Stocks sold off in the past week on the Jamaica Stock Exchange with Junior Market stocks that gained 4 percent during the prior week lost 1.8 percent and the Main Market slipped by nearly 3 percent by the end of the week, not a healthy sign for ICI Top 10 stocks.
Market movements resulted in prices of just two stocks rising and four declining in the Junior Market TOP10 stocks while the Main Market TOP10 ended with three gaining and five falling.
In the Junior Market ICTOP10, Express Catering gained 8 percent to close at $3.30, while Limners and Bards fell by 8 percent to $1.21. Caribbean Flavours followed with a 4 percent fall to $1.25 and Access Financial declined by 3 percent to close at $17.99.
In the Main Market ICTOP10, Key Insurance gained 4 percent to close at $2.29. Scotia Group and Berger Paints lost 5 percent in closing at $56.97 and $7.90 respectively and VM Investment lost 4 percent to close at $2.39.
The JSE TOP10, compiled from all listed ordinary stocks on the Jamaica Stock Estate ended with Lasco Distributors dropping out and replaced by JMMB Group.
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MMB Group returns to the Main Market ICTOP10 after a week’s absence, replacing Caribbean Producers. There is no change in the Junior Market ICTOP10 list.
The average PE for the JSE Main Market ICTOP 10 sits at just 5.4, well below the market average of 14.5 and the Junior Market TOP10 stands at 8.5, more than half of the market, with an average of 13.7.
Based on the earnings projected estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 282 percent by May 2025, providing better values than the Junior Market, projected to achieve a 151 percent increase for the same period.
In the Main Market ICTOP 10, there are 14 stocks with the highest values representing 27 percent of the Main Market, with PEs between 15 to 107, with an average of 31 and 23 excluding the highest PE ratios and a PE of 24 for the top half of the market with the highest values and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10, 16 stocks or 33 percent of the market have PEs ranging from 15 to 32 with an average of 19 and a PE of 18 for half of the market with the highest PEs.
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, 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.
In the Main Market ICTOP10, Scotia Group gained 13 percent to end at $62.00, Jamaica Broilers rose 4 percent in closing at $38.60 and Caribbean Producers declined 6 percent to $8.45.
Based on the earnings projected estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, providing better values than the Junior Market, projected to achieve a 154 percent increase for the same time.
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.
Only three stocks rose and six declined in the Junior Market ICTOP10 during the week. The Main Market ICTOP10 ended with six stocks gaining and just two declining. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had one change, with Jamaica Broilers replacing Caribbean Cream. Guardian Holdings with the potential to gain 436 percent continues to hold the number one spot in the market with 138 Student Living at number 2 in the All JSE ICTOP10. Elite Diagnostics holds the number one spot in the Junior Market TOP10 followed by Express Catering.
The Main Market ICTOP10 Berger Paints added 13 percent to close at $8.34, Caribbean Producers and Scotia Group rose 6 percent to close at $9 and $55, Key Insurance and QWI Investments propped 5 percent to $2.30 and 90 cents respectively.
In the Junior Market IC TOP10 are 14 stocks, 29 percent of the market, with PEs ranging from 15 to 31 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
Just two stocks fell and 8 rose in the Junior Market ICTOP10 during the week, reversing last week’s adverse movement of just two rising and 8 falling. The performance of the Main Market ICTOP10 resulted in three stocks gaining while four declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. JMMB Group returns to the All JSETOP10 following a week’s absence along with Caribbean Producers, replacing the Junior Market, Access Financial and AMG Packaging. 
In Main Market ICTOP10 activity, Berger Paints shed 14 percent to close at $7.36, Key Insurance dropped 10 percent to $2.20, Caribbean Producers and Scotia Group lost 5 percent to $8.50 and $52 respectively.
In the Junior Market IC TOP10 are 12 stocks, 25 percent of the market, with PEs ranging from 15 to 32 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
The week’s movement resulted in just two stocks rising and 8 falling, with five suffering big losses in the Junior Market ICTOP10. The performance of the Main Market ICTOP10 was in sharp contrast to the Junior Market, as five stocks gained and only two declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. Key Insurance returns to the All JSETOP10 following a week’s absence and Access Financial returns, replacing JMMB Group and Pulse Investments, with earnings for both revised downward, following the release of September results.
In the Junior Market IC TOP10, Iron Rock Insurance was the only stock with a noteable gain, with the price rising 19 percent to $4.29. Lumber Depot dropped 22 percent to $2.08, Caribbean Flavours dived 14 percent to end trading at $1.20, Caribbean Assurance shed 13 percent to end at 2.51 and Express Catering fell 11 percent to $3.01.
The average PE for the JSE Main Market ICTOP 10 stands at just 5.6, well below the market average of 14.9 and the Junior Market TOP10 sits at 7.5, more than half of the market, with an average of 13.
The JSE Composite Index rose 10,029 points for a 3.11 percent gain for the week and 1.8 percent for the year to date, as the market takes on a more bullish tone, ahead of the close for the year.
After dropping out of the Junior Market ICTOP10 last week, Image Plus returns, replacing Knutsford Express.
In the Junior Market IC TOP10 are 12 stocks, 25 percent of the market, with PEs ranging from 15 to 33 with an average of 22 and a PE of 18 for half of the market with the highest PEs.
The week’s movement resulted in just one stock rising and seven falling in the Junior Market ICTOP10. In contrast to the Junior Market, only two stocks declined the Main Market TOP10 and six gained. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, has Guardian Holdings with the potential to rise 433 percent taking back the number one spot from Pulse Investments that held it last week and ended with the price jumping sharply, reducing its potential gains to 335 percent from 500 percent last week. Caribbean Cream replaced NCB Financial in the All JSE TOP10.
In Main Market ICTOP10 activity, Pulse Investments recovering from a sharp fall in the previous week, jumped a solid 38 percent to $1.38, Key Insurance gained 8 percent after ending at $2.15, 138 Student Living gained 6 percent to close at $4.27 followed by Margaritaville and Scotia Group up 4 percent to $12.50 and $53.89 respectively. Berger Paints fell 10 percent to $7.01.
In the Junior Market IC TOP10 are 13 stocks, 21 percent of the market, with PEs ranging from 15 to 31 with an average of 21 and a PE of 18 for half of the market with the highest PEs.