Trinidad and Tobago Stock Exchange rallied at the close of trading on Monday, following a mild decline in the volume of stocks traded with the value dropping 31 percent lower than on Friday and resulting in 22 active securities compared with 21 on Friday, with prices of seven stocks rising, nine declining and six remaining unchanged.
Investors exchanged 225,287 shares for $2,229,171 compared to 246,321 stock units at $3,238,280 on Friday.
An average of 10,240 shares were traded at $101,326 compared to 11,730 units at $154,204 on Friday, with trading month to date averaging 8,834 shares at $110,169 compared with 8,291 units at $113,585 on the previous trading day. The average trade for July amounts to 36,525 shares at $302,493.
The Composite Index rallied 2.98 points to 1,257.12, the All T&T Index gained 1.66 points to close at 1,910.91, the SME Index ended unchanged at 70.47 and the Cross-Listed Index gained 0.62 points to end at 78.02.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Angostura Holdings increased 5 cents to $22.55 after an exchange of 40 shares, Ansa McAl rose 50 cents and ended at $58.50 in exchanging 2 stocks, Calypso Macro Investment popped 25 cents to close at $22 in an exchange of 1,000 stock units, First Citizens Group advanced 75 cents to $50, with 8,720 units crossing the exchange. FirstCaribbean Bank ended at $7.04 as investors exchanged 286 stocks, GraceKennedy closed at $3.40 in trading 935 units, Guardian Holdings ended at $19 in swapping 15,613 stock units, Guardian Media ended at $2.20 in an exchange of 52 shares. JMMB Group slipped 1 cent to $1.33 after an exchange of 110,002 shares, L.J. Williams B share remained at $2.70 after trading 50 units, Massy Holdings lost 1 cent to end at $4.83 after a transfer of 19,133 stock units, National Enterprises fell 1 cent to close at $4.10, with 13,547 stocks changing hands. NCB Financial climbed 13 cents to $3.50, with 2,462 units crossing the market, 
One Caribbean Media rallied 5 cents in closing at $3.75 after 650 shares crossed the exchange, Point Lisas dipped 5 cents to $3.74 with investors swapping 600 stocks, Prestige Holdings shed 30 cents to end at $7.65 after 1,161 stock units passed through the market. Republic Financial dropped 50 cents to $127, with a transfer of 5,550 units, Scotiabank declined $1.19 in closing at $74 with an exchange of 3,708 stocks, Trinidad & Tobago NGL dipped 1 cent to close at $17.69 with 228 shares clearing the market. Trinidad Cement ended at $3 with 36,913 stock units changing hands, Unilever Caribbean lost 49 cents to close at $11.70 with stakeholders exchanging 4,070 shares and West Indian Tobacco rose 3 cents to $11.36 with investors transferring 565 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declining TTSE stocks edged out advancers
Rising stocks push Trinidad Exchange up
Trading ended on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded rising 133 percent with the value 103 percent more than on Thursday resulting from trading in 21 securities compared with 16 on Thursday, with 12 stocks rising, one declining and eight remaining unchanged.
Investors exchanged 246,321 shares for $3,238,280 compared to 105,583 stock units at $1,596,445 on Thursday.
An average of 11,730 shares were traded at $154,204 compared to 6,599 units at $99,778 on Thursday. Trading month to date averaged 8,291 shares at $113,585 compared with 6,286 units at $89,894 on the previous day. The average trade for July amounts to 36,525 shares at $302,493.
The Composite Index popped 11.70 points to 1,254.14, the All T&T Index jumped 22.43 points to 1,909.25 and the SME Index ended at 77.40.
Investor’s Choice bid-offer indicator shows none stock ended with a bid higher than the last selling price and six with lower offers.
At the close, Agostini’s rose 50 cents to end at $68.50 with a transfer of 4,007 shares, Angostura Holdings remained at $22.50 and closed with an exchange of 50 stocks, Ansa McAl increased $3 to close at $58, with 4,898 stock units crossing the market, Calypso Macro Investment Fund shed 5 cents to $21.75 in trading 2 units. Endeavour Holdings ended at $13 with shareholders swapping 5 stocks, First Citizens Group rallied 25 cents to close at $49.25 with an exchange of 4,582 shares, FirstCaribbean International Bank ended at $7.04 after 844 stock units passed through the market, GraceKennedy remained at $3.40 with investors exchanging 115,710 units. Guardian Holdings remained at $19 after 15,001 shares changed hands, JMMB Group ended at $1.34 in trading 1,550 stock units, L.J. Williams B share ended at $2.70 after a transfer of 1,005 stocks, Massy Holdings gained 31 cents ended at $4.84 in an exchange of 36,361 units. National Enterprises popped 7 cents in closing at $4.11 while exchanging 9,600 shares, 
One Caribbean Media advanced 1 cent to $3.70 with 1,800 stocks clearing the market, Prestige Holdings climbed 35 cents to $7.95, with 1,666 stock units changing hands, Republic Financial ended at $127.50 after an exchange of 6,824 units. Scotiabank advanced 19 cents to end at $75.19, with 2,505 stocks crossing the market, Trinidad & Tobago NGL rallied 1 cent to $17.70 in switching ownership of 4,343 shares, Trinidad Cement increased 15 cents in closing at $3, with 3,166 units crossing the exchange, Unilever Caribbean climbed 64 cents and ended at $12.19 in an exchange of 27,381 stock units and West Indian Tobacco rose 8 cents in closing at $11.33 as investors exchanged 5,021 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Decline continues on Trinidad Exchange
Trading ended on the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded declining 13 percent with the value 3 percent lower than on Wednesday resulting in 16 securities trading compared with 20 on Wednesday, with four stocks rising, six declining and six remaining unchanged.
Investors exchanged 105,583 shares for $1,596,445 versus 120,710 stock units at $1,639,902 on Wednesday.
An average of 6,599 shares were exchanged at $99,778 compared with 6,036 units at $81,995 on Wednesday, with trading month to date averaging 6,286 shares at $89,894. The average trade for July amounts to 36,525 shares at $302,493.
The Composite Index shed 3.89 points to 1,242.44, the All T&T Index dropped 7.83 points to 1,886.82, the SME Index remained at 70.47 and the Cross-Listed Index rose 0.04 points to 77.37.
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, Calypso Macro Investment Fund climbed 10 cents to $21.80 with an exchange of 782 shares, First Citizens ended at $49, with trading in 20,280 units, FirstCaribbean International Bank closed at $7.04 after an exchange of 2,704 stocks, GraceKennedy closed at $3.40 with trading in 20,458 stock units. Guardian Holdings ended at $19 with a transfer of 23 stocks, JMMB Group remained at $1.34 after investors exchanged 1,551 stock units, Massy Holdings lost 31 cents in closing at $4.53 after 30,614 shares were traded, National Enterprises dipped 7 cents to $4.04 with dealings in 12,163 units. NCB Financial shed 8 cents in closing at $3.3, with 3,000 stock units crossing the market, 
One Caribbean Media dipped 2 cents to $3.69, with stakeholders trading in 500 units clearing the market, Prestige Holdings popped 8 cents to close at $7.60, with dealings in 320 stocks, Republic Financial increased 50 cents to end at $127.50 after exchanging 663 shares, Scotiabank fell 19 cents to $75 in switching ownership of 597 shares, Trinidad & Tobago NGL ended at $17.69, with 3,820 units changing hands, Unilever Caribbean declined 55 cents in closing at $11.55 in an exchange of 963 stocks and West Indian Tobacco rallied 1 cent to $11.25 after an exchange of 7,145 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
7 love for Trinidad Stock Exchange
Trading ended on the Trinidad and Tobago Stock Exchange on Wednesday, with the prices of seven stocks declining and 13 remaining unchanged with none recording gains even as the volume of stocks traded rose 18 percent with the value climbing 22 percent more than on Monday, resulting in 20 securities trading as was the case on Monday.
Investors exchanged 120,710 shares at $1,639,902 versus 102,180 stock units at $1,347,229 on Monday.
An average of 6,036 shares were traded at $81,995 compared to 5,109 shares at $67,361 on Monday. The average trade for July amounts to 36,525 shares at $302,493.
The Composite Index declined by 1.54 points to 1,246.33, the All T&T Index popped 0.92 points to 1,894.65, the SME Index remained at 70.47 and the Cross-Listed Index dipped 0.58 points to end at 77.33.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s shed 50 cents to end at $68 in an exchange of 1,394 shares, Angostura Holdings ended at $22.50 after a transfer of 2,392 units, Ansa McAl remained at $55 after 201 stock units were traded, Calypso Macro Investment Fund declined 10 cents in closing at $21.70, with 244 stocks changing hands, Endeavour Holdings remained at $13 while exchanging 75 units. First Citizens Group ended at $49 with an exchange of 1,635 shares, FirstCaribbean International Bank ended at $7.04 with 800 stocks crossing the exchange, GraceKennedy remained at $3.40 as investors exchanged 27,970 stock units, Guardian Holdings ended at $19 with investors transferring 64 units.
JMMB Group fell 1 cent in closing at $1.34 with a transfer of 200 stocks, L.J. Williams B share closed at $2.70 with stakeholders exchanging 1,805 shares, Massy Holdings dipped 1 cent to $4.84 18,399 stock units passed through the market, National Enterprises ended at $4.11 after an exchange of 22,197 shares. NCB Financial closed at $3.45 with 10,249 stock units crossing the market, One Caribbean Media ended at $3.71 after an exchange of 81 units, Prestige Holdings dropped 8 cents in closing at $7.52 with 1,002 stocks changing hands. Republic Financial lost 50 cents and ended at $127 with 4,343 shares crossing the market, Scotiabank remained at $75.19 in trading 1,726 stock units, Trinidad & Tobago NGL fell 21 cents to close at $17.69 after an exchange of 11,896 units and Unilever Caribbean ended at $12.10 with shareholders swapping 14,037 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks dominate trading on TTSE
Trading ended on the Trinidad and Tobago Stock Exchange on Monday, with a 20 percent decline in the volume of stocks traded with a 23 percent lower value than on Friday, resulting in 20 securities trading up frTom 18 on Friday, and closed with prices of four stocks rising, ten declining and six remaining unchanged.
Investors exchanged 102,180 shares for $1,347,229 versus 127,604 stock units at $1,742,276 on Friday.
An average of 5,109 shares were traded at $67,361 compared with 7,089 units at $96,793 on Friday. Trading month to date averaged 36,525 shares at $302,493 down from 38,157 units at $314,708 on the previous trading day. The average trade for June amounts to 23,515 shares at $224,325.
The Composite Index dipped 2.24 points to 1,247.87, the All T&T Index shed 2.42 points to close at 1,893.73, the SME Index remained unchanged at 70.47 and the Cross-Listed Index lost 0.29 points to end at 77.91.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and three with lower offers.
At the close, Angostura Holdings remained at $22.50, with 852 shares clearing the market, Ansa McAl added $1 and ended at $55 with shareholders swapping 225 stocks, 
Calypso Macro Investment Fund popped 10 cents to close at $21.80 with a transfer of 1,769 stock units, Endeavour Holdings ended at $13 in trading 190 units. First Citizens Group slipped 1 cent to $49 after an exchange of 3,898 units, FirstCaribbean International Bank dipped 1 cent to $7.04 in switching ownership of 20 shares, Guardian Holdings rose 34 cents to close at $19 after 5,471 units passed through the market, JMMB Group dipped 4 cents to end at $1.35 in an exchange of 18,300 stocks. L.J. Williams B share ended at $2.70, with 100 stocks changing hands, Massy Holdings shed 10 cents in closing at $4.85 after an exchange of 664 shares, National Enterprises advanced 11 cents to $4.11 as investors exchanged 10,606 stock units, National Flour Mills remained at $1.63, with 10,088 units crossing the market. NCB Financial ended at $3.45, with investors trading 637 stock units, 
One Caribbean Media fell 3 cents to close at $3.71 after a transfer of 819 units, Prestige Holdings declined 35 cents to $7.60 with an exchange of 99 stocks, Republic Financial shed 25 cents to end at $127.50 after investors ended exchanging 1,267 shares. Scotiabank declined 30 cents to $75.19, with 797 units crossing the market, Trinidad & Tobago NGL remained at $17.90 with an exchange of 22,398 stock units, Unilever Caribbean dipped 9 cents to $12.10 with investors transferring 334 stocks and West Indian Tobacco lost 1 cent to close at $11.24, with stakeholders exchanging 23,646 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Solid gains for ICTOP10 stocks
Junior Market stocks put in an outstanding performance ranging from 13 to 38 percent, with declines being far lower, with the top losers suffering a ten percent fall after five stocks slipped on the ICOP10 and three stocks recorded strong gains. The Main Market TOP10 was far less robust, with gainers hitting 13 percent at the top and losers 6 percent and less.
Margaritaville Turks could land big gains.
With the healthy price movements, three new additions to the TOP10 lists are added this week. Margaritaville is now topping the Main Market Top 10, with potential gains of 820 percent as the company made a major leap forward in fortunes, following the rebound in tourism traffic in the region and Caribbean Producers fell out of the TOP10 with a 4 percent price rise for the week. Image Plus Consultants and Iron Rock Insurance return to the Junior Market ICTOP10 as Dolla Financial and Elite Diagnostics enjoyed considerable price recoveries and dropped out.
For the week, five Junior Market TOP10 stocks rose and five declined, while the Main Market ended with four rising and only two falling.
In the Junior Market, Dolla Financial was the star performer as it recovered from a 9 percent drop last to $2.08 to post a stunning 38 percent jump to $2.88, following news that Supreme Ventures acquired 15 percent of the company, but before a report that the CEO Kadeen Mairs resigned. Elite Diagnostics jumped 29 percent to $2 after falling the previous week to $1.55 and Dolphin Cove rose 13 percent to $16.88, also rising are iCreate and OneonOne, with gains of 5 percent to $1.05, respectively. Falling stocks include Everything Fresh, down 10 percent to $1.37, Caribbean Cream, followed by shedding 8 percent to $4.15, General Accident, fell 6 percent to $4.70 and Caribbean Assurance Brokers, lost 4 percent to end at $2.99.
In the Main Market, Caribbean Cement climbed 13 percent to $57.60, but that was before the company released six months’ results, with profit ending at $2.87 following a blowout second quarter with earnings of $2.53 per share and now seems on target for $8 for the year. Sygnus Credit Investments rose nine percent to $12.12, but JMMB Group fell six percent to $27.20 and Guardian Holdings slipped 4 percent to $438.
Elsewhere in the market, Lasco Distributors and Lasco Manufacturing released first quarter results, with a rise in profits for both. Pretax profit at Lasco Distributors jumped a robust 57 percent to $602 million and post-tax climbed a solid 38 percent to $448 million and resulted in ICInsider.com upgrading earnings for the full year to 65 cents from 55 cents previously. Lasco Manufacturing’s performance was more subdued, with pretax profit rising 28 percent and aftertax 27 percent to $721 million and $526 million, respectively and are in line with ICInsider.com’s full year’s forecast of 70 cents per share. Both companies are just outside the ICTOP10 but are ICBUYRATED with good upside potential.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 326 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 95, with an average of 30 and 21 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.8 compared with the market at 11. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 39, averaging 20, well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 248 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
Investors continue to nibble away at a number of stocks and gradually reducing the supply of several of them that are attractively priced as the market moves through the summer months, the start of the stock market year when new results will be coming to the market for investors to assess and determine what to do.
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 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, 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.
Low keyed trading on Trinidad Exchange
Trading remained low-keyed on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded declining 14 percent with a 27 percent greater value than Thursday, resulting in 18 securities trading compared with 20 on Thursday, with four stocks rising, six declining and eight remaining unchanged.
Investors exchanged 127,604 shares for $1,742,276 compared to 148,353 stock units at $1,369,176 on Thursday.
An average of 7,089 shares were traded at $96,793 compared to 7,418 shares at $68,459 on Thursday, with trading month to date averaging 38,157 shares at $314,708 compared to 39,680 units at $325,396 on the previous day. The average trade for June amounted to 23,515 shares at $224,325.
The Composite Index dipped 2.00 points to 1,250.11, the All T&T Index shed 3.88 points to close at 1,896.15, the SME Index slipped 0.12 points to finish at 70.47 and the Cross-Listed Index remained at 78.20.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Agostini’s ended with trading of 489 shares at $68.50, Angostura Holdings declined 50 cents to $22.50, with 1,256 units changing hands, Ansa McAl remained at $54 in an exchange of 180 stocks, Calypso Macro Investment Fund ended at $21.70, with 622 stock units crossing the market. CinemaOne dipped 10 cents to close at $7.40 with investors transferring 150 stock units, First Citizens Group ended at $49.01 in trading 600 stocks, GraceKennedy remained at $3.40 as investors exchanged 251 units, Guardian Holdings rallied 1 cent to end at $18.66 in an exchange of 1,258 shares, Massy Holdings ended at $4.95 as 38,158 units passed through the market. National Enterprises ended at $4 after an exchange of 48,831 stock units, National Flour Mills ended at $1.63, with 852 shares crossing the exchange, One Caribbean Media dipped 8 cents to close at $3.74 with a transfer of 14 stocks. 
Prestige Holdings climbed 44 cents to $7.95 and closed with an exchange of 128 stock units, Republic Financial shed 8 cents to end at $127.75 while exchanging 5,678 units, Scotiabank advanced 19 cents and ended at $75.49 with a transfer of 1,803 shares. Trinidad & Tobago NGL lost 10 cents at $17.90, with 7,000 stocks crossing the market, Unilever Caribbean popped 4 cents to end at $12.19 in switching ownership of 506 units and West Indian Tobacco fell 12 cents to close at $11.25 with 19,828 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs, prices mostly fall on Trinidad Exchange
Trading ended with the volume and value of stocks passing through the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded rising 158 percent and the value 41 percent more than the moderate level of trading on Wednesday, resulting in trading in 20 securities up from 16 on Wednesday and ended with prices of five stocks rising, nine declining and six remaining unchanged.
Investors exchanged 148,353 shares with $1,369,176 versus 57,419 stock units at $973,648 on Wednesday.
An average of 7,418 shares were traded at $68,459 compared to 3,589 shares at $60,853 on Wednesday, with trading month to date averaging 39,680 units at $325,396 compared to 41,540 units at $340,205 on the previous day. The average trade for June amounts to 23,515 shares at $224,325.
The Composite Index slipped 2.13 points to 1,252.11, the All T&T Index declined 2.81 points to 1,900.03, the SME Index rose 0.23 points to end at 70.59 and the Cross-Listed Index dipped 0.20 points to conclude trading at 78.20.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s ended at $68.50 after 3,667 shares passed through the market, Angostura Holdings declined 20 cents in closing at $23 after a transfer of just 4 stock units, 
Ansa Merchant Bank dropped 33 cents to close at $46.67, with 466 stocks crossing the market, Calypso Macro Investment Fund shed 10 cents to close at $21.70 with investors swapping 778 units. CinemaOne gained 20 cents to end at $7.50 with stakeholders trading 27 units, Endeavour Holdings ended at $13 after 9 shares change hands, First Citizens Group rose 1 cent to $49.01 as investors exchanged 865 stocks, FirstCaribbean International Bank rose 2 cents in closing at $7.05 while 5,060 stock units were traded. JMMB Group remained at $1.39, with 3,515 stock units changing hands, L.J. Williams B share ended at $2.70 after exchanging 132 shares, Massy Holdings fell 1 cent and ended at $4.95, with 78,501 units crossing the exchange, National Enterprises lost 12 cents to end at $4 with shareholders swapping 19,536 stocks. National Flour Mills ended at $1.63 after exchanging 40 units, 
NCB Financial dipped 5 cents to $3.45, with 500 stocks crossing the market, Republic Financial lost 17 cents in closing at $127.83 with a transfer of 42 shares, Scotiabank declined 10 cents in ending at $75.30 after an exchange of 941 stock units. Trinidad & Tobago NGL popped 5 cents in closing at $18 in trading 10,785 shares, Trinidad Cement rallied 20 cents to close at $2.85 with 700 stocks clearing the market, Unilever Caribbean ended at $12.15 closed at 166 units and West Indian Tobacco dipped 3 cents to close at $11.37 in trading 22,619 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunged on the Trinidad Exchange
Trading plunged on the Trinidad and Tobago Stock Exchange on Tuesday, with 69 percent decline in the volume of stocks traded valued 92 percent less than Monday’s trades, resulting from trading in 16 securities down from 20 on Monday, with prices of four stocks rising, four declining and eight remaining unchanged.
Investors exchanged 70,137 shares at $938,525 versus 229,388 stock units at $11,529,097 on Monday.
An average of 4,384 shares were traded at $58,658 compared to 11,469 stock units at $576,455 on Monday. Trading month to date averages 43,374 shares at $353,708 compared to 45,355 units at $368,695 on the previous day. The average trade for June ended at 23,515 shares at $224,325.
The Composite Index dipped 1.84 points to close at 1,255.11, the All T&T Index shed 1.76 points to close at 1,904.52, the SME Index was unchanged at 70.36 and the Cross-Listed Index lost 0.27 points to end at 78.40.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Agostini’s fell 30 cents to $68.20 after an exchange of 73 shares, Angostura Holdings ended at $23.20, with 50 stock units being traded, Calypso Macro Investment Fund traded 100 stocks at $21.50. First Citizens Group rallied $1 to $50, with 830 units being traded, FirstCaribbean International Bank ended at $7.05, with trading of 3,000 stocks, GraceKennedy dipped 3 cents and ended at $3.40 after an exchange of 3,400 units. Guardian Holdings dropped 35 cents to end at $18.65 in trading 2,796 stocks, JMMB Group remained at $1.39 after a transfer of 2,124 shares, Massy Holdings rose 1 cent to $4.96 in switching ownership of 20,644 units.
National Enterprises remained at $4.14 as investors exchanged 11,050 stocks, NCB Financial ended at $3.50 in an exchange of 15,034 stock units, Republic Financial increased 44 cents to $128.99 as 834 shares passed through the market. Scotiabank ended at $75.50 with 4,467 stocks crossing the market, Trinidad & Tobago NGL slipped 4 cents to $17.96 with 2,155 units changing hands, Unilever Caribbean popped $1.20 to end at $12.20 in an exchange of 1,560 stock units and West Indian Tobacco remained at $11.30 trading 20 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Major price changes for ICTOP10
The past week was one of contrast, with the Main Market rising and the Junior Market declining moderately, as the ICOP10 stocks recorded mixed results ranging from increases of 21 percent and losses of as much as 12 percent, at the same time, Transjamacian Highway that ended last week at $2.78, came under selling pressure on Friday and closed at $2.50 after reaching a record high of $2.88 on Monday and continues to a great buy, especially with the price pulling back.
Guardian Holdings jumped 21 percent during the week
For the week, 5 Junior Market TOP10 stocks declined and just two rose, while the Main Market ended with 5 rising and 4 declining. Image Plus closed at a record high on Friday and dropped out of the TOP10 along with Iron Rock Insurance. Everything Fresh and Elite Diagnostic replaced them, with the latter dropping to a record low of $1.55. There were no changes to the listing for the Main Market TOP10.
In the Junior Market, Image Plus having listed in January this year and never got the usual big IPO bounce, now seems to be just coming into its own, with a 20 percent jump to close the week at $2.50 after the price hit a record high of $2.60 on Friday and was followed by Caribbean Cream, up 10 percent to $4.49 as declining stocks dominated the week with iCreate dropping 12 percent to $1, followed by Dolla Financial shedding 9 percent to $2.08, with Dolphin Cove and OneonOne falling 8 percent to $15 and $1 respectively.
Guardian Holdings jumped 21 percent to $455, following changes in NCB Financial top management team, while Caribbean Producers rose 8 percent to $10.77, Sygnus Credit 
Investments fell 12 percent to $11.17 and Caribbean Cement slipped 9 percent to $50.03.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 256 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 98, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.6 compared with the market at 11.1. There are 9 stocks representing 19 percent of the market, with PEs from 15 to 41, averaging 21 that are well above the average of the market. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently and projected to rise by 264 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
Investors continue to nibble away at a number of stocks and gradually reducing the supply of several of them that are attractively priced as the market moves through the summer months, the start of the stock market year when new results will be coming to the market for investors to assess and determine what to do.
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 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.