The bears took another swipe at Jamaica Stock Exchange stocks on Friday and, in the process, cut more points off the market indices at the close on Friday and still left the recovery from the lows reached in March intact.
At the close, the JSE All Jamaican Composite Index declined by 2,030.54 points to 425,749.25, the JSE Market Index fell 1,694.44 points to 388,060.38 and the JSE Financial Index lost 0.25 points to 105.75.
The market closed with 45 securities changing hands in the Main and US dollar markets with prices of 15 stocks advancing, 19 declining and 11 securities trading firm. The JSE Main Market activity ended with 41 securities accounting for 22,927,942 units valued at $89,687,496, in contrast to 146,823,904 units valued at $296,270,700 from 44 securities on Thursday.
Trans Jamaican Highway led trading with 15.1 million shares for 66 percent of total volume followed Wigton Windfarm with 2.8 million units for just over 12 percent of the day’s trade and Sagicor Select Financial Fund with 1.4 million units for 6 percent market share.
The Market closed with an average of 559,218 units valued at an average of $2,187,500 for each security traded, in contrast to 3,336,907 units valued at an average of $6,733,425 on Thursday. The average volume and value for the month to date amount to 984,827units valued at $4,072,790 for each security changing hands, compared to 1,022,515 units valued at $4,256,393 for each security traded. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and five stocks closing with lower offers. The PE ratio of the market ended at 14.1, while the Main Market ended at 14.5 times 2020/21 earnings.
In Main Market trading, Barita Investments lost $1 to end at $55, in exchanging 15,090 shares, Berger Paints gained $1.38 to close at $14, with just 2,500 units traded, Caribbean Cement shed 50 cents after transferring 32, 777 stock units to end at $48.50. Carreras closed 69 cents lower to $6.06, with 365,300 shares changing hands, Jamaica Producers declined to $19.12, with a loss of 88 cents in swapping 5,424 stock units, Jamaica Stock Exchange rose 74 cents to $22.91, in trading 117,624 shares. 
MPC Caribbean Clean Energy jumped by $30.58 after transferring 494 units to end at $180.58, NCB Financial Group shed 50 cents to close at $155, with an exchange of 105,674 shares, Proven Investments picked up $1.01 to finish at $38.10, in swapping 2,500 units. Sagicor Group closed at $49, with a loss of 75 cents with 434,646 shares crossing the exchange, Salada Foods lost 50 cents after swapping 7,102 units at $28, Scotia Group fell by $2.08 to $45.81, with a transfer of 34,866 stock units. Seprod dropped $1 to close at $45, in trading 8,911 units, Stanley Motta picked up 41 cents to finish at $5.03, in exchanging 6,000 units, Supreme Ventures ended at $15.48, with a loss of $1.52 and the swapping of 47,463 shares. Sygnus Credit Investments closed at $15, after losing $2.45 trading 57,900 shares and Wisynco Group ended the exchanging of 341,913 stock units at $16, with a loss of $1.10.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The Market closed with an average of 3,336,907 units valued at $6,733,425 for each security traded, in contrast to 1,216,630 units valued at an average of $3,485,017 on Wednesday. The average volume and value for the month to date amount to 1,022,515 units valued at $4,256,393 for each security changing hands, compared to 779,477 units valued at $3,967,296 for each security traded. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
Kingston Wharves picked up 42 cents and closed at $44, with 26,422 units changing hands. MPC Caribbean Clean Energy sustained a loss of $33 in swapping 499 units and closed at $150, NCB Financial Group fell 50 cents to $155.50 trading 35,964 units, PanJam Investment shed 85 cents to close at $75.98, with an exchange of 9,929 stock units. Portland JSX picked up 80 cents in trading only one stock unit to end at $8.90, Sagicor Group finished at $49.75, with a loss of 77 cents in exchanging 86,774 shares, Salada Foods closed at $28.50, after losing $4.95 in exchanging 10,299 units. Scotia Group gained 39 cents swapping 50,079 shares and closed at $47.89, Seprod climbed $2 to $46, with 18,441 units crossing the exchange, Stanley Motta slipped 38 cents to $4.62, in swapping 4,200 stock units and Victoria Mutual Investments ended at $7.50, with a loss of 30 cents while transferring 420,041 shares.
The market closed with 50 securities changing hands in the Main and US dollar markets with prices of nine stocks advancing, 28 declining and 13 securities trading firm. The JSE Main Market activity ended with 44 securities accounting for 53,531,710 units valued at $153,340,745, in contrast to 21,215,763 units valued at $102,509,485 from 46 securities on Tuesday.
Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
NCB Financial Group declined by $2 to $156 transferring 98,627 shares, PanJam Investment picked up 83 cents to close at $76.83, after trading 24,331 units, Proven Investments climbed $2.95 to $37 after exchanging 940 units. Sagicor Group dropped $2.98 to end at $50.52, after trading 179,780 shares, Sagicor Real Estate Fund gained 41 cents to close at $7.99, with 41,292 units changing hands. Salada Foods closed at $33.45, after climbing $5.05 in swapping a mere 120 units. Scotia Group shed 45 cents to finish at $47.50 in transferring 17,694 units, Seprod lost $3 to end at $44, with an exchange of 33,846 units, Stanley Motta lost 65 cents to close at $5, in swapping 36,575 stock units. Supreme Ventures dropped $1.99 to $17, after trading 131,365 shares, Victoria Mutual Investments ended at $7.80, with a loss of $1.20 in transferring 518,294 shares and Wisynco Group fell by $2.49 to $17, with 667,525 shares changing hands.
The Market closed with an average of 461,212 units valued at $2,228,467 for each security traded, in contrast to 909,064 units valued at an average of $10,809,850 on Thursday. The average volume and value for the month to date amount to 728,184 units valued at $4,031,021 for each security changing hands, compared to 765,512 units valued at $4,319,932 for each security traded. Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
Jamaica Stock Exchange ended $2.39 higher at $24.74, after swapping 16,514 units, JMMB Group closed at $39, with gains of $1 exchanging 73,496 shares. MPC Caribbean Clean Energy soared $44 to $184, with 375 stock units crossing the exchange, 138 Student Living added 30 cents to reach $7, in transferring 52,564 units, Proven Investments fell $3.95 to $34.05, in swapping 185,350 shares. Sagicor Group closed $2.50 higher to $53.50, in an exchange of 60,754 units, Scotia Group gained 35 cents to finish at $47.95 after trading 20,574 stock units, Seprod declined by $2 to $47, with 101,771 shares changing hands. Supreme Ventures rose $1.99 to $18.99, in transferring 65,409 shares, Sygnus Credit Investments shed 40 cents trading 153,409 shares and closed at $17.60 and Wisynco Group added 49 cents to end at $19.49, with 336,917 shares crossing the exchange.
The current IC Insider.com TOP 10 list is based on the profit of companies reporting full year’s results for the financial year ending after 2020 second quarter and up to the second quarter in 2021.
The three top Junior Market selections are Caribbean Producers, KLE Group and Lasco Financial with the potential to gain between 270 to 533 percent by 2021. In the Main Market, Berger Paints leads the pact followed by Radio Jamaica and then Carreras with projected gains of 146 to 170 percent.
Junior Market and 139 percent from 153 percent last week for the JSE Main Market, based on 2020/21 earnings.
At the close, the JSE All Jamaican Composite Index climbed 5,606.53 points to 432,124.95, the JSE Market Index advanced 4,975.85 points to 393,629.79 and the JSE Financial Index gained 1.02 points to 106.63.
Trans Jamaican Highway led trading with 10.3 million shares for 47.6 percent of total volume, Wigton Windfarm followed with 3 million units for 14 percent of the day’s trade and Sagicor Select Financial Fund with 2.6 million units for 12 percent market share. Wisynco Group, the only other stock trading more than one million units, in exchanging 1.2 million shares.
The PE ratio of the overall market ended at 14.2, while the Main Market ended at 14.5 times 2020/21 earnings.
Trans Jamaican Highway led trading with 10.4 million shares for 42 percent of total volume. Wigton Windfarm followed, with 8.5 million units for 34.6 percent of the day’s trade and Trans Jamaican Highway trading in the US dollar market accounted for 3.8 million units for the equivalent of 15.6 percent of the Main Market’s volume. Other stocks trading more than one million units were Sagicor Select Financial Fund, with 2.3 million shares and Wisynco Group with 1.3 million units.
First Rock Capital closed 40 cents lower at $9.60, with 50,007 shares crossing the exchange, Jamaica Broilers declined $3.52 to $29, with 48,411 shares changing hands, Jamaica Producers gained $1.04 to close at $20.15 transferring 15,332 units. Mayberry Jamaican Equities closed $1.20 higher to reach $9.10, in trading 59,464 shares, MPC Caribbean Clean Energy advanced by $5 to $145, with an exchange of 344 stock units, NCB Financial Group climbed $2.09 to $155 in swapping 37,820 shares. Sagicor Group added $1.75 to end at $50.50, with 89,434 shares changing hands, Salada Foods dropped $3.78 to finish at $32.22, after transferring 471 units, Seprod closed $1 lower to $48.50, with an exchange of 11,674 units. Stanley Motta shed 30 cents to end at $5.50 trading 22,100 units, Sterling Investments picked up 35 cents to close at $2.85, with a transfer of 145,739 shares, Sygnus Credit Investments lost $1.96 ended at $17.03, after exchanging 103,764 shares and Wisynco Group rose $1.49 to $15.39, in swapping 1,312,997 shares.
Stocks leaving the TOP are Lasco Manufacturing with a gain of 33 percent after the stock rose from $2.75 the previous week to close at $3.65. General Accident moved from $4.50 to $5.71 to record a 27 percent rise and Sygnus US dollar-based stock gained 25 percent to close at 15 US cents and left the main market TOP 10. Eppley rose 31 percent for the week in closing at $16 and Elite Diagnostic is up a stunning 50 percent but remains in the TOP 10. Access Financial closed the prior week at $18.35 and is now up 33 percent to $24.50.> Some of the gains in the market arose from oversold conditions as well as funds returning to investors last week from the refund of the Trans Jamaica Highway IPO.
While local stocks make a strong recovery this past week, thanks no doubt to some of the IPO refund coming back into the market. Investors must not lose sight that significant uncertainties abound about the local and global economy and how each company may be affected. It is not possible to determine the exact fallout and benefits from the crisis and the impact on company earnings. Actual earnings could vary materially from IC Insider.com’s forecast.
The expectations are for the company to return to normality for the 2021 fiscal year that ends in June 2021 that will give buyers of the stock around current prices a big payday.
With the tourism industry virtually closed, companies heavily dependent on the industry will have little or no sales for a while from March. The Group consists of Caribbean Producers, Dolphin Cove, Everything Fresh and Express Catering. Entertainment company Main Event and restaurant operator KLE Group will be hurt from patrons staying home as well as fewer tourists visiting Montego Bay and patronizing the restaurant in that town. Once this period of disruption has passed, KLE should benefit from economies of scale with the full ownership of the additional restaurant.
The PE ratio for Junior Market Top 10 stocks averages 5.5 with the Main Market at 8.5.
Trading in March resulted in an average of 1,146,245 units valued at $7,550,295 for each security.
MPC Caribbean Clean Energy advanced $5 to $140 after exchanging 1,512 stock units, NCB Financial Group climbed to $152.91, with gains of $2.66 with 265,789 shares changing hands. PanJam Investments fell by $2 to $76 in swapping 225,872 shares, Portland JSX shed 70 cents to finish at $7.30, with an exchange of 38,667 units, Proven Investments closed at $39.70, after rising $2.20 and trading 11,126 units. Sagicor Group picked up 81 cents to end at $48.75, in transferring 73,620 shares, Sagicor Real Estate Fund closed 45 cents lower at $7.25 with 81,200 stock units crossing the exchange, Salada Foods jumped $6 to $36, after exchanging 59,400 units. Seprod closed $1.50 higher to $49.50, with a transfer of 65,614 shares and Supreme Ventures gained 40 cents to end at $14.40, with 248,813 shares changing hands.