Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks exchanged declining, with 58 percent more value than on Monday, resulting in trading of 14 securities, up from just six on Monday with prices of three rising, five declining and six ending unchanged.
a total of 157,281 shares were traded, for US$16,865 compared to 165,305 units at US$10,692 on Monday.
Trading averaged 11,234 units at US$1,205 versus 27,551 shares at US$1,782 on Monday, with a month to date average of 16,129 shares at US$1,378. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index rose 4.63 points to end at 217.29.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Real Estate USD share fell 0.02 of a cent in closing at 6.76 US cents after trading market 1,470 shares, Margaritaville dropped 0.01 of a cent in ending at 14.98 US cents after a transfer of 1,045 units, MPC Caribbean Clean Energy remained at US$1, with four stocks crossing the exchange. Productive Business Solutions ended at US$1.39 with a transfer of 4 stock units, Proven Investments ended at 20 US cents in switching ownership of 5,328 stocks, Sterling Investments advanced 0.14 of one cent to 2.25 US cents while exchanging 22,948 stock units. 
Sygnus Credit Investments J$ share popped 0.63 of a cent in closing at 15.63 US cents and exchanging 8 shares, Sygnus Credit Investments USD share declined 0.77 of one cent to 9 US cents in exchanging 10,800 units, Sygnus Real Estate Finance USD share lost 2.93 cents to end at 10 US cents as investors exchanged 4,600 stocks. Transjamaican Highway remained at 1 US cent in trading 107,110 stock units.
In the preference segment, Productive Business 9.25% preference share ended at US$10.50, with 650 shares crossing the market, Equityline Mortgage Investment preference share remained at US$1.85 with an exchange of 3 units, JMMB Group 5.75% shed 1 cent in ending at US$1.75, with 3,123 stock units changing hands and JMMB Group 6% rallied 9.8 cents in closing at US$1.078 with investors transferring 188 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading expansion for JSE USD stocks
JSE Main Market drops
Market activity on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 34 percent, with a 73 percent lower value than on Monday, with the number of securities trading remaining at 59 as was the case on Monday, with price of 25 rising, 22 declining and 12 ending unchanged.
A total of 7,679,692 shares were exchanged for $60,706,599 down from 11,569,694 units at $225,929,693 on Monday.
Tuesday’s trading averaged 130,164 units at $1,028,925, compared to 196,097 shares at $3,829,317 on Monday and month to date, an average of 163,130 units at $2,429,121. September closed with an average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 1.98 million shares for 25.7 percent of total volume followed by Transjamaican Highway with 1.51 million units for 19.7 percent of the day’s trade and Radio Jamaica with 1.50 million units for 19.5 percent market share.
The All Jamaican Composite Index dropped 4,027.86 points to 410,104.57, the JSE Main Index declined 1,429.05 points to 359,272.56 and the JSE Financial Index fell 1.37 points to settle at 86.45.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments shed $7.92 in ending at $98.48, with 22,207 shares crossing the market, Berger Paints fell 49 cents in closing at $10.56 with investors transferring 352 stocks, 
Caribbean Cement dipped $3.28 to end at $58.22 in trading 42,616 units. First Rock Real Estate rallied $1.05 to $13 after trading 7,164 stock units, GraceKennedy rose 50 cents to close at $89 in switching ownership of 118,717 stock units, Guardian Holdings fell $10 to $500 after an exchange of 10 units. Jamaica Broilers dropped 50 cents in closing at $29.50 after trading 7,789 shares, Jamaica Producers declined $1.89 to close at $19 in an exchange of 26,522 stocks, Jamaica Stock Exchange fell $1.25 to $15.23, with 14,049 shares changing hands. JMMB Group lost $2.05 in ending at $38.45 as investors exchanged 241,616 stocks, Kingston Properties gained 59 cents to end at $7.40 while exchanging 15,371 units, Kingston Wharves popped $3.85 to $39, with 8,777 stock units crossing the market. Massy Holdings advanced $6.45 to end at $86.45 with the swapping of 1,237 stocks, 138 Student Living declined 46 cents in closing at $5.40 after exchanging 15,578 stock units, Palace Amusement climbed $50 to close at $800 with an exchange of one unit. PanJam Investment dropped 90 cents to end at $59, with 26,233 shares changing hands, Portland JSX shed $1.45 to close at $9.05 after trading 8 shares, Proven Investments increased $1.17 to $31.19 with a transfer of 968 stock units. Sagicor Group dipped $2.27 in closing at $51.21 after 2,613 units crossed the exchange, Scotia Group increased $1.65 to $36.35 while exchanging 106,603 stocks, Seprod dropped $1.49 to $66.01 with 7,675 stock units clearing the market. Sygnus Real Estate Finance gained 70 cents in closing at $10 while exchanging 1,694 stocks, Wisynco Group advanced 85 cents to $18.35 with the swapping of 222,018 units.
In the preference segment, Eppley 5% preference share lost $3.15 to end at a 52 weeks’ high of $17.85 in switching ownership of 211 stock units, Eppley 7.50% preference share rose 70 cents ending at $7.74 while exchanging 310 units, Jamaica Public Service 9.5% popped $100 in closing at $3000 as investors exchanged one share, Productive Business Solutions 9.75% preference share declined $3.63 to close at $136.37 with an exchange of two stocks and Transjamaican Highway 8% climbed 70 cents to close at $2.40 with investors transferring 74 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading jumps
Trading jumped sharply on the Junior Market of the Jamaica Stock Exchange on Tuesday, with the volume of stocks traded rising 147 percent, with 159 percent more value than on Monday after 43 securities traded, down from 47 on Monday and ended with 17 rising, 16 declining and 10 closing unchanged.
A total of 24,655,438 shares were exchanged for $89,978,978 compared to 9,973,506 units at $34,778,543 on Monday. Trading averaged 573,382 shares at $2,092,534 compared to 212,202 shares at $739,969 on Monday, with the month to date averaging 384,766 units at $1,386,195. September closed with an average of 470,099 units at $1,578,447.
Fosrich led trading with 16.04 million shares for 65.1 percent of total volume, followed by ONE on ONE Educational with 3.02 million units for 12.2 percent of the day’s trade, EduFocal ended with 1.84 million units for 7.5 percent market share and Dolla Financial, 1.56 million units for 6.3 percent if stocks traded.
At the close, the Junior Market Index dropped 59.11 points to settle at 4,148.29. The PE Ratio, a measure of computing appropriate stock values, averages 12.9. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cream climbed 19 cents to end at $4.20 after a transfer of 19,000 shares, Consolidated Bakeries fell 14 cents in closing at $2.96 after switching ownership of 53,096 stock units, Dolla Financial gained 11 cents to end at $3.20, with 1,557,227 stocks crossing the market. EduFocal increased 23 cents to $2.85 in an exchange of 1,836,984 units, Elite Diagnostic rose 16 cents to $3.54 with investors transferring 85,371 units, Fontana dropped 15 cents to close at $9.30 with the swapping of 49,776 shares. Fosrich rallied 11 cents to $4.40, with 16,039,262 stocks crossing the market, Honey Bun lost 10 cents in closing at $7.90 in exchanging 11,076 stock units, iCreate dipped 12 cents to $2.33 and closed with 244,961 stock units changing hands. ISP Finance declined $1.10 to end at $20 with a transfer of 218 units, KLE Group advanced 11 cents to close at $1.99 with 38 stocks clearing the market, Lasco Manufacturing shed 41 cents to close at a 52 weeks‘ low of $3.99 in trading 8,047 shares. Main Event popped 50 cents in closing at $9 in exchanging 6,781 stocks, Medical Disposables dropped 40 cents to end at $5.20, with 21,749 units crossing the exchange, MFS Capital Partners increased 77 cents to $2.95 while exchanging 144,456 stock units. Paramount Trading popped 19 cents in ending at $1.95 after trading 4,051 shares, Spur Tree Spices shed 18 cents to $3.42, with 299,892 shares changing hands, 
Stationery and Office Supplies advanced $1.92 in closing at $17.95 after exchanging 10,067 units. Tropical Battery rallied 11 cents to close at $2.59 after trading 187,263 stock units and tTech climbed 17 cents to end at $2.97 with an exchange of 17,745 stocks.
In the preference segment, CAC 2000 9.5% preference share gained 17 cents in ending at $1.18 as investors exchanged 101 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dropped drops again
Stocks retreated by the close of trading on the Jamaica Stock Exchange on Tuesday in the Main and Junior Markets but rose in the JSE USD market, after traded volume of socks roses with a lower value than Tuesday, leaving the JSE Combined Index, a measure of the overall market, falling 1,871.06 points to 373,225.06.
The All Jamaican Composite Index popped 4,027.86 points to 410,104.57, the JSE Main Index fell 1,429.05 points to 359,272.56, the Junior Market Index shed 59.11 points to 4,148.29 and the JSE USD market Index added 4.63 points to close 217.29.
Trading ended, with 32,492,408 shares changing hands, valued at $150.7 million shares from $280.7 million, with 21,708,505 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded at US$16,860 from US$10,692 on Monday
The market’s PE ratio ended at 24.1 based on 2021-22 earnings and 12.9 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Negative October start for JSE Main market
After a run of rising market over the past seven the Jamaica Stock Exchange Main Market was tamed on Monday, with the start of a new month as the volume of stocks traded declined 95 percent with a 91 percent lower value than on Friday, after 59 securities were trading compared to 60 on Friday, with 22 rising, 30 declining and seven ending unchanged.
A total of 11,569,694 shares were traded for $225,929,693 down from 212,535,654 units at $2,391,952,140 on Friday.
Trading averaged 196,097 units at $3,829,317 versus 3,542,261 shares at $39,865,869 on Friday. Trading in September ended with an average of 533,719 units at $5,494,282.
Transjamaican Highway led trading with 3.75 million shares for 32.4 percent of the volume Massy Holdings followed with 1.46 million units for 12.6 percent of the day’s trade, Scotia Group ended with 1.31 million units for 11.3 percent market share and Sagicor Select Financial Fund with 1.24 million units for 10.7 percent of stocks trading.
The All Jamaican Composite Index rose 189.12 points to 414,132.43, the JSE Main Index shed 989.99 points to 360,701.61 and the JSE Financial Index increased 0.12 points to settle at 87.82.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments declined $8.64 to close at $106.40 in switching ownership of 70,616 stock units, Berger Paints advanced $1.05 to close at $11.05 in an exchange of 4,248 stocks. Caribbean Producers increased 85 cents to end at $13.99 after finishing trading 277,773 units, Eppley dipped $2.50 in closing at $38.50 as investors exchanged 238 stock units, Eppley Caribbean Property Fund dropped $4.49 to end at $45.50 after a transfer of 4,003 stocks. First Rock Real Estate fell $1.80 in closing at $11.95 with an exchange of 5,613 units, GraceKennedy shed $1 to end at $88.50 trading 22,068 shares, Jamaica Broilers rose 50 cents to $30 in exchanging 101,621 stocks. Jamaica Stock Exchange shed $1.12 to close at $16.48, with 12,756 shares crossing the exchange, JMMB Group rallied $1 ending to $40.50 after 93,852 stock units passed through the market, Kingston Properties lost $1.19 to close at $6.81 after 13,179 units changed hands. Kingston Wharves dipped $2.85 in closing at $35.15 after exchanging 80,711 stocks, Margaritaville dropped $2.60 to end at $19.40 while investors swapped four shares, Massy Holdings declined $2 to close at $80, with 1,456,860 stock units clearing the market. 138 Student Living popped 61 cents ending at $5.86 with an exchange of 204 units, PanJam Investment climbed 90 cents to $59.90 with investors transferring 1,837 units, Scotia Group fell $1.20 in closing at $34.70 in trading 1,305,258 shares. Seprod gained 50 cents to end at $67.50, with 388 stock units changing hands, Sygnus Credit Investments shed 43 cents to close at $13 after exchanging 16,407 stocks, Sygnus Real Estate Finance fell $1 to $9.30 with the swapping of 250 shares and Transjamaican Highway 8% dipped 50 cents in closing at $1.70 in exchanging 120,876 units.
In the preference segment, Eppley 5% preference share gained $1 to end at $21 while exchanging 1,000 stocks, Eppley 7.50% preference share increased 92 cents to $7.04 in trading 707 stock units. Jamaica Public Service 9.5% rose $100 to close at $2900, with stock crossing the exchange, 138 Student Living preference share fell $2 to close at $67 after a transfer of 90 stock units, Productive Business Solutions 9.75% preference share advanced 50 cents ending at $140 trading one share and Productive Business Solutions 10.5% preference share lost $48 to close at $1152, with 100 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD trading drops
Trading dropped sharply from Friday’s levels to start October on a down note on the Jamaica Stock Exchange US dollar market on Monday, with the volume of stocks exchanged declining 96 percent compared to Friday, with 79 percent lesser valued, resulting in the trading of six securities, compared to seven on Friday with one rising, three declining and two left unchanged.
Investors traded 165,305 shares for US$10,692, compared to 3,796,627 units at US$51,064 on Friday.
Trading averaged 27,551 shares at US$1,782, down from 542,375 units at US$7,295 on Friday. September ended with an average of 87,926 shares for US$4,746.
The JSE US Denominated Equities Index lost 2.89 points to end at 212.66.
The PE Ratio, a measure used to compute appropriate stock values, averages 8.9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and two with lower offers.
At the close, First Rock Real Estate USD share declined 0.04 of a cent to 6.78 US cents, with 33,107 shares changing hands, Proven Investments remained at 20 US cents, with 13,261 stock units crossing the market, Sygnus Real Estate Finance USD share gained 0.56 of one cent to end at 12.93 US cents with an exchange of 153 stocks and Transjamaican Highway fell 0.02 of a cent in ending at 1 US cent in trading 118,065 units.
In the preference segment, Productive Business 9.25% preference share ended at US$10.50 with 419 units clearing the market and JMMB Group 6% shed 10.99 cents in ending at 98 US cents trading 300 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market slips into October
Trading dropped on the Junior Market of the Jamaica Stock Exchange Monday, with the volume of stocks traded declining 50 percent, with a 56 percent lower value than on Friday with all 47 listed securities traded versus 46 on Friday and ended with 15 rising, 25 declining and seven closing unchanged.
A total of 9,973,506 shares were exchanged for $34,778,543 down from 19,888,010 units at $79,051,861 on Friday. Trading averaged 212,202 shares at $739,969 compared to versus 432,348 shares at $1,718,519 on Friday. September closed with an average of 470,099 units at $1,578,447.
Future Energy Source led trading with 1.80 million shares for 18.1 percent of total volume followed by Fosrich with 1.25 million units for 12.5 percent of the day’s trade and ONE on ONE Educational with 826,513 units for 8.3 percent market share.
At the close, the Junior Market Index dropped 22.14 points to settle at 4,207.40. The PE Ratio, a measure of computing appropriate stock values, averages 12.7. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year ends that fall between November this year and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial declined $2.42 in ending at $25.30 after trading 66,503 shares, Blue Power gained 23 cents in closing at $3.48 after a transfer of 91 units, Caribbean Cream shed 11 cents to $4.01 in switching ownership of 21,005 stocks. 
Consolidated Bakeries popped 44 cents to end at 52 weeks’ high of $3.10 after exchanging 99,539 stock units, Dolphin Cove dipped 10 cents to $14.40, with 341 stocks changing hands, EduFocal climbed 17 cents to $2.62 in exchanging 404,327 units. Elite Diagnostic lost 12 cents after ending at $3.38, with 231,300 stock units crossing the market, Everything Fresh rallied 15 cents to $1.70 while exchanging 601,231 shares, Future Energy Source fell 23 cents to $5.50 after trading at 1,804,574 units. Honey Bun rose 19 cents to $8 after 3,030 shares crossed the market, Indies Pharma dipped 13 cents to close at $3.07 with investors transferring 17,340 stock units, Iron Rock Insurance rose 26 cents in closing at $2.76 after clearing the market of 2,915 stocks. ISP Finance increased $1.92 to end at $21.10 with a transfer of 14 units, KLE Group declined 29 cents to $1.88 in trading 6,612 stock units, Knutsford Express gained 60 cents to $8 as investors exchanged 8,403 shares. Lasco Distributors dropped 10 cents to close at $3 in an exchange of 84,795 stocks, Lasco Manufacturing dipped 10 cents to $4.40 with the swapping of 81,851 units, Mailpac Group shed 17 cents to $2.30, with 71,307 stocks crossing the exchange. Main Event lost 95 cents in ending at $8.50 after exchanging 6,530 shares, Medical Disposables fell 23 cents to end at $5.60 and closed with 14,152 stock units being traded, MFS Capital Partners dropped 82 cents to end at $2.18 with an exchange of 383,288 units. 
Paramount Trading lost 21 cents in ending at $1.76 with investors transferring 232,528 stock units, Spur Tree Spices dipped 25 cents to $3.60 in an exchange of 773,617 shares, Stationery and Office Supplies declined $1.77 to close at $16.03 as investors exchanged 17,842 stocks and tTech increased 26 cents in closing at $2.80, with 58 shares crossing the exchange.
In the preference segment, CAC 2000 9.5% preference share fell 17 cents to close at $1.01, with 51,658 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dropped from Friday’s heady levels
Stocks started out October with the Markets in positive territory but failed to hang onto most of the early gains with the market slipping mildly at the close as trading on the Jamaica Stock Exchange fell back from Friday’s big volume.
JSE Combined Index, a measure of the overall market, fell 1,125.60 points to end at 375,096.12, the All Jamaican Composite Index popped 189.12 points to close at 414,132.43, the JSE Main Index fell 989.99 points to 360,701.61, the Junior Market Index shed 22.14 points to 4,207.40 and the JSE USD market Index slipped 2.89 points to close 212.66.
Trading ended, with 21,708,505 shares changing hands, valued at $280.7 million shares down from $2.47 billion, with 236,220,291 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded at US$10,692 from US$51,064 on Friday.
The market’s PE ratio ended at 23.8 based on 2021-22 earnings and 12.8 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Junior Market delivered 2022 JSE best
The eleven best performing stocks on the Jamaica Stock Exchange for 2022 to the end of September, all came from the Junior Market with Fosrich, a company that expanded into manufacturing, put in an incredible run of 326 percent, the 2022 listed Spur Tree Spices was second with gains of 285 percent and Tropical Battery coming in at tenth position with gains of 99 percent.
Future Energy, distributors of gasoline, produced a rise of 96 percent to cap a spectacular two year run. 1834 Investments climbed 83 percent to be the best performing main market stock, after the company agreed to be acquired by Radio Jamaica, followed by Portland JSX, with 52 percent and Supreme Ventures the gaming company came next at 46 percent, in a period when the main market declined in value.
Access jumps ICTOP10 with 24% gains
Access Financial leaves the ICTOP10 this past week following the prior week’s 12 percent gain to $22.30 and a sizable 24 jump in the past week to close at $27.72, with 38,331 shares trading on Friday and leaving just nine lots being offered for sale at the close.
Access Financial Services head office.
For the first time in weeks, Access had more bids at the close on Friday than offers, a positive sign for more gains ahead. With month end window dressing, it is unclear what the coming weeks may hold for this stock.
For the overall market, there are positive signs for the market. Despite Jamaica’s central bank having overdone interest rate increases, investors continue to pump more money into local stocks, Jamaica Stock Exchange data show. Main and Junior market stocks closed September higher than August, with funds accompanying trading substantially higher in each case. These are positive signals for the months ahead for the markets, with the Main Market having the lowest monthly trade of less than $2 million in July, with January the next lowest with $2.7 million.
Action in IC TOP10 stocks had some strong gains in the Junior Market the past week, with Lasco Distributors gaining 9 percent this past week to $3.10, Elite Diagnostic climbing 6 percent to $3.50, Lasco Financial gaining 5 percent to $2.83 as Caribbean Cream dropped 8 percent to $4.12.
In the Main Market, Productive Business Solutions rose 5 percent to US$1.39, Key Insurance gained 4 percent to $3.50, but Berger Paints shed 9 percent to $10, followed by Caribbean Producers, with a 6 percent to $13.14.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.2, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.8, important indicators of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 246 percent and the Main Market TOP10 s projected to gain an average of 243 percent, by May 2023.
The Junior Market currently sells at an average PE of around 12.8 but already there are 13 stocks representing 25 percent of the market, with PEs from 16 to 36, averaging 22. The top half of the market has an average PE of 18. The data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the main market is similar, with the 15 highest valued stocks priced at a PE of 16 to 100, averaging 27.5 and 22 excluding the highest valued one.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting with the market index slowly bouncing off a recent bottom.
ICTOP10 focuses on likely yearly winners. The list includes some of the best listed companies but not always. 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 are likely to deliver the best returns up to the end of May 2023 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.
