Investors continued to be mildly aggressive for a second straight day pushing all major indices on the Jamaica Stock Exchange on Monday to their highest levels since October 23, as the market appears to be on a rebound heading towards year-end.
Market activity ended with 40 securities changing hands in the main and US dollar markets with 18 advancing, 15 declining and 7 trading firm, resulting in the All Jamaican Composite Index climbing 2,272.30 points to 547,262.61. The JSE Index gained 2,054.60 points to 498,368.63 and the JSE Financial Index inched 0.49 points higher to 135.30.
Main market activity ended with 37 securities trading and accounting for 33,964,316 units valued at $265,890,078 in contrast to 16,549,353 units valued at $101,400,917 on Friday from 36 securities.
Wigton Windfarm dominated trading with 22.5 million shares for 66 percent of total volume, followed by Sagicor Select Funds with 7 million units accounting for 21 percent of the day’s trade and Caribbean Cement with 1 million units for 3 percent stocks changing hands.
The market closed with an average of 917,954 units valued at an average of $7,186,218 for each security traded, in contrast to 459,704 units valued at an average of $2,816,692 on Friday. The average volume and value for the month to date amounts to 402,092 units valued at $3,802,123 and previously, an average of 324,817 units valued at $3,211,502 for each security changing hands. The market closed October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 13 stocks ending with bids higher than their last selling prices and 6 with lower offers. The PE ratio of the market ended at 16.7, with the main market ending at 17.3 times 2019 current year’s earnings.
In main market activity, Berger Paints lost 50 cents to close at $18, after a mere 472 units crossed the exchange, Caribbean Cement ended at $77, losing $1.50 in trading 1,023,294 shares, Grace Kennedy closed 31 cents higher at $67.31 with 2,427 shares changing hands. Jamaica Broilers added 30 cents to settle at $36, with 3,100 units traded, Jamaica Producers lost 50 cents and ended at $21.50, in swapping 126,626 shares. Jamaica Stock Exchange rose to close at $31.98, after gaining 98 cents in exchanging 51,503 shares. Mayberry Equities gained 90 cents to close at $11 trading 135,530 shares, NCB Financial settled at $210, after climbing $5.05 after trading 548,908 units, 138 Student Living dropped $1.15 to close at $2.85 with 55,237 passing through the exchange, PanJam Investment rose $1.50 to $99, after the swapping of 22,018 shares. Proven Investments dropped $2 to $45 with 1,000 units trading, Sagicor Group gained $1, settling at $65 after exchanging 263,622 shares, Salada Foods ended the day’s trade at $30, after losing $2.50 with 3,500 units traded. Scotia Group added 30 cents, rising to $55.30 with 63,427 changing hands, Seprod settled at $53 with gains of 49 cents from swapping 65,402 shares, Stanley Motta closed 58 cents higher to $6, after trading 4,850 units. Supreme Ventures gained 50 cents to end the day at $26 after exchanging 51,484 shares and Victoria Mutual Investments closed 99 cents higher to settle at $7.99 with 55,150 shares changing hands.
Trading in the US dollar market closed with 107.522 units valued at US$27,532, with the market gaining 0.94 points to end at 194.56. Proven Investments exchanged 101,622 units at 52 weeks’ high of 30 US cents, after rising 3.99 US cents, Sygnus Credit Investments closed at 14 US cents after trading 5,800 units and Sterling Investments ended at 2.4 US cents with 100 units changing hands.
Drop in trading on TTSE – Monday
Trinidad & Tobago Stock Exchange experienced a sharp fall-off in the number and volume of shares trading on Monday, with just 10 securities changing hands, down from 17 stocks on Friday.
Trading resulted in just 73,786 units changing ahnds for a mere $577,401, compared to 389,919 shares trading for $7,052,818 on Friday.
At the close of the market, the prices of 2 stocks rose, 5 declined and 3 remained unchanged, leading to the Composite Index dropping 6.23 points to 1,409.40. The All T&T Index rose 2.44 points to 1,767.23, while the Cross Listed Index declined 2.07 points to close at 142.49.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 6 stocks with bids lower than their last selling prices and 2 with lower offers.
Gains| First Citizens Bank ended at a 52 weeks’ high of $41.85, ended at 85 with swapping of 99 shares, and LJ Williams rose 10 cents to settle at a 52 weeks’ high of $1.10, trading 49,000 stock units.
Losses| First Caribbean International Bank dropped 49 cents to end at a 52 weeks’ low of $8.50, with investors exchanging 16,800 shares, Massy Holdings lost 1 cent and concluded trading of 3,636 stock units at $56.05. One Caribbean Media ended 2 cents lower and settled at $9.98, with 100 units changing hands, Point Lisas shares fell 2 cents and closed at $3.58, with 500 units crossing the exchange and Trinidad & Tobago NGL shed 1 cent in exchanging 680 shares to close at $25.49.
Firm Trades| Clico Investment Fund completed trading at $24.07, with 416 units crossing the exchange, Sagicor Financial settled at $10.68, while exchanging 200 units and Scotiabank had 2,355 stock units changing hands to end at $59.47.
Prices of securities trading are those at which the last trade took place.
Two new entries to IC TOP 10
The vast majority of listed companies on the Jamaica Stock Exchange will be releasing quarterly results by the end of the week and that could result in significant price movements for some. The major moves should apply mostly in the Junior Market that has several undervalued stocks.
The main market TOP 10 has two new additions this week with Pulse Investments surging back into the list with robust first-quarter results, suggesting that profit for the year could reach 50 cents per share. Scotia Group also returned to the top flight while Eppley and Proven Investments exited the listing. There was no change to the Junior Market TOP 10 list.
The top three Junior Market stocks continue to be led by Caribbean Producers with projected gains of 254 percent, followed by Iron Rock Insurance with a potential rise of 232 percent and Main Event with 221 percent.
Radio Jamaica remains the lead stock with projected gains of 170 percent, followed by Carreras in the number two spot with likely increases of 106 percent and Berger Paints with projected growth of 95 percent is next.
The main market closed the week with the overall PE of 17.6, up from 17.2 and the Junior Market at 12.1 from 11.8, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.5, with the main market PE at 10.6.
The TOP 10 stocks now trade at a discount of 38 percent to the average for Junior Market stocks and main market stocks trade at a discount of 40 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. The increased values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Five days of gains for TTSE – Friday
Trinidad & Tobago Stock Exchange rose on Friday for the fifth day in a row, with 17 securities changing hands, up from 15 securities on Thursday as trading ended with 8 stocks rising, 2 declining and 7 remaining unchanged.
At the close, the Composite Index gained 3.30 points to 1,415.63. The All T&T Index rose 5.53 points to 1,764.79, while the Cross Listed Index added 0.14 points to close at 144.56.
Trading ended with 389,919 shares trading for $7,052,818, compared to 235,934 shares for $1,468,834 on Thursday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 5 stocks with bids lower than their last selling prices and 3 with lower offers.
Gains| Grace Kennedy rose 4 cents and closed at $3.48, with investors exchanging 1,700 shares, Massy Holdings increased by 1 cent and completed trading of 33 units at $56.06, National Enterprises gained 6 cents and ended at $5.76, in swapping 52 shares. Prestige Holdings finished trading with a rise of 4 cents and settled at $8.10, with 70 units crossing the exchange, Republic Financial gained $2 to end at $125, with 2,218 units changing hands, Scotiabank added 1 cent and settled at $59.47, after trading 210 shares. West Indian Tobacco lost 1 cent to $102.28, with an exchange of 10 units and Unilever Caribbean added 50 cents to settle at $24, with 100 units crossing the exchange.
Losses| First Citizens Bank fell 50 cents and settled at $41, with investors exchanging 273 shares and Trinidad & Tobago NGL lost 20 cents in exchanging 111,705 shares to close at $25.50.
Firm Traded| Clico Investment Fund ended at $24.07, with investors swapping 71,642 shares, First Caribbean International Bank traded 1,000 shares at $8.99, Guardian Holdings exchanged 2,000 shares to end at $18.50. National Flour completed trading at $1.49, with 1,000 stock units changing hands, NCB Financial settled at $10.75, with 194,074 units crossing the exchange, Sagicor Financial ended at $10.68, with 3,551 units changing hands and Trinidad Cement ended at $1.95 with investors switching ownership of 281 shares.
Prices of securities trading are those at which the last trade took place.
Stocks rose again on TTSE – Thursday
Trinidad & Tobago based companies closed on the local Stock Exchange with gains for the fourth day in a row closed on Thursday with 15 securities trading, the same as on Wednesday as trading ended with 5 stocks rising, 3 declining and 7 remaining unchanged.
At the close of the market, the Composite Index gained climbed 2.93 points on Thursday to 1,412.33. The All T&T Index gained 3.21 points to 1,759.26, while the Cross Listed Index added 0.36 points to close at 144.42.
Trading ended with 235,934 shares for $$1,468,834, compared to 251,750 shares for $6,540,070 shares on Wednesday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 5 stocks with bids lower than their last selling prices and 3 with lower offers.
Gains| Calypso Micro Index Fund gained 10 cents in trading 400 shares and closed at $15.85, First Citizens Bank concluded trading 50 cents and ended at $41.50, with 2,574 stock units trading, JMMB Group added 8 cents and closed at $2.08, with 110,000 units crossing the exchange. NCB Financial closed with a gain of 4 cents and ended at $10.75, after exchanging 32,216 shares and Sagicor Financial rose 7 cents and settled at $10.68, after trading 2,714 shares.
Losses| Clico Investment Fund shares fell 3 cents and ended at $24.07, after exchanging 17,562 shares, Trinidad & Tobago NGL lost 1 cent in transferring 5,209 shares to close at $25.70, and West Indian Tobacco dropped by $2.21 with 259 stocks units crossing the exchange at $102.29.
Firm Traded| CinemaOne ended at $7.15, with 616 stock units changing hands, First Caribbean International Bank settled at $8.99, with 200 units crossing the exchange, Guardian Holdings ended at $18.50, with 150 stock units changing hand. National Enterprises completed trading of 1,357 units at $5.70, National Flour settled at $1.49, with an exchange of 2,644 units, Scotiabank ended at $59.46, with 630 stock units changing hands and Trinidad Cement ended at $1.95, trading 60,019 stock units.
Prices of securities trading are those at which the last trade took place.