50% less trades on TTSE – Monday

The Trinidad and Tobago Stock Exchange ended trading on Monday, with the market declining after investors traded 50 percent fewer shares than were traded on Friday, resulting in more stocks falling than rising.
The market closed with twelve securities trading with two advancing, five declining and five remained unchanged.  Trading accounted for 117,290 shares valued at $3,215,698 compared to 232,343 stocks for $5,720,884 from 13 securities on Friday.
The average trade on Monday amounted to 9,774 units at $267,975, versus an average of 17,873 stock units for $440,068, for each security. July closed with an average of 12,712 shares for $166,390.
The T&T Composite Index lost 0.98 points to 1,314.46, the All T&T Index shed 1.95 points to 1,775.97, while the Cross Listed Index was unchanged at 115.25.
IC bid-offer Indicator The Investors Choice bid-offer indicator ended with the bids of four stocks higher than its last selling price and one with a lower offer.
Stocks rising Point Lisas gained 10 cents to close at $3.10, with an exchange of 15,000 stock units and Scotiabank finished 15 cents higher at $54.90, after 392 units crossed the market.
Stocks declining First Citizens Bank lost 15 cents to end at $48.35, in transferring 500 units, Massy Holdings closed at $57, with a loss of 98 cents trading 32,978 shares, Republic Financial Holdings dropped $3.50 to close at $136, in exchange for 130 units. Trinidad Cement shed 10 cents to settle at $2, with 500 units changing hands and Unilever Caribbean closed 5 cents lower at $16.90 after trading 738 units.
Stocks trading firmAngostura Holdings exchanged 1,474 units at $15.30, Ansa Merchant Bank traded 266 units at $36.30, Clico Investments closed with 42,152 shares changing hands at $26. Guardian Holdings closed at $19, with an exchange of 806 units and Grace Kennedy remained at $3.50, after trading 22,354 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Bullish trading in Jamaican stocks

The Jamaica Stock Exchange Main Market ended trading on Monday with the market rising in a bullish session at the start of August after more stocks rose than fell after investors exchanged 39 percent fewer shares with 70 percent higher value than they did on Friday.
At the close, the All Jamaican Composite Index climbed 6,403.61 points to settle at 412,297.65. The Main Index gained 5,796.89 points to end at 376,218.86 and the JSE Financial Index advanced by 2.39 points to settle at 98.36. The price of Scotia Group jumped sharply, by $5.21 and was a major contributor to the significant rise in the market indices.
Trading ended with 45 securities changing hands with the prices of 23 stocks rising, the prices of 15 declining and seven remaining unchanged and the average PE Ratio of the market ended at 15.5 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 8,211,306 shares for $88,195,049 compared to 13,543,115 units at $51,906,344 on Friday.
Wigton Windfarm led trading with 2.52 million shares for 30.7 percent of total volume, followed by Transjamaican Highway with 1.37 million units for 16.7 percent of the day’s trade and Supreme Ventures with 1.13 million units for 13.8 percent market share.
An average of 182,473 units traded on Monday at $1,959,890, in comparison to an average of 338,578 shares at $1,297,659 on Friday. Trading compares adversely to, July that ended with an average of 392,128 shares at $2,444,356.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows six stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments rose $2.40 and closed at $56.40 after exchanging 644 stock units, Caribbean Cement dropped $4.25 in ending at $43.75 after trading 7,168 stocks, Eppley advanced $2.54 in closing at $17.44, with 1,141 units changing hands. First Rock Capital climbed 74 cents $13.75 with investors switching ownership of 19,689 shares, Jamaica Broilers Group rose $1.99 to settle at $27.49, in exchanging 40,355 units, Jamaica Producers fell $1.70 to close at $22, with investors trading 4,312 stock units. Key Insurance gained 84 cents to finish at $8.99, with investors exchanging of 44,663 units, Kingston Properties gained 92 cents to end at $7.03, trading 400 shares, Kingston Wharves declined by 30 cents in ending at $50.70 after exchanging 90 stock units. Mayberry Jamaican Equities increased 60 cents to close at $9.35, with 14,901 shares changing hands, NCB Financial Group carved out an increase of $1.48 to close at $139.98 and finishing with 9,557 units crossing the exchange. Palace Amusement jumped $232.50 to close at $1,782.50 in an exchange of just four units, Proven Investments declined by 45 cents in ending at $34.30 in an exchange of 832 units, Sagicor Group rose $1.01 to settle at $44, with 3,938 stock units trading. Salada Foods rose $1 to settle at $29 with investors swapping just one stock, Scotia Group climbed sharply by $5.21 to close at $51.70 with investors trading 518,331 shares, Stanley Motta rose by 43 cents to close at $5.13 in trading 10,010 stock units. Supreme Ventures gained 49 cents in ending at $15.49 after 1,129,584 shares crossed the exchange, Sygnus Credit Investments rose 93 cents to end at $16.80 trading 1,500 shares and Victoria Mutual Investments carved out a loss 53 cents to close at $6.50 while exchanging 126,311 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Lasco out Medi Disposables back in IC TOP 10

Lasco Distributors rose from $2.85 to close at $3.25 after the company posted a 57 percent rise in first-quarter profit and Medical Disposables returns with the stock finding support just under $5 this past week after posting disappointing full-year results at the end of the prior week.
There was no change in the Main Market TOP 10 list for the week that saw the Main Market remaining relatively stable for the past week, while the Junior Market rose 35 points for the week on top of gains in the previous week.
Although Lasco Distributors is out of the TOP 10, investors should expect to see more gains, with the EPS of 38 cents for this fiscal year, as the stock trades at 8.7 times earnings compared with 11.2 for the Junior Market. Caribbean Cream reported good first-quarter results, suggesting a significant increase in full-year profits. The stock closed the week at $4, up from $3.65, and is poised for more gains in the weeks to come. There are limited offers to sell the stock while buying interest has picked up.
The top three stocks in each market saw little change in the rankings, leaving the top three Junior Market stocks, with the potential to gain between 239 to 695 percent by March 2021. The first is Caribbean Producers, followed by Lasco Financial and Stationery and Office Supplies.
The top three stocks in the Main Market, with expected gains of 182 to 233 percent, are Berger Paints followed by Radio Jamaica and JMMB Group.

Grace Kennedy new headquarters in downtown Kingston

This week’s focus: Grace Kennedy posted revenues of $56.5 billion, up 10 percent over the corresponding period of the prior year. Profit before tax was $4.5 billion, reflecting a 53 percent improvement over the same period in 2019. Net Profit after tax increased 36.5 percent to $2.75 billion after minority interest, with earnings per stock unit for the period of $2.77. The result to date is outstanding, projected earnings for 2021 is over $11 per share, putting the stock in the category of one of the best buys in the Main Market currently. IC Insider.com has upped its forecast for 2020 per share to $7.25, with a PE ratio of 8 at the closing stock price of $57.
QWI Investments just released its June quarter results, with a loss of $461 million for the year to date and a profit of $115 million in the latest quarter. The company’s portfolio comprises a mix of stocks mainly in Jamaica and the USA, with a smattering in Trinidad. At the end of July, the net asset value (NAV) continued to increase and ended the month at $1.06, up 11.5 percent from 95 cents at the end of March this year. The performance beats the JSE Main Market index that is down 2.5 percent over the same period and the JSE Combined Index down one percent for the same period. The NAV growth that reflects changes to the investment value plus dividend income after expenses is just behind the JSE Junior Market index that is up 12.4 percent over the same period. The stock price closed at 73 cents on the local market on Friday, at a steep discount of 41 percent to the net asset value.
Access Financial reported a first-quarter profit after tax to June of $33 million, compared to $165 million for the similar period in 2019 after additional provision for loan losses amounting to $67 million and loan write-off of $38 million. Income slipped as loans contracted, but the cost in some areas fell. The company is sound and is poised to return to higher levels of profit, and could even reverse some of the loan loss provisions going forward.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level an indication of the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 14.9 and the Junior Market at just 11.2, based on IC Insider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising and narrowing the gap, with the Main Market as investors see better profit opportunities in this sector. The PE ratio for the Junior Market Top 10 stocks averages a mere 6.3 at just 56 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.1 or 55 percent of the PE of the overall market.
The average projected gain for the IC TOP 10 stocks is 261 percent, for the Junior Market and 153 percent for the JSE Main Market, based on 2020-21 earnings, an indication that there is the potential to make greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. 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.

JSE Main Market jumps to close July

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The Jamaica Stock Exchange Main Market ended trading on Friday, with the market closing higher after the number of stocks gaining, more than tripled those declining, as investors exchanged 15 percent more stock units than on Thursday.
At the close, the All Jamaican Composite Index carved out a gain of 4,915.75 points to settle at 405,893.04; the Main Index gained 4,474.49 points to end at 370,421.97, the JSE Financial Index advanced by 1.37 points to settle at 95.97.
Trading ended with 40 securities changing hands with the prices of 24 stocks rising, the prices of nine declining and seven remaining unchanged and the average PE Ratio of the market ended at 15.2 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 13,543,115 shares for $51,906,344 compared to 11,753,324 units at $69,988,700 on Thursday.
Transjamaican Highway led trading with 10.67 million shares for 79 percent of total volume, followed by Wigton Windfarm with 876,134 units for 6.5 percent of the day’s trade and QWI Investments with 509,652 units for 3.8 percent market share.
An average of 338,578 units traded for the day at $1,297,659 for each security, in comparison to an average of 293,833 shares at $1,749,718 on Thursday. An average of 374,929 units traded for the month to date at $2,445,605 for each security that traded, in contrast to 376,532 units at $2,496,231. Trading month to date compares adversely to June that ended with an average of 818,748 units at $7,498,308.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 13 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, Caribbean Cement advanced $2.07 to settle at $48 while exchanging 105,977 stock units, but the stock ended with the offer of 1,986 shares at $45.90. Eppley Caribbean Property Fund gained 70 cents in closing at $47, with investors switching ownership of 28,926 stocks. Jamaica Broilers Group climbed $2.50 to end at $25.50 with investors swapping 264,548 shares, Jamaica Producers Group added $1.20 to close at $23.70 with the trading of 6,933 stocks, Jamaica Stock Exchange rose by $1.49 to $23.49, with 43,796 stock units crossing the exchange. JMMB Group climbed 80 cents in ending at $31.80, with an exchange of 197,295 stocks, Kingston Wharves fell $2, to $51, with an exchange of 60 stock units, Mayberry Jamaican Equities rallied 70 cents to end at $8.75 in a transfer of 25,566 shares. NCB Financial increased $2.50 to close at $138.50, with 12,621 stocks crossing the market, 138 Student Living carved out a loss 84 cents to settle at $6.04 with an exchange of 3,397 shares. PanJam Investment dropped 94 cents to end at $66.06, in finishing trading of 553 stock units, Sagicor Group rose 99 cents to end at $42.99 in exchanging 9,421 shares, Scotia Group increased $3.49 to $46.49 trading 55,656 units, Supreme Ventures gained 50 cents in ending at $15, with investors switching ownership of 24,033 units and Sygnus Credit Investments declined by 50 cents to close at $15.87 in an exchange of 13,780 shares.
In the preference shares segment of the market, Productive Business Solutions 9.75% advanced by $3 to close at $107, with 10,899 shares passing through the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

TTSE trading picks on Thursday

Trading picked-up on the Trinidad and Tobago Stock Exchange on Thursday as 69,776 shares changed hands at $1,561,748, compared to mere 350,805 shares, accounting for $6,029,917 on Wednesday.
The market closed, with 15 securities changing hand, five more than on Wednesday, and resulting in the prices of five stocks rising, one declining and nine remaining unchanged.
At the close of the market, the Composite Index added 0.64 points to settle at 1,317.76, the All T&T Index rose 0.95 points to close at 1,782.52 and the Cross Listed Index inched 0.04 point to close at 115.25.
The market closed, with an average of 4,652 units traded for the day at $104,117, in contrast to an average of 43,851 at $753,740 on Wednesday. An average of 12,503 units traded at $155,307 for the month to date versus 12,888 units at $157,816.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the Trinidad and Tobago market shows one stock ended with the bid higher than their last selling prices and none with lower offers.
Stocks gaining| Angostura Holdings added 5 cents to close at $15.30 with 653 shares changing hands, First Caribbean International Bank inched 1 cent higher to close at $7.10 with 1,365 units crossing the market. National flour rose 5 cents to close at $1.85 with investors swapping 5,545 stock units, Scotiabank traded 110 shares and gained 3 cents to close at $54.78 and Unilever Caribbean gained 5 cents to close at $16.95 trading 300 units.
Stock declining| Trinidad & Tobago NGL lost 23 cents and ended at $17.02 in exchanging 1,457 shares.
Stocks Trading Firm| Calypso Macro Investment Fund closed at $14 with investors exchanging 100 stock units. Clico Investment Fund ended at $25.50 after an exchange of 39,800 stocks, First Citizens Bank settle at $48.80 trading 4,439 shares and Guardian Holdings closed at $19.70 in trading 1,650 units. Grace Kennedy traded 10,000 shares at $3.50, JMMB Group traded 870 shares to end at $1.95, Massy Holdings settled at $58, after 2,962 units changed hands, Republic Holdings traded 56 shares at $139.50, while West Indian Tobacco closed at $35 trading 469 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

 

JSE Main Market rises

The Jamaica Stock Exchange Main Market recovered some of Tuesday’s losses but the gains were not nearly enough to wipe out Tuesday fall as 42 securities changed hands with the prices of 24 stocks rising, 15 declining and three remaining unchanged.
At the close, the All Jamaican Composite Index gained 1,220.61 points to settle at 403,259.52. The JSE Main Index rose 1,024.69 points to settle at 367,932.73 and The JSE Financial Index gained 0.21 points to end at 95.24.
Trading ended with and the average PE Ratio of the market ended at 14.9 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 20,416,869 shares for $130,092,416 compared to 11,625,612 units at $49,526,202 from the trading of 41 securities on Tuesday.
Transjamaican Highway led trading with 11.76 million shares for 57.6 percent of total volume, followed by Wigton Windfarm with 5.17 million units for 25.3 percent of the day’s trade and PanJan Investment with 396,216 units for two percent market share.
An average of 486,116 units traded on Wednesday at $3,097,438 for each security in comparison to an average of 283,539 at $1,207,164 on Tuesday. An average of 380,348 units traded for the month to date at $2,530,672 for each security that traded, in contrast to 374,963 units at $2,501,819. In contrast, June ended with an average of 818,748 units at $7,498,308.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, Barita Investments lost $4.51 to end at $53.43 with an exchange of 4,361 units, Caribbean Cement rose $1.73 to close at $45.73 with an exchange of 5,370 stock units, Eppley Caribbean Property Fund dropped $6.10, to $40 with investors switching ownership of 6,134 shares. First Rock Capital dipped by 45 cents to settle at $13 while exchanging 14,345 shares. Jamaica Broilers Group gained $1, in ending at $25, with 5,422 shares passing through the market, Jamaica Producers Group rose 80 cents to $23.30 while exchanging 46,734 units, Jamaica Stock Exchange increased 50 cents to settle at $22, with 56,148 stock units changing hands. JMMB Group carved out a gain of 40 cents in ending at $31.80 after 18,979 stock units passed through the market. Key Insurance climbed 75 cents to close at $7.75 in trading 104,137 units, Kingston Wharves increased by $3.99 to settle at $53 with investors switching ownership of 100 shares. NCB Financial Group declined by $1 to end at $137 in clearing the market with 274,124 stock units, Palace Amusement advanced by $6.50 to end at $1,789 in an exchange of one share, PanJam Investment increased $3.99 to settle at $68.98, after 396,216 stock units changed hands. Proven Investments rose $1.49 to end at $34 after exchanging 16 shares, Sagicor Group gained 97 cents to settle at $42.97 in trading 330,558 shares, Scotia Group advanced $2.50 to $45.50 in trading 321,309 units and Sterling Investments climbed 50 cents and ended at $3.25 in an exchange of 1,598 units.
In the preference segment, Eppley 8.25% advanced by 89 cents to settle at $6.81 with investors swapping 450 shares and 138 Student Living Preference share, fell 40 cents to close at $5.20 in trading just five units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Prices tumble on JSE Main Market

Declining stocks dominated trading on the JSE Main Market on Tuesday, sending the major indices sharply lower at the close, with 24 stocks declining and only eight stocks rising and closing with nine unchanged.Trading ended with 41 securities changing hands, two less than on Monday and the average PE Ratio of the market ended at 15 based on IC Insider.com’s forecast of 2020-21 earnings.
At the close of the market, the All Jamaican Composite Index declined by 4202.97 points to settle at 402,038.91, JSE Market Index dropped by 3,833.69 points to settle at 366,908.04 and the JSE Financial Index lost 0.88 points to end at 95.03.
The market closed with an exchange of 11,625,612 shares for  $49,526,202 compared to 14,627,962 units at $56,812,175 on Monday. Wigton Windfarm led trading with 4.2 million shares for 36 percent of total volume, followed by TransJamaican Highway with 2.6 million units for 22.4 percent of the day’s trade and Sagicor Select Financial Fund with 2.27 million units for 19.6 percent market share.
An average of 283,552 units traded on Tuesday at $1,207,956 for each security in comparison to an average of 340,185 at $1,321,213 on Monday. An average of 374,764 units traded for the month to date at $2,500,318 for each security that traded, in contrast to 379,528 units at $2,567,817. In comparison,  June ended with an average of 818,748 units at $7,498,308.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, Barita Investments rose 94 cents to finish at $57.94 with 1,898 stock units traded, Caribbean Cement declined by $1.72 to $44, exchanging 58,372 units, Eppley shed $2.10 to settle at $14.90 with 100 shares changing hands. First Rock Capital climbed 45 cents to close at $13.45 after trading 18,200 stock units, Jamaica Broilers Group declined by $1 to settle at $24 with investors transferring 82,916 units, Jamaica Producers Group dropped 90 cents and ending at $22.50 with 10,922 shares. Jamaica Stock Exchange carved out a loss of 45 cents to settle at $21.50 with an exchange of 64,430 stock units changing hands,  JMMB Group gained 40 cents to end at $31.40 with 60,637 shares traded,  Key Insurance advanced $1 to close at $7, with investors transferring 43,499 units. Kingston Wharves shed $2.49 to finish at $49.01 with 2,285 shares changing hands,  Mayberry Investments fell 75 cents to settle at $5.75, with an exchange of just 100 stock units,  Mayberry Jamaican Equities dropped $1.19 to finish at $8.75 in a transfer of 49,886 units.  NCB Financial declined by $1.94 to close at $138 trading 43,164 shares,  PanJam Investment fell $1.06 to end at $64.99 with an exchange of 12,874 stock units, Proven dropped 99 cents, to finish at $32.51, with 3,100 stock units changing hands.  Sagicor Group lost $1.74 to end at $42 while exchanging 13,987 units,  Scotia Group declined $1.20 to finish at $43 with investors swapping 40,961 units,  Sterling Investments fell 45 cents in ending at $2.75 with 23,215 stock units passing through the market and  Supreme Ventures dipped 60 cents to close at $14.50 with 290,089 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main Market inches higher

Trading ended with 43 securities changing hands Jamaica Stock Exchange Main Market, down slightly from 45 on Friday, with trading levels remaining extremely low, with an exchange of 14,627,962 shares for $56,812,175 compared to 7,203,254 units at $47,857,862 on Friday.
At the close, the prices of 16 stocks rising, the 17 stocks declining and ten remaining unchanged, with the average PE Ratio of the market, ending at 15.3 based on IC Insider.com’s forecast of 2020-21 earnings. In the end, the All Jamaican Composite Index just carved out a gain of 234.59 points to 406,241.88, the Main Index squeezed out a rise of 434.91 points to at 370,741.73, while the JSE Financial Index slipped 0.20 points to 95.91.
The market closed, with Transjamaican Highway leading trading with 9.83 million shares for 67 percent of total volume, followed by Wigton Windfarm with 2.45 million units for 16.8 percent of the day’s trade and Sagicor Select Financial Fund with 565,157 units for 4 percent market share.
An average of 340,185 units traded on Monday at $1,321,213 for each security, in comparison to an average of 160,072 at $1,063,508 on Friday. An average of 379,528 units traded for the month to date at $2,567,817 for each security that traded, in contrast to 381,808 units at $2,640,059. In contrast, June ended with an average of 818,748 units at $7,498,308.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments climbed $4 to end at $57 after exchanging 1,588 shares, Berger Paints fell $1 to $12 in trading 17,604 units, Eppley Caribbean Property Fund jumped $7 in closing at $46.10 and exchanged 867 shares. First Rock Capital dropped by 40 cents in closing at $13 with 6,716 shares crossing the market, Jamaica Broilers Group lost 50 cents to close at $25, with 4,316 shares changing hands, Jamaica Producers Group gained 73 cents to end at $23.40 with investors switching ownership of 250 stock units. Jamaica Stock Exchange advanced by 45 cents to $21.95, with 11,122 stock units crossing the market, JMMB Group declined by 50 cents to end at $31 after exchanging 74,555 stock units, Key Insurance climbed $1 in closing at $6 and clearing the market with 49,631 shares. Mayberry Investments increased $1.20 t $6.50 with investors switching ownership of 10,421 shares, Palace Amusement jumped $232.50 to close at $1782.50 with investors trading just stock unit, PanJam Investment fell 96 cents after closing at $66.05 and exchanging 3,087 shares. Portland JSX declined by $1.10 to close at $7.25 trading 80,000 units, Proven Investments  gained 50 cents to end at $33.50 with 18,517 stock units changing hands, Sagicor Real Estate Fund carved out a gain of $1.17 in ending at $8.92 with an exchange of 1,217 units. Scotia Group lost 30 cents closing at $44.20 with investors swapping 155,653 stock units and Seprod gained $1 to close at $57, with 24,527 shares changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising TTSE stocks beat decliners

Trading on the Trinidad and Tobago Stock Exchange ended with 16 securities changing hands with the closed with an exchange of a mere 37,299 shares, accounting for $945,936 compared to 157,549 units at $2,027,875 on Friday.
At the close of the market the prices of five stocks recorded gains, three declined and eight remaining unchanged leaving the Composite Index with a rise of 2.48 points to end at 1,310.66, the All T&T Index losing 0.28 points to finish at 1,769.54 and the Cross Listed Index advancing by 0.72 points to close at 115.10.
An average of 2,331 units traded at $59,121, for the day, in contrast to an average of 10,503 at $135,192 on Friday. An average of 12,565 units traded at $147,718 for the month to date versus 13,174 units at $156,366 up to Friday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the Trinidad and Tobago market shows four stocks ended with bids higher than their last selling prices and two with lower offers.
Stocks gaining| Angostura Holdings rose 5 cents to close at $15.30 in trading 20,000 stock units, Grace Kennedy advanced by 5 cents to end at $3.50 after exchanging 287 stock units, Guardian Holdings carved out a gain of 50 cents in closing at $19.70, with 78 units changing hands. NCB Financial Group increased 10 cents to close at $7.80, exchanging 1,409 stock units and Prestige Holdings rose 10 cents to $8.35, with investors switching ownership of 50 stock units.
Stocks declining| First Citizens Bank carved out a loss 15 cents ending at $46.10 while exchanging 1,137 units. FirstCaribbean International Bank fell 1 cent to end at a 52 weeks’ low of $7.09 after 200 units crossed the exchange and Calypso Macro Investment Fund fell 50 cents to close at $14 in trading 1,607 units.
Stocks trading firm| Agostini’s closed at $24.50 with an exchange of 100 units, Ansa Mcal closed at $50 after exchanging 510 units, Clico Investment Fund ended at $25.01, trading 4,954 units. National Enterprises settled at $4.50, with 100 units changing hands, Republic Financial Holdings closed at $139.47 with the trading of 1,985 shares. Scotiabank ended at $54.75 after 11 stock units crossed the market, Trinidad & Tobago NGL remained at $17, after 2,771 shares crossed the exchange and West Indian Tobacco closed at $35 after exchanging 2,100 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

General Accident in IC Top 10 Mailpac out

The price of General Accident dipped to $6.65 at the close of the week, from $7, last week and now returns to the IC Insider.com Junior Market TOP 10, replacing Mailpac Group, with the price moving from $2.01 at the end of the previous week to close this week at $2.14.
There was no change in the Main Market TOP 10 list for the week that saw the Main Market stocks lopping 6,300 points off the market index while the Junior Market rose 26 points.
The top three stocks in each market saw little change in the rankings, leaving the top three Junior Market stocks, with the potential to gain between 239 to 682 percent by March 2021. The first is Caribbean Producers, followed by Lasco Financial and Stationery and Office Supplies, a new entry in the third position.
The top three stocks in the Main Market, with expected gains of 186 to 208 percent are, Radio Jamaica followed by Berger Paints and JMMB Group.
This week’s focus: Seprod posted a 136 percent rise in profit to $568 million, for earnings per share of 77 cents, for the second quarter to June and 117 percent for the six months to $1.2 billion. Profit from continuing operations grew at a slower pace at 38 percent for the second quarter and 41 percent for the half-year. Revenues increased 18 percent to $9.5 billion for the June quarter and 12 percent to $18.6 billion for the six months. The company shuttered its loss-making sugar operations last year and that is helping with the improvement in results.
The stock is well outside the TOP 10, but the company is one of the top performers on the market before the move into sugar production. With its focus on exports and new ventures, the future looks bright for it. The stock is an excellent long-term investment and is likely to record some gains during the rest of 2020. IC Insider.com is projecting $4 per share earnings for the current year and it now trades at a PE ratio of 14, with limited upside potential in the short term.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 14.8 and the Junior Market at just 11.3, based on IC Insider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising and narrowing the gap, with the Main Market as investors seem to see better profit opportunities in this sector. The PE ratio for the Junior Market Top 10 stocks averages a mere 6 at just 53 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.4 or 57 percent of the PE of the overall market.
The average projected gain for the IC TOP 10 stocks is 269 percent, for the Junior Market and 146 percent for the JSE Main Market, based on 2020-21 earnings, an indication that there is the potential to make greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver some of the best returns, up to March 2021. The projected gain for each stock takes into account the earnings and PE ratios for the current fiscal year. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. 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.