Market activity was light on Monday with a 57 percent decline in the volume of stocks trading and 54 percent lower value than on Friday in a session when slightly fewer stocks rose than fell at the close of trading on the Trinidad and Tobago Stock Exchange.
Overall, 21 securities traded, up from 18 on Friday, with six rising, seven declining, with eight unchanged. The Composite Index rose 0.96 points to 1,455.16, the All T&T Index shed 1.67 points to end at 2,002.04 and the Cross-Listed Index rallied 0.53 points to close at 121.91.
Overall, 191,494 shares traded for $1,630,001 versus 443,568 units at $3,528,282 on Friday. An average of 9,119 traded at $77,619 compared to 24,643 shares at $196,016 on Friday and month to date averaging 36,574 units at $299,254 compared to 38,434 units at $314,267. The average trade for October was 23,649 units at $236,189.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s ended at $24.50 trading two shares, Clico Investment Fund declined 22 cents to $27.96 in swapping four stock units, First Citizens Group lost 10 cents to close at $57 trading 1,231 units. GraceKennedy popped 9 cents to $6.20 in switching ownership of 5,550 units, Guardian Holdings remained at $30.33 in an exchange of 7,902 stocks, Guardian Media at $3.15 trading 761 shares. JMMB Group ended at $2.26 as 13,953 stock units crossed the exchange, L.J. Williams B share rose 1 cent to $1.50 in exchanging 37,937 units, Massy Holdings fell $4 to close at $90 after 1,188 stock units changed hands. National Enterprises ended at $3.20 in exchanging 3,210 units, National Flour Mills popped 3 cents to $1.87 with 4,856 stocks clearing the market, NCB Financial Group finished at $8, with 69,300 shares changing hands. One Caribbean Media gained 5 cents to close at $4.40 with an exchange of 1,550 stocks, Point Lisas rallied 21 cents to $3.21 while exchanging 1,970 units, Prestige Holdings ended at $7.01 after exchanging 1,000 shares. Republic Financial Holdings rose $1 to $139 after 1,000 stock units crossed the market, Scotiabank dropped 26 cents to $66.74, with 27 stocks passing through the exchange, Trinidad & Tobago NGL shed 30 cents to end at $18.50, trading 12,050 units. Trinidad Cement declined 2 cents to $3.85, with 27,178 shares changing hands, Unilever Caribbean traded 25 stock units at $16.20 and West Indian Tobacco dropped $1.70 to end at a 52 weeks’ low of $28.20, with 800 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Archives for November 2021
Light trading on Trinidad Stock exchange
Two changes to ICTOP10 listings
The two major Jamaica Stock Exchange markets meandered all week, closing the past week with the Junior Market rising moderately and the Main Market recovering 5,228 points of the more than 12,000 lost on the last two trading days in the previous week as prices of Caribbean Cement, NCB Financial and Scotia Group rose.
Against the above backdrop, there were few changes to the ICTOP10 stocks at the week’s close. Scotia Group jumped 9 percent to end at $37.97 for the week and gave way to Carreras to return to the Main Market TOP10 after a long absence, with the price at $8.10 and projected earnings at 80 cents. The Junior Market lost Medical Disposables with the price closing at $6.72, up 29 percent for the week, allowing General Accident came in to replace it with the price at $6.60 and just edging out Fontana, with both having similar potential gains of 97 percent.
Big TOP10 movers for the week are AMG Packaging lost 6 percent in closing at $2.25 from $2.40 last week, Caribbean Cream fell 4 percent to $5.60, Elite Diagnostic dropped 8 percent to $3.20, Caribbean Assurance Brokers rose 6 percent to $2.47 and Dolphin Cove rose 3 percent to land at $12.90 after it a 52 weeks’ high of $14 on Thursday, new coronavirus making the news seemed to have induced selling on Friday. In the Main Market, Caribbean Producers jumped 15 percent to close at $10, up from $8.61 and Radio Jamaica gained 8 percent to $3.30.
The top three Main Market stocks are Guardian Holdings, Caribbean Producers and JMMB Group, projected to gain between 214 to 254 percent expected versus last weeks’ 212 to 283 percent.
The top three stocks in the Junior Market are AMG Packaging, followed by Caribbean Assurance Brokers and Access Financial Services. All three can gain between 150 and 211 percent, down from 154 percent and 207 percent previously.
There are many undervalued stocks in the market, with the average gains projected for the TOP 10 Junior Market stocks moved from 145 percent last week to 142percent and Main Market stocks moved from 163 percent to this week’s 159 percent.
The Junior Market closed the week with an average PE 14.5 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the March 2020 historical average of 17, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.4, with a 42 percent discount to that market’s average PE.
The Junior Market can gain 38 percent to March next year, based on an average PE of 20 and 17 percent based on an average PE of 17. Ten stocks representing 25 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 16.1, which is 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 50 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 25.5, suggesting that the accepted multiple could be around 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners; accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Declining stocks dominate on JSE USD market
Trading ended on Friday with the volume and the value of shares changing hands declining 21 percent respectively below Thursday’s trades, at the close of the Jamaica Stock Exchange US dollar market.
Trading ended with five securities changing hands, similar to Thursday, with one rising, four declining. The JSE US Denominated Equities Index gained 1.34 points to end at 196.55.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 12.1. The PE ratio uses earnings forecasts computed by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Overall, 515,741 shares traded for US$106,763 compared to 651,072 units at US$135,453 on Thursday. Trading averaged 103,148 units at US$21,353, compared to 130,214 shares at US$27,091 on Thursday and month to date averages 83,064 shares at US$11,383 versus 82,273 units at US$10,990 on Thursday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than their last selling prices and no stock with a lower offer.
At the close, First Rock Capital USD share shed 0.4 of a cent to close at 6.2 US cents in an exchange of 1,000 shares, Margaritaville fell 0.49 of one cent to end at 9 US cents after exchanging 64,038 stocks, Proven Investments dropped 0.49 of a cent in ending at 22.5 US cents, with 448,344 units crossing the exchange. Sygnus Credit Investments USD share declined 0.01of a cent to 12.99 US cents with the swapping of 34 stock units and Transjamaican Highway popped 0.05 of a cent in closing at 0.86 of one US cent in switching ownership of 2,325 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Robust rally for Trinidad stocks
More stocks traded on Friday after trading volume climbed 37 percent but with 47 percent lower value than on Thursday, at the close of the Trinidad and Tobago Stock Exchange as rising stocks beat out decliners and sent the two leading indices flying higher at the close.
At the close, 18 securities traded compared to 16 on Thursday, with five rising, four declining and nine ended unchanged.
The Composite Index rose 4.43 points to 1,454.20, the All T&T Index jumped 19.01 points to end at 2,003.71, to be up 13 percent for the year to date and the Cross-Listed Index fell1.57 points to settle at 121.38.
A total of 443,568 shares changed hands for $3,528,282 compared to 322,894 units at $6,621,537 on Thursday. An average of 24,643 units traded at $196,016 compared to 20,181 at $413,846 on Thursday and month to date averages 38,434 units at $314,267 versus 39,284 units at $321,556. The average trade for October amounts to 23,649 units at $236,189.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s traded three shares at $24.50, Angostura Holdings closed at $17.07, in exchanging 121 stocks, Ansa McAl traded 1,730 stock units at $60. Calypso Macro Investment Fund rose 5 cents to close at $16.60 with the swapping of 1,000 units, Clico Investment Fund gained 18 cents in closing at $28.18 in exchanging 22,260 units, First Citizens Group ended at $57.10, with 25 shares changing hands. FirstCaribbean International Bank dropped 35 cents to $6.15 with an exchange of 100 stock units, GraceKennedy declined 13 cents to close at $6.11 in switching ownership of 39,358 stocks, Guardian Holdings closed at $30.33 with 1,092 units crossing the market. JMMB Group finished trading 309,526 stocks at $2.26, Massy Holdings rallied $7 to close at $94 with 62 shares crossing the market, NCB Financial Group remained at $8 after 42,000 stock units cleared the market. One Caribbean Media fell 5 cents to end at $4.35 after trading 2,001 shares, Republic Financial Holdings ended unchanged at $138 with an exchange of 5,438 units, Scotiabank increased $4.48 to $67, with 4,332 stock units crossing the exchange. Trinidad & Tobago NGL lost 20 cents to end at $18.80 in an exchange of 1,050 stocks, Unilever Caribbean climbed 15 cents to $16.20 after exchanging 100 stocks and West Indian Tobacco finished unchanged at $29.90, with 13,370 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.