The Jamaica Stock Exchange Main Market index posted gains of 7,269 points and the All Jamaica Composite Index rose 10,305 points for the week with the Junior Market adding 114 points resulting in four stocks rising by 4 percent or more in the Main Market, with one decline of note. JMMB Group was the leading stock for the week, with a jump of 14 percent. In the Junior Market four stocks rose by 5 percent or more and one with a 4 percent fall.
While this week’s gains are noteworthy and may be partially due to more demand following the sharp cut in BOJ CD rates, they may also be influenced by month-end trading activities. Regardless the Junior Market closed 150 points higher and the All Jamaica index is 3,369 points higher than the August close and with one more day left for trading the gains could increase. Friday’s close for the Junior Market and the All Jamaica index is also higher than the close for July. These are trends worth watching as they conform with historical market moves.
In the Junior Market ICTOP10, Iron Rock Insurance rallied 10 percent during the week to $3.90, One Great Studio and Lasco Financial climbed 9% to 75 cents and $1.72 respectively and Lumber Deposit rose 5 percent to $2.90. Caribbean Assurance slipped 4 percent to close at $3.40.
In the Main Market ICTOP 10, JMMB Group jumped 14 percent to $23.99, Berger Paints popped 8 percent higher to $7.40, General Accident and Guardian Holdings rose 4 percent to close at $6.75 and $312 respectively. Key Insurance declined by 6 percent to $2.60. There were no other notable price changes in this market.
No new stock entered the IC TOP10 lists this week.
The All JSE TOP10 had no new listing but JJMB Group jumped from 4th spot last week to 6th this week with the stocks rising from $21.08 to $23.99. The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains, based on projected 2024 earnings. This list is more exacting than the Junior and Main Market TOP10 lists by themselves.
The average PE for the JSE Main Market ICTOP 10 stands at 5, well below the market average of 14.4 and the Junior Market TOP10 sits at 6.6, just more than half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 313 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 222 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 29 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 24 and a PE of 17 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.
In the Junior Market TOP10, 
The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains, based on projected 2024 earnings. This list is more exacting than the Junior and Main Market TOP10 lists.
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.
In the All JSE TOP10 tTech replaced Iron Rock Insurance following a sharp appreciation in the latter’s stock price. The All JSE TOP10 includes ten stocks that are listed on Jamaica Stock Exchange that have the highest potential gains, using projected 2024 earnings.
The Main Market ICTOP10 is projected to gain an average of 320 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 228 percent over the same period.
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.
In the Junior Market TOP10, Cargo Handlers rose 14 percent to $9.08, followed by Caribbean Cream with a gain of 13 percent to $3.45 and Elite Diagnostic gained 10 percent to close at $1.75 and sits at the top of the ICTOP10 list, with both stocks in the All JSE TOP10.
In the Main Market, Key Insurance rose 7 percent to end at $2.98. Guardian Holdings dropped 10 percent to $288 and heads both the IC Main Market TOP10 and the All JSE TOP10. JMMB Group declined by 7 percent to $20.73 and Berger Paints slipped 4 percent to $6.10, with limited buying interest currently.
In the Junior Market IC TOP10 are 7 stocks, 15 percent of the market, with PEs ranging from 15 to 22 and a PE of 17 for half of the market with the highest values.
In the Junior Market TOP10, Lumber Depot rose 8 percent to $2.95, followed by One Great Studio popping 7 percent to 79 cents, Stationery and Office Supplies gained 6 percent to $1.73, following spirited trading in the stock after they released half year results and AMG Packaging rose 5 percent to $2.75. The Caribbean Cream stock continued to be pressured by the delay in publishing quarterly results, promised for August 29 but not yet posted, has dropped 12 percent in closing at $3.05.
There were two changes to the Main Market and Junior Market TOP10 listings for the week, one in the Junior Market and the other in the Main Market. Entering the Junior Market TOP10 is Cargo Handlers with the price falling to $8, with Lumber Depot falling out. In the Main Market, Palace Amusement dropped out allowing VM Investments to return to the TOP10.
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 17 for half of the market with the highest values.
At the close of the week, the mercurial price mover that trades as Kremi (Caribbean Cream) with delayed quarterly results, climbed 13 percent in closing at $3.45. Investors could be missing out on bargain prices currently. The company’s November quarter revenues rose a solid 9.5 percent, followed by a further rise by 13 percent in the 2024 fourth quarter, compared to just 2.6 percent for the nine months to November last year, suggesting a big increase of revenues and profit for the current fiscal year. AMG Packaging fell 7 percent to $2.61.
The All JSE TOP10 includes ten stocks on the Jamaica Stock Exchange with the highest potential gains in the market currently, based on projected 2024 earnings. The chart now shows Pulse Investments and Elite Diagnostic entering the All JSE TOP10 list as Access Financial and Iron Rock Insurance dropped out.
In the Junior Market IC TOP10 are 7 stocks, or 15 percent of the market, with PEs ranging from 15 to 22.
Interest rates on
In the JSE Main Market ICTOP 10, VM Investments gained 20 percent to $3.34 and Jamaica Broilers gained just 4 percent to $35. Berger Paints fell 14 percent to $6.36 and Pulse Investments lost 4 percent to close at $1.53.
In the Junior Market IC TOP10 are 9 stocks, or 18 percent of the market, with PEs ranging from 15 to 22 and a PE of 16 for the upper half.
The market continues to decline for 2024 to date. This comes with tightness in the financial market in the country. The latest move by the central bank flowing from an unscheduled monetary policy meeting was the lowering of reserves of banks held at the central banks, from 14 percent to 10 percent of prescribed liabilities with effect from the reserve week beginning July 24, 2024. While the central bank kept their repo rate at 3.5 percent they indicate the Treasury bill rates have steadily declined by 27 basis points since February. At the last auction in July the average rates came out at 1.40 percent.
In Junior Market ICTOP10, Consolidated Barkeries rose 14 percent to close at $3.85, Caribbean Cream gained 13 percent to $3.75 and tTech rose 5 percent to $2.50 following a switch in ownership of the company. Access Financial fell 9 percent to $19.95 followed by One Great Studio, down 7 percent to 77 cents.
The Main Market ICTOP10 is projected to gain an average of 312 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 207 percent over the same period.
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.
In a week when the Junior Market fell 1.72 percent and the Main Market was down 0.97 percent the ICTOP10 stocks ended with declining stocks outnumbering those rising. JSE Main Market had two winners and three losers of note and just two winners and four losers of note in the Junior Market.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.4, just over half of the market, with an average of 12.4.
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.
