Trading picked up on the Junior Market of the Jamaica Stock Exchange Tuesday with a 29 percent rise in the volume of stocks with the value rising 51 percent compared to Monday after 40 securities were traded compared with 48 on Monday and ended with 16 rising, 16 declining and 8 closing unchanged.
A total of 7,929,253 shares were traded for $24,724,504 compared to 6,142,842 units at $16,297,687 on Monday.
Trading averaged 198,231 shares at $618,113 compared to 127,976 units at $339,535 on Monday with the month to date averaging 30,079 units at $713,850 compared to 310,930 stocks at $720,046 on the previous day. January closed with an average of 239,755 units at $646,375.
Image Plus Consultants led trading with 1.36 million shares for 17.2 percent of total volume followed by Fosrich with 1.34 million units for 16.9 percent of the day’s trade and Derrimon Trading with 901,655 units for 11.4 percent market share.
At the close, the Junior Market Index slipped just 0.41 points to 3,844.18.
The PE Ratio, a measure of computing appropriate stock values, averages 11.9. The PE ratios of Junior Market stocks are computed using the last traded price and ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Blue Power rallied 8 cents to end at $2.30 after a transfer of 7,701 shares, Caribbean Assurance Brokers climbed 13 cents to $2.08 after an exchange of 1,709 stocks, Derrimon Trading shed10 cents to $2 with the swapping of 901,655 units. Dolla Financial popped 11 cents to close at $2.98 after trading 519,368 stock units, 
Dolphin Cove rallied 13 cents to $14.58 as investors exchanged 2,297 shares, EduFocal dropped 33 cents to $1.87 with 226,226 stocks clearing the market. Elite Diagnostic rose 30 cents to $3.10 in switching ownership of 1,000 stock units, Express Catering lost 8 cents after ending at $5 with 5,500 units changing hands, Fosrich fell 28 cents to close at $3.06 with 1,343,496 shares crossing the market. iCreate dipped 10 cents to end at $1.80 with investors transferring 103,487 stocks, Image Plus Consultants lost 8 cents to finish at $1.90 in exchanging 1,360,944 stock units, Limners and Bards advanced 30 cents to $2.70 in trading 152,493 units. Lumber Depot fell 20 cents in closing at $2.12 in an exchange of 24,150 stocks and 
Main Event climbed $1.35 to $10.55 with a transfer of 612,570 shares.
In the preference segment, CAC 2000 9.5% preference share rose 18 cents to $1.18 trading 10 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading drops
Trading activity dropped noticeably on Monday at the close of the Junior Market of the Jamaica Stock Exchange with a 41 percent fall in the number of shares exchanged with a 37 percent lower value than on Friday after investors traded 48 securities compared with 49 on Friday and ended with 17 rising, 21 declining and 10 unchanged.
A total of 6,142,842 shares were exchanged for $16,297,687, down from 10,473,528 units at $25,758,434 on Friday.
Trading averaged 127,976 shares at $339,535 compared with 213,745 units at $525,682 on Friday, with the month to date averaging 310,930 units at $720,046 compared to 326,336 stock units at $752,089 on the previous trading day. January closed with an average of 239,755 shares at $646,375.
Image Plus Consultants led trading with 649,400 shares for 10.6 percent of total volume, followed by Fosrich with 640,039 units for 10.4 percent of the day’s trade and Regency Petroleum with 607,675 units for 9.9 percent market share.
At the close, the Junior Market Index advanced 4.33 points to 3,844.59.
The PE Ratio, a measure of computing appropriate stock values, averages 12. The PE ratios of Junior Market stocks are calculated using the last traded prices in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, AMG Packaging dipped 9 cents in closing at $2.71 after an exchange of 102 shares, Blue Power rose 17 cents to close at $2.22 after a transfer of 21,246 units as the price hit an intraday 52 weeks’ low of $2.01, Cargo Handlers popped $2.01 in ending at $15 as investors traded 9,750 stocks. Caribbean Assurance Brokers fell 14 cents to $1.95 after an exchange of 3,491 stock units, Caribbean Cream gained 20 cents to end at $3.50 with 554 stock units changing hands, Dolphin Cove shed 51 cents to close at $14.45 with the swapping of 8,650 units. 
Elite Diagnostic shed 30 cents to end at $2.80 with a transfer of 6,682 shares, Fosrich popped 13 cents to settle at $3.34 after 640,039 stocks were traded, Future Energy Source gained 9 cents to close at $4.69 after an exchange of 383,036 shares. General Accident rallied 25 cents to end at $4.95 after 34,920 stocks crossed the market. Indies Pharma lost 21 cents to finish at $2.58 with 108,294 stock units changing hands, Iron Rock Insurance gained 27 cents in closing at $2.30 with investors transferring 83,263 units. Lasco Manufacturing advanced 10 cents in ending at $4.10 after 11,665 units were traded, Limners and Bards declined 28 cents to close at $2.40 after 293,713 stocks passed through the market, Main Event dropped $1.20 to end at $9.20 while exchanging 330 shares. Medical Disposables popped 35 cents to close at $5.15 in switching ownership of 851 stock units, 
Spur Tree Spices declined 15 cents in closing at $2.74 in transferring 54,347 units, Stationery and Office Supplies gained 15 cents after ending at $15 with the swapping of 4,345 stocks and Tropical Battery shed 20 cents to settle at $2.20 with an exchange of 542,594 stock units.
In the preference segment, CAC 2000 9.5% preference share dipped 18 cents to $1, with 5,387 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More ICTOP10 additions
ICTOP10 has two new additions this week, all are Junior Market stocks, following modest price changes in the listings this past week, but the Main Market had mostly significant losses as that market hit a new low for the year during the week.
In closing out the week, Lasco Distributors rose 6 percent to $2.75, while Tropical Battery gained just 4 percent to $2.40. Iron Rock Insurance fell 15 percent to $2.03, the only declining stock above one percent.
Four stocks rose in the Main Market TOP10, with NCB Financial and Jamaica Broilers increasing 4 percent to $77.99 and $33.90, respectively. Caribbean Producers plunged 10 percent to $9.72 as investors reacted negatively to a near US$2m negative swing in second quarter profit on higher revenues that were up 16 percent in the period, JMMB Group lost 8 percent to close at $30.80, Key Insurance fell 7 percent to $3, but 138 Student Living and Scotia Group dropped 4 percent to $4.80 and $32.95 respectively.
Honey Bun rose modestly for the week and, along with Tropical Battery, climbed out of the Junior Market ICTOP10, allowing Lasco Manufacturing and Paramount Trading to return to the ICTOP10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.4, well below the market average of 13.6, while the Junior Market Top 10 PE sits at 6.3 compared with the market at 12, important indicators of the level of the undervaluation of the ICTOP10 stocks.
The Junior Market is projected to rise by 220 percent and the Main Market TOP10 by an average of 288 percent to May this year. The primary concern for the Main Market achieving such gains by May is that the list is dominated by financial companies that are out of favour and may need to see the summer months before the full interest of investor start to show.
The Junior Market has 14 stocks representing 29 percent of the market, with PEs from 15 to 28, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 17. The above average shows the extent of potential gains 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 90, with an average of 33 and 25 excluding the highest valued stocks and 25 for the top half excluding the highest valued stocks.
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 will likely 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.
Junior Market breaks 5 days losing streak
Rising stocks outnumbered those declining on a 2 to 1 ratio at the close of trading on Friday on the Junior Market of the Jamaica Stock Exchange after an 18 percent rise in the volume of stocks traded but with a 10 percent lower value than on Thursday following trading in all 49 listed securities, up from 44 on Thursday and ended with 22 rising, 11 declining and 16 closing unchanged.
A total of 10,473,528 shares were traded for $25,758,434 up from 8,850,328 units at $28,524,287 on Thursday.
Trading averaged 213,745 shares at $525,682 compared to 201,144 units at $648,279 on Thursday with the month to date averaging 326,336 units at $752,089 versus 336,926 stock units at $773,383 on the previous day. January closed with an average of 239,755 units at $646,375.
Image Plus Consultants led trading with 3.33 million shares for 31.8 percent of total volume followed by Lumber Depot with 1.14 million units for 10.9 percent of the day’s trade and Fosrich with 725,221 units for 6.9 percent market share.
At the close, the Junior Market Index climbed 14.15 points to settle at 3,840.26.
The PE Ratio is a measure used in computing appropriate stock values and averages 12 at the end of trading. The PE ratios of Junior Market are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than its last selling price and one with a lower offer.
At the close, Access Financial dipped 23 cents to end at $22.99 with the swapping of 10 shares, Blue Power fell 35 cents in closing at a 52 weeks’ low of $2.05 after switching ownership of 16,700 stock units, CAC 2000 rose 45 cents to $8.35 after 13,353 units passed through the market. Cargo Handlers declined $2 to close at $12.99 after an exchange of 3,330 stocks, Dolphin Cove advanced 56 cents to $14.96 trading 6,472 units, Express Catering rallied 29 cents to end at $5.08 with 9,633 stocks changing hands. Fontana gained 30 cents in closing at $8.95 with a transfer of 134,996 shares, 
Future Energy Source shed 12 cents to $4.60 after investors traded 265,974 stock units, General Accident rose 55 cents in ending at $4.70 in exchanging 64,731 shares, following the release of full year results showing a doubling of profit over the prior year, with earnings per share of 52 cents. GWest Corporation popped 16 cents to close at $1.06 with 221 units changing hands, Indies Pharma gained 23 cents ending at $2.79 in switching ownership of 1,541 stock units, Iron Rock Insurance rose 15 cents to $2.03 in an exchange of 4,400 stocks. Jamaican Teas popped 10 cents in closing at $2.55, with investors transferring 520,653 stock units, Lasco Distributors gained 15 cents to finish at $2.75 after trading 1,576 stocks, Lumber Depot rallied 13 cents to $2.28 as investors exchanged 1,137,806 units. Main Event advanced $1.35 to $10.40 after 64,164 shares crossed the market, 
Paramount Trading lost 10 cents in closing at $2.20 in transferring 51,512 stock units, Stationery and Office Supplies gained 29 cents to close at $14.85 with an exchange of 1,948 shares and tTech popped 9 cents ending at $2.50 in trading 10,001 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Five days of decline for Junior
Stocks closed lower for a fifth consecutive day on Thursday on the Junior Market of the Jamaica Stock Exchange after a marginal fall in the market value, with 44 securities trading compared with 46 on Wednesday and ended with 14 rising, 21 declining and 9 closing unchanged following a 40 percent decline in the volume of stocks traded and 35 percent lower value than on Wednesday.
A total of 8,850,328 shares were traded for $28,524,287 compared with 14,651,750 units at $43,936,024 on Wednesday.
Trading averaged 201,144 shares at $648,279 compared to 318,516 units at $955,131 on Wednesday, with the month to date averaging 336,926 units at $773,383, compared with 349,451 stock units at $784,923 on the previous day. Trading in January closed with an average of 239,755 units at $646,375.
Image Plus Consultants led trading with 1.36 million shares for 15.3 percent of total volume followed by Derrimon Trading with 1.35 million units for 15.3 percent of the day’s trade, ONE on ONE Educational with 1.01 million units for 11.4 percent and Iron Rock Insurance with 1.0 million units for 11.3 percent market share.
At the close, the Junior Market Index dipped 12.31 points to close at 3,826.11.
The PE Ratio, a measure of use in computing appropriate stock values, averages 11.9. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, AMG Packaging advanced 50 cents in closing at $2.80 after 24,215 shares passed through the market, CAC 2000 rose 70 cents to end at $7.90 in exchanging 7 units, Consolidated Bakeries 
popped 33 cents to settle at $2.53 in trading 500 stocks. Dolphin Cove rallied 20 cents to $14.40 with investors transferring 71,702 stock units, Fosrich lost 9 cents to close at $3.22 with 372,910 stocks changing hands, GWest Corporation fell 19 cents to 90 cents as investors exchanged 172,277 shares. Image Plus Consultants lost 8 cents to end at $1.92 with a transfer of 1,358,099 stock units, Indies Pharma shed 24 cents to finish at $2.56 after 27,301 units passed through the market, Iron Rock Insurance dipped 15 cents in closing at $1.88 in switching ownership of 1,000,138 units. KLE Group shed 34 cents to end at $1.74 with the swapping of 35,525 stocks, Knutsford Express gained 75 cents in ending at $11.10 after trading 550,415 stock units, Lasco Distributors fell 25 cents to $2.60 in switching ownership of 5,538 shares. Lasco Manufacturing dipped 20 cents to $4 after exchanging 79,211 stock units, 
Limners and Bards declined 21 cents to close at $2.68 with a transfer of 554 shares, Lumber Depot shed 15 cents in closing at $2.15 with 14,663 units changing hands and Spur Tree Spices rose 14 cents to end at $2.89 trading 311,246 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market falls on Wednesday
Trading climbed on the Junior Market of the Jamaica Stock Exchange on Wednesday with the volume of stocks traded rising 19 percent and valuing 13 percent more than on Tuesday, from the trading in 46 securities compared with 38 on Tuesday and ended with 13 rising, 19 declining and 14 closing unchanged, while two stocks closed at 52 weeks’ low and two traded at 52 weeks’ intraday low.
A total of 14,651,750 shares were traded for $43,936,024, up from 12,292,679 units at $38,830,902 on Tuesday.
Trading averaged 318,516 shares at $955,131 compared with 323,492 units at $1,021,866 on Tuesday with the month to date averaging 349,451 units at $784,923 compared with 352,752 stock units at $766,757 on the previous day. January closed with an average of 239,755 units at $646,375.
JFP Ltd led trading with 4.55 million shares for 31 percent of total volume followed by Fontana with 1.54 million units for 10.5 percent of the day’s trade, Dolla Financial with 1.31 million units for 9 percent market share, Derrimon Trading with 1.23 million units for 8.4 percent and Image Plus Consultants with 1.19 million units for 8.1 percent market share.
At the close, the Junior Market Index shed 8.36 points to end at 3,838.42.
The PE Ratio, a measure of computing appropriate stock values, averages 12. The PE ratios of Junior Market stocks use the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, AMG Packaging shed 46 cents to close at a 52 weeks’ low of $2.30 with an exchange of 68,761 shares, Blue Power traded 31,980 shares and closed at a 52 weeks’ low of $2.46 after slipping 6 cents, Cargo Handlers rose $2.01 to $14.99 in switching ownership of 1,205 stock units, Caribbean Cream gained 20 cents to end at $3.30 with the swapping of 20,000 units. 
Consolidated Bakeries dipped 26 cents to $2.20 in transferring 17,635 stocks, Fosrich popped 8 cents in closing at $3.31 after trading 180,199 stocks, Future Energy Source lost 10 cents after ending at $4.65 with a transfer of 181,272 shares. General Accident shed 36 cents to close at $4.10 with 22,000 units crossing the exchange, GWest Corporation gained 11 cents to close at $1.09 with investors trading 1,157 stock units, Honey Bun advanced 44 cents to $7.45 after trading 18,696 shares. Iron Rock Insurance dipped 14 cents in closing at $2.03 with 18,263 stock units changing hands, JFP Ltd lost 9 cents to end at $1.66 in exchanging 4,546,622 stocks, Lasco Financial closed at $2.50 after hitting a 52 weeks’ intraday low of $2.01 and trading 58,400 shares, Lasco Distributors rallied 32 cents in closing at $2.85 with an exchange of 97,521 units. 
Lasco Manufacturing popped 14 cents to close at $4.20 with the swapping of 9,986 units, Main Event fell 90 cents to $9.10 after a transfer of 193,929 stocks, Spur Tree Spices traded 423,831 shares in closing at $2.75, but after trading at a 52 weeks’ intraday low of $2.69 and Stationery and Office Supplies declined 89 cents to $14.51 in trading 28,267 shares.
In the preference segment, CAC 2000 9.5% preference share gained 11 cents to end at $1.18 as investors exchanged 201 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market drops as stocks mostly fall
The Junior Market of the Jamaica Stock Exchange slipped further on Tuesday following the volume of stocks traded declining 83 percent following a 66 percent decline in value compared to Monday with 38 securities trading versus 44 on Monday and ended with 14 rising, 20 declining and four closing unchanged.
Investors traded 12,292,679 shares for $38,830,902 versus 73,141,898 units at $113,341,861 on Monday.
Trading averaged 323,492 shares at $1,021,866 compared with 1,662,316 units at $2,575,951 on Monday with the month to date averaging 352,752 units at $766,757 compared to 355,581 stock units at $742,090 on the previous day. Trading in January averaged 239,755 units at $646,375.
MFS Capital Partners was the leading trade, with 3.42 million shares for 27.8 percent of total volume followed by Spur Tree Spices with 3.13 million units for 25.5 percent of the day’s trade and Image Plus Consultants with 808,689 units for 6.6 percent market share.
At the close, the Junior Market Index dropped 47.70 points to end at 3,846.78.
The PE Ratio, a measure of computing appropriate stock values, averages 11.9. The PE ratios of 
Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, AMG Packaging dipped 26 cents to $2.76 in an exchange of 5,186 shares, Cargo Handlers fell $1.92 to $12.98 after trading 243,264 stock units, Consolidated Bakeries gained 26 cents to close at $2.46 after 2,024 units crossed the market. Dolphin Cove rallied 20 cents to finish at $14.20 in transferring 3,450 stock units, EduFocal gained 12 cents in closing at $2.15 with an exchange of 35,124 units, Everything Fresh rose 16 cents to $1.36 with 38,441 shares changing hands. Fosrich lost 19 cents in closing at $3.23 in switching ownership of 268,928 stocks, 
Honey Bun fell 29 cents to $7.01 as investors exchanged 7,789 stock units, Indies Pharma shed 16 cents to close at $2.74 after trading 2,001 stock units. Iron Rock Insurance dipped 22 cents to end at $2.17 with 27,038 units changing hands, Knutsford Express declined 65 cents to $10.35 with 20,156 stocks clearing the market, Lasco Manufacturing fell 16 cents to $4.06 in trading 40,033 shares. Limners and Bards gained 14 cents to end at $2.89 with an exchange of 320,192 stocks, Medical Disposables popped 35 cents in closing at $4.85 with a transfer of 201 stock units, MFS Capital Partners shed 15 cents to settle at $3.79 in switching ownership of 3,415,569 units. 
ONE on ONE Educational lost 9 cents in ending at $1.16 with the swapping of 778,380 shares and Tropical Battery gained 8 cents to close at $2.41 after trading 160,166 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Surge in trading as most prices drop
The volume of stocks traded surged on Monday on the Junior Market of the Jamaica Stock Exchange with ONE on ONE Educational trading with 31.23 million shares followed by Everything Fresh with 29.22 million that pushed the number of stocks traded up by a massive 970 percent valued 484 percent compared to Friday with trading in 44 securities compared with 43 on Friday and ending with 11 rising, 26 declining and 7 unchanged leading the market Index to slip by just 2.17 points to 3,894.48.
A total of 73,141,898 shares were traded for $113,341,861 compared to 6,834,372 units at $19,392,171 on Friday.
Trading averaged 1,662,316 shares at $2,575,951 compared to 158,939 units at $450,981 on Friday with the month to date averaging 355,581 units at $742,090 compared with 190,836 stock units at $510,887 on the previous day. January closed with an average of 239,755 units at $646,375.
ONE on ONE Educational led trading with 42.7 percent of total volume followed by Everything Fresh with 39.9 percent of the day’s trade, MFS Capital Partners chipped in with 4.19 million units for 5.7 percent and Image Plus Consultants with 2.80 million units for 3.8 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.1. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial popped $1.16 in closing at $23.23, with an exchange of a mere 78 shares, AMG Packaging lost 16 cents in ending at $3.02 after an exchange of 135 units, Cargo Handlers rallied $1.92 to close at $14.90 in trading 28,711 stocks. Caribbean Cream fell 40 cents to a 52 weeks’ low of $3.10, with 14,889 shares changing hands, Consolidated Bakeries shed 40 cents to end at $2.20 with a transfer of 5,794 stocks, Dolla Financial dipped 9 cents to close at $2.90 in transferring 640,209 units. Dolphin Cove declined 49 cents to end at $14 after exchanging 135,752 stock units, EduFocal shed 19 cents to settle at $2.03 as investors transferred 588,020 shares, Elite Diagnostic gained 8 cents in closing at $3.20 with 1,600 units changing hands.
Everything Fresh fell 26 cents to $1.20 after 29,215,940 shares passed through the market, Fosrich fell 23 cents to end at $3.42 in trading 909,036 stocks, General Accident shed 24 cents in closing at $4.46 with investors transferring 12,353 stock units. Indies Pharma lost 8 cents to finish at $2.90 in switching ownership of 16 stocks, JFP Ltd dipped 8 cents to close at $1.68 with the swapping of 635,942 stock units, Knutsford Express declined 80 cents to $11 as after 29,480 shares cleared the market. Lasco Financial shed 30 cents to end at $2.50 with an exchange of 34,951 units, Lasco Manufacturing dipped 11 cents in closing at $4.22 with a transfer of 25,881 stocks, Lumber Depot advanced 17 cents to close at $2.32 after hitting an intraday low of $2.02, with the swapping of 52,041 units. Mailpac Group lost 10 cents to end at $2 after trading 110,397 shares, Main Event declined 52 cents to $10 with 2,192 stock units changing hands, MFS Capital Partners rose 37 cents to $3.94 in exchanging 4,185,425 stock units. 
ONE on ONE Educational popped 9 cents to end at $1.25 in transferring 31,230,186 shares and Paramount Trading shed 24 cents to close at $2.34 in an exchange of 205 stocks.
In the preference segment, CAC 2000 9.5% preference share shed 10 cents in closing at $1.07 after a transfer of 2,501 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Four new ICTOP10 stocks
ICTOP10 has four new additions this week. The changes followed release of new company results that saw upward and downward movements in earnings per share, while the price of one stock rose to exit the list.
At the end of the week, Paramount Trading jumped 17 percent to $2.58 after the supply of stocks in the market fell sharply during the week as the stock hit a 52 weeks’ intraday high of $2.95 before pulling back by the end of the week and Honey Bun rose 4 percent to $7.35. Lasco Manufacturing fell 8 percent to close at $4.33, General Accident slipped 6 percent to $4.70, Lasco Distributors lost 5 percent to end at $2.60 and Iron Rock Insurance fell 4 percent to $2.39.
Stocks rising in the Main Market TOP10 were hard to come by as losers outgunned winners. Jamaica Broilers jumped 8 percent to close at 52 weeks’ high of $32.50, but 138 Student Living dropped 10 percent to $5.00, as investors reacted negatively to a board decision to raise added capital by issuing more shares to the public. Radio Jamaica fell 7 percent to $1.90 after reporting poor results to December, while Caribbean Producers and Sygnus Investments fell 6 percent to $10.80 and $12.25, respectively, followed by a 5 percent decline for Guardian Holdings to close at $505.70.
Tropical Battery returns to ICTOP10 after a one week absence, Main Event posted better than expected full year results and moved into the TOP10 with projected earnings of $1.45 for the 2023 fiscal year and One on One Education moved into the TOP10, while Lasco Manufacturing moved out followed by Lasco Financial and Paramount Trading. In the Main Market, Radio Jamaica slipped out of the TOP10 and Scotia Group reentered after a brief respite.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.7, while the Junior Market Top 10 PE sits at 6.6 compared with the market at 12.3, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 207 percent and the Main Market TOP10, an average of 280 percent, to May this year. The primary concern for the Main Market achieving such gains by May is that the list is dominated by financial companies that are out of favour and may need to see the summer months before the total interest of investor start to show.
The Junior Market has 15 stocks representing 31 percent of the market, with PEs from 15 to 30, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 18. The above average shows the extent of potential gains for the TOP 10 stocks.
The situation in the Main Market is similar, with the 18 highest valued stocks priced at a PE of 15 to 90, with an average of 27 and 22 excluding the highest valued stocks and 27 for the top half excluding the highest valued stocks.
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 will likely 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.
Junior Market drops to close out week
Trading closed on the Junior Market of the Jamaica Stock Exchange Friday, with the volume of stocks traded rising moderately, with a 12 percent increased value than on Thursday after trading in 43 securities up from 40 on Thursday and ended with 18 rising, 14 declining and 11 closing unchanged.
A total of 6,834,372 shares were traded for $19,392,171 compared to 6,781,412 units at $17,334,001 on Thursday.
Trading averaged 158,939 shares at $450,981 compared with 169,535 units at $433,350 on Thursday with the month to date, averaging 190,428 units at $509,428 compared to 194,682 stock units at $517,614 on the previous day. January closed with an average of 239,755 units at $646,375.
MFS Capital Partners led trading with 1.54 million shares for 22.6 percent of total volume followed by Dolla Financial with 730,092 units for 10.7 percent of the day’s trade and Jamaican Teas with 619,095 units for 9.1 percent market share.
At the close, the Junior Market Index dipped 22.37 points to settle at 3,896.65.
The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks are computed based on the last selling price and ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, AMG Packaging increased 43 cents ending at $3.18 trading 8,356 shares, Cargo Handlers lost 22 cents in closing at $12.98 after exchanging 1,000 stocks, Consolidated Bakeries advanced 55 cents to end at $2.60 exchanging 9,981 units. Dolphin Cove with 10,983 stock units fell 49 cents to $14.49 crossing the market, EduFocal gained 14 cents to close at $2.22 crossing the market 228,036 shares, 
Elite Diagnostic dropped 8 cents to end at $3.12 passed through the market 20,556 units. Express Catering dipped 31 cents ending at $4.77 while exchanging 48,995 stocks, Fosrich popped 13 cents to $3.65 finishing at 305,373 stock units, General Accident declined 25 cents in closing at $4.70 as investors exchanged 10,534 shares. GWest Corporation shed 11 cents to close at 99 cents in exchanging 8,324 stocks, Knutsford Express rallied $1.49 to $11.80 with investors transferring 805 stock units, Lasco Financial rose 18 cents to end at $2.80 with an exchange of 238,200 units. Lasco Manufacturing climbed 27 cents in closing at $4.33 clearing the market with 12 stocks, Limners and Bards rallied 20 cents ending at $2.70 with the swapping of 77,151 shares, Main Event rose 32 cents to close at $10.52 in switching ownership of 53,343 stock units. 
Medical Disposables dipped 50 cents to end at $4.50 crossing the exchange 70,000 units, Stationery and Office Supplies gained 90 cents in closing at $15.40 after a transfer of 80 shares and Tropical Battery lost 13 cents to $2.31 with a transfer of 238,098 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
