Declining stocks doubled those rising at the close of market activity on the Trinidad and Tobago Stock Exchange on Tuesday and resulted in a big drop in volume and value of stocks trading compared to Monday.
Seventeen securities traded, down from 21 on Monday, with five rising, 10 declining and two closing unchanged.
The Composite Index popped 0.95 points to 1,521.58, the All T&T Index rose 2.58 points to 2,131.58 and the Cross-Listed Index lost 0.11 points to settle at 121.77.
A total of 139,988 shares traded, for $972,176 in contrast with, 2,793,605 units at $10,485,578 on Monday. An average of 8,235 units traded at $57,187 versus 133,029 at $499,313 on Monday, and month to date averaging 38,423 units at $235,117 compared to 43,264 units at $263,655. The average trade for December ended 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s spiked $1 in closing at a 52 weeks’ high of $36 after exchanging 56 shares, Ansa McAl ended at $59.50, with 239 units changing hands, Clico Investment Fund remained at $30 after exchanging 550 stock units. First Citizens Group slipped 1 cent to $66.98 while exchanging 14 stocks, FirstCaribbean International Bank shed 1 cent in ending at $6.14 with an exchange of 25,210 stock units, GraceKennedy fell 5 cents to $6.15 after trading 200 shares. Guardian Holdings rose 25 cents to end at $30 in switching ownership of 98 units, JMMB Group gained 3 cents to close at $2.30, with 42,800 stocks changing hands, L.J Williams B share lost 4 cents to close at $1.80 in trading 964 shares. Massy Holdings declined 1 cent to $106.49 after trading 1,500 units, National Enterprises dipped 1 cent in closing at $3.75, with 42,816 stocks clearing the market, NCB Financial Group declined 1 cent in ending at $8 with the swapping of 10,000 stock units. Point Lisas climbed 47 cents to $3.62 in exchanging 500 stocks, Scotiabank rose $1 to close at $70, with 425 stock units crossing the exchange, Trinidad & Tobago NGL lost $1.21 to end at $18.78 with 210 shares changing hands. Unilever Caribbean shed 4 cents to land at $16.15 in an exchange of 13,600 units and West Indian Tobacco fell 12 cents to $28.38 after trading 806 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declining stocks dominate on Trinidad exchange
Moderate trading for JSE USD Market
Trading continued on Monday with a moderate volume of shares changing hands on the Jamaica Stock Exchange US dollar market, resulting in more declining stocks having the edge over rising stocks at the close of market activity.
Six securities traded compared to five on Friday with prices of one rising, two declining and three ending unchanged. The JSE US Denominated Equities Index lost 3.95 points to end at 197.70.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.3. The PE ratio uses ICInsider.com earnings forecasts for companies with the financial year to August 2022.
A total of 473,373 shares were traded on Monday for US$17,944, down from 450,320 units at US$19,475 on Friday.
Trading averaged 78,896 units at US$2,991, compared to 90,064 shares at US$3,895 on Friday, with the month to date averaging 36,843 shares at US$1,953 versus 27,139 units at US$1,714 on the previous trading day. December ended with an average of 439,975 units for US$68,382.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, First Rock Capital USD share rose 0.82 of a cent to 6.92 US cents trading 30,804 shares, Proven Investments ended unchanged at 22 US cents after trading 39,420 stock units, Sygnus Credit Investments USD share fell 0.99 of a cent in closing at 12.01 US cents after exchanging 15,750 stocks. Sygnus Real Estate Finance USD share remained at 14 US cents with 16,900 units changing hands and Transjamaican Highway shed 0.04 of a cent to close at 0.87 US cents in switching ownership of 370,199 shares.
In the preference segment, JMMB Group 6% finished unchanged at US$1.05 after 300 stock units crossed the market
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up in Trinidad
Market activity picked up on Monday on the Trinidad and Tobago Stock Exchange, resulting in 140 percent more shares trading, with a 156 percent higher value than Friday, as the market closed with falling stocks beating rising ones on a two to one ratio.
A total of 21 securities traded up from 12 on Friday, with four rising, eight declining and nine ending unchanged. The Composite Index gained 0.48 points to end at 1,520.63, the All T&T Index fell 0.89 points to close at 2,129.00 and the Cross-Listed Index added 0.27 points to settle at 121.88.
Overall, 2,793,605 shares traded, for $10,485,578 compared to 1,164,654 units at $4,097,849 on Friday. An average of 133,029 units traded at $499,313 up from 97,055 at $341,487 on Friday, with trading month to date averaging 43,264 units at $263,655 versus 21,087 units at $205,435. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s gained $1 to end at $35, after 300 shares crossed the market, Angostura Holdings ended unchanged at $20, with 5,451 stock units changing hands, Ansa McAl remained at $59.50 in an exchange of 45 units. CinemaOne shed 5 cents to close at $4.20 in trading 250 stocks, Clico Investment Fund finished at $30 after exchanging 7,180 units, First Citizens Group dipped 1 cent in closing at $66.99 after an exchange of 200 stock units. FirstCaribbean International Bank closed at $6.15 in exchanging 3,000 stocks, GraceKennedy fell 4 cents to $6.20 in switching ownership of 931 shares, Guardian Holdings lost 25 cents to end at $29.75 trading 7,338 shares. JMMB Group dropped 3 cents to close at $2.27 with the swapping of 2,435,193 units, Massy Holdings finished unchanged at $106.50 with an exchange of 4,819 stocks, National Enterprises advanced 35 cents to $3.76 trading 10,122 stock units. National Flour Mills ended unchanged at $1.95, with 5,385 stocks crossing the exchange, NCB Financial Group popped 1 cent to end at $8.01 after trading 274,066 shares, One Caribbean Media ended unchanged at $4.44 while exchanging 18,010 stock units. Republic Financial Holdings plunged $4.76 to $140.22, with 8,574 units clearing the market, Scotiabank dropped $1 to $69 after the trading of 1,563 stocks, Trinidad & Tobago NGL slipped 1 cent in closing at $19.99 after exchanging 10,508 units. Trinidad Cement rose 1 cent to $3.75 trading 325 stock units, Unilever Caribbean finished unchanged at $16.19 in exchanging 245 shares and West Indian Tobacco remained at $28.50, with 100 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ICTOP10 scaling new highs
Main Market TOP10 stock, Sagicor Group price fell to $52.31 to return to the TOP10 after closing the previous week at $58 and replaced by Scotia Group that slipped from $36 to $35.50 as both the Main and Junior Markets displayed some bullish signs in the past week, with Caribbean Producers hitting a record high of $15 and gained 436 percent in just over a year.
Other big news for the week was the continued rise of ICTOP10 Main Market stock, Caribbean Producers that closed the week with a gain of 15 percent at a record high of $15 and is now in the sixth spot with the potential to gain another 120 percent in months. Radio Jamaica rose 7 percent for the week to $3.23 and Guardian Holdings rose 5 percent.
Junior Market AMG Packaging rose 6 percent but could climb higher with the first quarter results to November, due this coming week and the company is also expected to announce a dividend. Lasco Financial put on 7 percent to land at $3.20, Elite Dynastic gained 4 percent to $2.95, Caribbean Assurance Brokers climbed as high as $2.75 during the week but closed down at $2.48 for a 3 percent gain, and Access Financial Services fell 10 percent to $17.08 and Lasco Distributors lost 6 percent to $3.20.
Elsewhere, investors in the Spur Tree Spices Initial Public offer will receive just over 11.76 percent of the shares they applied for in the heavily oversubscribed issue that is sure to drive the stock price with a big bang in the first week of trading which should be ahead of the end of January.
The top three Main Market stocks, this week are Guardian Holdings followed by JMMB Group and Radio Jamaica all projected to gain between 199 and 258 percent up from 183 and 261 percent last week.
The Junior Market’s top three stocks for the week are Access Financial Services followed by AMG Packaging and Caribbean Assurance Brokers. All three can gain between 182 and 204 percent versus 174 and 218 percent, previously.
The average gains projected for the TOP 10 Junior Market stocks is 148 percent and Main Market stocks moved from 152 percent to this weeks’ 146 percent.
The Junior Market closed the week, with an average PE of 14.8 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of just 8.2, with a 45 percent discount to that market’s average.
The Junior Market can gain 35 percent to March this year, based on an average PE of 20 and 15 percent based on an average PE of 17. Ten stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level and averaging 25.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.4 representing a 49 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Coming soon reports
Volume rises on JSE USD market
Trading ended Friday, on the Jamaica Stock Exchange US dollar market with the volume of shares changing hands surging 417 percent and the value rising 148 percent higher than Thursday, resulting in more stocks rising than falling.
Five securities changed hands, compared to three on Thursday with prices of two rising, one declining and two left unchanged. The JSE US Denominated Equities Index lost 0.38 points to end at 201.65.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.3. The PE ratio is computed based on ICInsider.com earnings forecasts for companies with the financial year up to August 2022. Overall, 450,320 shares traded, for US$19,475 up from 87,172 units at US$7,865 on Thursday.
Trading averaged 90,064 units at US$3,895, compared to 29,057 shares at US$2,622 on the previous trading day. Trading month to date averages 27,139 shares at US$1,714 versus 12,157 units at US$1,195 on Thursday. Trading in December averaged 439,975 units for US$68,382.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and two stocks with lower offers.
At the close, First Rock Capital USD share ended unchanged at 6.1 US cents with an exchange of 4,898 shares, Proven Investments fell 0.5 of a cent in closing at 22 US cents trading 72,197 units, Sterling Investments remained at 2.06 US cents with 204 stock units changing hands Sygnus Credit Investments USD share inched 0.1 of a cent to 13 US cents trading 24 stocks and Transjamaican Highway gained 0.07 of a cent ending at 0.91 of one US cent in exchanging 372,997 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.