The 2021 calendar year ended on Friday, with the Junior Market rising a near 30 percent and the Main Market just holding above the close of the prior year. Against this backdrop ICInsider.com TOP 15 stocks at the start of the year had a 53 percent average gain in the Junior Market but 64 percent when Honey Bun that was reported on in December 2020 and Future Energy Sources (Fesco) that was Buy Rated when the IPO hit the market was up and impressive 64 percent.
IC Buy Rated Caribbean Producers was by far the best performing stock on the JSE for 2021.
Only three Junior Market stocks declined amongst our selection with Elite being the worse with a loss of 11 percent.
TOP10 MM stock did not do as well as the JM but that was told to readers at the start of the year. The average gain for the TOP15 Main Market stocks was 10 percent that excludes Caribbean Producers. The highest gaining stock from the list was Radio Jamaica up 61 percent and Grace Kennedy 58 percent, the two worse performers were Berger Paints and Scotia Group down 12 percent each.
The big news for the market for the past week continues to be the Initial Public offer of Spur Tree Spices priced at $1 per share that was heavily oversubscribed.
Medical Disposables rose 7 percent for the week to $6.49 and dropped out of the TOP10 and was replaced by General Accident that comes in at $6. In the Main Market TOP10, Sagicor Group rose 9 percent for the week to close at $58 and was replaced by Scotia Group at $36.
During the week AMG Packaging rose 4 percent to $2.20, Access Financial Services lost 9 percent to $19, Lasco Distributors rose 6 percent to $3.47, Elite Diagnostic rose 5 percent to $2.85 and Honey Bun gained 8 percent to $9.25. In the Main Market, Caribbean Producers popped 9 percent to $13, JMMB Group and PanJam Investment rose 3 percent, while losses were suffered by Radio Jamaica down 5 percent and Sterling Investments with a fall of 7 percent
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 top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers and Access Financial Services. All three can gain between 174 and 218 percent versus 158 and 230 percent, previously.
The average gains projected for the TOP 10 Junior Market stocks remained unchanged at 149 percent and Main Market stocks moved from 154 percent to this weeks’ 152 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 a mere 8.2, with a 45 percent discount to that market’s average.
The Junior Market can gain 35 percent to March next year, based on an average PE of 20 and 15 percent based on an average PE of 17.
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 8.2 representing a 50 percent discount to the market and well below the potential of 20. A total of 13 stocks or 28 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.
Investors kept up the bullish stance in trading on the Jamaica Stock Exchange on the first trading day of the year with the All Jamaican Composite Index surging 8,895.04 points to 447,223.41, up from 438,328.37 at the close on Friday, with the Junior Market index(AJI) rising 45.88 points to 3474.18 from 3,428.30 on Friday.
Trading averaged 944,525 shares at $2,855,225, up from 67,919 shares at $275,145 on Thursday and month to date, an average of 409,209 units at $1,318,877, compared to 381,298 units at $1,238,760 on Thursday. November closed with an average of 409,209 units at $1,318,877.
General Accident slipped 10 cents to $6 in exchange for 734 units, Honey Bun gained 65 cents to end at $9.25 in trading 2,470 stocks, Indies Pharma increased 45 cents to $3.50 in exchanging 172,196 stock units. Jetcon Corporation popped 13 cents to 93 cents, with 32,136 stock units crossing the market, Limners and Bards rose 7 cents in closing at $3.87 in swapping 161,315 stocks, Lumber Depot advanced 13 cents to $3.11 after trading 829,315 shares and Mailpac Group rose 28 cents in closing at $3.78 with 1,378,158 units clearing the market.
The All Jamaican Composite Index declined by 4,131.53 points to 438,328.37, up 1.1 percent for the year. The JSE Main Index dropped 3,119.89 points to 396,155.61 and ended the year with a marginal increase of 0.1 percent and the JSE Financial Index declined 1.03 points to settle at 98.05, down 4 percent for the year.
Trading on Friday averaged 961,006 units at $20,749,789 compared to 1,684,157 shares at $41,166,632 on Thursday and month to date an average of 479,143 units at $6,686,322, up from 455,849 units at 6,006,477 on Thursday. Trading in November averaged 479,143 units at $6,686,322.
138 Student Living rose 26 cents to $4.45 trading 27,330 shares, Palace Amusement dropped $10 to $1040, with 21 stocks crossing the market, PanJam Investment advanced $1 to $66, with 2,835,794 units changing hands, Proven Investments lost 50 cents to end at $33 after exchanging 29,177 stocks. Pulse Investments fell 30 cents to $4.40 after exchanging 1,371,217 shares, Sagicor Group rose $2 to $58 with the swapping of 4,173,260 stock units, Sagicor Real Estate Fund gained 50 cents in closing at $8.50 in exchanging 127,331 units. Salada Foods rallied 47 cents to end at $6.97, with 16,259 stocks crossing the market, Scotia Group shed $1.21 to close at $36.40 after trading 3,774,443 shares, Seprod gained $3 after ending at $65 in an exchange of 46,626 stock units. Supreme Ventures climbed 40 cents to $18.50 in an exchange of 954,593 stocks, Sygnus Real Estate Finance advanced 59 cents to close at $16 after 400 stock units cleared the market and Wisynco Group popped 55 cents to $17.50 with an exchange of 479,961 units.
At the close of trading, First Rock Capital USD share shed half of a cent to end at 6 US cents in exchanging 9,000 shares, Proven Investments fell 0.2 of a cent to 22.79 US cents while exchanging 102,069 stocks, Sygnus Credit Investments USD share ended at 12.9 US cents after trading 7 shares and Transjamaican Highway increased 0.06 of a cent to 0.9 of a US cent in switching ownership of 1,326,010 units.
Caribbean Producers was switched from the Junior Market in July this year to the Min Market with the price under $5 and ended the year as the best performing stock in the overall market with a towering gain of 364 percent with the price closing at $13. Had the switch not taken place the Junior Market would have recorded greater gains than it did. Ciboney rose 221 percent as investors speculated heavily on it and 
At the close, the All Jamaican Composite Index jumped 2,495.30 points to end at 442,459.90, the JSE Main Index rose 2,173.27 points to 399,275.50 and the JSE Financial Index added 1.19 points to settle at 99.08. Trading ended with 51 securities, down from 55 on Wednesday, with 14 rising, 29 declining and eight left unchanged.
Wigton Windfarm ended with 2.53 million units for 2.9 percent market share, Pulse Investments traded 1.89 million units for 2.2 percent market share and Transjamaican Highway 1.19 million units for 1.4 percent of the volume.
NCB Financial fell $1.02 in closing at $125.98, with 3,926,391 shares changing hands, Palace Amusement climbed $5 to $1050 after trading 97 units, Radio Jamaica lost 35 cents to end at $2.90 in an exchange of 325,031 stock units. Sagicor Group rallied $3 to end at $56 closed trading 54,009 units, Sagicor Real Estate Fund shed 49 cents to close at $8, with 6,743 stocks crossing the market, Scotia Group dropped 28 cents to $37.61 trading 104,335 shares. Sygnus Credit Investments popped 25 cents to $14.90 with an exchange of 1,043,947 stock units and Sygnus Real Estate Finance shed 59 cents to close at $15.41 after exchanging 2,765 shares.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.6. The PE ratio of each stock shown in the chart below is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
At the close, AMG Packaging climbed 5 cents to $2.20 in an exchange of 20,466 shares, Blue Power advanced 34 cents to end at $3.60 after exchanging 66,262 stock units, Cargo Handlers popped $1.74 in closing at $7.35 with an exchange of 9,200 stocks. Caribbean Cream gained 69 cents to close at $5.70, with 1,000 units crossing the market, Derrimon Trading declined 11 cents to $2.21 with an exchange of 400,494 stock units, Dolphin Cove rallied 40 cents to close at $15.40 trading 71,722 units. Future Energy Source lost 7 cents to end at $2.83, with 204,063 stocks changing hands, General Accident popped 10 cents to $6.10 while exchanging 1,305 shares, Honey Bun dropped 90 cents in closing at $8.60after trading 55,734 units. Iron Rock Insurance shed 85 cents in ending at $3.10 after 87 shares crossed the market, Limners and Bards popped 5 cents to close at $3.80, with 46,676 stock units clearing the market, Lumber Depot rose 7 cents in closing at $2.98 in exchanging 545,351 stocks.
Mailpac Group rallied 5 cents to $3.50 after exchanging 232,032 shares, Stationery and Office Supplies rose 89 cents to $6.39 in switching ownership of 4,237 stocks and tTech popped 73 cents to $4.78 in trading 9,956 stock units.
Five securities, traded against six on Tuesday, with none rising, three declining and two ending unchanged.
At the close, First Rock Capital USD share dipped 0.46 of a cent to close at 6.5 US cents in an exchange of 1000,000 shares, Productivity Solutions traded one stock unit at $1.10 after losing 23 cents, Proven Investments slipped 0.01 of a cent to end at 22.99 US cents after trading 14,208,137 units, Sygnus Credit Investments USD share ended at 12.9 US cents, with 10,006 stocks crossing the market and Transjamaican Highway finished trading at 0.84 of one US cent, with 146,017 shares changing hands.
The index hit a record high on November 16, this year bettering the previous record of 2,032.53 points reached on January 3, 2014. Since then the market hit record highs on each of the seven trading days from December 21. The rally was driven by 10 stocks with 
First Citizens Group gained 76 cents to end at $59.26 after trading 216 stocks, FirstCaribbean International Bank rallied 2 cents in closing at $6.15 after 13 stock units changed hands, GraceKennedy popped 13 cents to end at $6.18 in exchanging 63 shares. JMMB Group rose 6 cents to $2.30 with an exchange of 26,788 units, Massy Holdings climbed $3.98 ending at a 52 weeks’ high of $109.98 in exchanging 150 stocks, National Enterprises rose 1 cent in closing at $3.31, with 100 stocks crossing the market. National Flour Mills popped 5 cents to close at $1.95 in trading 6,530 units, NCB Financial Group ended unchanged at $8 in an exchange of 12,339 shares, One Caribbean Media fell 34 cents to $4.35 after exchanging 68,732 stock units. Prestige Holdings remained at $7 with an exchange of 4,996 stocks, Republic Financial Holdings finished at $140.02, with 27,048 stock units changing hands, Scotiabank gained 50 cents to end at $68.50 with the swapping of 71 units. Trinidad & Tobago NGL remained at $21 after 90,454 shares changed hands, Trinidad Cement lost 8 cents to close at $3.68 in switching ownership of 42,500 units, Unilever Caribbean ended at $16.20 after trading 29 stocks and West Indian Tobacco rallied 6 cents to $28.50 with 1,426 shares clearing the market.
