Newly listed Future Energy Source (Fesco) dominated trading on the Junior Market for the second trading day with just under 87 percent of the volume, with the price rising to $1.16 in early trading before pulling back, later on, to end at a record close of $1.09.
Traders exchanged 23,395,893 shares for $32,100,797 compared to 26,069,242 units at $47,035,182 on Friday.
Fesco led trading with 86.8 percent of total volume, with 20.30 million shares followed by Jamaican Teas 4 percent of the day’s trade with 934,196 units, while Fontana trading of 390,567 shares secured 1.7 percent of the overall volume.
Trading ended with 38 securities changing hands compared to 34 on Friday and concluded with the prices of 15 stocks rising, 14 declining and nine remaining unchanged.
The Junior Market Index climbed 23.96 points to settle at 3,174.51 after breaking through the 3,200 mark at the opening of the market and peaking at 3,203,03 after 9 minutes into trading. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings averaged 12.8.
Trading averaged 615,681 units at $844,758 in contrast to 766,742 at $1,383,388 on Friday. Trading month to date, averages 253,496 units at $690,037, compared to 227,626 units at $678,986 on Friday. March closed with an average of 252,633 units at $733,196.
Investor’s Choice bid-offer indicator reading shows two stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, AMG Packaging slipped 7 cents to $1.72 trading 35,100 shares, Blue Power fell 7 cents to $3.73 with a transfer of 15,653 units, CAC 2000 rose 50 cents to $10 trading 9 stocks. Caribbean Assurance Brokers fell 16 cents to $1.94, with an exchange of 89,429 stock units, Caribbean Cream lost 10 cents to close at $6.19 with 4,064 shares changing hands, Caribbean Flavours fell 9 cents to $2.21 with 92,235 units traded. Caribbean Producers declined 5 cents to end at $3.85 with a transfer of 5,051 stocks, Elite Diagnostic gained 10 cents to settle at $3.10 with 2,000 stock units passing through the market, Fontana advanced 24 cents to $5.99 with an exchange of 390,567 shares.
Fosrich dropped 50 cents to $6 with 36,236 units changing hands, Indies Pharma rose 6 cents to $4.25 with 72,206 stocks traded, Iron Rock Insurance dropped $1.05 to $2.95 with a transfer of 1,850 stock units. Jamaican Teas lost 9 cents to end at $3.51 with 934,196 shares passing through the market, Jetcon Corporation gained 5 cents to close at 83 cents with an exchange of 11,700 units, Mailpac Group rose 12 cents to $3.54 with 88,702 stock units changing hands. Main Event jumped 65 cents to $4.70 with 13,526 shares traded, Medical Disposables rose 9 cents to $4.19 with a transfer of 68,372 stock units, Paramount Trading increased by 11 cents to $1.41 with investors switching ownership of 40,000 units and tTech advanced 19 cents to $4.60 with 568 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The top three stocks in the Junior Market are headed by Elite Diagnostic, followed by Medical Disposables and Jetcon Corporation, with the potential to gain between 285 to 300 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by PanJam Investment and VM Investments, with expected gains of 174 to 388 percent.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Main Market TOP 10 trades at a PE of 7.5 or 47 percent of the PE of that market and well off the potential of 20.
The market index ended with a gain of 13.99 points at 3,150.55, with an increase of 19 2 percent year to date. Trading ended with 34 securities changing hands compared to 35 on Thursday and closed with the prices of 12 stocks rising, 14 declining and eight closing unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 12.9.
Future Energy Source advanced 26 cents to end at a record $1.06 with 19,680,813 stocks crossing the market, Indies Pharma picked up 7 cents to close at $4.19 trading 89,595 shares. Iron Rock Insurance rose 20 cents to $4 with 5,263 shares crossing the market, Jamaican Teas gained 10 cents to close at $3.60 in the swapping of 577,253 shares, Jetcon Corporation ended 6 cents lower at 78 cents after 4,000 stock units cleared the market, Lasco Manufacturing rose 75 cents in closing at a 52 weeks’ closing high of $5.45 with a transfer of 49,020 stocks. Lumber Depot carved out a gain of 2 cents to close at $2.49 after trading 505,232 units, Mailpac Group declined 8 cents to close at $3.42 with 305,323 stock units changing hands and Main Event dropped 40 cents to end at $4.05 after trading 36,163 stocks.
After taking a battering in March last year with the market index dropping 39 percent from the end of 2019 to the bottom in March last year, junior Market stocks have put in a spirited recovery with the marketing adding 23.63 points to 3,136.56 on Thursday with a rise of 18.7 percent for 2021 to date and 54 percent from the March 2020 low point for the year for the Junior Market of the Jamaica Stock Exchange.
The market closed with an exchange of 4,442,267 shares for $18,272,766, up from 4,400,394 units at $13,254,158 on Wednesday. Lasco Manufacturing led trading with 51.8 percent of total volume trading 2.3 million shares followed by Mailpac Group with 10.8 percent for 478,805 units and Derrimon Trading with 9.2 percent market share for 406,825 units for 9.2 percent.
Indies Pharma shed 13 cents to end at $4.12 after trading 84,271 units, Jetcon Corporation picked up 6 cents in closing at 84 cents with 5,120 stock units crossing the exchange, Knutsford Express fell 10 cents to close at $8.90 finishing with 1,210 stocks changing hands. Lasco Distributors shed 15 cents to end at $3.84 in switching ownership of 28,431 units, Lasco Manufacturing gained 5 cents to end at $4.70 with the swapping of 2,302,500 shares after it traded at a 52 weeks’ intraday high of $5. Mailpac Group lost 6 cents in closing at $3.50 in the trading of 478,805 stocks, Main Event shed 35 cents to end at $4.45 after clearing the market with 4,910 stock units, Medical Disposables closed 40 cents lower at $4.10 with 35,096 shares crossing the exchange, at the same time Stationery and Office Supplies lost 7 cents to end at $5.50 in the trading of 11,676 stock units.
Trading ended with 36 securities changing hands compared to 37 on Tuesday and closed with the prices of 16 stocks rising, 15 declining and five remaining unchanged. The PE Ratio, based on ICInsider.com forecast of 2021-22 earnings averages 13.
Investor’s Choice bid-offer indicator reading shows three stocks ending with bids higher than their last selling prices and one with lower offers.
Lasco Manufacturing picked up 6 cents to finish at $4.65 with 997,854 shares clearing the market, Main Event lost 12 cents to end at $4.80 in switching ownership of 2,128 units, Medical Disposables closed 15 cents lower at $4.50 with an exchange of 265 shares, Paramount Trading shed 8 cents ending at $1.33 after an exchange of 500 stocks. At the same time, Stationery and Office Supplies rose $1.03 in closing at $5.57, with investors switching ownership of 38,970 stock units.
Trading averaged 262,826 units at $1,007,522 and on Monday 66,662 at $226,935. The month to date averaged 201,838 units at $661,964, compared to 196,052 units at $629,180 on Monday. March closed with an average of 252,633 units at $733,196.
Knutsford Express jumped $1.40 to $8.30 with an exchange of 92 units, Lasco Distributors lost 24 cents to end at $3.75 with 34,324 shares changing hands. Main Event climbed 22 cents to close at $4.92 with 250 stocks traded, Medical Disposables advanced 15 cents to $4.65 with 12,010 units transferred, Paramount Trading gained 11 cents to settle at $1.41 with investors switching ownership of 41,276 stocks. Stationery and Office Supplies dropped 26 cents to $4.54 with 136,528 units changing hands and tTech fell 19 cents to close at $4.41 with 500 shares crossing the exchange.
Volume and value of trades dropped 84 percent and 83 percent, respectively with more stocks rising than falling versus Friday, on the Junior Market of the Jamaica Stock Exchange.
Trading averaged 66,662 units at $226,935 in contrast to 468,107 at $1,520,701 on Friday. The average month to date is 196,052 units at $629,180, compared to 210,840 units at $675,151 on Friday. March closed with an average of 252,633 units at $733,196.
Honey Bun picked up 5 cents to finish at $5.09 with the trading of 55,600 shares, Indies Pharma closed 12 cents higher at $4.36 with an exchange of 71,313 units, Jamaican Teas gained 9 cents to end at $3.38 trading 541,001 units, Knutsford Express advanced 55 cents to $6.90 after a transfer of 43,806 shares Mailpac Group gained 9 cents in closing at $3.54 with 555,210 stock units changing hands and Medical Disposables rose 35 cents to $4.50 with the swapping of 5,560 units.
Increased buying came into the market for
The main market continues to trade in a narrow channel and now shows signs that a break out is imminent. First quarter results start coming in the latter part of this month and will determine the short-term move. In this regard, watch Barita Investments, Caribbean Cement, Grace Kennedy, Jamaica Producers, NCB Financial, PanJam Investment and Sagior Group.
The results show a marked improvement over November when revenues fell from $283 million to $149 million with a loss of $34 million. The results for the latest quarter supports ICInsider.com’s forecast for the company to return to profit for the 2022 fiscal year.
The JSE Main Market ended the week with an overall PE of 15.4, some distance from the 19 the market ended March at. The Main Market TOP 10 trades at a PE of 7.3 or 48 percent of the PE of that market and well off the potential of 20.
Overall, 36 securities changed hands compared to 37 on Thursday, ending with the prices of 11 stocks rising, 15 declining and 10 trading unchanged as Consolidated Bakeries traded at a 52 weeks’ high of $1.80 and at a closing high of $1.75 and Fosrich closed at a 52 weeks’ high of $6.
The day’s average trade is 468,107 units at $1,520,701, compared to 122,950 units at $353,242 on Thursday. The average month to date is 210,840 units at $675,151, compared to 181,344 units at $578,209 on Thursday. March closed with an average of 252,633 units at $733,196. Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and none with lower offers.
Indies Pharma lost 6 cents to settle at $4.24 with investors switching ownership of 34,215 units, Lasco Distributors advanced 24 cents to $3.99, with 270 stocks traded, Lumber Depot rose 6 cents to $2.47 with, 180,752 shares changing hands. Main Event dropped 18 cents to $4.74 in with a transfer of 5,000 units, Paramount Trading slipped 10 cents to $1.32 with investors switching ownership of 15,000 stock units and tTech gained 18 cents to close at $4.59, with 2,092 stocks crossing the exchange.
Overall, 37 securities traded up from 35 on Wednesday and concluded with the prices of 18 stocks rising, 11 falling and eight remaining unchanged.
Trading averaged 122,950 units at $353,242 versus 160,988 at $485,606 on Wednesday. The month to date averaged 181,344 units at $578,209, compared to 189,144 units at $608,258 on Wednesday. March closed with an average of 252,633 units at $733,196 trading.
KLE Group rose 22 cents to $1.40 in trading 11,999 units, Lasco Distributors rose 12 cents to $3.75 with an exchange of 896,501 shares, Lasco Financial climbed 25 cents to $3.10 with 8,613 stock units changing hands. Lasco Manufacturing rose by 9 cents to $4.59 with 47,215 units passing through the market, Limners and Bardsfell 10 cents to $2.80 trading 21,200 stocks, Lumber Depot declined by 8 cents to end at $2.41 with a transfer of 354,836 shares. Mailpac Group advanced 24 cents to $3.49 with investors switching ownership of 151,017 units, Main Event jumped $1.22 to close at $4.92 with 6,637 stocks changing hands, Medical Disposables fell 10 cents to $4.15 with 3,800 stock units traded and tTech lost 19 cents to close at $4.4 with 1,000 shares crossing the exchange.
