The markets were relatively stable during the week, the Jamaica Stock Exchange Main Market index posted losses of just 730 points, the All Jamaica Composite Index declined by 489 points and the Junior Market declined by 37 points or one percent, resulting in prices of 6 stocks falling in the Main Market TOP10 while the Junior Market TOP10 had a better week than the Main Market, with 5 stocks rising and 4 declining.
Guardian Holdings continues to hold on to the number one buy position in all markets and Elite Diagnostic the best in the Junior Market.
In the Junior Market ICTOP10, tTech recovered last week’s heavy loss by climbing 20 percent to $2,11, Caribbean Cream popped 9 percent to close the week at an enticing $3.45. Iron Rock Insurance rose 8 percent to $3.66 and AMG Packaging gained 4 percent to $2.85. One Great Studio and Lumber Depot fell by 4 percent to 70 cents and $2.78 respectively.
In the Main Market ICTOP10, Pulse Investments jumped 14 percent to $1.71and Berger Paints rose 5 percent to $8.44. Key Insurance dumped 27 percent of its value to end at $2.10, followed by General Accident dropping 13 percent to $5.75and VM Investments fell 5 percent to $2.60.
Image Plus fell out of the Junior Market IC TOP10 and was replaced by Express Catering. No stock moved in or out of the JSE Main Market ICTOP 10 this week.
Caribbean Cream dropped out of the All JSE TOP10 list but still remains in the Junior Market TOP10, following release of its six month results that showed a major improvement in profit over the similar period in 2023. The results fell below ICInsider.com projections, accordingly, the latest forecast is for 45 cents per share for the year.
The All JSE TOP10 is compiled from all ordinary stocks listed on the Jamaica Stock Exchange with the highest potential to gain, based on projected 2024 earnings. This list is more exact than the Junior and Main Market TOP10 lists.
The average PE for the JSE Main Market ICTOP 10 stands at 5, well below the market average of 14 and the Junior Market TOP10 sits at 6.5, just more than half of the market, with an average of 12.
The Main Market ICTOP10 is projected to gain an average of 307 percent by May 2025, based on 2024 forecasted earnings and provide better values than the Junior Market with the potential to achieve 214 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market have PEs between 15 to 108, with an average of 28 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, 23 percent of the market, with PEs ranging from 15 to 23 and a PE of 15 for half of the market with the highest values.
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 2025 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.
The market closed with 11,422,541 shares trading for $58,122,200 compared with 10,864,715 units at $66,883,337 on Tuesday.
The Main Market ended trading with an average PE Ratio of 14.4. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Eppley Caribbean Property Fund rose $2.90 and ended at $41.90 with 47 stock units clearing the market, Guardian Holdings slipped $13.01 to close at $314.99 after a transfer of 5,902 shares, Jamaica Broilers advanced 99 cents to finish at $36.75 in switching ownership of 5,947 stocks. Jamaica Stock Exchange gained 53 cents to $10.64 as investors exchanged 6,809 units, JMMB Group rallied $1.85 to close at $22.90 in trading 15,819 stock units, Mayberry Group fell 79 cents and ended at $7.26 in an exchange of 51,174 shares. NCB Financial shed 41 cents to end at $52.99 after 20,137 stocks passed through the market, Sagicor Group increased $2 in closing at $39 with an exchange of 120 units and Seprod popped 80 cents to finish at $81.50 with 15,447 stock units changing hands.
In the preference segment, Jamaica Public Service 9.5% sank $210 to $2690 after an exchange of 1,133 shares and Sygnus Credit Investments C10.5% increased 40 cents in closing at $105 with investors dealing in 39 stock units.
The market closed with 3,575,600 shares being traded valued $6,737,028 compared with 5,522,042 stock units at $7,976,248 on Tuesday.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
Jetcon Corporation fell 11 cents in closing at $1.05 with investors swapping 6,104 stock units, KLE Group gained 12 cents to finish at $1.32 with an exchange of 20,022 units, Knutsford Express sank $1.18 to end at $10.45 trading 27,981 stocks. Limners and Bards dropped 12 cents in closing at $1.36 in an exchange of 5,098 units, Lumber Depot sank 8 cents to $2.70 with 30,150 stocks clearing the market, Mailpac Group slipped 10 cents to finish at $2.30 with investors trading 391,285 shares. Main Event popped 32 cents and ended at $11.32 after closing with 59 stock units changing hands, Medical Disposables declined 39 cents to end at $1.90 in an exchange of 163,007 shares, MFS Capital Partners skidded 10 cents to close at 70 cents with traders dealing in 188,683 units. 
Spur Tree Spices
The market closed with trading of 5,522,042 shares for $7,976,248 compared with 11,943,047 units at $17,624,061 on Friday.
The Junior Market ended trading with an average PE Ratio of 11.7, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending around August 2025.
Fontana slipped 14 cents and ended at $7.86, with 50,989 stocks changing hands, Honey Bun rose 17 cents to $8.41 with investors swapping 1,989 stock units, Indies Pharma sank 7 cents to finish at $2.96, with 66,140 shares crossing the market. Iron Rock Insurance advanced 28 cents to close at $3.94 with investors trading 24 stock units, ISP Finance skidded $4.99 to end at $20.01 with 12,001 units clearing the market, Jetcon Corporation gained 11 cents in closing at $1.16 after a transfer of 9 stocks. KLE Group rallied 11 cents to $1.20 with investors trading 33 units, Knutsford Express dipped 27 cents to end at $11.63 after an exchange of 548 stocks, Main Event declined 60 cents in closing at $11 with a transfer of 753 shares and tTech shed 21 cents and ended at $1.90 in trading 100 stock units.
Prices of securities trading are those for the last transaction of each stock 
National Flour Mills
The market closed with 
The All Jamaican Composite Index sank 618.05 points to settle at 357,496.90, the JSE Main Index lost 1,151.31 points to close at 311,890.12 and the JSE Financial Index popped 0.21 points to end at 65.41.
Jamaica Broilers sank $1.63 in closing at $35.50 with traders dealing in 513,394 stocks, JMMB Group slipped 64 cents to $21.66 after 49,090 units passed through the market, Kingston Wharves sank $1.22 to finish at $25.83 with investors dealing in 885 stocks. Massy Holdings advanced $4 and ended at $78 after 318,735 stock units were exchanged, MPC Caribbean Clean Energy dipped $12.99 to end at $75 with investors trading 30 shares, NCB Financial popped 62 cents to close at $53.16 in an exchange of 19,190 stock units. Pan Jamaica rallied $1.96 to $48.96 with 5,471 shares clearing the market, Sagicor Group fell $1.51 in closing at $37.54 as investors exchanged 8,085 stock units, Sagicor Real Estate Fund skidded 41 cents and ended at $7.53 with a transfer of 16,320 stocks. Scotia Group gained $1.20 to finish at $45.20 with investors swapping 313,527 units, Sygnus Real Estate Finance lost 76 cents to close at $10.02 after a transfer of 649 shares and Wisynco Group shed 83 cents to end at $20.61 with 24,471 stocks changing hands.
In the preference segment, Jamaica Public Service 7% climbed $2 to $46 after an exchange of just 4 units and 138 Student Living preference share popped $12.98 to finish at $199.74 with investors trading 20 stock units.
Trading climbed sharply on Friday with an exchange of 11,943,047 shares for $17,624,061 up solidly from 4,082,483 units at $8,098,206 on Thursday.
The Junior Market ended trading with an average PE Ratio of 11.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending around August 2025.
GWest Corporation gained 7 cents in closing at 97 cents with 415 stocks clearing the market, Jetcon Corporation slipped 12 cents to close at $1.05 with an exchange of 71 units, KLE Group sank 11 cents to finish at $1.09 in trading 10,041 stock units. Knutsford Express increased 29 cents and ended at $11.90 in an exchange of 4,519 shares, Main Event climbed 26 cents to $11.60 with 1,355 units crossing the market, Medical Disposables declined 7 cents to close at $2.30 with investors trading 100 stocks. Spur Tree Spices shed 11 cents in closing at $1.87 with 312,942 stock units changing hands and Tropical Battery skidded 7 cents to finish at $2.50 in an exchange of 57,443 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.