Trading on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded declining 52 percent and the value 49 percent lower than on Tuesday, following trading in 58 securities compared with 51 on Tuesday, with prices of 21 stocks rising, 18 declining and 19 ending unchanged.
The market closed with trading of 19,390,210 shares for $75,280,584 down from 40,671,064 stock units at $148,618,570 on Tuesday.
Trading averaged 334,314 shares at $1,297,941 compared with 797,472 units at $2,914,090 on Tuesday and for the month to date, an average of 523,327 stock units at $8,924,231 compared with 539,355 shares at $9,570,905 on the previous day and August with an average of 290,511 units at $2,258,494.
Radio Jamaica led trading with 11.39 million shares for 58.7 percent of total volume followed by Wigton Windfarm with 1.53 million stock units for 7.9 percent of the day’s trade, Transjamaican Highway ended with 1.32 million stocks for 6.8 percent of market share, QWI Investments closed with 1.25 million units for 6.4 percent market share and Sagicor Select Financial Fund with 1.04 million shares for 5.4 percent of total volume.
The All Jamaican Composite Index rallied 1,467.53 points to end at 350,511.79, the JSE Main Index gained 1,568.72 points to finish at 308,212.87 and the JSE Financial Index popped 0.41 points to finish at 64.47.
The Main Market ended trading with an average PE Ratio of 14.2. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, AS Bryden declined 75 cents and ended at $36.25 with investors trading 1,001 stock units, Barita Investments sank $2.45 to $71 with 4,348 shares changing hands, Caribbean Cement gained 89 cents to end at $64.88 with investors trading 4,260 units. GraceKennedy rose $1.40 in closing at $73.90 after 15,296 stocks crossed the market, Guardian Holdings advanced $15 to close at $310 after an exchange of just one unit, Jamaica Producers slipped $1.05 to finish at $20.50 with investors swapping 1,646 shares. Margaritaville sank 97 cents to $14.38 with a transfer of 342 stock units, MPC Caribbean Clean Energy dropped $2 to close at $86 after an exchange of 92 stocks, 
Sagicor Real Estate Fund shed 60 cents and ended at $8.20 with 5,619 units passing through the market. Salada Foods popped 39 cents to finish at $3.40 with an exchange of 56,485 shares, Scotia Group increased $1 in closing at $45 with 332,121 stocks clearing the market, Seprod climbed $1.50 to end at $82.50 with investors dealing in 345 stock units and Wisynco Group lost 51 cents to close at $20.51 in trading 113,215 shares.
In the preference segment, 138 Student Living preference share skidded $38.60 to close at $161.40 in an exchange of 20 units and Transjamaican Highway 8% fell 46 cents to finish at $1.50 with traders dealing in 200,837 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Flat revenues for Jamaica Broilers
Investing in undervalued stocks is a great way to make money in the stock market. Sometimes it requires patience, a trait that is a big virtue in picking stocks that will be great performers in the future. One such stock is Jamaica Broilers, a pioneer in the poultry industry with the processing of pre-dressed chickens.
For the just concluded 2024 fiscal year, Jamaica Broilers Group reported profits of $6 billion compared to $4.3 billion in 2023 but the latest fiscal year’s results were buoyed by $2.27 billion from gains from sale of assets of a USA subsidiary, International Poultry Breeders Hatcheries.
Excluding the one-time gain, profit would approximate $4.20 per share compared to $4.43 last year. The 2024 decline is worse than the initial appearance, with profit in 2023 being negatively affected by a $1 billion loss from discontinued operations, in Haiti, excluding that loss the company would have earned $5.40 per share in that year.
The 2025 fiscal year is off to a slow start, with revenues of $23.45 billion up marginally from $23.39 billion in the similar quarter in 2024. Profit before and after tax fell in the quarter with net profit coming in at $1.1 billion versus $1.24 in 2023. The disappointing revenue performance in the latest quarter, occurred in the Jamaican operations with revenues of $14.07 billion down from $14.32 billion in 2024, pushing segment profit down to $1.59 billion from $1.75 billion. The US segment saw a minor revenue increase to $9.39 billion from $9.07 billion with segment profit slipping marginally to $1.165 billion from $1.175 billion.
Jamaica Broilers chicken
Revenues in the final quarter of the 2024 fiscal year were flat with that of 2023, due to an extreme tightening in the local economy that negatively affected sales across a wide cross-section of the local economy. While revenues for the nine months to January grew by 2.7 percent to $70.35 billion from $68.5 billion in 2023, revenues for the April quarter declined from $22.85 billion in 2023 to $22.6 billion, with the January quarter rising just under 4 percent to $70.35 billion from $68.50 billion in 2023.
The most positive development during the last fiscal year was a sharp fall in direct material input cost of raw materials used in production that fell to $45.89 billion from $48.17 in 2023, the decline in the Jamaica operation was more muted falling to $32.24 billion from $33.69 billion. A 14 percent rise in staff costs to $20 billion from $17.68 billion more than wiped out the gains from reduced material costs. The Jamaican operation had a 12.6 percent increase in staff cost to $9.38 billion from $8.3 billion in 2023.
Advertising and promotion expenses jumped 71 percent to $950 million from $556 million in the 2023 fiscal year but grew over two percent to $737 million in the first quarter to July this year. Administrative expenses rose just over 4 percent to $12.94 billion from $12.4 billion in the 2023 fiscal year and they were flat for the July 2024 quarter with that of 2023 at $2.9 billion. Finance costs jumped 45 percent to $2.68 billion from $1.85 billion and rose just over 3 percent in the July 2024 first quarter to $653 million.
Gross Profit margin in the latest fiscal year was 25.6 percent the same as in 2023 and operating profit rose marginally to $23.79 billion from $23.4 billion in 2023. In the July 2024 quarter, gross profit slipped from $5.7 billion in 2023 to $5.5 billion in 2023.
Segment results show the Jamaican division enjoying a one percent increase in revenues to third parties of $59.5 billion from $58.8 billion, contributing segment results of $8.3 billion, up from $7.6 billion in 2023 and the USA segment saw a 55 percent rise in profit to $5.9 million with the gain on sale of assets contributing to the growth, from $3.8 billion with revenues rising 2.8 percent to $33.45 billion from $32.55 billion in 2023. Other Caribbean
Operations delivered a loss of $652 million from a profit of $1.89 billion in 2023. Importantly, the group’s directors report, “In our pursuit of regional expansion, we’ve now successfully entered the Trinidad and Tobago market. Although still in its early stages, we anticipate substantial sales growth in this territory. The addition of this new market has already contributed to a remarkable 8 percent increase in export sales.”
The operations generated a Gross cash flow of $8 billion but growth in working capital, reduced it to a cash deficit of $2.5 billion, after addition to fixed assets dividend payment of $821 million and net loan payments, a deficit of $2 billion was incurred and resulted in cash funds falling to $2.8 billion.
Current assets ended the period at $59 billion at the end of April, including trade and other receivables of $6.3 billion, and inventories, including livestock amounting to $50 billion. Current liabilities ended the period at $40 billion. Net current assets ended the period at $19 billion.
At the end of the 2024 fiscal year, shareholders’ equity amounts to $30.8 billion with long term borrowings at $14 billion and short term at $20 billion.
The Group has capital commitments of US$4.46 million, down slightly from US$5.8 million in 2023, but spent $$2.29 billion or nearly US$15 million in the latest fiscal year, up from J$1.77 billion in 2023.
IC Insider.com projects earnings of $5.50 per share for the fiscal year ending April 2025, with a PE of 5.7 times the current year’s earnings based on the price of $31.50, the stock traded at on the Jamaica Stock Exchange Main Market and less than half of the average for the Main Market of 14.1. Net asset value at the end of July is $31.87 with the stock selling in line with book value.
Trading rises but JSE Main Market falls
Trading on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded rising 396 percent and the value 372 percent more than on Monday, following trading in 51 securities compared with 57 on Monday, with prices of 14 stocks rising, 20 declining and 17 ending unchanged, with most of the price changes being very low.
The market closed with 40,671,064 shares being traded at $148,618,570 compared with 8,193,460 units at $31,489,985 on Monday.
Trading averaged 797,472 shares at $2,914,090 compared with 143,745 stocks at $552,456 on Monday and trading for the month to date, with an average of 539,355 stock units at $9,570,905 compared with 518,559 shares at $10,107,236 on the prior day and August that closed with an average of 290,511 stock units at $2,258,494.
Transjamaican Highway led trading with 35.58 million shares for 87.5 percent of total volume followed by Radio Jamaica with 1.70 million stock units for 4.2 percent of the day’s trade and Wigton Windfarm with 1.57 million units for 3.9 percent of the share of the market.
The All Jamaican Composite Index skidded 1,453.30 points to 349,044.26, the JSE Main Index dropped 1,168.34 points to 306,644.15 and the JSE Financial Index lost 0.48 points to finish at 64.06.
The Main Market ended trading with an average PE Ratio of 14. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasted by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Caribbean Cement rallied 49 cents to $63.99 with investors swapping 1,029 shares, GraceKennedy fell $1 to end at $72.50 in an exchange of 85,398 stocks, Guardian Holdings dropped $15 in closing at $295 after trading of 374 shares. Jamaica Broilers lost $1.90 and ended at $31.50 with 68,500 stock units crossing the market, Jamaica Producers popped $1.49 to close at $21.55 in trading 5,141 shares,
Lasco Manufacturing gained 30 cents to finish at $7, with 10,333 units crossing the market. Massy Holdings rose $2 to $78 with investors trading 2,561 stocks, Pan Jamaica shed 21 cents to $48.99 in an exchange of 902 stock units, Pulse Investments declined 21 cents and ended at $1.36 with traders dealing in 27,605 shares. Scotia Group sank 80 cents to end at $44 crossing with an exchange of 2,067 stock units and Supreme Ventures dipped 24 cents in closing at $21 with investors trading 64,453 stocks.
In the preference segment, Sygnus Credit Investments C10.5% climbed $1.61 to close at $103 with an exchange of 46 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks pushed Main Market higher
Rising stocks edged out those declining on the Jamaica Stock Exchange Main Market, pushing the market higher at the close on Monday following a 96 percent plunge in the volume of stocks traded, with the value 99 percent lower than on Friday, after trading in 57 securities compared with 54 on Friday, with prices of 19 stocks rising, 17 declining and 21 ending unchanged.
The market closed with trading of 8,193,460 shares valued $31,489,985 compared to 210,468,441 stock units at $4,731,124,716 on Friday.
Trading averaged 143,745 shares at $552,456 compared with 3,897,564 stocks at $87,613,421 on Friday and month to date, an average of 518,559 units at $10,107,236 compared with 555,650 shares at $11,052,761 on the previous trading day and August with an average of 290,511 stock units at $2,258,494.
Wigton Windfarm led trading with 4.37 million shares for 53.3 percent of total volume followed by Transjamaican Highway with 1.0 million units for 12.3 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund with 732,598 stock units for 8.9 percent market share.
The All Jamaican Composite Index rose 2,895.15 points to 350,497.56, the JSE Main Index advanced 2,371.32 points to wrap up trading at 307,812.49 and the JSE Financial Index rose 1.11 points to close at 64.54.
The Main Market ended trading with an average PE Ratio of 14.2. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, AS Bryden dipped $1.99 to close at $37 as investors exchanged 533 shares, Caribbean Cement rallied 49 cents to $63.50 after 2,386 stocks passed through the market, GraceKennedy rose 40 cents in closing at $73.50 with investors dealing in 5,930 shares. Guardian Holdings gained $15 to end at $310 after an exchange of 5 stock units, Jamaica Broilers sank $1.59 and ended at $33.40 with a transfer of 26,381 shares, Jamaica Stock Exchange popped 69 cents to finish at $10.69, with 438 stock units changing hands. Pan Jamaica advanced $3.12 to $49.20 with an exchange of 3,150 stocks, 
Proven Investments climbed 73 cents to end at $15.80 after investors ended trading 4,550 units, Salada Foods skidded 47 cents in closing at $3.01 in an exchange of 1,800 stock units. Scotia Group increased 81 cents to close at $44.80 with investors swapping 200,262 units, Sygnus Real Estate Finance climbed $1.27 and ended at $10.45 in switching ownership of 8 shares and Wisynco Group lost 42 cents to finish at $21.02 with 40,591 stock units crossing the market.
In the preference segment, Sygnus Credit Investments C10.5% declined $3.11 and ended at $101.39 after a transfer of 676 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price moves for ICTOP10 stocks
The Main and Junior Markets remained steady at the end of the week, only marginally adrift from last week’s close with just a few points of separation, suggesting the markets may have started to benefit from falling interest rates in the financial market. The market movement did nothing to prevent some sizable price gains, with minimal losses in the TOP10 lists.
In the All JSE TOP10 tTech replaced Iron Rock Insurance following a sharp appreciation in the latter’s stock price. The All JSE TOP10 includes ten stocks that are listed on Jamaica Stock Exchange that have the highest potential gains, using projected 2024 earnings.
In the Junior Market TOP10, Iron Rock Insurance surged 33 percent to a 52 weeks’ high of $4, Caribbean Assurance rose 13% to close at $3.50 and Stationery & Office Supplies the biggest loser shed 4 percent to close at $1.56.
In the Main Market ICTOP 10, Berger Paints gained 12 percent to close at $6.83, Margaritaville and General Accident rose by 7 percent to close at $15.40 and $6.94 respectively. No other stock moved more than 3 percent.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6, just less than half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 320 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 228 percent over the same period.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 29 percent of the Main Market have PEs between 15 to 107, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 23 and a PE of 17 for half of the market with the highest values.
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.
TOP 10 Stocks, Daily Trading, Jamaican Stocks, Junior Market, Jamaican Stock Exchange,
Wisynco’s went to market on Friday
Wisynco Group accounted for nearly 90 percent of the volume of stock trading on Friday on the Jamaica Stock Exchange Main Market, with 188 million shares changing hands for $3.95 billion, driving the overall volume of stocks traded up by 3,967 percent and the value 15,567 percent more than Thursday’s trades, with trading in 54 securities compared with 56 on Thursday, resulting in an equal number of winning and losing stocks with prices at 21 each and ending with 12 unchanged.
The market closed with an exchange of 210,468,441 shares with a value of $4,731,124,716 compared with 5,174,773 units at $30,198,962 on Thursday.
Trading averaged 3,897,564 shares at $87,613,421 compared to 92,407 units at $539,267 on Thursday and month to date, with an average of 555,650 stock units at $11,052,761 compared with 209,935 shares at $3,132,693 on the previous day and August with an average of 290,511 units at $2,258,494.
Wisynco Group led trading with 188.20 million shares for 89.4 percent of total volume but the big trade had little impact on the stock price. Eppley Caribbean Property Fund was next with 16.32 million stocks for 7.8 percent of the day’s trade, Wigton Windfarm with 1.85 million units for 0.9 percent of market share and Radio Jamaica with 1.31 million shares for 0.6 percent of total volume.
The All Jamaican Composite Index dropped 1,523.62 points to end at 347,602.41, 
the JSE Main Index fell 2,784.38 points to close at 305,441.17 and the JSE Financial Index sank 0.94 points to wrap up trading at 63.43.
The Main Market ended trading with an average PE Ratio of 14.2. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement lost 98 cents in closing at $63.01 with investors trading 10,516 stocks, Eppley sank $1.47 to $36 with an exchange of 15 units, Eppley Caribbean Property Fund increased $6.40 to finish at a 52 weeks’ high of $46 with 16,316,237 shares crossing the market. GraceKennedy dropped 80 cents and ended at $73.10 with investors trading 12,598 stock units, Guardian Holdings shed $25 to end at $295 after a transfer of 162 shares, Jamaica Broilers climbed 54 cents to close at $34.99 with investors swapping 120,200 stock units. 
Jamaica Producers fell 60 cents to $20 after an exchange of 51,284 stocks, Jamaica Stock Exchange sank 73 cents to finish at $10 with a transfer of 96,391 units, Mayberry Jamaican Equities rose $1.27 and ended at $10.43 with 47,094 stock units clearing the market. NCB Financial gained 46 cents in closing at $51.71 in an exchange of 7,022 units, Proven Investments dipped 63 cents to close at $15.07 with investors dealing in 39,273 shares and Seprod slipped $3.07 to end at $81.01 in an exchange of 18,119 stock units.
In the preference segment, Sygnus Credit Investments C10.5% popped $3.11 in closing at $104.50 with traders dealing in just one share.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main market attracts more money
On Wednesday 127 percent more funds poured into the Jamaica Stock Exchange Main Market, resulting in the volume of stocks traded falling 30 percent and the value from Tuesday, with trading in 53 securities down from 57 previously and ended with prices of 19 stocks rising, 25 declining and nine ending unchanged.
The market closed with 6,653,491 shares being traded at $126,514,825 compared with 9,447,304 units at $55,827,190 on Tuesday.
Trading averaged 125,538 shares at $2,387,072 compared with 165,742 units at $979,424 on Tuesday and month to date, an average of 224,058 units at $3,444,349 compared with 236,701 units at $3,580,028 on the previous day and August that ended with an average of 290,511 units at $2,258,494.
NCB Financial led trading with 1.43 million shares for 21.5 percent of total volume followed by Lasco Distributors with 1.29 million units for 19.4 percent of the day’s trade and Wigton Windfarm with 705,002 stock units for 10.6 percent market share.
The All Jamaican Composite Index sank 1,070.54 points to end at 348,403.02, the JSE Main Index advanced 1,228.28 points to cease trading at 309,304.36 and the JSE Financial Index increased 0.54 points to end at 63.98.
The Main Market ended trading with an average PE Ratio of 14. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Eppley climbed $2.09 and ended at $36.99 with 191 shares being exchanged, Eppley Caribbean Property Fund dropped $2 to $40 with a transfer of 1,000 stock units, General Accident popped 50 cents to close at $7, after 315,254 shares passed through the market. Guardian Holdings increased $48.24 in closing at $339.25 in trading 110 stock units, 
Jamaica Broilers advanced $2.99 to finish at $34.49 with 23,947 shares crossing the market, MPC Caribbean Clean Energy fell $8.80 to end at $88 after an exchange of 166 stocks. Sagicor Group declined 60 cents in closing at $39.60 in trading 114,095 units, Salada Foods sank 50 cents to $3 after an exchange of 15,690 stock units, Scotia Group dipped $2.05 to end at $41.75 with investors trading 139,768 shares. Seprod sank 90 cents to finish at $84.10 in switching ownership of 51,158 stocks and Sygnus Real Estate Finance slipped $1.72 and ended at $9.18 with traders dealing in 15,619 units.
In the preference segment, Eppley 7.50% preference share rose 85 cents to close at $6.21. with 10 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks edged out on JSE Main Market
Declining stocks edged out those rising on the Jamaica Stock Exchange Main Market on Tuesday, following a 48 percent decline in the volume of stocks traded declining with the value being 16 percent more than on Monday, with trading in 57 securities compared with 61 on Monday, with prices of 22 stocks rising, 24 declining and 11 ending unchanged.
The market closed with an exchange of 9,447,304 shares for $55,827,190 compared to 18,204,801 stock units valued at $48,152,166 on Monday.
Trading averaged 165,742 shares at $979,424 compared to 298,439 stock units at $789,380 on Monday and trading for the month to date, with an average of 290,511 units with a value of $2,258,494.
Transjamaican Highway led trading with 4.17 million shares for 44.2 percent of total volume followed by Transjamaican 8% preferred share, with 2.01 million units for 21.3 percent of the day’s trade and Wigton Windfarm with 809,692 stock units for 8.6 percent market share.
The All Jamaican Composite Index fell 597.26 points to conclude trading at 349,473.56, the JSE Main Index shed a mere 1.65 points to 308,076.08 and the JSE Financial Index lost 0.46 points to close at 63.44.
The Main Market ended trading with an average PE Ratio of 14.1. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Barita Investments rose 40 cents to end at $73.49 with 1,958 shares crossing the exchange, Caribbean Cement dipped 50 cents to $64.50 with a transfer of 988 stocks, Eppley sank $2.10 to close at $34.90 after just 74 shares passed through the market. Eppley Caribbean Property Fund climbed $3 and ended at $42 after an exchange of a mere 14 stock units, GraceKennedy lost 50 cents to finish at $73.96 with 39,985 shares clearing the market, Jamaica Broilers dropped $2.48 in closing at $31.50 with an exchange of 39,156 stock units. JMMB Group fell 44 cents to $20.65 with 18,196 stocks crossing the market, Margaritaville increased $1.05 to end at $15.43 with traders dealing in 100 units, Massy Holdings popped $1.10 in closing at $80 after an exchange of 817 shares. 
NCB Financial advanced 75 cents to finish at $51.90 after the trading of 33,721 stock units, Pan Jamaica slipped $3.37 and ended at $46.10 in switching ownership of 30,743 units, Sagicor Real Estate Fund rallied 43 cents to close at $9 and closed with 313 stocks changing hands. Scotia Group gained 89 cents to $43.80 with investors swapping 477,479 units and Supreme Ventures rose 70 cents to finish at $21.15, with 19,056 stocks crossing the market.
In the preference segment, Jamaica Public Service 9.5% sank $1 and ended at $2699 with investors trading 4 shares and Sygnus Credit Investments C10.5% climbed $1.50 to close at $104.50 with 28 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jump in the JSE Main Market
The Jamaica Stock Exchange Main Market jumped on Monday, with the volume of stocks traded rising 154 percent and the value rising just 6 percent more than on Friday, with trading in 61 securities up from 57 on Friday, with prices of 28 rising, 16 declining and 17 ending unchanged.
The market closed with 18,204,801 shares being traded for $48,152,166 compared to 7,156,390 stocks at $45,293,210 on Friday.
Trading averaged 298,439 shares at $789,380 compared with 125,551 stocks at $794,618 on Friday and month to date, an average of 248,062 units at $3,996,417 compared with 237,646 units at $4,659,567 on the previous day and August that ended with an average of 290,511 units at $2,258,494.
Wigton Windfarm led trading with 9.13 million shares for 50.2 percent of total volume followed by Transjamaican Highway with 4.08 million stocks for 22.4 percent of the day’s trade, Sagicor Select Manufacturing & Distribution Fund with 1.94 million units for 10.6 percent market share and Transjamaican Highway 8% with 1.02 million shares for 5.6 percent of total volume.
The All Jamaican Composite Index advanced 2,790.40 points to conclude trading at 350,070.82, the JSE Main Index advanced 3,574.84 points to settle at 308,077.73 and the JSE Financial Index popped 0.61 points to 63.90.
The Main Market ended trading with an average PE Ratio of 14.3. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, Berger Paints advanced 74 cents and ended at $6.84 with just 226 shares crossing the market, Caribbean Cement rose $1.99 to $65 with an exchange of 44,951 stocks, Eppley climbed $2 to finish at $37 after trading in 15,155 shares. GraceKennedy increased $2.46 to end at $74.46 with investors dealing in 9,608 stock units, Guardian Holdings popped $3 in closing at $291 in switching ownership of 1,045 shares, Jamaica Producers rallied 50 cents to close at $21.50 after a transfer of 9,882 units. Massy Holdings gained 90 cents to $78.90 as investors exchanged 4 stocks, MPC Caribbean Clean Energy popped $8.80 in closing at $96.80 after just 2 stock units were traded, 
Pan Jamaica climbed $3.47 to close at $49.47 after an exchange of 4,396 shares. Seprod rose 51 cents and ended at $85 with investors trading 4,050 stocks and Wisynco Group lost 73 cents to finish at $21.02 in an exchange of 75,769 units.
In the preference segment, Eppley 7.50% preference share skidded 86 cents to end at $5.36 with 354 stock units changing hands. 138 Student Living preference share rallied $24.99 in closing at $199.99 in an exchange of only 1 share and Sygnus Credit Investments C10.5% sank $2 to $103 with investors swapping 796 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price moves with additions to ICTOP10
The Main Market lost 2 percent in value for the week while the Junior Market inched a few points higher, in a period of falling interest rates that will be beneficial to stocks in the coming months. The market movement did nothing to prevent some sizable price changes in the TOP10 lists.
The All JSE TOP10 had no new listing this week but Caribbean Cream which headed the list last week dropped to the eighth position, following a downward revision in projected earnings. The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains, based on projected 2024 earnings.
In the Junior Market TOP10, Cargo Handlers rose 14 percent to $9.08, followed by Caribbean Cream with a gain of 13 percent to $3.45 and Elite Diagnostic gained 10 percent to close at $1.75 and sits at the top of the ICTOP10 list, with both stocks in the All JSE TOP10.
Access Financial lost 12 percent to $19.03, Caribbean Assurance fell 10 percent to $3.10 as the price keeps bouncing around the $3.10 to $3.80 range, awaiting the approach of the next quarterly results. One Great Studio dropped 9 percent to 72 cents, Iron Rock Insurance and Stationery & Office Supplies shed 5 percent to close at $3 and $1.65 respectively.
Caribbean Cream released its first quarter results with revenues and profits surging as previously indicated. Revenues jumped a solid 26 percent to $764 million, with profit after tax more than doubling to $15 million from $7 million last year and almost tripling before tax to $20.4 million. The first quarter net profit represents 43 percent of 2024 full year earnings. ICInsider.com forecast is for earnings of 70 cents for the 2025 fiscal year results. The company stock is listed as the third most attractive one on the Junior Market.
In the Main Market, Key Insurance rose 7 percent to end at $2.98. Guardian Holdings dropped 10 percent to $288 and heads both the IC Main Market TOP10 and the All JSE TOP10. JMMB Group declined by 7 percent to $20.73 and Berger Paints slipped 4 percent to $6.10, with limited buying interest currently.
There were two changes to the Junior Market TOP10 listings for the week, with Image Plus and Lumber Depot coming in as Cargo Handlers and Access Financial dropping out.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6, just less than half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 333 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 240 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 have PEs between 15 to 107, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 7 stocks, 15 percent of the market, with PEs ranging from 15 to 22 and a PE of 17 for half of the market with the highest values.
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.
