The Main Market enjoyed big gains this past week with a wide gap between its best and worst performers with financial and investment-related names dominated the market.
The financial services stocks with standout performances include Barita Investments, Mayberry Group, Sagicor Real Estate X Fund, Sagicor Select Funds, First Rock Real Estate, Scotia Group, QWI Investments, Sygnus Real Estate Finance and VM Investments, all among the biggest movers, which points to increased interest in that part of the market.
ICInsider.com projects Berger Paints Jamaica as the top Main Market performer over the next twelve months, with a forecast gain of 655 percent. Margaritaville (Turks) follows at 572 percent, then Sygnus Investments at 485 percent and JMMB Group at 446 percent. QWI Investments is projected to gain 371 percent, Jamaica Broilers Group 367 percent, and 138 Student Living Jamaica 269 percent. The Palace Amusement Company is forecast at 264 percent, Lasco Distributors at 206 percent, and General Accident Insurance at 186 percent.
Comparing the ICTOP10 forecast with this week’s trading presents a mixed picture. QWI Investments is the only forecast name that also appeared among this week’s winners. Recent momentum supports its outlook. Four forecast names were among the week’s losers. Berger Paints Jamaica fell 7.67 percent, JMMB Group dropped 11.81 percent, Palace Amusement Company declined by 6.78 percent, and General Accident Insurance 18.89 percent.
If ICInsider.com’s projections hold, the week’s weakness would look like a pullback rather than a change of trend. The remaining five forecast names did not appear on either movers list.
At the close of the past week, Pulse Investments led all gainers with a surge of 81.25 percent. VM Investments was second spot, up 21.95 percent, followed by Scotia Group at 20.6 percent and follows the decision of the parent company to lift the offer price for the minority holdings to $75 per share. Sagicor Real Estate X Fund advanced 17.65 percent and Barita Investments rose 16.33 percent. Sagicor Select Funds gained 16.22 percent, GraceKennedy climbed 14.11 percent, the highest point in more than a year and QWI Investments rose 13.33 percent, with the net asset value at the end the September quarter at $1.45 up from $1.29 in the previous year, Supreme Ventures increased 10.59 percent and Mayberry Group rounded out the top ten with a gain of 9.62 percent.
On the downside, A.S. Bryden was the weakest performer, declining by 22.13 percent. General Accident Insurance declined 18.89 percent and First Rock Real Estate lost 15.06 percent. JMMB Group shed 11.81 percent, and Sygnus Real Estate Finance slipped by 7.97 percent. Berger Paints eased 7.67 percent, Palace Amusement fell 6.78 percent, Sterling Investments declined 6.63 percent. Jamaica Producers shed 5.59 percent and Transjamaican Highway lost 5.54 percent.
Comparing the forecast with the past week’s trading gives a mixed picture. QWI Investments is the only forecast name that also appeared among this week’s winners, so recent momentum supports its outlook. Four forecast names were among the week’s losers. Berger Paints Jamaica fell 7.67 percent, JMMB Group dropped 11.81 percent, Palace Amusement declined 6.78 percent, and General Accident Insurance 18.89 percent.