In a week when Junior Market made a modest move higher, the Main Market closed lower, and resulted in no new entrants into the IC top 10 lists, in a week when three stocks gained 10 percent or more and one with a 6 percent increase, with no significant declines.
Price changes worth noting include, Medical Disposables with a 12 percent rise to $5.79, Paramount Trading up 10 percent to $2.04 and Caribbean Assurance Brokers rising 6 percent to close the week at $2.59 in the Junior Market and Caribbean Producers gaining 11 percent to close the week at $13.93, to move from number one spot last week to third this week and Key Insurance rising 4 percent to $3.64 in the Main Market. Caribbean Cream earnings per share were reduced to 70 cents for the year to February from 80 cents previously.
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 13.7. At the same time, the Junior MarketTop 10 PE sits at 5.8 versus the market at 12.5, essential indicators of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main Market TOP10 by an average of 247 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 15 to 36, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18. This 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 78, with an average of 26 and 22 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
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 recent lows.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market 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, 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.
Investors showed hesitance in buying stocks, trading 6,909,965 shares for $29,190,379 versus 4,041,001 units at $117,403,602 on Thursday.
At the close, Barita Investments popped 57 cents to $102.47 after swapping 15,273 stock units, Caribbean Cement rallied 75 cents to close at $58.75, with 472 units crossing the exchange. Caribbean Producers increased 43 cents in closing at $13.93, with 14,795 stocks changing hands, Eppley Caribbean Property Fund gained $1.01 to end at $39.02 after trading 500 stock units, First Rock Real Estate dropped $1.19 to close at $14.16 with 2,000 units changing hands. GraceKennedy dipped 50 cents, ending at $89.50, with 27,637 stocks clearing the market, Guardian Holdings rose $3.98 to $500 in switching ownership of 50 shares, Jamaica Producers advanced $1 to $20 as investors exchanged 7,669 stocks. Margaritaville shed $2.90 to $22.60 after trading 99 stock units, Massy Holdings declined $3.89 in closing at $81.11 in trading 111 units, Mayberry Investments fell 60 cents to close at $7.40 with investors transferring 1,011 shares. NCB Financial lost $1.26 after ending at $88.73 in an exchange of 2,531 stock units, PanJam Investment fell $4.28 to end at $52.71 as 5,029 stocks were exchanged, Proven Investments rallied 50 cents to $30.55, with 6,065 units crossing the market. 
Sagicor Group increased 50 cents ending at $50.50 with an exchange of 3,010 shares, Seprod declined $1.06 to end at $69.94 with a transfer of 14,416 units and Wisynco Group dipped 48 cents to close at $17.92 in exchanging 84,013 stocks.
A total of 1,540,645 shares were traded for $9,131,764 compared to 368,390 stock units at $4,141,230 on Thursday.
Massy Holdings ended at $4.50 as investors exchanged 508,515 units, National Enterprises gained 11 cents after ending at $3.27 in exchanging 5,355 stocks, National Flour Mills advanced 6 cents to $1.65 in switching ownership of 2,839 stock units. Prestige Holdings remained at $6.65 with a transfer of 10,000 shares, Republic Financial Holdings ended at $139 after a transfer of 1,083 stock units, Scotiabank dipped 1 cent in closing at $77.89 with the swapping of 263 stocks. Trinidad & Tobago NGL rose 4 cents to $22.09 with an exchange of 224 units, Trinidad Cement remained at $3.50 and closed with 4,000 stock units changing hands, Unilever Caribbean dropped 15 cents to close at $12.85 in trading 100 shares and West Indian Tobacco fell 25 cents to end at a 52 weeks’ low of $22 in exchanging 88,079 units.
Overall, 311,092 shares were traded for US$26,259 compared to 391,069 units at US$21,025 on Wednesday.
Proven Investments rallied 0.99 of one cent to close at 19.99 US cents in trading 13,486 stock units, Sterling Investments remained at 1.9 US cents after trading 17,710 stocks, Sygnus Credit Investments USD share rose 0.5 of one cent to 9.5 US cents after 2,289 shares changed hands and Transjamaican Highway declined 0.04 of a cent in closing at 0.85 of one US cent in exchange of 219,942 units.
Only 4,041,001 shares were traded for $117,403,602 against 21,251,911 units at $46,083,372 on Wednesday.
The JSE Main and USD Market PE ratios incorporate ICInsider.com’s projected profit for companies with the financial year ending between November and August 2023.
Sagicor Group dropped 50 cents in closing at $50 with 31,210 stocks traded, Seprod rose $2 to $71 in exchanging 6,536 shares, Supreme Ventures advanced 40 cents to $27.50, with 72,865 units changing hands and Wisynco Group lost 70 cents to close at $18.40 after exchanging 8,716 shares.
A total of 368,390 shares were exchanged for $4,141,230 versus 795,951 shares at $5,635,377 on Wednesday. An average of 17,542 units traded at $197,201 versus 44,220 shares at $313,077 on Wednesday, with trading month to date averaging 22,425 shares at $288,492 compared to 22,885 units at $297,089 on the previous day. The average trade for September amounts to 45,817 at $463,533.
JMMB Group increased 2 cents to end at $2.02 after exchanging 5,000 stocks, Massy Holdings remained at $4.50 in an exchange of 47,111 units, National Flour Mills ended at $1.59, with 4,506 stock units crossing the market. NCB Financial Group dipped 18 cents to $4.80 with an exchange of 1,399 stock units, Point Lisas climbed 17 cents to $3.25 while exchanging 32 units, Prestige Holdings ended at $6.65 in exchanging 290 shares. Republic Financial Holdings dropped $1 to $139 in switching ownership of 4,122 stock units, Scotiabank remained at $77.90, with 1,431 shares clearing the market, Trinidad & Tobago NGL declined 20 cents in ending at $22.05 after exchanging 35 stocks. Trinidad Cement ended at $3.50 after a transfer of 55 units, Unilever Caribbean advanced 20 cents in closing at $13 as investors exchanged 30 stock units and West Indian Tobacco popped 5 cents to $22.25 in trading 2,000 stock units.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close, Caribbean Producers rallied $1 to $13.98, with 880,504 shares crossing the market, First Rock Real Estate popped $1.27 to $15.40 in trading 50,070 stock units, GraceKennedy gained $1.71 to end at $90.41 as investors exchanged 36,305 units. Guardian Holdings declined $3.98 to $496.02 and closed after ten stocks were exchanged, Jamaica Broilers dropped 41 cents in closing at $29.14 in exchanging 10,212 units, Jamaica Stock Exchange rose 47 cents to end at $15.99 in switching ownership of 3,500 stocks. JMMB Group dipped 40 cents to $38.10 with an exchange of 13,949 shares, Kingston Wharves fell $1 in closing at $38 while exchanging 1,297 stock units, Margaritaville popped $4.15 to close at $25.50 in trading two units. 138 Student Living climbed 73 cents to $5.50, with 260 stock units crossing the exchange, Palace Amusement climbed $40 to $840 after just two shares changed hands, PanJam Investment rose $1.50 to $56.50 in an exchange of 11,455 stocks. Proven Investments shed $2.25 to $30.13 after an exchange of 4,093 units, Sagicor Group gained 50 cents in closing at $50.50 after exchanging 6,657 shares, and trading at a 52 weeks’ intraday low of $49.90. Scotia Group lost 40 cents to close at $35.60, with 100,649 stock units clearing the market, 
Seprod declined $1.95 to $69, with 2,447 stocks crossing the market, Stanley Motta increased 44 cents in ending at $5 with the swapping of 9 stock units and Wisynco Group popped 95 cents to $19.10 with a transfer of 11,410 stocks.In the preference segment, 138 Student Living preference share shed $4 to close at $60 after exchanging 58 shares and Productive Business Solutions 9.75% preference share lost $19.59 in closing at $107 after a transfer of 307 units.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
A total of 795,951 shares were traded for $5,635,377, compared to 494,611 shares at $6,758,165 on Tuesday. An average of 44,220 units traded at $313,077 compared to 24,731 shares at $337,908 on Tuesday, with trading month to date averaging 22,885 shares at $297,089 versus 21,012 units at $295,685 September closed with an average of 45,817 shares at $463,533.
Massy Holdings advanced 5 cents in closing at $4.50 with the swapping of 438,021 units, National Enterprises dipped 12 cents to $3.16 in switching ownership of 13,317 stocks, National Flour Mills remained at $1.59, with 31,050 stock units changing hands. Prestige Holdings lost 5 cents to end at $6.65 while exchanging 275 shares, Republic Financial Holdings ended at $140, with investors exchanging 300 stocks, Scotiabank fell 10 cents to $77.90 after trading 301 units. Trinidad & Tobago NGL rallied 15 cents to $22.25 as 5,052 stock units passed through the market, Trinidad Cement ended at $3.50 after exchanging 358 units and West Indian Tobacco shed 5 cents in ending at a 52 weeks’ high of $22.20 with a transfer of 95 stocks.
At the close, Barita Investments dropped $1.30 to $102.90 after a transfer of 7,233 shares, Berger Paints advanced 44 cents to $11.24 with a transfer of 352 stocks, Caribbean Cement declined $1.50 to close at $58 after trading 1,003,552 units. Caribbean Producers popped 48 cents in closing at $12.98, with 90,985 stock units crossing the exchange, Eppley Caribbean Property Fund fell $1.99 to $38.01 after trading 1,404 units, GraceKennedy dipped $1.30 to $88.70 with investors transferring 70,957 stocks. Kingston Wharves rose $1 to $39, with 8,662 shares changing hands, Margaritaville increased $1.95 in closing at $21.35 after an exchange of two stock units, Massy Holdings shed $3.97 to close at $80.03 as investors exchanged 1,748 stocks. MPC Caribbean Clean Energy rallied $1.60 to $84 after switching ownership of 821 stock units, NCB Financial lost 50 cents in closing at $88.50 and exchanging 30,501 units, 138 Student Living declined 73 cents to $4.77 with the swapping of 894 shares. Palace Amusement jumped $69.98 to $800 in trading seven shares, PanJam Investment shed $1 to end at $55 after 764 stocks were traded, Proven Investments climbed $1.38 to close at $32.38, with 3,060 stock units crossing the market. Sagicor Group dropped 50 cents to close at $50, with 18,075 units clearing the exchange, Scotia Group rallied 45 cents to $36 with an exchange of 5,245 shares, Stanley Motta dipped 44 cents to $4.56 after exchanging 3,740 units. 
Sygnus Credit Investments USD share increased $1.31 to $14.37 in an exchange of 824 stock units, Sygnus Real Estate Finance rose 75 cents to 10 in exchanging 1,000 stocks and Wisynco Group fell $1.05 to $18.15 while trading 64,845 stocks.
A total of 294,958 shares were traded for US$41,204, up from 185,693 units at US$5,262 on Friday.
Sterling Investments declined 0.23 of a cent to 2 US cents, with 25,275 stock units changing hands, Sygnus Credit Investments USD share slipped 1.01 cents to 9.51 US cents while exchanging 56,082 stock units, Sygnus Real Estate Finance USD share fell 1.62 cents to 10 US cents, with 5,370 stocks changing hands and Transjamaican Highway ended at 0.9 US of one cent with an exchange of 49,550 units.
