Falling prices dominated the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks changing hands rising 144 percent and the value climbing 48 percent more than on Monday, resulting in 20 securities trading up from 17 on Monday, with three stocks rising, eight declining and nine remaining unchanged.
A total of 494,611 shares were traded for $6,758,165 versus 202,722 shares at $4,553,220 on Monday.
An average of 24,731 shares were exchanged at $337,908 compared with 11,925 shares at $267,836 on Monday and trading month to date averaged 21,012 shares at $295,685 versus 20,610 units at $291,120 on the previous day. September ended with an average of 45,817 at $463,533.
The Composite Index dipped 7.00 points to 1,335.03, the All T&T Index fell 1.22 points to 2,000.32 and the Cross-Listed Index lost 1.84 points to settle at 87.22.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s fell $1.50 to $42.50 with an exchange of 1,196 shares, Angostura Holdings gained 1 cent to end at $24.96 as investors exchanged 500 units, Ansa McAl ended at $56.50 after trading just two stock units. Ansa Merchant Bank remained at $42.20 with investors transferring 816 stocks, Calypso Macro Investment Fund ended at $22 with an exchange of 17 shares, Clico Investment Fund lost 10 cents to close at $29.90, with 12,022 units crossing the market. Endeavour Holdings popped 60 cents in closing at $7.60 after exchanging 214 stocks, First Citizens Group rose 5 cents to $50.05 with the swapping of 4,963 stock units, FirstCaribbean International Bank remained at $5 as 37 stocks passed through the market.
GraceKennedy ended at $5.20 after 40,217 units changed hands, Guardian Holdings remained at $25.05, with 594 shares clearing the market, JMMB Group dropped 2 cents to $2 in exchanging 70,000 stock units. Massy Holdings shed 4 cents in closing at $4.45 after a transfer of 263,478 units, National Enterprises declined 2 cents to $3.28 in trading 32,035 stock units, NCB Financial Group remained at $4.98 in switching owners of 13,915 stocks. Republic Financial Holdings ended at $140 while exchanging 13,389 shares, Scotiabank dipped 1 cent to $78 in trading 27,966 shares, Trinidad & Tobago NGL fell 40 cents to $22.10 with a transfer of 8,250 stock units. Unilever Caribbean lost 20 cents in closing at $12.80, with 2,000 stocks crossing the market and West Indian Tobacco ended at $22.25, with an exchange of 3,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling prices dominate Trinidad Exchange
Trading drops on Trinidad Exchange
The volume and value of stocks traded declined sharply to commence the week as market activity ended on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded declining 53 percent with the value 66 percent lower than on Friday and resulted in the trading of 7 securities compared with 19 on Friday, with two stocks rising, four declining and 11 remaining unchanged.
A total of 202,722 shares were exchanged for $4,553,220 down from 431,272 shares at $13,264,598 on Friday. An average of 11,925 units traded at $267,836 compared to 22,699 shares at $698,137 on Friday, with trading month to date averaging 20,610 shares at $291,120 down from 21,488 units at $293,476 on the previous trading day. The average trade for September amounts to 45,817 at $463,533.
The Composite Index rallied 6.24 points to 1,342.03, the All T&T Index climbed 0.56 points to 2,001.54 and the Cross-Listed Index advanced 1.72 points to settle at 89.06.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Angostura Holdings ended at $24.95 after trading 8,902 shares, Clico Investment Fund remained at $30 with the swapping of 32,476 stocks, First Citizens Group remained at $50 in switching ownership of 550 stock units. FirstCaribbean International Bank ended at $5 with 12,031 units clearing the market, GraceKennedy remained at $5.20 with an exchange of 45,777 stock units, Guardian Holdings declined 15 cents in ending at $25.05, as12,605 shares passed through the market.
JMMB Group ended at $2.02 with a transfer of 11,450 stocks, Massy Holdings dipped 1 cent to end at $4.49 with 36,090 units crossing the market, National Enterprises inched 1 cent higher to close at $3.30 in an exchange of 18,424 shares. National Flour Mills ended at $1.59, with ten units crossing the exchange, NCB Financial Group gained 23 cents to close at $4.98 after 1,045 stock units changed hands, Prestige Holdings ended at $6.70 after an exchange of 51 stocks. Republic Financial Holdings shed 4 cents to close at $140 in trading 16,235 stocks, Scotiabank remained at $78.01 after an exchange of 774 stock units, Trinidad & Tobago NGL ended at $22.50 in trading 4,447 shares. Unilever Caribbean dipped 4 cents to $13 as investors exchanged 700 units and West Indian Tobacco remained at $22.25 while trading 1,155 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ jumps to top ICTOP10 Main Market
In a week when markets closed lower, there were two changes to the IC top 10 lists, with Jetcon Corporation and Lasco Manufacturing falling out and Iron Rock Insurance and Paramount Trading returning as Caribbean Producers surged to the top of the Main Market ICTOP10, following the release of record full year results, with earnings of 6.8 US cents per share or approximately J$1.05, with a projection off J$2.75 for the fiscal year ending June 2023.
Price changes in both markets were relatively small, with Jetcon Corporation gaining 4 percent to close the week at $1.10, while Caribbean Cream declined 6 percent to $4.06 and Dolphin Cove fell by 4 percent to $13. In the Main Market, Sygnus Credit Investments lost 5 percent to end at $13.40, the only noticeable change.
At the end of the week, the average PE for the JSE Main Market TOP10 is 6.2, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.6 versus the market at 12.7, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 263 percent, and the Main Market TOP10 projected to gain an average of 250 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 16 to 37, averaging 21 compared with the above-average 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 15 to 80, with an average of 25 and 21 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 gains are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Steady trading on the JSE Main Market
Main Market trading was steady on Friday, with the volume and value of stocks traded close to Thursday’s levels after trading took place in 57 securities compared to 58 on Thursday on the Jamaica Stock Exchange Main Market and ended, with 19 rising, 21 declining and 17 ending unchanged.
A total of 9,143,240 shares were exchanged for $81,104,853 compared with 10,652,600 units at $71,783,616 on Thursday. Trading averaged 160,408 units at $1,422,892, versus 183,666 shares at $1,237,649 on Thursday and month to date, an average of 154,055 units at $1,606,991, compared to 153,352 units at $1,627,367 on the previous trading day. September closed with an average of 533,719 units at $5,494,282.
Transjamaican Highway led trading with 1.80 million shares for 19.6 percent of total volume followed by Wigton Windfarm with 1.47 million units for 16.1 percent of the day’s trade, Caribbean Producers ended with 1.26 million units for 13.8 percent of trading and QWI Investments with 1.19 million units for 13 percent market share.
The All Jamaican Composite Index fell 500.21 points to 406,374.06, the JSE Main Index declined 358.44 points to 355,737.49 and the JSE Financial Index dipped 0.04 points to 85.64.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 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 seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments declined $2.04 ending at $104.20 clearing the market with 181,009 units, Caribbean Cement rose 50 cents to close at $59.50 after a transfer of 37,879 stocks. Caribbean Producers fell 64 cents to end at $12.50 while exchanging 1,258,697 stock units, Eppley lost 50 cents to end at $38.50 in exchanging 230 stock units, Eppley Caribbean Property Fund dipped $4 to close at $40, with 11,184 shares crossing the exchange. Guardian Holdings dropped $5 to $500 with an exchange of 752 stocks, JMMB Group increased 45 cents in closing at $38.45 with investors transferring 14,379 units, Massy Holdings advanced $1.50 to end at $84, seven shares changing hands. NCB Financial fell $1 to $89 in switching ownership of 33,107 stock units, Palace Amusement lost $19.98 to close at $730.02 after trading four units, PanJam Investment dipped $1 to $56 after 1,206 stocks crossed the market. Proven Investments popped $1 to end at $31 after exchanging 501 stock units, Sagicor Group rallied 50 cents in closing at $50.50 after 99,108 stocks changed hands, Scotia Group climbed 55 cents after ending at $35.55 in trading 60,131 shares. 
Sygnus Real Estate Finance declined $1.05 to close at $9.25 as investors exchanged 200 units and Wisynco Group gained 70 cents in ending at $19.20 with a transfer of 18,537 stocks.
In the preference segment, 138 Student Living preference share shed $1 to end at $67 after trading 36 stock units and Productive Business Solutions shed $49 in closing at $1100 in an exchange of 450 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD market rises with lower volume
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks exchanged declining 48 percent and the value falling 72 percent compared to trading on Thursday, resulting in seven securities traded, down from nine on Thursday, with three rising, one declining and three ending unchanged.
A total of 185,693 shares were traded for US$5,262 compared to 359,174 units at US$18,682 on Thursday.
Trading averaged 26,528 units at US$752 versus 39,908 shares at US$2,076 on Thursday, with a month to date average of 35,641 shares at US$2,374 versus 36,419 units at US$2,513 on the previous day. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index lost 0.39 points to end at 212.41.
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 no stock ending with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share gained 0.83 of a cent to end at 7.98 US cents after exchanging 100 shares, MPC Caribbean Clean Energy rose 5 cents to 85 US cents, with 21 units being traded, 
Proven Investments ended at 19 US cents after trading 14,623 stocks. Sygnus Credit Investments USD share added 0.72 of one cent in ending at 10.52 US cents, with 3,483 stock units changing hands and Transjamaican Highway lost 0.01 of a cent in closing at 0.9 of one US cent in trading 167,387 stock units.
In the preference segment, Productive Business 9.25%p reference share remained at US$11.10 in an exchange of 50 shares and Equityline Mortgage Investment preference share ended at US$1.75 with an exchange of 29 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on TTSE
Investors exchanged 391 percent more funds on the Trinidad and Tobago Stock Exchange to trade slightly more shares on Friday than they did on Thursday resulting in stocks of 19 companies trading up from 13 on Thursday, with prices of four rising, six declining and nine remaining unchanged.
A total of 431,272 shares were traded for $13,264,598 up from 422,657 units at $2,703,297 on Thursday. An average of 22,699 shares were exchanged at $698,137 compared to 32,512 shares at $207,946 on Thursday, with trading month to date averaging 21,488 shares at $293,476 versus 21,334 units at $241,876 on the previous day. The average trade for September amounts to 45,817 at $463,533.
The Composite Index rallied 0.68 points to 1,335.79, the All T&T Index advanced 2.91 points to 2,000.98 and the Cross-Listed Index dipped 0.24 points to 87.34.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s ended at $44 with a transfer of 46 shares, Angostura Holdings rallied $1.39 to close at $24.95 with the swapping of 72 units, Ansa McAl remained at $56.50 as 175 stock units passed through the market. Ansa Merchant Bank ended at $42.20, with 50,000 stocks changing hands, Calypso Macro Investment Fund remained at $22 after trading 217 shares, Clico Investment Fund popped 5 cents to close at $30 while exchanging 11,742 stock units. First Citizens Group remained at $50 after a transfer of 3,010 units, FirstCaribbean International Bank dipped 5 cents in ending at a 52 weeks’ low of $5, with 12,932 stocks changing hands, GraceKennedy ended at $5.20 after 190,783 units crossed the exchange. 
Guardian Holdings declined 5 cents to $25.20 after exchanging 20 stock units, JMMB Group remained at $2.02 as investors exchanged 31,846 shares, Massy Holdings increased 5 cents to $4.50 with a transfer of 24,061 stocks. National Enterprises fell 1 cent to close at $3.29 after trading 29,290 shares, Prestige Holdings ended at $6.70 in exchanging 421 units, Republic Financial Holdings advanced 4 cents to $140.04 in trading 64,453 stock units. Scotiabank dropped 38 cents to $78.01 in exchanging 248 stocks, Trinidad & Tobago NGL shed 45 cents to close at $22.50 after 6,699 stocks changed hands, Unilever Caribbean slipped 1 cent to $13.04 in an exchange of 122 units and West Indian Tobacco ended at $22.25 with an exchange of 5,135 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading pickup
Trading picked up on the Jamaica Stock Exchange Main Market on Thursday, with the volume of stocks traded rising 44 percent, with a modest increase in value over trading on Wednesday, with 58 securities trading compared to 57 on Wednesday, leading to prices of 17 rising, 25 declining and 16 ending unchanged.
A total of 10,652,600 shares were traded for $71,783,616 up from 7,390,135 units at $69,722,827 on Wednesday.
Trading averaged 183,666 shares at $1,237,649, up from 129,651 shares at $1,223,207 on Wednesday and month to date, an average of 153,352 units at $1,627,367 versus 149,505 units at $1,676,828 on the previous trading day. September closed with an average of 533,719 units at $5,494,282.
Transjamaican Highway led trading with 3.03 million shares for 28.5 percent of total volume, Wigton Windfarm was next, with 1.67 million units for 15.6 percent of the day’s trading, JMMB Group 7.5% preference share ended with 1.15 million units for 10.8 percent of the market and Wisynco Group with 1.10 million units for 10.3 percent market share.
The All Jamaican Composite Index declined 1,662.75 points to 406,874.27, the JSE Main Index dipped 1,570.82 points to 356,095.93 and the JSE Financial Index slipped 0.20 points to 85.68.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 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 six stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments dropped $1.63 in closing at $106.24 with a transfer of 31,702 stocks, Berger Paints lost 45 cents to end at $10.80, with 2,444 stock units crossing the market. Caribbean Cement fell 73 cents to $59 after a transfer of 6,923 units, Caribbean Producers declined 86 cents to $13.14, with 357,429 stocks crossing the market, Eppley rallied 50 cents to end at $39 while exchanging 247 stock units. GraceKennedy dipped $1 to end at $90, with 77,947 units clearing the market, Guardian Holdings advanced $10 in closing at $505 with investors transferring 200 shares, Jamaica Broilers rose 60 cents to $29.60 after exchanging 11,391 stocks. Mayberry Investments gained 80 cents to close at $8 after an exchange of 7,252 units. Mayberry Jamaican Equities climbed 50 cents to $13.50 in switching ownership of 46,013 stock units, MPC Caribbean Clean Energy popped $11 in closing at $82.40, with 105 shares crossing the exchange. NCB Financial popped $1 to $90 as investors exchanged 56,170 stock units, PanJam Investment increased $7 to close at $57 after trading 2,917 units, Scotia Group shed 97 cents in ending at $35 after exchanging 8,000 stocks. Sygnus Credit Investments rose 60 cents to $13.30 with the swapping of 284,491 shares and Sygnus Real Estate Finance climbed 79 cents in closing at $10.30 with 100 units changing hands.
In the preference segment, JMMB Group 7.25% preference share dipped 48 cents to close at $2.72 with an exchange of 2,283 stock units, 138 Student Living preference share rallied $3.48 in ending at $68, with 697 stocks changing hands, Productive Business Solutions 10.5% increased $49 to close at $1149 after trading 163 shares and Productive Business Solutions 9.75% preference share dropped $10.85 to end at $107.15 in an exchange of 111 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on JSE USD Market, prices fall
Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks exchanged rising 87 percent, valued 27 percent more than on Wednesday, resulting in nine securities traded, compared to 10 on Wednesday with two rising, four declining and three ending unchanged.
Overall, 359,174 shares were traded for US$18,682 up from 191,964 units at US$14,483 on Wednesday.
Trading averaged 39,908 units at US$2,076 compared to 19,196 shares at US$1,448 on Wednesday, with a month to date average of 36,419 shares at US$2,513 versus 35,988 units at US$2,567 on the previous day. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index lost 3.15 points to end at 212.02.
PE Ratio, a measure used to compute appropriate stock values, averages 8.6 for the market. The PE ratio utilises ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and none with a lower offer.
At the close, First Rock Real Estate USD share fell 0.34 of one cent to close at 7.15 US cents in switching ownership of 5,945 shares, Proven Investments lost 0.2 of a cent in ending at 19 US cents after it traded at an intraday low of 18.5 cents in trading 57,398 stocks, Sygnus Credit Investments J$ share remained at 15.63 US cents after exchanging three stock units. Sygnus Credit Investments USD share rallied 0.29 of a cent to 9.8 US cents with the swapping of 4,697 units and 
Transjamaican Highway declined 0.08 of one cent in closing at 0.91 of a US cent, with 288,969 stocks changing hands.
In the preference segment, Productive Business 9.25% preference share climbed 10 cents to close at a 52 weeks’ high of US$11.10 while exchanging 100 units. Eppley 6% preference share ended at US$1.13 in trading six stock units, Equityline Mortgage Investments preference share shed 10 cents in closing at US$1.75 after trading 56 shares and JMMB Group 5.75% remained at US$1.50 with 2,000 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Drop in trading hurts stocks
Stocks mostly fell Thursday, on the Trinidad and Tobago Stock Exchange, with the volume of stocks traded declining 50 percent, with the value dropping 75 percent from Wednesday, resulting in just trading in just 13 securities compared with 20 on Wednesday. At the close only one stock rose, six declined and six remained unchanged.
A total of 422,657 shares were exchanged for $2,703,297 down from 852,387 shares at $10,645,266 on Wednesday. An average of 32,512 shares were traded at $207,946 compared to 42,619 units at $532,263 on Wednesday. Trading month to date averaged 21,334 shares at $241,876 versus 20,266 units at $245,119 on the previous day. September’s trading averaged 45,817 shares at 463,533.
The Composite Index lost 4.84 points to close at 1,335.11, the All T&T Index fell 0.46 points to 1,998.07 and the Cross-Listed Index slipped 1.33 points to 87.58.
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, Angostura Holdings ended at $23.56, with 20 shares crossing the exchange, Ansa McAl remained at $56.50 with an exchange of 98 stocks, Clico Investment Fund gained 5 cents to end at $29.95 in trading 26,151 units. First Citizens Group shed 5 cents to end at $50 after 1,626 stock units passed through the market, GraceKennedy remained at $5.20 in exchanging 590 stock units, Guardian Holdings ended at $25.25 with ten stock units changing hands. 
JMMB Group ended at $2.02 as investors exchanged 159,748 units, Massy Holdings dipped 5 cents to end at $4.45 with 25,667 shares clearing the market, NCB Financial Group declined 17 cents in closing at $4.75 after exchanging 201,010 units. Point Lisas fell 17 cents to $3.08 in trading 50 shares, Republic Financial Holdings dipped 4 cents to close at $140 after1,917 stocks crossed the market, Scotiabank remained at $78.39 in trading 700 stock units and Trinidad & Tobago NGL lost 5 cents in closing at $22.95 with a transfer of 5,070 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Losers outpaced winners on JSE USD market
Trading fell sharply from the healthy levels on the Jamaica Stock Exchange US dollar market on Wednesday with the volume of stocks exchanged declining 85 percent, valued at 83 percent less than on Tuesday and resulting in an exchange of 10 securities, similar to trading on Tuesday with one rising, five declining and four ending unchanged.
A total of 191,964 shares were traded for US$14,483 compared to 1,284,881 units at US$85,810 on Tuesday.
Trading averaged 19,196 units at US$1,448 compared with 128,488 shares at US$8,581 on Tuesday, with a month to date average of 35,988 shares at US$2,567 versus 38,654 units at US$2,744 on the previous trading day. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index lost 1.87 points to end at 215.17.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. 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 ending with a bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share dipped 0.51 of one cent to close at 7.49 US cents with 140,493 shares passing through the market, MPC Caribbean Clean Energy ended at 80 US cents with a transfer of 30 stocks, Proven Investments shed 0.8 of a cent to end at 19.2 US cents with the swapping of 11,764 units. Sterling Investments dipped 0.02 of one cent to 2.23 US cents after exchanging 17,543 stock units, Sygnus Credit Investments USD share fell 1.11 cents to 9.51 US cents, with 5,000 stocks crossing the market and 
Transjamaican Highway lost 0.01 of a cent to end at 0.99 of one US cent after 16,439 stock units passed through the exchange.
In the preference segment, Productive Business 9.25% preference share advanced 40 cents to a 52 weeks’ high of US$11 after a transfer of 20 units, Equityline Mortgage Investment preference share remained at US$1.85, with 26 shares changing hands, JMMB Group 5.75% remained at US$1.50 as 99 stocks passed through the market and JMMB Group 6% ended at US$1.06 after trading 550 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
