The Jamaica Stock Exchange Main Market recorded two weeks of solid gains to close out a disappointing 2022, with the Main Market declining after a promising start, with the market adding 17,123 points in the last two weeks while the All Jamaica added 22,797 points and the Junior Market put on 93 points in the same period, resulting in movements in and out of the TOP10 in both markets.
Junior Market action resulted in Caribbean Cream popping 19 percent to $4, followed by Caribbean Assurance with a 9 percent rise to $2.16, Tropical Battery chipped in with a 7 percent increase to $2.30 and Paramount Trading rose 5 percent to $1.99. General Accident was the biggest loser with a fall of 12 percent to $4.41, Lasco Distributors slipped 8 percent to $2.50 and Lasco Manufacturing declined 6 percent to $3.95.
In the Main Market, Radio Jamaica rose 24 percent to $2.60, followed by JMMB Group up 6 percent to $34 and Jamaica Broilers up 5 percent to $31. The only losing stock in the Main Market is Guardian Holdings dropping 12 percent to $570.
In the Main Market, with the rise in the price of Radio Jamaica, Scotia Group reclaimed its TOP10 spot once more as RJR slipped out after reentering the TOP10 in the previous week, The Junior Market’s Tropical Battery dropped out of the TOP10 and replaced by Knutsford Express.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 15.3, while the Junior Market Top 10 PE sits at 6.2 versus the market at 12.9, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 228 percent and the Main Market TOP10, an average now of 269 percent, to May 2023.
The Junior Market has 15 stocks representing 32 percent of the market, with PEs from 15 to 35, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18 and shows the extent of potential gains that lie ahead for the TOP 10 stocks. The situation in the Main Market is similar, with the 20 highest valued stocks priced at a PE of 15 to 110, with an average of 33.5 and 24 excluding the highest valued ones and 22 for the top half excluding the highest valued stock.
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 2023 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.
Blue Power, Lasco Distributors and Lasco Financial Services traded at 52 weeks’ intraday low.
Junior Market stocks are based on ICInsider.com projected earnings for the financial year endings that falls between November this year and August 2023.
Consolidated Bakeries popped 14 cents to $1.84 in exchanging just one share, Dolla Financial shed 13 cents to close at $2.82 with the swapping of 540,840 stock units. Dolphin Cove increased 38 cents to $15.16 after trading 210,424 units, Elite Diagnostic gained 14 cents to end at $3.20 after a transfer of 10,005 stocks, Express Catering rallied 15 cents in closing at $5.05 after an exchange of 5,910 shares. General Accident declined 55 cents to $4.45, with 473 stocks crossing the market, Honey Bun advanced 21 cents to end at $7.42 in an exchange of 18,747 stock units, Indies Pharma climbed 25 cents to $2.85 with a transfer of 3,140 units. Knutsford Express fell 11 cents to $8.89 in switching ownership of 60 stock units, Limners and Bards rallied 13 cents in closing at $2.64 as investors exchanged 2,000 shares, Main Event shed 65 cents to close at $9.30, with 21,767 units changing hands. MFS Capital Partners declined 11 cents to end at $2.99 in exchanging 88,987 stock units, 
Regency Petroleum climbed 10 cents to $1.50 in trading 2,536,498 units and Stationery and Office Supplies increased 78 cents to $15.75 after an exchange of 28,914 shares.
The Junior Market Iron Rock Insurance popped 31 percent to $2.35, General Accident gained 13 percent to $5, followed by Dolphin Cove with an 11 percent rise to $14.78 and a 5 percent increase for Caribbean Cream to $3.35. Medical Disposables fell 5 percent to $4.90 and Lasco Distributors slipped 4 percent to $2.71.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.4, while the Junior Market Top 10 PE sits at 6.1 versus the market at 12.6, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 232 percent and the Main Market TOP10 by an average of 265 percent to May 2023.
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.
A total of 36,083,718 shares were traded for $101,351,606 versus 7,255,920 units at $22,249,838 on Thursday.
At the close, the Junior Market Index slipped 9.81 points to settle at 3,908.35.
Caribbean Assurance Brokers shed 20 cents to $1.98 after 2,460 stock units were traded. Caribbean Cream popped 15 cents in ending at $3.35 while exchanging 383 stocks, Consolidated Bakeries fell 14 cents to end at $1.70, with 15,090 stocks clearing the market, Derrimon Trading shed 14 cents to close at $2.11 trading 106,868 shares. Dolphin Cove gained 68 cents to $14.78 in exchanging 3,056 units, Fontana rose 10 cents to end at $9.09 with investors transferring 8,975 stock units, Fosrich lost 10 cents in closing at $3.90 with 18,458,647 stock units changing hands. Future Energy Source dipped 17 cents to $5.07 after a transfer of 177,671 units, General Accident increased 30 cents to $5 in switching ownership of 21,331 stocks, GWest Corporation dropped 13 cents in closing at $1.02 with the swapping of 1,824 shares. Indies Pharma lost 20 cents at $2.60 with a transfer of 1,761 stocks, Iron Rock Insurance advanced 46 cents to end at $2.35 with an exchange of one unit, JFP Ltd rallied 10 cents to close at $1.55 after an exchange of 11,438,854 stock units. 
Lumber Depot climbed 15 cents in ending at $2.45 after trading 1,231,390 shares, Paramount Trading rallied 36 cents in closing at $1.89 after exchanging 4,000 stock units, Stationery and Office Supplies jumped $1.77 to $14.97, with 603 shares crossing the market and Tropical Battery fell 23 cents to end at $2.15 after 296,469 stock passed through the market.
A total of 7,255,920 shares were traded for $22,249,838, down from 57,486,327 units at $181,774,492 on Wednesday.
The PE Ratio, a measure of computing appropriate stock values, averages 11.9. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for the financial year endings that falls between November this year and August 2023.
Express Catering fell 15 cents to $4.90 after an exchange of 4,274 shares, Fontana popped 9 cents to close at $8.99 in trading 20,871 stocks. Fosrich gained 15 cents in ending at $4, with 631,593 units changing hands, Future Energy Source rallied 40 cents to $5.24 after investors traded 1,057,241 shares, General Accident popped 30 cents to end at $4.70 in switching ownership of 15,630 stock units. iCreate gained 8 cents to $1.95 as 83,680 stocks passed through the market, Iron Rock Insurance dropped 50 cents in closing at $1.89 with 100 units changing hands, JFP Ltd dipped 10 cents to close at $1.45 with 210,869 shares clearing the market. Knutsford Express advanced $1 in closing at $9 after trading of 208 stock units, Lasco Financial increased 8 cents to end at $2.88 after trading 5,169 units, Limners and Bards declined 8 cents to end at $2.43 with a transfer of 16,688 stock units. Main Event rose 39 cents to close at $9.99 after an exchange of 4,600 shares, Medical Disposables climbed 47 cents to $4.99 after exchanging 14,246 stocks, MFS Capital Partners gained 19 cents to end at $3.19 while 139,444 stock units passed through the market. 
Spur Tree Spices rose 5 cents to $3.01 with an exchange of 131,576 stocks, Stationery and Office Supplies shed 80 cents in closing at $13.20 after a transfer of 500 units and Tropical Battery climbed 5 cents to close at $2.38 as 235,024 shares were traded.
The volume of stocks traded jumped from 22,074,785 shares to 57,486,327 units on Wednesday at a value of $181,774,492 up from $73,296,318 on Tuesday.
Regency Petroleum with 2.73 million units for 4.8 percent of the market trades and Future Energy Source with 1.08 million units for 1.9 percent market share.
Derrimon Trading gained 28 cents in closing at $2.40 after 4,052,243 stocks crossed the market. EduFocal dropped 7 cents to $2.30 after a transfer of 25,568 stock units, Fontana shed 10 cents to end at $8.90 and traded 52,822 stock units, Fosrich rallied 5 cents in ending at $3.85 with a transfer of 33,707,094 shares, Future Energy Source rose 13 cents to close at $4.84 after an exchange of 1,079,496 stock units, Honey Bun rallied 22 cents to $7.22 after a transfer of 16,793 stocks. iCreate dropped 24 cents in closing at $1.87 and exchanging 42,550 units, Lasco Distributors lost 5 cents to close at $2.80 with 365,272 units changing hands, Lasco Financial declined 9 cents in closing at $2.80 as investors exchanged 34,650 stocks. Lasco Manufacturing advanced 25 cents to end at $4.20, with 10,295 shares crossing the market, Limners and Bards gained 11 cents in ending at $2.51 with an exchange of 40,773 stock units. 
MFS Capital Partners popped 64 cents to close at $3 in trading 110,688 units, Spur Tree Spices fell 14 cents to $2.96 after 282,184 shares crossed the exchange and Stationery and Office Supplies rallied $1 to end at $14 with the swapping of 22,328 stocks.
A total of 22,074,785 shares were exchanged for $73,296,318 compared to 27,627,621 units at $54,220,421 on Monday.
At the close, the Junior Market Index dropped 37.30 points to 3,818.73.
Caribbean Assurance Brokers advanced 30 cents to $2.15 with investors transferring 700 stock units, Fontana rose 21 cents to close at $9 with the swapping of 47,010 shares, Future Energy Source dipped 11 cents to $4.71 while 10,673,967 stock units passed through the market. Honey Bun climbed 35 cents in closing at $7 in an exchange of 34 stocks, iCreate increased 24 cents to $2.11 in switching ownership of 37,255 units, Indies Pharma gained 19 cents to close at $2.79 with an exchange of 61,150 stocks. Iron Rock Insurance popped 39 cents ending at $2.39 in exchanging 20,020 stock units, Knutsford Express dropped $1 to close at $8 after trading 8,063 shares, Lasco Manufacturing shed 30 cents to $3.95 while exchanging 4,009 units. Main Event advanced 10 cents to end at $9.60 as investors exchanged 10,095 units, MFS Capital Partners declined 79 cents in ending at $2.36, with 1,226,152 stock units crossing the market, Paramount Trading shed 17 cents in closing at $1.53 in trading 6,358 shares. 
Stationery and Office Supplies declined 30 cents, ending at $13 with an exchange of 21,568 stocks and tTech rallied 34 cents to $2.59 after exchanging 151 stocks.
A total of 27,627,621 shares were exchanged for $54,220,421 up from 7,964,359 units at $18,013,451 on Friday.
At the close, the Junior Market Index shed 37.46 points to settle at 3,856.03.
Consolidated Bakeries dipped 35 cents to close at $1.63 after 28,196 stocks changed hands, Dolphin Cove rallied 30 cents to $13.65 after an exchange of 35,839 units, EduFocal declined 11 cents in closing at $2.30 with investors transferring 83,917 stocks. Elite Diagnostic gained 27 cents to close at $3.30 after a transfer of 59,144 shares, Fontana popped 11 cents to $8.79, finishing after 23,349 stock units changed hands, Fosrich dipped 15 cents in ending at $3.80 in an exchange of 1,932,309 stocks. Future Energy Source shed 13 cents to close at $4.82 with the swapping of 302,046 stock units, Honey Bun dipped 26 cents to end at $6.65 after investors exchanged 17,881 shares, iCreate lost 28 cents in closing at $1.87, with 9,821 units crossing the market. Indies Pharma fell 15 cents to $2.60 with a transfer of 4,831 shares, Iron Rock Insurance increased 20 cents to $2 with one share crossing the market, Medical Disposables declined 63 cents to close at $4.52 with an exchange of 282 units. MFS Capital Partners rose 15 cents to end at $3.15 in trading 227,599 stock units, Paramount Trading dropped 20 cents to close at $1.70 as investors exchanged 82,128 stock units, 
Regency Petroleum shed 34 cents to end at $1.41, with 18,531,416 shares crossing the exchange, after hitting a new high of $1.79 in early trading, Stationery and Office Supplies climbed 28 cents ending at $13.30 in an exchange of 2,250 units and Tropical Battery fell 14 cents in closing at $2.33 after 279,683 shares changed hands.
At the same time, the Junior Market Top 10 PE sits at 5.7 versus the market at 12, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 256 percent and the Main Market TOP10, an average now of 270 percent, to May 2023.
ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks, helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
percent with 21 percent more value than on Wednesday from the trading of 40 securities compared to 41 on Wednesday and ending with 15 rising, 16 declining and nine closing unchanged.
Energy Source with 540,880 units for 14.4 percent of the day’s trade and ONE on ONE Educational with 522,617 units for 13.9 percent market share.
Financial gained 15 cents to end at $3.21 after a transfer of 769,890 stock units. Future Energy Source popped 15 cents in closing at $4.97 with 540,880 units clearing the market, GWest Corporation lost 19 cents to end at $1 in trading 2,449 stocks, Honey Bun declined 86 cents to $6.85 with the swapping of 31,940 units. iCreate rallied 45 cents to $2.05 after 64,803 stock units crossed the exchange, Indies Pharma dipped 39 cents to close at $2.59 with 35,544 shares changing hands, Iron Rock Insurance dropped 60 cents in ending at $1.80 in switching ownership of 5,100 shares. ISP Finance advanced $2.50 to $17.50 after 203 stocks passed through the market, MFS Capital Partners gained 40 cents to close at $3.40 in exchanging 313,020 units, Regency Petroleum gained 32 cents ending at $1.32 with a transfer of 120,012 shares, 
Stationery and Office Supplies fell $1.75 in closing at $12.75 in switching ownership of 23,259 stock units. Tropical Battery shed 23 cents to end at $2.31 as investors exchanged 234,040 stocks and tTech dropped 90 cents to $2.25 trading 30 stock units.
