Stocks ended a mixed week with the Main Market adding a few hundred points or less than 0.2 percent and the Junior Market declining 1.6 percent for the week following a fall of half of one percent in the previous week, resulting in mostly price gains in the Main Market and the Junior Market with losers edging out winners as the ICTOP10 gets 3 new listings.

Only three stocks rose and six declined in the Junior Market ICTOP10 during the week. The Main Market ICTOP10 ended with six stocks gaining and just two declining. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had one change, with Jamaica Broilers replacing Caribbean Cream. Guardian Holdings with the potential to gain 436 percent continues to hold the number one spot in the market with 138 Student Living at number 2 in the All JSE ICTOP10. Elite Diagnostics holds the number one spot in the Junior Market TOP10 followed by Express Catering.
In the Junior Market IC TOP10, Caribbean Flavours jumped 17 percent to $1.41 Access Financial and Jamaican Teas rose 4 percent to $17.70 and $2.15 respectively. Caribbean Cream fell 14 percent to $2.77, Elite Diagnostics slipped 5 percent to $1.79, while AMG Packaging and Express Catering shed 4 percent to $3.28 and $3.11 respectively.
The Main Market ICTOP10 Berger Paints added 13 percent to close at $8.34, Caribbean Producers and Scotia Group rose 6 percent to close at $9 and $55, Key Insurance and QWI Investments propped 5 percent to $2.30 and 90 cents respectively.
Jamaica Broilers dropped 9 percent in the week and returned to the Main Market ICTOP10, replacing JMMB Group and the Junior Market ICTOP10 listings, Caribbean Cream and Image Plus released lower results than expected for the November quarter, resulting in earnings downgrades for both, with them dropping out of the TOP10 and were replaced by Limners & Bards and Lumber Depot.
The average PE for the JSE Main Market ICTOP 10 sits at just 5.6, well below the market average of 14.4 and the Junior Market TOP10 stands at 9.1, more than half of the market, with an average of 13.3.
Based on the earnings projected estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 273 percent by May 2025, providing better values than the Junior Market, projected to achieve a 151 percent increase for the same time.
In the Main Market ICTOP 10, there are 14 stocks with the highest values representing 27 percent of the Main Market, with PEs between 15 to 105, with an average of 29 and 21 excluding the highest PE ratios and a PE of 24 for the top half of the market with the highest values and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 14 stocks, 29 percent of the market, with PEs ranging from 15 to 31 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
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 their 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.