The two main Jamaica Stock Exchange markets may have broken loose from the area of resistance, but they continue to be hemmed in around current trading levels, with Junior Market closing below last week’s close with three days of decline and the
Main market had three days of decline but ended the week with a fall of points after recording a strong rise the previous week.
Caribbean Cream is back with earnings per share now at 70 cents for the current year, while Future Energy Source reached new highs during the week and is out of the IC Junior Market TOP10. In the Main Market, there was no change in the list, but earnings per share for JMMB Group is upgraded to $6 for the current year and the stock is now the second best main market stock, with potential to gain over 200 percent for the next twelve months.
There are still several stocks that are severely undervalued, with the scope to record above average gains up to the first half of 2022.
This past week the average gains projected for the Junior stocks slipped from 207 percent last week to 204 percent and the Main Market stocks moved up from last week’s 166 percent up to 172 percent with the upgrading of JMMB earnings.
The top three stocks in the Junior Market continue to be Elite Diagnostic heading the list, followed by Caribbean Assurance Brokers and Medical Disposables, with the potential to gain from 254 to 276 percent, after the range fell from 247 to 300 percent last week. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by JMMB Group and Guardian Holdings, with expected gains of 171 to 379 percent versus last weeks’ 160 to 391 percent.
The Junior Market closed the week with an average PE 13.1 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the recent historical average of 17 for the period to March this year based on 2020 earnings. For the market to trade at the historical average, the PE Ratio would have to rise by 31 percent and require a rise of 52 percent to March 2022 to reach the targeted PE of 20.
The Junior Market Top 10 stocks average PE is a mere 6.8, just 51 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 17.1, a little distance from the 19 the market ended at in March, suggesting just an 11 percent rise at a PE of 19 and 17 percent at a PE of 20 from now to March 2022. 
The Main Market TOP 10 trades at a PE of 7.9 or 46 percent of the PE of that market, well off the potential of 20.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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.
The All Jamaican Composite Index sprung 2,108.95 points higher to 471,552.19, the JSE Main Index fell 623.96 points to end at 431,109.83 and the JSE Financial Index slipped 0.23 points to 107.29.
Investor’s Choice bid-offer indicator reading has twelve stocks ending with bids higher than their last selling prices and two with lower offers.
Portland JSX sprung 61 cents higher to $9.41 with 948 units changing hands, Proven Investments shed 37 cents to close at $35.02 in trading 20,407 stocks, Sagicor Group dived $4.23 to $58.61, with 267,469 shares clearing the market, Stanley Motta gained 25 cents to close at $5.90 with an exchange of 68,437 stocks, Sterling Investments rallied 20 cents to $3 with 973 stock units changing hands and Wisynco Group popped 49 cents higher to $15.98 in trading 176,609 shares.
At the close, 14 traded compared to 17 on Thursday, with four stocks rising, two declining and eight remaining unchanged. The Composite Index fell 0.74 points to 1,389.63, the All T and T Index dipped 0.63 points to 1,900.95 and the Cross-Listed Index shed 0.12 points to settle at 118.06.
First Citizens Bank ended at $49.50 after exchanging 987 units, Grace Kennedy slipped 4 cents to $5.41 in trading 10 stock units, Guardian Holdings shed $1.68 to close at $33, after 36,186 shares changed hands. Massy Holdings rallied $1.15 to close at $81.15 in trading 30,923 stocks, National Enterprises rose 20 cents to $3 with the swapping of 30 stock units, NCB Financial Group settled at $7.99 with an exchange of 627 shares. Prestige Holdings settled at $6.99, with 145 units clearing the market, Scotiabank remained at $57 trading 6,562 shares, Trinidad & Tobago NGL settled at $18, with 21,033 stock units clearing the market and West Indian Tobacco traded 1,200 stocks at $32.
with the value plunging 34 percent from Wednesday’s levels, at the close of the Jamaica Stock Exchange Main Market. 
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and none with lower offers.
Supreme Ventures rallied 41 cents to $19.80 in an exchange of 249,511 shares and Wisynco Group shed 35 cents to close at $15.49 after and exchange of 56,894 stocks.
At the close, 17 traded compared to 13 on Wednesday, with five stocks rising, three declining and nine ending unchanged. The Composite Index increased 3.12 points to 1,390.37, the All T&T Index rose 0.21 points to 1,901.58 and the Cross-Listed Index popped 0.87 points to settle at 118.18.
Grace Kennedy rallied 20 cents to $5.45 after trading 100 units. Guardian Holdings spiked $1.62 to $34.68 in trading 7,250 stocks, JMMB Group closed at $1.86, with 52,680 units clearing the market, Massy Holdings settled at $80 in switching ownership of 4,317 units. NCB Financial Group closed at $7.99 with the swapping of 3,000 units, One Caribbean Media ended at $4.51, with 742 stock units crossing the market, Prestige Holdings rose 22 cents to $6.99 in trading 425 units. Republic Financial Holdings ended at $135 with 1,023 shares changing hands, Scotiabank stayed at $57 after clearing the market with 3,132 units, Trinidad & Tobago NGL lost 50 cents in ending at $18 after trading 20,901 stock units. Unilever Caribbean rallied 8 cents in trading 13,200 units at $16.33 and West Indian Tobacco stayed at $32 in trading 575 stocks.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and three with lower offers.
Sterling Investments gained 19 cents to end at $3 in switching ownership of 15,954 stocks, Supreme Ventures advanced $1.74 to $19.39 with 37,373 stock units changing hands.
Only 13 securities traded compared to 15 on Tuesday, with two rising, three declining and eight closing unchanged. The Composite Index shed 4.21 points to end at 1,387.25, the All T&T Index lost 6.77 points to end at 1,901.37 and the Cross-Listed Index slipped 0.21 points to 117.31.
JMMB Group settled at $1.86 with 55,714 shares hanging hands, Massy Holdings closed at $80 with the swapping of 1,909 stocks, National Enterprises slipped 1 cent to $2.80 after 2,000 units crossed the exchange. NCB Financial Group ended at $7.99 with a transfer of 1,536 shares, One Caribbean Media dipped 14 cents to $4.51 in trading 820 stock units, Republic Financial Holdings remained at $135 with 455 units changing hands. Scotiabank closed at $57 with the swapping of 4,110 shares, Trinidad & Tobago NGL ended at $18.50 after exchanging 11,400 stock units and Unilever Caribbean gained 3 cents to close at $16.25 in switching ownership of 50 units.
Trading ended with 51 securities versus 52 on Monday, with 16 stocks rising, 25 declining and 10 remaining unchanged.
At the close, Barita Investments shed 55 cents ending at $82.40 in switching ownership of 30,405 shares, Caribbean Cement rose $1.20 to end at $95 with 14,582 stocks crossing the market, Eppley Caribbean Property Fund rallied $4 to $42 after exchanging 654 units, Grace Kennedy ended 55 cents lower at $99.45 with the swapping of 149,969 shares. Guardian Holdings declined $5.02 in closing at the lowest point since listing locally at $719.99 in exchanging 19,385 stocks, Jamaica Broilers rose $1 to $36 in trading 74,092 units, JMMB Group lost 25 cents to finish at $38.50 with the swapping of 1,337,495 shares, Kingston Properties rallied 32 cents to $10.07 in trading 150 stock units. Kingston Wharves fell $1.45 to $46.50 with 5,086 units changing hands, Mayberry Investments shed 40 cents to settle at $5.60 with the swapping of 1,408 stock units. NCB Financial declined $1.18 to $143.53 with 19,656 shares crossing the market, Pan Jam Investment spiked 60 cents to $68.60 in switching ownership of 8,581 shares. Portland JSX declined $1.32 to end at $8.18 with an exchange of 3,500 stocks, Proven Investments popped $1.45 to $36.48 in trading 12,686 stock units, Sagicor Group gained 55 cents to end at $63.05 in transferring 403,583 shares. 
Sagicor Real Estate Fund shed 48 cents in closing at $8.32 in an exchange of 5,008 stocks, Scotia Group rose 95 cents to $41.95 with 10,552 stocks crossing the market, Seprod closed 50 cents lower at $74.50 after exchanging 8,923 units and Supreme Ventures fell $1.85 to $17.65 in trading 79,972 stock units.
National Enterprises shed 19 cents to close at $2.81 in switching ownership of 14,820 units, National Flour Mills dropped 5 cents to $2.25 in trading 4,507 stock units, NCB Financial dropped 1 cent to close at $7.99 in an exchange of 43,484 shares, Prestige Holdings rose 2 cents to $6.77, with 1,320 units changing hands, Republic Financial Holdings dropped 10 cents to $135, with 2,040 shares crossing the market, Scotiabank closed at $57 in exchanging 2,556 stocks. Trinidad & Tobago NGL ended at $18.50, trading 2,000 shares and West Indian Tobacco declined 15 cents to $32, with an exchange of 17,750 stock units.
Trading ended with 52 securities compared to 56 on Friday, with 22 stocks rising, 26 declining and four remaining unchanged.
Trading averaged 126,379 units at $1,270,816, compared to 171,179 shares at $1,497,797 on Friday. Trading month to date averages 249,510 units at $4,445,708, in contrast to 258,696 units at $4,682,573 on Friday. May ended with an average of 439,937 units at $4,698,961.
Pan Jam Investment fell $1 to $68 after 13,115 shares crossed the market, Proven Investments fell $1.87 to $35.03 with 14,943 stock units changing hands, Sagicor Group slipped $1 to $62.50 in exchanging 47,781 shares after trading at a 52 weeks’ high of $68. Sagicor Real Estate Fund rose 48 cents to $8.80 in trading 1,742 units, Scotia Group shed $1 to end at $41 in switching ownership of 2,691 stocks. Seprod popped $1 higher at $75 in exchanging 10,899 stock units, Supreme Ventures declined $1.58 to $19.50 with a transfer of 248,201 shares and Sygnus Credit Investments gained 20 cents to close at $15.20 with 47,134 stock units crossing the market.