In a week when most results for the 2024 first quarter were released, the JSE Jamaica Stock Exchange junior market had major swings while the Main Market continued to record gains. Only three stocks in the IC TOP10 recorded notable gains while 4 suffered sizable declines, the impact was that 3 new stocks entered the TOP10.
Dropping from the ICTOP10 this week are ISP Finance from the Junior Market and from the Main Market General Accident and Scotia Group. Earnings for ISP Finance were adjusted to $1.60 per share to reflect what the first quarter results suggest. Prices of General Accident and Scotia Group moved up slightly and were replaced by stocks that had lower prices by the end of the week.
tTech gained 9 percent to close at $2.20 following the company reporting earnings for the first quarter. Based on the report and other data, earnings for the current year have expanded to 35 cents per share, up from 30 cents originally projected. This is the only major upward price move in the week, for the Junior Market ICTOP10 as AMG Packaging, fell 17 percent $2.89, followed by Access Financial and Caribbean Assurance Brokers each down 9 percent to close at $18.00 and $3.20 respectively and ISP Finance chipped in with a 5 percent fall to $28.01 had your full cup chopped 4 percent to $0.90.
In the Main Market, Berger Pant, added to the list last week, jumped 17 percent to close at $8.50. Compared to last week, more sellers came into the market than at the close the previous week, but that did not prevent the stock from posting gains of 70 percent just before the company released results during the last week. selling in the stock is moderate below $12. Palace Amusement rose 6 percent to $1.08, while there were no major losses in the market during the week.
Dolla Financial is the only new listing for the ICTOP10 Junior Market for the week. In the Main Market, Pulse Investments and Lasco Manufacturing which dropped out of the list last week, are now in the ICTOP10.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 13.3 and the Junior Market TOP10 sits at 7.3, just over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 220 percent over the same period.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 79, with an average of 32 and 20 excluding the highest PE ratios, and a PE of 20 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 41, averaging 20, well above the market’s average. The average PE in the top half of the market is 17, possibly the lowest fair value for stocks, currently.
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 an exchange of 280,988 shares for US$32,878 compared to 102,017 units at US$10,991 on Thursday.
At the close, First Rock Real Estate USD share slipped 0.01 of a cent to 4.69 US cents with 106 shares crossing the market, Proven Investments lost 0.79 of one cent in closing at 13.09 US cents with investors trading 242,886 stock units and Transjamaican Highway rose 0.02 of a cent to end at 2.05 US cents after 37,951 shares passed through the market.
The market closed with 26,822,609 shares trading for $484,009,143 up from just 6,147,676 units for a mere $35,957,977 on Thursday.
The All Jamaican Composite Index climbed 1,282.66 points to 358,400.25, the JSE Main Index increased 854.69 points to end trading at 321,317.22 and the JSE Financial Index rose 0.34 points to settle at 68.27.
Jamaica Broilers popped 49 cents to close at $31 after 22,298 units crossed the market, Jamaica Stock Exchange sank $2.01 to close at $9.25 after an exchange of 3,201 stocks, JMMB Group shed 51 cents to end at $23.50 after 27,027 units were traded. Kingston Wharves advanced $1.04 to close at $26 with an exchange of 8,458 stocks, Mayberry Group gained 50 cents in closing at $8 as 10,016 shares passed through the market, NCB Financial rose $1 to end at $63 as investors exchanged 569,374 stock units. Pan Jamaica gained $1.50 to close at $47.50 with a transfer of 5,734 shares, Sagicor Real Estate Fund popped 59 cents to close at $7.64 after an exchange of 23 stocks, Scotia Group rallied $1.75 in closing at $43.25 with investors transferring 64,233 units. Seprod declined $2 to end at $78, with 614 stock units changing hands and Wisynco Group lost 65 cents to finish at $20.50 after an exchange of 8,096 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with 5,151,901 shares for $13,657,450 versus 11,052,377 units at $16,339,934 on Thursday.
The Junior Market ended trading with an average PE Ratio of 12.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending on or around August 2025.
GWest Corporation sank 8 cents to 94 cents after an exchange of 36,157 stocks, Indies Pharma dropped 33 cents to $2.36 with investors trading 110,000 stocks, Jamaican Teas gained 9 cents and ended at $2.39 in switching ownership of 151,903 shares. Jetcon Corporation lost 12 cents to end at 87 cents with investors trading 843 stock units, JFP Ltd advanced 14 cents in closing at $1.18 in an exchange of 25,304 stocks, Lasco Financial rose 19 cents to close at $1.69 with investors trading 878 units. Limners and Bards rallied 24 cents to close at $1.76, with 143,518 stocks changing hands, Medical Disposables skidded 8 cents to finish at $2.20 with traders dealing in 553 units, ONE on ONE Educational increased 7 cents and ended at 82 cents with 25,172 shares clearing the market and Paramount Trading climbed 16 cents to end at $1.45 in trading 26,982 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading finished with an exchange of 500,062 shares for $2,826,343 up from 149,857 stocks at $1,186,026 on Thursday.
Ansa McAl ended at $57 with investors dealing in 6,847 units, Ansa Merchant Bank declined $2.50 in closing at $42.50 after trading of 1,500 shares, Calypso Macro Investment Fund remained at $24, with 972 stock units changing hands. First Citizens Group lost 26 cents to close at $46.25 with investors trading 1,443 stocks, FirstCaribbean International Bank dipped 3 cents to end at $6.90 after a transfer of 138,923 units, GraceKennedy ended at $3.90 as investors exchanged 73,142 shares. Guardian Holdings fell 9 cents in closing at $16.91 in switching ownership of a mere 8 stocks, JMMB Group popped 4 cents to end at $1.34 after an exchange of 125,155 units, Massy Holdings skidded 18 cents to close at $4.01 with investors trading 15,969 stock units. National Enterprises sank 15 cents to $3.50 with an exchange of 3,240 shares, NCB Financial increased 8 cents and ended at $2.70 after 88,000 units passed through the market, Point Lisas shed 20 cents to finish at $3.50 after an exchange of 210 stocks. 
Prestige Holdings ended at $13 with a transfer of 40 stock units, Republic Financial ended at $117.99 after 763 shares crossed the market, Scotiabank ended at $67.50 in an exchange of 1,570 stock units. Trinidad Cement dipped 5 cents in closing at $2.55 with traders dealing in 3,552 stocks, Unilever Caribbean slipped 24 cents to $11.76, with 2,245 stock units crossing the exchange and West Indian Tobacco slipped 1 cent to end at $9 in trading 35,476 shares.
The market closed with an exchange of 102,017 shares for US$10,991 compared with 379,029 stock units at US$8,339 on Wednesday.
Proven Investments fell 0.01 of a cent and ended at 13.88 US cents after closing with 2,965 stocks changing hands, Sygnus Credit Investments rose 0.78 of one cent to finish at 8.48 US cents with a transfer of 5 shares and Transjamaican Highway dipped 0.08 of a cent to close at 2.03 US cents, with 98,221 stock units changing hands.
The market closed with an exchange of 6,147,676 shares for $35,957,977 compared with 12,161,308 units at $176,680,058 on Wednesday.
The Main Market ended trading with an average PE Ratio of 12.4. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
GraceKennedy sank $2 to $74 with a transfer of 92,957 units, Guardian Holdings climbed $9.98 to finish at $369.98 after 200 stock units passed through the market, Jamaica Broilers slipped 59 cents and ended at $30.51 with investors transferring 40,644 shares. Jamaica Stock Exchange popped $2.22 to close at $11.26 after an exchange of 11,305 stock units, JMMB Group lost 49 cents in closing at $24.01 in trading of 105,121 units, Kingston Wharves dipped $1.04 to end at $24.96 and closed after an exchange of 3,446 stocks. NCB Financial skidded $1.99 in closing at $62 with an exchange of 39,680 units, Pan Jamaica fell $1.50 to $46, with 3,190 stocks crossing the market, Sagicor Real Estate Fund shed 59 cents to finish at $7.05 as investors exchanged 307 shares. Scotia Group dipped 50 cents and ended at $41.50 in switching ownership of 112,313 stock units and Stanley Motta lost 93 cents to end at $6.61, with 3,572 shares changing hands.
In the preference segment, 138 Student Living preference share skidded $4.03 to close at $214 in an exchange of 22 stock units, Productive Business Solutions 9.75% preference share sank $8.50 to $105 with investors dealing in 1,200 stocks and Sygnus Credit Investments C10.5% slipped $2 to finish at $108 after exchanging 500 units.
Trading ended with 11,052,377 shares for $16,339,934 down sharply from 50,366,450 stocks at $107,450,383 on Wednesday.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
Everything Fresh dipped 15 cents to end at $1.70 after 160,656 stocks crossed the market, Fontana lost 20 cents to finish at $8.30 with a transfer of 56,095 units, Honey Bun advanced 64 cents to close at $7.90, with 17,713 stock units changing hands. Indies Pharma gained 32 cents to $2.69 after 5,422 shares passed through the market, Lasco Financial dropped 19 cents to end at $1.50 in switching ownership of 138,593 units, Lumber Depot shed 14 cents in closing at $2.50 with 213,320 stocks crossing the exchange. Medical Disposables popped 28 cents and ended at $2.28 after investors ended trading 745 stock units, MFS Capital Partners advanced 7 cents to close at $1.46 in an exchange of 644,161 shares, Paramount Trading rose 12 cents to finish at $1.29 with investors swapping 15,222 stock units. Spur Tree Spices skidded 9 cents to $2.20 and closed with an exchange of 284,615 units and Tropical Battery rallied 12 cents to end at $2.40 as investors exchanged 564,469 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
resulting in declines in the market indices as the volume of stocks traded fell by 42 percent, valued 54 percent less than on Wednesday. 
At the close, Agostini’s shed 15 cents to end at $68.60 with investors trading 100 shares, Angostura Holdings fell $2.96 to $17.04 with an exchange of 2,796 stocks, Ansa McAl remained at $57, with 6,000 units crossing the market. Ansa Merchant Bank ended at $45 in trading 10 stock units, Calypso Macro Investment Fund climbed $1 to finish at $24, with 10 shares passing through the exchange, Endeavour Holdings skidded 1 cent to end at $15 after a transfer of 650 units. First Citizens Group popped 1 cent to $46.51 and closed with an exchange of 2,067 stocks, FirstCaribbean International Bank ended at $6.93 with 30 stock units changing hands, GraceKennedy remained at $3.90 after 15 shares crossed the market. Guardian Holdings ended at $17 after an exchange of 100 stocks, Guardian Media ended at $1.80 with investors transferring 100 units, JMMB Group gained 1 cent to close at $1.30 after an exchange of 100 stock units. 
L.J. Williams B share fell 1 cent to $1.88 in switching ownership of 6 shares, Massy Holdings remained at $4.19 as investors exchanged 31,096 stock units, National Enterprises ended at $3.65 with 181 stocks clearing the market. National Flour Mills rose 25 cents to finish at $2.25 with investors dealing in 5,793 units, NCB Financial rallied 2 cents to close at $2.62 after 79,898 shares changed hands, One Caribbean Media remained at $3.70 with investors trading 56 stocks. Point Lisas ended at $3.70 in an exchange of 150 units, Prestige Holdings increased 40 cents to $13 with investors swapping 40 stock units, 
Republic Financial advanced 99 cents to close at $117.99 with a transfer of 655 shares. Scotiabank rose $1.19 to end at $67.50 after 889 units passed through the market, Trinidad & Tobago NGL closed with traders dealing in 2,674 stocks at $7.75, Trinidad Cement ended at $2.60, with 50 stock units crossing the market. Unilever Caribbean advanced 1 cent to $12 with investors transferring 8,746 shares and West Indian Tobacco popped 1 cent to end at $9.01 and closed after 7,645 stock units changed hands.
The market closed trading with an exchange of 259,085 shares for $2,567,104 compared to 216,912 stock units at $3,237,041 on Tuesday.
At the close, Agostini’s ended at $68.75 with a transfer of 11,548 stock units, Angostura Holdings ended at $20 after an exchange of 50 shares, Ansa Merchant Bank ended at $45 in switching ownership of 310 stocks. Calypso Macro Investment Fund remained at $23 with traders dealing in 978 units, Endeavour Holdings rose 1 cent to $15.01 in an exchange of 820 stocks, First Citizens Group closed trading with 2,489 stock units at $46.50. FirstCaribbean International Bank remained at $6.93 with investors trading 1,165 shares, Guardian Holdings ended at $17 after an exchange of 9,222 stocks, JMMB Group slipped 5 cents to $1.29 after 26,680 shares crossed the exchange. Massy Holdings ended at $4.19 with investors dealing in 13,204 stock units, National Enterprises finished market activity at $3.65 with 10,801 stocks clearing the market, NCB Financial fell 30 cents to end at $2.60 with an exchange of 151,473 units.
One Caribbean Media ended at $3.70, with just 4 stocks crossing the market, Prestige Holdings dropped 40 cents to $12.60 with investors swapping 18 shares, Republic Financial sank $1 to end at a 52 weeks’ low of $117 after a transfer of 4,760 stock units. Scotiabank dipped 69 cents to $66.31, with 2,353 units crossing the market, Trinidad & Tobago NGL lost 21 cents and ended at a 52 weeks’ low of $7.75 as investors exchanged 11,400 stocks, Unilever Caribbean remained at $11.99 after 1,221 units passed through the market and West Indian Tobacco ended at $9 with investors transferring 10,589 shares.