Declining stocks dominated market activity on the Trinidad and Tobago Stock Exchange on Wednesday, resulting from trading in 22 securities compared to 16 on Tuesday, with prices of only three rising, while 10 fell and nine remained unchanged as 56 percent more shares were traded than on Tuesday, with the value jumping 136 percent higher, with an exchange of 513,673 shares for $9,545,912 versus 328,773 units at $4,051,342 on Tuesday.
An average of 23,349 units were traded at $433,905 compared to 20,548 shares at $253,209 on Tuesday, with trading month to date averaging 45,696 units at $507,023 down from 47,594 units at $513,271 on the previous day. The average trade for August was 40,829 units at $378,385.
The Composite Index shed 2.96 points to end at 1,358.00, the All T&T Index fell 5.49 points to 2,019.73 and the Cross-Listed Index dipped 0.03 points to close at 90.98.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Ansa McAl shed 50 cents to close at $56.50 in switching ownership of 710 shares, Ansa Merchant Bank remained at $42.15 after trading 6,003 units, Calypso Macro Investment Fund popped $1.50 to $22 in an exchange of 1,434 stocks. CinemaOne dipped 82 cents in closing at $5.98, with 150 stock units crossing the market, Clico Investment Fund gained 60 cents to end at $30.10 with an exchange of 6,282 shares, First Citizens Group lost 49 cents to close at $50.01 with 57 stocks switching owners. FirstCaribbean International Bank ended at $5.08 with the swapping of 175 stock units, GraceKennedy ended at $5.30, with 100,220 units changing hands, Guardian Holdings advanced 50 cents to $26 with investors transferring 22 shares. JMMB Group dipped 3 cents to $2.30 after 205,804 units crossed the exchange, L.J. Williams B share remained at $2.20 with 20 stocks clearing the market, Massy Holdings declined 11 cents to $4.68 as investors exchanged 74,788 stock units.
National Enterprises fell 5 cents to end at $3.30 in trading 3,000 stock units, National Flour Mills ended at $1.40 and closed with 4,000 units changing hands, One Caribbean Media remained at $3.99 with a transfer of 30 shares. Point Lisas lost 2 cents in closing at $3.09 after a transfer of 575 stocks, Prestige Holdings ended at $3.09 after exchanging 3,707 units, Republic Financial Holdings dipped 50 cents to $140 after exchanging 35,760 shares. Scotiabank declined 60 cents to $78.40 in an exchange of 19,581 stocks, Trinidad & Tobago NGL remained at $22 trading 39,507 stock units, Unilever Caribbean fell 20 cents to end at $13.15 while exchanging 210 shares and West Indian Tobacco remained at $22.90 after a transfer of 11,638 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declining stocks pressure Trinidad market
Solid gains for TTSE
Market activity ended on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded diving 88 percent with the value 80 percent lower than on Monday, resulting in an exchange of 16 securities compared to 20 on Monday, with the prices of nine rising, four declining and three remaining unchanged.
A total of 328,773 shares were exchanged for $4,051,342 versus 2,857,109 units at $19,829,091 on Monday.
An average of 20,548 units were traded at $253,209 compared to 142,855 shares at $991,455 on Monday, and month to date an average of 47,594 units at $513,234 versus 49,375 units at $530,355 on the previous trading day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index popped 8.18 points to 1,360.96, the All T&T Index increased 14.63 points to 2,025.22 and the Cross-Listed Index climbed 0.18 points to 91.01.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s increased $1.65 in closing at $45.65 after trading 1,854 shares, Angostura Holdings rallied 50 cents to $25 with investors transferring 9,584 stocks, Ansa McAl ended at $57 while exchanging 10 stock units. Calypso Macro Investment Fund popped $1.24 to $20.50 with a transfer of 120 units, Clico Investment Fund lost 40 cents to end at $29.50 after exchanging 14,289 shares, First Citizens Group dropped 11 cents in closing at $50.50 in trading 23,056 stocks. FirstCaribbean International Bank advanced 3 cents to end at $5.08 as investors exchanged 2,420 units, GraceKennedy remained at $5.30, with 300 stock units changing hands, Guardian Holdings dipped 1 cent in ending at $25.50 switching ownership of 7,693 shares. 
JMMB Group rose 3 cents to $2.33 after 10 units crossed the market, Massy Holdings ended at $4.79 after an exchange of 253,632 stocks, National Enterprises popped 9 cents to $3.35 in an exchange of 489 stock units. One Caribbean Media gained 9 cents to close at $3.99, with 7 units crossing the exchange, Republic Financial Holdings increased 49 cents to end at $140.50 after 2,669 stocks changed hands, Scotiabank gained 60 cents in ending at $79after trading 1,390 shares and Trinidad & Tobago NGL dipped 10 cents to $22 after a transfer of 11,250 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Scotiabank gives back Friday’s gains
Trading remained elevated on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks exchanged rising 52 percent and the value dipping 41 percent lower than on Friday, resulting in 20 securities being traded compared to 21 previously, with prices of four stocks rising, nine declining and seven remaining unchanged with Scotiabank giving back the $10.60 it gained on Friday.
A total of 2,857,109 shares were exchanged for $19,829,091 versus 1,876,059 units at $33,392,953 on Friday.
An average of 142,855 units were traded at $991,455 compared to 89,336 shares at $1,590,141 on Friday. Trading month to date averaged 49,375 units at $530,328 versus 40,991 units at $489,001 on the previous trading day. The average trade for August amounted to 40,829 units at $378,385.
The Composite Index shed 11.46 points to end at 1,352.78, the All T&T Index dropped 19.07 points to 2,010.59 and the Cross-Listed Index declined 0.46 points to close at 90.83.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s dipped $1.65 to $44, with a mere one share being traded, Angostura Holdings declined 50 cents in closing at $24.50, with 4,404 units crossing the exchange, Ansa McAl ended at $57 after an exchange of 487 stocks. Ansa Merchant Bank remained at $42.15 with investors transferring 1,000 stock units, Clico Investment Fund lost 3 cents to end at $29.90 in exchanging 128 stocks, First Citizens Group gained 11 cents to end at $50.61 with 1,747 shares changing hands. FirstCaribbean International Bank fell 5 cents to $5.05 with a transfer of 252,071 units, investors traded 82 stock units of GraceKennedy at $5.30, Guardian Holdings rose 1 cent to $25.51, with 53,169 shares crossing the market. Guardian Media shed 1 cent to $3.09 in an exchange of 500 stocks, JMMB Group ended at $2.30 after trading 119,603 units, Massy Holdings remained at $4.79 in trading 2,262,583 stock units. 
National Enterprises dipped 9 cents to $3.26 after finishing trading 22,589 stock units, NCB Financial Group dipped 14 cents to $4.85, with 32,603 units changing hands, Prestige Holdings ended at $6.40, with 842 shares crossing the market. Republic Financial Holdings advanced 1 cent to $140.01 in trading 32,021 stocks, Scotiabank declined $10.60 to end at $78.40 after a transfer of 8,529 units, Trinidad & Tobago NGL popped 10 cents to $22.10 after trading 14,448 stocks. Trinidad Cement ended at $3.55 with the swapping of 37,190 stock units and West Indian Tobacco dipped 10 cents to $22.90 while exchanging 13,112 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Insurance companies join ICTOP10
Junior Market IC TOP10 stocks experienced a great deal of volatility in the past week but Main Market stocks were very stable, with minor price changes and resulted in two charges to listings with Iron Rock Insurance replacing Lasco Financial in the Junior Market, while Key Insurance in the main market replaced Radio Jamaica.
During the week in the Junior Market, Caribbean Cream jumped 18 percent to $4.70, Elite Diagnostic climbed 8 percent to $5.84, Lasco Financial rose 7 percent to $2.95 and Lasco Distributors gained 5 percent to $3.10. Caribbean Assurance Brokers declined 15 percent to $2.30, CAC 2000 dropped 14 percent to $6.90, Access Financial dipped 9 percent to $20 while General Accident fell 7 percent to $5.05.
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 13.4, while the Junior Market Top 10 PE is at 5.8 versus the market at 12.9, important indicators of the level of undervaluation of the ICTOP10 stocks.
The Junior Market is projected to rise by 251 percent and the Main Market TOP10 is projected to gain an average of 238 percent, by May 2023.
The Junior Market currently sells at an average PE around 13 but already there are 15 stocks or a third of the market, with PEs from 16 to 33 averaging 21. The top half of the market has an average PE of 18. This data shows how much potential gains reside in the top 10. The situation in the main market is very similar, with the 15 highest valued stocks priced at a PE of 15 to 84, averaging 25 and 21 excluding the highest valued one.
Currently, the Junior Market is slightly negative but is poised to move higher in the weeks ahead but the main market is under negative clouds that could send the market index lower as NCB Financial and other financial companies continue to trade with inadequate support.
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 and result 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.
Knutsford Express – a good stock to watch
Fresh from the release of positive full year results to May of $87 million or 16 cents per share, Knutsford Express is a new stock to watch. ICInsider.com projects earnings for the new fiscal year at 90 cents per share, with the stock trading at a PE of 8 compared to the Junior Market average of 13. The stock stands a good chance of more than doubling in the next year.
Knutsford Express
Main Event reported incredible third quarter results to July of 41 cents per share, with ICInsider.com projecting earnings for the full year at 45 cents per share and 90 cents for 2023, with the stock trading at a PE of 17 based on the current year’s estimate, but well that based on the year’s numbers.
Express Catering also released full year results that show continued recovery from last year’s fallout, with a profit of US$1.1 million, from a loss of US$1.73 million in 2021. In contrast, in the nine months to February, profit was just US$364,607, with only US$120,248 profit generated in the February quarter. ICInsider.com earnings per share are projected at Jamaica 50 cents resulting in a PE of 11.
Elite Diagnostic is added to the list with projected earnings of 55 cents per share at a PE of 6.5 at a stock price of $3.58 and Consolidated Bakery that had an excellent half year with the promise of a good second half to come.
ICInsider.com identifies the following for the watch list. Caribbean Assurance Brokers, Dolphin Cove, Caribbean Producers, Everything Fresh, General Accident, Guardian Holdings, Jamaica Broilers, Lasco Distributors, Lasco Manufacturing, NCB Financial, Stationery and Office Supplies, Paramount Trading and Scotia Group.
Dolphin Cove, Caribbean Producers and Express Catering will be major beneficiaries of the strong rebound in tourist arrivals and the supply of General Accident has declined sharply over the past few weeks, but investors may be reluctant to pile into the stock ahead of the hurricane season.
Persons who compiled this report may have an interest in securities commented on.
Scotiabank jumped TT$10.60 on Friday
Scotiabank jumped $10.60 to an all-time high of $89 after exchanging 301,858 units valued at $23.66 million after the bank reported a 13 percent rise in profit to TT$521 million for the nine months to July this year over 2021 at the same time, GraceKennedy traded 1.3 million shares, pushing market activity on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded rising 633 percent more and the value 469 percent more than on Thursday.
Scotiabank gained TT$10.60 on Friday.
Trading ended with an exchange of 21 securities compared to 17 on Thursday, with prices of eight rising, six declining and seven left unchanged after 1,876,059 shares were traded for $33,392,953, up from 255,936 units at $5,863,958 on Thursday.
An average of 89,336 units were traded at $1,590,141 compared to 15,055 shares at $344,939 on Thursday, with trading for the month to date averaging 40,991 units at $489,001 compared with 35,965 units at $374,526 on the previous day. Trading in August averaged 40,829 units at $378,385.
The Composite Index lost 0.54 points to close at 1,364.24, the All T&T Index declined 1.85 points to 2,029.66 and the Cross-Listed Index added 0.12 points to settle at 91.29.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Angostura Holdings ended at $25 in trading 20,000 shares, Ansa McAl lost $2 to end at $57 with 1,520 units changing hands, Clico Investment Fund rose 43 cents to $29.93, with 13,651 stocks crossing the exchange. Endeavour Holdings fell 50 cents to $7, with an exchange of 2,335 stock units, First Citizens Group shed 1 cent to end at $50.50 after swapping 369 units, GraceKennedy rallied 5 cents to $5.30 in switching ownership of 1,300,000 stocks. Guardian Holdings dipped 2 cents to $25.50 with investors transferring 735 shares, JMMB Group remained at $2.30 with an exchange of 117,400 stock units, L.J. Williams B share ended at $2.20 while exchanging 100 stocks.
Massy Holdings popped 2 cents to $4.79 in trading 2,603 shares, National Enterprises dropped 10 cents to close at $3.35, with 3,491 units clearing the market, National Flour Mills declined 18 cents in closing at $1.40 after exchanging 24,313 stock units. NCB Financial Group increased 4 cents to $4.99 in trading 30,691 units, Point Lisas popped 2 cents to $3.11 after a transfer of 2,861 shares, Prestige Holdings gained 40 cents to close at $6.40 with a transfer of 418 stock units. Republic Financial Holdings ended at $140 after trading 4,100 stocks, Trinidad & Tobago NGL rose 10 cents to close at $22 after 20,120 stocks crossed the market. Trinidad Cement ended at $3.55 after trading 20,000 shares, Unilever Caribbean remained at $13.35, with 1,066 stock units changing hands and West Indian Tobacco remained at $23 as investors exchanged 8,428 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading surged on Trinidad Exchange
Trading surged on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded rising 567 percent and the value jumping 295 percent more than on Monday, resulting in 19 securities traded compared to 20 on Monday, with prices of three rising, seven declining and nine remaining unchanged.
Investors spent $12,528,338 in trading 2,400,305 shares up from 359,821 units at $3,174,677 on Monday.
An average of 126,332 units were traded at $659,386 compared to 17,991 at $158,734 on Monday, with trading month to date averaging 40,014 units at $395,497 versus 29,081 units at $362,072 on the previous trading day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index fell 7.34 points to 1,363.53, the All T&T Index dropped 14.35 points to 2,028.08 and the Cross Listed Index rose 0.02 points to settle at 91.32
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s ended at $45.65 with the swapping of 297 shares, Angostura Holdings dropped $1.75 to $25 in exchanging 22,289 stocks, Ansa McAl fell $2 to $57 while exchanging 2,843 stock units. Clico Investment Fund remained at $30 as investors exchanged 47,490 units, First Citizens Group lost 24 cents in closing at $50.51 after exchanging 13,100 shares, FirstCaribbean International Bank increased 9 cents to $5.10, with 1,300 stock units crossing the market. GraceKennedy shed 4 cents to end at $5.29 with an exchange of 9,435 units, Guardian Holdings dipped 49 cents to close at $25.51, with 1,203 stocks clearing the market, JMMB Group declined 2 cents to $2.30 after 1,029,548 shares crossed the exchange. 
Massy Holdings advanced 7 cents to $4.80 after trading 1,178,160 stocks, National Enterprises ended at $3.40 with a transfer of 27,799 stock units, NCB Financial Group dipped 4 cents to close at $4.95 after trading 2,120 units. One Caribbean Media ended at $3.90 in trading 19,174 shares, Prestige Holdings ended at $6 with investors transferring 38 stocks, Republic Financial Holdings ended at $140 in exchanging 7,025 stock units. Scotiabank ended at $78.40 after a transfer of 345 units, Trinidad & Tobago NGL remained at $22 in switching ownership of 15,644 stock units, Trinidad Cement closed at $3.55, with 17,986 shares crossing the market and Unilever Caribbean climbed 11 cents in ending at $12.61, with 4,509 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trinidad market rises
Market activity ended on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded rising 55 percent and the value 38 percent lower than on Friday, resulting in 20 securities traded compared to 16 on Friday, with prices of nine rising, three declining and eight remaining unchanged.
Investors exchanged 359,821 shares for $3,174,677 compared to 232,055 units at $5,132,054 on Friday.
An average of 17,991 units were traded at $158,734 compared to 14,503 shares at $320,753 on Friday, with trading month to date averaging 29,081 units at $362,072 versus 30,787 units at $393,354 on the previous trading day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index advanced 2.86 points to 1,370.87, the All T&T Index increased 8.09 points to 2,042.43 and the Cross-Listed Index shed 0.38 points to settle at 91.30.
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 remained at $45.65 in trading 107 shares, Angostura Holdings advanced 25 cents to end at a 52 week’ high of $26.75 after exchanging 490 units, Ansa McAl increased $2 in ending at $59 with one stock unit clearing the market. Clico Investment Fund rose 2 cents in closing at $30 after trading 3,401 stocks, First Citizens Group climbed 13 cents to 50.75 after a transfer of 1,709 stocks, FirstCaribbean International Bank fell 9 cents in closing at $5.01 as investors exchanged 185,000 stock units. GraceKennedy ended at $5.33 with an exchange of 1,000 units, JMMB Group gained 2 cents after ending at $2.32, with 53,607 shares changing hands, L.J. Williams B share closed at $2.20 in exchanging 2 shares. Massy Holdings rallied 1 cent to end at $4.73 after trading 70,654 stocks, National Enterprises dipped 2 cents to $3.40 with investors transferring 9,870 stock units, 
National Flour Mills popped 1 cent to close at $1.60 with a transfer of 565 units. NCB Financial Group remained at $4.99 in an exchange of 1,000 shares, Prestige Holdings swapped 4,960 stocks at $6, Republic Financial Holdings remained at $140 in switching ownership of 8,066 units. Scotiabank advanced 40 cents to end at $78.40 with 25 stock units changing, Trinidad & Tobago NGL gained 15 cents to end at $22, with 15,619 shares crossing the market, Trinidad Cement remained at $3.55 while exchanging 2,161 stocks. Unilever Caribbean declined 11 cents in ending at $12.50, with 810 units crossing the exchange and West Indian Tobacco stayed at $23, with 774 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Access back is back in ICTOP10
Over the past two weeks, there are few changes in the IC TOP10 listings with Iron Rock Insurance replaced by Access Financial in the Junior Market, while there were no changes for the main market.
In the Junior Market, CAC 2000 surged 33 percent to $8 and Access Financial and dipped 6 percent to $22, Radio Jamaica fell 6 percent to $2.05, while Jamaica Broilers and Sygnus Credit Investments gained 4 percent.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.5, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.9, an important indicator of the level of undervaluation of the ICTOP10. The Junior Market is projected to rise by 245 percent and the Main Market TOP10 is projected to gain an average of 238 percent each, by May 2023.
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 to highlight winners from the rest, allowing investors to focus on potential winning 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.
Trading slides on Trinidad Exchange
The Trinidad and Tobago Stock Exchange closed on Friday, with the volume of stocks traded declining 78 percent, with an 82 percent lower value than on Thursday, following the trading of 16 securities compared to 17 on Thursday, with four stocks rising, eight declining and four remaining unchanged.
A total of 232,055 shares were exchanged for $5,132,054 down from 1,053,916 units at $27,974,973 on Thursday. An average of 14,503 units were traded at $320,753 compared to 61,995 shares at $1,645,587 on Thursday, with trading month to date averaging 30,787 units at $393,354 versus 33,073 units at $403,544 on the previous trading day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index fell 1.66 points to 1,368.01, the All T&T Index dropped 4.40 points to 2,034.34 and the Cross-Listed Index rose 0.18 points to 91.68
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s remained at $45.65, with 21 shares crossing the market, Ansa McAl stayed at $57 in exchanging 16,000 stocks, Calypso Macro Investment Fund dropped $2.74 to close at $19.26 with investors transferring 900 stock units. CinemaOne increased 82 cents to end at $6.80 after trading 12 units, Clico Investment Fund lost 1 cent after ending at $29.98 with an exchange of 525 shares, First Citizens Group dipped 38 cents in closing at $50.62 with 1,316 stocks changing hands. FirstCaribbean International Bank gained 5 cents to close at $5.10 in exchanging 4,629 stock units, GraceKennedy fell 2 cents to end at $5.33 with the swapping of 28,521 units, Guardian Holdings remained at $26 after trading 81,338 shares. 
Massy Holdings dipped 2 cents to $4.72, with 28,110 stocks clearing the market, National Enterprises rose 2 cents in closing at $3.42 as investors traded 328 stock units, Prestige Holdings popped 20 cents to end at $6 in switching ownership of two units. Scotiabank shed 40 cents to close at $78 after a transfer of 1,436 stocks, Trinidad & Tobago NGL lost 14 cents to $21.85 in an exchange of 600 stock units, Unilever Caribbean stayed at $12.61 in trading 250 shares and West Indian Tobacco dipped 40 cents to close at $23 with a transfer of 68,067 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.