The strong start for Jamaican stocks faltered after interest rates on Treasury bills peaked in April, sending the market into reverse from then until year end. Regardless the Junior Market index posted a 16.3 percent gain for the year, but 62 percent of the stocks recorded gains in 2022.
The market peaked at a record high in early May, but it ended the year with 29 stocks with gains compared with 18 losers that fell from 4 percent to 54 percent, with ISP Finance being the worst performer, followed by a 45 percent fall in Mailpac and 40 percent for tTech, with five 2022 IPO stocks being in the TOP15. Fosrich bolted 312 percent for the year to be the leading stock on the overall JSE market in 2022.
The 2022 new listing, Spur Tree Spices, came in at number 2, an ICInsider.com 2022 TOP 15 selection, posted gains of 250 percent. 
MFS Partners, formerly SSL Venture Capital, came in at number three with 202 percent following the acquisition by a new majority owner and a new business model and Stationery and Office Supplies, an ICTOP15 pick, came in with gains of 145 percent after robust increases in revenues and profit for the year.
The Main Market declined at the end of the year, with the JSE Main Index down 10.2 percent after it struggled to rise a mere two percent by mid-May at its peak for the year.
Technical tools forecast likely market developments well ahead of when they do occur.
Junior Market performance was telegraphed from January 2022 by the attached technical chart showing trendlines pointing to a level to a likely high for 2022 beyond 3,800 points. The market index exceeded the upper end in February and remained there until July and pulled below it in the second half of the year ending up just below the lower level in the Middle of November with an initial public offering that drained resources from the secondary market.
Archives for January 2023
NCB Financial big TTSE loser in 2022
The past year was not great for stock markets worldwide as rising inflation and interest rates, coupled with the negative impact of the war in Ukraine on economic activity, diverted money away from stocks into bonds and other savings instruments as more investors sought safety from the volatility of stocks. 
The above combination took its toll on Jamaica’s largest commercial banking group, that fell the most in Trinidad Stock Exchange, even as Cinema One climbed nearly 100 percent.
Even bond markets did not provide a haven for investments, as many lost value as a result of the rising interest rates.
But even while that manifested, some stocks breached the trend and rose in value.
In the twin island state of Trinidad and Tobago, prices of 11 stocks rose, but 16 declined as the market index declined, with the composite market index falling 11 percent for the year, while the All TT index slipped a smaller 3.7 percent.
Leading the market was Cinema One, with a rise of 93 percent as the price recovered from the covid19 crushing in the prior year, followed by Agostini’s with a 52 percent rise and Angostura up 33 percent. 
The worst performer is Jamaica based NCB Financial Group, with a fall of 44 percent, followed by Jamaica’s GraceKennedy, down 27 percent and cigarette manufacturers West Indian Tobacco, with a decline of 44 percent as the company posted lower profits of $209 million in the nine months to September than it did in 2021, with $270 million with the third quarter falling to $56 million from $83 million in 2021 as sales fell from $200 million in the September quarter to $165 million in 2022 and $549 million for the nine months compared with $610 million in 2021.
