The Jamaica Stock Exchange main market declined for a second consecutive day at the close on Tuesday with less than half the volume traded on Monday but with Barita Investments with a big 8 million units trade for $649 million following 6 million units valued $487 million on Monday.
Trading ended with 39 securities changing hands in the main and US dollar markets with 10 advancing, 19 declining and 10 trading firm. The market closed with the JSE All Jamaican Composite Index dropped 421.45 points to close at 560,406.97. The JSE Index was down 387.75 points to 510,011.86 and the JSE Financial Index slipped 0.08 points to close at 139.21.
Main market activity ended with 36 securities trading resulting in 44,023,689 units valued at $758,570,804 in contrast to 98,349,184 units valued at $1,160,920,073 from 35 securities trading on Monday.
JMMB Group 7.5% preference share led trading with 22 million units for 50 percent of total volume, followed by Barita Investments with 8 million units accounting for 18 percent of the day’s trade and Wigton Windfarm with 7 million shares for 16 percent of the market’s trade. Also trading more than a million shares, were, Sagicor Select Funds with 2 million shares changing hands and QWI Investments with 1.5 million units and closing at an all-time low of $1.19.
The Market closed with an average of 1,222,880 units valued at an average of $21,071,411 for each security traded, in contrast to 2,809,977 units for an average of $33,169,145 on Monday. The average volume and value for the month to date amounts to 1,147,595 shares at $11,637,677 for each security traded and previously 1,360,410 units valued at $9,708,050 for each stock 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 3 with lower offers.
In main market activity, Barita Investments gained 36 cents to settle at $79.86 with an exchange of 8,128,881 shares, Berger Paints lost 40 cents to close at $18.60 with 3,835 units trading, Carib Cement closed 64 cents lower after 14,950 shares changed hands to end at $79.36. Jamaica Broilers ended with a loss of $1.99, closing at $36.01 as 145,234 shares traded, Jamaica Stock Exchange lost 40 cents, after exchanging 36,003 shares to settle at $29, JMMB Group closed 99 cents lower at $45, with 30,369 shares changing hands. Kingston Wharves jumped $3 to settle at $60, after trading 1,642 shares, NCB Financial slid $1 to close at $204 while exchanging 41,451 units, PanJam Investment closed $2 lower in swapping 39,968 shares to end at $103. Portland JSX gained 50 cents in trading 5,200 shares to close at $8.50, Scotia Group dropped $3 to $58 with 9,900 shares changing hands, Seprod declined by $2.50 to end at $51 with an exchange of 101,439 shares and Sygnus Credit Investments gained 69 cents, after exchanging 101,048 shares.
Trading in the US dollar market ended with 259,948 units valued US$81,583 with the market index rising 0.29 points to close at 198.91. Proven Investments exchanged 230.020 shares, to close at 27 US cents and JMMB Group 6% preference share traded 17,865 units, losing 1 US cent to end at 99 US cents.
5 TTSE stocks rise 3 fall – Tuesday
Trinidad & Tobago Stock Exchange ended trading on Tuesday 19 securities changing hands compared to 12 on Monday with 5 advancing, 3 declining and 11 remaining unchanged.
At the close of the market, the Composite Index rose 1.99 points to end at 1,409.38. The All T&T Index gained 1.72 points to 1,751.23, while the Cross Listed Index rose 0.31 points to close at 144.74.
Trading ended with, as 418,052 shares changing hands at $12,253,099, compared to 309,818 shares changed hands at $14,030,851 on Monday.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with one stock closing with the bid higher than the last selling price and two with lower offers.
Gains| Clico Investment Fund added 10 cents and ended at $24.10, with 17,695 units crossing the exchange, Angostura Holdings increased 5 cents and completed trading at $16.05, with 1,000 stock units changing hands, JMMB Group closed with a gain of 5 cents and settled at $2.20, with 5,081 stock units trading. Sagicor Financial gained 30 cents and settled at $10.50, after exchanging 53,365 shares and West Indian Tobacco concluded trading with a gain of $2 to end at $106, with investors exchanging 42,586 shares.
Losses| National Enterprises declined 5 cents and completed trading at $5.70, with 485 units, National Flour fell by 1 cent close at a 52 weeks’ low of $1.56, after exchanging 50,000 shares and Scotiabank declined by 20 cents at $58.80, after swapping of 10,767 shares.
Firm Trades| Ansa McAl settled at $55, after exchanging 1,082 shares, Calypso Micro Index Fund traded 120 shares and closed at $15.75, CinemaOne ended at $8, with investors exchanging 100 shares, First Caribbean International Bank settled at $9.25, with 486 stock units trading. First Citizens Bank concluded trading of 5,611 units at $40.20, Grace Kennedy ended at $3.30, with 1,000 units traded, Guardian Holdings settled at $18.25, with investors exchanging 12,051 shares. NCB Financial ended at $10.59, with 1,794 units crossing the exchange, One Caribbean Media completed trading of 8,050 units at $10, Republic Financial ended at $122 after 1,592 stock units traded and Trinidad & Tobago NGL exchanged 205,187 units and closes at $25.50.
Prices of securities trading are those at which the last trade took place.
Bun & Teas in IC TOP 10 BUY RATED
Buy Rated Junior Market stocks have two new entrants this week with Honey Bun and Jamaican Teas returning to the top listing. Both companies’ fiscal year ended September, with earnings for the 2020 fiscal year, used in valuing them.
The new listings are expected to benefit from growth in the core business, with Honey Bun continuing to benefit above the norm from the expansion of the factory late last year and new products being manufactured while Jamaican Teas could benefit from investment gains from the portfolio of QWI Investments.
Dropping from the Junior Market TOP 10 are Elite Diagnostic and Express Catering. There were no changes to the main market TOP 10.
Market activity, left Caribbean Producers with projected gains of 240 percent as the leading Junior Market stock with likely gains, followed by Iron Rock Insurance with potential gains of 204 percent and Medical Disposables with projected gains of 184 percent.
Radio Jamaica (RJR) share price slipped during the week to a low of $1.35 but bounced to close the week at $1.60, pushing projected gains to 213 percent, to remain the leading main market stock. RJR is benefiting from increasing revenues, resulting from a more buoyant economy, the rollout of new services, the signing of an agreement with Flow that will add to revenues without the added cost and lower costs in a number of areas, with more to come. Carreras sits at the number two spot with projected gains of 125 percent with the price slipping a bit during the week and Berger Paints with projected gains of 115 percent in next.
The main market, closed the week with the overall PE of 17.1 down from 17.7 the previous week and the Junior Market is at 11.1 from 11.7 based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.7 compared to 7.9 the previous week and the main market PE remains at 10.4.
The TOP 10 stocks now trade at an average discount of 31 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 39 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.
Big price changes for TTSE stocks- Friday
Price changes on the Trinidad & Tobago Stock Exchange were more pronounced at the close of trading on Friday than in recent days, with three securities having price changes close to 50 cents each.
At the close of the market, the Composite Index moved 1.92 points higher to 1,407.10. The All T&T Index rose 1.78 points to 1,748.94, while the Cross Listed Index gained 0.28 points to close at 144.43.
Trading ended with 14 securities changing hands compared to 14 on Thursday, with 3 advancing, 2 declining and 9 remaining unchanged with 282,910 shares changing hands at $5,955,009, compared to 246,379 shares changing hands at $2,692,390 on Thursday.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 1 stock closing with the bid higher than the last selling price and 2 with lower offers.
Gains| Guardian Holdings rose 9 cents and ended at $18.25, with 7,055 units crossing the exchange, LJ Williams 8% preference share, gained of 49 cents to close at a 52 weeks’ high of $3.79, with 100 stock units trading and Scotiabank ended with a rise of 48 cents and completed trading of 200 stock units at $59.
Losses| Clico Investment Fund fell 10 cents and settled at $24, with 7,807 units crossing the exchange and Trinidad & Tobago NGL exchanged 207,300 units but lost 49 cents to close at $25.01.
Firm Trades| First Caribbean International Bank ended at $9.25, with investors exchanging 200 shares, First Citizens Bank completed trading at $40.10, after exchanging 450 shares, Grace Kennedy settled at $3.30, with 52,468 units changing hands. LJ Williams B share closed at $1, with investors exchanging 3,000 shares, NCB Financial settled at $10.55, after trading 950 shares, Point Lisas ended at $3.60, with investors exchanging 1,200 shares. Republic Financial settled at $121.85, with 940 units crossing the exchange, Sagicor Financial ended at $10.20, swapping 1,195 units and West Indian Tobacco settled at $104.32, after trading 45 units.
Prices of securities trading are those at which the last trade took place.
Modest changes for TTSE indices – Thursday
Price changes on the Trinidad & Tobago Stock Exchange were modest for the second day in a row, when trading closed on Thursday and lead to moderate movements in the market indices.
At the close of the market, the Composite Index moved 0.40 points higher to 1,405.18. The All T&T Index fell 0.06 points to 1,747.16, while the Cross Listed Index added 0.12 points to close at 144.15.
Trading ended with 14 securities changing hands similar to Wednesday, with one advancing, 3 declining and 10 remaining unchanged with 246,379 shares changing hands at $2,692,390, compared to 270,524 shares trading for $12,714,020 on Wednesday.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 2 stocks closing with bids higher than the last selling prices and one with a lower offer.
Gains| Clico Investment Fund rose 10 cents and ended at $24.10, in the swapping of 6,448 shares.
Losses| Guardian Media dropped 5 cents in exchanging 957 shares at a 52 weeks’ low of $8.70, National Enterprises lost 1 cent and completed trading of 2,700 stock units at $5.75 and Sagicor Financial ended 1 cent lower at $10.20, with 17,937 shares changing hands.
Firm Trades| Grace Kennedy ended at $3.30, with 107,000 stock units changing hands, JMMB Group closed at $2.15, with investors exchanging 6,500 shares, Massy Holdings settled at $54.50, after exchanging 380 shares, National Flour settled at $1.57, with 25 stock units trading. NCB Financial ended at $10.55, with 51,300 units crossing the exchange, Point Lisas settled at $3.60, with 25 stock units trading, Republic Financial ended at $121.85, in swapping of 328 shares. Trinidad & Tobago NGL exchanging 52,279 units to close at $25.50, Unilever Caribbean ended at $25, with 300 stock units changing hands and West Indian Tobacco ended at $104.32, with 200 units.
Prices of securities trading are those at which the last trade took place.