The Jamaican stock market, scaled new heights last week, helped by NCB Financial hitting a record high of $115, as supply of the stock being sold remains limited.
More buying came in for the stock on Friday and investors should be on the watch again as the price could go higher during the current week.
Grace Kennedy is another of the main market stocks to keep an eye on, as it slowly tries to move higher. Caribbean Cement moved back to $50, on Friday and could go further in this week as increased demand came in for the stock. It clearly one to watch but investors will need to determine if Friday’s move is a part of the usual month end window dressing. Kingston Wharves closed at $61.80 but traded as high as $65, supply remains low, thus favouring further price gains, even as the stock is carries by far the highest PE in the market. Watch for Scotia Group that should be releasing third quarter results, this week Thursday and Sygnus Credit Investments that posted full year results in line with expectations of US$1.4 million.
In the Junior market, Indies continue with strong demand existing for the stock, with news of potential acquisition and new products, the stock is worth watching for more gains. General Accident could move higher as more demand comes in for it with limited selling.
Caribbean Flavours seems to be following its parent, Derrimon Trading, continuing to rise with limited volume on sale currently. Medical Disposables, declined during the previous week, recovered last week and .should be moving higher going forward, continue to watch this one, as well as Derrimon Trading that has contracted to distribute products of a Trinidad producer.
Kingston Wharves jumped to close at $60 on Tuesday.
Stocks with scarce supplies that could spring surprises include Barita Investments, Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group. The main market is not the only segment with limited supplies. The Junior Market supplies continue to be limited for many of the listings. The list includes, Caribbean Flavours, Cargo Handlers, Derrimon Trading, Express Catering, General Accident, Caribbean Cream, Medical Disposables, Stationery and Office Supplies and tTech.
An overall view of stocks indicates that the main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below. The Junior Market now at a 15 months’ high, is being steered by an upward rising long-term support line and a golden cross. The golden cross is a very strong bullish long-term signal.
Both the Jamaica Stock Exchange, main and Junior markets reached higher levels during the past week, with the main market hitting a series of new record highs. The coming weeks should see more gains as investors seek out opportunities as fixed interest returns have tanked. 
The company is in the process of another acquisition, this time overseas, this should continue to help boost profit going forward. Fosrich posted good second quarter results and is on target to reach IC Insider.com’s forecasted earnings of 30 cents per share. Fosrich too, could be making an acquisition later this year, or early 2019, unofficial, but credible reports suggest. JMMB Group posted good first quarter results with a 59 percent increase in net profit. Some of the strong gains came from the relatively sharp fall in the value of the Jamaican dollar in the period that is not expected to continue.
Work done by IC Insider.com suggests that the PE ratio is likely to end 2018 around 16 to 18 times earnings, as investors continue to upgrade the multiple they are prepared to pay for stocks, which would lift prices sharply over the next several months from current levels. The latest government bond offer with a 4.58 years tenor, was heavily oversubscribed, resulting in rates dropping to 3.95 percent, suggesting that investors are satisfied that the economic policies will continue to lead to low inflation for a considerable time. These rates suggest more funds will be going into stocks as liquidity remains high in the financial system.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.
The Jamaica Stock Exchange climbed nearly 9,000 points at midday with the All Jamaican Composite Index surging 8,829.47 points to a 
The bulls have taken control of the Jamaica Stock Exchange, driving the main market to several new record highs during the past week with All Jamaica Index hitting more than 352,000 points last week Friday and jumping more than 6,000 points on Tuesday morning this week to more than 356,400 points and hitting a high of 363,496. 
Investors are slowly recognizing that to participate in a growing economy and rising profits that they have to pay more to buy the shares of the listed companies.
