Investors pumped 171 percent more money into the Jamaica Stock Exchange Main Market on Tuesday that led to an 85 percent rise in the volume of stocks traded compared with market activity on Monday, with an exchange of 55 securities compared to 58 on Monday, resulting in the prices of 30 rising, 16 declining and nine ending unchanged.
A total of 11,990,620 shares were traded for $247,055,940 compared with 6,493,255 units at $91,157,503 on Monday.
Trading averaged 218,011 shares at $4,491,926 up from 111,953 units at $1,571,681 on Monday and month to date, an average of 616,454 shares at $2,523,851 compared to 665,370 stock units at $2,282,234 on the previous day. November ended with an average of 202,406 units at $1,736,493.
Jamaica Broilers led trading with 5.27 million shares for 44 percent of total volume followed by Wigton Windfarm with 2.06 million units for 17.2 percent of the day’s trade and Transjamaican Highway with 931,496 units for 7.8 percent market share.
The All Jamaican Composite Index climbed 97.25 points to settle at 383,990.23, the JSE Main Index gained 363.48 points to close at 339,912.85 and the JSE Financial Index slipped 0.05 points to 81.14.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for the financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement advanced $3 to $60 after 253,905 shares were traded, Carreras fell 40 cents to $8.10 with 39,365 stock units crossing the exchange, First Rock Real Estate rose $1 to $13.50 after a transfer of 13,268 units. GraceKennedy shed $2.30 to end at $80 with the swapping of 147,559 stocks, Guardian Holdings climbed $15 to $550 in an exchange of 1,064 units, Jamaica Broilers added 30 cents to close at $30 with 5,270,974 shares traded after the stock hit a 52 week’s intraday high of $32, Jamaica Producers rallied $3 ending at $23 in switching ownership of 486,528 stock units.
Jamaica Stock Exchange shed $2.36 to $14.11 after 75,201 shares crossed the market, JMMB Group was marked down by $3.60 to $32.40 after an exchange of 67,244 stocks, Mayberry Investments popped 51 cents to end at $8.25 after a transfer of 10,422 units. NCB Financial declined $1.02 to $81.50 with 56,657 shares changing hands, 138 Student Living gained 80 cents to settle at $5.90 in trading 36,016 stocks, Palace Amusement jumped $201.27 to end at $821.27 with investors transferring 22 stock units after the company announced a meeting of directors to consider a stock split. PanJam Investment dropped $2.98 to finish at $52.02 in switching ownership of 22,316 stocks, Proven Investments gained 40 cents to end at $26 trading 18,515 stock units, Sagicor Group popped 50 cents in closing at $51 with the swapping of 1,410 units. Scotia Group lost 51 cents to end at $32.50 with 574,117 shares clearing the market, Stanley Motta gained 40 cents in closing at $4.90 after 20,040 stocks changed hands and Supreme Ventures fell $1 to $29 with the swapping of 119,067 units.
In the preference segment, Eppley 5% preference share dipped $1.45 to $21.03 as investors exchanged 89 shares, Eppley 7.50% preference share rose 66 cents to $7.26 after 151 stock units crossed the market and Productive Business Solutions 9.75% preference share rallied $12.21 to $120 in trading five shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Financials help push JSE Main Market Up
The Jamaica Stock Exchange Main Market indices bounded on Monday with the volume of stocks rising 124 percent and the value 234 percent greater than on Friday, from the trading in 58 securities up from 55 on Friday, with 17 rising, 25 declining and 16 ending unchanged.
A total of 6,493,255 shares were exchanged for $91,157,503 versus 2,890,999 units at $27,224,258 on Friday.
Trading averages 111,953 units at $1,571,681 up from 52,564 shares at $494,987 on Friday and month to date, an average of 665,307 units at $2,282,234 versus 747,673 units at $2,387,906 on the previous trading day. Trading in November ended with an average of 202,406 units at $1,736,493.
Transjamaican Highway led trading with 1.59 million shares for 24.6 percent of total volume, followed by 138 Student Living with 734,813 units for 11.3 percent of the day’s trade and JMMB Group with 628,013 units for 9.7 percent market share.
The All Jamaican Composite Index climbed 1,523.69 points to 383,892.98, the JSE Main Index rose 760.64 points to 339,549.37 and the JSE Financial Index popped 0.34 points to close at 81.19.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasts by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints gained 50 cents to end at $10.50 after an exchange of 333 shares, Eppley dropped $6.57 to close at $32.13 as investors exchanged 2,141 stock units, Eppley Caribbean Property Fund fell $1.25 to $42.75 with 12,150 units changing hands. First Rock Real Estate shed $1 to settle at $12.50 after a transfer of 2,745 stocks, Guardian Holdings dipped $5 to $535 with 1,503 units crossing the market, Jamaica Broilers rose $2.70 to $29.70 with the swapping of 198,232 stocks after the company posted second quarter results to October with a big surge in profits from continuing operations.
Jamaica Producers declined $1 to $20 with 280,655 stock units changing hands, Jamaica Stock Exchange rallied $1.47 to $16.47 after an exchange of 16,166 shares, JMMB Group advanced $4 to close at $36 after 628,013 stocks cleared the market. Kingston Wharves fell $1.64 to $30 after an exchange of 15,240 units, Margaritaville dropped $3.45 to $19.55 as 412 shares passed through the market, Mayberry Jamaican Equities gained 51 cents in ending at $13.51 with investors transferring 50,806 stock units. MPC Caribbean Clean Energy lost 50 cents to close at $83 with 20 stocks changing hands, NCB Financial advanced $1.02 to $82.52 in switching ownership of 5,440 shares, Proven Investments was marked down by $1.60 in closing at $25.60 with an exchange of 131,799 units. Sagicor Group popped 50 cents to finish at $50.50, trading 3,566 stock units, Scotia Group fell 49 cents in closing at $33.01 after crossing the exchange with 510,357 units, but before the release of full year results showing earnings of $3.75 per share.
Seprod declined $1 to $70 with a transfer of 1,622 stock units and Stanley Motta shed 90 cents to end at $4.50 in trading 978 shares.
In the preference segment, Eppley 5% preference share rose $1.45 to $22.48 with the swapping of 11 stocks and Productive Business Solutions 9.75% preference share declined $12.21 to $107.79 after an exchange of 100,003 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New ICTOP10 listings, JBG upgraded
While the Jamaica Stock Exchange Main Market recorded a modest decline during the past week, the Junior Market Index closed slightly higher, both markets enjoyed some sizable price movements for the ICTOP10 lists, while earnings for Jamaica broilers were upgraded to $6 from $4.50 following the release of exceptional second quarter profits, as a result, it is now the second most attractive stock on the Main Market.
Four Junior Market TOP10 stocks declined between 2 and 4 percent and five gained this past week, while the Main Market 10 had three rising and five declining.
Elite Diagnostic dropped 4 percent to $2.91 and so did Lasco Distributors, closing at $2.91. CAC2000 jumped 19 percent to $8.49, followed by Access Financial with a rise of 17 percent to $24.50, Lasco Manufacturing rose 7 percent to $4.20 and is worth watching o see if the recent selloff in the low $4 region has ended. Lasco Financial rose 6 percent to close at $2.90, while Dolphin Cove rose 5 percent to $14.18.
In the Main Market, Guardian Holdings led with a rise of 9 percent to $540, BergerPaints was next with an increase of 6 percent to $10, but Key Insurance slipped 5 percent to $3.50 and JMMB Group dipped 6 percent to $32.
Access Financial jumped to $24.90 and dropped out of the Junior Market TOP10 after re-entering last week, while Lasco Manufacturing, with the price closing higher, also slipped from the Junior Market TOP10. Medical Disposables returns to the list and so has General Accident. There were no new listing for the Main Market 10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.5, well below the market average of 14. At the same time, the Junior Market Top 10 PE sits at six versus the market at 11.9, an important indicator of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 237 percent and the Main Market TOP10, an average now of 280 percent, to May 2023.
The Junior Market has 13 stocks, 28 percent of the market, with PEs from 15 to 33, averaging 20.5 compared with the above average of the market. The top half of the market has an average PE of 17 and shows the extent of potential gains that lie ahead for the TOP 10 stocks. The situation in the Main Market is similar, with the 16 highest valued stocks priced at a PE of 15 to 105, with an average of 32 and 22.6 excluding the highest valued ones and 19 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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 are likely to deliver the best returns up to the end of May 2023 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.
Trading dives on JSE Main Market
The volume of stocks trading plunged sharply on the Jamaica Stock Exchange Main Market on Friday resulting in 99 percent fewer shares changing hands, with the value declining 95 percent from Thursday, after trading took place in 55 securities down from 58 previously and leading to 19 rising, 23 declining and 13 ending unchanged.
A total of 2,890,999 shares were exchanged for $27,224,258 down sharply from 246,792,291 units at $513,155,922 on Thursday.
Trading averaged 52,564 units at $494,987 compared with 4,255,040 shares at $8,847,516 on Thursday and month to date, an average of 747,673 units at $2,387,906 versus 861,796 units at $2,698,684 on the previous day. November closed with an average of 202,406 units at $1,736,493.
Pulse Investments led trading with 750,281 shares for 26 percent of total volume followed by Wigton Windfarm with 545,933 units for 18.9 percent of the day’s trade and Victoria Mutual Investments with 377,222 units for 13 percent market share.
The All Jamaican Composite Index dived 2,298.69 points to 382,369.29, the JSE Main Market Index dipped 1,613.21 points to 338,788.73 and the JSE Financial Index shed 1.10 points to end at 80.85.
The PE Ratio, a formula to ascertain appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than the last selling prices and one with a lower offer.
At the close, Caribbean Cement fell $2.90 in closing at $57 after 17,639 shares passed through the market, Eppley rose $1.70 to $38.70 with an exchange of 284 stock units, First Rock Real Estate popped $1 to end at $13.50 with the swapping of 26 stocks. Jamaica Broilers rallied 97 cents after ending at $27 in switching ownership of 4,693 units, 
Jamaica Producers declined $1.50 to $21 with investors transferring 238,069 stock units, JMMB Group shed $1.45 to end at $32 after trading 42,004 stocks. MPC Caribbean Clean Energy gained 50 cents to close at $83.50 with 723 shares clearing the market, NCB Financial lost 50 cents after ending at $81.50 in trading 16,397 units, Palace Amusement dipped $1 in closing at $620 in an exchange of 61 stock units. PanJam Investment declined $2.25 to $55 after a transfer of 83,516 units, Proven Investments lost 60 cents to end at $27.20 with a transfer of 512 shares, Sagicor Group advanced $2 to $50 with 25 stocks crossing the market. Seprod rose $1 to $71 trading 9,396 stock units, Supreme Ventures climbed $3.05 to close at $30 with 100,161 stocks changing hands.
In the preference segment, Eppley 7.50% preference share fell $1.17 to $6.60 in transferring 130 units and JMMB Group 7.25% preference share rallied 42 cents to $3.23 with the swapping of 1,541 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Radio Jamaica trade swells JSE Main Market
Radio Jamaica dominated trading on the Jamaica Stock Exchange Main Market on Thursday with 241 million shares as Joseph Matalon transferred shares previously held by him and entities under his control to ICD Investments, pushing the volume of stocks traded by 1,811 percent and the value by 897 percent above Wednesday’s out turn, after trading in 58 securities up from 54 on Wednesday, with 23 rising, 21 declining and 14 ending unchanged.
A total of 246,792,291 shares were traded for $513,155,922 compared to 12,913,414 units at $51,455,919 on Wednesday. Trading averaged 4,255,040 stock units at $8,847,516 versus 239,137 shares at $952,887 on Wednesday.
Trading month to date averaged 861,796 units at $2,698,684 up from 151,297 units at $1,411,203 on the previous day. November closed with an average of 202,406 stock units at $1,736,493.
Radio Jamaica led trading with 241.05 million shares for 97.7 percent of total volume followed by Wigton Windfarm with 3.10 million units for 1.3 percent of trading and Pulse Investments with 699,740 units for 0.3 percent market share.
The All Jamaican Composite Index lost 2,606.04 points to end at 384,667.98, the JSE Main Index fell 1,030.71 points to 340,401.94 and the JSE Financial Index shed 0.31 points to close at 81.95.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14 for the Main Market. The JSE Main and the USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than the last selling prices and two with lower offers.
At the close, Barita Investments dipped $4.07 to end at $90.90 trading 8,629 shares, Eppley was marked up by $4.83 to $37 after a transfer of 39 units, Eppley Caribbean Property Fund advanced $2 to $44 with an exchange of 651 stocks. First Rock Real Estate shed $1 in ending at $12.50 after a transfer of 10,022 stock units, GraceKennedy declined $2.99 in closing at $82 with 74,313 stocks changing hands, Guardian Holdings climbed $20 to $540 with the swapping of just one share. 
Jamaica Broilers shed $1.57 to close at $26.03 in an exchange of 44,823 stock units, Jamaica Producers rose $1.50 to settle at $22.50 in switching ownership of 885 units, Jamaica Stock Exchange fell $1.47 to $15 with 2,514 stock units clearing the market. JMMB Group popped $1.45 to end at $33.45 trading 12,437 stocks, Kingston Wharves jumped $1.69 to $31.69 with 145,284 shares passing through the market, NCB Financial rose $1.99 to $82 in switching ownership of 21,195 units. Sagicor Group dropped $3 to finish at $48 in exchanging 233,350 stocks, Scotia Group lost 50 cents to close at $33.50 after 9,645 stock units crossed the exchange and Supreme Ventures dipped $1.01 to $26.95 with 105,169 units changing hands.
In the preference segment, Eppley 5% preference share popped $1.91 in closing at $21.03 as investors exchanged 11 shares, Eppley 7.25% preference share jumped $2.98 to $19.99 in transferring 200 stocks and JMMB Group 7.25% preference share fell 50 cents to close at $2.81 in trading 351 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market records solid gains
Stocks bounced on the Main Market of the Jamaica Stock Exchange on Wednesday with the volume slipping moderately after the values passing through the market falling 59 percent compared with Tuesday, resulting in 54 securities trading compared to 58 on Tuesday and ending with 22 rising, 21 declining and 11 ending unchanged.
A total of 12,913,414 shares were exchanged for $51,455,919 versus 11,957,180 units at $124,947,760 on Tuesday.
Trading averaged 239,137 shares at $952,887 versus 206,158 shares at $2,154,272 on Tuesday. Trading for the month to date averages 151,297 shares at $1,411,203 compared with 130,026 units at $1,522,185 on the previous day. November closed with an average of 202,406 units at $1,736,493.
Wigton Windfarm led trading with 8.44 million shares for 65.4 percent of total volume followed by Transjamaican Highway with 1.02 million units for 7.9 percent of the day’s trade and JMMB Group 7.35% due 2028 with 797,953 units for 6.2 percent market share.
The All Jamaican Composite Index climbed 4,446.25 points to 387,274.02, 
the JSE Main Index rallied 3,125.71 points to 341,432.65 and the JSE Financial Index advanced 0.99 points to 82.26.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
The Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement gained $2 to end at $60 as investors exchanged 24,591 shares, Eppley Caribbean Property Fund dipped $2.89 to $42 and closed at 1,348 stock units, First Rock Real Estate rose $1 in closing at $13.50 as 11 stocks passed through the market. 
GraceKennedy climbed $1.09 to close at $84.99 in switching ownership of 84,938 units, Guardian Holdings rallied $27.90 ending at $520 with the swapping of 1,479 stocks, Jamaica Broilers advanced 70 cents to end at $27.60 with an exchange of 1,582 units. Jamaica Producers lost $1 ending at $21 with a transfer of 60,162 stock units, Jamaica Stock Exchange jumped $2.89 to close at $16.47 crossing the exchange 931 shares, JMMB Group shed $1 to $32 in an exchange of 130,363 shares. Margaritaville popped $4.35 in closing at $23 in an exchange of one stock unit, Mayberry Investments increased 70 cents to close at $8 trading 35,101 units, Mayberry Jamaican Equities declined 39 cents to $13 changing hands 1,700 stocks. NCB Financial fell $3.88 ending at $80.01 exchanging 21,730 stocks, PanJam Investment climbed 50 cents in closing at $57.50 crossing the market 31,357 stock units, 
Sagicor Real Estate Fund rallied $1.26 to end at $7.80 clearing the market with 9,953 units and Supreme Ventures advanced $1.01 in closing at $27.96 after exchanging 108,642 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market marked down
Falling stock prices were the dominant development on the Jamaica Stock Exchange Main Market on Tuesday following an 88 percent rise in the volume of stocks traded valued 154 percent higher than on Monday, and resulted in 58 securities trading down from 61 on Monday and ended with prices of 17 rising, 28 declining and 13 ending unchanged.
A total of 11,957,180 shares were traded for $124,947,760, up from 6,352,026 units at $49,169,596 on Monday.
Trading averaged 206,158 units at $2,154,272 compared with 104,132 shares at $806,059 on Monday and month to date, an average of 130,026 units at $1,522,185 compared to 103,264 units at $1,299,997 on the previous day. November closed with an average of 202,406 units at $1,736,493.
Jamaica Producers led trading with 3.73 million shares for 31.2 percent of total volume followed by Wigton Windfarm with 3.27 million units for 27.3 percent of the day’s trade, Sagicor Select Financial Fund with 1.57 million units for 13.1 percent of the market and Transjamaican Highway with 1.11 million units for 9.3 percent market share.
The All Jamaican Composite Index dropped 2,524.39 points to settle at 382,827.77, the JSE Main Index dived 1,994.02 points to 338,306.94 and the JSE Financial Index slipped 0.45 points to close at 81.27.
The PE Ratio a formula to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments popped $7 in closing at $95 with 21,007 shares crossing the exchange, Berger Paints advanced $1.90 to $10 after a transfer of 174 stocks, Caribbean Cement shed $1.30 after ending at $58 with an exchange of 1,401 units. Eppley climbed $3.17 to close at $32.17 with investors transferring 20 stock units, Eppley Caribbean Property Fund advanced $3.14 to $44.89 in switching ownership of 1,592 stocks, First Rock Real Estate fell $1.70 to $12.50 in exchanging 6,003 units. 
GraceKennedy rallied $1.78 to $83.90 after trading 13,081 stock units, Guardian Holdings dropped $32.90 to end at $492.10 with the swapping of 1,719 shares, Jamaica Broilers dipped 70 cents to $26.90 with 8,518 shares changing hands. Jamaica Producers declined $3.24 in closing at $22 after trading 3,734,778 stock units, Jamaica Stock Exchange shed $1.44 to settle at $13.58 after exchanging 45,309 units, Kingston Properties lost 90 cents to end at $6.25 in switching ownership of 5,500 stocks, Margaritaville dipped $4.35 to $18.65 with an exchange of 1,348 shares, NCB Financial gained $1.89 after ending at $83.89 in transferring 10,519 stock units, PanJam Investment lost 40 cents to close at $57 with 2,275 stocks clearing the market. Portland JSX rose $1.39 to $10.49 in switching ownership of 18 units, Sagicor Group fell $1.99 to $51.01 in exchanging 4,766 stock units, Sagicor Real Estate Fund shed $1.16 to end at $6.54 with the swapping of 9,690 shares. 
Scotia Group rallied 50 cents to close at $34.05 trading 45,443 units, Seprod lost 56 cents in ending at $69.99 after 7,767 stocks passed through the market.
In the preference segment, Eppley 7.75% preference share lost 50 cents to settle at $20 in trading 698 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on JSE Main Market
Trading declined on the Jamaica Stock Exchange Main Market on Monday with a modest decline in the volume of stocks traded, with 33 percent lower value than on Friday, after 61 securities were exchanged compared to 51 on Friday leading to 27 rising, 22 declining and 12 ending unchanged.
A total of 6,352,026 shares were traded for $49,169,596 down from 6,541,604 units at $73,470,799 on Friday.
Trading averaged 104,132 units at $806,059, versus 128,267 shares at $1,440,604 on Friday and month to date, an average of 103,264 units at $1,299,997, compared to 102,756 units at $1,589,711 on the previous trading day. November closed with an average of 202,406 units at $1,736,493.
Transjamaican Highway led trading with 2.61 million shares for 41 percent of total volume, followed by Sagicor Select Financial Fund, with 651,840 units for 10.3 percent of the day’s trade and Wigton Windfarm with 537,618 units for 8.5 percent market share.
The All Jamaican Composite Index dipped 1,730.75 points to 385,352.16, the JSE Main Index popped 147.08 points to 340,300.96 and the JSE Financial Index rose 0.26 points to settle at 81.72.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments rallied $2.50 to end at $88 with the swapping of 25,783 shares, Berger Paints declined $1.35 ending at a 52 weeks’ low of $8.10 in trading 5,122 units, Caribbean Cement popped $2.30 to $59.30 with 100,610 stock units crossing the exchange. 
Eppley dropped $9 to close at a 52 weeks’ low of $29 with an exchange of 5,455 stocks, Eppley Caribbean Property Fund shed $2.25 to end at $41.75 after trading 234 stocks, First Rock Real Estate popped $1.44 to end at $14.20 as investors exchanged 195 units. Guardian Holdings climbed $29.99 to $525 with a transfer of 143 stock units, Jamaica Broilers lost 40 cents in closing at $27.60 after a transfer of 1,409 shares, Jamaica Producers dipped $1.11 to $25.24 with 339,967 stocks changing hands. JMMB Group fell $1 to close at $33 in transferring 46,236 shares, Kingston Properties gained 65 cents to settle at $7.15 with 40,654 units crossing the market, Kingston Wharves dropped $1.85 to $30 in trading 39,058 stock units. Margaritaville advanced 44 cents to $23 in an exchange of 22 units, NCB Financial declined 95 cents to $82 with the swapping of 24,235 shares, Sagicor Group rose $2 to $53 after an exchange of 1,250 stock units. Scotia Group advanced 55 cents to $33.55 after 465,742 stocks passed through the market, Seprod rose $1.55 to $70.55 in an exchange of 4,994 stock units and Supreme Ventures dipped 94 cents to $27 in switching ownership of 4,078 shares.
In the preference segment, Eppley 5% preference share shed $3.37 in closing at $19.12 in switching ownership of 200 stocks, Eppley 7.75% preference share gained 50 cents to settle at $20.50 after a transfer of 200 units, 138 Student Living preference share surged $7.65 to $58.65 with 32 units clearing the market and Productive Business Solutions 9.75% preference share dropped $10 to close at $120 with investors transferring nine stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New ICTOP10 listing
The Jamaica Stock Main Market recorded gains to close out the past week on a positive note, the second week that this is happening but the Junior Market Index was flat for a second week, and both markets enjoyed some sizable price movements that are in ICTOP10 lists.
Access Financial that dropped out of the Junior Market TOP10 last week returns with the price at $21.31 replacing Medical Disposables after the latter rose 7 percent for the week to $5.33. There were no new listings for the Main Market 10.
Only two Junior Market TOP10 stocks declined this past week with the rest gaining. Elite Diagnostic dropped 13 percent to $3.04 and Lasco Financial fell 9 percent to close at $2.74. Paramount Trading jumped 14 percent to $1.95, followed by Iron Rock Insurance with a rise of 12 percent to $2.45.
The Main Market 10 had four rising stocks and five declining. 138 Student Living rose 14 percent to $5.20, Key Insurance was up 10 percent to $3.68 and Jamaica Broilers gained 4 percent to $28. Guardian Holdings fell 11 percent to $495, Berger Paints fell 6 percent to $9.45 and Radio Jamaica dipped 4 percent to $1.90.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.7, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.1, important indicators of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 242 percent and the Main Market TOP10 an average now of 271 percent, to May 2023.
The Junior Market has 13 stocks representing 28 percent of the market, with PEs from 15 to 34, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 17.5 and shows the extent of potential gains that lie ahead for the TOP 10 stocks. The situation in the Main Market is similar, with the 17 highest valued stocks priced at a PE of 15 to 88, with an average of 29.6 and 21.7 excluding the highest valued ones and 19 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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 are likely to deliver the best returns up to the end of May 2023 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.
Trading jumps on the JSE Main Market on Friday
The volume of stocks traded on the Jamaica Stock Exchange Main Market on Friday jumped 58. percent but with a 20 percent lower value than on Thursday, after the exchange of 51 securities down from 53 on Thursday, with 17 rising, 15 declining and 19 ending unchanged.
A total of only 6,541,604 shares were traded for $73,470,799 compared with 4,145,005 units at $91,859,137 on Thursday.
Trading averaged 128,267 shares at $1,440,604 versus 78,208 units at $1,733,191 on Thursday and month to date, an average of 102,756 units at $1,589,711. November ended with an average of 202,406 units at $1,736,565.
JMMB Group 7.5% was the lead trade for the day with 1.50 million shares for 23 percent of total volume followed by Transjamaican Highway with 1.06 million units for 16.2 percent of the day’s trade and Pulse Investments with 639,000 units for 9.8 percent market share.
The All Jamaican Composite Index fell 2,262.98 points to 387,082.91, the JSE Main Index dropped 1,596.95 points to close at 340,153.88 and the JSE Financial Index lost 0.53 points to end at 81.46.
The PE Ratio, a formula to ascertain appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, Barita Investments dipped $3.75 to $85.50 after trading 32,670 shares, 
Berger Paints shed 55 cents to close at $9.45 with 42,000 units changing hands, Caribbean Cement dropped $1 to end at $57 in switching owners of 510,980 stocks. Eppley Caribbean Property Fund advanced $2.60 to $44 with the swapping of 3,216 stock units, Jamaica Producers gained $1.85 to close at $26.35 with an exchange of 488,659 stock units, JMMB Group rallied $2 to $34 in trading 10,324 shares. Kingston Wharves climbed $4.14 to $31.85 with 2,368 units crossing the market, Mayberry Investments rose 52 cents in ending at $7.35 in exchanging 9,032 stocks, PanJam Investment advanced $1.40 to $57.40 with investors transferring 1,902 stock units. Portland JSX fell $1.50 to close at $9 after trading 5,000 units, Pulse Investmentspopped 40 cents to end at $3.05 with the swapping of 639,000 stocks, Sagicor Group lost $1.98 in closing at $51 in exchanging 53,740 shares. 
Scotia Group gained 85 cents to end at $33 in switching ownership of 16,736 units, Supreme Ventures rallied $1.93 to $27.94 with a transfer of 114,752 stocks and Sygnus Credit Investments was marked up by $1.40 to $12.90 trading 2,942 shares.
In the preference segment, Jamaica Public Service 9.5% jumped $40 to $3,000 with an exchange of 16 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
