The Jamaica Stock Exchange Main Market closed the past week some 6,000 points higher than the previous week while the Junior Market ended slightly higher, resulting in four Junior Market TOP10 stocks declining between one and 5 percent as five gained between one and 31 percent while the Main Market TOP10 had six rising and three declining.
The Junior Market Iron Rock Insurance popped 31 percent to $2.35, General Accident gained 13 percent to $5, followed by Dolphin Cove with an 11 percent rise to $14.78 and a 5 percent increase for Caribbean Cream to $3.35. Medical Disposables fell 5 percent to $4.90 and Lasco Distributors slipped 4 percent to $2.71.
In the Main Market, Guardian Holdings jumped 12 percent to $645, Scotia Group rose 9 percent to $34.90, followed by Berger Paints with a 6 percent rise to $10.61 and JMMB Group up 4 percent to $32.10. Stocks declining are 138 Student Living, that fell 12 percent to $5 and Jamaica Broilers, down 8 percent to $29.50.
After reentering the TOP10 in the previous week, the Main Market’s Scotia Group swapped places with Radio Jamaica returning to the TOP flight of stocks. The Junior Market’s CAC2000, Dolphin Cove and Medical Disposables dropped out, following lower earnings projections and were replaced by Caribbean Brokers with its price down to $1.98, Lasco Manufacturing and Tropical Battery.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.4, while the Junior Market Top 10 PE sits at 6.1 versus the market at 12.6, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 232 percent and the Main Market TOP10 by an average of 265 percent to May 2023.
The Junior Market has 14 stocks around 30 percent of the market, with PEs from 15 to 33, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 17 and shows the extent of potential gains that lie ahead for the TOP 10 stocks. The situation in the Main Market is similar, with the 17 highest valued stocks priced at a PE of 15 to 105, with an average of 32 and 24 excluding the highest valued ones and 21 for the top half excluding the highest valued stock.
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.
Trading ended with an exchange of 57,304,112 shares compared with 14,915,848 units on Thursday, with the value dropping to $258.7 million from $134.4 million on the previous day.
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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.
Trading ended with an exchange of 14,915,848 shares up from 125,922,690 units on Wednesday, with the value dropping to $134.4 million from $948.7 million on the previous day. The JSE USD market ended with the value of stocks traded amounting to US$24,703 up from US$12,842 on Thursday.
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.
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.
At the close, the Combined Market Index climbed 695.36 points to 353,274.84, the All Jamaican Composite Index jumped 2,594.86 points to settle at 382,179.92, the JSE Main Index advanced a mere 86.10 points to 340,467.96, the Junior Market rallied 67.01 points to 3,885.74 and the JSE US dollar market popped 8.46 points to 244.15. 
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.
Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
At the close, the Combined Market Index climbed 1,257.94 points to 352,579.48, the All Jamaican Composite Index gained 27.39 points to close at 379,585.06, the JSE Main Index rallied 1,715.42 points to 340,381.86, the Junior Market shed 37.30 points to 3,818.73 and the JSE USdollar market popped 4.71 points to 235.69.
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.
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.
At the close of the market, the volume and the value of stocks traded just slipped below that on Friday.
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.
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.
At the same time, the Junior Market Top 10 PE sits at 5.7 versus the market at 12, important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 256 percent and the Main Market TOP10, an average now of 270 percent, to May 2023.
ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks, helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
The issue will amount to 20 percent of the increased share capital of 1.2394 billion shares, up from 991.56 million currently issued. The offer values the company at $2.5 billion and that should rise to around $5 billion sometime after listing.
At the same time, the
The JSE USD market ended with the value of stocks traded amounting to US$5,115 from US$5,493 on Thursday.
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.
