, of which 17 advanced, 14 declined and four traded firm. Market volume amounted to 19.4 million units valued at over $115.8 billion.

Last week's winners were Scotia Group trading at $52.99 and JMMB Group at $28, the two being major contributors to the market rise. Wisynco Group traded at $9.80 and accounted for the largest block of shares with 5.356 million units of the stock traded.

The last time the All Jamaican Index (the largest stocks on the market) ended at a record closing high of 332,501.11 points was last month, on May 4.

For those looking to pick winners, according to Jackson, “Focus should be placed on stocks with the lowest price-to-earnings (PE) ratios. Rising stock prices increase the PE and falling prices will tend to reduce the PE. The crude rule of thumb is that stocks with the lowest PE ratios are better buys for maximum appreciation with the reverse being true. While investors should be looking for low PE stocks to invest in, some of the best stocks to invest in are those with rising income and profit; they could probably be very good stocks to invest in for a longer period and ensure a greater chance of long-term gains.”