The Jamaica Stock Exchange main market ended its ninth consecutive day of trading with another record close on Thursday, as investors pushed JMMB group to a record $42.50 and NCB Financial to a record high of $184.85, before they both pulled back at the close.
The JSE All Jamaican Composite Index jumped 4,510.51 points to end at a record close of 484,922.56 and the JSE Index climbed 4,099.18 points to record close of 441,656.26.
At the close market activity, on the main and US markets, the prices of 11 securities advanced, 12 declined and 12 traded firm, as a total of 35 securities traded, compared to 33 on Wednesday. Market activity ended with 18,955,666 units valued $147,418,895, in contrast to 27,861,999 units valued $644,155,189 on Wednesday.
Wigton Windfarm continues to dominate trading since listing in late May, closing with 13.9 million shares changing hands and 73 percent of total trades, followed by JMMB Group with 919,914 stock units and 5 percent of the day’s trades and Victoria Mutual Investments with 684,263 units for 4 percent of volume traded.
The market closed with average of 557,520 units valued at over $4,335,850, in contrast to 870,687 shares valued at $20,129,850 on Wednesday. The average volume and value for the month to date amounts to 860,896 shares, with a value of $9,289,962, compared to 967,234 shares, with a value of $11,026,454 previously. May closed with average of 2,248,261 units at an average of $12,751,529 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, Jamaica Broilers finished trading of 16,449 units with a rise of 76 cents to end at $32.51. Jamaica Producers added 99cents to close at $27, with 15,401 shares trading, Jamaica Stock Exchange lost 65 cents to end at $19., with an exchange of 44,163 shares, JMMB Group climbed 39 cents and concluded trading with 919,914 shares at $40, Mayberry Jamaican Equities exchanged 27,963 shares after sliding 85 cents to close at $11.45. NCB Financial Group ended trading of 121,084 shares at a record high of $184.85 but fell $1 to end the day at $169, PanJam Investment fell $1.01 in trading 30,101 shares to close at $94.99. Sagicor Group lost 40 cents in trading 113,467 stock units, to end at $48, Scotia Group gained $1 in trading 105,105 units to close at $52, Seprod fell 75 cents to end at $49.20, in trading 46,911 shares and Supreme Ventures lost 50 cents and settled at $30, with 521,695 shares trading. Sygnus Credit Investments added 50 cents in traded 138,512 units in closing at $13.50.
Trading in the US securities market resulted in 21,177 units valued $2,329 changing hands. Market activity ended with Sygnus Credit Investments traded 21,177 units and closed with a loss of 1 cent at 11 US cents. The JSE USD Equities Index fell 0.06 points to close at 194.37.
Lasco stocks bow out of IC TOP 10
Lasco Manufacturing that IC Insider last week suggested readers keep a keen eye on, reported outstanding full year results and climbed 18.5 percent to $3.85 on Friday, exit the Junior Market IC Insider.com’s TOP 10.
Lasco Financial came in with full year results that were above the 2018 figures and the price moved up to $5. IC Insider downgraded 2020 earnings to 60 cents per share, the combination of the two changes, pushed the stock outside the TOP 10, Jetcon is the third stock to move out of the top tier. Coming in to replace the above are CAC 2000, Everything Fresh and Consolidated Bakeries, all three newcomers have been having challenges with growing profits.
Carreras reported flat profits for the year to March resulting in downgrading of 2020 profits, with the stock no longer in the TOP 10, also leaving is Caribbean Cement with the price recovering during the week to close at $78, the two are replaced by Stanley Motta and Sygnus Credit Investments.
The three leading Junior Market stocks for the coming week are, Caribbean Producers with projected gains of 272 percent, followed by Iron Rock with likely gains of 243 percent and Medical Disposables with possible gains of 233 percent.
Sterling Investments with potential gains of 174 percent leads main market stocks, followed by Radio Jamaica with 159 percent and VM Investments in third spot with the potential to gain 141 percent within twelve months.
The main market, closed the week with the overall PE at 14.8 and the Junior Market at 11.1. The PE ratio for Junior Market Top 10 stocks averages 6.8 and the main market PE 9. These levels, point to a big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 39 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 within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. 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 interest in the securities commented on.
More declines for TTSE – Wednesday
Investors pushed all Trinidad & Tobago Stock Exchange indices down on Wednesday as losing stocks outnumbered advancing stocks for a second day.
The market closed with 16 securities trading compared to 18 on Tuesday, leading to 4 advancing, 6 declining and 6 remaining unchanged.
At close of the market, the Composite Index lost 1.23 points on Wednesday to 1,355.27. The All T&T Index declined 1.26 points to 1,794.99, while the Cross Listed Index fell 0.16 points to close at 123.57 as trading ended with 555,380 shares valued $7,981,829 changing hands, compared to 290,940 shares valued $5,103,109 shares, on Tuesday.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 3 stocks with a higher bid than their last selling prices and 3 with lower offers.
Stocks ending with gains| At the close of the market, Sagicor Financial added 35 cents to end at $9.50, after trading 274,855 units, Scotiabank increased 34 cents to close at $62.90, after exchanging 2,780 shares. Trinidad & Tobago NGL climbed $1.30 to settle at $28.05, after trading 53,654 shares and Trinidad Cement rose 19 cents to end at $2.74, with 11,193 stock units changing hands.
Stocks closing with losses| Clico Investments fell 5 cents to close at $23.40, trading 16,935 units, Grace Kennedy concluded trading 2,500 units, with a loss of 5 cents to end at $3.25, JMMB Group traded with a loss of 10 cents at $1.90, with 83,000 stock units changing hands. National Flour fell 2 cents $1.70, after exchanging 1,152 shares, Republic Financial Holdings closed with a loss of 2 cents and closed at $121.10, with 11,498 stock units changing hands and Unilever Caribbean shed 25 cents and ended at $25.75, with 10 units trading.
Stocks closing firm| First Caribbean International Bank completed trading at $8.35, after exchanging 1,154 shares, First Citizens settled at $38.50, after 2,507 shares changed hands, Guardian Holdings completed trading of 62,296 shares at $18.50. NCB Financial Group closed at $8.45, with 20,066 stock units changing hands, One Caribbean Media ended at $10.30, trading 10,000 units and West Indian Tobacco completed trading at $110, after exchanging 1,780 shares.
Prices of securities trading for the day are those at which the last trade took place.