Stocks rose at the close of trading on the Jamaica Stock Exchange Main Market on Wednesday, with trading in 64 securities compared with 62 on Tuesday and resulting in prices of 22 stocks rising, 19 declining and 23 ending unchanged after a 14 percent fall in the volume of stocks traded and valued 35 percent less than Tuesday’s low value.
The market closed after 8,771,865 shares were traded for $27,969,713 compared with 10,147,599 units at $42,871,556 on Tuesday.
Trading averaged 137,060 shares at $437,027 compared with 163,671 units at $691,477 on Tuesday. Trading month to date, averaged 1,520,802 units at $5,617,470 versus 1,766,120 units at $6,535,887 on the previous day and March with an average of 828,473 units at $2,341,254.
Wigton Windfarm led trading with 4.43 million shares for 50.5 percent of the total volume followed by Transjamaican Highway with 1.75 million units for 19.9 percent of the day’s trade and Sagicor Select Financial Fund with 663,546 stocks for 7.6 percent market share.
The All Jamaican Composite Index rallied 1,140.00 points to settle at 367,649.84, the JSE Main Index climbed 1,376.12 points to end at 328,139.31 and the JSE Financial Index rose 0.78 points to finish at 70.84.
The Main Market ended trading with an average PE Ratio of 13.3. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, AS Bryden gained 98 cents to close at $38.98 with traders dealing in 8 shares, Barita Investments slipped 70 cents to $73 after 2,800 stocks passed through the market, Caribbean Cement rose $3.80 to end at $59.80 after an exchange of 2,113 shares. Eppley lost $4 in closing at $36 in trading 6,286 stock units, Eppley Caribbean Property Fund climbed $3 to finish at $40 after just one share was exchanged, Jamaica Stock Exchange increased 34 cents and ended at $10.65 as investors traded 235,838 units. 
JMMB Group dropped 88 cents to close trading at $25.02 in swapping 8,178 stocks, Margaritaville rose $1.42 to close at $15.50 with investors trading 1,000 stock units, Mayberry Jamaican Equities advanced 85 cents to finish at $10.85 in an exchange of 38,031 shares. MPC Caribbean Clean Energy rallied $12.62 and ended at $94.86, with 100 units crossing the market, NCB Financial popped $2.05 to end at $66.70 after an exchange of 29,438 stocks, Proven Investments advanced 82 cents to close at $22.43 with a transfer of 544 stock units. Scotia Group rose $2 to $47, with 13,217 shares crossing the exchange and Supreme Ventures rallied 93 cents to end at $24.70 with investors dealing in 15,597 units.
In the preference segment, 138 Student Living preference share fell $2.03 in closing at $216, with 5 stocks crossing the market and Sygnus Credit Investments C10.5% increased $5 to finish at $106 with investors transferring 800 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunged on the JSE on Wednesday
Trading plunged to a low level on the Jamaica Stock Exchange on Wednesday as market interest rates continued to rise with the Bank of Jamaica CD rate averaging 11.9 percent at Wednesday’s auction, the highest since interest rates were reversed from the low levels in 2021.
At the close of the market, the Main and JSE USD markets closed higher but the Junior Market that rose in the morning session continued to decline after a small rise on Tuesday, with trading ended with the number of stocks changing hands falling, with the value of stocks traded jumping sharply over the previous trading day, resulting in prices of 33 shares rising and 33 declining.
At the close of trading, the JSE Combined Market Index climbed 1141.55 points to close at 340,587.82, the All Jamaican Composite Index climbed 1,140.00 points to close at 367,649.84, the JSE Main Index rallied 1,376.12 points to 328,139.31. The Junior Market Index fell 25.49 points to culminate at 3,734.49 and the JSE USD Market Index gained 4.38 points to conclude trading at 242.35.
At the close of trading, 11,106,203 shares were exchanged in all three markets, down from 14,166,946 units on Tuesday, with the value of stocks traded on the Junior and Main markets amounting to $33.36 million, well below the $51.59, million on the previous trading day and the JSE USD market closed with an exchange of 233,494 shares for US$6,425 compared to 325,197 units at US$9,274 on Tuesday.
In Main Market activity, Wigton Windfarm led trading with 4.43 million shares followed by Transjamaican Highway with 1.75 million stocks and Sagicor Select Financial Fund with 663,546 units.
In a low-keyed trading session on the Junior Market, Stationery and Office Supplies led trading with 251,673 shares followed by Fosrich with 228,475 units and Dolla Financial with 224,947 stock units.
In the preference segment, 138 Student Living preference share fell $2.03 in closing at $216 and Sygnus Credit Investments C10.5% increased $5 to finish at $106.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 19.9 on 2023-24 earnings and 13.7 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and 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 reported as a guide for investors to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable 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.
Plenty price movements on JSE Main Market
Price movements at the close of trading on the Jamaica Stock Exchange Main Market were very fluid on Tuesday, with prices of 24 stocks rising, 29 declining and nine ending unchanged, with trading in 62 securities compared with 61 on Monday, with the volume of stocks traded declining 16 percent and the value 17 percent lower than on Monday.
Trading ended with the market closed with only 10,147,599 shares trading for a mere $42,871,556 down from 12,150,226 units at $51,541,445 on Monday.
Trading averaged 163,671 shares at $691,477 compared to 199,184 units at $844,942 on Monday and well off the month to date, an average of 1,766,120 units at $6,535,887 and 2,098,400 units at $7,747,771 on the previous day and March with an average of 828,473 units at $2,341,254.
Transjamaican Highway led trading with 2.74 million shares for 27 percent of total volume followed by Wigton Windfarm with 2.15 million units for 21.2 percent of the day’s trade and JMMB 9.5% preference share with 1.24 million units for 12.3 percent of the day’s trade.
The All Jamaican Composite Index sank 788.09 points to close at 366,509.84, the JSE Main Index lost 992.90 points to finish at 326,763.19 and the JSE Financial Index lost 0.29 points to culminate at 70.06.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden declined 70 cents to close at $38 as investors exchanged 589 shares, Barita Investments gained 70 cents to land at $73.70 with a transfer of 838 shares, Caribbean Cement sank $2.50 to finish at $56 after an exchange of 29,949 units. Eppley skidded 38 cents and ended at $40 with investors trading 50 stocks, First Rock Real Estate rose $1.90 in closing at $9.90 in an exchange of 50 units, GraceKennedy climbed 82 cents to end at $73.97 with investors dealing in 132,516 shares. Guardian Holdings fell $10 to $360 in switching ownership of 60 stock units, Jamaica Broilers dropped 50 cents to close at $33 after an exchange of 14,338 stocks, Jamaica Producers shed $1.75 in closing at $21.80 with investors transferring 16,000 units. 
JMMB Group increased 90 cents to finish at $25.90, with 22,695 stocks crossing the market, Kingston Wharves popped $1.15 and ended at $30.40 in an exchange of 900 shares, Margaritaville lost $2.91 to end at $14.08 after investors ended the trading of 2,703 stock units. Mayberry Group advanced 40 cents in closing at $7.30 with an exchange of 15,840 shares, Mayberry Jamaican Equities dipped 85 cents to $10, with 28,300 units changing hands, NCB Financial slipped 35 cents to finish at $64.65 with traders dealing in 7,408 stocks. 138 Student Living rallied 47 cents and ended at $4.19 with 545 stock units clearing the market, Pan Jamaica increased $3.50 to end at $50 after a transfer of 1,491 shares, Proven Investments sank 82 cents to close at $21.61, with 49 stocks crossing the market. Scotia Group declined $2.20 to $45 in trading 23,733 units, Supreme Ventures shed 53 cents to finish at $23.77 after an exchange of 21,951 stock units and Wisynco Group lost 50 cents and ended at $20.50 after 221,780 shares passed through the market.
In the preference segment, Eppley 7.75% preference share skidded 50 cents in closing at $20 with 1,601 units being traded, Jamaica Public Service 9.5% popped $50 to end at $2,700 with investors swapping 9 stocks, 138 Student Living preference share gained 53 cents to close at $218.03, with 6 stock units crossing the market and Productive Business Solutions 10.5% preference share fell $10 to $1,100 with investors swapping 200 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main & USD Markets fall, Junior rise
Stocks declined on the Main and US dollar markets of the Jamaica Stock Exchange in trading on Tuesday but the Junior Market closed moderately higher as trading ended with the number of stocks changing hands falling, with the value of stocks traded declining compared with the previous trading day, resulting in prices of 37 shares rising and 37 declining.
At the close of trading, the JSE Combined Market Index declined by 847.36 points to close at 339,446.27, the All Jamaican Composite Index shed 788.09 points to end trading at 366,509.84, while the JSE Main Index dropped 992.90 points to 326,763.19. The Junior Market Index rallied 14.99 points to 3,759.98 and the JSE USD Market Index skidded 7.02 points to end trading at 237.97.
At the close of trading, 14,166,946 shares were exchanged in all three markets, down from 21,408,365 units on Monday, with the value of stocks traded on the Junior and Main markets amounted to $51.59 million, well below the $74.87 million on the previous trading day and the JSE USD market closed with an exchange of 325,197 shares for US$9,274 compared to 130,853 units at US$9,068 on Monday.
In Main Market activity, Transjamaican Highway led trading with 2.74 million shares followed by Wigton Windfarm with 2.15 million units and JMMB 9.5% preference share with 1.24 million stocks.
In the Junior Market, Spur Tree Spices led trading with 887,601 shares followed by Dolla Financial with 450,473 units and Derrimon Trading with 311,439 stocks.
In the preference segment, Jamaica Public Service 9.5% popped $50 to end at $2,700 and Productive Business Solutions 10.5% preference share fell $10 to $1,100.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 19.8 on 2023-24 earnings and 13.7 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and 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 reported as a guide for investors to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable 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.
JSE Main Market climbs on Monday
Trading dropped on the Jamaica Stock Exchange Main Market ended on Monday, with the volume of stocks changing hands declining 52 percent and the value 78 percent less than on Friday, with trading in 61 securities compared with 55 on Friday, with prices of 29 stocks rising, 22 declining and 10 ending unchanged.
The market closed with trading of 12,150,226 shares for $51,541,445 compared with 25,126,154 units at $233,060,092 on Friday.
Trading averaged 199,184 shares at $844,942 compared to 456,839 units at $4,237,456 on Friday and month to date, an average of 2,098,400 units at $7,747,771 down from 2,585,174 units at $9,516,984 on the previous day and March that closed with an average of 828,473 units at $2,341,254.
Transjamaican Highway led trading with 6.89 million shares for 56.7 percent of total volume followed by Wigton Windfarm with 1.38 million units for 11.4 percent of the day’s trade and Radio Jamaica with 691,900 units for 5.7 percent market share.
The All Jamaican Composite Index rallied 2,140.38 points to close at 367,297.93, the JSE Main Index gained 1,337.67 points to close at 327,756.09 and the JSE Financial Index declined 0.14 points to 70.35.
The Main Market ended trading with an average PE Ratio of 13.1 The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden dropped 30 cents to end at $38.70, with 4,015 shares crossing the market, Barita Investments gained $3 to close at $73 with investors dealing in 1,592 stocks, Caribbean Cement rose $2.50 to finish at $58.50 with 3,194 shares clearing the market. Caribbean Producers advanced 40 cents and ended at $9.40 after and exchange of 32,211 stock units, Eppley popped $3.38 in closing at $40.38 in trading 601 shares, Eppley Caribbean Property Fund sank $3 to close at $37 after an exchange of 15,101 stock units. First Rock Real Estate slipped $2 to $8 after trading of 30,391 units, GraceKennedy fell 75 cents in closing at $73.15, with 9,169 stocks changing hands, Guardian Holdings increased by $10 to end at $370 in an exchange of 567 units. Jamaica Broilers declined 49 cents and ended at $33.50, with 17,644 shares crossing the market, Jamaica Producers climbed $1.77 to finish at $23.55 as investors exchanged 298 stock units, Key Insurance rallied 35 cents to close at $2.57 in switching ownership of just 6 stocks. Margaritaville popped $1.01 to $16.99 after exchanging 160 units, Mayberry Group lost 47 cents in closing at $6.90 with investors trading 5,799 stocks, 
NCB Financial rallied 50 cents to close at $65, with 27,800 shares crossing the exchange. Pan Jamaica dipped $3.50 and ended at $46.50 with investors transferring 836 stock units, Portland JSX rose 35 cents to finish at $10.95 after one share passed through the market, Seprod climbed $4.59 to end at $83.40 with an exchange of 7,245 stock units. Supreme Ventures increased 50 cents to $24.30 in an exchange of 19,666 units, Sygnus Real Estate Finance advanced $2.59 and ended at $12.79 with investors swapping just one stock and Wisynco Group gained 49 cents in closing at $21 after a transfer of 119,521 shares.
In the preference segment, Jamaica Public Service 9.5% shed $50 to end at a 52 weeks’ low of $2650 with traders dealing in one stock and Sygnus Credit Investments C10.5% skidded $9 to close at $101 with a transfer of 500 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market rise Juniors fall
The JSE USD market inched higher at the close of the Jamaica Stock Exchange on Monday as the Main Market gained more than a thousand points but the Junior Market dropped for a third consecutive day, with fewer stocks changing hands, with the value traded falling sharply from that on the previous trading day, resulting in prices of 46 shares rising and 36 declining.
At the close of trading on Monday, the JSE Combined Market Index rallied 1,132.02 points to end at 340,293.63, the All Jamaican Composite Index rose 2,140.38 points to 367,297.93, the JSE Main Index rose 1,337.67 points to close at 327,756.09. The Junior Market Index sank 21.57 points to end the day at 3,744.99 and the JSE USD Market Index popped 0.96 points to settle at 244.99.
At the close of trading, 21,408,365 shares were exchanged in all three markets, down from 29,059,711 units on Friday, with the value of stocks traded on the Junior and Main markets with a value of $74.87 million, well off from $240.14, million on the previous trading day and the JSE USD market closed with an exchange of 130,853 shares for US$9,068 compared to 209,773 units at US$28,768 on Friday.
In Main Market activity, Transjamaican Highway led trading with 6.89 million shares followed by Wigton Windfarm with 1.38 million units and Radio Jamaica with 691,900 stocks.
In the Junior Market, Express Catering led trading with 3.61 million shares followed by ONE on ONE Educational with 1.63 million stock units and Fosrich with 1.02 million units.
In the preference segment Jamaica Public Service 9.5% dropped $50 to close at $2650 and Sygnus Credit Investments C10.5% declined $9 to finish at $101.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 19.8 on 2023-24 earnings and 13.6 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and 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 reported as a guide for investors to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable 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.
CPJ enters ICTOP10 Broilers out
With what has become the norm, the markets pulled back to start April from the pump-up end of month prices in March, resulting in varied outcomes for the ICTOP10 and ending with Jamaica Broilers falling from the Main Market TOP10 and Caribbean Producers entering at the number 9 spot.
There were no changes to the list of companies in the Junior Market TOP10 this past week.
Caribbean Producers is the primary supplier of foods and beverages to the growing tourist industry on the north coast of Jamaica and St Lucia, the company is also expanding its meat processing arm as well as retail areas in both countries. ICInsider.com’s projected EPS is $1.35 for the fiscal year to June 2024. With plans for long term growth in the local tourism sector, the company has a B base for growth for many years to come.
Jamaica Broilers although out of the TOP10, is undervalued and possesses good long term growth prospects as they constantly spend resources to expand or modernise the operation.
In Main Market activity this past week, General Accident jumped 16 percent to $6.15, a 52 weeks’ high, with buying interest in recent weeks, being very high and active supply in the market low, a recipe for higher prices ahead and Key Insurance lost 14 percent to end at $2.22.
The Junior Market closed the week with a 17 percent jump for Iron Rock Insurance to $2.51 while Consolidated Bakeries gained 8 percent to $2.19 but Jamaican Teas dropped 13 percent to $2.40 and Caribbean Cream lost 8 percent to land at $3.58 while Express Catering and Access Financial fell by 7 percent to $3.70 and $19.86 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.1 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 183 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 106, with an average of 30 and 27 excluding the highest PE ratios, and a PE of 24 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 and result 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.
Lasco companies out of ICTOP10
Shake up took place in the ICTOP10 with Lasco Manufacturing that closed up by 10 percent to $6.08 at the end of last week and Lasco Distributors that fell 7 percent to $4.25 and dropping out of the TOP10 following migration from the Junior to the Main Market last week Wednesday.
With the 2024 financial year ending in March, the two companies will see a bump in earnings for 2025 and likely put them in the ICTOP10 again. Since the switch in listing, the number of stocks offered for sale has declined sharply and so have the bids to buy.
Coming into the Junior Market listing are Consolidated Bakeries, while AMG Packaging returns after a weeks’ absence, with the price falling to $3.12 from $3.27, EPS for the Consolidated Bakeries is projected at 30 cents for 2024, pushing it into position 2. The company promised much with a good brand but has delivered inadequate returns since being listed in 2013, but the operations have been undergoing changes with more focus on higher margin products and less on the regular breads, that faces greater competition in the market. A review of the 2023 audited statements shows that cost jumped but this was mostly for big wage increases which should moderate in 2025. Investing in the company is not without risk but it should benefit from continued growth and improved employment in the local economy going forward that should result in revenues growing faster than cost.
There were no new listing in the Main Market, but 138 Student Living rose 10 percent to $4.19 and JMMB Group gained 6 percent to close trading last week at $26.50, while Palace Amusements shed 9 percent to $1.04 and General Accident fell 6 percent to $5.30.
The Junior Market closed last week in positive territory as Stationery & Office Supplies climbed 13 percent to $1.70 while, Jamaican Teas, ISP Finance and Lasco Manufacturing all gained 10 percent, Iron Rock Insurance dropped 15 percent to $2.14 and Lasco Distributors fell 7 percent to $4.25.
There were no changes to the list of companies in the Main Market TOP10 this past week.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.4 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 13.3.
The Main Market ICTOP10 is projected to gain an average of 270 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 178 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 are priced at a PE of 15 to 106, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 24 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 23, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 2024 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 and result 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.
JSE Main Market slips into April
Following the closure of trading for the long Easter weekend, the Jamaica Stock Exchange Main Market ended on Tuesday, with declining stocks overpowering winning two to one following a 25 percent fall in the volume of stocks traded declining with a 54 percent drop in value compared to Thursday, with trading in 62 securities compared with 60 on Thursday, with prices of 15 stocks rising, 29 declining and 18 ending unchanged as Radio Jamaica closed at a 52 weeks’ low of $1.20.
The market closed with 11,767,625 shares being traded for $77,270,952 compared with 15,645,101 units at $167,372,295 on Thursday.
Trading averaged 189,800 shares at $1,246,306 compared to 260,752 units at $2,789,538 on Thursday compared to March that closed with an average of 828,473 units at $2,341,254.
Wigton Windfarm led trading with 3.86 million shares for 32.8 percent of the overall volume followed by Transjamaican Highway with 3.42 million units for 29.1 percent of the day’s trade and General Accident with 1.0 million units for 8.5 percent of market share.
The All Jamaican Composite Index sank 1,084.66 points to close trading at 367,499.60, the JSE Main Index declined 135.73 points to settle at 327,662.97 and the JSE Financial Index rallied 0.13 points to 70.38.
The Main Market ended trading with an average PE Ratio of 13.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden jumped $3.50 and ended at $38.50 in an exchange of 150 stocks, Barita Investments lost $1.90 to close at $73 with investors swapping 13,978 units, Berger Paints popped 34 cents to end at $5.84 after 89 shares passed through the market. Caribbean Cement sank $2.70 in closing at $58.80 after an exchange of 3,851 stock units, Eppley rallied 45 cents to close at $34.66 in switching ownership of 472 shares, General Accident increased 35 cents to $5.65 after a transfer of 1,000,151 stock units. Guardian Holdings climbed $6 to close at $366, with 6,179 units changing hands, Jamaica Broilers declined 89 cents to $33.10 in an exchange of 76,126 units. Jamaica Producers fell 98 cents to end at $23 with investors dealing in 7,831 stocks, Jamaica Stock Exchange skidded 43 cents to $10.06, with 99,836 shares crossing the market, JMMB Group dropped $1.49 and ended at $25.01 in trading 150,970 stock units. Key Insurance shed 34 cents to close at $2.23 after an exchange of 3,568 shares, Kingston Properties dipped 40 cents in closing at $8 after 5,065 stock units passed through the market, 
Lasco Manufacturing sank 83 cents to end at $5.25 as investors traded 50,661 stocks. MPC Caribbean Clean Energy dropped $13.50 to $80 with an exchange of 1,532 units, NCB Financial lost $1.95 to end at $64 with investors trading 127,979 shares, Pan Jamaica gained $1 in closing at $50, with 2,572 units crossing the exchange. Seprod skidded 35 cents to close at $84.64 with investors transferring 3,811 stocks, Stanley Motta rose 46 cents and ended at $7.38 with 1,672 stock units clearing the market and Supreme Ventures fell $1.80 to $23 while exchanging 76,105 shares.
In the preference segment, Productive Business Solutions 10.5% preference share dropped $50.99 to end at $1,099.01 with a transfer of 12 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops & prices fall on Main Market
Trading slipped on the Jamaica Stock Exchange Main Market ended on Friday and pulled the Market indices with it after a 95 percent drop in the volume of stocks traded and an 87 percent fall in value compared with that on Thursday, with trading in 55 securities compared with 61 on Thursday and resulted in prices of 18 stocks rising, 23 declining and 14 ending unchanged.
The market closed with an exchange of 25,126,154 shares for $233,060,092, well down from 551,681,523 units at $1,798,734,217 on Thursday.
Trading averaged 456,839 shares at $4,237,456 compared to 9,043,959 units at $29,487,446 on Thursday and month to date, an average of 2,585,174 units at $9,516,984 compared with 3,224,837 units at $11,103,727 on the previous day and March that closed with an average of 828,473 units at $2,341,254.
Carreras led trading with 10.79 million shares for 43 percent of total volume followed by Wigton Windfarm with 5.19 million units for 20.7 percent of the day’s trade, JMMB 9.5% preference share chipped in with 3.01 million units for 12 percent market share, as JMMB Group 7.25% preference share due 2024 ended with 1.66 million units for 6.6 percent total shares traded and GraceKennedy with 1.31 million units for 5.2 percent of the overall volume.
The All Jamaican Composite Index slipped 2,067.87 points to conclude trading at 365,157.55, the JSE Main Index skidded 1,505.24 points to wrap up trading at 326,418.42 and the JSE Financial Index rallied 0.09 points to 70.49.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden gained $3.25 in closing at $39 with an exchange of 314 stock units, Barita Investments lost 63 cents to end at $70, with 8,596 shares crossing the market, Eppley shed $2.49 to end at $37 with a transfer of 302 units. Eppley Caribbean Property Fund rose $2.49 to close at $40 after investors ended trading just two stocks, Jamaica Broilers rallied $1.09 and ended at $33.99 in an exchange of 5,449 shares, Jamaica Producers fell $2.52 to finish at $21.78 with 31,288 stock units clearing the market. Key Insurance dipped 35 cents and ended at $2.22 in trading 552 stocks, Kingston Wharves sank 75 cents to $29.25, with 3,427 units crossing the market, Mayberry Group increased 45 cents to close at $7.37 in an exchange of 1,721 shares. 
NCB Financial skidded 50 cents to end at $64.50 with investors transferring 3,769 units, Scotia Group climbed 35 cents in closing at $47.05 in switching ownership of 193,476 stocks, Seprod shed $4.59 to finish at $78.81 and closed with an exchange of 2,012 stock units. Stanley Motta declined $1.07 to $6.03 after 3,605 shares passed through the market, Supreme Ventures popped 30 cents to finish at $23.80 after an exchange of 28,854 stock units and Wisynco Group dropped 51 cents and ended at $20.51 with investors trading 261,544 stocks.
In the preference segment, Jamaica Public Service 7% advanced $5 to end at $48 with 15 units crossing the exchange and Productive Business Solutions 9.75% preference share fell $9.92 in closing at $95.08 with traders dealing in 920 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
