Trading closed on the Junior Market of the Jamaica Stock Exchange Wednesday, with a 38 percent decline in the volume of stocks traded, with a 44 percent lower value than Tuesday with trading in 44 securities compared with 39 on Tuesday and ending with prices of 16 rising, 21 declining and seven closing unchanged.
The market closed after 3,622,295 shares were traded for $8,075,268 compared with 5,879,680 units at $14,528,099 on Tuesday.
Trading averaged 82,325 shares at $183,529 compared with 150,761 units at $372,515 on Tuesday with the month to date, averaging 166,173 stock units at $390,666 compared to 172,623 stock units at $406,600 on the previous day and February with an average of 253,246 stock units at $637,481.
Tropical Battery led trading with 536,975 shares for 14.8 percent of total volume followed by Fosrich with 476,598 units for 13.2 percent of the day’s trade and Future Energy with 382,069 units for 10.5 percent market share.
At the close of trading, the Junior Market Index dropped 8.87 points to wrap-up trading at 3,799.02.
The Junior Market ended trading with an average PE Ratio of 12.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging declined 5 cents and ended at $3.10 after a transfer of 31,398 stocks, Blue Power increased 7 cents to $3.05 as investors exchanged 100 units, Cargo Handlers sank $1.65 to $12.83 after 4,021 shares passed through the market. Caribbean Assurance Brokers popped 15 cents to close at $2.35 in an exchange of 1,234 stock units, Caribbean Cream rose 20 cents to $3.89 with 587 shares crossing the market, Caribbean Flavours dipped 7 cents to $1.60 with investors trading 364,539 units. Dolphin Cove rose 28 cents to end at $19.78 with 1,829 stocks passing through the market, GWest Corporation lost 13 cents in closing at 85 cents with investors dealing in 24,029 stock units, Image Plus dipped 6 cents to close at $1.89, with investors trading 12,436 shares. ISP Finance fell $3.40 and ended at $28.10 with investors transferring 55 stocks, JFP Ltd skidded 7 cents to $1.32 in switching ownership of 184,500 units, Lasco Distributors shed 13 cents in closing at $4.42 with traders dealing in 36,123 stock units. 
Lasco Manufacturing rallied 20 cents to $5.45 in an exchange of 14,042 shares, Limners and Bards fell 9 cents to close at $1.54 with investors swapping 2,000 stocks, Lumber Depot climbed 8 cents and ended at $2.59 after an exchange of 109,000 units. Mailpac Group gained 12 cents to $2.12 in trading 103,424 stock units, Main Event fell 56 cents to $14 after an exchange of 14,972 shares, Medical Disposables declined 20 cents in closing at a 52 weeks’ low of $2.30 after exchanging 950 stocks. MFS Capital Partners sank 20 cents to $1.70 with 85,400 units clearing the market, Stationery and Office Supplies popped 5 cents and ended at $1.52 with an exchange of 236,344 stock units and Tropical Battery dipped 10 cents to $2.10 with 536,975 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs for Junior Market as prices soften
Trading closed on the Junior Market of the Jamaica Stock Exchange Tuesday, with a 127 percent rise in the volume of stocks traded, with a value that is 136 percent more than Monday and ended with trading in 39 securities compared with 46 on Monday and ending with prices of 10 rising, 20 declining and nine closing unchanged.
The market closed trading of 5,879,680 shares for $14,528,099 compared with 2,593,168 units at $6,159,361 on Monday.
Trading averaged 150,761 shares at $372,515, compared with 56,373 units at $133,899 on Monday with the month to date, averaging 172,623 units at $406,600 compared to 174,223 stock units at $409,094 on the previous day and February with an average of 253,246 units at $637,481.
One Great Studio led trading with 1.20 million shares for 20.4 percent of total volume followed by Fosrich with 846,479 units for 14.4 percent of the day’s trade and Spur Tree Spices with 477,340 units for 8.1 percent market share.
At the close of trading, the Junior Market Index sank 10.77 points to settle at 3,807.89.
The Junior Market ended trading with an average PE Ratio of 12.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of the market, AMG Packaging fell 6 cents and ended at $3.15 after trading 864 shares, Blue Power lost 18 cents to close at $2.98 with 3,342 stocks clearing the market, Caribbean Assurance Brokers dipped 13 cents to close at $2.20 with an exchange of 6,201 shares. Caribbean Cream sank 19 cents to end at $3.69, with 2,534 stock units crossing the market, Derrimon Trading skidded 12 cents in closing at $1.88 with investors swapping 32,795 shares, Dolphin Cove declined 39 cents to $19.50 after an exchange of just 300 stock units. Express Catering climbed 11 cents to $3.98 with investors transferring 28,786 stocks, Fontana shed 25 cents and ended at $9.08 in an exchange of 199,893 units, Fosrich dipped 7 cents in closing at $2.08, after 846,479 stocks crossed the market. Jetcon Corporation fell 13 cents to end at 85 cents with investors trading 11,282 units, 
Lasco Distributors popped 5 cents to $4.55, with 384,895 shares crossing the exchange, Lasco Manufacturing declined 5 cents to $5.25 with a transfer of 436,904 stock units. Lumber Depot shed 17 cents to close at $2.51 while exchanging 8,317 shares, Mailpac Group lost 10 cents and ended at $2 after closing with an exchange of 279,293 stock units, Main Event increased 7 cents to end at $14.56 after a transfer of 2,989 units. ONE on ONE Educational skidded 9 cents in closing at 88 cents after 20,408 stocks passed through the market, Stationery and Office Supplies sank 8 cents to $1.47 with investors dealing in 473,453 shares and Tropical Battery gained 5 cents and ended at $2.20 in switching ownership of 430,554 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady trading on the JSE Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with little change in the volume and value of stocks traded, compared with trading on Friday and ended with trading in 46 securities the same as 46 on Friday and ending with prices of 16 rising, 16 declining and 14 closing unchanged.
The market closed trading of 2,593,168 shares for $6,159,361 compared with 2,586,840 units at $6,170,873 on Friday.
Trading averaged 56,373 shares at $133,899, compared with 56,236 units at $134,149 on Friday with the month to date, averaging 174,223 units at $409,094 compared to 185,355 stocks at $435,088 on the previous trading day and February with an average of 253,246 units at $637,481.
Spur Tree Spices led trading with 976,508 shares for 37.7 percent of total volume that was followed by Fosrich with 370,030 units for 14.3 percent of the day’s trade and Image Plus with 156,521 units for 6 percent market share.
At the close of trading, the Junior Market Index dipped 9.91 points to close at 3,818.66.
The Junior Market ended trading with an average PE Ratio of 13.2, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
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, AMG Packaging lost 6 cents to $3.21 after a transfer of 11,622 units, Cargo Handlers popped 48 cents to close at $14.48 with 41 stocks passing through the market, Derrimon Trading advanced 10 cents in closing at $2 as investors exchanged 6,667 shares. Dolphin Cove skidded 6 cents to end at $19.89 in trading 1,680 stock units, Everything Fresh rose 6 cents to $1.60 after an exchanging of 3,087 shares, Image Plus rallied 6 cents to $1.95 with investors transferring 156,521 stock units. ISP Finance increased 95 cents to end at $31.50 in an exchange of 567 stocks, Jamaican Teas climbed 13 cents in closing at $2.53, with trading of 7,384 units, JFP Ltd gained 6 cents and ended at $1.38 with an exchange of 32,474 stocks. Lasco Distributors sank 9 cents to close at $4.50 after an exchange of 45,448 units, Lasco Manufacturing popped 8 cents to $5.30 with investors trading 3,742 shares, Limners and Bards dipped 17 cents to end at $1.63 in switching ownership of 20 stock units. 
Mailpac Group increased 8 cents in closing at $2.10 with traders dealing in 45,105 shares, Main Event fell 9 cents and ended at $14.49 in an exchange of 293 stock units, MFS Capital Partners climbed 10 cents to $1.90 with investors dealing in 5,001 stocks. ONE on ONE Educational rose 11 cents to end at 97 cents, with 57,648 units crossing the market, Regency Petroleum shed 6 cents to end at $2.16 while exchanging 28,514 stocks, Spur Tree Spices declined 14 cents in closing at $2.36 with a transfer of 976,508 shares. Tropical Battery dropped 10 cents to close at $2.15 after 63,054 units crossed the exchange and tTech gained 37 cents and ended at $2.43, with one stock unit changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Solid gains for some ICTOP10 stocks
The main and Junior Markets are up nearly 10 percent and 5 percent since the lows reached in September and December respectively and they are expected to continue to rally in the weeks and months ahead, with the Junior Market now showing bullish signals that are B indicators of a solid bull market ahead.
The ICTOP10 ended the past weeks, with a 9 percent jump in the price of ISP Finance to $30.55 and an 8 percent fall in Stationery & Office Supplies to $1.56.
In the Main Market, 138 Student Living surged 24 percent to $3.75 followed by a 12 percent rise for Margaritaville to $15.99, as General Accident Insurance popped by 8 percent to $5.61 as demand rises for the stock but Kay declined 14 percent to $2.30.
On the surface, ISP Finance appears highly overpriced based on 2024 earnings of 57 cents per share, but the December quarter earnings were 25.2 cents per share or just over $1 per annum. With more profit to be generated in 2024 as profit grows, earnings should exceed that of 2024 by what is expected to be a wide margin and most likely justify the current price.
There were no changes to the list of companies in the TOP10 this past week.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 269 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 173 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 115, with an average of 36 and 25 excluding the highest PE ratios, and a PE of 29 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 43, averaging 21, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 on or around 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.
Trading drops prices rise on Junior Market
The Junior Market of the Jamaica Stock Exchange closed higher on Friday after a 49 percent decline in the volume of stocks traded, valued 37 percent less than on Thursday with trading in 46 securities compared with 44 on Thursday and ending with prices of 20 rising, 12 declining, leaving 14 unchanged.
The market closed with trading of 2,586,840 shares with a value of $6,170,873 compared with 5,070,780 units at $9,806,198 on Thursday.
Trading averaged 56,236 shares at $134,149 compared to 115,245 units at $222,868 on Thursday with the month to date, averaging 185,355 units at $435,088 compared with 198,823 stock units at $466,478 on the previous day and February with an average of 253,246 units at $637,481.
Stationery and Office Supplies led trading with 641,945 shares for 24.8 percent of total volume and was followed by Lasco Manufacturing with 308,644 units for 11.9 percent of the day’s trade and JFP Ltd with 225,478 units for 8.7 percent market share.
At the close of trading, the Junior Market Index rose 20.08 points to end trading at 3,828.57.
The Junior Market ended trading with an average PE Ratio of 13,, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years, closing around August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close of trading, Access Financial popped $3.30 to end at $22 with investors swapping 496 units, AMG Packaging advanced 12 cents to $3.27 after a transfer of 554 stocks, Cargo Handlers dropped 48 cents to $14 with 756 shares clearing the market. Caribbean Cream rose 33 cents and ended at $3.90 with investors transferring 4,062 stock units, Everything Fresh shed 5 cents to close at $1.54 in an exchange of 565 shares, Fontana declined 7 cents to $9.33, with 45,998 stocks changing hands. Fosrich rallied 7 cents to end at $2.19 in trading 121,203 units, Honey Bun increased 5 cents in closing at $7.05 after an exchange of 4,130 stock units, ISP Finance climbed $2.05 and ended at $30.55, with investors dealing in 5,000 shares. 
Jamaican Teas fell 15 cents to $2.40, with 26,984 units changing hands, Lasco Manufacturing rose 7 cents to $5.22 with traders dealing in 308,644 stocks, Limners and Bards rallied 27 cents to $1.80 after an exchange of 800 stock units. Mailpac Group dipped 12 cents in closing at $2.02 with a transfer of 107,866 shares, MFS Capital Partners sank 17 cents to close at $1.80 after 40,051 stocks crossed the market, ONE on ONE Educational skidded 7 cents and ended at a 52 weeks’ low of 86 cents in an exchange of 176,444 units and Stationery and Office Supplies advanced 21 cents to $1.56 after 641,945 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday, with a 37 percent fall in the volume of stocks traded, valued 31 percent less than Wednesday following trading in 44 securities up from 41 on Wednesday and ending with prices of 20 rising, 18 declining and six closing unchanged.
The market closed with 5,070,780 shares trading at $9,806,198 compared with 8,079,622 units at $14,175,727 on Wednesday.
Trading for the day averaged 115,245 shares at $222,868 down from 197,064 units at $345,749 on Wednesday with a month to date average of 198,823 units at $466,478 compared to 208,086 stock units at $493,478 on the previous day and February with an average of 253,246 units at $637,481.
Stationery and Office Supplies led trading with 1.23 million shares for 24.3 percent of total volume followed by JFP Ltd with 800,002 stock units for 15.8 percent of the day’s trade and Fosrich with 471,150 units for 9.3 percent market share.
At the close of trading, the Junior Market Index climbed 27.91 points to end trading at 3,808.49.
The Junior Market ended trading with an average PE Ratio of 12.9, based on last traded prices in conjunction 
with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging skidded 11 cents to $3.15 with investors dealing in 20,253 stock units, CAC 2000 rallied 25 cents and ended at $4.50 with just one share being traded, Cargo Handlers increased $1.18 in closing at $14.48 after a transfer of 201 stocks. Caribbean Cream climbed 17 cents to close at $3.57, with just 100 units crossing the market, Caribbean Flavours rose 5 cents to end at $1.67 after an exchange of 107,831 stocks, Consolidated Bakeries gained 19 cents to end at $2.20 with investors swapping just two units. Dolphin Cove popped 10 cents to end at $19.95 after an exchange of 6,681 shares, Express Catering advanced 18 cents in closing at $3.88 with a transfer of 20,113 stock units, Honey Bun sank 7 cents to close at $7 while exchanging 3,750 shares.
Jamaican Teas rose 25 cents and ended at $2.55 in trading 602 units, Lasco Manufacturing shed 15 cents to $5.15 with an exchange of 186,039 stocks, Limners and Bards declined 32 cents to close at $1.53 with investors trading 307 stock units. Medical Disposables lost 8 cents in closing at $2.50 after 49,254 shares passed through the market, One Great Studio dipped 5 cents and ended at 95 cents with an exchange of 440,088 stock units, Stationery and Office Supplies fell 8 cents to end at a 52 weeks’ low of $1.35, with 1,230,456 stocks changing hands and tTech advanced 5 cents in closing at $2.06 as investors exchanged 184 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading falls
The Junior Market of the Jamaica Stock Exchange inched higher on Wednesday after a 15 percent rise in the volume of stocks traded, with a 23 percent lower value than Tuesday following trading in 41 securities, down from 46 on Tuesday and ending with prices of 16 rising, 18 declining and seven closing unchanged as the market closed marginally higher.
The market closed with trading of 8,079,622 shares for $14,175,727 compared with 6,998,714 units at $18,504,634 on Tuesday.
Trading averaged 197,064 shares at $345,749, compared with 152,146 units at $402,275 on Tuesday with the month to date, averaging 208,086 units at $493,478 compared with 209,355 stock units at $510,491 on the previous day and February with an average of 253,246 units at $637,481.
One Great Studio led trading with 1.91 million shares for 23.6 percent of total volume followed by Stationery and Office Supplies with 1.87 million units for 23.1 percent of the day’s trade and JFP Ltd with 855,299 units for 10.6 percent market share.
At the close of trading, the Junior Market Index popped just 3.93 points to wrap up trading at 3,780.58.
The Junior Market ended trading with an average PE Ratio of 12.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers, suggesting a positive opening on Thursday.
At the close, AMG Packaging declined 29 cents and ended at $3.26 with investors dealing in 853 shares, Blue Power climbed 10 cents to $3.16 trading 32,992 stocks, CAC 2000 shed 25 cents to end at $4.25 with 8,834 shares clearing the market. Cargo Handlers lost $1.18 in closing at $13.30 in an exchange of 4,081 stock units, Caribbean Cream dipped 50 cents to close at $3.40 with investors swapping 47,669 shares, Dolphin Cove sank 12 cents to $19.85 in an exchange of 7,107 stock units. Express Catering skidded 17 cents in closing at $3.70, with 14,000 stocks crossing the market, Fontana gained 14 cents and ended at $9.44 with a transfer of 12,544 units, Future Energy popped 13 cents to close at $3.60 after exchanging 160,538 shares. Indies Pharma advanced 5 cents to end at $2.70 in switching ownership of 54,725 units, Jamaican Teas fell 12 cents in closing at $2.30, with 371,634 stocks crossing the exchange, 
Lasco Financial rose 13 cents to $1.95, with 5,621 stock units changing hands. Lasco Manufacturing dropped 18 cents and ended at $5.30 after an exchange of 134,313 shares, Limners and Bards rallied 37 cents to close at $1.85 as 48,000 stocks passed through the market, Lumber Depot gained 25 cents to end at $2.75 with an exchange of 80,138 units. Main Event rose $1 to $14.60 and closed with an exchange of 433 stock units, One Great Studio advanced 5 cents to end at $1 as investors exchanged 1,907,246 shares, Stationery and Office Supplies sank 23 cents in closing at $1.43 after a transfer of 1,865,960 units. Tropical Battery popped 5 cents to close at $2.25 while exchanging 183,315 stocks and tTech skidded 5 cents and ended at $2.01, with 7,120 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on Junior Market
Investors pushed trading on the Junior Market of the Jamaica Stock Exchange Tuesday, with a 78 percent rise in the volume of stocks traded, following a 60 percent hike in the value compared with trading on Monday with trading in 46 securities compared with 45 on Monday and ending with prices of 14 rising, 20 declining and 12 closing unchanged.
The market closed with trading of 6,998,714 shares on Tuesday for $18,504,634 compared with 3,940,936 units at $11,557,517 on Monday.
Trading averaged 152,146 shares at $402,275, compared with 87,576 units at $256,834 on Monday with the month to date, averaging 209,355 units at $510,491 compared to 217,844 stock units at $526,549 on the previous day and February with an average of 253,246 units at $637,481.
Future Energy led trading with 2.27 million shares for 32.4 percent of total volume followed by EduFocal with 1.34 million units for 19.1 percent of the day’s trade and Fosrich with 573,092 units for 8.2 percent market share.
At the close of trading, the Junior Market Index skidded 30.03 points to close at 3,776.65.
The Junior Market ended trading with an average PE Ratio of 12.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial fell $3.30 to a 52 weeks’ low of $18.70 as investors exchanged 656 shares, AMG Packaging increased 6 cents in closing at $3.55 in switching ownership of 1,570 units, Cargo Handlers climbed $1.25 to end at $14.48 with just one share crossing the market. Dolphin Cove rose 8 cents to $19.97 after a transfer of 34,697 stock units, EduFocal declined 7 cents to $1.13 in exchanging 1,338,153 shares, Elite Diagnostic advanced 5 cents to $1.69 with investors swapping 22,287 stock units. Express Catering sank 12 cents to close at $3.87 in an exchange of 2,951 units, Fontana popped 17 cents and ended at $9.30, with 6,969 stocks changing hands, Future Energy lost 9 cents in closing at $3.47 in an exchange of 2,270,580 shares. Honey Bun dipped 19 cents to end at $7.07 with investors transferring 3,199 stocks, Indies Pharma skidded 5 cents in closing at $2.65 after exchanging 46,444 units, ISP Finance gained 40 cents to $28.50, with one stock unit clearing the market. 
Knutsford Express rallied 5 cents to end at $11.90 with an exchange of one share, Limners and Bards shed 14 cents and ended at $1.48 with 2,302 units, Lumber Depot dropped 28 cents to close at $2.50 after an exchange of 62,947 stocks. Mailpac Group fell 10 cents to $2.08 with investors dealing in 109,087 stock units, Main Event declined 65 cents to close at $13.60 with a transfer of 26,001 shares, following release of first quarter results showing revenues and profit declining compared with that of 2023. Medical Disposables sank 9 cents in closing at $2.58 after trading 2,779 stock units. MFS Capital Partners dipped 7 cents and ended at $1.90 with 452,187 stocks passed through the market, Regency Petroleum increased 5 cents to end at $2.20 with investors trading 172,740 units and Tropical Battery popped 5 cents to $2.20 with 49,523 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market drops
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with a decline of 82 percent in the volume of stocks traded, with 76 percent lower value than Friday resulting from trading in 45 securities compared with 46 on Friday and ending with prices of 14 rising, 24 declining and seven closing unchanged.
The market closed on Monday with 3,940,936 shares being traded for $11,557,517 compared to 21,593,851 units at $47,836,116 on Friday.
Trading averaged 87,576 shares at $256,834 compared to 469,432 units at $1,039,916 on Friday with the month to date, averaging 217,844 units at $526,549 compared to 239,965 stock units at $572,350 on the previous day and February with an average of 253,246 units at $637,481.
Lasco Manufacturing led trading with 449,268 shares for 11.4 percent of total volume followed by Future Energy with 366,287 units for 9.3 percent of the day’s trade and One Great Studio with 339,510 units for 8.6 percent market share.
At the close of trading, the Junior Market Index sank 28.57 points to finish at 3,806.68.
The Junior Market ended trading with an average PE Ratio of 12.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging rallied 31 cents to end at $3.49 in an exchange of 54,003 units, Cargo Handlers sank $1.26 to $13.23 with traders dealing in 1,201 stocks, Caribbean Flavours shed 8 cents to close trading at $1.62 while exchanging 4,005 shares. Consolidated Bakeries fell 19 cents and ended at $2.01 after a transfer of 286 stock units, Dolphin Cove skidded 8 cents to close at $19.89 as investors exchanged 6,517 shares, Everything Fresh lost 12 cents to close $1.60 after 181,972 stocks passed through the market. Fontana dipped 62 cents in closing at $9.13 with investors trading 108,162 units, Fosrich rose 5 cents to end at $2.10 in an exchange of 292,102 stocks, Jetcon Corporation dropped 5 cents to close at 94 cents with investors dealing in 5,242 shares. Knutsford Express declined 9 cents and ended at $11.85 after an exchange of 10,318 stock units, 
Lasco Manufacturing gained 28 cents to close at $5.48, with 449,268 stocks crossing the market, Limners and Bards popped 14 cents in closing at $1.62 with a transfer of 502 stock units. Mailpac Group climbed 8 cents to close at $2.18 after an exchange of 11,188 shares, Main Event lost 44 cents and ended at $14.25 in switching ownership of 750 stocks, Regency Petroleum shed 5 cents to end at $2.15 with 190,030 units clearing the market. Tropical Battery dropped 15 cents in closing at $2.15 with an exchange of 171,447 stock units and tTech fell 37 cents to $2.06 after 3,913 shares changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Honey Bun jumps ICTOP10 SOS returns
There has been quite a high level of volatility in the ICTOP10 over the past two weeks, with a 19 percent jump in the price of Iron Rock Insurance to $2.51, with an 11 percent fall in ISP Finance to $28.10 and a drop of 10 percent in AMG Packaging to $3.18 as The Junior Market closed with Stationery & Office Supplies returning to the TOP10 based on projected earnings for 2024 but Honey Bun rose to $7.30 and dropped out of the TOP10.
Stationary & Office Supplies – Montego Bay office.
In the Main Market, 138 Student Living plunged 28 percent to $3.03 followed by a 16 percent fall for Margaritaville to $14.25, while Pulse Investments rose 13 percent to $2.14 and Kay Insurance rallied 12 percent to $2.67.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.1.
The Main Market ICTOP10 is projected to gain an average of 284 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 174 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 35 percent of the Main Market are priced at a PE of 15 to 108, 
with an average of 28 and 20 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 46, averaging 21.5, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 on or around 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.
