In market activity on Monday, on the Jamaica Stock Exchange Main Market, the volume of shares trading inched fractionally higher than Friday after the value exchange rose 30 percent over Friday and resulted in declining stocks exceeding those rising.
The All Jamaican Composite Index fell 2,340.12 points to 456,834.16, the JSE Main Index fell by 1,808.72 to end at 400,049.66 and the JSE Financial Index rose 0.04 points to settle at 94.72.
Trading ended with 53 securities compared to 58 on Friday, with 18 rising, 23 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.4. The JSE Main and USD Market PE ratios computation incorporates ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
A total of, 15,830,208 shares were exchanged for $289,905,809 versus 15,475,154 units at $415,509,572 on Friday. Kingston Wharves led trading with 5.26 million shares for 33.2 percent of total volume, followed by Wigton Windfarm with 2.23 million units for 14.1 percent of the day’s trade. Pulse Investments chipped in with 1.56 million units for 9.8 percent market share, Transjamaican Highway traded 1.21 million units for 7.7 percent market share and 1834 Investments, 1.21 million units for 7.6 percent market share.
Trading averages 298,683 units at $5,469,921 compared to 266,813 shares at $7,163,958 on Friday. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and four stocks with lower offers.
At the close, Caribbean Cement declined $4.08 to $71.10, trading 20,681 shares, Eppley climbed $3.50 to end at $42.50 after exchanging 219 units, Eppley Caribbean Property Fund advanced $1 after ending at $47 and closed with 218 stocks changing hands. GraceKennedy gained $3.93 to close at $108.95 in trading 124,384 stock units, Jamaica Stock Exchange popped $1.50 in closing at $23.50 in exchanging 91,578 stocks, Kingston Wharves dropped $7.50 to close at $34, with 5,261,318 shares changing hands. NCB Financial fell $4.05 to $110.25 in exchanging 21,645 units, Palace Amusement shed $30.01 in ending at $920 while exchanging 13 stock units, Portland JSX rose $1.40 to end at $12.40 after finishing trading of 30 stock units. Proven Investments lost 38 cents in closing at $36.12 after 16,895 units passed through the market,
Salada Foods increased 59 cents in a finish at $6.69 after 192,342 shares crossed the exchange, Scotia Group shed 40 cents to end at $35.80 with an exchange of 29,148 stocks. Supreme Ventures rallied $1 to $28.50, trading 523,606 units, Sygnus Credit Investments advanced 52 cents to close at $17 with the swapping of 164,871 stocks, Sygnus Real Estate Finance declined $1.19 in ending at $15.11 after switching ownership of 1,346 stock units and Wisynco Group rallied $1.50 in closing at $24.50 in an exchange of 106,590 shares.
In the preference segment, Jamaica Public Service 9.5% fell by $397.50 to close at $2650 after 13,184 shares crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big gains for several ICTOP10 stocks
With just one third of 2022 elapsing, it is an excellent time to look at what the markets and ICInsider.com forecast have done. The Junior Market gained 29.85 percent to the end of April, or half of the entire year forecast of 60 percent, made at the start of the year and in the process, the market has surpassed the 29.7 percent gains it achieved in 2021 for the entire year.
The Main Market that ICInsider.com forecast to deliver a 14 percent rise for the year struggles to break from consolidation so far, with a rise of just 4.8 for the four months to April and is consistent with a 14 percent increase for the year. It is quite likely that the market PE could climb closer to a PE of 18, which will push the annual gains to around 30 percent if the financial stocks show good increases in profit for the year. That is a very likely situation as the hike in interest rates is driving net interest income sharply upwards.
At the beginning of the year, ICInsider.com stated, “the market is technically at a support level that is steering the index upwards. More importantly, it is caught in a triangular formation setting to push the market sharply upwards once it breaks out, which is not far off. The market is trading in a channel that goes back to May 2020, pointing to a record high of over 4,000 points in a few months.” So far, the above forecast is spot on.
In addition to the Top15 selection for each market at the start of the year, we added a few stocks. There were nine winning stocks with good gains. The list includes AMG Packaging 73 percent, Dolphin Cove 47 percent, Elite up 26 percent, Everything Fresh 83 percent, iCreate 263 percent, Jetcon 75 percent, Spur Tree Spices 215 percent, Stationery and Office Supplies 46 percent and Tropical Batteries up 124 percent for the year to date and up 64 percent since ICInsider.com added it was added to the TOP10 on February 25. Caribbean Cream, down 7 percent, is the only Junior Market stock selection to fall.
The big TOP15 winners for the Main Market are Caribbean Producers, up 42 percent, Jamaica Stock Exchange at 22 percent, JMMB Group at 16 percent and Proven at 14 percent. Berger Paints, down 7 percent, Jamaica Broilers, with a fall of 3 percent and Scotia Group, down one percent, are the only losers in this segment.
For the week, the only new listing to TOP10 is tTech replacing Jetcon, that held on to a gain of 16 percent to top the ICTOP10 Junior Market movers and dropped out of the TOP10, followed by Medical Disposables with 14 percent after a block of shares that was overhanging the market was taken out by buyers. AMG Packaging rose 9 percent, Caribbean Cream rose 6 percent and Caribbean Assurance Brokers shed 9 percent.
In the Main Market, Sygnus Credit Investments rose 8 percent to end at $16.48 and Caribbean Cement gained 6 percent to close at $75.18.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15, while the Junior Market PE for the Top 10 sits at 6.1 versus the market at 14.2. The Junior Market TOP10 is projected to gain an average of 239 percent to May 2023 and the Main Market 197 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
JSE Main Market ends April with gains
Market activity ended on the Jamaica Stock Exchange Main Market on Friday, with the volume of shares trading rising 51 percent with a 290 percent higher consideration than on Thursday and closed with rising stocks exceeding those declining.
The All Jamaican Composite Index rose 608.23 points to end at 459,174.28, the JSE Main Index gained 658.02 points to close at 401,858.38 and the JSE Financial Index added 0.36 points to settle at 94.68.
Trading ended with 58 securities against 57 on Thursday, with 28 rising, 18 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 15,475,154 shares were exchanged for $415,509,572 versus 10,243,525 units at $106,618,802 on Thursday. Productive Business Solutions 9.75% Preference share led trading with 2.88 million shares for 18.6 percent of total volume, followed by Wigton Windfarm with 2.71 million units for 17.5 percent of the day’s trade, QWI Investments with 2.06 million units for 13.3 percent market share, Transjamaican Highway with 1.75 million units for 11.3 percent market share and Sagicor Select Financial Fund with 1.40 million units for 9 percent market share.
Trading averages 266,813 units at $7,163,958, compared to 179,711 shares at $1,870,505 on Thursday and month to date, an average of 532,209 units at $5,709,319, compared to 547,329 units at $5,626,441 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement climbed $4.18 after ending at $75.18 with the swapping of 90,129 shares, Eppley fell 60 cents to $39, with 4,468 stocks crossing the market, Eppley Caribbean Property Fund gained $4 in closing at $46 after switching ownership of 406 units. GraceKennedy declined $1.98 to end at $105.02 in trading 159,168 stock units, Jamaica Broilers rose 69 cents to close at $28.99 with 31,681 stocks clearing the market, Jamaica Stock Exchange dropped $1 to end at $22 after trading 15,821 shares. JMMB Group shed $1.64 to end at $45.86 in an exchange of 245,642 stock units, Kingston Properties rallied $1.26 in closing at $8.76 in trading 45,860 units, Kingston Wharves advanced $1 to $41.50, with 11,413 shares crossing the exchange. Mayberry Jamaican Equities popped 81 cents to close at $12.19 after exchanging 69,283 stocks, NCB Financial increased $4.29 in closing at $114.30 after trading 54,958 stock units, PanJam Investment advanced 75 cents to close at $66.05 with an exchange of 103,511 units. Proven Investments climbed 75 cents to $36.50 while trading 38,114 shares, Radio Jamaica rose 32 cents to end at $3.07, with 435,979 units changing hands, Sagicor Group popped 69 cents to $57.49 after 35,078 stock units crossed the market. 
Seprod jumped $4.08 to end at $62.09 while exchanging 35,510 stocks, Supreme Ventures lost $1.50 to end at $27.50 in exchanging 700,929 units, Sygnus Credit Investments rallied 91 cents to close at $16.48 in trading 116,481 stocks and Wisynco Group shed $1.50 to close at $23 in switching ownership of 144,718 stock units.
In the preference segment, Eppley 7.50% preference share lost 80 cents in closing at $7 after an exchange of 552 shares, Jamaica Public Service 9.5% gained $397.50 while ending at $3047.50 after exchanging 44 stock units and Productive Business Solutions 9.75% Preference share declined $18 in closing at $102 while trading 2,877,625 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rally for JSE Main Market
Activity ended on the Jamaica Stock Exchange Main Market on Wednesday, with the volume of stocks traded declining 12 percent and the value 131 percent more than on Tuesday as stocks declining exceeded those rising.
The All Jamaican Composite Index rose 2,293.01 points to 458,821.97, the JSE Main Index rallied 1,632.06 points to end at 401,425.56 and the JSE Financial Index lost 0.62 points to settle at 94.04.
Trading ended with 58 securities versus 59 on Tuesday, with 22 rising, 23 declining and 13 unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.2. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 11,782,128 shares were traded for $388,157,374 versus 13,458,702 units at $167,729,641 on Tuesday. Productive Business Solutions 9.75% Preference share led trading with 2.88 million shares for 24.4 percent of total volume, followed by Transjamaican Highway with 2.33 million units for 19.8 percent of the day’s trade, Wigton Windfarm with 1.16 million units for 9.8 percent market share and Supreme Ventures with 1.10 million units for 9.3 percent market share.
Trading averages 203,140 units at $6,692,369, compared to 228,120 shares at $2,842,875 on Tuesday and month to date, an average of 241,594 units at $4,975,252, compared to 261,512 units at $4,086,031 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints fell $1 in ending at $10 after exchanging 22,941 shares, Caribbean Cement rose $2.56 in closing at $69.71, with 2,840 stocks clearing the market, Caribbean Producers shed 42 cents to close at $18.06 after 245,495 units crossed the market. Eppley declined $2.35 to end at $40.15, with 24 stock units changing hands, Eppley Caribbean Property Fund gained $1.50 to close at $48.50, with an exchange of 3,852 stocks, First Rock Capital dropped $1.61 to close at $11.65 with the swapping of 62,868 stock units. GraceKennedy increased $4 in ending at $111 after 15,712 units changed hands, Guardian Holdings lost $4.20 to $515.85 after exchanging 1,501 shares, Jamaica Producers rose $1.65 in closing at $23.95, with 18,035 stocks crossing the market. Jamaica Stock Exchange lost $1.15 to end at $22.25 in exchanging 25,044 units, JMMB Group climbed $2.50 to $47.90 while exchanging 122,925 stock units, Kingston Wharves popped $1.50 to close at $40 in switching ownership of 5,583 shares. Massy Holdings fell 30 cents to $98.70 in trading 3,935 units, Mayberry Investments rallied 50 cents to $9.25 in an exchange of 160,607 shares, MPC Caribbean Clean Energy dropped $1 in closing at $101 after trading 500 stocks. NCB Financial declined $7.70 to end at $106.40 after trading 33,801 stock units, Palace Amusement shed $14.83 to $1000.17, with 33 shares crossing the exchange, Proven Investments advanced 99 cents to close at $37.99, with 30,660 stock units crossing the exchange. 
Sagicor Group shed 97 cents in closing at $57 after trading 12,371 units, Scotia Group declined $1.13 to $35 trading 48,867 stocks, Seprod rose $4.70 to $63 in an exchange of 44,160 stocks before the release that the company is to acquire AS Bryden group based in Trinidad and Tobago. Supreme Ventures rallied $1.50 in ending at $30, with 1,096,408 stock units crossing the market, Sygnus Real Estate Finance fell $2.45 in closing at $15.60 after trading 835 shares and Wisynco Group lost 65 cents to close at $24.20 with 112,378 units clearing the market.
In the preference segment, Eppley 5% preference share dropped $1.15 to end at $19.85, with 799 shares crossing the market, JMMB Group 7.25% preference share gained 30 cents to end at $3.49 after exchanging 1,562 stocks and Productive Business Solutions 9.75% preference share shed $9.45 in closing at $108.25 while trading 2,877,023 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE Main Market
Market activity ended Wednesday on the Jamaica Stock Exchange Main Market with the volume of shares trading slipping 24 percent, with the value down 42 percent lower than on Tuesday as declining stocks exceeded those rising almost two to one.
The All Jamaican Composite Index popped 1,335.55 points to 455,179.03, the JSE Main Index added 2,893.91 points to close at 398,414.13 and the JSE Financial Index rallied 0.08 points to settle at 93.85.
Trading ended with 55 securities dow from 56 on Tuesday, with 18 rising, 31 declining and six ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 13.8. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 11,475,491 shares were exchanged for $82,613,781 versus 15,176,491 units at $142,162,730 on Tuesday. JMMB Group, 7.35% due 2028, led trading with 3.01 million shares for 26.2 percent of total volume, followed by Transjamaican Highway with 1.82 million units for 15.9 percent of the day’s trade and Wigton Windfarm with 1.31 million units for 11.5 percent market share.
Trading averages 208,645 units at $1,502,069, compared to 271,009 shares at $2,538,620 on Tuesday and month to date, an average of 569,134 units at $5,849,218, compared to 591,018 units at $6,113,118 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Caribbean Cement rose $1 to $71, with 20,051 shares crossing the exchange, Carreras advanced 30 cents to $9.70 in switching ownership of 102,998 stocks, Eppley Caribbean Property Fund gained $2.50 to close at $47, with 395 stock units crossing the market. GraceKennedy increased $6.86 to end at a 52 weeks’ closing high of $111.88 with 79,927 units changing hands, Guardian Holdings climbed $15 in closing at $535 in an exchange of 86 stocks, Jamaica Broilers fell 58 cents to close at $27.92, with 96,395 units clearing the market. Jamaica Producers declined 90 cents to $22 while exchanging 86,290 shares, JMMB Group rallied $1.78 in closing at $47.96 after 157,286 stock units changed hands, Kingston Wharves popped $1.13 to $40.15 to close as 3,374 stock units passed through the exchange. Margaritaville dropped 40 cents to end at $25 with the swapping of 80 stocks, Mayberry Investments lost 41 cents in ending at $8 after exchanging 75,941 units, Mayberry Jamaican Equities shed 40 cents to close at $11.60 with an exchange of 377,042 shares. MPC Caribbean Clean Energy declined $4 to end at $111, trading 17 units, Palace Amusement popped $20 to $940 in trading five shares, PanJam Investment shed 70 cents in closing at $64.30 in exchanging 1,101 stocks. 
Portland JSX dropped 99 cents to $11 after exchanging 1,325 stock units, Proven Investments lost $1.78 in ending at $36 and trading 6,383 shares, Seprod fell 98 cents to end at $59.02 in switching ownership of 53,166 stock units. Supreme Ventures declined $2.50 in closing at $27 with the swapping of 339,249 units, Sygnus Credit Investments shed 38 cents to close at $15.62, with 121,541 stocks crossing the market, Sygnus Real Estate Finance gained 30 cents in ending at $16 and trading 400 shares and Wisynco Group lost 93 cents to close at $23.50 in exchanging 134,531 units.
In the preference segment, Jamaica Public Service 9.5% fell $47.63 in closing at $3000 in trading 700 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Altitude lost by JSE Main Market
Market activity ended Tuesday, with the volume of shares trading slipping 6 percent and the value down 29 percent compared to Monday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining.
The All Jamaican Composite Index shed 3,688.91 points to settle at 453,843.48, the JSE Main Index dropped 4,034.35 points to 395,520.22 and the JSE Financial Index popped 0.14 points to settle at 93.77.
A total of 56 securities traded, up from 54 on Monday, with 28 rising, 19 declining and nine ending unchanged.
The PE Ratio, a formula used for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 15,176,491 shares trade for $142,162,730 versus 16,226,995 units at $199,541,155 on Monday. 1834 Investments led trading with 3.36 million shares for 22.2 percent of total volume after trading at a 52 weeks’ high of $1.33. Pulse Investments followed with 1.61 million units for 10.6 percent of the day’s trade and Wigton Windfarm with 1.49 million units for 9.8 percent market share. Transjamaican Highway ended with 1.44 million units for 9.5 percent market share and Sagicor Select Financial Fund with 1.21 million units for 8 percent market share.
Trading averages 271,009 units at $2,538,620, down from 300,500 shares at $3,695,207 on Monday and month to date, an average of 591,018 units at $6,113,118, compared to 612,101 units at $6,348,614 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints climbed 34 cents in closing at $11.90 after 42,428 shares crossed the market, Caribbean Cement popped 30 cents to $70 in trading 35,496 stock units, Caribbean Producers dropped 57 cents to end at $17.91, with 374,412 units clearing the market. Eppley advanced $4.79 to $42.79 in switching ownership of 519 stocks, Eppley Caribbean Property Fund rose $2.50 to close at $44.50 after exchanging 1,841 stock units, First Rock Capital rallied 84 cents in ending at $12.49 after 920 stocks changed hands. GraceKennedy gained 94 cents to close at $105.02 after hitting an intraday 52 weeks’ high of %115, in an exchange of 564,310 units, Guardian Holdings increased $20 to end at $520 with 4 shares changing hands, Jamaica Producers advanced $1.40 in closing at $22.90, in an exchange of 6,544 stocks. Jamaica Stock Exchange popped $2.79 to $22.99 in trading 14,390 units, Key Insurance rose 40 cents to $4.90, with 2,032 shares crossing the exchange, Kingston Properties rallied 80 cents to end at $8.30, trading 17,220 stock units. NCB Financial shed $1 to close at $113 while exchanging 10,792 stocks, PanJam Investment climbed $1 in closing at $65 with the swapping of 12,153 shares, but only after trading at an intraday low of $60. Portland JSX gained 99 cents ending at 52 weeks’ high of $11.99 after trading 16,976 units. 
Proven Investments increased 78 cents to $37.78, with 32,813 stock units changing hands, Pulse Investments lost 33 cents at $3.83, with 1,608,039 shares crossing the market, Scotia Group advanced $1.09 in closing at $35.99 with the swapping of 14,538 stocks. Seprod declined $1.30 to close at $60 while exchanging 19,204 stock units, Sygnus Credit Investments climbed $1 to end at $16, 559,203 units crossing the market, Sygnus Real Estate Finance fell 40 cents in ending at $15.70 after exchanging 8,400 stocks and Wisynco Group rose 43 cents to end at 52 weeks’ high of $24.43, with 389,223 stock units crossing the market.
In the preference segment, Eppley 7.50% preference share popped 69 cents to $7.59 in an exchange of 205 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Pull back for JSE Main market
Investors pushed stocks higher in early trading Monday, on the Jamaica Stock Exchange Main Market, but the market pulled back by the close, with the volume of shares changing hands rising just 7 percent above Friday level with the value up 116 percent higher as losing stocks outpaced those gaining.
The All Jamaican Composite Index rose 77.65 points to 457,532.39, the JSE Main Index skidded 2,186.81 points to 399,554.57 and the JSE Financial Index declined 0.79 points to settle at 93.63.
Trading ended with 54 securities compared to 53 on Friday, with 18 rising, 28 declining and eight ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.6. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s earnings forecast for companies with financial years, ending up to the close of August 2023.
Overall, 16,226,995 shares were traded for $199,541,155 versus 15,175,474 units at $92,468,488 on Friday. Radio Jamaica led trading with 2.87 million shares for 17.7 percent of total volume followed by Transjamaican Highway with 2.13 million units for 13.1 percent of the day’s trade and Sagicor Select Financial Fund with 2.05 million units for 12.6 percent market share. Wigton Windfarm ended with 1.78 million units for 11 percent market share and Pulse Investments exchanged 1.37 million units for 8.4 percent market share.
Trading averages 300,500 units at $3,695,207, compared to 286,330 shares at $1,744,688 on Friday and month to date, an average of 612,101 units at $6,348,614, compared to 633,240 units at $6,528,619 on the previous trading day. March trading averaged of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, Caribbean Cement declined $1.30 to $69.70 in an exchange of 36,677 shares, Eppley dropped $4.75 to close at $38 after exchanging 3,280 stock units, Eppley Caribbean Property Fund fell $3 to end at $42 with the swapping of 3,478 units. First Rock Capital shed 64 cents to close at $11.65 in switching ownership of 18,984 stocks, GraceKennedy lost $1.09 after ending at $104.08 after 850,418 units crossed the market, Guardian Holdings shed $45 to close at a 52 weeks’ low of $500 in trading 41,380 stocks. Jamaica Producers fell $1.50 in closing at $21.50, with 39,313 stock units crossing the exchange, Jamaica Stock Exchange lost $1.80 in ending at $20.20 while exchanging 23,033 shares, Kingston Properties dropped 30 cents to $7.50 after exchanging 82,311 stock units. Kingston Wharves declined $1 to end at $39 in trading 8,542 units, Mayberry Investments fell 50 cents to end at $8.50, with 135,684 stocks crossing the market, Mayberry Jamaican Equities dropped 45 cents in closing at $12 and trading 52,157 shares. NCB Financial declined $2 to close at $114 with an exchange of 43,690 shares, 1834 Investments, fresh after the announcement of a proposed scheme of arrangements between themselves and Radio Jamaica traded 511,310 after the price jumped 28 cents to a 52 weeks’ high of $1.13, Palace Amusement lost $80 to end at $920, with 139 units clearing the market, PanJam Investment shed $1.01 in ending at $64 in exchanging 13,857 stock units. 
Proven Investments fell 82 cents to close at $37, with 31,375 stocks changing hands, Radio Jamaica rallied 43 cents to $3.19 after trading 2,867,013 stocks, following the announcement of a proposed scheme of arrangements between themselves and 1834 Investments that will see RJR absorbing the assets and liabilities of 1834. Salada Foods popped 34 cents ending at $6.42 while exchanging 155 units. Scotia Group shed 30 cents to end at $34.90 after 104,230 stock units crossed the exchange, Seprod lost 50 cents to end at $61.30 trading 1,170 shares and Supreme Ventures dropped $2.45 to end at $29.55 after exchanging 462,521 stock units.
In the preference segment, 138 Student Living Preference shares dropped $2.05 in closing at $10.50, with 381 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Former ICTOP10 stock jumps 130%
The star performer for the week was iCreate, up 132 percent and Supreme Ventures, with a 30 percent price movement in the market during the week, but several ICTOP10 stocks had some noted moves as well.
iCreate hits a low of 80 cents on Thursday.
iCreate, more than doubled, surging from the previous week’s $1.36 close to $3.16. The move coincides primarily with two acquisition announcements with little or no information given as to the cost and funding, leading to wild speculation in the stock. Supreme Ventures (SVL) stock jumped to a 52 weeks’ high of $33.41 from $24.49 at the end of the previous week. The SVL was more solidly based as the company reported solid increased profits for the March quarter as investors pushed the price sharply higher in response.
There are two changes to this week’s ICTOP10 listing. Lasco Distributors returns to the Junior Market TOP10 as Stationery and Office Supplies slipped out. The latter rose 15 percent to close the week at $9.11. The expectations are that the company will have blowout first quarter results, helped by school opening and following a strong 2021 fourth quarter. The Main Market welcomed back Jamaica Stock Exchange share that will benefit from an upsurge in trading activity in the first quarter as Scotia Group fell out, still looking attractively priced at $35.20, with Bank of Jamaica increasing interest rates is positively impacting the results.
The Junior Market ended with three stocks rising from 8 to 15 percent. Caribbean Assurance Brokers climbed 10 percent for the week while Jetcon Corporation rose 8 percent to close at $1.40. Declining were Lasco Financial, down 8 percent and Access Financial and AMG Packaging, down 5 percent, as buying eased markedly following improved results released at the close of the market ahead of the Easter weekend. Investors seem not to be factoring in cost savings and increased efficiency that the newly installed machine brings to the business following the close of the recent quarter. With a 5 percent rise, Guardian Holdings was the biggest mover in the Main Market.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.8, while the Junior Market PE for the Top 10 sits at 6 versus the market at 13.8. The Junior Market TOP10 is projected to gain an average of 249 percent by May 2023 and the Main Market 200 percent.
ICTOP10 focuses on likely yearly winners; accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
SVL pushes JSE Main market to big gains
Market activity ended on Friday, with the volume of shares trading rising 32 percent and the value 47 percent higher than on Thursday on the Jamaica Stock Exchange Main Market and ended with declining stocks edging out those rising but a surge in the stock price of Supreme Ventures following the release of first quarter results lighted the Market index, to close at the highest level since early September last year.
The All Jamaican Composite Index jumped 6,436.56 points to 457,454.74, the JSE Main Index surged 5,124.13 points to 401,741.38 and the JSE Financial Index rose 0.47 points to settle at 94.42.
Just 53 securities traded, down from 55 on Thursday, with 19 rising, 23 declining and 11 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.8. The JSE Main and USD Market PEs are based on forecasted earnings done by ICInsider.com for companies with financial years ending up to the end of August 2023.
Overall, 15,175,474 shares were traded for $92,468,488 versus 11,479,146 units at $63,066,105 on Thursday. Sagicor Select Financial Fund led trading with 4.08 million shares for 26.9 percent of total volume followed by Radio Jamaica with 2.66 million units for 17.5 percent of the day’s trade, 
Transjamaican Highway, 2.52 million units for 16.6 percent market share and Wigton Windfarm that ended with 2.33 million units changing hands for 15.4 percent market share.
Trading averages 286,330 units at $1,744,688 compared to 208,712 shares at $1,146,656 on Thursday and month to date, an average of 633,240 units at $6,528,619, compared to 657,986 units at $6,869,869 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints dropped 50 cents, to close at $11.50, with16,230 stock units crossing the market, Caribbean Producers advanced 25 cents to $18.30, with 68,707 units changing hands. Eppley popped 75 cents to $42.75 in an exchange of 275 stocks, First Rock Capital increased 29 cents to end at $12.29 in switching ownership of 7,282 units, Guardian Holdings gained $5 to close at $545, with 760 stocks clearing the market. Jamaica Stock Exchange declined 20 cents in closing at $22 after exchanging 31,247 stock units, Kingston Wharves lost $1.89 at $40 after trading 69,878 shares, Mayberry Investments climbed $1 to $9 with 216,110 units changing hands. Mayberry Jamaican Equities rallied 20 cents to end at $12.45 with the swapping of 108,690 shares, NCB Financial rose $5.50 to $116 in exchanging 78,854 stocks, 138 Student Living shed 24 cents in closing at $5 after trading 1,000 shares, Palace Amusement increased $1 to close at $1000 trading 25 stock units. 
Sagicor Group fell $1.35 in closing at $56 after exchanging 979 stock units, Salada Foods lost 32 cents to end at $6.08 while exchanging 2,147 shares, Scotia Group rose 20 cents to $35.20 with an exchange of 45,747 units. Supreme Ventures rallied $4.50 to close at a 52 weeks’ high of $32, with 341,205 stocks crossing the exchange after the price hit an intraday high of $33.41. Sygnus Credit Investments declined 20 cents in ending at $15.20 after an exchange of 178,651 stocks, Sygnus Real Estate Finance climbed 40 cents to $16 while trading 2,917 shares and Wisynco Group popped 53 cents in closing at $23.98 in trading 230,185 stock units.
In the preference segment, 138 Student Living Preference shares shed $3.95 to end at $12.55 trading 421 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big recovery for JSE Main Market
Market activity dropped sharply on Thursday, with the volume of shares trading declining 55 percent and valued 85 percent than on Wednesday at the close of the Jamaica Stock Exchange Main Market as rising stocks doubled those falling.
All Jamaican Composite Index rallied 7,875.42 points to 451,018.18, the JSE Main Index added 6,575.09 points to end at 396,617.25 and the JSE Financial Index increased 1.50 points to 93.95.
Trading ended with 55 active securities down from 59 on Wednesday, with 27 rising,13 declining, and 15 unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.8. The PE ratio for the JSE Main and USD Market closing quotes is based on ICInsider.com earnings forecasts for companies with financial years ending on or before the close of August 2023.
Overall, 11,479,146 shares traded for $63,066,105 versus 25,782,899 units at $428,646,320 on Wednesday. Wigton Windfarm led trading with 2.66 million shares for 23.2 percent of total volume, followed by JMMB Group’s 7.5% preference share, 2.44 million units for 21.3 percent of the day’s trade. Transjamaican Highway ended with 2.28 million units for 19.8 percent market share and Pulse Investments ended with 1.07 million units changing hands for 9.4 percent market share.
Trading averages 208,712 units at $1,146,656, compared to 436,998 shares at $7,265,192 on Wednesday and month to date, an average of 657,986 units at $6,869,869, compared to 693,901 units at $7,327,393 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
Barita Investments fell 35 cents at the close, ending at $90 with the swapping of 10,223 shares, Berger Paints popped 50 cents to end at $12 while exchanging 79 stocks, Eppley climbed $1.95 to $42 after trading 15 units. GraceKennedy lost $8 to close at $105 in exchanging 188,487 stock units, Guardian Holdingsgained $12 in closing at $540 after 563 shares crossed the market, Jamaica Broilers shed 49 cents in closing at $28.50 with an exchange of 3,572 stock units. Jamaica Stock Exchange dropped $1.79 in ending at $22.20, with 20,702 stocks changing hands, JMMB Group advanced $1.25 to $46.10 after 73,132 units changed hands, Kingston Properties rose 30 cents to $7.80 in switching ownership of 33,576 stocks. Kingston Wharves rose $7.89 to close at $41.89, trading 8,742 units, Mayberry Jamaican Equities rallied 74 cents to end at $12.25 in an exchange of 159,712 stock units, MPC Caribbean Clean Energy popped $4 in closing at $115 in trading 12 shares. NCB Financial declined $1.50 to close at $110.50, with 21,377 shares crossing the market, Palace Amusement declined $1 to $999 in exchange of 91 units, Proven Investments climbed $1.32 to $37.82 with 9,589 stocks changing hands. 
Sagicor Group rallied $2.35 to end at $57.35 with 19,646 stock units crossing the exchange, Seprod rose $2.48 in closing at $61.98 with 7,955 shares clearing the market, Supreme Ventures advanced $2.50 to $27.50 187,127 stocks crossing the market and Wisynco Group gained 45 cents to close at $23.45 trading 132,559 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.