Stocks commenced the new year with slightly mixed results on the first day of trading for the new year on the Trinidad and Tobago Stock Exchange on Tuesday, after the volume of stocks traded declined 89 percent with the value 90 percent lower than on Friday resulting in 11 securities trading down from 17 on Friday, with four stocks rising, two declining and five remaining unchanged.
Investors exchanged just 82,534 shares for $683,762 down sharply from 757,469 stock units at $7,117,065 on Friday. An average of 7,503 units were traded at $62,160 compared to 44,557 shares at $418,651 on Friday. The average trade for December was 42,745 at $474,822.
The Composite Index rose 1.79 points to 1,333.94, the All T&T Index declined 5.75 points to 2,002.05 and the Cross-Listed Index increased 1.38 points to close at 86.64.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $50 in switching ownership of 100 shares, Angostura Holdings fell 30 cents in ending at $23.70 with a transfer of 75 stock units, First Citizens Group ended at $52 after 1,680 stocks crossed the market. GraceKennedy popped 2 cents to end at $4.51, with 16,017 units clearing the market, Massy Holdings ended at $4.50 with 18,580 stocks trading, National Enterprises added 20 cents to close at $3.60, with16,425 stock units crossing the exchange. NCB Financial rallied 18 cents to end at $4.74 after just one unit passed through the market, One Caribbean Media remained at $3.30 after an exchange of 15,000 shares, Scotiabank ended at $78.30 while exchanging 301 shares. Unilever Caribbean slipped 9 cents in closing at $12.80 after a transfer of 133 units and West Indian Tobacco rose $1 to close at $22 in exchanging 14,222 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks start the new year mixed on TTSE
Another week of ICTOP10 changes
The Jamaica Stock Exchange Main Market recorded two weeks of solid gains to close out a disappointing 2022, with the Main Market declining after a promising start, with the market adding 17,123 points in the last two weeks while the All Jamaica added 22,797 points and the Junior Market put on 93 points in the same period, resulting in movements in and out of the TOP10 in both markets.
Junior Market action resulted in Caribbean Cream popping 19 percent to $4, followed by Caribbean Assurance with a 9 percent rise to $2.16, Tropical Battery chipped in with a 7 percent increase to $2.30 and Paramount Trading rose 5 percent to $1.99. General Accident was the biggest loser with a fall of 12 percent to $4.41, Lasco Distributors slipped 8 percent to $2.50 and Lasco Manufacturing declined 6 percent to $3.95.
In the Main Market, Radio Jamaica rose 24 percent to $2.60, followed by JMMB Group up 6 percent to $34 and Jamaica Broilers up 5 percent to $31. The only losing stock in the Main Market is Guardian Holdings dropping 12 percent to $570.
In the Main Market, with the rise in the price of Radio Jamaica, Scotia Group reclaimed its TOP10 spot once more as RJR slipped out after reentering the TOP10 in the previous week, The Junior Market’s Tropical Battery dropped out of the TOP10 and replaced by Knutsford Express.
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 15.3, while the Junior Market Top 10 PE sits at 6.2 versus the market at 12.9, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 228 percent and the Main Market TOP10, an average now of 269 percent, to May 2023.
The Junior Market has 15 stocks representing 32 percent of the market, with PEs from 15 to 35, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18 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 20 highest valued stocks priced at a PE of 15 to 110, with an average of 33.5 and 24 excluding the highest valued ones and 22 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.
JSE USD Market raps up 2022 with 19.7% rise
Trading on the Jamaica Stock Exchange US dollar market ended on Friday and for 2022, with the market gaining 19.7 percent for the year after the JSE US Denominated Equities Index closed 2.39 points higher on Friday to end at 233.97, following a 54 percent dip in the volume of stocks changing hands after 88 percent less funds entered the market compared with Thursday, resulting in nine securities traded, compared to eight on Thursday with five rising, one declining and three ending unchanged.
Overall, 350,984 shares were traded for US$5,053 compared to 758,093 units at US$42,021 on Thursday.
Trading averaged 38,998 units at US$561, 94,762 shares at US$5,253 on Thursday, with month to date average of 39,679 shares at US$1,492 compared with 39,721 units at US$1,550 on the previous day. November ended with an average of 33,854 units for US$3,351.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6 at the close Friday. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, Margaritaville popped 2.09 cents to close at 13.99 US cents in exchanging one share, MPC Caribbean Clean Energy rallied 1 cent to 61 US cents while exchanging 162 units, Productive Business Solutions remained at US$1.804 with investors transferring 50 stock units. Proven Investments shed 0.3 cents to end at 19 US cents in switching owners of 7,837 stocks, Sterling Investments rose 0.13 of a cent after ending at 2.13 US cents with the swapping of 183 stock units, Transjamaican Highway gained 0.08 of a cent in ending at 0.98 of one US cent, with 342,741 stocks crossing the market.
In the preference segment, Productive Business 9.25% preference share ended at US$11.05 with an exchange of 5 units, Eppley 6% preference share rose 2 cents to close at US$1.08 with an exchange of 3 shares and Equityline Mortgage Investment preference share remained at US$1.67 after a transfer of 2 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trinidad stocks fall 3.7% for 2022
The Trinidad and Tobago Stock Exchange closed out 2022 on Friday with a modest rise with the Composite Index slipping 1.70 points to 1,332.15, for a fall of 11 percent for the year. the All T&T Index increased 0.46 points to 2,007.80 to end the year with a decline of 3.7 percent and the Cross-Listed Index fell 0.56 points to settle at 85.26 and declining 29.9 percent for the year.
The market closed with the volume of stocks traded rising 53 percent, with the value 12 percent more than on Thursday resulting in 17 securities trading compared with 20 on Thursday, with seven stocks rising, five declining and five remaining unchanged.
Investors traded 757,469 shares for $7,117,065 up from 494,036 stock units at $6,344,529 on Thursday.
An average of 44,557 units were traded at $418,651 compared to 24,702 shares at $317,226 on Thursday, with trading month to date averaging 42,745 shares at $474,822 versus 42,660 units at $477,489 on the previous day. The average trade for November amounts to 51,348 at $461,794.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $50 with an exchange of 5,177 shares, Calypso Macro Investment Fund ended at $21.15 with investors transferring 1,110 stock units, CinemaOne added 95 cents to close at a 52 weeks’ high of $8.20 in switching ownership of 14 stocks. Clico Investment Fund rallied $1 to end at $28 with 95,917 units crossing the market, First Citizens Group declined 22 cents to $52 as investors exchanged 6,802 stock units, FirstCaribbean International Bank dipped 65 cents to $5.15 after an exchange of 54,591 shares. GraceKennedy popped 29 cents to close at $4.49, with 550 units changing hands, Guardian Holdings climbed 16 cents in closing at $27.15, with 7,445 stocks crossing the exchange, JMMB Group ended at $1.92, with 66,001 units clearing the market. Massy Holdings remained at $4.50 after an exchange of 469,121 shares, NCB Financial rose 5 cents in closing at $4.56 with 34,000 stock units changing hands, Prestige Holdings gained 17 cents to $6.27 after a transfer of 1,190 stocks. Republic Financial popped 1 cent to $139 in trading 4,830 stocks, Scotiabank shed 9 cents to close at $78.30 as 1,564 units passed through the market, Trinidad & Tobago NGL dropped 29 cents to end at $23.21 with a transfer of 4,240 shares. Trinidad Cement remained at $3.90 in an exchange of 1,000 stock units and Unilever Caribbean fell 1 cent in closing at $12.89 after 3,917 units were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big fall for JSE USD Market
The Jamaica Stock Exchange US dollar market suffered a sharp reversal of recent gains with the market index diving 26.46 points to close at 231.58 after Productive Business Solutions had a massive decline in price on Thursday, after the volume of stocks changing hands declining 22 percent with a 187 percent greater value than on Wednesday, resulting in trading in eight securities, similar to the number traded on Wednesday and ended with two rising, four declining and two ending unchanged.
Overall, 758,093 shares were traded for US$42,021 compared with 966,219 units at US$14,629 on Wednesday.
Trading averaged 94,762 units at US$5,253 versus 120,777 shares at US$1,829 on Wednesday. Trading month to date average 39,721 shares at US$1,550 versus 36,460 units at US$1,331 on the previous day. November ended with an average of 33,854 units for US$3,351.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share advanced 0.7 of a cent to 7.9 US cents after swapping 415,000 shares, MPC Caribbean Clean Energy dipped 5 cents to close at 60 US cents, with 866 stock units changing hands, Productive Business Solutions fell 44.6 cents in closing at US$1.804 after trading 57 units. Proven Investments popped 0.15 of a cent to 19.3 US cents trading 23,226 stocks, Sterling Investments dropped 0.18 of a cent to end at 2 US cents in an exchange of 13,256 units and Transjamaican Highway shed 0.07 of a cent after ending at 0.9 of one US cents in trading 304,858 shares.
In the preference segment, Equityline Mortgage Investment preference share remained at US$1.67 as investors exchanged one stock unit and JMMB Group 5.75% ended at US$1.50 with a transfer of 829 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.