Jamaica’s top financial corporation, NCB Group is now in the All JSE ICTOP10 with another financial institution, Key Insurance falling out, in a week that saw the number one stock in the market, NCB’s subsidiary dropping on Friday to an intraday 52 weeks’ low of $270 as it also fell to a new 52 weeks’ low in Trinidad, with a PE of a mere 3.4 curent year’s earnings, providing a huge upside move when investors pounce eventually.
The All JSE TOP10 is compiled from all ordinary stocks listed on the Jamaica Stock Exchange with the highest potential to gain, based on projected 2024 earnings. This list is more exact than the Junior and Main Market TOP10 lists.
The markets had mixed fortunes during the week, with the Jamaica Stock Exchange Main Market index posting losses of 3,931 points, the All Jamaica Composite Index declined 2,476 points and the Junior Market slipped a mere 2.53 points. The moves resulted in prices of 6 stocks rising and 3 declining in the Main Market TOP10 while the Junior Market TOP10 had just 3 stocks rising and 5 declining.
ICTOP 10 Main Market listed Jamaica Broilers gained 7 percent for the week and dropped out of the TOP 10 with more room to run. The stock is in the news with several staff and directors buying. Historically, insider buying tends to be a very good indictor of price gains ahead for this stock but there is still selling in the $38 region with solid buying not currently visible in the order book.
Guardian Holdings continues to hold on to the number one buy position in all markets while Caribbean Assurance Brokers took over the Junior Market top spot from Elite Diagnostic.
In the Junior Market ICTOP10, Iron Rock Insurance rose an impressive 31 percent to close at a 52 weeks’ high of $4.80 and moved out of the TOP10. AMG Packaging gained 10 percent to $3.13 and tTech climbed 9 percent to $2.30. Caribbean Assurance Brokers fell 15 percent to $3.06,with very limited buying interest currently, Caribbean Cream shed 8 percent to close the week at an even more enticing price than last weeks’ $3.45 to end at $3.17 and Elite Diagnostic lost 4 percent to close at $2.30.
In the Main Market ICTOP10, Key Insurance recovered from last week’s 27 percent drop, to close at $2.53 for a 20 percent rise, General Accident dropped 13 percent last week and rose 18 percent this week, to end at $6.78, Jamaica Broilers rose 7 percent to $37.98, JMMB Group popped 5 percent to $22.78 and Berger Paints fell 5 percent to $8.
Iron Rock fell out of the Junior Market IC TOP10 and is replaced by Access Financial and Lasco Distributors returns to the JSE Main Market ICTOP 10, replacing Jamaica Broilers.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 14 and the Junior Market TOP10 sits at 6.6, just more than half of the market, with an average of 12.
The Main Market ICTOP10 is projected to gain an average of 294 percent by May 2025, based on 2024 forecasted earnings and provide better values than the Junior Market with the potential to achieve 215 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market have PEs between 15 to 108, with an average of 28 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 23 and a PE of 15 for half of the market with the highest values.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2025 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
The market closed with 7,336,905 shares trading for $89,342,295 ,up from 4,696,332 units valued at $82,080,955 on Thursday.
The Investor’s Choice bid-offer indicator closed with a fairly balanced position, with eight stocks endi9ng with bids higher than their last selling prices and six with lower offers.
Guardian Holdings rebounded with a rise of $14 to $315 after an exchange of 12,365 stocks, after the stock hit an intraday 52 weeks’ low of $270, Jamaica Broilers popped $2.68 in closing at $37.98 in trading 26,859 units and now seems poised to break away for the mid to low $30 price range, Jamaica Producers advanced 72 cents and ended at $20.75 after an exchange of 510 shares. JMMB Group climbed $1.57 to finish at $22.78 trading 29,072 stock units, Massy Holdings rose $2 to end at $77 with 6,874 units crossing the exchange, Sagicor Real Estate Fund fell 51 cents to close at $7.36 after a transfer of 115 stocks. Scotia Group slipped 75 cents to $44.40 with a solid volume of 487,496 shares crossing the market and Sygnus Real Estate Finance climbed 64 cents and ended at $10.65 as investors exchanged 54 stock units.
In the preference segment, Jamaica Public Service 7% increased $5.99 to finish at $45.99 with 112 stocks clearing the market.
The market closed with trading of 8,741,694 shares for $17,574,956 up from 3,458,781 units at $8,651,263 on Thursday. Trading averaged 198,675 shares at $399,431 compared with 84,361 units at $211,006 on Thursday with the month to date, averaging 159,167 units at $337,492 compared to 156,879 stock units at $333,906 on the previous day and September with an average of 419,421 units at $774,292.
The Junior Market ended trading with an average PE Ratio of 12, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending around August 2025.
Iron Rock Insurance popped 80 cents in closing at a 52 weeks; high of $4.80 with 67,100 stocks changing hands, JFP Ltd advanced 7 cents to end at 94 cents in an exchange of 158,867 shares, Knutsford Express gained $1.21 to close at $11.64 with 1,286 stock units crossing the market. Limners and Bards sank 8 cents to $1.36 with a transfer of 16,815 shares, Mailpac Group rose 10 cents in closing at $2.40 with 339,560 units crossing the exchange, Main Event advanced 38 cents to end at $11.20 after trading 1,814 stocks. Medical Disposables dipped 7 cents to finish at $1.83 with 275 stock units crossing the market, 
MFS Capital Partners sank 8 cents and ended at 68 cents with investors trading 126,475 shares and tTech popped 9 cents to close at $2.11 after 1,300 stocks passed through the market.
rket Index rallied 534.09 points to wrap up trading at 320,930.39, while the All Jamaican Composite Index fell 1,387.15 points to close at 355,021.18, the JSE Main Index climbed 619.24 points to settle at 307,959.14, the Junior Market Index shed 8.07 points to conclude trading at 3,686.41 and the JSE USD Market Index popped 0.86 points higher to end at 226.45.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons within a sector and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one time income or expense.
This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock. The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
The Main Market ended trading with an average PE Ratio of 14.1.The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Mayberry Group
In the preference segment, Jamaica Public Service 7% sank $5.99 to finish at $40 with 285 stocks clearing the market and Sygnus Credit Investments C10.5% declined 40 cents and ended at $104.60 with investors trading 1,017 units.
The market closed with trading of 3,458,781 shares for $8,651,263 compared with 3,575,600 units at $6,737,028 on Wednesday.
At the close of trading, the Junior Market Index
Dolphin Cove dropped 48 cents and ended at $20.50 closed after 127,693 shares changed hands, Everything Fresh sank 9 cents to finish at $2.40, with 5,539 stocks crossing the exchange. Express Catering rose 8 cents to $3.30 in switching ownership of 3,993 units, Jamaican Teas advanced 9 cents to finish at $2.36 with investors dealing in 16,186 stock units, Jetcon Corporation popped 11 cents and ended at $1.16 in an exchange of 1,709 shares. KLE Group skidded 23 cents to close at $1.09 with 121 stocks clearing the market, Limners and Bards gained 8 cents in closing at $1.44 with investors trading 97 units, Main Event lost 50 cents to end at $10.82 after an exchange of 17,210 stock units. Spur Tree Spices slipped 11 cents to $1.87 with a transfer of 63,585 shares and Tropical Battery rallied 16 cents to finish at $2.46 with trading of 27,702 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of trading the JSE Combined Market Index skidded 3,863.06 points to 320,396.3, the All Jamaican Composite Index rose 115.21 points to 356,408.33 but the JSE Main Index fell 4,183.75 points to end the day at 307,339.9, the Junior Market Index added 19.09 points to finish at 3,694.48 and the JSE USD Market Index rose 2.71 points to conclude trading at 225.59.
In Junior Market trading, Stationery and Office Supplies led trading with 1.01 million stocks followed by Omni Industries with 430,226 shares and One Great Studio with 327,803 units.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making. The chart should be used in making rational decisions when investing in stocks close to the average for the sector, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock. The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Guardian Holdings continues to hold on to the number one buy position in all markets and Elite Diagnostic the best in the Junior Market.
Image Plus fell out of the Junior Market IC TOP10 and was replaced by Express Catering. No stock moved in or out of the JSE Main Market ICTOP 10 this week. 
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market have PEs between 15 to 108, with an average of 28 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
The market closed with 11,422,541 shares trading for $58,122,200 compared with 10,864,715 units at $66,883,337 on Tuesday.
The Main Market ended trading with an average PE Ratio of 14.4. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Eppley Caribbean Property Fund rose $2.90 and ended at $41.90 with 47 stock units clearing the market, Guardian Holdings slipped $13.01 to close at $314.99 after a transfer of 5,902 shares, Jamaica Broilers advanced 99 cents to finish at $36.75 in switching ownership of 5,947 stocks. Jamaica Stock Exchange gained 53 cents to $10.64 as investors exchanged 6,809 units, JMMB Group rallied $1.85 to close at $22.90 in trading 15,819 stock units, Mayberry Group fell 79 cents and ended at $7.26 in an exchange of 51,174 shares. NCB Financial shed 41 cents to end at $52.99 after 20,137 stocks passed through the market, Sagicor Group increased $2 in closing at $39 with an exchange of 120 units and Seprod popped 80 cents to finish at $81.50 with 15,447 stock units changing hands.
In the preference segment, Jamaica Public Service 9.5% sank $210 to $2690 after an exchange of 1,133 shares and Sygnus Credit Investments C10.5% increased 40 cents in closing at $105 with investors dealing in 39 stock units.
The market closed with 3,575,600 shares being traded valued $6,737,028 compared with 5,522,042 stock units at $7,976,248 on Tuesday.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
Jetcon Corporation fell 11 cents in closing at $1.05 with investors swapping 6,104 stock units, KLE Group gained 12 cents to finish at $1.32 with an exchange of 20,022 units, Knutsford Express sank $1.18 to end at $10.45 trading 27,981 stocks. Limners and Bards dropped 12 cents in closing at $1.36 in an exchange of 5,098 units, Lumber Depot sank 8 cents to $2.70 with 30,150 stocks clearing the market, Mailpac Group slipped 10 cents to finish at $2.30 with investors trading 391,285 shares. Main Event popped 32 cents and ended at $11.32 after closing with 59 stock units changing hands, Medical Disposables declined 39 cents to end at $1.90 in an exchange of 163,007 shares, MFS Capital Partners skidded 10 cents to close at 70 cents with traders dealing in 188,683 units. 
Spur Tree Spices