The Junior Market of the Jamaica Stock Exchange clawed back some of Tuesday’s loss at the close of the market on Wednesday after a 36 percent fall in the volume of stocks traded, with 14 percent lower value than on Tuesday, from trading in 42 securities versus 45 on Tuesday and ended with 17 rising, 18 declining and seven closing unchanged.
A total of 4,802,262 shares were traded for $14,183,332 down from 7,508,809 units at $16,523,628 on Tuesday.
Trading averaged 114,340 shares at $337,698 versus 166,862 units at $367,192 on Tuesday, with the month to date averaging 133,407 units at $366,681 compared with 138,260 stock units at $374,059 on the previous day. November closed with an average of 259,893 units at $711,335.
Medical Disposables led trading with 875,878 shares for 18.2 percent of total volume followed by ONE on ONE Educational with 704,736 units for 14.7 percent of the day’s trade and Lumber Depot with 631,903 units for 13.2 percent market share.
At the close, the Junior Market Index gained 27.24 points to settle at 3,867.28.
The PE Ratio, a measure used to compute appropriate stock values, averages 11.8. The PE ratios of 
Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial advanced $2.48 in closing at $23.79 with an exchange of 10 shares, AMG Packaging popped 8 cents to end at $3 with investors transferring 206 units, Blue Power rose 46 cents to $3.15 after trading 862 stock units. CAC 2000 gained 27 cents to end at $8.49 after a transfer of 99 stocks, Cargo Handlers declined $3 to $9.99 with 38,732 shares clearing the market, Caribbean Assurance Brokers dipped 15 cents to $2.02 in trading 2,190 units. Caribbean Cream rallied 13 cents to end at $4 with 55 stocks crossing the exchange, 
Elite Diagnostic gained 30 cents in ending at $3.20 with the swapping of 14,566 stock units, Everything Fresh popped 14 cents to settle at $1.49 in switching ownership of 40,907 units. Fontana shed 19 cents in closing at $8.10 in an exchange of 39,528 shares, Fosrich lost 8 cents to settle at $3.92 in transferring 229,107 stocks, General Accident popped 31 cents to $4.41 in trading 11,748 stock units. GWest Corporation lost 7 cents to finish at 90 cents with the swapping of 10,361 stocks, iCreate fell 14 cents to $1.76 after an exchange of 195,242 units, Indies Pharma rallied 27 cents to close at $2.98 in switching ownership of 21,721 stock units. ISP Finance dropped $1.49 to $14.90 after exchanging 67 shares, Knutsford Express advanced 90 cents to $8.61 as investors exchanged 573 units, Lasco Distributors rose 15 cents to end at $2.95 after 3,182 shares cleared the market. Mailpac Group gained 8 cents in closing at $2.09 trading 171,513 stock units, 
Spur Tree Spices shed 25 cents to settle at $3.16 in transferring 86,781 stocks, Stationery and Office Supplies dipped 49 cents to $14.50 with 873 stocks changing hands and tTech fell 19 cents in closing at $2.96 with a transfer of 120 stock units.
In the preference segment, CAC 2000 9.5% preference share rose 8 cents to end at $1.17 in switching ownership of 101 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big fall for Junior Market on Tuesday
Stocks fell in large numbers in trading on Tuesday on the Junior Market of the Jamaica Stock Exchange after the volume of stocks traded more than double that on Monday after rising 102 percent more shares changed hands as the value of stocks traded climbed 680 percent more than on Monday after trading took place in 45 securities up from 43 on Monday and ended with 13 rising, 28 declining and four closing unchanged.
A total of 7,508,809 shares were traded for $16,523,628 compared to 3,722,443 units at $9,822,437 on Monday.
Trading averaged 166,862 shares at $367,192 compared with 86,568 units at $228,429 on Monday with a month to date average of 138,260 units at $374,059 compared to 127,534 stock units at $376,634 on the previous day. November ended with an average of 259,893 units at $711,335.
Everything Fresh led trading with 3.27 million shares for 43.6 percent of total volume followed by ONE on ONE Educational with 673,767 units for 9 percent of the day’s trade and Fosrich with 585,693 units for 7.8 percent market share.
At the close, the Junior Market Index dropped 59.27 points to settle at 3,840.04.
The PE Ratio, a measure of computing appropriate stock values, averages 11.9. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Cargo Handlers fell 72 cents in ending at $12.99 with 110 shares clearing the market, Caribbean Flavours lost 14 cents to finish at $1.65 with investors transferring 12,225 units, Dolphin Cove popped 15 cents to $14.20 in switching ownership of 1,978 stock units. EduFocal declined 19 cents to close at $2.30 after 462,836 stocks crossed the exchange, Elite 
Diagnostic shed 59 cents in closing at $2.90 after hitting an intraday 52 weeks’ low of $2.50after 16,060 stocks changed hands, Everything Fresh gained 12 cents in closing at $1.35 trading 3,274,985 stock units. Express Catering advanced 25 cents to $5.05 with an exchange of 34,894 units, but only after hitting an intraday 52 weeks’ low of $4.15, Fosrich dipped 16 cents to $4 in transferring 585,693 shares, General Accident lost 14 cents to close at $4.10 with an exchange of 20,067 units. KLE Group climbed 31 cents to $1.99 with the swapping of just 100 shares, Knutsford Express declined 21 cents to $7.71 in switching ownership of 13,350 stocks, Lasco Distributors fell 10 cents to $2.80 in trading 442,768 stock units. Main Event advanced 40 cents to $10 after 53,400 stock units passed through the market, Medical Disposables dipped 82 cents to $4.51 after trading 2,000 stocks, 
MFS Capital Partners shed 15 cents to close at $2.85 with the swapping of 59,701 units. Spur Tree Spices rallied 14 cents in ending at $3.41 after a transfer of 105,666 shares and tTech lost 12 cents to close at $3.15 in an exchange of a mere 105 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Juniors edged higher on Monday
The Junior Market of the Jamaica Stock Exchange inched higher at the close on Monday, with a 12 percent decline in the volume of stocks traded as the value of stocks traded dropped 33 percent from trading on Friday with 43 securities trading versus 37 on Friday and ended with 20 rising, 17 declining and six closing unchanged.
A total of 3,722,443 shares were exchanged for $9,822,437 against 4,242,438 units at $14,592,692 on Friday.
Trading averaged 86,568 shares at $228,429 compared with 114,660 units at $394,397 on Friday, with the month to date, averaging 127,534 units at $376,634 versus 150,411 stock units at $459,398 on the prior trading day. November closed with an average of 259,893 units at $711,335.
Dolla Financial led trading with 660,397 shares for 17.7 percent of total volume followed by MFS Capital Partners with 444,314 units for 11.9 percent of the day’s trade and EduFocal with 412,969 units for 11.1 percent market share.
At the close, the Junior Market Index popped 2.03 points to close at 3,899.31.
The PE Ratio, a measure of computing appropriate stock values, averages 12. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer Indicator shows five stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Blue Power shed 47 cents to end at $2.71, with 823 shares crossing the market, CAC 2000 increased $1.07 to $8.22 with the swapping of 7,454 stock units, Caribbean Assurance Brokers climbed 17 cents in closing at $2.22 in trading 22,873 units. Consolidated Bakeries rose 18 cents to close at $1.98 with 24,454 stocks changing hands, Dolphin Cove gained 55 cents ending at $14.05, with 3,211 stock units crossing the exchange, Elite 
Diagnostic rallied 45 cents in closing at $3.49 with investors transferring 66 stocks. Everything Fresh dropped 17 cents to end at $1.23, with 93,491 units clearing the market, Express Catering declined 15 cents in ending at $4.80 with an exchange of 1,240 shares, General Accident fell 76 cents to $4.24 after trading at 12,124 stocks. Honey Bun advanced $1 to close at $7.90 while exchanging 636 shares, Indies Pharma lost 14 cents to end at $2.65 after an exchange of 39,821 units, JFP Ltd dipped 11 cents to close at $1.49 after 390,405 stock units changed hands. KLE Group dropped 30 cents in closing at $1.68 in exchanging 1,000 units, Lasco Financial popped 26 cents in ending at $3 trading 3,755 shares, Limners and Bards dipped 15 cents to $2.45 as 101,155 stock units passed through the market. Main Event lost 40 cents to end at $9.60, with stocks 2,929 crossing the market, MFS Capital Partners popped 11 cents to close at $3 with 444,314 units changing hands, 
Spur Tree Spices shed 18 cents in closing at $3.27 in exchanging 133,432 stocks and Stationery and Office Supplies rose 75 cents to $15 in switching ownership of a mere 33 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New ICTOP10 listing
The Jamaica Stock Main Market recorded gains to close out the past week on a positive note, the second week that this is happening but the Junior Market Index was flat for a second week, and both markets enjoyed some sizable price movements that are in ICTOP10 lists.
Access Financial that dropped out of the Junior Market TOP10 last week returns with the price at $21.31 replacing Medical Disposables after the latter rose 7 percent for the week to $5.33. There were no new listings for the Main Market 10.
Only two Junior Market TOP10 stocks declined this past week with the rest gaining. Elite Diagnostic dropped 13 percent to $3.04 and Lasco Financial fell 9 percent to close at $2.74. Paramount Trading jumped 14 percent to $1.95, followed by Iron Rock Insurance with a rise of 12 percent to $2.45.
The Main Market 10 had four rising stocks and five declining. 138 Student Living rose 14 percent to $5.20, Key Insurance was up 10 percent to $3.68 and Jamaica Broilers gained 4 percent to $28. Guardian Holdings fell 11 percent to $495, Berger Paints fell 6 percent to $9.45 and Radio Jamaica dipped 4 percent to $1.90.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.7, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.1, important indicators of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 242 percent and the Main Market TOP10 an average now of 271 percent, to May 2023.
The Junior Market has 13 stocks representing 28 percent of the market, with PEs from 15 to 34, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 17.5 and shows the extent of potential gains that lie ahead 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 88, with an average of 29.6 and 21.7 excluding the highest valued ones and 19 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Most Junior Market stocks rise than fall
The Junior Market of the Jamaica Stock Exchange lost more altitude on Friday, with the level of trading declining from that on Thursday as the volume of stocks traded fell 42 percent after a 30 percent lower value after trading ended with 37 securities versus 40 on Thursday and closed with 20 rising, 14 declining and three closing unchanged.
At the close, the Junior Market Index shed 11.28 points to settle at 3,897.28.
A total of 4,242,438 shares were traded for $14,592,692 versus 7,339,207 units at $20,780,968 on Thursday.
Trading averaged 114,660 shares at $394,397 compared with 183,480 units at $519,524 on Thursday with the month to date, averaging 150,411 units at $459,398. November closed with an average of 259,893 units at $711,335.
Dolla Financial led trading with 1.38 million shares for 32.5 percent of total volume followed by Future Energy Source with 807,975 units for 19 percent of the day’s trade and MFS Capital Partners with 427,110 units for 10.1 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 companies with financial year end that falls between November this year and August 2023.
The 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 of the market, AMG Packaging lost 20 cents to close at $2.92 in an exchange of just eight shares, Cargo Handlers popped 71 cents to end at $13.71 with 3,280 stock units changing hands, Caribbean Assurance Brokers shares were marked down by 14 cents to $2.05 after trading 20,286 units. 
Dolphin Cove gained 45 cents in ending at $13.50 after 3,017 stocks passed through the market, Elite Diagnostic dipped 46 cents in closing at $3.04 in trading 1,821 stocks, Express Catering gained 38 cents in closing at $4.95 after swapping 60,824 units. Fontana fell 63 cents to $8.22 with an exchange of 182,071 shares, Honey Bun gained 10 cents to settle at $6.90 while transferring 1,191 stock units, Indies Pharma advanced 20 cents to $2.79 in switching ownership of 688 shares. KLE Group rallied 18 cents to close at $1.98 in exchanging 23,749 stock units, Lasco Financial was marked down by 28 cents to $2.74 in switching ownership of 37,866 stocks, MFS Capital Partners rose 10 cents to $2.89 with a transfer of 427,110 units. Spur Tree Spices climbed 28 cents to $3.45 as investors exchanged 96,612 stock units, Stationery and Office Supplies shed 40 cents to close at $14.25 with a transfer of 6,145 shares and 
Tropical Battery gained 10 cents to close at $2.50 in exchanging 329,862 units.
In the preference segment, CAC 2000 9.5% preference share were marked up by 15 cents in closing at $1.09 with an exchange of 22,959 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks push Junior Market down
Just nine stocks rose, 19 declined and 12 ended unchanged on the Junior Market of the Jamaica Stock Exchange on Thursday, resulting in the market index dropping 70.39 points to close at 3,908.56, with the volume of stocks traded declining 61 percent and the value 66 percent lower than on Wednesday from the trading of 40 securities down from 42 on Wednesday.
A total of 7,339,207 shares were traded for $20,780,968 compared with 18,836,649 units at $60,904,034 on Wednesday.
Thursday’s trading averaged 183,480 shares at $519,524 compared with 448,492 units at $1,450,096 on Wednesday. November ended with an average of 259,968 units at $710,630.
MFS Capital Partners led trading with 3.23 million shares for 44 percent of total volume followed by Dolla Financial with 1.24 million units for 16.9 percent of the day’s trade and ONE on ONE Educational with 501,110 units for 6.8 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.1. 
The PE ratios of Junior Market stocks incorporate projected earnings computed by ICInsider.com for companies with financial year that falls between November this year and August 2023.
The 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 dipped $4.19 to $21.31 in an exchange of 1,908 shares, Cargo Handlers gained 20 cents to close at $13 with 5,000 units clearing the market, Caribbean Flavours fell 10 cents to end at $1.73 after 28,958 stocks crossed the market. Elite Diagnostic advanced 20 cents to $3.50 trading 122,822 stock units, 
Express Catering declined 43 cents in ending at $4.57 with the swapping of 13,774 stocks, Fontana popped 35 cents to settle at $8.85 after a transfer of 45,901 stock units. Fosrich lost 17 cents in closing at $4.05 in exchanging 22,595 shares, Indies Pharma shed 53 cents to close at $2.59 with 320 units changing hands, Iron Rock Insurance rose 38 cents to $2.45 as investors swapped a mere six shares.ISP Finance climbed $1.49 to $16.39 in transferring 13,125 stocks, JFP Ltd dropped 16 cents to close at $1.60 in trading 100,523 stock units, Knutsford Express shed $1.06 after ending at $7.92 with an exchange of 338 units. Limners and Bards lost 15 cents to finish at $2.65 with 16,487 shares clearing the market, Lumber Depot dipped 14 cents to $2.30 after exchanging 136,271 units, MFS Capital Partners rallied 27 cents in closing at $2.79 with investors transferring 3,229,717 stock units.
Spur Tree Spices dropped 63 cents to end at $3.17 as investors switched ownership of 248,340 stocks and tTech gained 31 cents to close at $3.27 after 225 shares crossed the market.
Prices of securities trading are those for the
Stocks surged on the Junior Market
Stocks surged in trading on the Junior Market of the Jamaica Stock Exchange, with the Market Index jumping a solid 86.80 points to 3,978.95 at the close on Wednesday after a 318 percent rise in the volume of stocks traded and a 401 percent increase in value compared to Tuesday following trading in 42 securities versus 41 on Tuesday and ended with 25 rising, 13 declining and four closing unchanged.
Investors traded 18,836,649 shares for $60,904,034, up sharply from 4,506,827 units at $12,167,838 on Tuesday.
Trading averaged 448,492 shares at $1,450,096, up from a mere 109,923 units at $296,777 on Tuesday, with the month to date averaging 259,968 units at $711,335 compared to 250,933 stock units at $676,433 on the previous day. October closed with an average of 264,407 units at $832,036.
Spur Tree Spices led trading with 9.75 million shares for 51.8 percent of total volume, followed by ONE on ONE Educational with 4.20 million units for 22.3 percent of the day’s trade and MFS Capital Partners with 1.72 million units for 9.1 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.3. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
The Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial advanced $4.83 to $25.50 as investors exchanged 98,254 shares, AMG Packaging gained 20 cents to close at $3.12, with investors trading 14,149 stocks, Cargo Handlers rallied $1.16 to $12.80 with the swapping of just one unit. Derrimon Trading rose 15 cents to $2.20 with a transfer of 299,226 stock units, Dolphin Cove lost 30 cents in closing at $13.10 after trading 126,200 stocks, Fontana gained 11 cents in ending at $8.50 with 175,753 stock units changing hands. Fosrich gained 22 cents to close at $4.22 as investors switched ownership of 59,591 units, Honey Bun popped 15 cents to $6.80 after trading 9,720 shares, 
Indies Pharma advanced 42 cents in closing at $3.12 with an exchange of 171,991 shares. Iron Rock Insurance gained 27 cents to end at $2.07 with the swapping of 1,049 stock units, JFP Ltd popped 15 cents in closing at $1.76 with 360,225 stocks, clearing the market Knutsford Express rallied 10 cents to end at $8.98 with an exchange of 251,995 units. Main Event gained 20 cents to close at $10 after 4,096 shares changed hands, Medical Disposables rose 25 cents to $5.25 in transferring 1,000 stock units, MFS Capital Partners dropped 27 cents to $2.52 in trading 1,720,740 units. Paramount Trading gained 24 cents to end at $1.95 with 29,838 stocks passing through the market, Spur Tree Spices climbed 88 cents to $3.80 after a transfer of 9,748,779 stock units, 
Stationery and Office Supplies rose 35 cents to $14.65 after trading 900 shares. Tropical Battery rallied 11 cents in closing at $2.45 with an exchange of 93,175 units and tTech shed 31 cents to $2.96 with the transfer of 379 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market jumps
A 12 percent fall in the volume of stocks traded, following an 11 percent decline in the value of funds entering the Junior Market of the Jamaica Stock Exchange on Tuesday, but the declined in trading failed to stop the market from rising at the close, with trading in 41 securities against 42 on Monday, ending with 18 rising, 14 declining and 9 closing unchanged.
A total of 4,506,827 shares valued at $12,167,838 were traded compared to 5,099,286 units at $13,601,067 on Monday.
Trading averaged 109,923 shares at $296,777 compared with 121,412 units at $323,835 on Monday, with a month to date average of 250,933 units at $676,433 compared to 257,803 stock units at $694,789 on the previous day. October closed with an average of 264,407 units at $832,036.
ONE on ONE Educational led trading with 785,329 shares for 17.4 percent of total volume, followed by JFP Ltd with 485,798 units for 10.8 percent of the day’s trade and Dolla Financial with 445,647 units for 9.9 percent market share.
At the close, the Junior Market Index jumped 40.33 points to settle at 3,892.15.
The PE Ratio, a measure of computing appropriate stock values, averages 12.2. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Blue Power rose 51 cents to $3.20 with 82 shares clearing the market,
Cargo Handlers jumped $2.14 to $11.64 in trading 118 stock units, Consolidated Bakeries dipped 30 cents ending at $1.80 after 14,400 stocks passed through the market. Dolphin Cove gained 10 cents in closing at $13.40 with the swapping of 4,645 units, iCreate increased 8 cents to $1.94 in switching ownership of 35,766 shares, Indies Pharma rallied 8 cents to close at $2.70 in transferring 3,702 units. JFP Ltd popped 13 cents in ending at $1.61 with an exchange of 485,798 stock units, Limners and Bards gained 16 cents to settle at $2.76 in trading 2,029 stocks, Lumber Depot popped 11 cents to end at $2.42 in exchanging 283,339 stocks. Main Event shed 20 cents in closing at $9.80 after a transfer of 56,070 shares, MFS Capital Partners advanced 13 cents to $2.79 with investors transferring 346,960 stock units and 
Tropical Battery fell 12 cents in closing at $2.34 with an exchange of 77,339 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading jumps
Trading jumped on the Junior Market of the Jamaica Stock Exchange Monday with an 83 percent rise in the volume of stocks traded, valued at 60 percent more than on Friday with trading in 42 securities versus 41 on Friday to end with ten rising, 22 declining and ten closing unchanged.
A total of 5,099,286 shares were traded for $13,601,067 compared with 2,791,802 units at $8,477,949 on Friday.
Trading averaged 121,412 shares at $323,835 compared with 68,093 units at $206,779 on Friday, with a month to date average of 257,803 units at $694,789 compared to 264,910 stock units at $714,119 on the previous trading day. October ended with an average of 264,407 units at $832,036.
Dolla Financial led trading with 1.31 million shares for 25.8 percent of total volume, Jetcon Corporation was next with 850,000 units for 16.7 percent of the day’s trade and ONE on ONE Educational with 786,772 units for 15.4 percent market share.
At the close, the Junior Market Index lost 18.42 points to settle at 3,851.82.
The PE Ratio, a measure used in the computing of appropriate stock values, averages 12. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
The Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial dropped $2.34 in closing at $20.66 with investors transferring 2,218 shares, Blue Power shed 48 cents to end at $2.69 after an exchange of 3,100 stock units, Cargo Handlers gained 50 cents to settle at $9.50, with 250 stocks crossing the market. Consolidated Bakeries lost 19 cents after ending at $2.10 with 10,725 units changing hands, 
Dolla Financial dipped 11 cents to $3.16, trading 1,313,389 stock units, Dolphin Cove advanced 17 cents to $13.30 in transferring 16,067 units. Elite Diagnostic fell 19 cents to end at $3.30 with an exchange of 6,600 shares, Everything Fresh rose 15 cents to $1.45 as investors swapped 19,067 stocks, Fontana shed 10 cents to close at $8.40 in an exchange of 26,477 stock units. Fosrich fell 10 cents to $4.05 as investors switched ownership of 485,062 shares, Indies Pharma lost 13 cents after ending at a 52 weeks’ low of $2.62 and trading 44,511 units, Iron Rock Insurance shed 42 cents in closing at a 52 weeks’ low of $1.76 after a transfer of 374 stocks. Knutsford Express gained 48 cents to finish at $8.88 with an exchange of 6,622 shares, Lumber Depot dipped 14 cents to $2.31 with a transfer of 87,095 stock units, MFS Capital Partners rallied 14 cents to $2.66 after 42,375 stocks cleared the market.
Stationery and Office Supplies shed 70 cents to $14.30 in an exchange of 579 units and tTech popped 43 cents to $3.28 in exchanging 50,855 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
IPO closure lifts ICTOP10
The Jamaica Stock Main Market recorded gains to close out the past week on a positive note, but the performance only resulted in moderate changes in prices of ICTOP10 Main Market stocks, the Junior Market Index was flat compared with the prior week but resulted in some sizable price changes with one stock dropping out of the TOP10 as the Initial Public offer of Regency Petroleum shares was oversubscribed and closed and liquidity started returning to the market.
Access Financial dropped out of the Junior Market TOP10 after rising 11 percent for the week in making way for Medical Disposables to return.
Unlike last week when seven Junior Market TOP10 stocks declined between 3 percent and 20 percent, with only one rising this week. Rising stocks dominated, with five gaining 3 percent or more while three declined. CAC2000 ordinary share fell 15 percent to $7.06, Iron Rock Insurance was down 5 percent to $2.18 and Dolphin Cove lost 3 percent to close at $13.13. In the Junior Market, Paramount Trading recovered some of last week’s loss by rising 13 percent to $1.71, Lasco Financial popped 11 percent to close at $3, while Elite Diagnostic rose 4 percent to $3.49.
The Main Market 10 had just two stocks rising for a second week and six declining between four and nine percent last week. This past week, four rose 2 percent and 3 percent.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.7, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.9 versus the market at 12, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 246 percent and the Main Market TOP10, an average now of 269 percent, to May 2023.
The Junior Market has 12 stocks representing a third of the market, with PEs from 15 to 35, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 17. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the Main Market is similar, with the 16 highest valued stocks priced at a PE of 15 to 73, with an average of 24.7 and 21.7 excluding the highest valued one and 19 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, 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.