Declining stocks dominated trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with trading in 55 securities compared with 57 on Tuesday and ended with prices of 26 declining, 15 rising and 14 ending unchanged after a 93 percent decline in the volume of stocks traded as the value dropped by 61 percent compared to Tuesday.
In total 7,777,704 shares were traded for $95,955,593, sharply down from 106,705,122 units at $248,485,563 on Tuesday.
Trading averaged 141,413 shares for $1,744,647 compared with 1,872,020 shares at $4,359,396 on Tuesday. Trading for the month to date, ended with an average of 313,426 units at $1,918,016, down from 330,381 units at $1,935,104, previously, well up on October that closed with an average of 214,410 units at $1,325,907.
Sagicor Select Manufacturing & Distribution Fund led trading with 2.43 million shares for 31.3 percent of total volume followed by Wisynco Group with 1.18 million units for 15.2 percent of the day’s trade and Transjamaican Highway with 1.06 million units for 13.6 percent of the day’s trade.
The All Jamaican Composite Index dropped 419.77 points to close at 349,209.36, the JSE Main Index rallied 57.72 points to 314,938.63 and the JSE Financial Index lost 0.01 points to settle at 69.08.
The Main Market ended trading with an average PE Ratio of 12.3. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies who’s financial year ends around August 2024.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Eppley fell 74 cents to $33.25 after an exchange of 122 shares, Eppley Caribbean Property Fund rallied $2 to close at $38.50 in trading 1,557 stocks, General Accident increased 59 cents to end at $5.15 with stakeholders exchanging 2,000 shares. GraceKennedy dipped 40 cents in closing at $72, with 211,034 stock units crossing the market, Jamaica Broilers climbed $1.49 and ended at $34.79 with investors dealing in 367 shares, Kingston Wharves lost $2.78 to close at $26.01, with 1,000 stock units crossing the exchange. 
NCB Financial skidded $1.10 and ended at $72.39 with shareholders swapping 178,366 units, Pan Jamaica rose $1 to $47 with 643 stocks clearing the market, Proven Investments shed 98 cents in closing at $22.75 with an exchange of 551 units. Salada Foods declined 44 cents to end at $2.60, with 12,850 shares changing hands, Supreme Ventures rallied 50 cents to $26.50 with a transfer of 67,347 stocks, Sygnus Credit Investments popped 35 cents and ended at $11.80 after 16,050 stock units passed through the market and Wisynco Group dropped 50 cents to end at $19 in switching ownership of 1,180,403 shares.
In the preference segment, Jamaica Public Service 7% shed 99 cents in closing at $41.01 with investors transferring 673 units and Productive Business Solutions 10.5% preference share advanced $50 to close at $1,150 in an exchange of 300 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Transjamaican trade swells Main Market trading
Trading jumped on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded rising 1,581 percent and the value 180 percent more than on Monday, as 100 million Transjamaican Highway preference shares were traded, with activity in 57 securities compared with 55 on Monday, and ended with 21 rising, 18 declining and 18 ending unchanged.
At the close, 106,705,122 shares were traded for $248,485,563 compared to 6,345,906 stock units at $88,810,985 on Monday.
Trading averaged 1,872,020 shares at $4,359,396 up sharply from 115,380 shares at $1,614,745 on Monday and month to date, an average of 330,381 units at $1,935,104 versus 154,985 units at $1,659,286, previously. Trading in October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway preference share led trading with 100 million shares valued at $200 million, for 93.7 percent of total volume followed by Transjamaican Highway ordinary share ended with 1.49 million units for 1.4 percent of the day’s trade, Wigton Windfarm followed with 1.13 million units for 1.1 percent market share, Palace Amusement closed with 1.08 million units for 1 percent market share and 
Sagicor Select Financial Fund closed with 1.07 million units for 1 percent of total volume.
The All Jamaican Composite Index slipped 728.78 points to conclude trading at 349,629.13, the JSE Main Index shed 851.71 points to 314,880.91 and the JSE Financial Index eased by 0.10 points to conclude trading at 69.09.
The Main Market ended trading with an average PE Ratio of 12.8. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Caribbean Cement advanced 93 cents to $50.94 after an exchange of 11,092 shares, Eppley Caribbean Property Fund popped 50 cents to end at $36.50 with investors swapping 4,293 stocks, 
General Accident lost 44 cents to close at $4.56 in trading a mere 200 shares. Guardian Holdings climbed 47 cents to $412.50 with investors trading 44 stock units, Jamaica Producers increased $1.15 to end at $22.15 as 256,471 shares passed through the market, Jamaica Stock Exchange rose 65 cents to $9.10 with investors dealing in 1,545 stocks. Kingston Wharves rallied $2.29 to end at $28.79 in an exchange of 3,294 units, Pan Jamaica dropped $1 in closing at $46 with traders dealing in 7,497 stocks, Supreme Ventures gained 45 cents and ended at $26 after an exchange of 18,990 units. Sygnus Credit Investments shed 45 cents to close at $11.45 after 7,403 stocks changed hands, Victoria Mutual Investments declined 37 cents to $2.62 while exchanging 101,363 shares and Wisynco Group fell 98 cents in closing at $19.50 in switching ownership of 119,452 stock units.
In the preference segment, Eppley 7.50% preference share rose 49 cents and ended at $5.99 as investors exchanged 628 shares and JMMB Group 7% preference share climbed 40 cents to close at $2.40 after a transfer of 521 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
NCB stock price surges to 3 months high
Stocks mostly declined at the end of trading on the Jamaica Stock Exchange Main Market on Monday, notwithstanding, a $6.50 surge in NCB Financial contributed significantly to lifting the market index to close trading on Monday as the stock closed trading at the highest price since late August, but still below the near $85 a year ago.
The market closed with the volume of stocks traded declining 44 percent and the value 22 percent less than Friday, with trading of 55 securities compared with 57 on Friday, and ended with prices of 12 rising, 30 declining and 13 ending unchanged, but Berger Paints closed at 52 weeks’ lows, but AS Bryden traded at a 52 weeks’ intraday high of $33.64 and an intraday low of $28.99, while Key Insurance traded at an intraday low of $2.10.
A total of 6,345,906 shares were traded for $88,810,985 compared with 11,402,012 units at $114,300,385 on Friday.
Trading averaged 115,380 shares at $1,614,745 compared with 200,035 shares at $2,005,270 on Friday and month to date, an average of 154,985 units at $1,659,286, compared to 159,869 units at $1,664,779 on the previous day. October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway led trading with 951,988 shares for 15 percent of total volume followed by Wigton Windfarm with 801,888 units for 12.6 percent of the day’s trade and Jamaica Broilers with 791,159 units for 12.5 percent market share.
The All Jamaican Composite Index rose 2,334.48 points to end at 350,357.91, the JSE Main Index climbed 733.38 points to 315,732.62 and the JSE Financial Index popped 0.45 points to settle at 69.19.
The Main Market ended trading with an average PE Ratio of 11.9. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
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, Barita Investments lost 55 cents in closing at $70.50 in switching ownership of 40,600 stock units, Berger Paints fell $1.60 to close at a 52 weeks’ low of $5.80 after a transfer of 121 shares, Caribbean Cement dipped 93 cents to close at $50.01 with shareholders swapping 9,077 units. Eppley Caribbean Property Fund gained $2.50 to end at $36, with 15,761 stocks crossing the market, Guardian Holdings dropped $27.96 and ended at $412.03 in an exchange of 23 shares, Jamaica Broilers shed $1.47 to end at $33.50 after 791,159 stock units passed through the market.
NCB Financial jumped $6.51 in closing at $73.50 after the trading of 223,653 stock units, Proven Investments climbed 69 cents and ended at $23.72 with investors transferring 2,148 units, Sagicor Group dropped 95 cents to end at $42, with 33,342 shares changing hands. Scotia Group skidded 50 cents to close at $34 after an exchange of 463,033 units, Seprod fell $1.95 to $75.05, with 2,878 stocks crossing the exchange, Stanley Motta lost 35 cents to end at $5.45 with investors dealing in 2,119 stock units. Sygnus Real Estate Finance dropped $1.64 in closing at $9.36, with an exchange of 153 shares and Wisynco Group popped 48 cents to close at $20.48 with 32,732 units changing hands.
In the preference segment, Eppley 7.50% preference share shed 43 cents and ended at $5.50, with 1,410 stocks crossing the market. Jamaica Public Service 7% declined $8 to $42 with traders dealing in 1,260 stock units and JMMB Group 7% preference share dipped 45 cents and ended at $2 as investors exchanged 685 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New additions to ICTOP10
A series of third quarter company results were released during the past week, and most reported good numbers that augur well for the stock prices in the months ahead. Some of the results are companies in the ICTOP10. During the week the JSE Main Market rose but the Junior Market lost ground moderately for a second week.
Price movements in the market resulted in two new ICTOP10 listings for the Junior Market and one for the Main Market. In the Junior Market, Dolphin Cove rose 6 percent to $16.50 and AMG Packaging rose 4 percent to $2.44 after trading at a 52 weeks’ low of $1.95 during the week. Paramount Trading dropped 12 percent to $1.48, followed by Everything Fresh shedding 11 percent to $1.56, Iron Rock Insurance fell 9 percent to $2 and Caribbean Assurance Brokers declined 8 percent to end at $2.85.
The Main Market closed the week with Sygnus Credit Investments climbing 7 percent to $11.90, Margaritaville and Jamaica Broilers rising 6 percent to $17.58 and $34.97 respectively. General Insurance dropped 9 percent to end at $5.04.
Lasco Financial and Lasco Distributors released half year results but dropped out of the Junior Market ICTOP10 and Lasco Manufacturing also reported six months results but remained in the ICTOP 10. Following the release of the results, Lasco Distributors earnings were reduced from $1.65 to $1.60 for the full year and sits at number 12 in ICInsider.com rankings. 
Importantly selling in the stock has been drastically reduced with just 19 offers up to $15.90 amounting to less than 200,000 shares and 19 bids above $4, with the highest bid amounting to more than the total stocks being offered. Earnings per share for Lasco Financial were reduced to 15 cents for the year and holds the 31st spot on the list.
Jamaica Teas also released results for the year to September, showing an improvement over 2022 and disclosed expected improvements from major changes already undertaken, which should improve 2024 results added to that, stocks should do better in the coming year, resulting in exposure of projections for 2024 as such it along with Caribbean Cream are now in the ICTOP10.
Returning to the Main Market TOP 10 is Palace Amusement Company replacing Caribbean Cement.
The average PE for the JSE Main Market ICTOP 10 stands at 5, well below the market average of 12.2. The Main Market ICTOP10 is projected to gain an average of 319 percent by May 2024, based on 2023 forecasted earnings.
An indication of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
In the Main Market ICTOP 10, a total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 20 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
The PE of the Junior Market TOP10 sits at 5.7, just over half of the market, with an average of 11.9. There are 11 stocks, or 23 percent of the market, with PEs from 15 to 48, averaging 21 that are well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 260 percent on or around May 2024.
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 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
AS Bryden jumps 29% on the JSE debut
The Trinidad and Tobago based AS Bryden commenced trading on the Main Market of the Jamaica Stock Exchange on Friday and was welcomed by investors who pushed the stock price up $6.50, up 29 percent on the listing price of $22.50, in swapping 53,309 shares with a value of J$1,575,191 as the price closed at $29 on a day when the All Jamaican Composite Index lost 1,118.17 points to close at 348,023.43, the JSE Main Index climbed 1,433.99 points to 314,999.24 and the JSE Financial Index dipped 0.10 points to end at 68.74.
The day closed with rising stocks beating out those declining, with trading in 57 securities, a similar number compared with Thursday and resulted in prices of 23 rising, 19 declining and 15 ending unchanged as the volume of stocks traded rose 52 percent but with a marginally higher value.
Investors traded 11,402,012 shares at $114,300,385 compared to 7,516,087 units at $111,267,823 on Thursday.
Trading averaged 200,035 shares at $2,005,270 compared with 131,861 stocks at $1,952,067 on Thursday. Trading for the month to date, averaged 159,869 units valued at $1,664,779 compared to 153,983 units at $1,614,887, on the previous day. Trading in October closed with an average of 214,410 units at $1,325,907.
Wigton Windfarm led trading with 4.489 million shares for 39.4 percent of total volume, followed by Kingston Wharves with 3 million units for 26.6 percent of the day’s trade and Transjamaican with 986,893 million units for 8.7 percent of the day’s trade.
At the close of trading, the JSE Combined Market Index popped 1,420.45 points to close at 328.954.78,
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments rose $1 to $71.05 after an exchange of 32,450 stocks, Eppley gained 67 cents to close at $34 after investors traded 33 shares, Eppley Caribbean Property Fund dropped $2.50 to end at $33.50 after trading 210 stock units. General Accident fell 52 cents to close trading of 3,360 shares at $5.04, GraceKennedy added 99 cents to close at $72.49 as investors exchanged 84,190 shares, Guardian Holdings rose $1.99 to $439.99 after a transfer of 300 shares. Jamaica Broilers had an exchange of 24,321 shares at $34.97, after gaining 97 cents, Jamaica Stock Exchange lost 55 cents in closing at $8.45 after investors exchanged 27,320 shares, JMMB Group rose $0.36 to $27.40 with an exchange of 22,320 shares. 
Kingston Wharves lost $1.21 to finish at $17.58, with 3,029,633 stock units crossing the market, MPC Caribbean Clean Energy jumped $12.13 to $93 after an exchange of 102 shares, Margaritaville popped $1.57 in closing at $17.58 after 284 stocks passed through the market. NCB Financial popped $1.99 and ended at $66.99 in switching ownership of 35,941 units, Pan Jamaica shed $2.50 to close at $47 with shareholders swapping 1,057 stocks, Seprod slipped $1 to $77 in an exchange of 12,345 shares. Sygnus Credit Investments gained 60 cents in closing at $11.90 after investors traded 3000 shares, Sygnus Real Estate Fund dropped $0.87 in closing at $11.00 with just 24 shares changing hands and Wisynco Group ended with investors trading 55,638 shares and lost 55 cents in closing at $20.
In the preference segment, Jamaica Public Service 7% climbed $8 to close at $50, with investors dealing in 1,495 stock units and Productive Business Solutions 9.75% preference share popped $10.20 to end at $112.20, with 231 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jump in dollars entering the JSE Main Market
Declining stocks overpowered rising ones in trading on the Jamaica Stock Exchange Main Market on Thursday, with trading in 57 securities compared with 58 on Wednesday and resulting in prices of 19 rising, 26 declining and 12 ending unchanged as the volume of stocks traded declined 39 percent but with the value jumping 108 percent more than on Wednesday,
A total of 7,516,087 shares were traded for $111,267,823 versus 12,287,636 units at $53,452,673 on Wednesday.
Trading averaged 131,861 shares at $1,952,067 versus 211,856 shares at $921,598 on Wednesday and month to date, an average of 153,983 units at $1,614,887, compared with 157,781 units at $1,556,998 on the previous day. October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway led trading with 1.60 million shares for 21.2 percent of total volume, followed by Sagicor Select Financial Fund with 1.47 million units for 19.5 percent of the day’s trade and Carreras with 1.42 million units for 18.9 percent of the day’s trade.
The All Jamaican Composite Index lost 930.59 points to settle at 349,141.60, the JSE Main Index skidded 521.94 points to close at 313,565.25 and the JSE Financial Index dipped 0.43 points to end at 68.84.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments fell 95 cents and ended at $70.05 after an exchange of 7,809 stocks, Caribbean Cement gained $1.34 to close at $50.93 after trading ended with an exchange of 13,244 units, Eppley declined 62 cents to close at $33.33 after 196 shares were traded. Eppley Caribbean Property Fund dropped $4.05 to end at $36 after trading 31,239 stock units, Guardian Holdings rose $18 in closing at $438 after a transfer of 130 shares, Kingston Wharves lost $1.27 to finish the day at $27.71, with 13,232 stock units crossing the market.
Mayberry Investments advanced 80 cents to end at $7.90 with an exchange of 52,843 units, MPC Caribbean Clean Energy popped $7.36 in closing at $80.87 after 24 stocks passed through the market, NCB Financial dipped $1.99 and ended at $65 in switching ownership of 16,490 units. Pan Jamaica skidded 95 cents to close at $49.50 with shareholders swapping 72,815 stocks and Seprod rallied $3 to $78 in an exchange of 928,228 shares.
In the preference segment, Jamaica Public Service 7% increased 35 cents to close at $42, with investors dealing in 1,031 stock units. Jamaica Public Service 9.5% climbed $100 and ended at $2900 with three shares crossing the exchange, 
JMMB Group 7% preference share increased 45 cents to $2.45 with investors transferring 59 stock units and Productive Business Solutions 9.75% preference share popped $1 to end at $102, with three stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market trading drops back on Wednesday
Trading activity dropped back sharply on Wednesday from Tuesday’s levels on the Jamaica Stock Exchange Main Market, with a 28 percent fall in the volume of stocks traded at a 74 percent lower value than on Tuesday, as the market returned to more sedate levels that characterises trading in recent days, following trading in 58 securities down from 53 on Tuesday, with 21 rising, 23 declining and 14 ending unchanged.
A total of 12,287,636 shares were traded for $53,452,673 down from 17,113,084 units at $207,420,352 on Tuesday.
Trading averaged 211,856 shares at $921,598 compared to 322,888 shares at $3,913,592 on Tuesday and month to date, an average of 157,781 units at $1,556,998, compared with 146,335 units at $1,691,498 on the previous day. October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway led trading with 6.98 million shares for 56.8 percent of total volume followed by Carreras with 1.78 million units for 14.4 percent of the day’s trade and Wigton Windfarm with 1.52 million units for 12.4 percent of the day’s trade.
The All Jamaican Composite Index popped 4,070.89 points to settle at 350,072.19, the JSE Main Index rallied 2,220.52 points to settle at 314,087.19 and the JSE Financial Index popped 1.00 points to finish at 69.27.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments rose 95 cents and ended at $71 with stakeholders exchanging 333 stock units, Caribbean Cement lost $1.41 to close at $49.59 in trading 834 shares, Eppley rallied 75 cents to $33.95 after a transfer of 270 stocks. First Rock Real Estate popped $1.30 to end at $8.80 as investors exchanged 2,371 units, GraceKennedy shed $1 in closing at $71.50 with a transfer of 20,186 shares, Guardian Holdings declined $20 to $420 while exchanging 236 units. Jamaica Broilers fell 95 cents to close at $34, with 12,228 stocks crossing the market, Jamaica Producers climbed $1 and ended at $21 in an exchange of 22,386 stock units, Margaritaville dropped $1.19 to end at $16.01 with shareholders swapping 1,000 shares. 
Mayberry Investments dipped 90 cents in closing at $7.10 after investors traded 4,434 stock units, MPC Caribbean Clean Energy skidded $1.66 to $73.51 with an exchange of 33 units, NCB Financial increased $1.99 in closing at $66.99, with 47,222 stocks clearing the market. Pan Jamaica advanced $2.95 to close at $50.45 with investors transferring 11,414 units, Proven Investments lost 73 cents and ended at $23 after 1,859 stocks passed through the market, Sagicor Group gained $1 to end at $43 with traders dealing in 7,726 shares. Seprod fell $4.99 to $75 after an exchange of 18,465 stock units and Stanley Motta popped 58 cents to end at $5.78 after trading 5,481 shares.
In the preference segment, Jamaica Public Service 7% shed $7.35 in closing at $41.65 after exchanging 47 stocks and Jamaica Public Service 9.5% dropped $100 and ended at $2800 with investors dealing in 1 unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Seprod dominates Main Market trading
Seprod jumped $6.97 to $79.99 while trading 1.46 million units and accounted for more than a half of the total value of stocks traded on the Jamaica Stock Exchange Main Market on Tuesday, on a day when the volume of stocks traded jumped 243 percent and the value, 508 percent more than in trading on Monday and ended, with 53 securities changing hands, down from 59 on Monday, with prices of 20 risings, 19 declining and 14 ending unchanged.
At the close, 17,113,084 shares were traded with a value of $207,420,352, pushed by Seprod accounting for $113.5 million of the value traded. Monday trading ended with 4,982,626 units at $34,117,477.
Trading averaged 322,888 shares at $3,913,592, sharply higher than the 84,451 shares, with an average of $578,262 on Monday. Trading for the month to date ended with an average of 146,335 units at $1,691,498, up from 103,994 units at $1,158,598 on the previous day. October closed with an average of 214,410 units at $1,325,907.
Wigton Windfarm led trading with 5.27 million shares for 30.8 percent of total volume, followed by Carreras with 4.06 million units for 23.7 percent of the day’s trade, First Rock Real Estate with 2.01 million units for 11.7 percent market share, Seprod with 1.46 million units for 8.5 percent market share and Transjamaican Highway with 1.42 million units for 8.3 percent of total volume.
The All Jamaican Composite Index popped 342.51 points to close at 346,001.30, the JSE Main Index climbed 1,171.68 points to finish at 311,866.67 and the JSE Financial Index rose 0.31 points to end at 68.27.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts done by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and eight with lower offers.
At the close, Barita Investments skidded 85 cents to $70.05 and closed with an exchange of 1,765 shares, Berger Paints rallied 40 cents in closing at $7.40 with stakeholders exchanging 2,178 units, First Rock Real Estate fell 50 cents to close at $7.50 in switching ownership of 2,009,206 shares. GraceKennedy rose 99 cents and ended at $72.50, with 51,377 stock units clearing the market after the price hit a 52 weeks’ low of $60 before the price rebounded to close out the day positively, Guardian Holdings advanced $15 to end at $440 after an exchange of just two shares, 
Jamaica Broilers popped 95 cents to $34.95 after 152,408 stock units were traded. Jamaica Producers gained 85 cents to close at $20 with a transfer of 218,591 stocks, Jamaica Stock Exchange climbed 49 cents to $9.19 after 35,951 units passed through the market, Massy Holdings rose $1 in closing at $91 in trading 10,596 shares. Mayberry Investments popped $1 and ended at $8 after exchanging 75,606 stock units, NCB Financial increased $2.50 to $65 with investors transferring 240,233 stocks, Sagicor Group declined $1.48 in closing at $42 in an exchange of 40,903 units. Seprod climbed $6.97 and ended at $79.99, with 1,459,106 stocks changing hands, Stanley Motta shed 80 cents to end at $5.20 as investors exchanged 2,092 units and Wisynco Group rose 70 cents to close at $21 trading 52,967 shares.
In the preference segment, Jamaica Public Service 7% gained 54 cents to $49 with just one stock unit crossing the exchange and Productive Business Solutions 9.75% preference share lost $19.99 to end at $101 with traders dealing in 6 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading up prices down on JSE Main Market
Trading activity picked up on the Jamaica Stock Exchange Main Market on Monday, but the market declined, with the volume of stocks traded rising 22 percent, and the value 13 percent more than on Friday, with trading ended with an exchange of 59 securities compared to 57 on Friday, with 22 rising, 24 declining and 13 ending unchanged.
A total of 4,982,626 shares were exchanged at $34,117,477 compared to 4,087,425 units for $30,292,867 on Friday.
Trading averaged 84,451 shares on Monday at $578,262 compared with 71,709 shares at $531,454 on Friday and month to date, an average of 103,994 units at $1,158,598, down from 111,111 units at $1,369,955 on the previous trading day. October closed with an average of 214,410 units at $1,325,907.
Transjamaican Highway led trading with 1.96 million shares for 39.3 percent of total volume, followed by Sagicor Select Financial Fund with 830,120 units for 16.7 percent of the day’s trade and Wigton Windfarm with 537,437 units for 10.8 percent market share.
The All Jamaican Composite Index shed 2,074.28 points to conclude trading at 345,658.79, the JSE Main Index skidded 2,171.72 points to 310,694.99 and the JSE Financial Index dipped 0.47 points to 67.96.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending in August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close of the market, Berger Paints increased 80 cents to end at $7 743 stocks crossing the exchange, Eppley dropped 75 cents in closing at $33.20 with investors dealing in 353 units, GraceKennedy lost $1.81 to close at $71.51, with 21,747 shares crossing the market. Guardian Holdings skidded $14.49 and ended at $425 with shareholders swapping 131 stock units, Jamaica Broilers popped $1 to close at $34 in an exchange of 334,284 shares, Margaritaville gained 60 cents to $17.20 after investors trading 521 units. Massy Holdings fell $7 to end at $90 with a transfer of 1,163 stocks,
MPC Caribbean Clean Energy dipped $5.70 in closing at $75.17 with an exchange of 103 stock units, NCB Financial rose $1.99 and ended at $62.50 after 84,449 shares passed through the market. Sagicor Group advanced $1.48 to close at $43.48 in an exchange of 2,598 stocks, Scotia Group climbed 50 cents to $34.50 after investors cleared the market of 29,605 units, Seprod declined $6.78 to close at $73.02 after exchanging 19,768 stock units and Sygnus Real Estate Finance rallied $2.32 and ended at $11.87 after completing with 900 shares changing hands.
In the preference segment, Eppley 7.50% preference share rose 85 cents in closing at $5.92 with an exchange of 123 stocks and Productive Business Solutions 9.75% preference share shed $1.01 to end at $120.99, as 18 units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main & Junior Markets ICTOP10 changes
During the past week, the JSE Main Market Index and the Junior Market lost ground at the close of the week but that did not prevent some ICTOP10 stocks from posting gains even as others fell to close out the past week, with three Junior Market stocks rising and four declined while four Main Market stocks gained and three declined.
Price movements in the market resulted in one new TOP10 listing for the Junior Market and one for the Main Market. Everything Fresh rose 9 percent to $1.75, followed by Caribbean Assurance Brokers, gaining 7 percent to end at $3.10, while the losers include Elite Diagnostic and One on One, down 5 percent to $1.79 and $1.01 respectively, followed by a 4 percent decline in Dolphin Cove to $15.50.
The Main Market closed the week with Margaritaville jumping 18 percent to $16.60. Key Insurance dropped 10 percent to $2.25 and 138 Student Living dropping 6 percent to $4.06.
One on One Education dropped out of the Junior Market TOP10, having reported a loss for the year to August, from flat revenues year over year and is replaced by Lasco Manufacturing, returning after a one week absence, with potential to end up with solid gains in the months ahead.
Returning to the Main Market TOP 10 is Caribbean Cement replacing Guardian Holdings, with the nine months’ results indicating lower earnings this year based on the new accounting policy.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 12.2. The Main Market ICTOP10 is projected to gain an average of 320 percent by May 2024, based on 2023 forecasted earnings.
An indication of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
In the Main Market ICTOP 10, a total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
The PE of the Junior Market TOP10 sits at 6.1, just over half of the market, with an average of 11.7. There are 12 stocks, or 25 percent of the market, with PEs from 15 to 50, averaging 21 that are well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 234 percent on or around May 2024.
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 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.