The Junior Market of the Jamaica Stock Exchange slipped at the close of trading on Tuesday, after a big jump in the volume of stocks traded, with a 179 percent jump after a 94 percent rise in value compared with trading on Monday following trading in 43 securities compared with 45 on Monday and ending with prices of 16 rising, 18 declining and nine closing unchanged as the market closed with two stocks hitting intraday 52 weeks’ Low and one closing at a 52 weeks’ low.
Investors traded 10,678,936 shares at $24,677,448, up from 3,833,833 units for $12,740,526 on Monday.
Trading on Tuesday averaged 248,347 shares for $573,894 versus 85,196 shares at $283,123 on Monday. Trading for the month to date averaged 293,751 units at $731,795 compared with 296,509 units at $741,385 on the previous day. June ended with an average of 319,230 units at $854,456.
ONE on ONE Educational led trading with 2.26 million shares for 21.2 percent of total volume, followed by Dolla Financial with 2.26 million units for 21.1 percent of the day’s trade, Paramount Trading closed with 1.95 million units for 18.3 percent market share and Spur Tree Spices with 1.44 million units for 13.5 percent of total volume.
At the close, the Junior Market Index dipped 5.62 points to 3,912.36, but the Investor’s Choice bid-offer indicator is reflecting more negative signs, with three stocks ending with bids higher than their last selling prices and seven with lower offers.
The PE Ratio, a measure used in computing appropriate stock values, averages 11. The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
At the close, AMG Packaging increased 16 cents to $2.66 in an exchange of just 444 shares, Blue Power fell 37 cents to close at $2.62, with stakeholders exchanging 16,428 stock units, Cargo Handlers rose $2.98 to $20.98, with 1,221 stocks changing hands, Caribbean Cream dropped 40 cents in closing at $4.08, with the passage of 2,611 units through the market. Caribbean Flavours rallied 10 cents to $1.33, with 8,001 stocks clearing the market, Dolla Financial climbed 21 cents in closing at $2.40 while exchanging 2,255,034 stock units, Everything Fresh popped 8 cents and ended at $1.47 after a transfer of 9,001 units, 
Fontana gained 8 cents to end at $11 with a transfer of 120,687 shares. Future Energy Source advanced 15 cents to $3.95, with 147,491 stocks being traded, Honey Bun declined 43 cents to close at $6.06, with 37,303 shares crossing the exchange, Image Plus Consultants lost 18 cents and ended at $2.30 in trading 154,518 units, Iron Rock Insurance dipped 50 cents in closing at $2 in an exchange of 24,721 shares. Medical Disposables shed 76 cents to end at $4.30 after an exchange of 15,440 stock units, MFS Capital Partners dipped 18 cents to close at $2.40 with 143,773 shares crossing the market, 
Stationery and Office Supplies advanced 10 cents to $27.98 with an exchange of 92,464 stocks and Tropical Battery increased 19 cents in closing at $2.04 after trading 323,285 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market slide on reduced volume
The Junior Market of the Jamaica Stock Exchange slipped on Monday, with the volume of stocks traded declining 58 percent and the value 48 percent lower than on Friday, following trading in 45 securities trading compared with 46 on Friday and ending with prices of 12 rising, 25 falling and eight closing unchanged.
Investors traded 3,833,833 shares for $12,740,526, down from 9,067,320 units at $24,359,252 on Friday.
Trading averaged 85,196 shares at $283,123 compared to 197,116 units at $529,549 on Friday with a month to date, average of 296,509 units for $741,385 compared with 310,851 stocks at $772,488 on the previous day. June closed with an average of 319,230 units at $854,456.
Dolla Financial led trading with 1.08 million shares for 28.1 percent of total volume, Derrimon Trading followed with 318,827 units for 8.3 percent of trading and General Accident with 310,353 units for 8.1 percent market share.
At the close, the Junior Market Index fell 11.07 points to end at 3,917.98.
The PE Ratio, a measure of computing appropriate stock values, averages 11. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Access Financial declined 60 cents to end at $24.40, with 54 shares crossing the market, AMG Packaging fell 16 cents to $2.50 with a transfer of 187 stocks, Cargo Handlers rose $3 to $18, with 1,000 stock units changing hands, Caribbean Flavours dipped 11 cents in closing at $1.23 in switching ownership of 377 units. Consolidated Bakeries lost 15 cents to close at $2.65 as investors exchanged 4,915 shares, Dolla Financial rallied 11 cents to end at $2.19, with stakeholders trading 1,076,387 stocks, Dolphin Cove climbed $1 and ended at $16 while exchanging 4,882 units, Elite Diagnostic increased 44 cents to $1.99 after 6,621 stock units passed through the market. Everything Fresh shed 13 cents to close at $1.39, with 5,996 stocks clearing the market, Fontana dropped 8 cents in closing at $10.92, with 94,540 stock units crossing the market, ISP Finance fell $3.59 to end at $20.95 with investors transferring 8 units, 
Knutsford Express gained 14 cents to close at $10.65 after trading 15,618 shares, Lasco Financial popped 10 cents in closing at $2.40 with a transfer of 13,075 units. Limbers and Bards traded 99,326 shares and slipped 1 cent in close at a 52 weeks’ low of $2.02, Lumber Depot popped 8 cents and ended at $2.15 with an exchange of 76,657 stock units, Main Event dropped $1.40 to $14.57 with 44,151 stocks being traded, Medical Disposables gained 68 cents in ending at $5.06 with shareholders swapping 2,283 shares. Paramount Trading lost 10 cents in closing at $1.80 with 9,000 units crossing the exchange, Regency Petroleum dipped 14 cents to $2.75 and closed with 232,612 stocks changing hands, Spur Tree Spices dipped 9 cents to end at a 52 weeks’ low.$1.99 in trading 84,580 shares.
Stationery and Office Supplies rallied 45 cents to close at $27.88 after exchanging 69,739 stock units and Tropical Battery shed 11 cents in closing at $1.85 after an exchange of 89,941 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Major price changes for ICTOP10
The past week was one of contrast, with the Main Market rising and the Junior Market declining moderately, as the ICOP10 stocks recorded mixed results ranging from increases of 21 percent and losses of as much as 12 percent, at the same time, Transjamacian Highway that ended last week at $2.78, came under selling pressure on Friday and closed at $2.50 after reaching a record high of $2.88 on Monday and continues to a great buy, especially with the price pulling back.
Guardian Holdings jumped 21 percent during the week
For the week, 5 Junior Market TOP10 stocks declined and just two rose, while the Main Market ended with 5 rising and 4 declining. Image Plus closed at a record high on Friday and dropped out of the TOP10 along with Iron Rock Insurance. Everything Fresh and Elite Diagnostic replaced them, with the latter dropping to a record low of $1.55. There were no changes to the listing for the Main Market TOP10.
In the Junior Market, Image Plus having listed in January this year and never got the usual big IPO bounce, now seems to be just coming into its own, with a 20 percent jump to close the week at $2.50 after the price hit a record high of $2.60 on Friday and was followed by Caribbean Cream, up 10 percent to $4.49 as declining stocks dominated the week with iCreate dropping 12 percent to $1, followed by Dolla Financial shedding 9 percent to $2.08, with Dolphin Cove and OneonOne falling 8 percent to $15 and $1 respectively.
Guardian Holdings jumped 21 percent to $455, following changes in NCB Financial top management team, while Caribbean Producers rose 8 percent to $10.77, Sygnus Credit 
Investments fell 12 percent to $11.17 and Caribbean Cement slipped 9 percent to $50.03.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 256 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 98, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.6 compared with the market at 11.1. There are 9 stocks representing 19 percent of the market, with PEs from 15 to 41, averaging 21 that are well above the average of the market. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently and projected to rise by 264 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
Investors continue to nibble away at a number of stocks and gradually reducing the supply of several of them that are attractively priced as the market moves through the summer months, the start of the stock market year when new results will be coming to the market for investors to assess and determine what to do.
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 2024 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.
Winning Junior Market stocks outpace losers but..
Trading picked up on the Junior Market of the Jamaica Stock Exchange on Friday, with the volume of stocks traded rising 47 percent and the value 22 percent more than on Thursday, after trading took place in 46 securities up from 43 on Thursday and ended with 22 rising, 15 declining and nine closing unchanged.
Investors traded 9,067,320 shares for $24,359,252 compared with 6,180,875 units at $20,046,474 on Thursday.
Trading averaged 197,116 shares at $529,549 compared to 143,741 units at $466,197 on Thursday with the month to date, averaging 310,851 units at $772,488 compared with 319,331 stock units at $790,601 on the previous day. June closed with an average of 319,230 units at $854,456.
Image Plus Consultants led trading with 2.23 million shares for 24.6 percent of total volume, followed by Dolla Financial with 1.89 million units for 20.8 percent of the day’s trade and Fosrich with 1.24 million units for 13.7 percent of the day’s trade.
At the close, the Junior Market Index dropped 33.95 points to finish at 3,929.05.
The PE Ratio, a measure of computing appropriate stock values, averages 11.1. The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial gained 11 cents to close at $25 after a transfer of 2,704 shares, AMG Packaging rose by 17 cents to end at $2.66 in switching ownership of 62,300 stock units, CAC 2000 lost 24 cents and ended at $6.75 with investors trading 1,448 units, Cargo Handlers dived $6.10 to close at $15 as investors exchanged 2,120 stocks. Caribbean Cream rallied 29 cents in closing at $4.49 in an exchange of 1,052 shares, Caribbean Flavours popped 11 cents to $1.34 with 202 units changing hands, Dolphin Cove dropped $1.99 to end at $15, with just 1,578 stock units crossing the market, Elite Diagnostic fell 35 cents ended at a 52 weeks’ low of $1.55 after exchanging 46,823 stocks. Everything Fresh rose 12 cents in closing at $1.52 with stakeholders trading 6,742 units, 
Fontana increased 25 cents to close at $11 with investors trading 199,482 stocks, Future Energy Source dropped 19 cents to close at $3.80 after an exchange of 222,420 shares, General Accident advanced 30 cents in closing at $5 in trading 8,450 stock units. Honey Bun increased 35 cents and ended at $6.45 in an exchange of 4,530 shares, Image Plus Consultants gained 28 cents to close at a 52 weeks’ high of $2.50 while exchanging 2,230,057 stock units, with the price hitting a record $2.60 before the close of trading. Jamaican Teas advanced 9 cents to end at $2.19 with shareholders swapping 106,129 stocks, KLE Group climbed 15 cents to $1.69, with just 55 units passing through the market. Paramount Trading popped 10 cents and ended at $1.90, with 100 units changing hands, Regency Petroleum rallied 14 cents to end at $2.89, with 121,401 shares crossing the market. 
Stationery and Office Supplies rose $1.43 to close at $27.43 after a transfer of 110,534 stock units, Tropical Battery shed 8 cents in closing at $1.96 after clearing the market with 216,424 stocks and tTech gained 43 cents and ended at $2.22 after closing with 2,000 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market slips, with dominant declining stocks
Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday, with the volume of stocks traded declining 21 percent with a moderately lower value than on Wednesday, with 43 securities trading, compared with 44 on Wednesday and ended with ten rising, 23 falling and ten closing unchanged.
Investors traded 6,180,875 shares for $20,046,474 versus 7,810,602 units at $20,148,012 on Wednesday.
Trading averaged 143,741 shares at $466,197 compared with 177,514 units at $457,909 on Wednesday, Trading month to date ended with an average of 319,331 stocks at $790,601 down from 332,485 units at $814,903 on the previous day. Trading in June ended with an averaged of 319,230 units at $854,456.
Image Plus Consultants was the lead trade with 2.33 million shares at 37.6 percent of total volume, followed by Dolla Financial with 1.34 million units for 21.7 percent of the day’s trade and Future Energy Source with 305,991 units for 5 percent market share.
At the close, the Junior Market Index declined 18.41 points to 3,963.00.
The PE Ratio, a measure of computing appropriate stock values, averages 11.1. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cream fell 29 cents and ended at $4.20 after trading 10,214 shares, Caribbean Flavours shed 12 cents to close at $1.23 with an exchange of 64,838 stocks, Consolidated Bakeries climbed 20 cents to $2.80 while exchanging a mere 13 units. Dolphin Cove increased 69 cents to end at $16.99, with stakeholders exchanging 20,925 stock units, Elite Diagnostic lost 10 cents in closing at $1.90, with 900 stock units crossing the market, Everything Fresh dipped 14 cents to $1.40 after investors exchanged 3,813 stocks. General Accident declined 26 cents to close at $4.70, with 834 units changing hands, Honey Bun dropped 34 cents to end at $6.10 in switching ownership of 2,372 shares, Image Plus Consultants dipped 8 cents in closing at $2.22 in an exchange of 2,326,364 units after posting a record intraday high of $2.55.
Iron Rock Insurance popped 40 cents and ended at $2.50 with investors transferring just four stock units, Jamaican Teas shed 10 cents in closing at $2.10 after an exchange of 33,514 shares, Lasco Distributors declined 18 cents to close at $4 in trading 150,218 stocks. Lasco Financial dropped 10 cents at $2.30 and closed after an exchange of 13,577 units, Limners and Bards fell 14 cents and ended at $2.06, with 2,000 units clearing the market, Lumber Depot lost 16 cents to end at $2 after 38,281 shares crossed the market. Paramount Trading shed 20 cents to end at $1.80 in an exchange of 45,662 stock units, Stationery and Office Supplies dropped $1.78 to close at $26 with shareholders swapping a solid 182,798 stocks days ahead of the nine for one stock split that is up for approval on Tuesday
at the company’s AGM with the ex-split data now set for July 31 with the record data moving up to August 2 from the originally stated July 25 and tTech dipped 32 cents in closing at $1.79 after 25,991 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks edged losers on Junior Market
The volume of stocks traded declined 88 percent and the value 85 percent on Tuesday on the Junior Market of the Jamaica Stock Exchange Wednesday, and ended with 44 securities trading compared with 45 on Tuesday and closed with prices of 17 rising, 16 declining and 11 closing unchanged.
Investors traded 7,810,602 shares for $20,148,012 versus 63,417,243 units at $135,258,234.
Trading averaged 177,514 shares at $457,909 compared with 1,409,272 shares at $3,005,739 on Tuesday, with the month to date averaging 332,485 units at $814,903, down from 345,350 stocks at $844,540 on the previous day. June closed with an average of 319,230 units at $854,456.
Dolla Financial led trading with 3.42 million shares for 43.8 percent of total volume, followed by iCreate with 1.62 million units for 20.7 percent of trading and MFS Capital Partners chipped in with 356,333 units for 4.6 percent market share.
At the close, the Junior Market Index rose 27.45 points to conclude trading at 3,981.41.
The PE Ratio, a measure of computing appropriate stock values, averages 11.3. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial slipped 10 cents to $24.89, with investors exchanging just three shares, AMG Packaging popped 14 cents to $2.49 in an exchange of 3,974 stocks, Blue Power increased 36 cents to $2.99 as 8 stock units passed through the market, Cargo Handlers climbed $1.90 to $21.10 after 2,500 units crossed the market, Caribbean Assurance Brokers fell 10 cents in closing at $3.10 after an exchange of 446 stocks, Caribbean Cream rallied 40 cents to $4.49 and closed after 31 units changed hands, Consolidated Bakeries dipped 30 cents to close at $2.60, with 10,486 shares clearing the market, Dolla Financial lost 15 cents to close at a 52 weeks’ low of $2.10 in trading 3,418,116 stock units, but only after hitting an intraday low of $1.71. Dolphin Cove declined 81 cents to end at $16.30 with an exchange of 10,004 stocks, 
Elite Diagnostic dropped 15 cents in closing at $2, with 143,938 units crossing the exchange, Fontana shed 20 cents to end at $10.80 after investors ended trading 295,603 shares, Future Energy Source rose 8 cents to $3.97 while exchanging 195,231 stock units, GWest Corporation gained 13 cents to close at $1.07 with a transfer of 104 shares, Honey Bun climbed 71 cents in closing at $6.44, with 9,799 units changing hands, Indies Pharma advanced 11 cents to end at $3.20 with shareholders swapping 131,400 stock units, Iron Rock Insurance declined 40 cents in ending at $2.10 after a transfer of 237 stocks, Jamaican Teas climbed 8 cents in closing at $2.20 in switching ownership of 14,811 units, KLE Group fell 20 cents to close at $1.54 after an exchange of 200 shares, Knutsford Express lost 99 cents to close at $10.51 as investors exchanged 14,497 stocks, Lasco Distributors gained 28 cents to end at $4.18, with 294,817 stock units crossing the market, MFS Capital Partners dropped 16 cents in closing at $2.54 in an exchange of 356,333 shares, 
Paramount Trading rose 20 cents and ended at $2 with investors transferring 3,990 stock units, Stationery and Office Supplies increased 78 cents to close at $27.78, with 51,444 units crossing the market and Tropical Battery rallied 13 cents to end at $2.04 as investors exchanged 64,200 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading surges
Trading jumped sharply at the close of the Junior Market of the Jamaica Stock Exchange on Tuesday, following an exchange of more than 56 million Image Plus Consultants shares that pushed the volume of stocks traded up by 708 percent and the value 499 percent higher than on Monday after trading in 45 securities up from 40 on Monday, with the market closing with prices of 14 rising, 20 declining and 11 closing unchanged.
Investors traded 63,417,243sh ares for $135,258,234 up from 7,848,690 units at $22,598,062 on Monday.
Trading averaged 1,409,272 shares at $3,005,739 up from 196,217 shares at $564,952 on Monday, with a month to date average of 345,350 units at $844,540 compared with 246,636 stock units at $644,016 on the previous day. June closed with an average of 319,230 units at $854,456.
Image Plus Consultants led trading with 56.39 million shares for 88.9 percent of total volume, followed by Fosrich with 1.49 million units for 2.3 percent of the day’s trade and Dolla Financial with 707,867 units for 1.1 percent market share.
At the close, the Junior Market Index shed 9.45 points to finish at 3,953.96.
The PE Ratio, a measure of computing appropriate stock values, averages 11.3. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial increased $2.28 to $24.99, with 11 shares crossing the exchange, Cargo Handlers gained 20 cents in closing at $19.20 after a transfer of 411 stocks, Caribbean Assurance Brokers shed 10 cents to close at $3.20, with 1,030 stock units crossing the market. Caribbean Cream dipped 55 cents to end at $4.09 with investors trading 13,408 units, Consolidated Bakeries fell 8 cents and ended at $2.90 after an exchange of 18,421 stocks, Dolla Financial advanced 9 cents to $2.25 and closed with an exchange of 707,867 stock units. Future Energy Source declined 8 cents to close at $3.89 after trading 560,624 units, GWest Corporation dropped 14 cents to 94 cents, with 42,365 shares changing hands, 
Honey Bun lost 35 cents in closing at a 52 weeks’ low of $5.73 while 53,341 stock units passed through the market. Image Plus Consultants climbed 22 cents to end at $2.29 after an exchange of 56,393,052 stock units, ISP Finance popped $4.36 in closing at $24.56 in trading 500 units, Jamaican Teas declined 21 cents to end at $2.12 with stakeholders exchanging 45,165 shares. KLE Group rallied 20 cents to $1.74 as investors exchanged 4,783 units, Medical Disposables shed $1.16 to close at $4.35 with an exchange of 8 stocks, Paramount Trading dropped 19 cents and ended at $1.80 while exchanging 50,000 shares. Regency Petroleum rose 9 cents to close at $2.75 with 153,859 stock units clearing the market,
Stationery and Office Supplies dipped $1 to end at $27 in an exchange of 180,625 units and Tropical Battery lost 8 cents and ended at $1.91 after 511,346 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market inched higher as trading climbs
Declining stocks outpaced risers at the close of trading on the Junior Market of the Jamaica Stock Exchange on Monday, as the volume and the value of stocks traded jumped 67 percent and 74 percent respectively above Friday’s outturn after trading in 40 securities down from 44 on Friday and ended with 14 rising, 21 declining and five closing unchanged.
Investors traded 7,848,690 shares for $22,598,062 up from 4,686,473 units at $13,003,928 on Friday.
Trading averaged 196,217 shares at $564,952 compared with 106,511 units at $295,544 on Friday, with the month to date, averaging 246,636 units at $644,016 compared to 251,168 stocks at $651,123 on the previous trading day. June closed with an average of 319,230 units at $854,456.
Dolla Financial led trading with 2.05 million shares for 26.1 percent of total volume, Lasco Manufacturing was next with 1.28 million units for 16.3 percent of the day’s trade and ONE on ONE Educational with 938,946 units for 12 percent market share.
At the close, the Junior Market Index popped 7.79 points to end trading at 3,963.41.
The PE Ratio, a measure of computing appropriate stock values, averages 11.3. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial fell $2.28 to close at $22.71, with 960 shares clearing the market, AMG Packaging declined 20 cents in closing at $2.29 in an exchange of 23,795 units, Blue Power dipped 37 cents and ended at $2.63 with stakeholders exchanging 32,059 stocks. Cargo Handlers climbed $1 to $19 with an exchange of 7,693 stock units, Caribbean Assurance Brokers popped 21 cents to end at $3.30 with investors trading 750 units, Caribbean Cream gained 57 cents and ended at $4.64 with a transfer of a mere 200 stock units. Consolidated Bakeries advanced 18 cents in closing at $2.98, with 2,511 stocks crossing the market, Dolla Financial shed 12 cents to end at $2.16 after investors traded 2,051,133 shares, Dolphin Cove rallied 82 cents to close at $17.12 with an exchange of 1,216 stock units. 
Everything Fresh lost 8 cents in closing at $1.52 after an exchange of 1,615 stock units, Future Energy Source climbed 16 cents to $3.97, with 119,766 units changing hands, Honey Bun dipped 42 cents to close at $6.08 after an exchange of 7,863 shares. Indies Pharma shed 15 cents in closing at $3.05, with an exchange of 261,545 stocks, ISP Finance rose 19 cents to end at $20.20 with 501 stocks being traded, Jamaican Teas rose 24 cents to $2.33, with 7,353 shares crossing the market. JFP Ltd advanced 8 cents to $1.75 after a transfer of 275,244 units, Lasco Financial increased 9 cents and ended at $2.40 following 8,867 shares that passed through the market, ONE on ONE Educational dipped 14 cents to end at a 52 weeks’ low of 95 cents before the release of nine months results, 
showing lower profit for the quarter and for the nine months compared with 2022, but investors exchanged 938,946 units and Regency Petroleum lost 8 cents in closing at $2.66 after investors ended trading 37,908 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Transjamaican out of ICTOP10
With a continually rising price, Transjamacian Highway rose 11 percent during the week to $2.78, up 57 percent since added to the Market Watch list in April and dropped out of the TOP10 this past week, while Everything Fresh closed at $1.60 and dropped out of the Junior Market TOP10.
Transjamaican Highway Gained 57% since the end of April, with more gains to come.
The Main Market continues to struggle and closed at its lowest level since the end of August 2018 based on the All Jamaica Composite Index that is down 10.7 percent for the year to date, to be highly oversold. The Junior Market fell sharply on Friday as the market pulled back from the 4,000 mark level with a modest fall year to date thus reversing last week’s positive outcome.
The Junior Market is still up 10 percent since the low in March and is currently on a big bull run over the coming months, signalled by two indicators. The Main Market is likely bottoming after the traditional sell off in May before settling off in the early summer ahead of a rebound later. The action is now with the Junior Market with more potential for growth.
For the week, 6 stocks declined and only one rose on the Junior Market and the Main Market ended with two rising and seven declining, with Caribbean Cement coming into the Main Market TOP10 and Caribbean Assurance Brokers returning to the Junior Market TOP10.
In the Junior Market, iCreate dropped 12 percent to $1.14, followed by a 10 percent decline in Caribbean Cream to $4.07, before the company released first quarter results showing marked improvements in some critical areas that lead to increased profit. Dolla Financial shed 6 percent to $2.28 after posting improved Q2 results over 2022, with profit almost doubling to $105 million and the half year climbing 92 percent to $227 million. Image Plus fell 5 percent to $2.09 following first quarter results that showed profit falling from $88 million pretax to $64 million as revenues were up 6.8 percent to $300 million. Administrative costs climbed 29 percent to $117 million.
Everything Fresh remained at $1.60, but that was all it needed to drop out of the TOP10 as Caribbean Assurance Brokers slipped from $3.30 to close at $3.09 to return to the TOP10.
While Transjamaican was the highest mover in the Main Market with the most significant change during the week and had much more room to run, Guardian Holdings declined 10 percent to $377, while Caribbean Producers fell 9 percent to $10, with all other price changes being 3 percent or less.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6, well below the market average of 13.2. The Main Market TOP10 is projected to have an average of 264 percent, by May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks are priced at a PE of 15 to 110, with an average of 31 and 21 excluding the highest PE stocks, 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.6 compared with the market at 11.4. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 44, averaging 20, well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 259 percent by May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
In the market generally, Investors continue to nibble away at a number of stocks and, in the process, gradually reducing the supply of several of them that are attractively priced as the market moves through the summer months, the start of the stock market year, when new results will be coming to the market for investors to assess and determine what to do.
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 2024 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 plunges Friday
Trading plunged on the Junior Market of the Jamaica Stock Exchange into a steep fall on Friday, with a minor slippage in the volume of stocks traded and a 15 percent lower than on Thursday with trading in 44 securities similar to activity on Thursday and ended with the prices of just 11 stocks rising compared with 27 that declined and six closing unchanged.
Investors traded 4,686,473 shares for $13,003,928 compared with 4,727,854 units at $15,265,121 on Thursday.
Trading averaged 106,511 shares at $295,544, compared with 107,451 shares at $346,935 on Thursday with the month to date, averaging 251,168 units at $651,123 compared to 267,041 stock units at $690,139 on the previous day. June closed with an average of 319,230 units at $854,456.
Lumber Depot led trading with 2.01 million shares for 43 percent of total volume followed by Dolla Financial with 485,453 units for 10.4 percent of the day’s trade and Derrimon Trading with 321,913 units for 6.9 percent market share.
At the close, the Junior Market Index dipped 61.50 points to close at 3,955.62.
The PE Ratio, a measure of computing appropriate stock values, averages 11.4. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with 
ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Cargo Handlers lost $1.50 to close at $18 after switching ownership of 3 shares, Caribbean Assurance Brokers dipped 11 cents and ended at $3.09 in an exchange of 17,944 units, Caribbean Cream shed 59 cents to close at $4.07 with 5,042 stock units changing hands, Caribbean Flavours lost 10 cents to end at $1.26 after a transfer of 10,187 stocks. Consolidated Bakeries fell 18 cents in closing at $2.80 in trading 13,983 shares, Dolphin Cove dropped 75 cents to close at $16.30 as investors exchanged 21,107 stock units, EduFocal popped 9 cents in closing at $1.88 with investors trading 37,417 units, 
Express Catering shed 17 cents to end at $5.25 after exchanging 37 stocks. Fontana rose 42 cents to close at $10.97 in switching ownership of 67,411 stock units, Fosrich declined 8 cents to end at $2.22 after trading 96,243 shares, Future Energy Source fell 15 cents to $3.81 after an exchange of 112,655 units, Honey Bun dipped 17 cents to close at $6.50 with a transfer of 193,881 stocks. Image Plus Consultants shed 21 cents to $2.09 after stakeholders ended trading 207,296 shares, Indies Pharma advanced 9 cents in closing at $3.20 with 311 stock units changing hands, Iron Rock Insurance lost 15 cents to end at $2.50 in an exchange of 10,021 stocks, ISP Finance dropped $2.99 to $20.01 with 5,004 units clearing the market. Jamaican Teas shed 25 cents to $2.09 with shareholders swapping 193,102 stocks,
Knutsford Express declined 45 cents to close at $11.50 with stakeholders exchanging 1,759 units, Lasco Financial dipped 8 cents in closing at $2.31 in exchanging 16,959 stock units, Main Event gained 9 cents in ending at $15.99 with investors trading 1,594 shares and Stationery and Office Supplies dropped 35 cents to finish at $28 as investors transferred 32,972 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.