Market activity ended on Wednesday, with the indices rebounding strongly, but trading ended with prices of more stocks declining than rising after the volume and value traded dropped 41 percent and 92 percent respectively from Tuesday’s outturn on the Main Market of Jamaica Stock Exchange.
The JSE All Jamaican Composite Index surged 4,192.74 points to close at 453,321.02, the Main Index climbed 3,384.75 points to 412,952.02 and the JSE Financial Index rose 0.88 points to 101.00.
Trading ended with 51 securities similar to Tuesday, with 17 stocks rising, 24 declining and 10 remaining unchanged. Caribbean Cement and Radio Jamaica closed at a 52 weeks’ high and Guardian Holding traded at an intraday low. The PE Ratio, a measure used to compute appropriate stock values, averages 15.4 based on ICInsider.com forecast of 2021-22 earnings.
The market closed with 10,754,378 shares trading for $69,882,256 versus 18,303,242 units at $861,108,533 on Tuesday. Wigton Windfarm led trading with 34.8 percent of total volume for an exchange of 3.75 million shares followed by Transjamaican Highway 16 percent with 1.73 million units and Radio Jamaica controlling 12.7 percent after exchanging 1.36 million units.
Trading averages 210,870 units at $1,370,240, down from 358,887 shares at $16,884,481 on Tuesday, with the month to date averaging 519,351 units at $9,028,808, in contrast to 540,468 units at $9,552,607 on Tuesday. July trading averaged 322,932 units at $15,201,099.
Investor’s Choice bid-offer indicator reading has 11 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments rallied 23 cents to $93 with the swapping of 238,128 shares, Berger Paints picked up 38 cents to close at $13.50 after 9,273 units crossed the market, Caribbean Cement advanced $2 in closing at a 52 weeks’ high of $106 in exchanging 16,232 stocks. Eppley shed 76 cents to $41.10 with 3,542 stocks changing hands. Eppley Caribbean Property Fund dropped $2.91 to $36.50 in trading 10,721 shares, First Rock Capital fell $1.29 to $11.50 with 24,143 stock units crossing the market, GraceKennedy rose $1.10 to $102.10 after an exchange of 36,878 stocks. Guardian Holdings popped $16 to $591 in transferring 1,039 units, Jamaica Producers spiked 70 cents to $22.20 in switching ownership of 7,557 stock units. Jamaica Stock Exchange rallied 83 cents to $17.20 with the swapping of 48,002 shares, Key Insurance lost 20 cents in ending at $4.20 after an exchange of 18,976 stock units, Kingston Properties fell $1.25 to $9 with a transfer of 2,000 units.
Kingston Wharves gained 50 cents to $48.50 with 2,000 stocks clearing the market, Mayberry Jamaican Equities lost 75 cents in closing at $8.60 with the swapping of 7,592 stock units, NCB Financial Group slipped 25 cents to $130 with 8,867 stocks changing hands. Palace Amusement dropped $84 to $950 in trading 30 shares, Portland JSX rose $1 to $8 in switching ownership of 1,754 stocks. Radio Jamaica popped 35 cents ending at a 52 weeks’ closing high of $4.65 after exchanging 1,362,141 shares. Sagicor Group rallied $4.60 to $56.60 in trading 160,355 stock units, Scotia Group shed 88 cents to $39.12 with 10,802 units crossing the exchange, Seprod shed $1 to $63 with the swapping of 4,784 stocks, Sygnus Credit Investments slipped 45 cents to $14.30, with 55,555 stock units crossing the market.
In the preference segment, JMMB Group 7.35% – 2028 lost 28 cents to end at $3 with an exchange of 351,177 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks declined for a sixth straight day at the close of activity on the Main Market of the Jamaica Stock Exchange on Tuesday, with the market trading 66 percent more stock units, after 53 percent more funds supported trading activity over that on Monday.
At the close, Barita Investments lost 23 cents in ending at $92.77 in trading 34,183 shares, Berger Paints fell 48 cents to $13.12 after 913 stock units changed hands, Caribbean Cement surged $7 to a record high of $104 while exchanging 49,694 stocks. GraceKennedy popped $1 to $101 in trading 63,601 shares, Guardian Holdings dropped $30 to an all-time low of $575 with an exchange of 8,493 units. Jamaica Producers shed $1.99 to close at $21.50, exchanging 226,120 shares, Jamaica Stock Exchange fell 87 cents to $16.37 after exchanging 18,340 stocks. JMMB Group dropped 99 cents to $38 in an exchange of 94,028 stock units, Kingston Wharves gained $1.49 to end at $48, after 15,658 shares crossed the market, NCB Financial Group shed $1.29 to $130.25, with 5,861,813 stock units crossing the market, Palace Amusement spiked $72.99 to $1034, with 93 units clearing the market, PanJam Investment shed $2.50 to $62.50, with an exchange of 2,513 shares. Proven Investments rose 40 cents to $33 after 5,768 stocks changed hands, Radio Jamaica bolted 80 cents to a 52 weeks’ high of $4.04 after trading 5,994,344 stock units.
Sagicor Group lost $5.25 in ending at $52 after exchanging 169,589 stock units, Seprod fell $3.50 to $64 with 8,721 stocks changing hands. Supreme Ventures dropped 48 cents to close at $18.02 trading 164,627 stocks and Sygnus Credit Investments declined 25 cents to end at $14.75 in trading 62,463 shares.
Investor’s Choice bid-offer indicator reading has 11 stocks ending with bids higher than their last selling prices and eight stocks with lower offers.
Palace Amusement shed $63.99 to $961.01 while exchanging 171 stock units, Proven Investments rose $2.55 to $32.60 in trading 69,166 units, Sagicor Group rose 25 cents to $57.25 in an exchange of 169,719 shares, Scotia Group climbed $1.20 to $40 while exchanging 27,735 stocks, Seprod declined 50 cents to close at $67.50 after exchanging 5,025 units. Supreme Ventures shed 50 cents to $18.50, 7,932 stocks changing hands, Sygnus Credit Investments spiked 98 cents to $15 in switching ownership of 47,248 stock units and Wisynco Group rallied 19 cents to $15.84, with 35,271 shares clearing the market.
Dolphin Cove reported a profit of US$1.24 million in the June quarter or 49 cents in Jamaican currency, thus wiping out the first quarter loss of US$155,000 and seems on target to generate around $3.3 million in profit for the year.
The smart money bought 52 million shares on April 6 last year, at an average of $1.33. On April 13, 95.4 million units were picked up and 67.7 million on April 27 at $1.26. The next big buy was August 17th, with 10 million units at $1.30 and 0n October 19 with 20 million units.
The top three stocks in the Junior Market are Elite Diagnostic, followed by Stationery and Office Supplies that fell on Friday to $5.75, from $7.43 last week and General Accident, with all three having the potential to gain between 221 percent and 295 percent, compared to 256 and 336 percent, last week.
This past week the average gains projected for the Junior Market moved from 193 percent to 207 percent and Main Market stocks from 180 percent to 172 percent.
The Main Market TOP 10 trades at a PE of 7.6, with a 41 percent discount to the PE of that market, well off the potential of 20.
The All Jamaican Composite Index slipped 158.71 points to 454,372.96, the Main Index dropped 804.45 points to settle at 414,361.10 and the JSE Financial Index dipped 0.08 points to end at 102.30.
Trading averaged 2,918,627 units at $27,295,100, compared to 420,806 shares at $3,500,435 on Thursday. Month to date Trading averages 576,923 units at $8,797,046, in contrast to 376,542 units at $7,214,159 on Thursday. July ended with an average of 322,932 units at $15,201,099.
PanJam Investment advanced $3.18 to $65 with the swapping of 1,559 units, Portland JSX dived $2.20 to $7, with 4,824 stocks crossing the market, Proven Investments declined $3.97 to end at a 52 weeks’ low of $30.05 with an exchange of 56,205 shares. Pulse Investments shed 21 cents to close at a 52 weeks’ low of $3.09 in trading 628,045 stocks, Radio Jamaica rose 7 cents to end at a 52 week’s closing high of $3.57 in trading 2,732,191 units, Scotia Group shed 90 cents to $38.80 in trading 7,235 stock units. Seprod popped $6.80 to $68 with the swapping of 52,385 shares, Stanley Motta rose 67 cents to $5.90 in switching ownership of 2,079 units, Sygnus Credit Investments lost 93 cents to end at $14.02 in an exchange of 56,400 stocks and Victoria Mutual Investments rallied 41 cents to $5.76 after exchanging 13,647 stock units.
Investor’s Choice bid-offer indicator reading has 12 stocks ending with bids higher than their last selling prices and six with lower offers.
Radio Jamaica spiked 52 cents to end at 52 weeks’ closing high of $3.50, after hitting a new intraday high of $3.85 in the morning session, in completing an exchange of 669,972 stock units, Salada Foods rallied 28 cents to $7.39, with 2,552 units crossing the exchange, Scotia Group fell 30 cents to end at $39.70, with an exchange of 261,002 shares. Seprod declined $4.80 in closing at $61.20 in trading 21,923 stocks and Victoria Mutual Investments dipped 35 cents at $5.35 with 126,154 units clearing the market.
At the close, Barita Investments rallied $6.88 in closing at 52 weeks’ high of $97.88 with an exchange of 111,164 stock units, Caribbean Cement advanced $1.49 to $93.99 with 143,483 units crossing the market, Caribbean Producers gained 35 cents to end at $5 after clearing the market with 1,010 units, Eppley shed 66 cents to close at $40 with the swapping of 2,109 stocks, Eppley Caribbean Property Fund fell $1.16 to $40 in switching ownership of 1,679 shares, First Rock Capital shed 89 cents to $12.96 in exchanging 6,973 stocks. GraceKennedy fell $1.75 to $103.05 with 224,330 stock units crossing the market, Guardian Holdings dropped $20 to $650 in trading 7,082 shares, Jamaica Producers advanced $1.49 to end at $23.49 in an exchange of 19,072 stock units, Kingston Wharves fell 99 cents ending at to $46.51 with a transfer of 1,206 units. Margaritaville declined $1.79 to a 52 weeks’ low of $13.40 after exchanging 13,797 stocks, Mayberry Investments spiked 35 cents to $6 in switching ownership of 19,480 units, Mayberry Jamaican Equities rose 89 cents to $9.39 in transferring 12,440 shares.
MPC Caribbean Clean Energy rallied $16.80 to $137.80 after exchanging one stock unit, NCB Financial Group advanced $2 to $134 with 108,613 stock units crossing the market, Palace Amusement popped $89.20 to $1,140 with one share changing hands. PanJam Investment gained 40 cents to finish at $62 in switching ownership of 34,611 stocks, Radio Jamaica gained 23 cents to end at a 52 weeks’ high of $2.98 after 3,388,414 shares changed hands. Sagicor Group shed 78 cents to close at $57 after 28,498 stocks crossed the exchange, and Seprod spiked $1 to $66 with 13,166 shares changing hands.
Trading averaged 1,649,728 units at $31,269,659, compared to 672,476 shares at $37,672,811 on Monday. Trading month to date averages 391,623 units at $8,187,803, in contrast to 245,797 units at $5,512,406 on Monday. July ended with an average of 322,932 units at $15,201,099.
ry Investments slipped 55 cents to $5.65 with 45 units crossing the exchange. Mayberry Jamaican Equities shed 30 cents to $8.50 with the swapping of 800 stocks, MPC Caribbean Clean Energy spiked $1 to $121 with an exchange of 100 stock units, NCB Financial dropped $7.50 to $132 with an exchange of 4,246 shares. 138 Student Living dropped 65 cents to $4.45 in switching ownership of 2,945 stock units, Palace Amusement rallied $17.04 to $1,050.80 after 94 stocks cleared the market, PanJam Investment shed 82 cents to $61.60 with a transfer of 1,001,621 shares, Radio Jamaica gained 14 cents in closing at a 52 weeks’ high of $2.75 while exchanging 1,035,575 unit, Sagicor Group popped 28 cents to close at $57.78 with 186,602 stocks changing hands. Salada Foods shed 25 cents to end at $7.25 in exchanging 30,795 units. Scotia Group lost 31 cents to finish at $39.99 in an exchange of 35,083 stock units, Seprod dropped $4 to close at $65 with the swapping of 117,010 stocks, Supreme Ventures rose 44 cents in ending at $19 after 74,165,054 shares crossed the market and Sygnus Credit Investments popped 20 cents to $15.10 with 16,555 stocks changing hands.
At the close, Barita Investments spiked $7.24 to $90.24 with an exchange of 19,379,347 shares, Berger Paints gained 22 cents in ending at $13.74 after trading 54,600 stock units, Caribbean Cement fell $3.49 to $90.50, with the swapping of 7,931 stocks. Caribbean Producers dipped 36 cents $4.64 in transferring 13,326 units, Eppley rose $1.42 to $41.86 with 4,938 stock units crossing the market, First Rock Capital shed $1.50 to $12 with 29,541 stocks clearing the market, GraceKennedy fell $2 to $101 in switching ownership of 637,615 shares. Guardian Holdings slid $5 to $615 in trading 766 units, Jamaica Broilers lost 26 cents to end at $36.20 with 3,023,439 shares changing hands, Jamaica Producers rallied $1.98 to $23.48 in trading 6,300 stock units. JMMB Group declined $2.25 to $37.75 with 280,003 stocks crossing the exchange after trading at an intraday high of $43.47, Kingston Properties popped 20 cents to $9.50 after exchanging 1,301 stocks, Margaritaville popped $1.67 to $15.27 in an exchange of 5,047 shares, Mayberry Investments rose 45 cents to $6.20 in transferring 64,783 stock units. MPC Caribbean Clean Energy dropped $17.80 to $120 with an exchange of 2,500 units, NCB Financial spiked $7.50 to $139.50 after 35,309 stocks crossed the exchange, PanJam Investment shed 58 cents to $62.42 with 14,151 stock units clearing the market.
Proven Investments slipped $1.10 to $34.40 in exchanging 16,665 shares, Radio Jamaica gained 36 cents to close at a 52 weeks’ high of $2.61 with the swapping of 1,149,429 shares, Sagicor Group lost 40 cents t close at $57.50 with an exchange of 46,317 stock units, Salada Foods rallied 30 cents to $7.50 with the swapping of 21,230 shares, Scotia Group rose 70 cents to $40.30 with 7,222 stocks crossing the exchange. Seprod advanced $3 to $69 with 6,412 units changing hands, Stanley Motta dipped 58 cents to $5.41 in transferring 4,000 stock units and Supreme Ventures dipped 43 cents to $18.56 with 19,369 shares changing hands.
The bad news is that many persons ignore ICInnsider.com’s forecast of great things to come from the company, with many chasing after it on Friday after the release of the results on Thursday. Some readers bought into the vision but not all. The good news is that, with projected earnings of 45 cents per share, there is much room for this stock to run. The other good news is that there is much more to be gained by owning the stock as the company completes projects that will boost revenues and grow profits in the years to come.
With those strong results and the promise of 45 cents per share to be earned for this year and 80 cents in the next year, one would be forgiven if they felt that RJR should be dislodged from the ICTOP10 listing. Well, the top three Main Market stocks are headed again by Radio Jamaica, but the potential gains rose from 296 percent to 300 percent, even as the price moved up to a 52 weeks’ closing high of $2.25 from $2.02 last week, due to upgrading in the earnings to 45 cents per share or $1.1 billion. RJR is followed by
The PE Ratio of the TOP 10 Junior Market stocks trade at a 44 percent discount to the market average and Main Market stocks 54 percent, indicating the potential gains in these stocks compared with many of those outsides of them.
This past week, the average gains projected for the Junior Market moved from 218 percent to 193 percent and Main Market stocks to 180 percent from 175 percent.
The Junior Market Top 10 stocks average PE is a mere 6.9, just 54 percent of the market average, indicating substantial gains ahead.