Junior Market IC TOP10 stocks experienced a great deal of volatility in the past week but Main Market stocks were very stable, with minor price changes and resulted in two charges to listings with Iron Rock Insurance replacing Lasco Financial in the Junior Market, while Key Insurance in the main market replaced Radio Jamaica.
During the week in the Junior Market, Caribbean Cream jumped 18 percent to $4.70, Elite Diagnostic climbed 8 percent to $5.84, Lasco Financial rose 7 percent to $2.95 and Lasco Distributors gained 5 percent to $3.10. Caribbean Assurance Brokers declined 15 percent to $2.30, CAC 2000 dropped 14 percent to $6.90, Access Financial dipped 9 percent to $20 while General Accident fell 7 percent to $5.05.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.4, while the Junior Market Top 10 PE is at 5.8 versus the market at 12.9, important indicators of the level of undervaluation of the ICTOP10 stocks.
The Junior Market is projected to rise by 251 percent and the Main Market TOP10 is projected to gain an average of 238 percent, by May 2023.
The Junior Market currently sells at an average PE around 13 but already there are 15 stocks or a third of the market, with PEs from 16 to 33 averaging 21. The top half of the market has an average PE of 18. This data shows how much potential gains reside in the top 10. The situation in the main market is very similar, with the 15 highest valued stocks priced at a PE of 15 to 84, averaging 25 and 21 excluding the highest valued one.
Currently, the Junior Market is slightly negative but is poised to move higher in the weeks ahead but the main market is under negative clouds that could send the market index lower as NCB Financial and other financial companies continue to trade with inadequate support.
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.
Investors exchanged 11,654,778 shares for $33,767,360 compared to 24,272,292 units at $95,687,158 on Thursday.
At the close, Access Financial shed $1.99 to end at $20 trading 2,391 shares, Blue Power fell 25 cents to $3.50 after an exchange of 17,146 stock units, Cargo Handlers popped 70 cents to $14.40 after 838 units changed hands. Dolla Financial climbed 14 cents to close at $3.44 with a transfer of 356,793 shares, Dolphin Cove lost 19 cents in ending at $15 with an exchange of 31,274 stock units, Express Catering rallied 10 cents to $5.55 with 75,300 stocks changing hands. Fontana dipped 49 cents to $9.01 in switching ownership of 370,028 shares, Fosrich declined 15 cents to close at $4 after exchanging 531,233 units, Future Energy Source rose 11 cents to end at $5.30 after a transfer of 709,748 shares. Honey Bun dropped 13 cents to $7.97 in exchanging 5,950 shares, iCreate increased 41 cents to $3.60 with investors transferring 635,501 stocks, Iron Rock Insurance lost 48 cents to choose at $2.80 after 50,299 stock units crossed the market. ISP Finance gained 87 cents to end at $23 while exchanging two stock units, KLE Group advanced 27 cents in closing at $2.07 as investors exchanged 50 units, Knutsford Express popped 25 cents to close at $7.25 in an exchange of 61 shares, Limners and Bards rallied 10 cents ending at $2.85, with 35,850 stocks crossing the market, Main Event fell 79 cents in closing at $7.71, with 14,677 stock units changing hands, MFS Capital Partners increased 16 cents to close at $3.35 in exchanging 71,332 shares. 
Paramount Trading climbed 13 cents to end at $1.94 with the swapping of 8,000 units, Stationery and Office Supplies shed 30 cents to $16.20, with 2,935 stocks clearing the market and Tropical Battery advanced 10 cents to close at $2.70 after an exchange of 984,115 units.
A total of 24,272,292 shares were exchanged for $95,687,158 compared to 17,626,075 units at $93,831,857 on Wednesday. Trading averaged 577,912 shares at $2,278,266 up from 409,909 shares at $2,182,136 on Wednesday, and month to date an average of 575,062 units at $1,952,071 compared to 574,790 units at $1,921,005 on the previous day, well above August that closed with an average of 407,186 units at $1,330,946.
At the close, Access Financial gained 99 cents in ending at $21.99 after trading 476 shares, AMG Packaging dipped 10 cents to $3.85 with a transfer of 235 units, Cargo Handlers fell 80 cents to $13.70 with investors transferring 603 stock units. Caribbean Assurance Brokers lost 43 cents to end at $2.26 after 7,749 stocks changed hands, EduFocal popped 19 cents in closing at $2.49 after exchanging 76,733 units, Everything Fresh dipped 10 cents to $1.80, with 107,339 stock units crossing the exchange. Fontana rose 29 cents to $9.50 in trading 29,547 stocks, Fosrich fell 15 cents to $4.15 after exchanging 1,806,311 shares, Future Energy Source increased 31 cents to end at $5.19 as investors exchanged 543,327 stock units. Honey Bun shed 75 cents in ending at $8.10, with 8,535 shares changing hands, iCreate dipped 41 cents in closing at $3.19 in an exchange of 1,853,645 units, Indies Pharma lost 12 cents after ending at $2.98 with a transfer of 12,762 stocks. ISP Finance advanced $2.38 to close at $22.13, with 12 shares crossing the market, Jamaican Teas declined 31 cents to $2.59, with 304,759 stocks crossing the market, Limners and Bards shed 14 cents to end at $2.75 in exchanging 29,112 units. 
Lumber Depot dropped 12 cents to $2.88 with the swapping of 563,435 stock units, Main Event rallied $1.01 to $8.50 with an exchange of 286,037 shares following the release of impressive nine months results, MFS Capital Partners fell 33 cents in closing at $3.19 in switching ownership of 352,974 stocks and Stationery and Office Supplies climbed 39 cents to $16.50 after clearing the market with 6,088 stock units.
Jamaican Teas led trading with 4.52 million shares for 25.6 percent of total volume, followed by Cargo Handlers with 3.30 million units for 18.7 percent of the day’s trade, iCreate closed with 2.17 million units for 12.3 percent of the market, ONE on ONE Educational had 1.89 million units for 10.7 percent market share and Fosrich with 1.08 million units for a 6.1 percent share.
At the close, AMG Packaging rallied 44 cents to close at $3.95 with the swapping of 360 shares, Cargo Handlers shed 10 cents in closing at $14.50 after trading 3,300,430 units, Caribbean Assurance Brokers increased 39 cents to $2.69, with 1,000 stocks crossing the market. Elite Diagnostic climbed 20 cents to $3.55 after a transfer of 380,207 stock units, Future Energy Source advanced 12 cents to end at $4.88, with 421,313 stock units crossing the exchange, General Accident lost 37 cents in closing at $5.03aim trading 13,771 stocks. iCreate dropped 39 cents to close at $3.60 as investors exchanged 2,173,117 shares, Iron Rock Insurance rose 18 cents to $3.28, with five units changing hands, Jamaican Tea popped 35 cents to $2.90 and closed with an exchange of 4,516,759 stock units. KLE Group declined 27 cents to end at $1.80 in switching ownership of 538 stocks, Knutsford Express gained 90 cents to end at $7 while exchanging 1,350 units, Lasco Financial fell 13 cents to $2.94 in exchanging 15,597 shares. Limners and Bards added 12 cents in closing at $2.89, with 40,299 units clearing the market, 
Lumber Depot advanced 12 cents to close at $3 with a transfer of 386,221 shares, Main Event rose $1.79 and ended at $7.49 after exchanging one stock unit. Medical Disposables dipped 15 cents to $5.85 in an exchange of 56,735 stocks and ONE on ONE Educational popped 13 cents to $2, 1,888,447 units crossing the market.
A total of 15,819,476 shares were exchanged for $44,484,518 down from 21,969,586 units at $68,081,567 on Monday. Trading averaged 359,534 shares at $1,011,012 compared to 467,438 units at $1,448,544 on Monday, with the month to date, averaging 592,604 units at $1,892,793 compared to 621,573 units at $2,002,392 on the preceding trading day. August closed with an average of 407,186 units at $1,330,946.
At the close, Access Financial advanced $1 in closing at $21 after switching ownership of 200 shares, AMG Packaging shed 44 cents to $3.51 as investors exchanged 22,523 units, CAC 2000 lost $1.10 to end at $6.90 in trading 177 stock units. Cargo Handlers fell 15 cents to $14.60 while exchanging 136 stocks, Caribbean Assurance Brokers declined 42 cents to close at $2.30 after a transfer of 110,999 stock units, Derrimon Trading dropped 12 cents to $2.15, with 651,014 shares crossing the market. EduFocal dipped 16 cents to close at $2.25 with an exchange of 1,907,768 stocks, Express Catering rose 15 cents in closing at $5.60 after trading 265,029 units, Fontana dipped 32 cents to end at $9.15, with 66,613 stock units changing hands. Honey Bun climbed 80 cents in ending at $8.80 and exchanging 82,287 shares, Iron Rock Insurance rallied 34 cents to close at $3.10 with investors transferring 77,703 units, KLE Group popped 27 cents to $2.07 with 500 stocks clearing the market. Knutsford Express shed $1.15 to close at a 52 weeks’ low of $6.10 after trading 10,857 stock units, Lasco Financial gained 32 cents in closing at $3.07 after exchanging 68,071 stocks, Limners and Bards dropped 14 cents to end at $2.77 after 7,140 units changed hands. 
Main Event increased 18 cents to $5.70 with a transfer of 3,565 shares, MFS Capital Partners advanced 45 cents to $3.60 in an exchange of 1,839,829 shares, Paramount Trading declined 14 cents in closing at $1.81, with 11,000 stocks crossing the market and Spur Tree Spices fell 14 cents to $3.60 with the swapping of 311,010 units.
A total of 21,969,586 shares were exchanged for $68,081,567 up from 20,063,473 units at $56,261,266 on Friday.
At the close, Access Financial dipped $2 to $20 after exchanging 37,838 shares, Cargo Handler popped 87 cents to $14.75 while exchanging 2,246 stocks, Caribbean Cream rose 67 cents to $4.67 in an exchange of 111 stock units. Consolidated Bakeries increased 25 cents to close at $2.25 with investors trading 57,276 units, Derrimon Trading rallied 7 cents to end at $2.27, with 72,644 units crossing the exchange, Dolla Financial declined 12 cents to $3.34 and closed after 1,296,994 shares changed hands, EduFocal climbed 13 cents to $2.41 in trading 423,199 stock units, Express Catering lost 27 cents after ending at $5.45 in exchanging 234,945 stocks, Fosrich advanced 15 cents in closing at $4.35 in trading 1,903,793 stocks. Indies Pharma gained 9 cents to end at $3.09 after exchanging 130,520 units, Jetcon Corporation rose 7 cents to close at $1.18 with the transfer of 3,067 stock units, KLE Group dropped 27 cents to $1.80, with 6,099 shares changing hands. Lumber Depot shed 10 cents to end at $2.90 with an exchange of 233,464 units,
Main Event fell 98 cents to $5.52, with 30,948 stocks crossing the market, Medical Disposables rallied 10 cents in ending at $5.95 after a transfer of 6,021 stock units and MFS Capital Partners declined 40 cents in ending at $3.15 with the swapping of 200,025 shares.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.5, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.9, an important indicator of the level of undervaluation of the ICTOP10. The Junior Market is projected to rise by 245 percent and the Main Market TOP10 is projected to gain an average of 238 percent each, by May 2023.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
Investors exchanged 45 securities versus 44 on Thursday, 12 rose, 19 declined and 14 closed unchanged.
At the close, Access Financial fell $2 to $22 with a transfer of 3,899 shares, CAC 2000 rallied 42 cents to $8, with 177 stock units crossing the market, Caribbean Cream lost 75 cents in closing at $4 after exchanging 3,369 units. Consolidated Bakeries gained 10 cents to end at $2, with 159,209 stocks crossing the market, Derrimon Trading lost 10 cents to close at $2.20 in exchanging 160,635 stocks, Dolla Financial dipped 19 cents in ending at $3.46 after trading 3,421,844 units. EduFocal shed 16 cents to close at $2.28 with an exchange of 267,255 shares, Express Catering advanced 12 cents in closing at $5.72 with the swapping of 53,649 stock units, Fosrich declined 19 cents to end at $4.20 after exchanging 1,963,718 stock units. General Accident rose 40 cents to $5.43 in an exchange of 967 shares, KLE Group rallied 54 cents to close at $2.07 in switching ownership of 12,867 units, Limners and Bards popped 17 cents in closing at $2.90 with investors transferring 46,806 stocks. 
Mailpac Group dipped 20 cents to end at $2.20 after a transfer of 23,124 shares, Medical Disposables fell 15 cents to $5.85, with 83,914 stock units changing hands and MFS Capital Partners climbed 70 cents ending at $3.55 in trading 1,424,321 units.
At the close, Access Financial shed $1.30 to $24 in trading 2,413 shares, Blue Power rallied 25 cents in closing at $3.75 after exchanging 13 stocks, Caribbean Cream lost 5 cents to end at $4.75 with the trading of six stock units. Consolidated Bakeries declined 30 cents ending at $1.90 after exchanging 27,199 units, Dolla Financial dropped 14 cents to close at $3.65 after a transfer of 3,425,801 stocks, EduFocal climbed 9 cents in closing at $2.44 in trading at 119,888 shares. Express Catering dipped 14 cents to close at $5.60 in switching ownership of 18,454 stock units, Fosrich fell 11 cents to $4.39, with 2,172,374 units clearing the market, Future Energy Source lost 5 cents to end at $4.85, with an exchange of 1,658,103 shares. GWest Corporation increased 7 cents in ending at $1.02 with investors transferring 71,099 stock units, KLE Group dropped 54 cents to end at $1.53 in trading 2,037 units, Lasco Distributors rose 12 cents to $2.95 in exchanging 41,362 stocks. Lasco Financial shed 5 cents to $2.75 with the swapping of 20,760 shares, Limners and Bards declined 10 cents to close at $2.73 with a transfer of 275,869 stocks, Medical Disposables gained 10 cents to end at $6 in an exchange of 7,227 units. 
MFS Capital Partners dipped 90 cents to $2.85 while exchanging 3,975,446 stock units and ONE on ONE Educational fell 10 cents to end at $1.90, with 11,346,788 stocks changing hands.
Investors exchanged 51,809,949 shares for $151,838,965 up from 45,397,558 units at $124,937,848 on Tuesday. Trading averaged 1,177,499 shares at $3,450,886 compared to 1,031,763 shares a $2,839,497 on Tuesday with month to date, averaging 699,633 units at $2,342,501 compared to 578,794 units at $2,062,220 on Tuesday the previous trading day. August closed with an average of 407,186 units at $1,330,946.
At the close, Access Financial advanced $4.30 to $25.30 trading 150,905 shares, Blue Power climbed 38 cents to $3.50 after a transfer of 88,211 units, CAC 2000 gained 69 cents to close at $7.58 after an exchange of 529 stock units. Cargo Handlers popped $1.38 to $13.88 as investors exchanged 51 stocks, Caribbean Cream rose 40 cents in closing at $4.80, after 59,215 stock units crossed the market, Dolla Financial rallied 24 cents to end at a record high of $3.79 in trading 2,393,247 shares. Dolphin Cove rallied 20 cents to $15.20with 129,736 units changing hands, Elite Diagnostic fell 13 cents in closing at $3.30 in an exchange of 120,277 stocks, Fontana popped 30 cents to close at $9.50 after exchanging 89,030 stocks. Fosrich fell 27 cents to $4.50 while exchanging 7,906,282 shares, Future Energy Source shed 10 cents to close at $4.90, with 1,337,506 stock units crossing the exchange, iCreate dropped 15 cents to $4 with an exchange of 919,995 units. Lasco Distributors dipped 24 cents to $2.83 with investors transferring 48,286 shares, Main Event declined 39 cents to end at $6.50 after trading 17,298 stock units, Medical Disposables dropped 10 cents in closing at $5.90 in exchanging 15,000 stocks. MFS Capital Partners declined 25 cents in closing at $3.75 with the swapping of 159,453 units, ONE on ONE Educational dropped 40 cents to close at $2, with 35,471,495 stock units clearing the market, Spur Tree Spices lost 15 cents to end at $3.75 with a transfer of 175,602 units. 
Stationery and Office Supplies fell 95 cents to $16.05, with 98,493 shares crossing the market and Tropical Battery rallied 11 cents to $2.60 in switching ownership of 615,659 stocks.
