There is currently low interest in buying Main Market stocks, even when the companies perform well and deliver positive results. One exception is Transjamaican Highway which has gained 86 percent for the year to date with more gains on the cards.
Dolphin Cove gained 31% for 2023 to date but should go higher.
The action is in the Junior Market, but even there, the interest is glacier-like, with a few stocks moving higher as buying demand is now overwhelming sellers.
A look behind the stock order book shows that a few merit watching over the next few weeks.
The list includes Carreras, Dolphin Cove, Fontana, Lasco Distributers, Lasco Manufacturing, ISP Finance, Mayberry Investments as well as Transjamaican Highway.
Carreras is enjoying consolidation of demand around the $8 level following a jump in earnings in the June quarter from rising sales. However, that is unlikely to change it from primarily one for high dividend yield rather than capital appreciation.
Dolphin Cove’s stock is up 31 percent for the year to date, but profit for the six months to June is up 48 percent over the year to June 2022. Investors may want to note the latest report on the court judgement on the sale of Mystic Mountain. There were indications that Dolphin Cove was an interested buyer and they may well be amongst the preferred bidders. If they succeed, expect the stock with limited offers posted on the JSE platform to jump.
Lasco Distributors‘ trend line shows an upward slopping momentum for the stock supported by earnings that increased 38 percent in the first quarter to June, following a 33 percent rise in full year profits to March this year. Buying interest is solid in the $4 and over region that is overwhelming supply on offer between $4.49 and $5 after that; there are currently less than 70,000 units on offer.
Lasco
Lasco Manufacturing‘s profit for the 2023 fiscal year jumped 37 percent after tax, followed by 27 percent for the June quarter. Still, the market was slow in responding positively to both sets of results, even as the price was less than ten times 2023 earnings of 50 cents per share. The stock in the past week jumped into the $5 region for the for time in months and closed the week at $5.35, with solid buying at that level and just below but with very limited selling with few stocks on offer from just nine offers for 180,000 shares.
Investors may not be ready to pounce on Fontana just yet. Still, there is limited selling in the stock ahead of the release of full year results that could come in around 80 cents per share, but with increased earnings in the current fiscal year, that will benefit from the opening of the Portmore store in a few months.
ISP Finance is an odd candidate, but there has been above average interest in this stock in recent months, with few offers in the stock currently. There are two critical factors to consider. One is that the majority shareholder must be close to retirement as such new owners cannot be far off. The recent addition of two new directors who operate in the financial market and have collaborated closely with them has increased speculation that a takeover of the majority shares will be forthcoming sooner than later. The other factor is the sharp jump in the loan portfolio to almost $1 billion after the credit loss provision. The near $200 million increase in loans over December last year and March this year is expected to swell revenues and profits in the future. The shares have to be high on the list for a split at the current price.
Fontana Waterloo Square Branch just after it was opened in October 2019.
Mayberry Investments may not have a lot of buying currently, but selling seems to be at a low level that could ignite a jump in price at any time that buying interest jumps.
Transjamaican Highway stock has almost doubled this year, encouraged by profit ballooning 338 percent for the June quarter to US$6 million and 442 percent to US$11 million for the six months to June. Supply has diminished on the sell side and could be overwhelmed by buyers. Investors have not bought into the sharp change in fortune for this stock and where it could head to. In addition, they should declare a considerable dividend payment in a few months.
Investors exchanged 145,523 shares for $2,024,645 versus 225,431 stock units at $1,736,371 on Thursday.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and five with lower offers.
Prestige Holdings fell 1 cent to $7.89 after investors ended trading 982 units, Republic Financial declined $1.99 and ended at $125.01, with 5,897 stock units crossing the market. Scotiabank lost 50 cents to end at $74 after exchanging 727 shares, Trinidad & Tobago NGL dropped $1.98 to $15 with investors trading 37,182 units, Unilever Caribbean dipped 1 cent to close at $11.99 after an exchange of 20,300 stocks and West Indian Tobacco advanced 5 cents to $11.30, with 4,272 units crossing the exchange.
Investors exchanged 225,431 shares for $1,736,371 versus 100,900 stock units at $5,220,667 on Wednesday.
In closing, Angostura Holdings gained 23 cents to close at $22.98 as investors exchanged 33 shares, Ansa Merchant Bank popped $1.50 in closing at $44.50 after trading 228 stock units, First Citizens Group ended at $49.77 with investors swapping 3,656 stock units. FirstCaribbean International Bank ended at $7 in trading 40 stocks, GraceKennedy ended at $3.35 with 130,400 shares clearing the market, Guardian Holdings close at $19.50 with stakeholders exchanging 103 stock units. JMMB Group remained at $1.34 in an exchange of 1,046 units, Massy Holdings declined 3 cents to end at $4.70 with 4,955 stocks crossing the market, National Enterprises dipped 1 cent to $3.79 after an exchange of 26,909 shares. National Flour Mills rallied 7 cents in closing at $1.60, with 700 units crossing the exchange, NCB Financial increased 3 cents to $3.40 in switching ownership of 900 stocks, One Caribbean Media dipped 5 cents in closing at $3.65 with a transfer of 4,948 stock units. 
Prestige Holdings ended at $7.90 in an exchange of 620 shares, Republic Financial advanced $1.99 to close at $127 with investors trading 830 stocks, Scotiabank ended at $74.50 with an exchange of 4,373 units. Trinidad & Tobago NGL rose $1.98 to $16.98 after a transfer of 3,009 stock units, Trinidad Cement popped 20 cents to end at $3.30 after 4,500 units changed hands, Unilever Caribbean rallied 1 cent to $12, with 38,159 shares crossing the market and West Indian Tobacco dipped 5 cents and ended at $11.25 while exchanging 22 stocks.
Investors exchanged 100,900 shares at $5,220,667 versus 86,482 stocks at $3,946,282 on Tuesday.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
Prestige Holdings remained at $7.90 with a transfer of 1,374 stocks, Republic Financial rose 1 cent to end at $125.01 with investors exchanging 36,297 shares, Scotiabank ended at $74.50 while exchanging 2,259 units, Trinidad & Tobago NGL fell 80 cents in closing at $15, with 8,625 stock units clearing the market. Trinidad Cement shed 30 cents to close at $3.10 after 1,710 stocks passed through the market, Unilever Caribbean popped 1 cent to end at $11.99 after an exchange of 103 stocks and West Indian Tobacco popped 5 cents and ended at $11.30 in trading 1,130 shares.
Investors traded 86,482 shares for $3,946,282 compared with 596,852 stock units at $3,505,132 on Monday.
At the close, Agostini’s ended at $68 with an exchange of 72 shares, First Citizens Group ended at $49.77 after 9,769 stock units were exchanged, FirstCaribbean International Bank lost 3 cents to end at $7 with 853 stocks being traded. GraceKennedy ended at $3.39 with investors swapping 17,404 units, Guardian Holdings advanced 11 cents and ended at $19.51 with investors trading 10,465 stock units, Guardian Media declined 5 cents and ended at $2.15 with 805 shares clearing the market. Massy Holdings dipped 1 cent to close at $4.79 with traders swapping 7,457 stocks, National Enterprises remained at $3.79 after 7 units passed through the market, NCB Financial shed 3 cents to end at $3.37 while exchanging 2,347 shares. One Caribbean Media dropped 5 cents to $3.70 in trading 30 stock units, Point Lisas fell 5 cents to end at $3.65 with a transfer of 8 units, Prestige Holdings rallied 16 cents to $7.90 after investors traded 622 stocks. 
Republic Financial declined $1 to close at a 52 weeks’ low of $125 as investors traded 22,829 units, Scotiabank slipped 10 cents in closing at $74.50 in switching ownership of 1,230 stocks, Trinidad & Tobago NGL dropped $1.18 and ended at $15.80 after a transfer of 6,954 stock units, Unilever Caribbean gained 28 cents to close at $11.98 in an exchange of 2,750 shares and West Indian Tobacco ended at $11.25 and closed after 2,880 units changed hands.
Investors exchanged 596,852 shares for $3,505,132 versus 282,398 stock units at $2,341,839 on Friday.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and five with lower offers.
National Enterprises ended with an exchange of 786 stocks at $3.79. National Flour Mills ended trading in 25 stock units at $1.53, Republic Financial dropped $1 to close at a 52 weeks’ low of $126, with 9,559 stocks crossing the market. Scotiabank dipped 2 cents and ended at $74.60 with a transfer of 500 shares, Trinidad & Tobago NGL fell 1 cent to end at $16.98, with 7,486 stock units crossing the exchange and Unilever Caribbean declined 20 cents to $11.70 after 22,500 stock units passed through the market.
Investors exchanged 282,398 shares for $2,341,839 compared to 525,693 stock units at $5,209,799 on Thursday.
At the close, Agostini’s fell 51 cents to close at $67.99 with a transfer of 215 shares, Angostura Holdings dipped 45 cents to end at $22.75 while exchanging 11 stock units, Ansa McAl declined $2.40 to $55.50 with an exchange of 125 stocks. Ansa Merchant Bank lost $1.50 and ended at $43 with stakeholders exchanging 1,000 units, Calypso Macro Investment Fund ended at $22, with 83 stocks crossing the market, First Citizens Group rose 1 cent to close at $50, with 2,811 units clearing the market. GraceKennedy dropped 1 cent to $3.39, with 403 shares crossing the exchange, Guardian Holdings rallied 40 cents to end at $19.40, with 5,468 stock units changing hands, JMMB Group remained at $1.32, with 25,000 stock units crossing the market. L.J. Williams B share increased 29 cents in closing at $2.59 after an exchange of 500 shares, 
Massy Holdings shed 1 cent to close at $4.80 in trading 148,487 stocks, National Enterprises climbed 4 cents and ended at $3.79 with investors transferring 24,727 units. NCB Financial declined 10 cents to close at $3.40 after exchanging 4,000 stocks, Republic Financial lost 1 cent in closing at $127 in trading 2,519 units, Scotiabank gained 2 cents to close at $74.62 as investors exchanged 120 stock units. Trinidad & Tobago NGL dropped 70 cents to end at $16.99 after a transfer of 9,346 shares, Unilever Caribbean dipped 10 cents and ended at $11.90 after 54,583 shares passed through the market and West Indian Tobacco fell 11 cents to $11.25 in switching ownership of 3,000 units.
Investors exchanged 525,693 shares for $5,209,799 up from 38,476 units at $689,946 on Wednesday.
At the close, Agostini’s ended at $68.50 after an exchange of 682 shares, Ansa McAl remained at $57.90 with investors swapping one stock, Ansa Merchant Bank fell $2 to $44.50 after 100 units passed through the market, Calypso Macro Investment Fund remained at $22, with stakeholders exchanging 70 stock units. First Citizens Group fell 1 cent to $49.99 in swapping 1,039 units, FirstCaribbean International Bank ended at $7.04 after a transfer of 7,039 shares, GraceKennedy remained at $3.40, with 138,613 stock units crossing the market, Guardian Holdings ended at $19 after investors traded of 174,466 stocks. JMMB Group dipped 2 cents to end at $1.32 in an exchange of 40 stocks, L.J. Williams B share shed 40 cents in closing at $2.30 in an exchange of 5,250 stock units, 
Massy Holdings dipped 4 cents to close at $4.81 with 105,025 shares changing hands, National Enterprises lost 27 cents to close at $3.75, with 86,196 units changing hands. Point Lisas ended at $3.70 with an exchange of 1,600 shares, Republic Financial gained 1 cent to end at $127.01 with 2,786 stocks clearing the market, Scotiabank dipped 2 cents in closing at $74.60 after investors ended trading 500 units, Trinidad & Tobago NGL rallied 4 cents to $17.69 after 401 stock units were traded. Trinidad Cement ended at $3.40 as investors traded 420 stocks and Unilever Caribbean ended at $12 with 1,465 units crossing the exchange.
Investors exchanged a mere 38,476 shares for $689,946, down sharply from 222,022 units at $6,727,988 on Tuesday.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and three with lower offers.
Point Lisas ended at $3.70 in an exchange of 10 units. Prestige Holdings fell 14 cents to close at $7.74 with investors transferring 88 stock units, Republic Financial dipped 15 cents and ended at $127 after a transfer of 1,867 stocks, Scotiabank rose 12 cents to $74.62 as investors exchanged 530 units. Trinidad & Tobago NGL climbed 4 cents in closing at $17.65 with shareholders swapping 225 shares, Trinidad Cement popped 40 cents and ended at $3.40 in switching ownership of 1,016 units and Unilever Caribbean ended at $12, with 2,000 shares changing hands.
Lasco released first quarter results, in late July, with a rise in pretax profit jumping a robust 57 percent to $602 million and post-tax climbing a solid 38 percent to $448 million from a 17 percent rise in revenues to $7.3 billion from $6.3 billion.
