Market activity ended on Thursday and resulted in more stocks rising than falling at the close of trading, but the market ended with the indices turning mixed results after the volume trading jumped 112 percent, with a 26 percent higher value than on Wednesday, at the close of the Trinidad and Tobago Stock Exchange.
Trinidad & Tobago Stock Exchange Head Quarters
A total of 20 securities traded up from 18 on Wednesday, with seven rising, four declining and nine ending unchanged. The Composite Index gained 11.41 points to settle at 1,466.18 the All T&T Index dropped 12.62 points to settle at 2,094.73 and the Cross-Listed Index climbed 5.20 points to settle at 111.13.
Overall 842,830 shares traded for $7,505,068 compared to 397,112 units at $5,937,284 on Wednesday. An average of 42,142 units traded at $375,253 compared to 22,062 shares at $329,849 on Wednesday, with trading month to date averaging 34,878 units at $453,602 versus 34,412 units at $458,624, previously. The average trade in February amounts to 47,858 units at $516,870.
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, Angostura Holdings remained at $20.21, with 70 shares changing hands, Ansa McAl shed 1 cent to end at $57.50 with the swapping of 42 units, Ansa Merchant Bank increased 59 cents ending at $41 after 10,028 stock units crossed the market. Calypso Macro Investment Fund rallied 25 cents to end at a 52 weeks’ high of $20 after exchanging 100 stocks, Clico Investment Fund lost 24 cents to close at $29.65 after exchanging 35 shares, First Citizens Group fell $2.69 to close at $51.31 with 1,309 units changing hands. FirstCaribbean International Bank popped 2 cents to $6.08 with an exchange of 4,064 stock units, GraceKennedy ended unchanged at $6, with 100 stocks crossing the exchange, Massy Holdings finished at $6 after trading 782,778 shares. 
National Enterprises gained 1 cent to end at $2.82 in an exchange of 171 units, National Flour Mills finished at $1.84 after exchanging 30 stocks, NCB Financial Group rose 67 cents to close at $6.72 after trading 100 stock units. One Caribbean Media remained at $4.15, with 472 stocks clearing the market, Point Lisas ended unchanged at $3.50 in trading 25 units, Republic Financial Holdings dipped 1 cent to end at $141 in exchanging 7,479 shares. Scotiabank climbed 10 cents in closing at a 52 weeks’ high of $82 while 8,930 stock units changed hands, Trinidad & Tobago NGL advanced 15 cents to $20.40 in switching ownership of 8,399 shares, Trinidad Cement ended unchanged at $3.50 after trading 4,500 stock units. Unilever Caribbean finished at $15 in switching ownership of 1,854 units and West Indian Tobacco ended at $24 after 12,344 stocks passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
A total of 18 securities traded compared to 22 on Tuesday, with six rising, five declining and seven remaining unchanged. The Composite Index declined 0.71 points to 1,454.77, the All T&T Index slipped 0.97 points in ending at 2,107.35 and the Cross-Listed Index declined 0.06 points to 105.93.
Guardian Holdings fell 25 cents in closing at $28 after trading 1,310 units, JMMB Group shed 1 cent in ending at $2.25 after an exchange of 56,800 stock units, Massy Holdings inched 1 cent higher to end at $6 in exchanging 85,298 stock units. National Enterprises dropped 4 cents to $2.81, with 60,000 shares clearing the market, National Flour Mills finished at $1.84 in switching ownership of 848 units, One Caribbean Media declined 5 cents to $4.15 while exchanging 67,790 stocks. Republic Financial Holdings rallied 1 cent to $141.01, with 16,795 stocks crossing the exchange, Scotiabank popped $1.90 in closing at $81.90 after exchanging 899 shares, Trinidad & Tobago NGL ended unchanged at $20.25 in trading 25,842 units. Trinidad Cement remained at $3.50 with an exchange of 10,486 stock units, Unilever Caribbean finished at $15 after exchanging 2,860 shares and West Indian Tobacco ended at $24 with 3,224 units changing hands.
Guardian Holdings ended at $28.25 in exchanging 353 shares, JMMB Group dropped 10 cents to end at $2.25, with 79,707 units changing hands, L.J Williams B share slipped 10 cents to $2 with 284 stock units clearing the market. Massy Holdings remained at $6 after 184,173 stocks crossed the market, National Flour Mills finished at $1.84 after trading 1,000 units, NCB Financial Group rose 1 cent in closing at $6.02 in an exchange of 76,053 shares. Prestige Holdings fell 15 cents to end at $6.90 in trading 155 stock units, Republic Financial Holdings ended unchanged at $141.75 with 856 units crossing the exchange, Scotiabank rallied $2 to $80 in exchanging 3,719 stock units. Trinidad & Tobago NGL advanced 15 cents to close at $20.65 with the swapping of 29,517 shares, Trinidad Cement shed 20 cents in closing at $3.50 with an exchange of 5,000 stocks, Unilever Caribbean lost 24 cents to close at a 52 weeks’ low $15, with 687 stocks crossing the market and West Indian Tobacco finished at $24, with 38,856 units changing hands.
The Junior Market potential gains for the TOP 10 Junior Market stocks stand at 109 percent, much lower than the Main Market at 137 percent, an indication that Main Market is greatly undervalued. The top three stocks in the Junior Market are Elite Diagnostic, Medical Disposables followed by
The average PE for Junior Market is well ahead of the average of 17 times 2020 earnings achieved at the end of March last year in moving to 21.8 based on ICInsider.com’s 2021-22 earnings, pushed up mainly by five stocks, with EduFocal and Main Event over 100 times 2021 earnings. Excluding the 5 highest PE ratios over 40, the average would be around 18. The JSE Main and USD Markets at 15.8 is well off from 19 in 2021. The TOP 10 stocks trade at a PE of a mere 8.6, with a 45 percent discount to that market’s average.
The depressed PE of the main market is an indication that bigger investors are reluctant to be aggressive in buying into the market currently, with inflation, rising interest rates and war populating the headlines.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible 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 weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
JMMB Group increased 10 cents to $2.35 with an exchange of 101,627 stocks, Massy Holdings closed at $6 after the trading of 200,180 shares, National Enterprises ended unchanged at $2.85, with 42,810 stock units crossing the market. National Flour Mills lost 1 cent in closing at $1.84 with the swapping of 25 units, NCB Financial Group shed 8 cents to end at a 52 weeks’ low of $6.01, with 41,495 stocks clearing the market, One Caribbean Media rallied 5 cents to $4.20 after exchanging 20,000 stock units. Prestige Holdings shed 5 cents in ending at $7.05 after trading 19 shares, Republic Financial Holdings dropped 25 cents to $141.75, with 500 stock units crossing the exchange, Scotiabank remained at $78 after 3,415 units passed through the market. Trinidad & Tobago NGL lost 15 cents to end at $20.50 trading 4,011 stocks, Unilever Caribbean fell 1 cent in closing at $15.24 in trading 2,006 shares and West Indian Tobacco ended unchanged at $24 in exchanging 11,615 stocks.
A total of 19 securities were traded, down from 21 on Wednesday and ended with six rising, seven declining and six ending unchanged. NCB Financial ended at another 52 weeks’ low at the close. The Composite Index rose 4.80 points to 1,455.20, the All T&T Index gained 19.00 points to close at 2,109.44 and the Cross-Listed Index shed 1.46 points to end at 105.74.
JMMB Group ended unchanged at $2.25 in an exchange of 12,553 stock units, Massy Holdings rallied 10 cents in closing at $6 after 467,294 stocks crossed the exchange, National Flour Mills ended at $1.85 after exchanging 9,855 shares. NCB Financial Group dropped 11 cents to a 52 weeks’ low of $6.09 after 25,070 stocks changed hands, Republic Financial Holdings rose $2 to close at $142, after 134 shares crossed the market, Scotiabank finished at $78 trading 35 units. Trinidad & Tobago NGL climbed $1.62 to end at $20.65 with an exchange of 9,893 stock units, Trinidad Cement declined 5 cents in closing at $3.70 while exchanging 3,000 units, Unilever Caribbean advanced 5 cents to close at $15.25 after 44,465 stocks crossed the market and West Indian Tobacco remained at $24 in an exchange of 45,128 shares.
At the close the Composite Index dropped 18.52 points to 1,450.40, the All T&T Index plunged 40.15 points to settle at 2,090.44, but the Cross-Listed Index popped 0.65 points to settle at 107.20.
GraceKennedy shed 1 cent in closing at $5.99 crossing trading 1,000 shares, Guardian Holdings declined 50 cents to close at $29 in switching ownership of 1,104 units, JMMB Group finished at $2.25 after exchanging 10,000 shares. L.J. Williams B share remained at $2.10 with the swapping of 25 units, Massy Holdings dropped 10 cents to close at $5.90, with 288,551 stocks clearing the market, National Enterprises dropped 7 cents in closing at $2.85 after trading 7,106 stock units. NCB Financial Group lost 30 cents ending at a 52 weeks’ low of $6.20 after finishing trading 4,000 units, One Caribbean Media shed 5 cents to end at $4.15, with 1,000 stocks crossing the market, Point Lisas ended at $3.50, with 50 shares changing hands. Prestige Holdings closed at $7.10 while exchanging 100 stock units, Republic Financial Holdings finished at $140 with an exchange of 286 shares, Scotiabank fell $3.99 to end at $78 in switching ownership of 1,225 units. Trinidad & Tobago NGL declined $1.82 to $19.03 with the swapping of 1,000 stock units, Trinidad Cement remained at $3.75 trading 10 stocks and West Indian Tobacco finished at $24 in exchanging 2,810 units.
Massy Holdings fell 1 cent to $6 trading 515,384 units, National Enterprises declined 3 cents to $2.92 after trading 1,600 stocks, National Flour Mills popped 1 cent to close at $1.85 after exchanging 15,146 stock units. NCB Financial Group rallied 49 cents to a 52 weeks’ low of $6.50, with 14,528 shares crossing the market, One Caribbean Media climbed 5 cents in closing at $4.20 after 2,391 units changed hands, Prestige Holdings gained 10 cents to end at $7.10 with the swapping of 3,501 stock units. Republic Financial Holdings shed $1 to close at $140, with 1,213 stocks changing hands, Scotiabank advanced $7 in closing at 52 weeks’ high of $81.99 after 6,024 stocks crossed the market, Trinidad & Tobago NGL rose 33 cents in ending at $20.85 with the swapping of 13,935 shares. Unilever Caribbean dropped 5 cents to end at $15.20 with an exchange of 1,000 stock units and West Indian Tobacco ended unchanged at $24 in switching ownership of 26,928 units.
A total of 19 securities traded compared to 16 on Friday, with four rising, three declining and 12 remaining unchanged. The Composite Index declined 15.38 points to 1,471.65, the All T&T Index fell 10.30 points to finish at 2,138.28 and the Cross-Listed Index dropped 2.91 points to settle at 106.19.
National Flour Mills remained at $1.84 trading 7,791 units, NCB Financial Group fell 44 cents to a 52 weeks’ low of $6.01 in exchanging 39,765 stock units, One Caribbean Media ended unchanged at $4.15, with 2,648 stocks crossing the market. Point Lisas closed at $3.50 in an exchange of 2,000 stock units, Prestige Holdings lost 10 cents after ending at $7 after 4,465 shares crossed the market, Republic Financial Holdings gained $1 to end at $141 exchanging 282 stocks. Scotiabank ended at $74.99 trading 60 units, Trinidad & Tobago NGL finished at $20.52 with the swapping of 3,836 stocks, Unilever Caribbean ended unchanged at $15.25 trading 8,500 shares and West Indian Tobacco advanced 65 cents after ending at $24, with 9,253 units crossing the market.
Caribbean Assurance Brokers come back in the Junior Market list, while Sterling Investments makes it back to the Main Market listing at the expense of TransJamacian Highway after just one week, but investors should keep an eye for this one.
During the past week, the Junior Market TOP10 listed Access Financial, Lasco Financial and Iron Rock Insurance gained 6 percent each while Medical Disposables fell 9 percent and Tropical Battery slipped 5 percent. In the Main Market, the primary movers are Guardian Holdings with a 4 percent gain, while JMMB Group fell 7 percent and Proven Investments declined by 5 percent.
The potential gains for Main Market stocks moved from 124 percent last week to this weeks’ 127 percent, with the top three being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 168 and 193 percent versus 161 and 193 percent last week.
The average PE for the JSE Main Market is 21 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to the end of March this year. The Main Market TOP 10 average PE is 9 representing a 43 percent discount to the market, well below the potential of 20. Around 15 stocks or a thirty percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times current year’s earnings. The depressed PE of the main market may be indicating that bigger investors are reluctant to be aggressive in buying into the market currently with inflation, rising interest rates and war populating the headlines.
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 emotional attachments to stocks that often result in costly mistakes.