Trading jumped sharply on the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded rising 103 percent, with the value surging 325 percent above that on Wednesday, resulting in 20 securities trading compared with 16 on Wednesday, with four stocks rising, ten declining and six remaining unchanged.
Investors traded 1,193,737 shares for $22,855,716 up from 587,943 stock units at $5,371,639 on Wednesday.
An average of 59,687 units were traded at $1,142,786 compared to 36,746 shares at $335,727 on Wednesday, with trading month to date averaging 31,475 shares at $383,138 versus 29,607 units at $332,830 on the previous day. The average trade for September amounts to 45,817 shares at $463,533.
The Composite Index shed 6.62 points to 1,316.89, the All T&T Index shed 8.38 points to end at 1,966.37 and the Cross-Listed Index fell 0.66 points to close at 87.06.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s climbed 99 cents in closing at $43 while exchanging 82 shares, Angostura Holdings shed 81 cents to close at $24.14 after trading 739,170 stocks, Ansa McAl remained at $53.80 after a transfer of 4 units. Calypso Macro Investment Fund ended at $22 as 1,313 stock units passed through the market, Clico Investment Fund declined 5 cents to $29.95 in an exchange of 49,647 stock units, First Citizens Group remained at $50.05 with investors transferring 4,008 stocks. FirstCaribbean International Bank ended at $5, with 2,756 shares clearing the market, GraceKennedy lost 20 cents to close at $5 with an exchange of 12,084 units, Guardian Holdings remained at $25.06 after 6,004 units crossed the exchange. 
Guardian Media dipped 4 cents to $3 as investors exchanged 2,500 shares, JMMB Group dropped 10 cents to end at $2 with the swapping of 48 stocks, Massy Holdings ended at $4.51, with 203,274 stock units changing hands. National Enterprises fell 11 cents to close at $3.15 with a transfer of 104,845 stock units, National Flour Mills declined 6 cents to $1.59 after 9,800 stocks crossed the market, Prestige Holdings dipped 15 cents to $6.50 in exchanging 564 shares. Republic Financial rallied 2 cents to $135.02 in trading 1,430 units, Scotiabank lost 4 cents to $77.85 in exchanging 6,686 shares, Trinidad & Tobago NGL advanced 35 cents in closing at $22.10 after 24,513 stock units passed through the exchange. Unilever Caribbean popped 2 cents to close at $12.82 after dealings in 393 stocks and West Indian Tobacco shed 45 cents after ending at a 52 weeks’ low of $21.55 in switching ownership of 24,616 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading surges on Trinidad Exchange
TTSE ekes out gains on Wednesday
Rising stocks edged out decliners on the Trinidad and Tobago Stock Exchange on Wednesday, with a fall in the volume and value of stocks traded declined 56 percent and 66 percent less than on Tuesday resulting in 16 securities traded compared with 23 on Tuesday, with four rising, three declining and nine remaining unchanged.
A total of 587,943 shares were exchanged for $5,371,639 down from 1,340,990 shares at $15,619,117 on Tuesday.
An average of 36,746 shares were traded at $335,727 versus 58,304 shares at $679,092 on Tuesday, with trading month to date averaging 29,607 shares at $332,830, up from 29,208 units at $332,668 on the previous day. Trading in September averaged 45,817 shares at $463,533.
The Composite Index rallied 2.06 points to 1,323.51, the All T&T Index popped 2.53 points to 1,974.75 and the Cross-Listed Index popped 0.22 points to settle at 87.72.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Clico Investment Fund popped 5 cents to $30 with the swapping of 49,524 shares, First Citizens Group rose 5 cents to end at $50.05 while exchanging 4,231 units, FirstCaribbean International Bank remained at $5 after dealings in 10,549 stock units. GraceKennedy ended at $5.20 as investors exchanged 115,773 stocks, Guardian Holdings dropped 4 cents to $25.06 after 11,851 stocks changed hands, JMMB Group climbed 20 cents to $2.10, with 927 units crossing the market. 
Massy Holdings remained at $4.51 with an exchange of 160,087 shares, National Enterprises ended at $3.26 after a transfer of 9,442 stock units, NCB Financial ended at $4.80 with investors transferring 41,904 units. Prestige Holdings rallied 5 cents to $6.65, with 5,000 stock units crossing the market, Republic Financial fell $4 to $135, with 565 stocks changing hands, Scotiabank ended at $77.89 in exchanging 6,420 shares. Trinidad & Tobago NGL shed 34 cents to close at $21.75, with 25,383 units clearing the market, Trinidad Cement remained at $3.50 in trading 141,465 stock units, Unilever Caribbean ended at $12.80 as 320 stocks passed through the market and West Indian Tobacco closed at $22 after exchanging 4,502 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Widespread declines on TTSE
Falling stocks dominated trading activity on the Trinidad and Tobago Stock Exchange on Tuesday, following investors dealing in 23 securities up from 19 on Friday, following the market’s closing on Monday, with the observance of a public holiday. At the close, two stocks rose, ten declined and 11 remained unchanged, flowing from a 13 percent fall in the volume of stocks traded, with a 71 percent higher value than on Friday.
A total of 1,340,990 shares were exchanged for $15,619,117 versus 1,540,645 units at $9,131,764 on Friday.
An average of 58,304 units were traded at $679,092 compared with 81,087 shares at $480,619 on Friday, with trading month to date averaging 29,208 shares at $332,668 versus 26,663 units at $302,372 on the previous day. The average trade for September amounts to 45,817 at $463,533
The Composite Index dipped 12.83 points to 1,321.45, the All T&T Index dropped 20.52 points to 1,972.22 and the Cross-Listed Index shed 0.64 points to settle at 87.50.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s fell 7 cents to end at $42.01 with investors transferring 140 shares, Angostura Holdings dipped 5 cents to $24.95 in switching ownership of 138 stock units, Ansa McAl lost $2.65 in closing at $53.80 after an exchange of 2,018 stocks. Ansa Merchant Bank ended at $42.20 after a transfer of 250 units, Calypso Macro Investment Fund remained at $22, with 678 shares changing hands, CinemaOne remained at $5.98 in trading 165 units. Clico Investment Fund advanced 45 cents to close at $29.95, with 50,365 stock units crossing the exchange, First Citizens Group dropped 5 cents to $50 as investors exchanged 112,461 stocks, FirstCaribbean International Bank shed 1 cent to close at $5 after trading 7,520 stock units. 
GraceKennedy ended at $5.20 after investors ended dealings in 55,489 shares, Guardian Holdings ended at $25.10 after 18,843 stocks passed through the market, Guardian Media remained at $3.04 after trades in 30 units. JMMB Group declined 12 cents to $1.90, with 80,000 units crossing the market, Massy Holdings rallied 1 cent to $4.51 in an exchange of 909,811 stocks, National Enterprises dropped 1 cent to $3.26, with 5,030 shares clearing the market. One Caribbean Media declined 10 cents to end at a 52 weeks’ low of $3.80 with an exchange of 25,500 stock units, Prestige Holdings lost 5 cents to close at $6.60 after trading 195 shares, Republic Financial Holdings ended at $139 with the swapping of 2,568 stocks. Scotiabank remained at $77.89 while exchanging 6,758 stock units, Trinidad & Tobago NGL remained at $22.09 with a transfer of 25,568 units, Trinidad Cement ended at $3.50 in exchanging 2,356 units. Unilever Caribbean shed 5 cents to close at $12.80 with 314 stocks crossing the market and West Indian Tobacco ended at $22 in exchanging 4,793 stock units.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ drops to 3rd on Main Market TOP10
In a week when Junior Market made a modest move higher, the Main Market closed lower, and resulted in no new entrants into the IC top 10 lists, in a week when three stocks gained 10 percent or more and one with a 6 percent increase, with no significant declines.
Price changes worth noting include, Medical Disposables with a 12 percent rise to $5.79, Paramount Trading up 10 percent to $2.04 and Caribbean Assurance Brokers rising 6 percent to close the week at $2.59 in the Junior Market and Caribbean Producers gaining 11 percent to close the week at $13.93, to move from number one spot last week to third this week and Key Insurance rising 4 percent to $3.64 in the Main Market. Caribbean Cream earnings per share were reduced to 70 cents for the year to February from 80 cents previously.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.7. At the same time, the Junior MarketTop 10 PE sits at 5.8 versus the market at 12.5, essential indicators of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main Market TOP10 by an average of 247 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 15 to 36, averaging 21 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 16 to 78, with an average of 26 and 22 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
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.
Dolla & OneonOne added to Stocks to Watch
Caribbean Producers gained 11 percent in the past week and slipped to the number 3 spot in ICInsider.com top 10 Buy Rated stocks list. Knutsford Express climbed to a 52 weeks’ high of $9.50 during the week but closed at $8 on Friday and Paramount Trading 10 percent to $2.04.
Caribbean Producers
Dolla Financial and One on One are added to the list this week. Although the nine months’ results for Dolla Financial show only 7 cents per share earnings, ICInsider.com expects the company to post a robust fourth quarter to push earnings to 20 cents per share. There are two points of note about the results. They were constrained by cash to increase loans much beyond what they did, but the $1.5 billion bond raise will alleviate this constraint, the troubling issue is that while Interest Income amounted to $453 million for the nine months, they only collected $367 million, a sharp variation from previous periods when the vast majority was contained within the period.
One on One full year results are due soon and it will be interesting to see if they beat the projections they gave at the time of the initial public offer. Regardless, the price is back at $1.50, in line with the lower end of the range ICInsider.com suggested at the time of the IPO. The company projected revenues to hit $334 million by the end of the financial year to August with pretax profits of $105 million, equating to pretax earnings per share of 7 cents. The earnings work out at a PE ratio of 21, just well above the market average of 12.6, but profits going forward for the new fiscal year could result in a fall in the Ratio.
ICInsider.com watch list comprises now Access Financial, Barita Investments, Caribbean Assurance Brokers, Consolidated Bakers, Dolphin Cove, Caribbean Producers, Elite Diagnostic, Everything Fresh, General Accident, Guardian Holdings, Jamaica Broilers, Key Insurance, Knutsford Express, Lasco Distributors, Lasco Manufacturing, NCB Financial, One on One, Paramount Trading, Scotia Group and Stationery and Office Supplies.
Street News has it that Stationery and Office Supplies continues to churn out record revenues and profits during the third quarter of the year. The company is now subject to taxation at 50 percent of the regular rate for the final five months of the year, having been listed for five years to August, accordingly, ICinsider.com revised the forecast for 2022 to $1.35 from $1.50. The company should report nine months’ results around November 11.
Significant factors to consider going forward. Based on recent releases Caribbean Assurance Brokers should be releasing nine months’ results this coming week to reflect record earnings, which could move the stock price. The same goes for Lasco Distributors and Lasco Manufacturing. The rebound in tourist arrivals only came back to 2019 levels since June. Providing there are no reversals, companies highly dependent on the sector will enjoy a big bounce for the next nine months compared to the lower business generated from last year to April this year. The same applies to the entertainment industry,y 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.
Trading gains for Trinidad Exchange
Investors were more active in trading on the Trinidad and Tobago Stock Exchange on Friday, pushing the volume of stocks traded up by 318 percent with a 121 percent increased value over Thursday and resulting in 19 securities traded compared with 21 on Thursday, with seven stocks rising, six declining and six remaining unchanged.
A total of 1,540,645 shares were traded for $9,131,764 compared to 368,390 stock units at $4,141,230 on Thursday.
An average of 81,087 units were traded at $480,619 compared to 17,542 shares at $196,701 on Thursday, with trading month to date averaging 26,663 shares at $302,372 versus 22,425 units at $288,492 on the previous day. The average trade for September amounts to 45,817 at $463,533.
The Composite Index declined 1.82 points to 1,334.28, the All T&T Index fell 3.43 points to 1,992.74 and the Cross-Listed Index dipped 0.01 points to settle at 88.14.
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 shed 2 cents after ending at $42.08, with ten shares crossing the exchange, Angostura Holdings rallied 5 cents in closing at $25 after 1,436 units crossed the market, Ansa McAl declined 5 cents to close at $56.45 in an exchange of two stock units. Clico Investment Fund remained at $29.50 after exchanging 24 stocks, FirstCaribbean International Bank popped 1 cent to $5.01, with 813,000 stock units changing hands, GraceKennedy ended at $5.20, with 89,698 stocks clearing the market. Guardian Holdings popped 4 cents to close at $25.10 while exchanging two shares, Guardian Media lost 6 cents to end at $3.04 as 15,815 units passed through the market, L.J. Williams B share climbed 1 cent in closing at $2.05 after trading 200 shares. 
Massy Holdings ended at $4.50 as investors exchanged 508,515 units, National Enterprises gained 11 cents after ending at $3.27 in exchanging 5,355 stocks, National Flour Mills advanced 6 cents to $1.65 in switching ownership of 2,839 stock units. Prestige Holdings remained at $6.65 with a transfer of 10,000 shares, Republic Financial Holdings ended at $139 after a transfer of 1,083 stock units, Scotiabank dipped 1 cent in closing at $77.89 with the swapping of 263 stocks. Trinidad & Tobago NGL rose 4 cents to $22.09 with an exchange of 224 units, Trinidad Cement remained at $3.50 and closed with 4,000 stock units changing hands, Unilever Caribbean dropped 15 cents to close at $12.85 in trading 100 shares and West Indian Tobacco fell 25 cents to end at a 52 weeks’ low of $22 in exchanging 88,079 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling prices dominate Trinidad Exchange
Falling prices dominated the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks changing hands rising 144 percent and the value climbing 48 percent more than on Monday, resulting in 20 securities trading up from 17 on Monday, with three stocks rising, eight declining and nine remaining unchanged.
A total of 494,611 shares were traded for $6,758,165 versus 202,722 shares at $4,553,220 on Monday.
An average of 24,731 shares were exchanged at $337,908 compared with 11,925 shares at $267,836 on Monday and trading month to date averaged 21,012 shares at $295,685 versus 20,610 units at $291,120 on the previous day. September ended with an average of 45,817 at $463,533.
The Composite Index dipped 7.00 points to 1,335.03, the All T&T Index fell 1.22 points to 2,000.32 and the Cross-Listed Index lost 1.84 points to settle at 87.22.
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 fell $1.50 to $42.50 with an exchange of 1,196 shares, Angostura Holdings gained 1 cent to end at $24.96 as investors exchanged 500 units, Ansa McAl ended at $56.50 after trading just two stock units. Ansa Merchant Bank remained at $42.20 with investors transferring 816 stocks, Calypso Macro Investment Fund ended at $22 with an exchange of 17 shares, Clico Investment Fund lost 10 cents to close at $29.90, with 12,022 units crossing the market. Endeavour Holdings popped 60 cents in closing at $7.60 after exchanging 214 stocks, First Citizens Group rose 5 cents to $50.05 with the swapping of 4,963 stock units, FirstCaribbean International Bank remained at $5 as 37 stocks passed through the market.
GraceKennedy ended at $5.20 after 40,217 units changed hands, Guardian Holdings remained at $25.05, with 594 shares clearing the market, JMMB Group dropped 2 cents to $2 in exchanging 70,000 stock units. Massy Holdings shed 4 cents in closing at $4.45 after a transfer of 263,478 units, National Enterprises declined 2 cents to $3.28 in trading 32,035 stock units, NCB Financial Group remained at $4.98 in switching owners of 13,915 stocks. Republic Financial Holdings ended at $140 while exchanging 13,389 shares, Scotiabank dipped 1 cent to $78 in trading 27,966 shares, Trinidad & Tobago NGL fell 40 cents to $22.10 with a transfer of 8,250 stock units. Unilever Caribbean lost 20 cents in closing at $12.80, with 2,000 stocks crossing the market and West Indian Tobacco ended at $22.25, with an exchange of 3,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on Trinidad Exchange
The volume and value of stocks traded declined sharply to commence the week as market activity ended on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded declining 53 percent with the value 66 percent lower than on Friday and resulted in the trading of 7 securities compared with 19 on Friday, with two stocks rising, four declining and 11 remaining unchanged.
A total of 202,722 shares were exchanged for $4,553,220 down from 431,272 shares at $13,264,598 on Friday. An average of 11,925 units traded at $267,836 compared to 22,699 shares at $698,137 on Friday, with trading month to date averaging 20,610 shares at $291,120 down from 21,488 units at $293,476 on the previous trading day. The average trade for September amounts to 45,817 at $463,533.
The Composite Index rallied 6.24 points to 1,342.03, the All T&T Index climbed 0.56 points to 2,001.54 and the Cross-Listed Index advanced 1.72 points to settle at 89.06.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Angostura Holdings ended at $24.95 after trading 8,902 shares, Clico Investment Fund remained at $30 with the swapping of 32,476 stocks, First Citizens Group remained at $50 in switching ownership of 550 stock units. FirstCaribbean International Bank ended at $5 with 12,031 units clearing the market, GraceKennedy remained at $5.20 with an exchange of 45,777 stock units, Guardian Holdings declined 15 cents in ending at $25.05, as12,605 shares passed through the market.
JMMB Group ended at $2.02 with a transfer of 11,450 stocks, Massy Holdings dipped 1 cent to end at $4.49 with 36,090 units crossing the market, National Enterprises inched 1 cent higher to close at $3.30 in an exchange of 18,424 shares. National Flour Mills ended at $1.59, with ten units crossing the exchange, NCB Financial Group gained 23 cents to close at $4.98 after 1,045 stock units changed hands, Prestige Holdings ended at $6.70 after an exchange of 51 stocks. Republic Financial Holdings shed 4 cents to close at $140 in trading 16,235 stocks, Scotiabank remained at $78.01 after an exchange of 774 stock units, Trinidad & Tobago NGL ended at $22.50 in trading 4,447 shares. Unilever Caribbean dipped 4 cents to $13 as investors exchanged 700 units and West Indian Tobacco remained at $22.25 while trading 1,155 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks to Watch backed by strong results
Recent release of company results this past week confirms they are on the stocks to watch list, with Caribbean Producers reporting J$1.05 in earnings per share for the year to June, with tourism traffic at just 78 percent of 2019 for the 12 months to June this year.
Knutsford Express reported 17 cents per share and seems set to reach IC insider.com’s forecast of $1 per share for the current fiscal year and Paramount Trading, with earnings per share of 5.4 cents for the August quarter, is seemingly poised to reach our forecast of 30 cents per share for the fiscal year ending May 2023.
ICInsider.com watch list now comprises Access Financial, Barita Investments, which may be overvalued currently, but it’s a favourate of many investors, 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, NCB Financial, Stationery and Office Supplies, Paramount Trading, now back in ICInsider.com TOP10 and Scotia Group.
Paramount
Significant factors to consider going forward. The rebound in tourist arrivals only came back to 2019 levels since June, with September around 17 percent higher. Providing there are no reversals, companies highly dependent on the sector will enjoy a sizable bounce for the next nine months compared to the lower business generated from last year to April this year. Banks will profit from increased interest rates, and insurance companies will enjoy increased interest revenues. The same applies to the entertainment industry, as the sector only opened up after March this year.
Persons who compiled this report may have an interest in securities commented on.
CPJ jumps to top ICTOP10 Main Market
In a week when markets closed lower, there were two changes to the IC top 10 lists, with Jetcon Corporation and Lasco Manufacturing falling out and Iron Rock Insurance and Paramount Trading returning as Caribbean Producers surged to the top of the Main Market ICTOP10, following the release of record full year results, with earnings of 6.8 US cents per share or approximately J$1.05, with a projection off J$2.75 for the fiscal year ending June 2023.
Price changes in both markets were relatively small, with Jetcon Corporation gaining 4 percent to close the week at $1.10, while Caribbean Cream declined 6 percent to $4.06 and Dolphin Cove fell by 4 percent to $13. In the Main Market, Sygnus Credit Investments lost 5 percent to end at $13.40, the only noticeable change.
At the end of the week, the average PE for the JSE Main Market TOP10 is 6.2, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.6 versus the market at 12.7, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 263 percent, and the Main Market TOP10 projected to gain an average of 250 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 16 to 37, averaging 21 compared with the above-average 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 25 and 21 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
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 gains are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.