The Jamaica Stock Exchange climbed more than 5,000 points after 25 minutes of opening with the All Jamaican Composite Index surging to just under 9,000 points from big resistance point of 400,000.
By just 4 minutes after 10 am, the All Jamaican Composite Index surging 5,502.66 points to a record 391,34026 points and JSE Index surged 5,013.54 points to a record 356,555.23. The Junior Market rose 2.53 points to a record 3,405.01.
The rise in the main market is due to large movement in Jamaica Broilers that traded at a new record of $33, NCB Financial that traded at $121, PanJam Investment trading at $57 and Scotia Group trading at $62.
All Jamaica less than 9000 points from 400K
September 18, 2018 by
Carib Producers returns to IC TOP 10
September 16, 2018 by
Caribbean Producers back in TOP 10
Caribbean Producers climbed back into the Junior market IC TOP 10 stock listing but there was no change to the main market list. Main Event dropped out of the top list having recovered from a big price fall in the previous week.
Caribbean Producers recently released full year results that were slightly lower than the year before but with a 10 percent rise in revenues. A lower profit margin by 2 percent and an increase of 10 percent in administrative and selling expenses resulted in lower profit but forecast suggest that earnings for 2019 should be up strongly to around 65 Jamaican cents. The company will have to report new results to see the likely increased earnings start to show up in the stock price.
During the past week, the main market of the Jamaica Stock Exchange, racked up 5 consecutive days of record close on Friday and 11 record close in a row, while the Junior market closed the week for with two record close, for the first time since May 2017.
The gains in the two markets is driving the PE ratio of the market higher with the overall PE for the Junior Market rising from to 13 and the main market from 13.7 last week to 13.7 and 14 respectively, this week. Recent movement in the PE suggest that average PE for the market will end 2018 around 18 and 20 by the end of January as conditions continue to favour stocks as the preferred investment of choice along with real estate.
The PE ratio for Junior Market Top 10 stocks average 8.9 up from 8.7 last week, as the market continues to revalue the multiple higher. 
The latest valuation compares to an average PE for the overall market of 14.3, based on 2018 estimated earnings. The main market PE is now 8.8 and is the up from 8.5 last week, for the top stocks, compared to a market average of 14.6.
The TOP 10 stocks now trade at an average discount of 38 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 40 percent to the market.
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.
NCB pushes All Jamaica within touch of 380K
September 12, 2018 by
NCB stock jumped to $124 in early trading on Wednesday.
The main market of the Jamaica Stock Exchange traded at a new record territory on Wednesday morning a mere 3 minutes of opening passing and went on to yet a higher level at 5 minutes later while passing other records along the way to the recent high.
The All Jamaica Composite Index rose 3,015.46 points to 379,946.02 and the JSE Index gained 2,747.43 points to a record 346,173.52.
The Junior Market that slipped 33.18 points in earlier trading is now down just 4.45 to 3,364.67.
Sagicor Real Estate Fund traded the most share of just under 8.7 million units at $11.75. NCB Financial now trades at $122 with the bid at the last sale price.
All Jamaica trades at new intraday record
September 12, 2018 by
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The main market of the Jamaica Stock Exchange traded at a new record territory on Wednesday morning within 3 minutes of opening and went on to yet a higher level at 5 minutes later.
The Main market which has slipped back slightly since to be at 377,639.34 for the All Jamaica Composite Index for a gain over Tuesday’s close of 376,930.26. The All Jamaica Composite Index traded with a gain of 1,728.19 points to 378,658.45 and then went on to 378,793.40. The JSE Index rose 1,574.58 points to a record 345,000.67 and then went further to 345,123.62 for a total gain of 1,697.53.
The Junior Market Index slipped 33.18 points to 3,335.94 Derrimon Trading pulled back to $2.75 from $3 and Paramount Trading fell to $2.60 from $2.75 from the close on Tuesday.
NCB pushes All Jamaica to intraday record
September 11, 2018 by
NCB stock jumped to $120 in early trading on Tuesday.
At this stage of trading it is unclear exactly where the indices are as NCB opened at $199.01, just seconds after the market opened, but that trade was cancelled as it was outside the 30 percent range permitted by the Exchange in a day. At the time of writing, the records have the All Jamaica Composite Index up 5,408.08 points to 378,261.05. The JSE Index surged 4,927.37 points to a record 344,638.58. The price for NCB Financial used to compute the index is $120.65 but that is just over $1.65 too high, as such the main market indices is about 1,500 points overstated but that would still mean that the indices would be trading at new record territory beating the previous high of 375,307.08 reached last week.
The Junior Market that hit a new closing high on Monday has retreated by 21.92 points to 3,370.66.
All Jamaica jumps 9,684 points to new record
September 5, 2018 by
NCB stock jumped to a record $125 in early trading on Wednesday.
With just 40 minute after opening, the All Jamaica Composite Index jumped sharply by 9,684.42 points to a new record of 375,307.08, breaking the record of 372,546.73 reached within 40 minutes of the market’s opening. NCB Financial jumped to a record high of $125 to make a huge indent on the market. The JSE Index surged 8,823.60 points to a record 341,947.18, after it hit a high of 339,432.19 after the NCB jump.
The Junior Market added less than a point to 3,267.31 but Derrimon Trading that will trade x split with the approval of a 10 to 1 stock split is yet to trade.
All Jamaica jumps to 372,546 points
September 5, 2018 by
The main market of the Jamaica Stock Exchange climbed new shortly after trading opened on Wednesday, with the All Jamaican Composite Index surging over 366,792.29 points level but by after 13 minutes of trading it shot up 6,924.07 points to 372,546.73.
With less than a minute after opening the All Jamaica Composite Index rose 1,169.63 points to a new record of 365,792.29 within a minute of opening but that was before NCB Financial traded and jumped to a record high of $125. The JSE Index climbed 1,065.66 points to a record 334,189.24 initially and then to a higher high of 339,432.19 having added 6,308.61 after the NCB jump.
The Junior Market added less than a point to 3,267.31 but Derrimon Trading that will trade x split with the approval of a 10 to 1 stock split is yet to trade.
Rising stock prices dragging PEs higher
September 1, 2018 by
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.
At the same time, the Junior Market now trades at a 15 months’ high. The bullishness has also raised the PE ratio of the market higher since the start of July. The average PE for the overall Junior Market is now 13, based on 2018 estimated earnings. The main market PE, is now an average of 13.7. At the start of July, the PE ratios, were at 11 for the Junior Market and 13 for the main market. At the end of 2017, the average PEs were at 13.5 and 15 respectively, based on 2017 earnings.
The PE is the most used tool in valuing stocks. in order to compare the value of one stock versus another, as such paying attention to this most important measure is critical to success in the stock market. PE ratios are not static and will change as profit and interest rates change. Profit will drive a stock to an expected or accepted PE but interest rates will change PE depending on whether rates and rising or falling. For several years Jamaican became used to a PE of 10 being the norm. That was when interest rates were in the teens now that rates are down sharply from that level PE will rise but its taken quite some time for that to happen. 
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.
The attached chart suggests that the average PE ratio is likely to end 2018 around 16 TO 17 times earnings, as investors continue to gradually upgrade the multiple they are prepared to pay for stocks, which would lift prices sharply over the coming months, from current levels.
Treasury bill rates now under 2 percent and government 4 years bods clearing at 3.95 percent and with a chronic shortage of many of the stocks, continuing to put upward pressure on prices, the PE ratios will move higher, investors should be taking their cue from this development.
The movement of the markets PE to the range mentioned above would translate to and increase around 25 percent rise in the market for the rest of the year and would result in full year gains of 40 to 50 percent in main and Junior markets for the year.
All Jamaica jumps 6,070 points to record 356,437
August 28, 2018 by
The Jamaica Stock Exchange surged sharply in early trading on Tuesday, with the All Jamaican Composite Index jumping 6,070.62 to an intraday high 356,437.50, after just 17 minutes of trading.
At the same time, the JSE Index jumped 5,531.02 points to a record 324,754.83. Strong gains by Kingston Wharves that traded at $61 up from $53 when it traded previously, NCB Financial that rose by $1 and and Seprod that jumped from $45 to $50 were the main contributors to the gain.
The Junior Market index is showing a huge increase of 557.73 points to 3,797.07 is caused by Blue Power having split into 10 units with the adjusted price being $4.70 but trades were attempted at $47 thus distorting the index. Those trades will be cancelled at the close of the day.
All Jamaica index jumps to record 352,258 points
August 24, 2018 by
The All Jamaican Composite Index of the Jamaica Stock Exchange having cleared the 351,000 points mark after just 5 minutes of opening, with NCB Financial trading at $110 has now broken the 352,000 after 42 minutes of trading.
The All Jamaican Composite Index jumped 3,325.45 to a record 352,257.65 and the JSE Index climbed 3,029.87 points to 320,946.53 points while the Junior Market rose 50.08 to cut sharp fall on Thursday of more than 57 points and now sits at 3,227.22 points.
Apart from a sharp rise in the price of NCB shares, Grace Kennedy rose to $60, and JMMB Group climbed to $29. Kingston Wharves has a bid of $60 compared to a last price of $53 and could add quite a bit to the indices when it trades.
