Falling stocks outnumbered those rising by more than two to one when trading ended on the Trinidad and Tobago Stock Exchange on Wednesday and finished with a 60 percent rise in the volume of stocks traded rising valued 244 percent more than on Tuesday and resulting in the trading of 20 securities similar to Tuesday and ending with prices of four stocks rising, nine declining and seven remaining unchanged.
The market closed with an exchange of 138,141 shares for $3,123,131 compared with 86,156 stock units at $908,797 on Tuesday.
An average of 6,907 shares were traded at $156,157 compared to 4,308 units at $45,440 on Tuesday, with trading month to date averaging 12,770 shares at $150,226 compared with 13,365 units at $149,625 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index skidded 2.36 points to close at 1,206.82, the All T&T Index sank 4.90 points to 1,816.25, the SME Index remained unchanged at 77.71 and the Cross-Listed Index rose 0.05 points to conclude trading at 77.63.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Agostini’s climbed 37 cents to close at $69, with 1,881 shares crossing the market, Ansa McAl shed $2 to $55 after a transfer of 4,209 units, Ansa Merchant Bank sank 15 cents to finish at $45.15 with investors trading 131 shares. 
Calypso Macro Investment Fund dropped 40 cents to $22.60 after trading 4,108 stocks, Endeavour Holdings ended at $15 with investors trading 33 shares, First Citizens Group slipped 1 cent to $48.10 in swapping 1,915 units. FirstCaribbean International Bank gained 6 cents to close at $7.01 after an exchange of 1,688 stocks, GraceKennedy ended at $3.90 in trading 8,000 stock units, Guardian Holdings slipped 5 cents and ended at $18.70 with 30 shares changing hands. JMMB Group lost 4 cents to close at $1.45 in an exchange of 3,692 units, Massy Holdings ended at $4.30, with 66,356 stocks changing hands, National Enterprises dipped 3 cents to end at $3.85 as investors traded 420 stock units. National Flour Mills remained at $2.20 after 17,000 shares passed through the market, One Caribbean Media remained at $3.82, with 907 stocks crossing the exchange, 
Point Lisas skidded 20 cents in closing at $3.50 with investors swapping 900 stock units. Prestige Holdings ended at $14 in an exchange of 3,508 stocks, Republic Financial popped 7 cents to end at $119 with investors trading 17,367 shares, Scotiabank ended at $69.98 and closed with an exchange of 373 stock units. Trinidad & Tobago NGL declined 46 cents to $8.50 with 5,123 stocks changing hands and Trinidad Cement rallied 11 cents in closing at $2.85 with 500 units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks push Trinidad Exchange down
Slow trading on the Trinidad Exchange
Trading ended on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume and valued traded declining by 51 percent from that on Monday and resulting in activities in 20 securities up from 17 on Monday and ending with prices of five stocks rising, four declining and 11 remaining unchanged.
The market closed with an exchange of 86,156 shares for valued at $908,797 compared to 176,997 stock units at $1,850,702 on Monday.
An average of 4,308 shares were traded at $45,440 compared with 10,412 units at $108,865 on Monday, with trading month to date averaging 13,365 shares at $149,625 compared with 14,389 units at $161,398 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index dropped 4.25 points to 1,209.18, the All T&T Index lost 8.01 points to end the day at 1,821.15, the SME Index remained at 77.71 and the Cross-Listed Index dipped 0.03 points to 77.58.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of the market, Agostini’s fell 12 cents to close at $68.63 after investors traded of 1,000 shares, 
Angostura Holdings shed 21 cents to end at $22.74 in an exchange of 2,205 units, Ansa McAl ended at $57 with investors swapping just 2 shares. Ansa Merchant Bank closed trading at $45.30 after 2 stock units passed through the market, Calypso Macro Investment Fund finished at $23 with investors trading 3,404 shares, First Citizens Group popped 1 cent to $48.11 with 471 stocks crossing the market. GraceKennedy ended at $3.90 with investors trading 2,625 stocks, Guardian Holdings closed at $18.75 after exchanging 618 units, Guardian Media closed at $2 with investors dealing in 106 stocks. Massy Holdings finished trading at $4.30 with an exchange of 22,088 shares, National Enterprises popped 8 cents to end at $3.88 after a transfer of 7,102 stock units, One Caribbean Media ended at $3.82, with 25 units changing hands. Point Lisas remained at $3.70 in trading 100 shares,
Prestige Holdings ended at $14after 4,435 units passed through the market, Republic Financial declined 7 cents and ended at $118.93 as investors exchanged 619 stocks. Scotiabank increased 3 cents in closing at $69.98 in switching ownership of 329 stock units, Trinidad & Tobago NGL remained at $8.96 with traders dealing in 29,106 shares, Trinidad Cement rose 3 cents to close at $2.74 in an exchange of 2,684 stock units. Unilever Caribbean jumped $1.09 to $12.65 and closed with 1,584 units changing hands and West Indian Tobacco lost 99 cents to finish at $13.01 with an exchange of 7,651 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trinidad stocks mostly slide
Falling prices were the single most dominant feature of trading on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded rising 18 percent valued at 9 percent less than on Friday resulting from 17 securities that were traded compared with 16 on Friday and ending with prices of three stocks rising, eight declining and six remaining unchanged.
The market closed with an exchange of 176,997 shares for $1,850,702 versus 149,549 stock units for $2,042,881 on Friday.
An average of 10,412 shares were traded at $108,865 up from 9,347 units at $127,680 on Friday, with trading month to date averaging 14,389 shares at $161,398 compared to 14,811 units at $166,980 on the previous trading day and an average for March of 28,236 shares at $236,496.
The Composite Index lost 4.60 points to conclude trading at 1,213.43, the All T&T Index skidded 6.57 points to lock up trading at 1,829.16, the SME Index remained at 77.71 and the Cross-Listed Index fell 0.35 points to end at 77.61.
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 rose 12 cents to $68.75 with 305 shares passing through the exchange, Angostura Holdings climbed 21 cents in closing at $22.95 with investors trading 7,818 units, Ansa McAl ended at $57 with an exchange of 30 stocks. First Citizens Group ended trading of 7,186 units $48.10, FirstCaribbean International Bank slipped 6 cents to finish at $6.95 with a transfer of 13,820 stocks, GraceKennedy ended at $3.90 after 165 shares were traded. Guardian Holdings dipped 25 cents to $18.75 in trading 30 units, JMMB Group dipped 1 cent to $1.49, with 5,381 stock units changing hands, Massy Holdings slipped 7 cents to finish at $4.30 as investors exchanged 17,973 shares. National Enterprises fell 8 cents and ended at $3.80 after trading in 57,673 stock units,
Prestige Holdings closed trading of 19,422 units at $14, Republic Financial ended at $119 with investors swapping 1,513 stocks. Scotiabank declined 5 cents in closing at $69.95 after 2,237 units passed through the market, Trinidad & Tobago NGL popped 46 cents to $8.96 with traders dealing in 15,517 stocks, Trinidad Cement ended at $2.71 with 20,000 shares clearing the market. Unilever Caribbean shed 94 cents and ended at $11.56 with investors dealing in 2,615 stock units and West Indian Tobacco skidded $1.48 to end at $14 after a transfer of 5,312 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Scotia & Express Catering depart ICTOP10
In a week of the market ups and downs with Scotia Group and Express Catering dropping out of the ICTOP10 listing. Price movements in the TOP10 have been notable, with Express Catering at long last making a move higher in adding 10 percent, to close at $4.45, but the potential of the stock is held back by the company’s poor corporate governance practices highlighted by the fact that loan funding is used to on-lend to related group companies, with no benefit to the company’s to the company, with the company giving up more than US$1 million per year.
In a review of the ICTOP10, the earnings for the current year were confirmed at 45 cents for AMG Packaging, following the release of six months’ results on Friday, showing profit up 78 percent for the latest quarter and the half year while tTech earnings were projected for the current year at 30 cents per share pushing the stock in the TOP10.
In market activity during the week, Caribbean Cream climbed 9 percent to $3.90, but Iron Rock Insurance fell 12 percent to $2.20 followed by Edufocal, down 10 percent to an all time low of 93 cents while Consolidated Bakeries slipped 8 percent to $2.01. In the Main Market, Key Insurance rose 12 percent to $2.48 and 138 Student Living rose 6 percent to $4.18 while Margaritaville dropped 12 percent to $14.10.
tTech is a new addition to the Junior Market ICTOP10 with the increase in projected earnings for 2024, replacing Express Catering and in Main Market TOP10, Jamaica Broilers returns, edging out the undervalued Scotia Group. Jamaica Broilers another severely undervalued stock with good long term growth prospects returns to the TOP10.
It is worth noting that Honey Bun that was last in the TOP10 in the week ending March 8 and hit a 52 weeks’ high of $7.92 this week to be up 18 percent since it was added to the listing in mid-February at $6.69. The price should continue to increase throughout 2024.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.2 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 273 percent by May 2025, based on 2024 forecasted earnings, providing better values than the Junior Market with the potential to gain 191 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 107, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 25 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 44, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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.
ICTOP10 stocks will likely deliver the best returns on or around May 2025 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.
Steady trading in Trinidad
Trading ended on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded declining moderately with a 15 percent lower value than on Thursday resulting in 16 securities trading down from 20 on Thursday and ending with prices of two stocks rising, four declining and 10 remaining unchanged.
The market closed with an exchange of 149,549 shares with a value of $2,042,881 compared with 153,211 stock units at $2,400,195 on Thursday.
An average of 9,347 shares were traded at $127,680 compared to 7,661 units at $120,010 on Thursday, with trading month to date averaging 14,811 shares at $166,980 compared t0 15,418 units at $171,347 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index slipped 0.15 points to end at 1,218.03, the All T&T Index declined 0.29 points to end trading at 1,835.73, the SME Index remained at 77.71 and the Cross-Listed Index ended unchanged at 77.96.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s fell 36 cents to $68.63 in switching ownership of 5,000 stocks, Ansa McAl ended at $57, with 30 units clearing the market, First Citizens Group slipped 9 cents and ended at $48.10 in trading 4,543 shares. FirstCaribbean International Bank remained at $7.01 after an exchange of 400 stock units, Guardian Holdings ended at $19 with investors transferring 10,470 shares, JMMB Group remained at $1.50 in an exchange of 1,147 stock units. Massy Holdings popped 1 cent in closing at $4.37, with 36,150 units changing hands, National Enterprises remained at $3.88 in an exchange of 749 stocks, National Flour Mills ended at $2.20 after 38,408 units crossed the market. NCB Financial ended at $3.15 after a transfer of 30,000 shares, 
Prestige Holdings remained at $14, with 1,415 stock units crossing the exchange, Republic Financial remained at $119 with investors trading 5,985 stocks. Scotiabank dipped 10 cents to $70 after exchanging 1,374 shares, Trinidad & Tobago NGL rose 3 cents to close at $8.50 with investors dealing in 9,050 stocks, Trinidad Cement ended at $2.71 after 3,000 units passed through the market and Unilever Caribbean lost 22 cents in closing at $12.50 with investors swapping 1,828 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Trinidad Exchange
Declining and rising stocks shared the spotlight at the end of trading on the Trinidad and Tobago Stock Exchange on Tuesday, with 22 securities trading compared with 20 on Monday, ending with prices of six stocks rising, six declining and 10 closing unchanged and resulted in gains in market indices following a 20 percent fall in the volume of stocks traded valued 48 percent less than on Monday.
The market closed trading of 161,785 shares for $2,265,487 compared with 201,014 units at $4,371,462 on Monday.
An average of 7,354 shares were traded at $102,738 compared to 10,051 units at $218,573 on Monday, with trading month to date averaging 16,669 shares at $179,628 compared with 18,679 units at $196,215 on the previous day and an average for March of 28,236 shares at $236,496
The Composite Index advanced 7.22 points to end the day at 1,219.85, the All T&T Index popped 12.83 points to lock up trading at 1,836.03, the SME Index remained unchanged at 77.71 and the Cross-Listed Index gained 0.17 points to settle at 78.44.
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 remained at $69 with a transfer of 15 shares, Angostura Holdings increased 21 cents to $22.95 after investors traded 2,518 units, Ansa McAl ended at $57 after an exchange of 500 shares. 
Ansa Merchant Bank ended at $45.30 with 396 stocks clearing the market, Calypso Macro Investment Fund climbed 40 cents to end at $23 with investors swapping 40 shares, First Citizens Group dipped 1 cent to end trading at $48.10 after an exchange of 2,446 stock units. FirstCaribbean International Bank sank 3 cents in to $7.01 with investors trading 4,562 units, GraceKennedy ended at $4.07 after an exchange of 1,109 stocks, Guardian Holdings rose 95 cents to end at $19 with 4,896 shares crossing the market. Guardian Media remained at $2 with traders dealing in 400 stock units, JMMB Group ended at $1.50 in switching ownership of 3,519 units, Massy Holdings slipped 1 cent to finish at $4.36 with investors trading 77,673 stocks. National Enterprises lost 1 cent to end at $3.88 after 1,113 shares passed through the market, National Flour Mills remained at $2.20 and closed with an exchange of 11,000 stock units, NCB Financial gained 5 cents to end at $3.15 with 450 units changing hands. 
Point Lisas dipped 1 cent in closing at $3.70, with 11,177 stock units crossing the market, Prestige Holdings popped 50 cents and ended at $13 with investors dealing in 6,373 units, Republic Financial ended at $119 in an exchange of 8,927 shares. Scotiabank fell 40 cents to $70.10, with 1,452 stock units changing hands, Trinidad & Tobago NGL ended at $8.47 after a transfer of 14,747 stocks, Unilever Caribbean advanced 29 cents to finish at $12.55 as investors exchanged 2,582 shares and West Indian Tobacco remained at $15.50 in trading 5,890 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling prices dominate Trinidad stocks
Trading ended with 20 securities changing hands down from 23 on Friday, ending with prices of 10 stocks declining five rising and five ending unchanged on the Trinidad and Tobago Stock Exchange on Monday, following a 62 percent decline in the volume of stocks trading valued 53 percent less than on Friday.
The market closed trading of 201,014 shares for $4,371,462 compared with 533,983 stock units at $9,312,325 on Friday.
An average of 10,051 shares were traded at $218,573 compared to 23,217 units at $404,884 on Friday. Trading for the month to date averages 18,679 shares at $196,215 compared with 20,783 units at $190,760 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index shed 6.11 points to end at 1,212.63, the All T&T Index dipped 8.11 points to close at 1,823.20, the SME Index remained at 77.71 and the Cross-Listed Index dipped 0.56 points to close at 78.27.
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 of the market, Calypso Macro Investment Fund fell 40 cents and ended at $22.60 with investors swapping 507 shares, Endeavour Holdings advanced 25 cents to a 52 weeks’ high of $15 after a transfer of 8 units, First Citizens Group sank 39 cents to $48.11 in trading 1,343 stocks. 
FirstCaribbean International Bank ended at $7.04 after exchanging 16,870 units, GraceKennedy ended at $4.07 with 37,000 shares changing hands, Guardian Holdings dropped 45 cents to $18.05 with investors trading 28 stocks. L.J. Williams B share ended with an exchange of 5,000 stock units at $1.99, Massy Holdings slipped 3 cents to close at $4.37 with trading in 67,880 stocks, National Enterprises remained at $3.89 with, 18,813 shares changing hands. National Flour Mills ended at $2.20 with an exchange of 15 stocks, NCB Financial declined 5 cents in closing at $3.10, with 5,148 units crossing the market, One Caribbean Media shed 1 cent to finish at $3.82 with investors dealing in 3,030 stock units. Point Lisas skidded 39 cents and ended at $3.71 in an exchange of 3,000 shares, Prestige Holdings dipped 50 cents to $12.50 with 382 stocks clearing the market,
Republic Financial slipped 99 cents to close at $119 as investors exchanged 28,448 units. Scotiabank popped 50 cents to finish at $70.50 in trading 176 stock units, Trinidad & Tobago NGL fell 3 cents to end at a 52 weeks’ low of $8.47, with 554 shares crossing the exchange, Trinidad Cement added 2 cents in closing at $2.62 after swapping 100 stocks. Unilever Caribbean popped 1 cent to $12.26 with traders dealing in 189 units and West Indian Tobacco rose 1 cent to $15.50 after 12,523 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ enters ICTOP10 Broilers out
With what has become the norm, the markets pulled back to start April from the pump-up end of month prices in March, resulting in varied outcomes for the ICTOP10 and ending with Jamaica Broilers falling from the Main Market TOP10 and Caribbean Producers entering at the number 9 spot.
There were no changes to the list of companies in the Junior Market TOP10 this past week.
Caribbean Producers is the primary supplier of foods and beverages to the growing tourist industry on the north coast of Jamaica and St Lucia, the company is also expanding its meat processing arm as well as retail areas in both countries. ICInsider.com’s projected EPS is $1.35 for the fiscal year to June 2024. With plans for long term growth in the local tourism sector, the company has a B base for growth for many years to come.
Jamaica Broilers although out of the TOP10, is undervalued and possesses good long term growth prospects as they constantly spend resources to expand or modernise the operation.
In Main Market activity this past week, General Accident jumped 16 percent to $6.15, a 52 weeks’ high, with buying interest in recent weeks, being very high and active supply in the market low, a recipe for higher prices ahead and Key Insurance lost 14 percent to end at $2.22.
The Junior Market closed the week with a 17 percent jump for Iron Rock Insurance to $2.51 while Consolidated Bakeries gained 8 percent to $2.19 but Jamaican Teas dropped 13 percent to $2.40 and Caribbean Cream lost 8 percent to land at $3.58 while Express Catering and Access Financial fell by 7 percent to $3.70 and $19.86 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.1 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 183 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 106, with an average of 30 and 27 excluding the highest PE ratios, and a PE of 24 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2025 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.
Lasco companies out of ICTOP10
Shake up took place in the ICTOP10 with Lasco Manufacturing that closed up by 10 percent to $6.08 at the end of last week and Lasco Distributors that fell 7 percent to $4.25 and dropping out of the TOP10 following migration from the Junior to the Main Market last week Wednesday.
With the 2024 financial year ending in March, the two companies will see a bump in earnings for 2025 and likely put them in the ICTOP10 again. Since the switch in listing, the number of stocks offered for sale has declined sharply and so have the bids to buy.
Coming into the Junior Market listing are Consolidated Bakeries, while AMG Packaging returns after a weeks’ absence, with the price falling to $3.12 from $3.27, EPS for the Consolidated Bakeries is projected at 30 cents for 2024, pushing it into position 2. The company promised much with a good brand but has delivered inadequate returns since being listed in 2013, but the operations have been undergoing changes with more focus on higher margin products and less on the regular breads, that faces greater competition in the market. A review of the 2023 audited statements shows that cost jumped but this was mostly for big wage increases which should moderate in 2025. Investing in the company is not without risk but it should benefit from continued growth and improved employment in the local economy going forward that should result in revenues growing faster than cost.
There were no new listing in the Main Market, but 138 Student Living rose 10 percent to $4.19 and JMMB Group gained 6 percent to close trading last week at $26.50, while Palace Amusements shed 9 percent to $1.04 and General Accident fell 6 percent to $5.30.
The Junior Market closed last week in positive territory as Stationery & Office Supplies climbed 13 percent to $1.70 while, Jamaican Teas, ISP Finance and Lasco Manufacturing all gained 10 percent, Iron Rock Insurance dropped 15 percent to $2.14 and Lasco Distributors fell 7 percent to $4.25.
There were no changes to the list of companies in the Main Market TOP10 this past week.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.4 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 13.3.
The Main Market ICTOP10 is projected to gain an average of 270 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 178 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 106, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 24 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 23, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2024 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.
Rising stocks dominate Trinidad exchange trades
Trading on the Trinidad and Tobago Stock Exchange ended on Friday, with rising prices outdistancing those falling by a decent margin following a market session that ended with a mere 5 percent decline in the volume of stocks traded but with a 201 percent jump in value compared with Thursday and resulting in 23 securities trading up from 18 on Thursday and ending with prices of 11 stocks rising, six declining and six remaining unchanged.
The market closed on Friday with 533,983 shares trading for $9,312,325 compared with 564,243 stock units at $3,090,685 on Thursday.
An average of 23,217 shares were exchanged for $404,884 compared to 31,347 units at $171,705 on Thursday, with trading month to date averaging 20,783 shares at $190,760 compared with 19,834 units at $107,287 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index rallied 6.51 points to conclude trading at 1,218.74, the All T&T Index popped 14.10 points to cease trading at 1,831.31, the SME Index remained unchanged at 77.71 and the Cross-Listed Index dipped 0.22 points to 78.83.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $69 with traders dealing in 15 shares, Angostura Holdings advanced $2.63 to $22.74 in an exchange of 9,698 stocks, Ansa McAl ended at $57 with 17 shares clearing the market. Ansa Merchant Bank popped 20 cents to $45.30 with a transfer of 4,427 stock units, Calypso Macro Investment Fund ended at $23 after an exchange of 5,018 shares, First Citizens Group gained 39 cents and ended at $48.50 with investors trading 158 units. FirstCaribbean International Bank ended at $7.04 following an exchange of 21,825 stocks, GraceKennedy dipped 3 cents to close at $4.07 with investors trading 107,739 stock units, Guardian Holdings rose 50 cents in closing at $18.50 with 152 shares changing hands. Guardian Media remained at $2 after 50 stocks passed through the market, JMMB Group lost 1 cent to end at $1.50 as investors exchanged 7,592 units, L.J. Williams B share sank 1 cent to finish at $1.99 in trading 2,000 stock units. Massy Holdings rallied 4 cents to $4.40 after a transfer of 171,751 shares, National Enterprises shed 1 cent to finish at $3.89 and closed after 11,359 stock units were traded, National Flour Mills ended at $2.20 in an exchange of 21,240 stocks. 
NCB Financial dropped 6 cents in closing at $3.15 with investors dealing in 14,225 units, Prestige Holdings gained 50 cents to end at a 52 weeks’ high of $13 after trading 60,007 shares, Republic Financial climbed 49 cents to close at $119.99, with 44,227 stock units crossing the exchange. Scotiabank fell $1.50 to close at $70 with 9,733 units changing hands, Trinidad & Tobago NGL popped 5 cents to $8.50 with investors swapping 2,424 stock units, Trinidad Cement advanced 4 cents to end at $2.60 after 5,486 units crossed the market. Unilever Caribbean rose 25 cents in closing at $12.25 in switching ownership of 10,200 stocks and West Indian Tobacco gained $1.49 and ended at $15.49, with 24,640 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.