Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday, with the volume of stocks traded being marginally less than on Wednesday with 41 securities trading compared with 44 previously and ended with 14 rising, 24 declining and three closing unchanged.
Investors traded 4,860,312 shares for $11,208,181 down marginally from 5,058,766 units at $11,709,970 on Wednesday.
Trading averaged 118,544 shares at $273,370, compared with 114,972 units at $266,136 on Wednesday, with the month to date, averaging 115,601 units at 287,180 compared to 114,865 stock units at $290,632 on the previous day. August closed with an average of 183,001 units at $460,354.
Future Energy Source led trading with 1.41 million shares for 29 percent of total volume, Jetcon Corporation followed with 952,217 units for 19.6 percent of the day’s trade and Spur Tree Spices with 571,162 units for 11.8 percent market share.
At the close, the Junior Market Index rallied 16.62 points to 3,800.94.
The PE Ratio, a measure of computing appropriate stock values, averages 10.5. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging increased 17 cents to $2.52 in an exchange of 15 shares, CAC 2000 lost 26 cents to end at a 52 weeks’ low of $3.52 after 1,976 stock units passed through the market, Cargo Handlers shed 45 cents and ended at $13.50 in switching ownership of 1,632 units, Caribbean Assurance Brokers rose 8 cents to close at $2.83 with investors dealing in 1,800 stocks. Dolphin Cove dropped 92 cents in closing at $16.06 after trading 2,700 shares, EduFocal dipped 12 cents in closing at $1.40 and closed, with an exchange of 51,381 units, Everything Fresh rallied 13 cents to $1.50, with 2,869 stocks crossing the market, Fontana skidded 30 cents to close at $10.60, with 10,679 stock units changing hands. Fosrich advanced 8 cents to end at $2.03 with investors exchanging 186,964 units, 
Future Energy Source climbed 8 cents and ended at $3.44 with trading in 1,407,267 stock units, General Accident gained 10 cents in closing at $5 with 40,200 shares clearing the market, Knutsford Express popped 50 cents to close at $11.50 as investors exchanged 1,249 stocks. Limners and Bards fell 15 cents to $1.75 in an exchange of 208,234 shares, Lumber Depot declined 8 cents to end at $2.20 with traders dealing in 9,921 units, Main Event shed 94 cents and ended at $15.06 after a transfer of 2,076 stocks, Medical Disposables dropped 15 cents and ended at $4.10 after investors exchanged 1,000 stock units. MFS Capital Partners fell 13 cents to end at $2.36 with a transfer of 66,700 stocks, Spur Tree Spices skidded 9 cents in closing at $2.04 while exchanging 571,162 stock units, 
Stationery and Office Supplies advanced 10 cents to close at $1.97, with 254,738 shares crossing the market and tTech dipped 15 cents to $2.20 after 100 units were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
114 points plunge for Junior Market
The Junior Market suffered a big fall on the Jamaica Stock Exchange on Wednesday, with the Market Index plunging 114.23 points to close at 3,784.32, even with a 64 percent jump in the 
volume of stocks traded, with a 58 percent higher value than on Tuesday following trading of 44 securities compared with 42 on Tuesday and ending with declining stocks outpacing those rising with a near 2 to 1 ratio, with prices of 11 rising, 20 falling and 13 unchanged.
Investors traded 5,058,766 shares for $11,709,970, up from 3,076,541 units at $7,411,897 on Tuesday.
Trading averaged 114,972 shares at $266,136 compared with 73,251 units at $176,474 on Tuesday. Trading for the month to date averages 114,865 stocks at $290,632 compared with 114,825 stock units at $299,614 on the previous day. August closed with an average of 183,001 units at $460,354.
ONE on ONE Educational led trading with 884,388 shares for 17.5 percent of the volume followed by Future Energy Source with 843,103 units for 16.7 percent of market share and Fosrich with 566,123 units for 11.2 percent of the day’s trade.
The PE Ratio, a measure used to calculate appropriate stock values, averages 10.6 for Junior Market stocks and is arrived at using the last traded price and ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial skidded $4.97 in closing at $23.03 after an exchange of 6,904 shares, Blue Power rose 9 cents to $2.39, with 111 stocks clearing the market, CAC 2000 dropped $1.22 to end at a 52 weeks’ low of $3.78 as investors exchanged just 2,029 units, Cargo Handlers shed $2.46 to close at $13.95, with 665 stock units crossing the market. Elite Diagnostic gained 24 cents to end at $1.84 with investors trading 484 shares, 
Everything Fresh dipped 17 cents to close at $1.37 while exchanging 7,500 units, Fontana dropped 28 cents in closing at $10.90 as 50,928 stock units passed through the market, Future Energy Source lost 14 cents to close at $3.36, with 843,103 stocks changing hands. Honey Bun climbed 15 cents to end at $6.55 in an exchange of 1,807 stocks, Image Plus Consultants fell 12 cents to $2.06 with 44,708 units changing hands, ISP Finance dropped 50 cents in closing at $34, with investors transferring just one share, Knutsford Express shed 50 cents to close at $11 with 3,401 stock units crossing the exchange. Lasco Manufacturing dipped 20 cents and ended at $5.20 in switching ownership of 58,650 units, Main Event fell 98 cents to end at $16 after closing with 47,587 stock units in trade being traded and
tTech rallied 15 cents to close at $2.35 with traders dealing in 2,000 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rally for Junior Market
Trading contracted on the Junior Market of the Jamaica Stock Exchange on Tuesday, with a 22 percent decline in the volume of stocks traded following 17 percent fewer funds passing through the market than Monday with trading in 42 securities compared with 40 on Monday and ended with 18 rising, 18 declining a sifter six closed unchanged.
Investors traded 3,076,541 shares for $7,411,897, down from 3,939,621 units at $8,927,792 on Monday.
Trading averaged 73,251 shares at $176,474, down from 98,491 units at $223,195 on Monday, with a month to date average of 114,825 stock units at $299,614 compared with 137,212 stock units at $365,921 on the previous day. August closed with an average of 183,001 units at $460,354.
Jetcon Corporation led trading with 537,354 shares for 17.5 percent of total volume followed by Future Energy Source with 365,720 units for 11.9 percent of the day’s trade and Medical Disposables with 345,634 units for 11.2 percent market share.
At the close, the Junior Market Index rallied 26.05 points to end trading at 3,898.55.
The PE Ratio, a measure of computing appropriate stock values, averages 10.8. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Access Financial climbed $2 and ended at $28 with investors dealing in a mere 76 shares, AMG Packaging dipped 18 cents to $2.35 in an exchange of 37 stocks, Blue Power increased 22 cents to $2.30 as investors traded 4,830 units, Caribbean Assurance Brokers dipped 11 cents to $2.75 with stakeholders exchanging 12,056 stock units. Consolidated Bakeries skidded 29 cents to end at $2.31 and closed with 1,000 stocks changing hands, Dolla Financial rose 25 cents to $2.50, with 173,962 stock units clearing the market, Elite Diagnostic fell 25 cents and ended at $1.60 with a transfer of 11,704 shares, Fontana lost 7 cents to end at $11.18 after 29,817 units passed through the market. 
General Accident advanced 41 cents to close at $4.90 with investors swapping 26,440 stocks, GWest Corporation declined 12 cents to 88 cents, with investors trading 26,400 stock units, Honey Bun shed 9 cents to finish at $6.40, with 15,912 shares crossing the market, ISP Finance popped $2.50 to close at $34.50 after 10 units crossed the market. Knutsford Express rallied 25 cents to end at $11.50 after an exchange of 4,581 units, Lasco Distributors gained 19 cents in closing at $4.39 while exchanging 2,000 shares, Limners and Bards lost 8 cents and ended at $1.90, with 20,020 stocks crossing the exchange, Lumber Depot climbed 37 cents to close at $2.28 after a transfer of 3,602 stock units. Main Event shed 27 cents to and at $16.98 in an exchange of 2,268 stock units, 
Stationery and Office Supplies skidded 7 cents in closing at $1.90 with an exchange of 88,064 units and tTech dipped 15 cents to end at $2.20 with traders dealing in 1,143 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rise on lower trading
The Junior Market of the Jamaica Stock Exchange rose on Monday, following a 42 percent decline in the volume of stocks traded at a 54 percent lower value than on Friday, with trading in 40 securities trading up from 38 on Friday and ended, with prices of 17 rising, 14 declining and nine closing unchanged.
Investors traded 3,939,621 shares for $8,927,792 compared with 6,762,889 units at $19,614,027 on Friday.
Trading averaged 98,491 shares at $223,195 compared with 177,971 units at $516,159 on Friday with the month to date, averaging 137,212 units at $365,921 compared to August with an average of 183,001 units at $460,354.
Regency Petroleum led trading with 835,784 shares for 21.2 percent of the total volume followed by JFP Ltd with 663,629 units for 16.8 percent of the day’s trade and Tropical Battery, 356,970 units for 9.1 percent market share.
At the close, the Junior Market Index rallied 17.54 points to close at 3,872.50.
The PE Ratio, a tool for computing appropriate stock values, averages 10.8 for Junior Market stocks and is computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Blue Power declined 42 cents to $2.08 in switching ownership of 98,985 shares, Caribbean Assurance Brokers rose 18 cents to end at $2.86 as investors traded a mere 1,233 stocks, Dolla Financial shed 32 cents to end at $2.25, with 352,754 stock units changing hands, Dolphin Cove popped 38 cents to $16.98 with an exchange of 5,750 units. Everything Fresh rallied 17 cents in closing at $1.54 after 21 stocks were traded, Express Catering climbed 70 cents and ended at $4.90 and closed after an exchange of 9,874 stocks, Fontana dipped 12 cents to end at $11.25 in an exchange of 20,997 shares, Fosrich skidded 7 cents to $2 in trading 167,355 units. Future Energy Source lost 16 cents to close at $3.47 after 318,899 units passed through the market, Image Plus Consultants advanced 12 cents to $2.17 with stakeholders exchanging 14,816 shares, 
Iron Rock Insurance fell 16 cents in closing at $2.14 after transfers of 4,999 stocks, Jamaican Teas fell 7 cents to close at $2.02 while 17,532 stock units passed through the market. Knutsford Express shed 45 cents and ended at $11.25 with an exchange of 8,170 shares, Lasco Distributors skidded 19 cents to $4.20 with investors swapping 78,917 stocks, Lasco Manufacturing rose 15 cents to $5.35 with investors transferring 7,527 units, Lumber Depot dropped 38 cents in closing at $1.91 in trading 11,274 stocks. Main Event gained $1.15 to end at $17.25 with traders dealing in 6,016 shares, Spur Tree Spices rose 8 cents to $2.20 after an exchange of 144,796 stock units, 
Stationery and Office Supplies advanced 12 cents and ended at $1.97 with investors dealing in 72,458 units and Tropical Battery rallied 8 cents to close at $2.02 after exchanging 356,970 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Key Insurance leads movers in ICTOP10
The impact on the market with the presence of an Initial Public Offer opening was not very pronounced this time around, with the One Great Studio opening and closing this past week with the issue being oversubscribed, but the Junior Market did experience a sharp fall early in the week that could well be related to investors seeking funds to invest in the IPO.
In the Main Market, Key Insurance climbed 14 percent to $2.88 to be the sole winner of note, while 138 Student Living crashed 6 percent to $4.11, just a fraction above the APO price for shareholders of $4.05, that is projected to raise just over $2 billion. JMMB Group shed 5 percent to close the week at $27.40, making for a compelling long term investment and Sygnus Credit Investments fell 4 percent to $11.47.
The Junior Market ICTOP10 closed the week with Caribbean Cream dropping 16 percent to $3.50, this comes against the background of sharply falling cost for milk solids, one of the significant input cost in the production of ice cream. Caribbean Assurance Brokers slipped 7 percent to $2.68 and Everything Fresh dropped 14 percent to $1.37 and Image Plus slipped percent to $2.05. Iron Rock Insurance was the gainer of note, rising 10 percent to $2.30.
The pending additional issue of 138 Student Living shares kept the price depressed and with the offer coming public with 513 million shares with an option to upsize by 318.5 million units, it will satisfy a great deal of demand and, therefore, put a short term lid on price appreciation. The situation will be worse as the company lacks the ability to inform investors about its operations in a manner that is befitting of a company its size.
Note that Margaritaville is listed on both the Main Market and the USD Market, with similar values.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.1, well below the market average of 12.7. The Main Market TOP10 is projected to have an average of 322 percent to May 2024, based on 2023 forecasted earnings.
The most highly valued Main Market stocks, representing 32 percent of the Main Market, are priced at a PE of 15 to 80, with an average of 29 and 20 excluding the highest PE ratios, with a PE of 22 for the top half and 17 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.3 compared with the market at 10.8. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 40, averaging 21, that is well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 271 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 likely gains for ICTOP10 stocks.
The markets are not in a bullish state, but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results, leading them to quietly nibble away at a number of stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes stocks such as Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
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 will likely 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.
Big fall for Junior Market
The Junior Market of the Jamaica Stock Exchange dropped sharply on Friday to erase most of the 74 points rally on Thursday with the volume of stocks traded being flat with an 18 percent higher value than Thursday, following trading in only 38 securities down from 42 on Thursday resulting in prices of 12 rising, 18 declining and eight closing unchanged.
Investors traded 6,762,889 shares for $19,614,027 compared with 6,771,997 units at $16,602,569 on Thursday.
Trading averaged 177,971 shares for $516,159 compared with 161,238 units at $395,299 on Thursday versus an average of 183,001 units at $460,354 in August.
Lasco Manufacturing led trading with 1.18 million shares for 17.5 percent of total volume, followed by Stationery and Office Supplies with 1.11 million units for 16.4 percent of the day’s trade and Regency Petroleum with 1.02 million units for 15.1 percent of trading.
The PE Ratio, a measure of computing appropriate stock values, aveAt the close, the Junior Market Index dipped 64.77 points to conclude trading at 3,854.96.
The 10.8. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Cargo Handlers popped 41 cents to $16.41 and closed with an exchange of 280 shares, Caribbean Assurance Brokers dipped 18 cents to close at $2.68 after 800 units crossed the exchange, Consolidated Bakeries gained 30 cents and ended at $2.60 in an exchange of 21,000 stock units, Derrimon Trading rose 23 cents to end at $1.88 with traders dealing in 500 stocks. Dolphin Cove climbed 59 cents in closing at $16.60 after an exchange of 10 stock units, Elite Diagnostic rallied 23 cents to $1.82 with shareholders swapping 10,097 stocks, Express Catering shed 80 cents and ended at $4.20 as investors exchanged 16,661 shares, Fontana advanced 87 cents to close at $11.37 after 58,802 units passed through the market. Future Energy Source fell 29 cents to end at $3.63, with 100,722 shares clearing the exchange, General Accident lost 45 cents in closing at $4.49 with a transfer of 28,915 stocks, Honey Bun increased 29 cents to close at $6.49 while exchanging 1,248 stock units, Image Plus Consultants dropped 19 cents and ended at $2.05, with 9,488 units crossing the market. 
Indies Pharma declined 19 cents to $3 in switching ownership of 480,213 stocks, ISP Finance skidded $4.17 in closing at $32 after an exchange of 5 stocks, JFP Ltd lost 12 cents to close at $1.52 with investors dealing in 434,417 units, Knutsford Express rallied 45 cents and ended at $11.70, with 1,595 shares changing hands. Lasco Distributors dipped 11 cents to $4.39 in an exchange of 350,497 stock units, Lasco Manufacturing fell 11 cents in closing at $5.20 with investors trading 1,184,638 units, Limners and Bards popped 17 cents to close at $1.98 after 1,531 stocks were traded, Main Event skidded $1.40 to end at $16.10 with an exchange of 4,331 shares. MFS Capital Partners gained 15 cents to close at $2.49, with 92,838 stock units crossing the market, ONE on ONE Educational shed 13 cents to end at $1.02 in trading 66,796 units, Regency Petroleum declined 35 cents to close at $2.19 after a transfer of 1,018,410 stocks, Spur Tree Spices dropped 27 cents and ended at $2.12 with stakeholders exchanging 599,864 shares.
Stationery and Office Supplies dipped 18 cents in closing at $1.85 in switching ownership of 1,106,312 stock units and Tropical Battery declined 10 cents and ended at $1.94 in an exchange of 121,811 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market surged on Wednesday
The Junior Market of the Jamaica Stock Exchange jumped sharply Wednesday, following a 29 percent jump in the volume of stocks traded but with a 40 percent lower value than Tuesday, after trading took place in 47 securities up from 43 on Tuesday and ended with 17 rising, 18 declining and 12 closing unchanged.
Investors traded 6,996,281 shares for $20,642,380 compared with 5,425,798 units at $34,684,589 on Tuesday.
Trading averaged 148,857 shares at $439,200, compared to 126,181 shares at $806,618 on Tuesday, with the month to date averaging 184,062 units at $463,527 compared with 186,095 stock units at $464,932 on the previous day. July closed with an average of 326,541 units at $843,878.
Blue Power led trading with 1.20 million shares for 17.2 percent of total volume, followed by Lasco Distributors with 884,183 units for 12.6 percent of the day’s trade and Regency Petroleum with 747,105 units for 10.7 percent market share.
At the close, the Junior Market Index rallied 44.40 points to close at 3,841.60.
The PE Ratio, a measure of computing appropriate stock values, averages 10.8. The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial advanced 20 cents to end at $25.20 with traders dealing in 7,190 shares, CAC 2000 fell 86 cents and ended at $5, with 2,185 stocks crossing the market, Cargo Handlers lost $1.30 to close at $15.11 with investors dealing in 86 stock units, Consolidated Bakeries declined 10 cents to close at $2.25 with an exchange of 20 units. Derrimon Trading skidded 10 cents in closing at $1.75 and closed with an exchange of 44,061 stocks, Dolphin Cove rose 60 cents to $16.60 after investors traded 1,116 stocks, EduFocal dipped 10 cents in closing at $1.34 after an exchange of 65,822 units, Elite Diagnostic rallied 27 cents and ended at $1.83, with 90,677 shares crossing the exchange. Everything Fresh dropped 17 cents to $1.37 after 98 stock units passed through the market, Fontana rallied 57 cents to $11.57 with a transfer of 19,107 shares, General Accident gained 11 cents to close at $5 after investors exchanged 200,222 stocks, 
GWest Corporation shed 10 cents to end at 88 cents after a transfer of 124 units. Honey Bun lost 29 cents in closing at $6.20 in switching ownership of 2,985 stocks, ISP Finance popped $3.27 and ended at $36.22, with just 30 shares crossing the market, JFP Ltd dipped 10 cents to $1.55 with shareholders swapping 326,764 units, KLE Group shed 9 cents to end at $1.55 while exchanging 14,500 units. Knutsford Express climbed $1.15 in closing at $11.25 in an exchange of 10,500 stock units, Main Event advanced $1.48 to $17.48 after 60,155 stocks were traded, MFS Capital Partners gained 33 cents to close at $2.49 in an exchange of 111,623 shares. 
Paramount Trading fell 10 cents and ended at $1.70 with 95 units clearing the market and Regency Petroleum rallied 17 cents to $2.40, with 747,105 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising Junior Market stocks outnumber decliners
Dolphin Cove dominated trading on the Junior Market of the Jamaica Stock Exchange on Tuesday, accounting for the largest block of shares changing hands that helped to push the volume of stocks traded up by 14 percent, with a 198 percent rise in value over Monday, with trading in 43 securities compared with 44 on Monday and ended with 22 rising, 14 declining and seven closing unchanged.
Investors traded 5,425,798 shares for $34,684,589, up from 4,765,501 units at $11,620,310 on Monday.
Trading averaged 126,181 shares at $806,618, compared to 108,307 units at $264,098 on Monday with a month to date, average of 186,095 units at $464,932 compared with 189,437 stock units at $445,875 on the previous day. July closed with an average of 326,541 units at $843,878.
Dolphin Cove led trading with 1.52 million shares for 28.1 percent of total volume, after one trade accounted for 1.5 million shares at $16.05, followed by Jamaican Teas with 760,932 units for 14 percent of the day’s trade and Derrimon Trading with 382,074 units for 7 percent market share.
At the close, the Junior Market Index fell 34.97 points to 3,797.20.
The PE Ratio, a measure of computing appropriate stock values, averages 10.9. The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial climbed $1.99 to close at $25 with traders dealing in 58 shares, Caribbean Cream lost 67 cents to end at $3.47 after 5,246 units were traded, Consolidated Bakeries rose 10 cents to end at $2.35 with investors transferring 16,955 stock units. Derrimon Trading dipped 7 cents and ended at $1.85 as 382,074 stocks passed through the market, Dolphin Cove skidded 45 cents to $16 with investors trading 1,523,001 shares, EduFocal added 14 cents to close at $1.44 after 199,769 stock units crossed the exchange. Elite Diagnostic fell 29 cents to $1.56 with shareholders swapping 33,695 stocks, Future Energy Source popped 9 cents in closing at $3.45, with 94,384 units crossing the market, General Accident gained 46 cents and ended at $4.89 after exchanging just 10 stock units. GWest Corporation rallied 14 cents to 98 cents in switching ownership of 2,817 shares, Indies Pharma rose 11 cents to $3.12, with 2,982 stocks changing hands, Iron Rock Insurance advanced 20 cents and ended at $2.30, with just 10 units crossing the market. 
ISP Finance rose $3 to $32.95 in trading 11 stock units, JFP Ltd rallied 9 cents to close at $1.65 with an exchange of 232,300 stocks, Knutsford Express declined 89 cents to end at $10.10 with a transfer of 1,983 units. Lasco Distributors dropped 15 cents to close at $4.20 after trading 36,603 shares, Limners and Bards increased 30 cents to $2 as investors exchanged 11,086 units, Lumber Depot shed 11 cents to close at $2.05, with 11,529 shares clearing the market. Main Event declined 48 cents to $16 while exchanging 68,579 stocks, Paramount Trading gained 25 cents and ended at $1.80 with investors dealing in 3,500 stock units, 
Spur Tree Spices climbed 8 cents to $2.20 after an exchange of 206,751 stocks and Tropical Battery skidded 10 cents and ended at $1.94 in an exchange of 27,480 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market consolidation continues
Trading slipped moderately on the Junior Market of the Jamaica Stock Exchange on Monday, as the market continued to trade in consolidation mode since the latter part of last week and ended the day with the volume of stocks traded declining 14 percent and the value 5 percent lower than Friday, after trading in 44 securities compared with 41 on Friday and ended with 12 rising, 22 declining and 10 closing unchanged.
Investors traded 4,765,501 shares for $11,620,310 compared with 5,520,175 units at $12,285,763 on Friday.
Trading averaged 108,307 shares at $264,098 down from 134,638 shares at $299,653 on Friday, with the month to date, averaging 189,437 units at $445,875 compared to 194,347 stocks at $456,877 on the previous trading day. Trading in July closed with an average of 326,541 units at $843,878.
EduFocal led trading with 570,949 shares for 12 percent of total volume, followed by Stationery and Office Supplies with 501,609 units for 10.5 percent of the day’s trade and Mailpac Group with 456,078 units for 9.6 percent market share.
At the close, the Junior Market Index dropped 4.08 points with 3,832.17.
The PE Ratio, a measure of computing appropriate stock values, averages 10.6. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, AMG Packaging skidded 32 cents to close at $2.27 in trading 82,359 shares, Blue Power advanced 7 cents to $2.08 after investors ended trading 279,750 stock units, Consolidated Bakeries declined 35 cents in closing at $2.25, with 65,955 stocks crossing the market. EduFocal dipped 15 cents to end at $1.30 with a transfer of 570,949 units, Express Catering rallied 10 cents and ended at $5.09 with investors dealing in 100,482 units, Fontana shed 25 cents and ended at $11, with 24,791 stocks crossing the exchange. Future Energy Source lost 9 cents to close at $3.36 after 146,911 shares passed through the market, GWest Corporation fell 15 cents to 84 cents with stakeholders exchanging 170,475 stock units, 
Image Plus Consultants dipped 10 cents to end at $2.05 after 39,803 units were traded. Indies Pharma lost 11 cents in closing at $3.01 after an exchange of 5,298 stocks, ISP Finance climbed $3.95 in closing at $29.95 as investors traded 100 shares, Lasco Distributors dipped 11 cents to $4.35 in switching ownership of 121,037 stock units. Limners and Bards fell 20 cents and ended at $1.70 after an exchange of 200,212 shares, Lumber Depot increased 7 cents to close at $2.16 after 26,516 stock units changed hands, Main Event rose $1.98 to end at $16.48 with an exchange of 107,706 stocks. MFS Capital Partners shed 27 cents to close at $2.15 while exchanging 5,015 units, 
Paramount Trading skidded 16 cents in closing at $1.55 in an exchange of 25,904 units and Spur Tree Spices dropped 8 cents and ended at $2.12 with investors transferring 39,557 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ returns to ICTOP10
Caribbean Producers
Caribbean Producers (CPJ) returns to the TOP10 after a long period of absence, following the fall out of Berger Paints from the Main market Top10, even as CPJ earnings are based on June 2023 full year earnings with the company is yet to release these results.
Preliminary projection indicates earnings of $2.50 per share for the 2024 fiscal year that would put the stock into the third position on the TOP10 list. Until the full year results are in, the estimate for the 2023 year is used.
The Main and Junior markets closed the week with moderate changes in market indices, with a slight fall in the Junior Market and a modest increase in the other.
The Main and Junior markets closed the week with moderate changes in market indices, with a slight fall in the Junior Market and a modest increase in the other.
The Junior Market had one stock rising 10 percent and two falling 12 and 10 percent, with more modest changes in most of the rest. The Main Market had one stock climbing 10 percent and one falling 6 percent as the largest movers.
Caribbean Cream the leading mover in the Junior Market ICTOP10, climbed 10 percent to $4.15, followed by Edufocal rising 4 percent to $1.45. Iron Rock Insurance was the worst performer, falling 12 percent to $2.10 and was followed by general Accident, down 10 percent to $4.43, while Caribbean Assurance Brokers slipped just 4 percent to $2.87.
Berger Paints rose 10 percent to $7.76 in the Main Market, followed by Guardian Holdings with a 4 percent rise to $439.80, JMMB Group also gained 4 percent to close the week at $28.79, but 138 Student Living fell 6 percent to $4.35 and Caribbean Cement fell 4 percent to $50.
Investors should note that Margaritaville is listed on both the Main and USD markets, with similar values.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.2, well below the market average of 12.6. The Main Market TOP10 is projected to have an average of 322 percent, to May 2024, based on 2023 forecasted earnings.
The 2most highly valued Main Market stocks, representing 26 percent of the Main Market, are priced at a PE of 15 to 100, with an average of 31 and 20 excluding the highest PE ratios, with a PE of 23for the top half and 17excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.4 compared with the market at 10.7. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 38, averaging 20, well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 271 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 likely gains for ICTOP10 stocks.
The markets are not bullish, but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results, leading them to quietly nibble away at a number of stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes, Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
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 will likely 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.
