Trading on the Jamaica Stock Exchange US dollar market ended on Wednesday, with the volume of stocks changing hands declining 22 percent valued 89 percent more than on Tuesday, resulting in trading of six securities, compared to six on Tuesday with four rising, no declining and two ending unchanged.
A total of 236,678 shares were exchanged for US$35,767 compared with 303,705 units at US$18,904 on Tuesday.
Trading averaged 39,446 shares at US$5,961 compared with 50,618 units at US$3,151 on Tuesday, with a month to date average of 73,490 shares at US$3,495 compared with 88,080 units at US$2,438 on the previous day. March ended with an average of 172,829 units for US$12,793.
The JSE US Denominated Equities Index inched 0.44 points higher to close at 210.34.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.3. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices than last selling prices and one with a lower offer.
At the close, Margaritaville gained 2.13 cents in closing at 11.48 US cents with investors exchanging 152 shares, Productive Business Solutions advanced 19.55 cents to close at US$1.73, with 2,202 units crossing the market, 
Proven Investments rose 1.5 cents to 19.5 US cents with an exchange of 167,094 stock units. Sygnus Credit Investments remained at 9.44 US cents with investors transferring 50 stocks and Transjamaican Highway ended at 1 US cent with a transfer of 67,070 units.
In the preference segment, JMMB Group 5.75% climbed 27.67 cents in closing at US$2.1212 in an exchange of 110 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE USD Market
Steady JSE Main Market on lower trades
Trading activity ended with 48 percent fewer shares changing hands on the Jamaica Stock Exchange Main Market on Tuesday, with 73 percent lower value than trading on Monday, with 55 securities trading compared to 57 on Monday, with 21 rising, 19 declining and 15 ending unchanged.
A total of 9,556,783 shares were traded for $28,842,985 compared to 18,209,479 units at $105,140,128 on Monday.
Trading averaged 173,760 shares at $524,418 versus 319,465 shares at $1,844,564 on Monday and month to date, an average of 247,913 units at $1,196,278 compared with March with an average of 356,137 units at $3,015,416.
Transjamaican Highway led trading with 5.46 million shares for 57.2 percent of total volume followed by Sagicor Select Financial Fund with 1.01 million units for 10.6 percent of the day’s trade and Ciboney Group with 947,765 units for 9.9 percent market share.
The All Jamaican Composite Index declined 494.93 points to 371,255.18, the JSE Main Index dipped 390.22 points to 331,377.07 and the JSE Financial Index dipped 0.19 points to close at 76.29.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments gained 52 cents to end at $80.50 in an exchange of 16,038 shares, Caribbean Cement rallied $1 after ending at $57 in trading 16,291 stocks, Eppley advanced 49 cents to $37.49 with the swapping of 561 units. Eppley Caribbean Property Fund shed $4.10 to close at $40.40 w with investors trading 3,390 stock units, GraceKennedy fell $2.50 to $80 in switching ownership of 39,584 units, 
Guardian Holdings climbed $5 after ending at $490 as investors exchanged 19 stocks. Jamaica Broilers dipped $2.35 to end at $35, with 12,988 shares changing hands, Jamaica Producers dropped 80 cents to $21 with investors transferring 20,061 stock units, Kingston Wharves lost 49 cents to close at $34 with an exchange of 339 stocks. Massy Holdings popped $3.80 in closing at $89 after an exchange of 5,529 units, NCB Financial dropped $2 to $73 after 17,263 shares passed through the market, Pan Jamaica Group increased $3.94 to end at $55.94 after a transfer of 10,135 stock units. Sagicor Group fell $3.40 in closing at $47.50 in an exchange of 37,018 shares, Seprod rose $2.49 after ending at $69.99 with a transfer of 5,493 stock units and Supreme Ventures gained 90 cents to close at $26.90, with 15,373 stocks crossing the exchange.
In the preference segment, Eppley 5% preference share rose $2 in closing at $22 after 11 units crossed the market, Jamaica Public Service 7% dropped $30.99 to $98, with 46 units crossing the market, Jamaica Public Service 9.5% climbed $2 to end at $3000 after exchanging one stock unit and Productive Business Solutions 9.75% preference share increased $16.05 in ending at $107 while exchanging 28 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall back for JSE USD Market
Trading dropped on Tuesday with the volume of stocks changing hands declining 67 percent with a 24 percent greater value than on Monday at the close of the Jamaica Stock Exchange US dollar market and resulted in the trading of six securities, compared to eight on Monday with no rising, five declining and one ending unchanged.
Overall, 303,705 shares were traded for US$18,904 compared with 929,408 units at US$15,231 on Monday.
Trading averaged 50,618 units at US$3,151 compared to 116,176 shares at US$1,904 on Monday, with a month to date average of 88,080 shares at US$2,438. March ended with an average of 172,829 units for US$12,793.
The JSE USD Equities Index lost 19.77 points to end at 209.90.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and none with a lower offer.
At the close, Margaritaville dropped 1.65 cents in closing at 9.35 US cents, with 1,122 shares changing hands, 
Productive Business Solutions declined by 26.55 cents after ending at US$1.5345 with the swapping of 445 stocks, Proven Investments ended at 18 US cents while exchanging 87,301 units. Sterling Investments dipped 0.01 of a cent to 1.99 US cents in an exchange of 1,299 stock units and Transjamaican Highway shed 0.1 of a cent to 1 US cent, with 213,428 stocks crossing the exchange.
In the preference segment, JMMB Group 5.75% lost 32.55 cents to close at US$1.8445, with 110 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Junior Market
The Junior Market of the Jamaica Stock Exchange rose on Tuesday, even as the volume of stocks traded declined 67 percent with 74 percent lower value than on Monday with trading in 43 securities compared with 41 on Monday and ended with prices of 17 rising, 15 declining and 11 closing unchanged.
Investors traded 3,751,282 shares for $8,192,766 compared to 11,481,147 units at $32,060,415 on Monday.
Trading averaged 87,239 shares at $190,529, compared with 280,028 shares at $781,961 on Monday, with the month to date, averaging 181,338 units at $479,205. March averaged 509,288 units at $1,071,868.
Image Plus Consultants led trading with 910,427 shares for 24.3 percent of total volume, EduFocal followed with 565,441 units for 15.1 percent of the day’s trade and ONE on ONE Educational with 491,730 units for 13.1 percent market share.
At the close, the Junior Market Index increased 34.69 points to close at 3,701.20.
The PE Ratio, a measure of computing appropriate stock values, averages 11.2. 
The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging rose 41 cents to $3.06, with 913 shares crossing the market, Caribbean Assurance Brokers declined 10 cents to $1.90 in trading 154,979 units, Caribbean Cream fell 58 cents in closing at $3.48 as investors exchanged 2,000 stocks. Caribbean Flavours dipped 19 cents after ending at $1.06, with 30,000 stock units crossing the exchange, 
Everything Fresh dropped 14 cents to $1.45 after exchanging 23,683 units, Express Catering advanced 65 cents to $5 as just 2,711 shares passed through the market. Future Energy Source gained 24 cents in closing at $4.27 after 34,284 stock units changed hands, iCreate rallied 12 cents to $1.60 after a transfer of 10,099 stocks, Indies Pharma shed 44 cents after ending at $2.86 in trading 35,342 stock units. Knutsford Express climbed $1.37 to $11.78 with a transfer of 200 shares, Lasco Distributors lost 34 cents to close at $2.38 while exchanging 10,885 units, Lasco Manufacturing fell 38 cents to end at $4.07 in switching ownership of 19,436 stocks. Limners and Bards increased 40 cents to $2.60, with 3,610 stocks crossing the market, 
Lumber Depot declined 10 cents to $2.40 after an exchange of 29,000 shares and Stationery and Office Supplies popped $1.68 in closing at $15.69, with 11,005 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on Trinidad Exchange
Trading activity jumped on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded rising 65 percent and the value jumping 105 percent more than on Monday, resulting in the trading of 22 securities compared with 20 on Monday, with prices of six stocks rising, seven declining and nine remaining unchanged.
Investors exchanged 572,971 shares for $6,448,918 versus 346,209 stock units at $3,145,595 on Monday. An average of 26,044 units were traded at $293,133 compared with 17,310 shares at $157,280 on Monday, with trading month to date averaging 21,885 shares at $228,451, close to the average trade for March of 23,611 shares at $241,670.
The Composite Index dipped 2.98 points to 1,309.84, the All T&T Index shed 3.16 points to 1,969.34, the SME Index closed at 61.06 and the Cross-Listed Index shed 0.39 points to close at 84.55.
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, Agostini’s shed $1.24 to end at $58.51 in trading 205 shares, Angostura Holdings popped 93 cents to $24.05 after exchanging 656 stocks, Ansa McAl declined 3 cents in closing at $50.80 as 6,149 stock units passed through the market. 
Calypso Macro Investment Fund fell $1.23 after ending at $20.77 in an exchange of 50 units, First Citizens Group popped 1 cent to $50.01, with 4,078 shares changing hands, GraceKennedy lost 15 cents in closing at $4.45 after 24,144 stocks crossed the market. Guardian Holdings dipped 45 cents to close at $25.05 with the swapping of 1,100 stock units, Guardian Media rose 10 cents to end at $2.30 as investors exchanged 2,000 units, JMMB Group dropped 6 cents in ending at $1.69 after an exchange of 272 stocks. L.J. Williams B share gained 19 cents to close at $2.75 with an exchange of 170 shares, Massy Holdings ended trading at $4.55 in switching ownership of 382,451 stock units, National Enterprises dropped 13 cents to $3.60, with 33,353 units changing hands. National Flour Mills dipped 10 cents to $1.40, with 1,552 stocks crossing the exchange, NCB Financial declined 39 cents in closing at $3.51 with investors transferring 1,957 stock units, One Caribbean Media increased 32 cents to end at $3.82 after trading 1,620 units,
Prestige Holdings slipped 9 cents to $7.40 after 28,462 shares were traded, Republic Financial ended at $138 in an exchange of 19,247 units Scotiabank lost 15 cents to close at $77.85 with a transfer of 560 stocks. Trinidad & Tobago NGL fell 1 cent in closing at $20, with 1,064 shares clearing the market, Trinidad Cement slipped 1 cent to $3.53 while exchanging 99 stock units, Unilever Caribbean rallied 30 cents in closing at $14.80, with 56,220 stocks crossing the market and West Indian Tobacco popped 1 cent to $16.80 in exchanging 7,562 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on the JSE USD Market
The volume of stocks traded dropped 25 percent on Monday compared with Friday to start off the second quarter of the year on the Jamaica Stock Exchange US dollar market ended, with changing hands as funds passing through the market declined marginally and resulted in trading in eight securities, compared to five on Friday and ended with three rising, three declining and two ending unchanged.
A total of 929,408 shares were traded for US$15,231 compared with 1,234,958 units at US$16,361 on Friday.
Trading on Monday averaged 116,176 shares at US$1,904 compared with 246,992 shares at US$3,272 on Friday. Trading averaged 172,829 units for US$12,793 in March
The JSEUSD Equities Index lost 2.23 points to end at 229.67. The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and two with lower offers.
At the close, First Rock Real Estate USD share ended at 6.37 US cents while exchanging 34 units, Productive Business Solutions dipped 38.49 cents to US$1.80 with investors transferring 113 stock shares, Proven Investments gained 0.5 of a cent after ending at 18 US cents in switching ownership of 2,360 units. 
Sygnus Credit Investments declined 0.05 of one cent to close at 9.44 US cents in trading 300 shares, Sygnus Real Estate Finance USD share remained at 7 US cents after an exchange of 1,056 units and Transjamaican Highway increased 0.01 of a cent to 1.10 US cents crossing the exchange 925,181 stock units.
In the preference segment, Productive Business 9.25% fell 50 cents to end at US$12.50 with an exchange of 343 shares and JMMB Group 5.75% rose 17 cents in closing at US$2.17 after trading 21 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big drop for JSE Main Market to start Q2
Trading plunged to start the second quarter on a negative note following a big surge in the market index last week, with the All Jamaican Composite Index plunging 12,007.10 points to 371,750.11 and the JSE Main Index dived 8,768.59 points to 331,767.29 at the close of the Jamaica Stock Exchange Main Market on Monday.
At the close of trading, after a 26 percent fall in the volume of stocks traded with an 82 percent lower value than on Friday, resulting from trading in 57 securities compared to 60 on Friday, with 13 rising, 29 declining and 15 ending unchanged and ended with the JSE Financial Index losing 2.65 points to close at 76.48.
A total of 18,209,479 shares were traded for $105,140,128, down from 24,564,536 units at $579,763,758 on Friday.
Trading averaged 319,465 shares at $1,844,564, compared with 409,409 shares at $9,662,729 on Friday, compared to trading in March, with an average of 356,137 units at $3,015,416.
Transjamaican Highway led trading with 6.88 million shares for 37.8 percent of total volume, followed by QWI Investments with 4.42 million units for 24.3 percent of the day’s trade, Wigton Windfarm with 1.83 million units for 10.1 percent market share, Sagicor Select Financial Fund with 1.19 million units for 6.5 percent market share and Supreme Ventures with 1.09 million units for 6 percent market share.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments climbed 78 cents to close at $79.98 after an exchange of 147,819 shares, Berger Paints rallied 49 cents to end at $8.69 with a transfer of 27,694 stocks, but only after hitting an intraday 52 weeks’ low of $7.50, Caribbean Cement dropped $4 after finishing at $56 in an exchange of 31,574 stock units. Eppley shed 50 cents in closing at $37 after an exchange of 1,475 units, Eppley Caribbean Property Fund fell 50 cents to $44.50 with 1,074 stocks crossing the market, First Rock Real Estate dipped 93 cents after ending at $11.05 and closed with 59 units being traded. GraceKennedy popped $3.50 to close at $82.50 in switching ownership of 10,025 stock units, Guardian Holdings lost $9.99 to end at $485 after exchanging 63 shares, JMMB Group declined $1.42 in closing at $31.83, with 88,481 units crossing the market. 
Key Insurance shed 49 cents to end at $3 in trading 5,110 stocks, Margaritaville lost $2.64 to close at a 52 weeks’ low of $14.97 with 979 shares clearing the market, Massy Holdings dropped $3.75 to end at $85.20 after a transfer of 5,985 stock units. Mayberry Jamaican Equities fell 77 cents in closing at $12.23 while exchanging 40,327 stocks, Pan Jamaica Group, with an expanded portfolio of companies following the acquisition of companies that were part of Jamaica Producers, declined $2 to $52 with an exchange of 5,731 units, Proven Investments dipped 99 cents after ending at $26.50 with investors transferring 22,769 stock units. Sagicor Group dropped $2.10 in closing at $50.90, with 373,953 shares crossing the market, Scotia Group declined 98 cents to close at $34 in trading 12,149 stocks, Seprod dipped $10 to $67.50 as investors exchanged 1,928 units. Stanley Motta lost $1 after ending at $5 after 25,109 stock units passed through the market, Supreme Ventures shed $4.50 to end at $26 with the swapping of 1,094,398 shares and Sygnus Real Estate Finance gained 70 cents to close at $10, with 20,009 stocks changing hands.
In the preference segment, Productive Business 10.50% preference share fell $8 to end at $1250 in an exchange of two stock units and Jamaica Public Service 7% shed $35.11 to $128.99 with a transfer of 434 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market plunges 129 points
Investors pushed down the Junior Market Index 128.70 points to 3,666.51 and gave back all of the gains over the previous two trading days as the month end window dressing was reversed, with the volume of stocks traded declining 57 percent, with 60 percent lower value than on Friday following trading in 41 securities compared with 44 on Friday and ended with 18 rising, 18 declining and five closing unchanged, with three stocks hitting 52 weeks’ lows during the session.
A total of 11,481,147 shares were traded for $32,060,415, down from 26,446,403 units at $79,364,016 on Friday.
Trading averaged 280,028 shares at $781,961, compared with 601,055 stock units at $1,803,728 on Friday. March ended with an average of 509,288 units at $1,071,868.
Fosrich led trading with 4.89 million shares for 42.5 percent of total volume followed by Image Plus, with 1.75 million units for 15.2 percent of the day’s trade and Regency Petroleum with 729,577 units for 6.4 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 11.2. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 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 fell 94 cents to $25.05 after 20 shares crossed the market, AMG Packaging dipped 35 cents to $2.65 while exchanging 3,179 stocks, Caribbean Cream advanced 56 cents to end at $4.06, with a transfer of 4,305 units. Consolidated Bakeries lost 15 cents in closing at $2 with a transfer of 5,332 stock units, Derrimon Trading rose 12 cents to close at $2.12 in an exchange of 15,262 stocks, Dolphin Cove jumped 72 cents to $14.98 trading 19,132 shares, Everything Fresh increased 14 cents to end at $1.59 in an exchange of 19,044 units, Express Catering declined 40 cents to close at a 52 weeks’ closing low of $4.35 after hitting an intraday low of $4 with investors transferring 87,215 stock units, Future Energy Source shed 56 cents in closing at a 52 weeks’ low of $4.03, with 374,727 stock units crossing the exchange. Honey Bun rallied 25 cents to $6.70 after an exchange of 28,818 units, Image Plus Consultants climbed 17 cents to $1.97 after exchanging 1,746,560 stocks, Indies Pharma dipped 23 cents to end at $3.30 with 29,054 shares clearing the market. 
Iron Rock Insurance popped 26 cents to $2.27 with an exchange of four stock units, ISP Finance declined $1.56 to $23.99, with 18,944 units changing hands, JFP Ltd dipped 20 cents to $1.75 after an exchange of 169,479 shares. Knutsford Express shed $1.83 to close at $10.41 in trading 3,941 stocks, Lasco Distributors rallied 12 cents to $2.72 as 148,729 stocks passed through the market, Limners and Bards lost 39 cents to end at $2.20 in switching ownership of 15,572 stock units. Lumber Depot rose 16 cents to $2.50 with the swapping of 9,789 shares, Mailpac Group dropped 11 cents after ending at $1.89 with 68,853 units crossing the market, Main Event advanced 24 cents to $11.90 and closed after 44,794 stock units changed hands. Regency Petroleum fell 21 cents to close at $2.23 after an exchange of 729,577 shares, Spur Tree Spices fell 36 cents in closing at $2.70 after exchanging 158,115 units, 
Stationery and Office Supplies shed $1.74 after ending at $14.01 in an exchange of 241,581 stocks and Tropical Battery declined 13 cents to $1.95 after trading at a 52 weeks’ intraday low of $1.80, with 344,018 stock units being traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks beat out losers on TTSE
Trading resulted in mixed results at the close of the Trinidad and Tobago Stock Exchange on Monday, after a decline in the volume of stocks and the value traded compared to that on Friday, the
total volume dropped 70 percent below trading on Friday as the value dipped 40 percent, resulting in 20 securities trading compared with 21 on Friday, with seven stocks rising, five declining and eight remaining unchanged.
Trading accounted for 346,209 shares for $3,145,595 down from 454,057 stock units for $7,929,953 on Friday. An average of 17,310 shares were traded at $157,280 compared to 21,622 shares at $377,617 on Friday. The average trade for March amounted to 23,611 shares at $241,670.
The Composite Index popped 0.47 points to 1,312.82, the All T&T Index dipped 2.12 points to 1,972.50, the SME Index dipped 0.46 at 61.06 and the Cross-Listed Index added 0.46 points to close at 84.94.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than their last selling prices and none with a lower offer.
At the close, Agostini’s closed trading of 170 shares at $58.54, Ansa McAl traded 158 shares at $52, Calypso Macro Index Fund jumped $1.75 to end at $22.50 after investors exchanged just 55 units. Cinema One lost 40 cents after trading 15 shares at $7.50. First Citizens Group ended with an exchange of 1,967 stocks with the price closing at $50, FirstCaribbean International Bank gained 10 cents in ending at $7.25, with 26,166 stock units clearing the market. LJ Williams B share ended an exchange of 1,000 shares at $2.75, GraceKennedy slipped 1 cent $4.44 after an exchange of 3,046 units, JMMB Group gained 3 cents to close at a $1.70 with a transfer of 1,250 shares, Massy Holdings rose 6 cents in ending at $4.56 after an exchange of 116,851 stock units, National Enterprises exchanged of 38,734 stock units in closing at $3.60 after rising 5 cents, National Flour fell 1 cent in trading 992 shares to $1.49. 
One Caribbean Media closed at $3.70, with 163 units changing hands, Prestige Holdings ended at $7.40 after an exchange of 7 shares. Republic Financial lost 50 cents to close at $137.50 after 1,602 shares were traded, Scotiabank slipped 10 cents in ended at $77.85 while exchanging 1,248 stock units, Trinidad and Tobago NGL had an exchange of 5,292 shares at $20, Trinidad Cement rose 2 cents after trading 42,180 stock units in closing at $3.53, Unilever Caribbean ended trading at $14.79 with an exchange of 105,173 stocks and West Indian Tobacco added 5 cents to end at $16.80 after trading 140 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ICTOP10 rides big weekly JSE rally
The JSE Main market surged sharply in the past week.
While the Main and Junior Markets rebounded sharply during last week, ICTOP10 stocks ended with varying movements, with gains and losses in both markets hitting 16 percent. It was an interesting week in which the main market gained over 18,000 points for the week with all days closing with gains including the Friday of the previous week, but it sits at a resistance level and is a signal worth watching.
The Junior Market put on 200 points since Thursday, March 23 and had one minor negative trading day during the period, however, the last day accounted for nearly half of the above gains.
While Bank of Jamaica held their overnight rates at 7 percent, their CD rate that fell 16 percent in the previous week to an average of 8.85 percent from over 10 percent where it stood for several months, BOJ offered a huge $35 billion this past week, but the average rate fell to 8.49 percent after $70 billion chased the amount offered. Importantly, the central bank cut the stock of CDS it holds from a peak of $109.5 billion on March 3, but at the latest auction, it amounted to $88.85 billion, marginally up from $82 billion on the 17th.
At the end of the past week, in the Junior Market TOP10 four stocks gained and five declined. KLE Group jumped 16 percent to $1.69 and Tropical Battery rose 7 percent to close at $2.08. General Accident dropped 16 percent to $5 and Everything Fresh fell 6 percent to close at $1.45.
The Main Market TOP10 JMMB Group climbed 15 percent to $33.25, Jamaica Broilers gained 12 percent to $37.10, Caribbean Producers popped 7 percent to $9.70 and NCB Financial with a rise of 6 percent to $75. Berger Paints fell 10 percent to $8.20 and 138 Student Living with a fall of 6 percent to $5.05.
The Junior Market has a long term pattern, with the market starting to rise around a month before quarterly results are due and declining shortly after results are released. This is a pattern worth noting that can be built into investment decisions that can improve returns.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.2, while the Junior Market Top 10 PE sits at 5.8 compared with the market at 11.4. The differences are important indicators of the level of likely gains for ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main MarketTOP10 by an average of 267 percent, by May 2024, based on 2023 forecasted earnings.
The Junior Market has 11 stocks representing 23 percent of the market, with PEs from 15 to 28, averaging 20.4, well above the average of the market. The top half of the market has an average PE of 16, suggesting that this may be a logical value for junior market stocks currently.
The Main Market 19 highest valued stocks are priced at a PE of 15 to 115, with an average of 29 and 21 excluding the most valued stocks and 20.5 for the top half excluding the stocks with the highest valuation.
The above average shows the extent of potential gains for the TOP 10 stocks.
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.
