Trading activity rose sharply on the Jamaica Stock Exchange Junior Market on Friday, with the volume of stocks traded increasing 168 percent and the value climbing 93 percent higher than Thursday, but declining stocks beat out rising stocks by more than two to one.
A total of 42 securities traded similar to Thursday and ended with ten rising, 23 declining and nine closing unchanged.
At the close, the Junior Market Index rose 36.48 points to settle at 4,263.14.
The PE Ratio, a measure of computing appropriate stock values, averages 13.4. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between September this year and August 2023.
Overall, 18,614,187 shares traded for $60,183,004 versus 6,943,963 units at $31,114,240 on Thursday. Trading averaged 443,195 shares at $1,432,929 in contrast to 165,332 shares at $740,815 on Thursday with month to date, averaging 285,898 units at $1,010,645 compared to 204,336 units at $791,683 on the previous trading day. May closed with an average of 376,907 units at $1,638,631.
Jamaican Teas led trading with 15.47 million shares for 83.1 percent of total volume, followed by JFP Limited with 368,755 units for 2 percent of the day’s trade and Elite Diagnostic, 342,875 units for 1.8 percent market share.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and three with lower offers.
At the close, Access Financial shed 5 cents in closing at $21.80 after 21 shares were exchanged, AMG Packaging dropped 16 cents in ending at $3.51, with 6,643 units crossing the market, Blue Power gained 10 cents to close at $3.80 with the swapping of 667 stocks. CAC 2000 declined 39 cents to $7, with 5,000 stock units crossing the market, Caribbean Assurance Brokers fell 5 cents to end at $2.39 in an exchange of 61,885 shares, Caribbean Flavours lost 7 cents to close at $1.88, with an exchange of 109,959 stock units. Dolphin Cove shed 50 cents in closing at $16.50 after exchanging 121,049 stocks, Express Catering advanced 38 cents in ending at $5.99 with 1,500 units changing hands, Fontana fell 5 cents to end at $9.80 after exchanging 144,487 stocks. Fosrich lost 95 cents to close at $30, with 47,684 stock units clearing the market, Future Energy Source declined 18 cents to $6.05 in exchanging 241,603 shares, Honey Bun increased 70 cents in closing at $8.96 after trading 6,129 units. Indies Pharma dropped 15 cents to $3, with 36,801 stocks changing hands, Jamaican Teas shed 6 cents to close at $3.19, trading 15,472,600 units, Jetcon Corporation dropped 13 cents to end at $1.32, trading 24,007 stock units. 
Lasco Distributors popped 5 cents to $3.49 while exchanging 55,788 shares, Lasco Financial declined 8 cents in closing at $3.50 in switching ownership of 6,443 shares, Medical Disposables rallied 40 cents in ending at $7.85 after 24,822 stock units crossed the exchange. Paramount Trading lost 14 cents to end at $1.76, with 2,750 stocks clearing the market, Spur Tree Spices fell 5 cents to close at $3.90 after an exchange of 52,606 units, Stationery and Office Supplies climbed 22 cents to close at $12.30 in trading 3,047 shares and tTech fell 20 cents to $3.60 after exchanging 2,206 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior stocks slip on Thursday
Trading closed on the Jamaica Stock Exchange Junior Market on Thursday, with the volume of stocks traded declining 28 percent and the value 6 percent lower than on Wednesday and ended with rising stocks bettering those falling with the market index slipping mildly.
At the close of the market, 42 securities were traded versus 39 on Wednesday and ended with 18 rising, 14 declining and ten closing unchanged. The Junior Market Index lost 11.37 points to settle at 4,226.66.
The PE Ratio, a measure of computing appropriate stock values, averages 13.2. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between September this year and August 2023.
A total of 6,943,963 shares traded for $31,114,240 down from 9,607,258 units at 33,012,055 on Wednesday. Trading averaged 165,332 shares at $740,815, in contrast to 246,340 shares at $846,463 on Wednesday, with the month to date, averaging 204,336 units at $791,683. May closed with an average of 376,907 units at $1,638,631.
JFP Limited led trading with 2.02 million shares for 29.1 percent of total volume, followed by Jamaican Teas with 1.49 million units for 21.5 percent of the day’s trade and Spur Tree Spices with 577,493 units for 8.3 percent market share.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and three with lower offers.
At the close, AMG Packaging climbed 17 cents in closing at $3.67 with an exchange of 28,783 shares, Cargo Handlers rallied $1 to close at $12, with 85,940 stocks crossing the exchange, Caribbean Assurance Brokers rose 22 cents to end at $2.44 after investors cleared the market of just 1,601 stock units. Dolphin Cove fell 90 cents to $17 in switching ownership of 5,289 units, Everything Fresh gained 14 cents in ending at $1.47 after exchanging 9,137 stocks, Fosrich jumped $3.94 to close at $30.95 in trading 318,484 stock units. Honey Bun dropped 73 cents to end at $8.26 as investors exchanged 88,534 units, iCreate fell 35 cents to $2.90 in an exchange of 245,193 shares, KLE Group advanced 15 cents to $2.06 with 1,870 stock units changing hands. Knutsford Express declined 13 cents in closing at $8.50, trading 99 shares, Mailpac Group popped 11 cents in ending at $2.78 while exchanging 13,180 stocks, 
Main Event climbed 35 cents to close at $8.60, trading 29,000 units. Spur Tree Spices shed 10 cents in closing at $3.95 after exchanging 577,493 stocks, SSL Venture declined 19 cents to end at $1.66, with 40 stock units crossing the market and Stationery and Office Supplies advanced $1.08 to $12.08 with the swapping of 56,765 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More recovery for Junior Market
Trading closed on the Jamaica Stock Exchange Junior Market on Tuesday, with the volume of stocks traded rising 41 percent and the value 88 percent more than Monday as rising stocks outpaced those declining by nearly three to one.
A total of 43 securities trading versus 41 on Monday ending with 24 rising, nine declining and 10 closing unchanged, leading the Junior Market Index to climb 56.75 points and settle at 4,203.09.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.4. The PE ratios of Junior Market stocks incorporate earnings projected by ICInsider.com for companies with financial year that falls between September this year and August 2023.
Overall, 9,825,896 shares traded for $54,208,669 compared to 6,964,198 units at $28,803,554 on the Monday. Trading averaged 228,509 shares at $1,260,667 in contrast to 169,858 shares at $702,526 on Monday with month to date, averaging 376,907 units at $1,638,631 compared to 384,335 units at $1,657,551 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Knutsford Express led trading with 3.26 million shares for 33.2 percent of total volume, followed by Spur Tree Spices with 2.74 million units for 27.9 percent of the day’s trade and Future Energy Source with 515,082 units for 5.2 percent market share.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close of trading, AMG Packaging increased 18 cents to end at $3.68, with 2,308 shares crossing the exchange, CAC 2000 popped $1.09 in closing at $7.40, with 10 units crossing the market, Cargo Handlers rallied 10 cents to $11.70 in trading 1,000 stock units. Dolphin Cove rose 19 cents to $18.19 in switching ownership of 48,002 stocks, Everything Fresh advanced 13 cents to close at $1.35 after exchanging 55,263 stocks, Express Catering gained 31 cents to close at $5.93 with 5,500 units changing hands. Fosrich climbed $3.50 to end at $27 in exchanging 200,352 shares, iCreate increased 15 cents in ending at $3.35 with the swapping of 188,285 stock units, Indies Pharma advanced 15 cents in closing at $3.15 in an exchange of 442,845 stock units. Iron Rock Insurance popped 22 cents to $3.30 with 3,562 units clearing the market, Jetcon Corporation lost 11 cents to end at $1.39 with an exchange of 251,118 stocks, KLE Group dropped 49 cents to $1.91 after 36,128 shares crossed the market. 
Knutsford Express gained 20 cents in closing at $8, with 3,257,783 units changing hands, Lasco Distributors shed 28 cents to close at $3.17 while exchanging 4,988 stocks, Lasco Financial rose 18 cents to $3.48, trading 103,584 stock units. Stationery and Office Supplies rallied 20 cents to $10.80 after exchanging 13,343 shares and tTech declined 39 cents in closing at $3.50 in trading 5,217 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market recovery continues
The Junior Market Index continues to rebound from last week’s steep sell-off by climbing 26.29 points to close at 4,146.34 at the close of trading on Monday, with a 51 percent increase in the volume of stocks traded and the value rose 54 percent over trading on Friday.
A total of 41 securities traded up from 35 on Friday and ended with 15 rising, 18 declining and eight left unchanged.
The PE Ratio, a measure in computing stock values, averages 13. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
A total of, 6,964,198 shares traded amounting to $28,803,554, up from 4,622,684 units at $18,728,840 on Friday. Trading averaged 169,858 shares at $702,526 in contrast to 132,077 shares at $535,110 on Friday, with the month to date, averaging 384,335 units at $1,657,551 compared to 395,085 units at $1,705,419 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Caribbean Assurance Brokers led trading with 1.61 million shares for 23.1 percent of total volume, followed by Future Energy Source with 1.04 million units for 14.9 percent of the day’s trade and Spur Tree Spices with 474,166 units for 6.8 percent market share.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial climbed $1.87 to $21.87, with 451 shares crossing the market, Cargo Handlers advanced $1.60 in closing at $11.60 after exchanging just 500 stocks, Caribbean Cream declined 25 cents in ending at $4., with 10,891 units changing hands. Caribbean Flavours increased 25 cents to close at $1.97 with the swapping of 212,907 stock units, Dolphin Cove fell 20 cents to end at $18 in switching ownership of 37,212 stock units, Elite Diagnostic lost 20 cents to $3.40, trading 15,556 stocks. Everything Fresh shed 14 cents to $1.22, with 29,677 units clearing the market, Express Catering dropped 31 cents to end at $5.62 with 14,301 shares changing hands, Fosrich dropped 80 cents in closing at $23.50, with 216,823 stock units crossing the exchange. Future Energy Source gained 25 cents to close at $6.25 after exchanging 1,038,976 units, iCreate declined 30 cents in closing at $3.20 with an exchange of 41,181 shares, Indies Pharma lost 16 cents to end at $3 in an exchange of 20,017 stock units. Jetcon Corporation shed 10 cents to $1.50 while exchanging 31,329 shares, Knutsford Express rallied 10 cents to $7.80 after finishing trading 2,136 units, 
Lasco Manufacturing popped 16 cents to close at $5.27 after an exchange of 95,723 stocks, following the release of improved full year results. Lumber Depot fell 20 cents to end at $3.10 in trading 413,705 stock units, Main Event shed 19 cents after finishing at $8.20 in exchanging 54,232 stock units, Medical Disposables jumped $1.19 to $8.19 in trading 73,758 stocks. Paramount Trading rallied 15 cents in closing at $1.90 in an exchange of 650 shares, Spur Tree Spices advanced 25 cents to close at $3.95, with 474,166 units changing hands and tTech rose 40 cents in closing at $3.89 while exchanging 4,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Paramount Trading joins ICTOP10
Dolla Financial Services IPO was heavily oversubscribed, and it is unlikely that investors will be able to buy the stock in the secondary market at a price that would place it in the TOP10 after day two of listing. Accordingly, the stock has been moved to the sideline, but it seems set to reach the $3 region sometime after listing.
The shifting of Dolla Financial out of the TOP10 resulted in Paramount Trading entering the TOP10 with the price falling to $1.75 in a week that saw investors selling stocks to raise funds to get into the IPO issue.
The past week was volatile, with the Junior Market index dropping more than 330 points or 7.6 percent from the close of the previous week to Wednesday, as investors sought funds to go into the Dolla IPO. The selloff was visible from May 12 with a near 100 points fall on that day as there was talk in the market of the pending issue.
This week’s pullback of the market resulted in mostly declines in the TOP10 Junior Market stocks. Medical Disposables dropped 13 percent to $7, while Access Financial also dropped 13 percent to close at $20, Elite Diagnostic slipped 9 percent in closing at $3.60 and Lasco Financial dipped 7 percent to $3.30.
For the TOP10 Main Market stocks, Berger Paints fell 13 percent to $10.63; Radio Jamaica declined 11 percent to $2.55, VM Investments lost 7 percent, followed by QWI Investments down 6 percent to 85 cents. There were no meaningful gains.
During the week, General Accident reported first quarter results with profit due to shareholders of the parent company rising 36 percent to $49 million, Friday after trading, Lasco Distributors reported profit increasing 12 percent for the full year to $1 billion but the final quarter being up 35 percent to $241 million and Lasco Manufacturing rising 45 percent in the March quarter to $522 million and the full year up 24 percent to $1.7 billion.ICInsider.com upgraded earnings for Lasco Distributors to 50 cents from 45 cents, but the others remain as previously stated. All three stocks are trading below ten times 2022 earnings and therefore have huge potential to appreciate.
Results for Access Financial and Medical Disposables to March are awaited.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.4, while the Junior Market PE for the Top 10 sits at 5.9 versus the market at 13.1. The Junior Market TOP10 is projected to gain an average of 245 percent to May 2023 and the Main Market 241 percent.
Watch these stocks that sit just outside the TOP10 that investors should watch. They include Key Insurance, followed by Caribbean Producers and Scotia Group from the Main Market. In the Junior Market, Iron Rock Insurance, Dolphin Cove, Jetcon Corporation, Stationery and Office Supplies and Lasco Manufacturingreported strong fourth quarter results to March this year.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 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 emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
Junior Market bounce
Trading closed on the Jamaica Stock Exchange Junior Market Friday with the volume of stocks traded declining 22 percent after 37 percent less funds entered the market compared to trading on Thursday, leading the market index to gain just 15.96 points to 4,120.05, with fewer shares rising as falling.
Trading resulted in only 35 securities changing hands, down from 41 on Thursday and ended with 11 rising, 14 declining and ten closing unchanged.
The PE Ratio, a measure of computing appropriate stock values, averages 13.1. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023
A total of 4,622,684 shares were traded for $18,728,840, down from 5,929,550 units at $29,697,652 on Thursday. Trading averaged 132,077 shares at $535,110 compared to 144,623 shares at $724,333 on Thursday, with the month to date, averaging 395,085 units at $1,705,419 compared to 406,842 units at $1,757,732 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Future Energy Source led trading with 829,151 shares for 17.9 percent of the total volume, followed by JFP Limited with 587,666 units for 12.7 percent of the day’s trade and Tropical Battery with 456,605 units for 9.9 percent market share.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging dipped 10 cents to $3.50, trading 3,874 shares, CAC 2000 lost $1.09, in ending at $6.31, with 2,500 units changing hands, Caribbean Flavours declined 23 cents to close at $1.72 with the swapping of 9,068 stocks. Derrimon Trading shed 19 cents in closing at $3 with an exchange of 166,263 stock units, Elite Diagnostic fell 20 cents to end at $3.60, with 7,516 stock units crossing the market, Express Catering rose 43 cents to $5.93 in exchanging 14,791 units. Fontana increased 10 cents to end at $9.90 after finishing trading of 157,880 shares, Honey Bun climbed 20 cents to close at $9.20 in an exchange of 4,933 stocks, Indies Pharma rallied 16 cents to $3.16 with 89,947 stocks changing hands. 
Jetcon Corporation advanced 28 cents to $1.60 in exchanging 14,516 shares, Knutsford Express gained 20 cents to close at $7.70 after trading 2,537 units, Lasco Distributors shed 12 cents in closing at $3.37 after 17,692 stock units crossed the exchange. Main Event popped 19 cents ending at $8.39, with 11,900 units changing hands, Spur Tree Spices fell 10 cents to $3.70, with 283,924 stocks clearing the market and Stationery and Office Supplies dropped 40 cents to $10.60 while exchanging 4,950 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More big Junior Market fall as winners = losers
Trading ended with 44 securities changing hands on the Jamaica Stock Exchange Junior Market Wednesday, down from 45 on Tuesday, with stocks rising and declining, accounting for 19 each, with six closing unchanged, resulting in the Market Index dipping 2.56 percent compared to 5.52 percent on Tuesday, with a 102.39 points dive to 4,027.35 and cutting the year to date gains from 33.7 percent to May 9th down to 17.5 percent.
The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
The market closed, with the volume of stocks traded dropping 49 percent and the value falling 47 percent from Tuesday, with 12,355,521 shares traded for $52,828,520, down from 24,253,233 units at $99,156,469 on Tuesday. Trading averaged 280,807 shares at $1,200,648 in contrast to 538,961 shares at $2,203,477 on Tuesday with the month to date, averaging 421,331 units at $1,814,834 compared to 430,189 units at $1,853,550 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
JFP Limited led trading with 1.40 million shares for 11.3 percent of total volume, followed by Mailpac Group with 1.21 million units for 9.8 percent of the day’s trade and Spur Tree Spices, 874,669 units for 7.1 percent market share.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of trading, Access Financial shed 91 cents to $20 in exchanging 23,441 shares, Cargo Handlers rose $1.30 to $11.70 in switching ownership of 20,216 units, Consolidated Bakeries gained 10 cents to close at $1.30 with an exchange of 89 stocks. Derrimon Trading lost 10 cents to $2.80 in exchanging 413,498 stock units, Dolphin Cove dropped 66 cents to $16.32 after trading 65,728 stocks, EduFocal rallied 24 cents to close at $2.99 trading 801,269 units. Elite Diagnostic fell 30 cents in closing at $3.21 in an exchange of 701,574 shares, Fosrich declined 70 cents after ending at $24.30, trading 523,023 stock units, Future Energy Source climbed 37 cents to end at $5.89, with 678,182 units changing hands. Honey Bun advanced 49 cents to $8.50 in trading 5,551 shares, Jetcon Corporation rose 13 cents in closing at $1.43 with 63,519 stocks clearing the market, KLE Group popped 21 cents in ending at $2.61 with the swapping of 38,923 stock units. Lasco Financial rose 18 cents to end at $3.49 while exchanging 32,012 shares, Lasco Manufacturing advanced 25 cents to close at $5.25 after an exchange of 53,401 stocks, Main Event fell 10 cents to $8.20 after 119,934 stock units crossed the market. 
Medical Disposables declined 55 cents in ending at $7, with 48,129 units crossing the market, Paramount Trading increased 10 cents to $1.90 with 22,030 stocks changing hands, Spur Tree Spices gained 16 cents to close at $3.66 after 874,669 shares were traded. SSL Venture rallied 14 cents in closing at $1.80, with 82,989 units changing hands and Stationery and Office Supplies dropped $1.35 to end at $10.65 with the swapping of 12,900 stock units.
In the preference segment, CAC 2000 9.5% preference share shed 16 cents in ending at $1, exchanging 3,187 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big drop for Junior market stocks
Trading closed on the Jamaica Stock Exchange Junior Market Tuesday, with the volume of stocks traded surging 318 percent as 292 percent more funds were extracted from the market compared to Friday as investors eye the latest IPO to come to market and pushed five stocks to freeze in trading shortly after trading opened.
All 45 listed securities traded compared to 43 on Friday, with 36 declining. Only three gained and six closed unchanged, pushing the Junior Market Index down by a hefty 228.07 points or 5.52 percent to close at 4,129.74.
The PE Ratio, a measure of computing appropriate stock values averages 12.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 24,253,233 shares traded for $99,156,469 up from 5,807,347 units at $25,315,609 on Friday. Trading averaged 538,961 shares at $2,203,477 up from 135,055 shares at $588,735 on Friday with month to date, averaging 430,189 units at $1,853,550 compared to 422,694 units at $1,829,436 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Spur Tree Spices led trading with 2.80 million shares for 11.6 percent of total volume, followed by Lumber Depot, 2.44 million units for 10.1 percent of the day’s trade, EduFocal ended with 2.29 million units for 9.4 percent market share, Jamaican Teas chipped in with 1.88 million units for 7.8 percent of trading, JFP Ltd ended with 1.70 million units for 7 percent market share and Tropical Battery, 1.69 million units for 7 percent of the market.
Investor’s Choice bid-offer indicator shows none ended with the bid higher than the last selling price and three with lower offers.
At the close, Access Financial dropped $2.21 to end at $20.91 after exchanging 13,794 shares, Blue Power rose 25 cents to $4, trading 80 units, Cargo Handlers declined $1.30 in closing at $10.40, with 13,101 stocks crossing the market. Caribbean Cream lost 45 cents to close at $4.72, with 65,045 stock units clearing the market, Consolidated Bakeries shed 19 cents to $1.20 after 374,062 stocks crossed the exchange, Derrimon Trading fell 12 cents to close at $2.90 in an exchange of 1,291,861 shares. Dolphin Cove fell $1.62 in closing at $16.98 after exchanging 395,202 stock units, but it traded as low as $14 in early morning trading, EduFocal lost 42 cents to end at $2.75, with 2,290,798 units crossing the market, Elite Diagnostic declined 43 cents in ending at $3.51 with 870,148 units changing hands. Express Catering shed 26 cents to end at $5.54 in switching ownership of 687,522 shares, Fontana dropped 10 cents after ending at $9.90 while exchanging 776,176 stock units, Fosrich shed $3 to end at $25 in trading 469,131 stocks. Future Energy Source lost 72 cents to close at $5.52 with the swapping of 1,391,166 stock units, Honey Bun fell $1.19 in closing at $8.01 after exchanging 111,904 units, iCreate declined 37 cents to $3.19, with 506,855 shares changing hands. Iron Rock Insurance dropped 20 cents to $3.10, trading 1,873 stocks, ISP Finance dropped $7 to close at $22.50 with an exchange of 23 stock units, Jamaican Teas fell 25 cents to end at $3.16, trading 1,881,644 stocks. Jetcon Corporation declined 26 cents in closing at $1.30 in exchanging 569,058 units, JFP Ltd lost 27 cents to end at $1.33 after 1,703,508 shares crossed the market, KLE Group popped 10 cents to close at $2.40 with 1,135 shares clearing the market. 
Knutsford Express shed 20 cents to $7.60 with the swapping of 11,987 stocks, Lasco Financial fell 22 cents in closing at $3.31 after trading 100,336 units,Lasco Manufacturing declined 11 cents in ending at $5, with 40,055 stock units changing hands. Lumber Depot lost 30 cents to end at $3.11 with an exchange of 2,444,142 stock units, Mailpac Group dropped 33 cents in closing at $2.61 after trading 905,286 units, Main Event shed 60 cents to $8.30 in switching ownership of 62,663 shares. Medical Disposables declined 45 cents in ending at $7.55 after 48,201 stocks crossed the exchange, Paramount Trading dropped 22 cents to end at $1.80 in trading 37,686 shares, Spur Tree Spices shed 35 cents to close at $3.50 after exchanging 2,804,435 stock units. Stationery and Office Supplies lost 15 cents to close at $12 in an exchange of 138,126 stocks, but the stock traded as low as $10 before rebounding, Tropical Battery fell 40 cents to end at $2.45, with 1,687,606 units crossing the market and tTech declined 10 cents in ending at $3.50 after exchanging 63,018 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Dolla Financial joins ICTOP10
The next stock slated to list on the Junior Market of the Jamaica Stock Exchange, Dolla Financial Services, joins ICTOP110 at the number one spot, with 2022 earnings projected at 20 cents per share and potential gains for the stock of 300 percent. The issue opens on Friday, 27 and 500 million shares being offered should be fully taken up by the public.
The other stock to climb into the ICTOP10 this week is Lasco Distributors, back in at the number 10 spot.
The markets pulled back this week, resulting in mixed performances for ICTOP10 stocks. In the Junior Market, following the release of March quarter results, Jetcon Corporation jumped 16 percent for the week to lead the Junior Market performances, Medical Disposables posted a 10 percent rise to $8, Access Financial gained 8 percent, while Caribbean Assurance Brokers lost13 percent in closing at $2.25 to be the only significant loser. TOP10 Main Market stocks had no meaningful gains. At the same time, Productive Business Solutions fell 17 percent to 98 US cents, VM Investments lost 9 percent and Radio Jamaica fell 5 percent, followed by JMMB Group with a 4 percent decline.
There were no movements in and out of the ICInsider.com TOP10 Main Market listing this week, but the Junior Market has two, with Dolphin Cove and Jetcon Corporation dropping out.
Investors should be on the lookout for companies with March year end that have not yet reported earnings. Amongst the grouping is the three Lasco companies that could get price moving punch from the results. Watch also Access and Medical Disposables, with the latter sitting close to the TOP of the list.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15, while the Junior Market PE for the Top 10 sits at 6.1 versus the market at 13.5. The Junior Market TOP10 is projected to gain an average of 226 percent by May 2023 and the Main Market 215 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market.
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 emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
Mild rebound for Junior Market
Trading picked up on the Jamaica Stock Exchange Junior Market on Thursday and leading to a rise in the Market index and breaking five consecutive days of decline, with the volume of stocks traded rising 183 percent and the value 119 percent more than on Wednesday and leaving declining stocks just ahead of those increasing, at the close.
Like Wednesday, all but one of the 45 listed securities traded on Thursday, with 15 rising, 17 declining and 12 closing unchanged. The Junior Market Index gained 25.36 points to 4,361.52.
The PE Ratio, a measure often used in computing appropriate stock values, averages 13.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
A total of 18,169,661 shares traded for $63,184,225 compared to 6,419,876 units at $28,806,239 on the Wednesday. Trading averaged 412,947 shares at $1,436,005 up from 145,906 shares at $654,687 on Wednesday, with month to date, averaging 442,970 units at $1,916,895 compared to 445,304 units at $1,954,279 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Derrimon Trading led market activity, with 11.56 million shares for 63.6 percent of total volume, followed by Lumber Depot with 1.91 million units for 10.5 percent of the day’s trade and Tropical Battery with 937,196 units for 5.2 percent market share.
The Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, CAC 2000 fell $1.21 in closing at $6.25, with 1,917 shares crossing the market, Caribbean Cream gained 24 cents to close at $5.17 while exchanging 82 stock units, Dolphin Cove climbed 61 cents to end at $20.11 after 19,815 units changed hands. Everything Fresh increased 10 cents to $1.60 after exchanging 8,702 stocks, Express Catering shed 10 cents in ending at $5.90 after trading 24,213 shares, Fontana declined 20 cents to $10.30, with 33,181 units crossing the market. Fosrich lost 30 cents to end at $28 in trading 140,251 stock units, General Accident dropped 10 cents in ending at $5.90, with 13,319 stocks crossing the exchange, Jetcon Corporation advanced 10 cents in closing at $1.55 after trading 29,805 stock units. 
Lumber Depot rallied 22 cents to close at $3.50 in switching ownership of 1,911,005 shares, Mailpac Group rose 20 cents to $2.95, with 166,653 stocks clearing the market, Medical Disposables dropped 43 cents in closing at $7.96 with an exchange of 64,569 units and Tropical Battery popped 14 cents to end at $2.75 with the swapping of 937,196 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
