Mild pull back for TTSE – Monday

Trinidad & Tobago Stock Exchange market closed mixed on Monday with 13 securities being active against 16 on Friday as the market ended with 3 stocks rising, 6 declining and 4 remaining unchanged.
At the close of the market, the Composite Index inched 0.13 points to 1,399.55. The All T&T Index added 0.34 points to 1,754.48, while the Cross Listed Index shed 0.01 point to close at 141.55.
Trading ended with 290,349 shares valued $7,081,786, compared to 68,899 shares valued $1,404,017 shares on Friday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 10 stocks with bids lower than their last selling prices and 1 with a lower offer.
Gains| NCB Financial rose 5 cents and closed at $10.71, with investors exchanging 1,000 shares, One Caribbean Media gained 1 cent and ended at $10, with 10,000 units crossing the exchange and Trinidad & Tobago NGL rose 9 cents in exchanging 2,763 shares to close at $25.75.
Losses| Clico Investments Fund shed 7 cents and settled at $24.03, with 131,840 stock units trading, First Citizens Bank dropped 16 cents and completed trading at $40.83, with 5,273 stock units trading, JMMB Group declined 5 cents to end at $1.95, after swapping 20,000 shares. Republic Financial fell 32 cents and settled at $122.93, trading 18,858 shares, Sagicor Financial closed with a loss of 7 cents and ended at $10.61, with investors exchanging 528 shares and Scotiabank shed 1 cent and completed trading of 12,450 units at $59.46.
Firm Trades| Grace Kennedy settled at $3.36, swapping of 80,000 shares, Guardian Holdings ended at $18.35, after exchanging 6,605 shares, National Enterprises concluded trading at $5.70, with 82 stock units changing hands and Unilever Caribbean completed trading at $23.50, after exchanging 950 shares.

Prices of securities trading are those at which the last trade took place.

Main Event leaps into IC TOP 10

Main Event revenues growing nicely profit stalls.

Overall price movement on the Jamaica Stock Exchange was steadier ahead of the month-end but some stocks recorded notable price movements as the JMMB Group APO remained opened.
Main Event shot into the Junior Market TOP 10 list this week in the number 3 position with a switch to earnings for 2020 fiscal year. The company came under selling pressure recently with profit declining in the July quarter although revenues climbed a strong 29 percent over the outturn for the similar quarter in 2018. The company managed to record a modest increase in its nine months profit with earnings per share of 36 cents. If the growth in revenues maintains the trend for 2019 in 2020 and management controls cost that was out of line in 2019, then the company should go on to record a strong increase in profit in the 2020 fiscal year that starts this month.
Honey Bun returns to the Junior Market TOP 10 stocks while Caribbean Flavours and Access Financial with an earnings downgrade, following release of the six months results, are out of the IC TOP 10. Over in the main market, Eppley moved in at the expense of Scotia Group with the price climbing to $58.99 on Friday.
The top three Junior Market stocks, continue to be led by Caribbean Producers with projected gains of 237 percent, followed by Iron Rock Insurance with potential gains of 233 percent followed by Main Event with 226 percent.
Radio Jamaica remains the lead stock with projected gains of 176 percent, followed by Carreras in the number two spot with likely gains of 128 percent and Jamaica Broilers with projected growth of 107 percent is next.
The main market, closed the week with the overall PE of 17.8, up from 17.2 and the Junior Market at 12.1 from 11.8, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.8 with the main market PE at 10.7 from 10.8 for the previous week.
The TOP 10 stocks now trade at a discount of 37 percent to the average for Junior Market stocks and main market stocks trade at a discount of 38 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have an interest in the securities commented on.

Soft November start for JSE main market

The main market of the Jamaica Stock Exchange opened November with the major indices falling marginally as declining stocks beat out rising ones.
At the close, the JSE All Jamaican Composite Index declined 674.79 points to close at 543,079.52; the JSE Index lost 611.43 points to 494,576.50 and the JSE Financial Index was down 0.15 points to close at 134.41.
Trading closed with 40 securities changing hands in the main and US dollar markets with 12 advancing, 18 declining and 10 traded firm. Main market activity ended with 38 securities trading 11,107,535 units valued at $113,371,137, in contrast to 38,125,741 units valued at $101,388,568 on Thursday with 40 securities trading.
Sagicor Select Funds dominated trading with 3.8 million shares for 34 percent of total volume, followed by Wigton Windfarm with 3.1 million units accounting for 28 percent of the day’s trade and Wisynco with 816,449 shares for 7 percent of the market’s trade.
The market closed with an average of 292,304 units valued at $2,983,451 for each security traded, in contrast to 953,144 units valued at an average of $2,534,714 on Thursday. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 1 with lower offers. The PE ratio of the market ended at 17 with the main market ending at 17.8 times 2019 current year’s earnings.
In main market activity, Barita Investments gained 50 cents to close at $70.50 after trading 55,812 shares, Caribbean Cement lost 50 cents to end at $77, after exchanging 52,135 units, Carreras dropped 90 cents trading 612,631 stock units to settle at $7.90, Eppley dropped $1.50 to close at $14.50, after swapping 680 shares. Grace Kennedy closed $1.49 lower to $66, with 77,510 stock units changing hands, Jamaica Producers gained $1.10, ending at $24 with 3,651 units traded, Jamaica Stock Exchange lost 40 cents to close at $29.10, with 43,202 shares crossing the exchange. JMMB Group closed 30 cents lower at $42.70 in trading 19,543 stock units, Mayberry Investments lost 35 cents, to settle at $7.15 with 215,225 shares changing hands, NCB Financial gained $2 to close at $205, after swapping 43,196 stock units. PanJam Investment closed at $98, after losing $2 with 19,021 units traded, Pulse Investments lost 30 cents exchanging 17,920 shares to end at $4.40, Sagicor Group declined $2 to $64, with 53,384 shares traded. Sagicor Real Estate Fund closed 39 cents lower at $11.50, in swapping 44,315 stock units, Salada Foods advanced $2.70 to $32, in exchanging 26,000 units, Scotia Group climbed $3.99 and ended at $58.99, trading 603,998 shares, Seprod closed $1.50 lower to $52.50 with 2,003 units traded. Stanley Motta lost 54 cents to end at $5.20, with 19,600 shares changing hands, Supreme Ventures gained 83 cents to close at $25.98, with an exchange of 472,471 shares and Wisynco Group surged $1.50 in swapping 816,449 shares to close at $23.50 as investors responded positively to the Group’s strong September quarterly results with profit jumping 53 percent.
Trading in the US dollar market ended with 42,285 units traded at US$1,396 with the market index gaining 0.23 points to close at 202.79. Sterling Investments gained 0.2 US cents trading 39,000 units to close at 2.4 US cents and Sygnus Credit Investments exchanged 3,285 shares at 14 US cents.

Pull back for TTSE – Friday

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Trinidad & Tobago Stock Exchange market indices dropped at the close of trading on Friday with 16 securities being active against 13 on Thursday. The market ended with 5 stocks rising, 6 declining and 5 remaining unchanged.
At the close of the market, the Composite Index dipped 3.45 points to 1,399.42. The All T&T Index fell 6.51 points to 1,754.14, while the Cross Listed Index shed 0.04 points to close at 141.56.
Trading ended with 68,899 shares valued $1,404,017, compared to 452,601 shares valued $19,844,573 shares on Thursday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 7 stocks with bids lower than their last selling prices and 1 with a lower offer.
Gains| Clico Investments Fund gained 4 cents and ended at $24.10, with 8,118 units crossing the exchange, First Citizens Bank added 19 cents and settled at a 52 weeks’ high of $40.99 as 765 stock units changed hands, NCB Financial gained 1 cent to end at $10.66, after exchanging 60 shares. Scotiabank rose 7 cents to $59.47, with 675 units changing hands and Trinidad & Tobago NGL inched 1 cent higher in exchanging 4,110 shares to close at $25.66.
Losses| Grace Kennedy fell 4 cents and ended at $3.36, with 774 units crossing the exchange, Guardian Media shed 25 cents and settled at $8.25, with 2,000 stock units changing hands, One Caribbean Media slipped 1 cent and ended at $9.99, with 2,000 units crossing the exchange. Republic Financial declined by 25 cents and closed at $123.25, with 1,970 units trading, Unilever Caribbean fell 50 cents and settled at $23.50, with 11,888 stock units changing hands and West Indian Tobacco ended trading 49 cents lower at $104.50, with 2,227 units crossing the exchange.
Firm Trades | Calypso Micro Index Fund traded 200 shares and closed at $15.75, Guardian Holdings ended at $18.35, with investors exchanging 500 shares, National Flour completed trading  of 13,425 units at $1.49, Sagicor Financial closed at $10.68, with 19,042 units crossing the exchange and Trinidad Cement ended at $2, after exchanging 1,145 shares.

Prices of securities trading are those at which the last trade took place.

Strong JSE month end rise

The main market of the Jamaica Stock Exchange ended October on the up but is down a significant 23,316.22 points for the month and 7 percent below the peak reached in early August.  
At the close, the JSE All Jamaican Composite Index climbed 3,949.97 points to close at 543,754.31, the JSE Index advanced 3,577.89 points to 495,187.93 and the JSE Financial Index gained 0.33 points to close at 133.41.
Trading closed with 44 securities changing hands in the main and US dollar markets with 21 stocks advancing, 11 declining and 12 traded firm. Main market activity ended with 40 securities trading 38,125,741 units valued at $101,388,568, in contrast to 29,380,399 units valued at $238,224,184 on Tuesday with 38 securities trading.
Wigton Windfarm dominated trading with 30 million shares for 80 percent of total volume, followed by Sagicor Select Funds with 3.25 million units accounting for 9 percent of the day’s trade and Carreras with 1.2 million shares for 3 percent of the market’s trade.
The market closed with an average of 953,144 units valued at $2,534,714 for each security traded, in contrast to 773,168 units valued at an average of $6,269,057 on Tuesday. The average volume and value for the month to date amounts to 957,274 units valued at $13,330,997 and previously an average of 957,488 units valued at $13,947,047 for each security traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 19 stocks ended with bids higher than their last selling prices and just 1 with a lower offer. The PE ratio of the market ended at 17.1 with the main market ending at 17.9 times 2019 current year’s earnings.
In main market activity, Barita Investments lost $1 to settle at $70 trading 33,922 shares, Caribbean Cement ended at $77, after gaining 50 cents in exchanging 7,900 shares, Carreras ended with 1,216,915 shares trading and gained 90 cents to close at $8.80. Eppley Caribbean Property Fund added $2 and closed at $34 with 1,000 shares changing hands, Eppley gained 50 cents to close at $16, in swapping 100 shares, Grace Kennedy jumped $1.32 while exchanging 17,906 shares, to end at $67.49. Jamaica Broilers closed 85 cents higher at $34 with 13,729 shares changing hands, Jamaica Stock Exchange rose 58 cents to $29.50 in trading of 104,408 shares, MPC Caribbean Clean Energy rose to another record high with a gain of $5 to close at $260, after trading of 500 shares. Investors in the stock were responding to the 3 for 1 rights issue scheduled for November at $140 per share. NCB Financial declined to $203, after losing $2 in exchanging 27,999 shares, 138 Student Living closed 50 cents higher to end at $4 with 100 shares changing hands, PanJam Investment closed at $100, after rising $2.05 with an exchange of 20,250 shares. Proven Investments traded 515 shares and jumped $5 to end at $45, Sagicor Real Estate Fund rose 29 cents to $11.89 with an exchange of 30,100 shares, Salada Foods added 30 cents to settle at $29.30 after 2,832 shares crossed the exchange. Scotia Group gained $1.70 to close at $55 as investors swapped 22,215 shares, Seprod jumped $2.32 to close at $54, trading 47,960 units, Stanley Motta closed at $5.74 with a rise of 34 cents, after exchanging 46,937 shares. Sygnus Credit Investments closed 24 cents lower to end at $21.26 after trading 54,201 shares and Wisynco Group rose $1 exchanging 1,044,580 shares to close at $22 before the company reported a 53 percent rise in profit for the September quarter.
Trading in the US dollar market ended with 26,512 units valued at US$6,713 with the market index rising 9.18 points to close at 202.56. Productive Business Solution increased 2.5 cents and completed trading at 60 US cents exchanging 6,800 shares, Proven Investments lost 0.9 US cent trading 7,692 units to close at 27 US cents, Sterling Investments lost half a cent and closed at 2.2 cents US after trading 10,000 shares and Sygnus Credit Investments exchanged 2,020 shares to end at 14 US cents.

Strong JSE gain ahead of month end

The main market of the Jamaica Stock Exchange recorded gains in the major market indices on Wednesday, ahead of the month-end, with moderately lower volume and value than on Tuesday.
At the close, the JSE All Jamaican Composite Index climbed 2,643.80 points to close at 539,804.34; the JSE Index advanced 2,371.17 points to 491,610.04 and the JSE Financial Index gained 0.33 points to close at 133.41.
Trading closed with 41 securities changing hands in the main and US dollar markets with 15 stocks advancing, 18 declining and 8 traded firm. Main market activity ended with 38 securities trading 29,380,399 units valued at $238,224,184, in contrast to 36,170,897 units valued at $276,199,901 on Tuesday with 40 securities trading.
Wigton Windfarm dominated trading with 19.8 million shares for 68 percent of total volume, followed by Sagicor Select Funds with 4.4 million units accounting for 15 percent of the day’s trade and Barita Investments with 1.2 million shares for 4 percent of the market’s trade.
The market closed with an average of 773,168 units valued at an average of $6,269,057 for each security traded, in contrast to 951,866 units valued at an average of $7,268,418 on Tuesday. The average volume and value for the month to date amounts to 957,488 units valued at $13,947,047 and previously an average of 967,004 units valued at $13,607,212 for each security traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.6 with the main market ending at 17.2 times 2019 current year’s earnings.
In main market activity, Barita Investments lost $2.50 to settle at $71 trading 1,205,083 shares, Caribbean Cement ended at $77, after losing 39 cents and exchanging 29,927 shares, Eppley Caribbean Fund closed at $32 with a drop of $4 with 6,500 shares changing hands. Eppley gained $1 to close at $15.50, in swapping 200 shares, Grace Kennedy dropped $2.30 exchanging 5,729 shares, to end at $66.17, Jamaica Producers closed 39 cents higher to $22.90 with 29,021 shares changing hands, Kingston Wharves added $1.40, rising to $61.40 with 200 shares traded. Mayberry Investments lost 40 cents to close at $7.50, with 156,234 shares crossing the exchange, MPC Caribbean Clean Energy rose to a record $255, after adding $14 and trading of 546 shares. NCB Financial advanced to $205, after gaining $3 in swapping 228,860 shares, 138 Student Living closed 60 cents higher, in settling at $3.50 with 50,000 shares changing hands, PanJam Investment slid to $97.95, after losing $2.05 with 101,283 shares traded. Proven Investments traded 1,670 shares and lost $1 to end the day at $40, Sagicor Group lost $1 to close at $66, with 27,160 shares being exchanged, Sagicor Real Estate Fund rose 80 cents to $11.60 with an exchange of 106,463 shares, Salada Foods lost 30 cents to settle at $29 after 520 shares crossed the exchange. Scotia Group closed 30 cents higher at $53.30, in swapping 156,085 shares, Seprod lost 38 cents to close at $51.68, trading 21,160 units, Supreme Ventures closed at $25.15 with a loss of 84 cents, after exchanging 16,010 shares. Sygnus Credit Investments closed 50 cents lower to end at $21.50 after trading 11,934 shares and Wisynco dropped $1.13 exchanging 410,239 shares to close at $21.
Trading in the US dollar market ended with 143,392 units valued at US$64,655 with the market index losing 6.55 points to close at 193.38. JMMB Group 6% preference shares closed at US$1.01 after trading 40,688 shares, Proven Investments lost a fraction of 1 US cent trading 76,688 units to close at 27.9 US cents and Sygnus Credit Investments exchanged 26,016 shares to end at 14 US cents, after gaining 1 US cent.

Falling TTSE stocks in spotlight – Wednesday

Market activity on the Trinidad & Tobago Stock Exchange closed on Wednesday with 15 securities trading against 15 on Tuesday, with 3 stocks advancing, 5 declining and 7 remaining unchanged.
At the close of the market, the Composite Index lost 8.91 points to 1,400.44. The All T&T Index declined 3.24 points to close at 1,755.85, while the Cross Listed Index shed 2.01 points to close at 141.60.
Trading ended with 375,891 shares valued $4,147,273, compared to 195,765 shares valued $3,121,985 shares on Tuesday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 3 stocks with bids lower than their last selling prices and 4 with lower offers.
Gains| First Citizens Bank closed with an increase of 29 cents and settled at $40.80, with 2,520 shares changing hands, Sagicor Financial ended trading of 1,052 stock units with a rise of 3 cents to close at $10.68 and Trinidad & Tobago NGL rose 1 cent in exchanging 3,143 units to close at $25.69.
Losses| Calypso Micro Index Fund lost I cent in trading 200 shares and closed at $15.75, Clico Investment Fund fell 4 cents to end at $24.06, with investors exchanging 29,967 stock units, First Caribbean International Bank closed with a loss of 45 cents and completed trading at $8.55, after exchanging 27,361 shares. Guardian Holdings shed 7 cents and completed trading at $18.35, with 200 units crossing the exchange and Republic Financial dropped $1.19 and ended at $122.06, with 235 shares crossing the exchange.
Firm Trades| Ansa Merchant Bank settled at $35.75, with 26 stock units changing hands, Grace Kennedy closed at $3.40, trading 57,991 units, National Flour completed trading at $1.49, with investors exchanging 20,000 shares. NCB Financial settled at $10.65, after exchanging 230,437 stock units, Scotiabank settled at $59.47, with just 5 units changing hands, Unilever Caribbean closed at $24.50, after exchanging 112 shares and West Indian Tobacco concluded trading at $105, with investors exchanging 2,642 stock units.

Prices of securities trading are those at which the last trade took place.

7 straight loss for JSE main market

The main market of the Jamaica Stock Exchange continued its negative move with 7 straight days of falling market index as the market posted modest losses on Tuesday on lower volume but higher value traded.
At the close, the JSE All Jamaican Composite Index shed 349.46 points to close at 537,160.54, the JSE Index dipped 200.00 points to 489,238.87 and the JSE Financial Index slipped 0.87 points to close at 133.08.
At the close of trading, 40 securities changed hands in the main and US dollar markets with 23 advancing, 10 declining and 7 stocks traded firm. Main market activity ended with 38 securities trading 36,170,897 units valued at $276,199,901, in contrast to 48,237,597 units at $136,439,498 on Monday with 35 securities trading.
Wigton Windfarm dominated trading with 25.2 million shares for 70 percent of total volume, followed by Sagicor Select Funds with 6.4 million units accounting for 18 percent of the day’s trade and PanJam Investment with 1.2 million shares for 3 percent market share.
The market closed with an average of 951,866 units valued at an average of $7,268,418 for each security traded, in contrast to 1,378,217 units valued at an average of $3,898,271 on Monday. The average volume and value for the month to date amounts to 967,004 units valued at $13,607,212 and previously an average of 961,280 units valued at $13,958,606 for each security traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 5 with lower offers. The PE ratio of the market ended at 16.5 with the main market ending at 17.2 times 2019 current year’s earnings.
In main market activity, Berger lost 50 cents to close at $18 with 11,728 shares changing hands, Eppley Caribbean Fund ended at $36, with gains of 99 cents while trading 400 stock units, Eppley dropped 50 cents to settle at $14.50, in swapping 1,670 stocks, Grace Kennedy climbed $1.67 exchanging 45,651 shares, to end the day at $68.47. Kingston Wharves closed $2.59 higher to $60, with just 1,140 shares changing hands, Mayberry Investments rose 34 cents to $7.90, with 6,488 shares crossing the exchange, MPC Caribbean Clean Energy jumped $21 in trading a mere 100 shares to end at a record $241, NCB Financial gained $1.99 to close at $202, in swapping 66,638 shares. PanJam Investment gained 50 cents to settle at $100 with 1,199,725 shares trading, Proven Investments traded 2,281 shares in falling $1.40 to end at $41, Pulse Investments closed 53 cents higher to $4.78, with 79,211 shares changing hands. Sagicor Group closed at $67, after gaining 75 cents with an exchange of 46,273 shares, Seprod advanced by $1.56, settling at $52.06, trading 13,584 units, Supreme Ventures closed at $25.99 as the price rose 84 cents, after exchanging 937,485 shares and Sygnus Credit Investments closed 60 cents higher, ending at $22 trading 43,447 shares.
Trading in the US dollar market ended with 717,516 units valued at over US$150,912 with the market index advancing 5.11 points to close at 199.93. Proven Investments rose 2 US cents trading 365,316 units to close at a 52 weeks’ high of 28 US cents and Sygnus Credit Investments exchanged 352,200 shares, falling 0.99 of a US cent to end at 13 US cents.

JSE main market decline continues

The more than 11,000 points sharp decline of the Jamaica Stock Exchange main market indices last week continued on Monday, as volume and value dropped compared to that on Friday.
The JSE All Jamaican Composite Index ended with a fall of 2,448.77 points to close at 537,510.00, the JSE Index declined by 2,178.75 points to 489,438.87 and the JSE Financial Index lost 0.24 points to close at 133.95.
At the close of trading, 38 securities changed hands in the main and US dollar markets with 14 advancing, 14 declining and 6 trading firm. Main market activity ended with 35 securities trading 48,237,597 units valued at $136,439,498, in contrast to 64,041,525 units valued at $1,348,335,010 on Friday with 33 securities trading.
Wigton Windfarm dominated trading with 41.85 million shares for 87 percent of total volume, followed by Sagicor Select Funds with 3.46 million units accounting for 7 percent of the day’s trade and Scotia Group with 590,136 shares for 1 percent of the market’s trade.
The market closed with an average of 1,378,217 units valued at an average of $3,898,271 for each security traded, in contrast to 1,960,652 units valued at an average of $40,858,637 on Friday. The average volume and value for the month to date amounts to 961,280 units valued at $13,958,606 and previously an average of 946,164 units valued at $14,531,873 for each security traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ended with bids higher than their last selling prices and none with lower offers. The PE ratio of the market ended at 16.1 with the main market ending at 16.7 times 2019 current year’s earnings.
In main market activity, Barita Investments lost 60 cents to close at $73.50 while 4,852 shares were traded, Caribbean Cement jumped $5.51 to close at $77.50 with 166,784 shares changing hands after the company posted third quarter results showing lower revenues than for the same quarter in 2018. Net profit was just $77 million or 9 cents per share for the quarter and $1.85 for the nine months period versus $1.34 per share in 2018. Eppley Caribbean Property Fund traded 3,000 shares and dropped $4.49 to end at $35.01, Eppley ended at $15, after losing $1.85 trading a mere 630 shares, Jamaica Broilers swapped 24,699 shares, closing $2.90 lower at $33.10. Jamaica Producers gained 50 cents, after exchanging just 100 shares to settle at $22.50, JMMB Group rose $2.30 to close at $41.80, with 9,182 shares changing hands. Kingston Wharves dived $2.59 to $57.41, after trading 2,412 shares, MPC Caribbean Clean Energy jumped $19.99 in trading 100 shares to end at a record high of $220, Portland JSX climbed 50 cents to $8.50, in swapping 4,500 shares. Proven Investments traded 1,564 shares, gaining $1.40 to end at $42.40, Sagicor Group closed 25 cents higher at $66.25 with an exchange of 160,664 shares, Salada Foods advanced by $3.25 to close at $29.30 with 2,550 shares changing hands. Scotia Group lost 42.10 to close at $53 while trading 590,136 shares, Seprod lost $2 to settle at $50.50 with 936 units crossing the exchange, Sygnus Credit Investments lost 60 cents, in ending at $21.40 with an exchange of 104,628 shares and VM Investments lost 24 cents and  closed $7.75, after trading 199,482 shares.
Trading in the US dollar market ended with 197,701 units valued at over US$33,784 with the market index gaining 1.47 points to close at 194.82. In trading, JMMB Group gained 2 cents settled at US$2.02 with 3,769 shares, Proven Investments closed with 9,664 units changing hands at 26 US cents and Sygnus Credit Investments exchanged 134,268 shares and gained 2 US cents to end at 13.99 US cents.

IC TOP 10 steady in market volatility

The main market slipped on each trading day, this past week with the market index dropping more than 11,000 points and has corrected nearly 8 percent from the peak in August while the Junior Market fell 65 points but the TOP 10 stocks had one change.  
Jetcon Corporation rose in price by the end of the week to $1.99 from $1.85 at the close of the previous week and dropped out of the Junior Market TOP 10, while CAC2000 moved back into the top 10 at the number ten spot.
Market activity resulted in no change to the top three Junior Market stocks, leaving Caribbean Producers with projected gains of 233 percent as the leader, followed by Iron Rock with potential gains of 233 percent and Jamaican Teas with 167 percent.
Radio Jamaica closed the week down at $1.80 from $1.99 with projected gains of 178 percent, up from last week’s 151 percent and remains the leading undervalued main market stock. Carreras is the number two stock with likely gains of 129 percent and Berger Paints with projected gains of 95 percent is next.
The main market closed the week with the overall PE of 17.2 and the Junior Market at 11.8 based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks average is at 7.8 and the main market PE fell to 10.8 from 11.1 for the previous week.
The TOP 10 stocks now trade at a discount of 34 percent to the average for Junior Market stocks and main market stocks trade at a discount of 37 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains with the likely gains ranked in descending order with highest ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have an interest in the securities commented on.

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