The total volume of shares trading spiked 562 percent on Monday than on Friday, ended with the value rising 160 percent at the close of trading on the Jamaica Stock Exchange US dollar market and the market index lost 0.05 points to 200.46.
Trading ended with six securities changing hands, similar to Friday, with three rising, two declining and one ending unchanged.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 12.6 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, a total of 1,161,401 shares traded for US$79,940 up from 175,570 units at US$30,696 on Friday.
Trading averaged 193,567 units at US$13,323, in contrast to 29,262 shares at US$5,116 on Friday. Trading averaged 128,890 units for the month to date at US$5,289 in contrast to 113,965 units at US$3,435 on Friday. May ended with an average of 138,035 units for US$17,391.
Investor’s Choice bid-offer indicator shows no stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Capital ended trading of one share at 9 US cents, Margaritaville lost 0.9 of a cent to close at 9 US cents after 176,842 units crossed the market, Proven Investments gained 0.1 of a cent to end at 26.09 US cents, with 164,560 stock units changing hands. Sterling Investments rose 0.09 of a cent in ending at 2.39 US cents after 814,150 stock units cleared the market and Sygnus Credit Investments dropped 0.29 of a cent to 15.01 US cents in trading 5,800 stock units.
In the preference segment, JMMB Group 5.75% increased 3 cents in ending at US$2.05 with 48 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on JSE USD Market
Trading volume and value dive on TTSE
Market activity ended on Monday, with the market declining and resulted in the number and value of shares trading falling 74 percent below Friday’s levels, and ended with more stocks falling than rising at the close of trading on the Trinidad and Tobago Stock Exchange.
At the close, 19 traded up from 16 on Friday, with four stocks rising, six declining and nine ending unchanged. The Composite Index declined 5.87 points to settle at 1,383.01, the All T&T Index rose 1.06 points to settle at 1,882.13 and the Cross-Listed Index fell 1.86 points to settle at 118.96.
A total of, 636,349 shares traded for $6,954,185, from 2,464,269 units at $27,008,235 on Friday.
An average of units traded at $366,035 compared to 154,017 at $1,688,015 on Friday. The average trade for the month to date amounts to 76,054 units at $850,722 versus 90,757 units at $1,018,133. May ended with the average trade of 25,935 units at $406,593.
The Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s finished trading 1,400 shares at $24.40, Angostura Holdings rose 5 cents to $15 after an exchange of 3,599 stocks, Clico Investment Fund declined $1.43 to $25.53 trading 16,620 stocks, Endeavour Holdings dipped 1 cent in closing at a 52 weeks’ low of $7.99 in exchanging 60 stock units. First Citizens Bank remained at $50.10 in an exchange of 660 shares. FirstCaribbean International Bank ended at $6.49 in switching ownership of 2,700 units, Grace Kennedy popped 17 cents to close at $5.25 after trading 60,782 units, Guardian Holdings fell 5 cents to $35 in trading 24,893 shares. JMMB Group ended at $1.81, exchanging 102,354 units, Massy Holdings rose 24 cents to $70 after 10 shares changed hands, National Flour Mills stayed at $2.30 with an exchange of 200 units. NCB Financial Group climbed 27 cents to $8.49, with 364,948 units changing hands, One Caribbean Media fell 20 cents to $4.60, with 2,448 units clearing the market, Prestige Holdings settled at $6.55 after an exchange of 941 stocks. Republic Financial Holdings settled at $134.95, with 1,389 stock units crossing the market, Scotiabank closed at $57 after an exchange of 11,350 stocks, Trinidad & Tobago NGL declined 16 cents to $17.33, with 2,066 stock units changing hands. Unilever Caribbean finished trading 9,429 shares at $16.33 and West Indian Tobacco dipped 1 cent to close at $32.19 in exchanging 30,500 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
SOS back in ICTOP10 stocks
Main Event price popped nearly 14 percent from $4.65 last week to $5.28 following this week’s public forum the company CEO presented, leading the stock to dropped out of the Junior Market ICTOP10 and Stationery and Office Supplies price dipped to $7.52 and moved in to fill the slot left by Main Event.
Prices of some ICTOP10 stocks bounced around during the week, resulting in changes within the list as a result. The average gains projected for the Junior Market fell from 218 percent last week to 216 percent. The average projected gains for Main Market stocks moved up last week, from 162 to 169 percent, are up again this week to 171 percent.
The markets continue to face resistance, with the Junior Market trading at the very top of its upward sloping channel while the JSE Main Market sits a few thousand points away and facing turbulence in getting to the peak. The recent release of results by two Lasco companies did not move the market this past week, investors are likely to be looking at a sideward moving market until later in the month, in keeping with the historical pattern of a recess after the completion of earnings season.
The Junior Market Index closed the week at 3,339.02, slightly up from 3,329.50, last week, after it was up moderately from 3,324 at the end of the previous week. The JSE All Jamaica Composite Index ended at 456,395.73 on Friday, up from 454,375.81 at the close of the previous week.
The Junior Market has to decidedly break the upper limit of the current upward sloping trading channel to free it to move on to the next area of resistance, of just over 4,000 mark, but the Main Market has room to run for a few thousand points before it hits the channel top at 460,000 points which it came close to on Friday at 459,758 before pulling back.
The top three stocks in the Junior Market for this week, are Elite Diagnostic, followed by Medical Disposables and Caribbean Producers, with the potential to gain between 238 to 300 percent. The top three Main Market stocks are Radio Jamaica, followed by PanJam Investments and Wisynco Group, with expected gains of 153 to 371 percent. The latter potential gain is based on earnings for the financial year starting in July, investors should not expect an early upward movement for the price until after the release of full year results to June this year, around the end of August.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March, with the average PE at 17 for Junior Market stocks and 19 for the Main Market.
The Junior Market with an average PE of 12.3 based on ICInsider.com’s 2021-22 earnings, is currently trading below the target, as well as the recent historical average of 17, this represents another 37 percent rise in the market that would equate to a rise of 63 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.5 at just 52 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16.2, some distance from the 19 the market ended March, suggesting a 23 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.7 or 48 percent of the PE of that market and well off the potential of 20.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Gains no losses for JSE USD Market
Trading on Friday ended after 17.6 percent more shares were traded than on Thursday, leading to the Jamaica Stock Exchange US dollar market rising as six securities changed hands, from seven on Thursday with four stocks rising and two remaining unchanged.
Trading ended with the JSE USD Equity Index rallying 3.19 points to close at 200.51. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 12.5 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 175,570 shares traded for US$30,696 compared to 149,296 units at US$18,104 on Thursday.
Trading averaged 29,262 units at US$5,116, in contrast to 21,328 shares at US$2,586 on Thursday. Trading averaged 113,965 units for the month to date at US$3,435 in contrast to 139,376 units at US$2,930 on Thursday. May ended with an average of 138,035 units for US$17,391.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital settled at 9 US cents after 10,814 shares were traded, Productive Business Solutions remained at 80 US cents with 108 stock units changing hands, Proven Investments popped 0.99 of a cent to 25.99 US cents with 108,096 shares changing hands. Sterling Investments rose 0.25 of a cent in closing at 2.3 US cents after exchanging 39,116 units, Sygnus Credit Investments rose 0.1 of a cent to 15.3 US cents, with 3,717 stock units crossing the exchange and Transjamaican Highway popped 0.01 of a cent to 0.92 of a US cent in trading 13,719 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Spike in T&TSE trading on Friday
Market activity ended on Friday with a rise in all three indices after a huge jump in the volume and value of trading but with fewer securities trading at the close of the Trinidad and Tobago Stock Exchange, after the volume of stack trading rocketed 326 percent and the value spiked 269 shares above Wednesday trades.
At the close of trading, 16 traded compared to 19 on Wednesday, with three stocks rising, four declining and nine ending unchanged. The Composite Index rose 3.26 points to 1,388.88, the All T$T Index gained 4.62 points to 1,881.07 and the Cross-Listed Index popped 0.25 points to end at 120.82.
A total of 2,464,269 shares traded for $27,008,235 compared to 578,611 units at $7,318,842 on Wednesday.
Trading averaged 154,017 units at $1,688,015 compared to 30,453 at $385,202 on Wednesday. The average trade for the month to date amounts to 90,757 shares at $1,018,150, compared to 64,804 units at $743,333 on Wednesday. May averaged 25,935 units at $406,593.
The Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than its last selling prices and three with lower offers.
At the close, Agostini’s traded 313,225 shares at $24.40, Angostura Holdings closed at $14.95 after exchanging 183 stock units, Clico Investment Fund ended at $26.96 with 59,110 stock units changing hands, First Citizens Bank rose by 10 cents to $50, after 37,856 stocks crossed the exchange. Grace Kennedy lost 17 cents in closing at $5.08 with 4,805 shares changing hands, Guardian Holdings spiked $1.05 higher to close at a 52 weeks’ high of $35.05 in switching ownership of 48,766 stocks. JMMB Group rose 6 cents to $1.81 with a transfer of 464,743 stock units, Massy Holdings remained at $69.76 after exchanging 61 units, National Enterprises closed at $3 with the swapping of 634 stocks. National Flour exchanged 3,000 shares at $2.30, NCB Financial Group remained at $8.50, trading 1,519,193 shares, Republic Financial Holdings traded 35 stock units at $134.95, Scotiabank ended at $57 after exchanging 4,649 shares, Trinidad & Tobago NGL slipped 1 cent to $17.49 in trading 3,320 units Unilever Caribbean finished at $16.33 with the swapping of 1,384 stocks and West Indian Tobacco lost 30 cents to close at $32.20 in transferring 3,305 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Modest gains for JSE USD Market
Stocks rose modestly on the USD Market on Thursday, after seven securities traded on Thursday compared to five on Wednesday, with the prices of four rising and three declining at the close of the US dollar market of the Jamaica Stock Exchange and ended, with JSE USD Equities Index popping 0.27 points to end at 197.32.
The PE Ratio, a measure that determines an appropriate value of each stock, averages 12.5 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, the volume of stocks traded rose moderately on Thursday, with 149,296 shares changing hands for US$18,104, up from 129,505 units at US$12,398 on Wednesday.
Trading averaged 21,328 units at US$2,586, in contrast to 25,901 shares at US$2,480 on Wednesday. Month-to-date trading averages 139,376 units at US$2,930 in contrast to 202,941 units at US$3,115 on Tuesday. May averaged 138,035 units for US$17,391.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close, First Rock Capital rose 0.01 of a cent to 9 US cents after trading 13,500 shares, Margaritaville advanced 0.9 of a cent to 9.9 US cents with 3,984 stock units traded, MPC Caribbean Clean Energy slipped 2 cents to 93 US cents trading 500 units. Proven Investments declined 0.9 of a cent to end at 25 US cents with 50,282 shares changing hands, Sterling Investments rose 0.05 of a cent to 2.05 US cents with 24,297 stocks traded, Sygnus Credit Investments declined by 0.29 of a cent to 15.2 US cents with a transfer of 16,733 units and Transjamaican Highway rallied 0.06 of a cent to land at 0.91 US cents with 40,000 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.