Price changes on the Trinidad and Tobago Stock Exchange on Friday were plenty after trading in 22 securities compared with 13 on Thursday, with six stocks rising, ten declining and six remaining unchanged with the volume of stocks traded declining 38 percent with the value falling 30 percent lower than on Thursday.
Investors traded 413,093 shares for $6,086,851 versus 666,325 stock units at $8,724,268 on Thursday.
An average of 18,777 units were traded at $276,675 versus 51,256 shares at $671,098 on Thursday, with trading month to date averaging 63,632 shares at $547,197 versus 68,018 units at $573,648 on the previous day. The average trade for October was 29,755 at $358,068.
The Composite Index dipped 9.43 points to 1,304.87, the All T&T Index lost 13.45 points to close at 1,962.93 and the Cross-Listed Index dipped 0.72 points to 84.08.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s advanced 1 cent to close at $43.01 in switching ownership of 100 shares, Angostura Holdings increased 14 cents to $23.25 while exchanging 480 stocks, Ansa McAl lost 13 cents in closing at $53.19, with 50 units crossing the market. Clico Investment Fund ended at $30 in trading 66,044 stock units, First Citizens Group remained at $50.01 with a transfer of 948 stocks, GraceKennedy shed 4 cents to end at $4.75, with 4,393 units clearing the market. Guardian Holdings fell 16 cents to end at $25.61 in an exchange of 1,100 stock units, JMMB Group declined 5 cents to $1.90, with 29,500 shares crossing the exchange, L.J. Williams B share climbed 5 cents to a 52 weeks’ high of $2.30 as investors exchanged 42 units. 
Massy Holdings gained 7 cents in closing at $4.42 after a transfer of 174,578 shares, National Enterprises dipped 4 cents to $3.21, with 2,584 stocks changing hands, National Flour Mills dipped 9 cents to end at $1.51 with trading in 300 shares. NCB Financial ended at $4.56 in exchanging 6,030 units, One Caribbean Media closed at $3.69 with the swapping of 50 stock units, Point Lisas shed 6 cents to close at $3.19, with 1,111 shares crossing the market. Prestige Holdings dipped 36 cents after ending at $5.90 after 5,000 stocks were exchanged, Republic Financial fell $3.99 to $136 trading 152 shares, Scotiabank ended at $77.80 with an exchange of 12,880 units. Trinidad & Tobago NGL rose 51 cents to end at $21.01 with 46,472 stock units passing through the market, Trinidad Cement dropped 32 cents to close at $3.60 with investors transferring 15,133 stocks, Unilever Caribbean popped 1 cent in ending at $13.02 after exchanging 700 stock units and West Indian Tobacco remained at $22 after an exchange of 45,446 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Several price changes on the Trinidad market
Trading drops on Trinidad Exchange
Trading dipped lower on the Trinidad and Tobago Stock Exchange on Thursday from yesterday’s level, with 42 percent less volume of stocks traded, with the value declining 72 percent compared with that on Wednesday and resulting in the trading of 13 securities down from 18 on Wednesday, with four stocks rising, four declining and five remaining unchanged.
Investors traded 666,325 shares for $8,724,268 down from 1,149,714 stock units at $30,724,911 on Wednesday.
An average of 51,256 units were exchanged at $671,098 compared to 63,873 shares at $1,706,940 on Wednesday. Trading month to date averages 68,018 shares at $573,648 compared to 69,046 units at $567,672 on the previous day. The average trade for October amounts to 29,755 at $358,068.
The Composite Index fell 3.33 points to 1,314.30, the All T&T Index dipped 0.63 points to 1,976.38 and the Cross-Listed Index declined 0.87 points to settle at 84.80.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Clico Investment Fund rallied 10 cents to close at $30 with a transfer of 110,995 shares, First Citizens Group advanced 1 cent to end at $50.01 in switching ownership of 368 units, GraceKennedy ended at $4.79 after 199 stock units were traded. Guardian Holdings climbed 16 cents to $25.77 after 9,039 stocks crossed the market, JMMB Group shed 2 cents in closing at $1.95 after exchanging 224 shares, 
Massy Holdings dipped 5 cents to $4.35 after trading 227,653 units. National Enterprises increased 4 cents to end at $3.25 after a transfer of 38,044 shares, National Flour Mills remained at $1.60 in an exchange of 280 stocks, NCB Financial dipped 14 cents to $4.56 while exchanging 89,000 shares. One Caribbean Media ended at $3.69 with 27,900 units changing hands, Scotiabank remained at $77.80 and closed after an exchange of 12,731 stock units, Trinidad & Tobago NGL dropped $1.47 to $20.50 with the swapping of 121,892 stocks and Trinidad Cement ended at $3.92 with an exchange of 28,000 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady trading in Trinidad
The Trinidad and Tobago Stock Exchange closed on Wednesday, following a 43 percent jump in value of stock traded but the volume of stocks traded dropped 88 percent, compared to Tuesday, resulting in trading in 18 securities from 19 on Tuesday, with four stocks rising, five declining and nine remaining unchanged.
Investors traded 1,149,714 shares for $30,724,911 versus 9,258,024 stock units at $21,560,275 on Tuesday.
An average of 63,873 shares were traded at $1,706,940 versus 487,264 units at $1,134,751 on Tuesday. Trading month to date averaged 69,046 shares at $567,672 compared with 69,526 units at $461,967 on the previous day. The average trade for October ended at 29,755 at $358,068.
The Composite Index rallied 1.52 points to 1,317.63, the All T&T Index increased 3.14 points to 1,977.01 and the Cross-Listed Index slipped 0.03 points to 85.67.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s fell 10 cents to $43 after 179 shares were traded, Ansa Merchant Bank remained at $42.20 with a transfer of 1,500 units, Calypso Macro Investment Fund rose 15 cents to close at a 52 weeks’ high of $22.15 in trading 30 stock units. Clico Investment Fund advanced $1.90 to $29.90 after 66,520 stocks changed hands, First Citizens Group ended at $50 in switching ownership of 476,856 shares, GraceKennedy dipped 1 cent in closing at $4.79 as investors exchanged 46 units. Guardian Holdings declined 14 cents to end at $25.61 after a transfer of 8,612 stock units, Massy Holdings remained at $4.40 in an exchange of 293,764 stocks, National Enterprises dipped 4 cents to close at $3.21, with 29,082 stock units crossing the market. 
National Flour Mills ended at $1.60 with 1,552 units clearing the market, One Caribbean Media shed 1 cent in ending at a 52 weeks’ low of $3.69 after exchanging 101,420 shares, Point Lisas closed at $3.25 after an exchange of 4,000 stocks. Republic Financial ended at $139.99 after 1,500 stock units passed through the market, Scotiabank remained at $77.80 after exchanging 15,740 shares, Trinidad & Tobago NGL ended at $21.97, with 45,022 stocks crossing the exchange. Trinidad Cement ended at $3.92 with an exchange of 100,075 units, Unilever Caribbean gained 4 cents in ending at $13.01 with 1,000 stock units changing hands and West Indian Tobacco rallied 11 cents to close at $22 with the swapping of 2,816 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
National Flour dominates Trinidad trading
Trading jumped sharply on the Trinidad and Tobago Stock Exchange on Tuesday, with a surge of 1,015 percent in the volume of stocks changing hands with the value rising just 8 percent more than on Monday as 8.5 million National Flour Mills shares were exchanged.
A total of 19 securities trading, down from 24 on Monday, with prices of 10 rising, three declining and six ended unchanged and resulting in gains for the overall market.
A total of 9,258,024 shares were traded for $21,560,069, up from 829,957 stock units at $20,056,906 on Monday. An average of 487,264 units were traded at $1,134,751 compared with 34,582 shares at $835,704 on Monday, with trading month to date averaging 69,526 shares at $461,967 versus 24,171 units at $388,922 on the previous day. The average trade for October was 29,755 at $358,068.
The Composite Index climbed 8.35 points to 1,316.11, the All T&T Index popped 8.64 points to 1,973.87 and the Cross-Listed Index gained 1.12 points to close at 85.70.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s gained 10 cents in closing at $43.10 with investors transferring five shares, Ansa McAl rose $1.32 to end at $53.32 after exchanging 50 stocks, Clico Investment Fund fell 50 cents to $28 with an exchange of 72,949 units. Endeavour Holdings ended at $7.10 after a transfer of 29 stock units, First Citizens Group declined 9 cents to close at $50 after trading 2,233 stock units, FirstCaribbean International Bank climbed 5 cents to $5.05, with 10,000 stocks changing hands. Guardian Holdings dipped 1 cent to close at $25.75 in exchanging 9,090 shares, JMMB Group remained at $1.97 after 7,733 units passed through the exchange, L.J. Williams B share remained at $2.25 with a transfer of 11,000 stock units. 
Massy Holdings popped 1 cent to $4.40 in trading 484,057 shares, National Enterprises ended at $3.25 while investors exchanged 10,000 stocks, National Flour Mills advanced 3 cents to close at $1.60, with 8,495,792 units crossing the market. NCB Financial climbed 14 cents to $4.70, after an exchange of 10,000 shares, One Caribbean Media ended at $3.70 with 29,468 units clearing the market, Point Lisas remained at $3.25 with trading of 30 stocks. Scotiabank popped $1.80 to end at $77.80 after 14,469 stock units crossed the market, Trinidad & Tobago NGL rallied 7 cents in closing at $21.97 after exchanging 45,083 stock units, Trinidad Cement increased 32 cents to close at $3.92 as investors exchanged 11,014 units and West Indian Tobacco gained 34 cents in ending at $21.89 with investors exchanging 45,022 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on Trinidad Exchange
Traders were active in 24 securities trading compared with 16 on Friday when trading ended on the Trinidad and Tobago Stock Exchange on Monday, leading to the volume of stocks traded rising 476 percent with a value that was 389 percent more than on Friday and resulting, in prices of seven stocks rising, seven declining and ten closing unchanged.
Investors exchanged 829,957 shares for $20,056,906 up from just 144,158 stock units at $4,099,979 on Friday. An average of 34,582 units were traded at $835,704 compared to 9,010 shares at $256,249 on Friday, with trading month to date averaging 24,171shares at $388,922 versus 22,517 units at $317,910 on the previous trading day. The average trade for October amounts to 29,755 at $358,068.
The Composite Index rose 2.17 points to 1,307.76, the All T&T Index popped 8.51 points to 1,965.23 and the Cross-Listed Index dipped 0.65 points to close at 84.58.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings rose 1 cent to end at $23.11 after 48,000 shares were traded, Ansa McAl declined $1.32 to close at $52, with 312 stocks crossing the market, Ansa Merchant Bank remained at $42.20 in an exchange of 30 units. Clico Investment Fund dropped 49 cents to $28.50, with 8,277 stock units crossing the exchange, Endeavour Holdings ended at $7.10 as 157 stocks passed through the market, First Citizens Group remained at $50.09 in switching ownership of 326,543 units. GraceKennedy ended at $4.80 after 49,972 shares crossed the market, Guardian Holdings fell 24 cents in closing at $25.76 with the swapping of 1,183 stock units, Guardian Media ended at $3 with investors transferring 360 stock units. 
JMMB Group climbed 2 cents to close at $1.97 after the exchanging of 121,505 stocks, L.J Williams B share popped 5 cents to $2.25 while trading 10,000 units, Massy Holdings lost 1 cent to $4.39 with a transfer of 69,713 shares. National Enterprises remained at $3.25 after trading 10,000 units, National Flour Mills dipped 6 cents to close at $1.57 with an exchange of 200 shares, NCB Financial shed 14 cents in closing at $4.56 as investors exchanged 157,460 stocks. One Caribbean Media remained at $3.70 after exchanging 40 stock units, Point Lisas advanced 19 cents to $3.25 in an exchange of three units, Prestige Holdings ended at $6.26, with 947 stocks changing hands. Republic Financial increased $4.99 to $139.99 finishing at 2,478 shares, Scotiabank gained 1 cent in closing at $76 in trading 1,303 stock units, Trinidad & Tobago NGL rallied 24 cents to $21.90, with 9,325 stocks clearing the market. Trinidad Cement ended at $3.60 after a transfer of 9,100 stock units, Unilever Caribbean dipped 92 cents to close at $12.97 with the swapping of 1,596 units and West Indian Tobacco remained at $21.55 with 1,453 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
PBS jumps ICTOP10 with 89% gain
Productive Business Solutions surged 45 percent to close at US$2 from US$1.38 at the close of the previous week and dropped out of the TOP10, having entered at the beginning of April at $1.06 and has now recorded a gain of 89 percent. Caribbean Assurance Brokers slipped out of the Junior Market TOP10 following a downgrade of earnings per share with the release of nine months’ results.
138 Student Living made it back in the Main Market TOP 10 following reporting strong full year results with the promise of more in 2023 as students return to on campus training and Medical Disposables returns to the Junior Market list.
The Junior Market had five top 10 stocks gaining between 4 percent and 14 percent, with two declining over five percent. The Main Market list had only two stocks gaining from 10 and 45 percent with five losses but with four ranging from 4 to 9 percent.
Notable price changes during the week include Lasco Distributors rising 14 percent to $3.10, General Accident and Lasco Financial popped 10 percent to close at $5.05 and $3, respectively, Elite Diagnostic was up 6 percent to $3.72 and Caribbean Cream rose 4 percent to $4. Caribbean Assurance Brokers lost 8 percent to close the week at $2.39, following the release of nine months results that rose 33 percent to 40 cents, with the crucial third quarter results being flat in contrast to solid growth in the first half of the year.
In the Main Market, Productive Business Solutions rose 45 percent during the week to $2, followed by Radio Jamaica, that jumped 10 percent to $2. VVM Investments dropped 9 percent to $4.39 while Caribbean Producers slipped 5 percent to $12.33, Berger Paints also dipped 5 percent and ended at$10.40 and Guardian Holdings fell 4 percent to $500.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 6.2 versus the market at 12.4, an important indicator of the level of undervaluation of the ICTOP10stocks. The Junior Market is projected to rise by 224 percent and the Main Market TOP10 an average now of 298 percent, to May 2023, following an upgrading of Guardian Holdings earnings per share to $173.50 from $92 previously.
The Junior Market has 14 ; stocks representing a third of the market, with PEs from 16 to 38, averaging22 compared with the above average of the market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the Main Market is similar, with the 15 highest valued stocks priced at a PE of 15 to 80, with an average of 28 and 24.3 excluding the highest valued one and 22.5 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Lasco Financial & 138SL now Stocks to Watch
Lasco Financial and 138 Student Living are added to the Stocks to Watch list following release results recently showing increasing profits over 2021, both stocks are on the ICInsider.com TOP10 list.
ICInsider.com watch list comprises Access Financial, Barita Investments, Caribbean Assurance Brokers, Consolidated Bakeries, Dolphin Cove, Caribbean Producers, Elite Diagnostic, Everything Fresh, General Accident, Guardian Holdings, Jamaica Broilers, Key Insurance, Knutsford Express, Lasco Distributors, Lasco Manufacturing, Medical Disposables, NCB Financial, One on One, Palace Amusement, Paramount Trading, Scotia Group, Stationery and Office Supplies and Wisynco Group
Major factors to consider going forward. The rebound in tourist arrivals only came to 2019 levels since June. Providing there are no reversals, then companies who are highly dependent on the sector will enjoy a big bounce for the next nine months compared to the lower business generated since last year to April this year. The same applies to the entertainment industry as the sector only opened up after March this year. Banks will make a fortune from increased interest rates.
Persons who compiled this report may have an interest in securities commented on.
Trinidad exchange slips Thursday
Stocks declining at the close of the Trinidad and Tobago Stock Exchange just edged out those rising on Thursday, with the volume traded falling 18 percent and the value 66 percent less than on Wednesday, resulting in 19 securities changing hands compared with 18 on Wednesday, with prices of seven rising, eight declining and four remaining unchanged.
Investors traded 626,048 shares for $6,368,761 compared with 762,497 units at $18,464,337 on Wednesday.
An average of 32,950 units were traded at $335,198 versus 42,361 shares at $1,025,797 on Wednesday, with trading month to date averaging 24,118 shares at $325,218 versus 22,671 units at $323,584 on the previous day. The average trade for October amounts to 29,755 at $358,068.
The Composite Index dipped 1.40 points to 1,303.49, the All T&T Index dropped 0.23 points to 1,956.96 and the Cross-Listed Index fell 0.37 points to 84.58.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s remained at $43 after exchanging 14 shares, Ansa McAl dipped 28 cents to $53.32, with 8,350 units crossing the market, CinemaOne declined 1 cent to $6.50 in switching ownership of 181 stock units. Clico Investment Fund ended at $28.99 after an exchange of 22,216 stocks, Endeavour Holdings remained at $7.10 as 343 stocks passed through the market, First Citizens Group dipped 1 cent to $50.09 in an exchange of 24 units. FirstCaribbean International Bank advanced 1 cent to end at a 52 weeks’ low of $5, with an exchange of 225,870 shares, GraceKennedy fell 10 cents to close at $4.80 while exchanging 5,763 stock units, JMMB Group lost 3 cents ending at $1.95, with 1,335 stocks changing hands. 
Massy Holdings popped 1 cent in closing at $4.40 in exchanging 275,090 shares, National Enterprises ended at $3.25 with a transfer of 38,661 units, National Flour Mills shed 1 cent to $1.63 with the swapping of 327 stock units. Prestige Holdings rose 6 cents in ending at $6.26 after trading 841 units, Republic Financial gained $3 in closing at $137 after the trading of 10,437 shares, Scotiabank increased $1.99 to $75.99 in exchanging 15,478 stocks. Trinidad & Tobago NGL fell 29 cents to $21.66 with investors transferring 5,000 stock units, Trinidad Cement climbed 4 cents to $3.59 after trading 11,000 units, Unilever Caribbean rallied 10 cents to end at $13 after 4,834 stock units crossed the market and West Indian Tobacco dipped 2 cents to close at a 52 weeks’ low of $21.65 with 284 stocks changing hands.
Prices of securities trading are those for the last transaction
Falling stocks hit JSE Main Market
Junior Market rose moderately on Tuesday, following gains on Monday but the Main Market suffered further by adding to Monday’s losses, leading the JSE Combined Market Index to fall 1,214.75 points to close at 360,073.82, with trading picking up over Monday’s outcome.
Guardian Holdings jumped $28.97 but was unable to hold off big losses in a series of stocks in the Main Market with nine falling by a dollar or more. The JSE Main Index fell 1,329.63 points to 345,693.08, the Junior Market Index popped 3.02 points to close at 4,097.36 points while the All Jamaica Composite Index lost 3,612.99 points to end at 393,037.27 and the JSE US dollar market lost 1.32 points to end at 209.40.
Trading ended, with 26,137,175 shares changing hands, for $152.3 million, versus $91.7 million, with 23,971,628 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded amounting to US$5,593 from US$29,031 on Monday.
The market’s PE ratio ended at 23.7 based on 2021-22 earnings and 12.6 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Stocks down on the Trinidad market
The Trinidad and Tobago Stock Exchange closed on Tuesday with the volume of stocks traded, declining 29 percent and the value down 21 percent compared to Monday, following trading in 20 securities up from 16 on Monday, with four stocks rising, nine declining and seven remaining unchanged.
Investors traded 423,395 shares for $3,027,575 versus 592,466 stock units at $3,826,054 on Monday. An average of 21,170 units were traded at $151,379 versus 37,029 shares at $239,128 on Monday, with trading month to date averaging 19,054 shares at $194,606 versus 18,512 units at $205,690 on the previous day. The average trade for October amounts to 29,755 at $358,068.
The Composite Index fell 14.60 points to 1,299.27, the All T&T Index slipped 4.50 points to 1,946.32 and the Cross-Listed Index shed 3.56 points to settle at 84.95.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $43 with investors transferring 2,280 shares, Angostura Holdings fell 65 cents in ending at $23.50, with an exchange of 11,563 units, Ansa McAl closed at $53 with a transfer of 1,137 stocks. Calypso Macro Investment Fund climbed $1.45 to $22, with 460 stock units clearing the market,CinemaOne ended at $5.98 with 657 stock units crossing the exchange, Clico Investment Fund lost $1 in ending at $28.50 after exchanging 3,587 stocks. First Citizens Group ended at $50.10, with 200 units changing hands, GraceKennedy declined 10 cents to $4.90 as 845 shares passed through the market, Guardian Holdings rallied 1 cent in closing at $25.52 after trading in 2,253 stocks. JMMB Group dropped 2 cents to $1.98 after 3,015 stock units crossed the market, Massy Holdings gained 4 cents to close at $4.44 with the swapping of 124,273 units, National Enterprises shed 1 cent in closing at $3.25 while investors exchanged 35,325 shares.
NCB Financial dipped 45 cents to end at $4.60 in trading 229,220 stocks, One Caribbean Media ended at $3.70 after a transfer of 500 stock units, Prestige Holdings fell 48 cents to $6.02 trading 1,126 shares. Financial advanced $5.58 to $137.60 with an exchange of 4,189 units, Scotiabank dropped $1.95 in closing at $74.05 in an exchange of 1,290 stocks, Trinidad & Tobago NGL shed 31 cents to end at $21.66 in trading 385 stock units. Unilever Caribbean ended at $12.90 after an exchange of 1,000 units and West Indian Tobacco remained at $21.70, with 90 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.