Trading dipped on Wednesday compared to Tuesday, with an exchange of 13 percent fewer shares and 44 percent lower value after 16 securities traded compared to 22 on Tuesday, with five rising, four declining and seven ended unchanged at the close of the Trinidad and Tobago Stock Exchange.
The Composite Index dipped 1.62 points to 1,516.49, the All T&T Index rallied 0.27 points to 2,126.80 and the Cross-Listed Index slipped 0.51 points to settle at 121.02.
Overall, 937,553 shares traded for $9,155,489 compared to 1,078,680 units at $16,459,376 on Tuesday. An average of 58,597 units traded at $572,218 compared to 49,031 shares at $748,153 on Tuesday. Tading month to date ended with an average of 53,059 units at $674,589. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
Agostini’s gained $1 to close at $46 in switching ownership of 4,415 shares, Angostura Holdings ended unchanged at $19.99 after trading 48 units, Ansa McAl finished with an exchange of 12,735 stocks at $59. Clico Investment Fund rallied 2 cents to $29, with 8,050 stock units crossing the market, First Citizens Group remained at $64 after exchanging 1,323 stock units, GraceKennedy lost 10 cents in closing at $6.10, with 166,758 shares crossing the exchange. 
Guardian Holdings popped 15 cents to close at $30 after exchanging 12,000 units, JMMB Group shed 4 cents ending at $2.30 trading 65,122 stocks, Massy Holdings ended at $106 with 9,577 stock units changing hands. National Flour Mills dipped 1 cent to $1.90 in trading 3,928 stocks, NCB Financial Group ended at $8 with the swapping of 606,255 shares, Republic Financial Holdings remained at $143 after trading 32 units. Trinidad & Tobago NGL advanced 99 cents to close at $19.99 while exchanging 10,409 shares, Trinidad Cement ended unchanged at $3.75 in exchanging 26,425 units, Unilever Caribbean fell 5 cents to $15.95 and ended trading of 10,040 stock units and West Indian Tobacco rose 59 cents to end at $26.60, with 436 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading slips for Trinidad stocks on Tuesday
Slippage in Port of Spain
Trading on the Trinidad and Tobago Stock Exchange started in February, with the market indices slipping when the market closed on Tuesday, with slightly more stocks rising than falling after 100 percent more shares were exchanged, with 116 percent higher value than on Monday.
A total of 22 security traded down slightly from 24 on Monday, with eight stocks rising, seven declining and seven remaining unchanged.
FirstCaribbean International Bank and West Indian Tobacco both closed trading at 52 weeks’ low.
The Composite Index declined 4.56 points to 1,518.11, the All T&T Index fell 5.15 points to 2,126.53 and the Cross-Listed Index dipped 0.55 points to settle at 121.53.
A total of 1,078,680 shares traded or $16,459,377 up from 539,621 units at $7,631,985 on Monday. An average of 49,031 units traded at $748,153 compared to 22,484 shares at $317,999 on Monday. The average trade for January amounted to 39,943 units at $369,498.
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 rose 50 cents in ending at $45, with 2,327 shares crossing the market, Angostura Holdings remained at $19.99 while exchanging 1,100 stock units, Ansa McAl ended unchanged at $59 trading 73 units. CinemaOne fell 5 cents to end at $4 after an exchanging of 4,149 stocks, Clico Investment Fund increased 48 cents to $28.98 with the swapping of 2,285 stock units, First Citizens Group dropped 49 cents to $64 after finishing trading of 577 shares. FirstCaribbean International Bank shed 14 cents to close at a 52 weeks’ low of $6 after the switching ownership of 1,000 units, GraceKennedy popped 9 cents to end at $6.20 trading 955,600 stocks, Guardian Holdings lost 15 cents to close at $29.85, with 69 stock units changing hands.
JMMB Group declined 1 cent to $2.34 with 5,319 stocks clearing the market, L.J. Williams B share gained 4 cents to end at $1.84 with an exchange of 1,621 shares, Massy Holdings finished at $106 in exchanging 9,524 units. National Flour Mills rallied 4 cents to $1.91 after exchanging 15 units, NCB Financial Group finished at $8 after 19,842 stocks crossed the market, One Caribbean Media remained at $4.10 in an exchange of 1,999 stock units. Point Lisas ended unchanged at $3.27 in trading 200 shares, Republic Financial Holdings advanced $1 to close at $143 after trading 62,644 stocks, Scotiabank popped 1 cent to $72.01 in switching ownership of 800 units. Trinidad & Tobago NGL declined 99 cents in closing at $19 after 2,001 stock units passed through the exchange, Trinidad Cement gained 1 cent to end at $3.75 while exchanging 7,000 shares, Unilever Caribbean ended unchanged at $16 after trading 129 shares and West Indian Tobacco lost $1.49 to end at a 52 weeks’ low of $26.01 in an exchange of 406 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks up 2% on Trinidad Stock Exchange
Stocks recorded gains of almost two percent in January at the close of market activity on Monday with more stocks falling than rising at the close of trading, after trading 31 percent fewer shares changed hands than on Friday, on the Trinidad and Tobago Stock Exchange as 24 securities traded up from 21 on Friday, with four rising, six declining and 14 remaining unchanged.
The Composite Index dipped 0.69 points to 1,522.67, the All T&T Index slipped 1.33 points to 2,131.68 and the Cross-Listed Index remained unchanged at 122.08.
A total of 539,621 shares traded for $7,631,985 up from 778,680 units at $8,157,581 on Friday. An average of 22,484 units traded at $317,999 up from 37,080 shares at $388,456 on Friday, with trading month to date averaging 39,943 units at $369,498 versus 41,079 units at $372,826. The average trade for December amounts to 21,703 units at $306,768.
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 75 cents to $44.50 while exchanging one share, Angostura Holdings finished at $19.99 trading 2,001 stock units, Ansa McAl ended at $59 after exchanging 42 units. Calypso Macro Investment Fund remained at $16.75 with investors swapping 640 stocks, CinemaOne dropped 15 cents to close at $4.05, with 851 units crossing the exchange, Clico Investment Fund declined $1.50 to $28.50, with 7,961 stocks changing hands. First Citizens Group ended at $64.49 with an exchange of 24 stock units, FirstCaribbean International Bank remained at $6.14, with one share crossing the market, GraceKennedy lost 4 cents to $6.11 in switching ownership of 9,047 shares. Guardian Holdings finished at $30 after exchanging 439 stock units, Guardian Media remained at $3.10 after 1,914 stocks crossed the market, JMMB Group closed at $2.35 with the swapping of 2,581 units.
L.J. Williams B share advanced 8 cents to $1.80 after the trading of 3,379 units, Massy Holdings ended at $106 in an exchange of 34,668 stock units, National Enterprises climbed 13 cents to end at $3.25 after exchanging 315 stocks. NCB Financial Group shed 1 cent to end at $8, with 300,855 shares clearing the market, One Caribbean Media shed 10 cents to $4.10 trading 5,001 units, Point Lisas remained at $3.27 after exchanging 152,249 stocks. Prestige Holdings popped 4 cents to close at $7.04 after 30 shares crossed the market, Republic Financial Holdings popped 66 cents to $142, with1,000 stock units crossing the exchange, Scotiabank finished at $72 after clearing the market with 3,431 stocks. Trinidad & Tobago NGL ended at $19.99 after trading 10,007 stock units, Unilever Caribbean remained at $16 with 1,589 shares changing hands and West Indian Tobacco ended at $27.50 in trading 1,595 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More fresh ICTOP10 listings
The markets were active this past week with the Junior Market closing at record highs on Thursday and Friday while the main market rose 2,750 points for the week, with former ICTOP10 listed Caribbean Producers hitting a record high of $20 at the close on Friday, up 19 percent from $16.74 last week and a stunning 614 since the start of 2021 as three TOP10 Main Market stocks enjoyed decent gains.
Access Financial fell from the Junior Market ICTOP10, with results for the nine months to December indicating that earnings for the full year will be in the $2 region rather than $2.60 that ICInsider.com previously projected, but it remains high on the 2022 TOP10. Elite Diagnostic traded at a 52 weeks’ high of $4.40 on Friday and ended at $3.73 with a gain of 7 percent in exiting the TOP10. 
Lumber Depot rose 10 percent to $3.20 and dropped out of the top listing. AMG Packaging rose 18 percent to end at $3.59, while Caribbean Assurance Brokers and Stationery & Office Supplies both gained 3 percent to remain in the TOP10. There are no new listings for the TOP10 Main Market for the week.
Guardian Holdings climbed 6 percent to close at $550, JMMB Group rose 8 percent to $40.99 and Sygnus Credit Investments jumped 10 percent to $15.84.
The sharp price movements in the Junior Market over the recent past weeks reduced the potential gains markedly, with the average increase projected for the TOP 10 Junior Market stocks now at 114 percent versus 119 percent last week and is now lower than the Main Market.
The top three stocks are Lasco Distributors followed by Caribbean Assurance Brokers and Lasco Financial to gain between 128 and 148 percent, compared to 131 and 150 percent, previously.
The potential gains for Main Market stocks moved from 139 percent to this weeks’ 131 percent, with the top three stocks being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 155 and 193 percent from 151 and 254 percent last week.
After trading at a big discount to the Main Market for two years, the average PE for both the JSE primary markets has merged at 16.5 times 2021 earnings.
The Junior Market closed the week, with an average PE of 16.5 based on ICInsider.com’s 2021-22 earnings and is currently below the target of 20 and now very close to the average of 17 that was achieved at the end of March last year based on 2020 earnings. 
The TOP 10 stocks trade at a PE of a mere 9.4, with a 43 percent discount to that market’s average.
The Junior Market can gain 21 percent to March this year, based on an average PE of 20 that would take the index to 4,400 points. Twelve stocks representing 29 percent of all Junior Market stocks with positive earnings are trading at or above this level, averaging 25.
The average PE for the JSE Main Market is 16.5 just 15 percent less than the PE of 19 at the end of March and 21 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.8 representing a 47 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 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 the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 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.
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.
Persons who compiled this report may have an interest in securities commented on in this report.
Retreat for Trinidad & Tobago stocks
Stock prices plunged Thursday, on the Trinidad and Tobago Stock Exchange, with the Composite Index shedding 6.49 points to 1,523.32, the All T&T Index fell 11.35 points to close at 2,127.38 and the Cross-Listed Index lost 0.18 points to settle at 122.91, with just two stocks rising, 11 declining and five remaining unchanged after trading picked up with 168 percent more shares changing hands with 417 percent higher value than on Wednesday.
A total of 18 securities traded similar to Wednesday, resulting in an exchange of 396,731 shares for $14,048,777 up from 148,186 units at $2,718,598, previously. An average of 22,041 units traded at $780,488 compared to 8,233 shares at $151,033 on Wednesday, with trading month to date averaging 41,320 units at $371,883 versus 42,372 units at $349,596. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four stocks with lower offers.
At the close, Agostini’s fell 74 cents to close at $45 in trading 30 shares, Angostura Holdings ended unchanged at $19.99, with 314 stocks crossing the market, Ansa McAl declined $2.50 in closing at $57 trading 61,190 units. Clico Investment Fund rallied $1.50 to $30, with 89 stock units changing hands, First Citizens Group gained 25 cents to end at $64.75 in exchanging 885 stock units, FirstCaribbean International Bank finished at $6.14 in an exchange of 30 shares. GraceKennedy dropped 4 cents to close at $6.16 while exchanging 4,435 units, Guardian Holdings remained at $30 after 4,691 stocks crossed the market, JMMB Group slipped 4 cents to $2.47, after 5,224 shares changed hands. L.J. Williams B share shed 8 cents in closing at $1.72, with 2,025 stock units clearing the market, Massy Holdings shed 1 cent to $105.99 with the swapping of 77,085 stocks, National Enterprises remained at $3.25 after exchanging 15 units. 
National Flour Mills lost 5 cents after ending at $1.87 in switching ownership of 1,152 stocks, NCB Financial Group dropped 3 cents in closing at $8 after exchanging 224,190 units, Scotiabank fell $2 to close at $72 with an exchange of 3,146 stock units. Trinidad & Tobago NGL declined 1 cent in closing at $19.99 trading 390 shares, Trinidad Cement finished at $3.80 after 9,314 shares changed hands and West Indian Tobacco shed 1 cent to $27.98 while exchanging 2,526 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading falls on TTSE
Market activity resulted in more stocks rising than falling at the close of trading on Wednesday after an exchange of 81 percent fewer shares, with a 73 percent lower value than on Tuesday, at the close of the Trinidad and Tobago Stock Exchange.
A total of 18 securities traded compared to 19 on Tuesday, with four rising, five declining and nine remaining unchanged. The Composite Index lost 2.35 points to 1,529.81, the All T&T Index lost 13.09 points to close at 2,138.73 and the Cross-Listed Index gained 1.28 points to settle at 123.09.
A total of 148,186 shares traded for $2,718,598 compared to 796,016 shares at $9,919,652 on Tuesday. An average of 8,233 units traded at $151,033 compared to 41,896 shares at $522,087 on the previous day, with trading month to date averaging 42,372 units at $349,596 versus 44,341 units at $361,051. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three stocks with lower offers.
At the close, Agostini’s lost 26 cents to close at $45.74 in trading 45 shares, Angostura Holdings ended at $19.99, with 742 stock units changing hands, Calypso Macro Investment Fund rallied $2.34 to close at a 52 weeks’ high of $19 while exchanging 6 units. Clico Investment Fund dropped $1 to end at $28.50, with 63,138 stocks crossing the market, First Citizens Group declined $1 in closing at $64.50 after 481 stocks changed hands, GraceKennedy finished at $6.20 trading 4,190 stock units. 
Guardian Holdings fell 20 cents in closing at $30 with an exchange of 562 units, Guardian Media remained at $3.10, with 2,000 shares crossing the exchange, JMMB Group popped 27 cents to $2.51 after exchanging 12,441 stock units. L.J. Williams B share finished at $1.80 in an exchange of 2,123 stocks, Massy Holdings ended unchanged at $106 in swapping 4,163 units, National Enterprises remained at $3.25 trading 3,000 shares. NCB Financial Group increased 2 cents to end at $8.03, with 3,607 shares clearing the market, One Caribbean Media ended unchanged at $4.20 in switching ownership of 50,000 stock units, Prestige Holdings held at $7.05 with the swapping of 688 stocks. Republic Financial Holdings shed $1.70 in ending at $141.30 after exchanging 130 units, Scotiabank climbed $1.99 to $74, with 820 stocks crossing the market and West Indian Tobacco finished at $27.99 with an exchange of 50 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs but T&T market falters
Market activity picked on Tuesday and resulted in 54 percent more shares trading, with 148 percent higher value than on Monday, on the Trinidad and Tobago Stock Exchange, but trading ended with the market indices slipping at the close.
The number of securities traded remained at 19 similar to trading on Monday and ended with four rising, five slipping and 10 unchanged.
The Composite Index fell 7.93 points to 1,532.16, the All T&T Index shed 4.14 points to close at 2,151.82 and the Cross-Listed Index shed 1.68 points to settle at 121.81.
Overall, 796,016 shares traded for $9,919,652 versus 516,896 units at $4,004,944 on Monday. An average of 41,896 units traded at $522,087 compared to 27,205 shares at $210,787 on the previous day, with trading month to date averaging 44,341 units at $361,051 versus 44,500 units at $350,629. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Angostura Holdings remained at $19.99 with 270 shares changing hands, Clico Investment Fund increased 99 cents to close at $29.50 with an exchange of 29,992 stock units, First Citizens Group lost 50 cents in ending at $65.50 after trading 652 units. FirstCaribbean International Bank finished at $6.14 in an exchange of 1,971 stocks, GraceKennedy ended unchanged at $6.20 after 11,125 shares changed hands, Guardian Holdings rose 18 cents to $30.20 with 1,711 stocks passing through the market.
JMMB Group declined 31 cents to end at $2.24 in trading 202,436 stock units, L.J Williams B share fell 4 cents to close at $1.80 while exchanging 823 units, Massy Holdings ended at $106, with 43,163 units crossing the exchange. National Enterprises remained at $3.25 with the swapping of 120,000 shares, National Flour Mills finished at $1.92 in exchanging 1,372 stock units, NCB Financial Group remained at $8.01 after trading 321,694 stocks. One Caribbean Media advanced 10 cents to end at $4.20 in an exchange of 50,000 units, Republic Financial Holdings ended at $143, with 3,081 shares crossing the market, Scotiabank shed $2.97 to close at $72.01 trading 563 stock units. Trinidad & Tobago NGL finished at $20 as investors exchanged 1,083 stocks, Trinidad Cement rallied 4 cents to $3.80, with 316 stock units clearing the market, Unilever Caribbean dropped 25 cents to $15.75 while exchanging 1,306 stocks and West Indian Tobacco ended unchanged at $27.99, with 4,458 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Another record close for Trinidad stocks
More records tumbled at the end of market activity on Monday and resulted in more stocks rising than falling at the close of trading of the Trinidad and Tobago Stock Exchange, after trading 65 percent more shares, valued 76 percent less than on Friday.
As was the case on Friday, 19 securities traded, with three rising, four declining and 12 remaining unchanged.
The Composite Index advanced 9.72 points to a record high of 1,540.09, the All T&T Index rose 10.87 points to close at another record of 2,155.96 and the Cross-Listed Index increased 1.19 points to settle at 123.49.
Overall, 516,896 shares traded for $4,004,944 compared to 312,597 units at $16,361,645 on Friday. An average of 27,205 units traded at $210,787 compared to 16,452 shares at $861,139 on the prior trading day, with the month to date averaging 44,500 units at $350,609 versus 45,699 units at $360,304. The average trade for December amounts to 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and two stocks with lower offers.
At the close, Agostini’s finished at $46 after trading 518 shares, Angostura Holdings ended unchanged at $19.99, with 246 units clearing the market, Clico Investment Fund fell $1.49 to close at $28.51 in exchanging 24,630 stock units. Endeavour Holdings advanced 1 cent to $8 after exchanging 1,000 stocks, First Citizens Group remained at $66 in switching ownership of 355 shares, GraceKennedy lost 2 cents to close at $6.20 with the swapping of 51,513 stock units. 
Guardian Holdings dropped 23 cents in closing at $30.02 after exchanging 12,289 stocks, JMMB Group climbed 20 cents to $2.55 while 13,700 units changed hands, L.J. Williams B share ended unchanged at $1.84 with an exchange of 2,542 stocks. Massy Holdings finished at $106, with 5,897 units crossing the exchange, National Enterprises closed at $3.25 after 336,000 shares changed hands, National Flour Mills remained at $1.92 trading 2,428 stock units. NCB Financial Group ended unchanged at $8.01 in an exchange of 47,826 stock units, One Caribbean Media shed 10 cents to close at $4.10, with 100 stocks crossing the market, Prestige Holdings had an exchange of 12 shares at $7.05. Republic Financial Holdings ended unchanged at $143 in trading 312 units, Trinidad & Tobago NGL finished at $20, with 11,413 stocks changing hands, Unilever Caribbean rose 20 cents to end at $16, with 4,000 stock units crossing the exchange and West Indian Tobacco remained at $27.99, with 2,115 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New ICTOP10 listings & more big gains
Long time Junior Market ICTOP10 listed Access Financial, finally broke away from resistance and jumped 31 percent for the week to $26.28, but traded at a 52 weeks’ high of $28 on Wednesday and just barely hung on to the top ten in the tenth spot.
Access Financial Services top performing ICTOP10 stock for the past week.
In the Main Market, Radio Jamaica rose 19 percent to $4.10, the 2021 ICTOP10 top performer, Caribbean Producers, climbed 5 percent and finally slipped out of the top 10 after a ride lasting more than a year and a gain of 573 percent, but the stock has more room for healthy gains.
Sagicor Group returns to the TOP10 Main Market and Stationery & Office Supplies returns to the Junior Market listing after an earnings upgrade, following a review of the forecasted numbers as the company continues to recover to pre-Covid-19 sales and Fontana dropped out with a 4 percent rise, but has much more room to grow in 2022.
Junior Market Elite Diagnostic gained 10 percent to $3.50, Honey Bun rose 7 percent. AMG Packaging lost 10 percent to end at $3.05, Lasco Financial lost 8 percent, Caribbean Assurance Brokers fell 7 percent and General Accident slipped 5 percent.
The week ended with the supplies for some stocks becoming very limited, this applies to Access and Radio Jamaica. Newly listed Spur Tree Spices came in for profit taking on Thursday and Friday after the price peaked at $2.75 and closed the week at $2.15 a fall of 22 percent from the peak, which suggests suggesting more room for decline before the price bottoms. That could take it to around $1.95 based on declines from peak to through of some previous IPOs.
The sharp price movements in the Junior Market reduced the potential gains markedly, with the average increase projected for the TOP 10 Junior Market stocks now at 119 percent versus 122 percent last week.
The top three stocks are Lasco Distributors followed by Caribbean Assurance Brokers and Lasco Financial to gain between 131 and 150 percent, compared to 124 and 160 percent, previously.
The potential gains for Main Market stocks moved from 144 percent to this weeks’ 139 percent this week, with the top three stocks being Guardian Holdings followed by JMMB Group and Sygnus Credit Investments all projected to gain between 151 and 254 percent down from 161 and 257 percent last week.
After trading at a big discount to the Main Market for two years, the average PE for both the JSE primary markets have virtually merged around 16 times earnings multiple based on 2021 earnings, with the Junior Market looking poised to surpass the main Market soon. The difference in potential gains for both TOP10 listings shows the Junior Market with an average rise of 118 percent versus 139 percent for the Main Market. That is an indication that the Junior Market is priced slightly higher than the Main Market.
The Junior Market closed the week, with an average PE of 16 based on ICInsider.com’s 2021-22 earnings and is currently below the target of 20 and the average of 17 at the end of March last year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 9.2, with a 43 percent discount to that market’s average.
The Junior Market can gain 25 percent to March this year, based on an average PE of 20 and 6 percent based on an average PE of 17. Twelve stocks representing 29 percent of all Junior Market stocks with positive earnings are trading at or above this level averaging 25.
The average PE for the JSE Main Market is 16.5 just 15 percent less than the PE of 19 at the end of March and 21 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.7 representing a 47 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 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 the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 
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.
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.
Persons who compiled this report may have an interest in securities commented on in this report.
Record high for Trinidad stocks
Investors pushed the Trinidad and Tobago Stock Exchange to record a high close of market activity on Friday as they moved the prices of 10 stocks up allowed four to slip and left five unchanged as the volume of shares trading, dipped while the value rose 33 percent compared to Thursday as stocks of 19 companies traded.
The Composite Index rose 17.67 points to close at a record high of 1,530.37, the All T&T Index rallied 36.19 points to an all-time high of 2,145.09 and the Cross-Listed Index shed 0.30 points to settle at 122.30.
A total of 312,597 shares traded for $16,361,645 compared to 360,139 units at $12,296,385 on Thursday. An average of 16,452 units traded at $861,139 compared to 18,955 shares at $647,178 on the prior day, with trading month to date averaging 45,699 units at $360,304 versus 47,878 units at $322,987. The average trade for December ended at 21,703 units at $306,768.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s climbed $6 after ending at a 52 weeks’ high of $46 with an exchange of 19 shares, Angostura Holdings finished at $19.99 while exchanging 35 stocks, Clico Investment Fund rose 50 cents to $30, with 32,210 stock units changing hands. First Citizens Group popped $5.75 to end at $66, with 10,683 units clearing the market, FirstCaribbean International Bank remained at $6.14 trading 7,344 units, GraceKennedy increased by 2 cents in closing at $6.22 while exchanging 23,545 stocks. Guardian Holdings rallied 25 cents to close at $30.25 in exchanging 13,334 shares, Guardian Media lost 5 cents ending at $3.10 after 1,304 stock units crossed the exchange, L.J. Williams B share gained 4 cents to end at $1.84 trading 5,000 shares. 
Massy Holdings fell 25 cents to $106 as 122,818 stocks crossed the market, National Enterprises dropped 35 cents to close at $3.25 trading 61,793 stock units, National Flour Mills ended unchanged at $1.92 after 1,078 units changed hands. NCB Financial Group shed 4 cents in closing at $8.01 in switching ownership of 11,380 stocks, Prestige Holdings advanced 5 cents in ending at $7.05 in an exchange of 1,301 shares, Republic Financial Holdings popped $1.70 to $143 with the swapping of 25 units. Scotiabank gained $4.48 to close at a 52 weeks’ high of $74.98 after exchanging 7,524 stock units, Trinidad & Tobago NGL climbed $1.35 to end at $20 in trading 10,654 stocks, Trinidad Cement ended unchanged at $3.76, with 2,000 stock units passing through the market and West Indian Tobacco remained at $27.99 after 550 units changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.