Stocks make a decisive move in trading on Tuesday, leading to a rise in the market after investors traded 158 percent shares more shares, with a 97 percent higher value than on Monday, resulting in the market indices spiking at the close of the Trinidad and Tobago Stock Exchange.
Guardian Holdings hit a 52 weeks’ high of $35.25 on Tuesday.
At the close, 16 traded down from 22 on Monday, with six stocks rising, three declining and seven remaining unchanged, including two stocks that closed at 52 weeks’ highs. The Composite Index climbed 5.84 points to 1,390.05, the All T&T Index spiked 11.66 points to settle at 1,906.19 and the Cross-Listed Index shed 0.05 points to settle at 117.40.
trading resulted in 1,518,373 shares changing hands for $15,536,855, up from 589,528 units at $7,802,660 on Monday.
Trading averaged 94,898 units at $971,053 compared to 26,797 at $358,303 on Monday. The average trade for the month to date amounts to 53,800 units at $798,498 versus 49,999 units at $782,540. The average trade for May amounts to 25,935 units at $406,593.
The Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s traded 7,031 shares at $24.50, Angostura Holdings increased by 25 cents to $15.25 while exchanging 174 stocks, Ansa Merchant Bank fell 50 cents to $41 after trading 5,292 units, Calypso Macro Investment Fund remained at $16, with 565 units crossing the market, Clico Investment Fund traded 13,761 units at $26.99. FirstCaribbean International Bank remained at $6.50, with 1,000 shares crossing the market, Grace Kennedy gained 20 cents ending at $5.25 with the swapping of 935,964 stock units, Guardian Holdings gained 28 cents in closing at a 52 weeks’ high of $35.25 after the switching of 144,372 shares. 
JMMB Group fell 6 cents to close at $1.74, with 293,278 stocks clearing the market, Massy Holdings surged $4 to a 52 weeks’ high of $80, trading 25,023 shares, National Enterprises settled at $3, with 34,530 shares crossing the market. Prestige Holdings rose 44 cents to close at $6.99 with an exchange of 28 shares, Scotiabank ended at $57, with 27,801 units changing hands, Trinidad & TobagoNGL climbed 14 cents to $18.10 after exchanging 22,652 stock units. Unilever Caribbean ended at $16.33 in trading 1,574 units and West Indian Tobacco fell 4 cents to close at $32.11 with the swapping of 5,328 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The move pushes the Junior Market up, as it has now decisively broken through the resistance point around 3,300 level.
Investor’s Choice bid-offer indicator closed with a strong signal of 14 stocks ending with bids higher than their last selling prices and four closing lower offers, an indication that Tuesday’s trading should see a continuation of the current market rally. At the close of trading, the All Jamaican Composite Index pushed 2,871.41 points higher to 462,144.64 to now sit just above resistance level which now provides support for the market. The JSE Main Index rose 2,511.04 points to end at 428,931.65 and the JSE Financial Index inched 0.91 points higher to 106.56.
Trading ended with a 14 percent rise in the volume of stocks traded, with a 61 percent lower value than Friday, after 13,855,601 shares traded for $248,441,964 versus 12,127,180 units at $631,548,664 on Friday. Mayberry Jamaican Equities led trading with 26 percent of total volume for 3.61 million shares followed by Wigton Windfarm with 13.4 percent after an exchange of 1.85 million units, Transjamaican Highway accounted for 8.7 percent with 1.20 million units traded, Sagicor Select Financial Fund held to 8.6 percent after an exchange of 1.19 million units, Sagicor Select Manufacturing & Distribution Fund pulled out 8.3 percent with 1.15 million units and QWI Investments delivered 8.1 percent after trading 1.12 million units.
Proven Investments shed $1.94 in closing at $35.06, with 44,622 stocks crossing the market, Sagicor Group slipped $2 to $55 with 248,968 shares clearing the market. Salada Foods climbed 45 cents to $8.28 with 113,932 stock units crossing the exchange, Scotia Group jumped $1.44 to $41 in an exchange of 3,994 units, Seprod shed 99 cents to close at $74 with the transfer of 173,855 shares. Sterling Investments dipped 25 cents to $2.80 in switching ownership of 220,000 stock units, Supreme Ventures spiked 50 cents to close at $21 after clearing the market of 336,556 stock units, Sygnus Credit Investments ended 24 cents lower at $15.06 in an exchange of 256,748 units.
National Flour Mills dropped 4 cents to $2.26, with 10,000 stocks changing hands, NCB Financial Group fell 26 cents to $8 in trading 159,250 units, One Caribbean Media settled at $4.65 while 6,027 units changed hands. Point Lisas ended at $3.10 in exchanging 2,000 shares, Republic Financial Holdings traded 5,474 stock units to close at $135, Scotiabank ended at $57, with 13,301 shares changing hands. Trinidad & Tobago NGL advanced 11 cents to $17.96 while exchanging 19,085 stock units, Trinidad Cement slipped 5 cents to $3.25, with 7,000 stock units clearing the market, Unilever Caribbean ended at $16.33, with 2,300 shares changing hands and West Indian Tobacco fell 4 cents to $32.15 with the swapping of 10,326 units.
Other than Jetcon, prices of other TOP10 stocks had notable increases during the past week; these include; Jamaica Broilers and Grace Kennedy from the main market but Radio Jamaica, PanJam and Scotia Group prices took hits. In the Junior Market, Caribbean Cream, Access and Stationery and Office Supplies had nice gains resulted in the average gains projected slipping from 216 percent last week to 210 percent. The average projected gains for the Main Market stocks inched up last week from 169 to 170 percent.
The JSE All Jamaica Composite Index hit 466,915.58 points during the morning session on Friday, before closing lower at 459,273.23, up from 456,395.73, at the close of the previous week, as the market continues to wrestle with resistance.
This week’s focus: Access Financial Services came out with full year results that reflected increased lending and EPS of 50 cents in the March quarter. ICInsider.com upgraded earnings to just under $3 per share for the current fiscal year. Scotia Group also reported results for the six months to April, with a 12 percent rise in profit for the April quarter over the 2020 same quarter and an 11.4 percent rise for the six months results. The big negative is that the loan portfolio continued its decline into the April quarter. ICInsider.com now projects 2021 earnings at $4 per share.
The targeted PE ratio for the market averages 20 based on companies’ profits reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market.
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, resulting in periodic movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
At the close, the JSE Main Index fell 749.88 points to end at 426,420.61 and the JSE Financial Index slipped 0.09 points to 105.65.
Trading averaged 247,493 units at $12,888,748, compared to 193,417 shares at $3,594,165 on Thursday. Trading month to date averages 233,635 units at $5,124,111, in contrast to 231,890 units at $4,146,046 on Thursday. May ended with an average of 439,937 units at $4,698,961.
Sagicor Group spiked $3 to $57 after 526,416 shares cleared the market. Scotia Group fell 44 cents to close at $39.56, with 124,591 stocks changing hands. Seprod rose 99 cents to $74.99 after exchanging 57,110 stock units, Supreme Ventures gained 50 cents to close at $20.50 after trading 214,253 units and Wisynco Group shed 55 cents to end at $15.40 with 244,402 stock units changing hands.
At the close, the Composite Index fell 4.65 points to 1,388.12, the All T&T Index dipped 5.11 points to 1,887.97 and the Cross-Listed Index fell 0.58 points to settle at 119.57.
National Enterprises traded 9,000 shares at $3, National Flour Mills exchanged 804 stocks at $2.30, NCB Financial Group popped 1 cent to $8.26 in trading 14,587 shares. One Caribbean Media increased 5 cents to $4.65 while exchanging 213 stocks, Republic Financial Holdings traded 101,812 stock units at $135, Scotiabank settled at $57 while trading 28,782 stock units. Trinidad & Tobago NGL shed 15 cents to close at $17.85 in switching ownership of 31,159 stock units, Trinidad Cement increased 5 cents to close at $3.30 after an exchange of 33,310 stocks and West Indian Tobacco ended at $32.19 in trading 6,076 stocks.
Securities trading surged to 53 from 48 on Wednesday, with 29 rising, 18 declining and six ending unchanged. At the close, the JSE Main Index advanced 3,640.24 points to end at 427,170.49 and the JSE Financial Index gained 0.76 points to 105.74.
Trading averaged 193,417 units at $3,594,165, compared to 234,498 shares at $4,350,058 on Wednesday. Trading month to date averages 231,890 units at $4,146,046, in contrast to 237,958 units at $4,233,099 on Wednesday. May closed with an average of 439,937 units at $4,698,961.
Scotia Group shed $1 in ending at $40 after an exchange of 2,042,868 shares, Seprod shed 95 cents to close at $74 with 17,290 units changing hands, Stanley Motta rose 45 cents to $6.45 with 100 stock units crossing the market, Sygnus Credit Investments climbed 30 cents to $15.30 in exchanging 1,103,967 shares and Wisynco Group gained 60 cents to close at $15.95 with a transfer of 33,016 stock units.
Grace Kennedy traded 290 units at $5.25, Guardian Holdings dropped $1.50 to $33.50 with the swapping of 222,908 shares, JMMB Group shed 1 cent in closing at $1.81 in an exchange of 370,944 stock units. L.J Williams B share closed at $1.35 with an exchange of 5 shares, Massy Holdings spiked $1.25 to close at $74.75 in exchanging 4,950 shares, National Enterprises traded 5,645 stocks at $3. Point Lisas remained at $3.10, with 17,000 units changing hands, Republic Financial Holdings popped 75 cents to $135 after 18,312 stocks crossed the market, Scotiabank rallied 10 cents to $57, with 51,878 shares changing hands. Trinidad & Tobago NGL advanced 50 cents to $18 while exchanging 55,823 stock units, Unilever Caribbean ended at $16.33 with the swapping of 2,950 units and West Indian Tobacco gained 5 cents to close at $32.19 in exchanging 3,076 stocks.
At the close, the All Jamaican Composite Index dropped 1,444.91 points to finish at 456,233.10, the JSE Main Index shed 1,246.35 points to end at 423,530.25 and the JSE Financial Index slipped 0.50 points to 104.98.
Trading averaged 234,498 units at $4,350,058, versus 251,952 shares at $3,318,266 on Tuesday. Trading month to date averages 237,958 units at $4,233,099, in contrast to 238,535 units at $4,213,605 on Tuesday. May ended with an average of 439,937 units at $4,698,961.
PanJam Investment fell 99 cents to $67.01 trading 22,843 stocks, Proven Investments shed $1 in closing at $36 after a transfer of 701,801 shares, Sagicor Group rose 70 cents to $52.75 with 323,788 shares crossing the market. Sagicor Real Estate Fund popped 64 cents to $8.99 with the swapping of 294 stock units, Scotia Group shed 55 cents to close at $41 in exchanging 78,321 units. Seprod rallied $1.93 to $74.95 in trading 101,870 shares and Supreme Ventures declined 99 cents to $19.91 with an exchange of 75,612 stock units.