Shuffling of stocks in the TOP 10 list was quite pronounced this past week with two companies exiting and entering each list. Jetcon Corporation and CAC 2000 slipped out of the Junior Market TOP 10, and were replaced by Dolphin Cove and Lasco Financial.
Entering the TOP 10 main market list are Berger Paints, returning after a recent fall from the list and Grace Kennedy that dropped out previously.
In the main market of the Jamaica Stock Exchange, Scotia Investments earnings per share have been sharply reduced with the latest results for the half year showing no growth, with the stock falling off the
TOP 10 list as a result, while Salada Foods price rose to $10, resulting in it being pushed off the list.
In trading last week, tTech demand is building while selling has eased with limited supply being shown in the market. Elsewhere, NCB Financial Group is hitching for a major breakout from a wedge formation.
As indicated in recent weeks, market movement continues to be constrained by near term resistance levels which is acting as short term restraint to a break out from current levels for the time being.
The average PE ratio for the Junior Market Top stocks is 7.4 and 7.2 in the main market, these compare favourably with 13.8 for the overall main market and 13 for Junior Market, based on 2017 estimated earnings. Several stocks are trading below the average, and have the potential for more gains for the rest of 2017, barring major negative developments.
In a number of cases, the TOP stocks will need to deliver results in the upcoming quarter in order to send a message that the potential they have will be manifested.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 45 percent to the Junior Market average, while those in the main market are trading at a 48 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead. At the end of April the reading was 35 percent discount for the juniors and 53 percent for the majors.
Berger & Scotia Group jump TOP 10
Scotiabank jumped out of TOP 10.
The main market of the Jamaica Stock Exchange, moved forward on each day of the past week except for a fall on Thursday to sit close to the all-time high on Friday. Movement in the Junior Market was up and down but a few stocks traded at new highs during the week.
In the main market, IC Insider downgraded the earnings of Carreras to $9 after the company reported full year results, the stock jumped to a record $89 at the close of the week and is out of the top listing. Carreras exit allowed for Jamaica Broilers to return to the main market listing. Jetcon Corporation returns to the Junior Market list and Lasco Financial moves out of the TOP 10.
The week’s movement continue to be constrained by near term resistance levels which could be acting as short term restraint to a break out from current levels.
The average PE ratio for the Junior Market Top stocks is 7.5 and 6.8 in the main market, these compare favourably with 13.7 for the overall main market and 13.4 for Junior Market, based on 2017 estimated earnings. With several stocks trading below the average, the potential for more gains for the rest of 2017 seems positive, barring any major negative developments.
In the main market, decline in the prices of Seprod down to $30 and Sterling Investments to $15.50 moved them into the top list and replaced Berger Paints and Scotia Group that maintained their prices and are now some distance from the top list.
Recent TOP 10 listings that remain just below the top spots include Access Financial that hit a new record high close of $50 and Blue Power up to $55 at the close of the week.
Trading volume drops for Junior stocks
Junior Market stocks closed lower on Monday.
The Junior Market closed on Monday with reduced with 997,351 units valued $7,021,540 trading, compared to 5,891,343 units valued $15,986,987 on Friday. At the close 7 stocks advanced and 7 declined with 19 securities traded, compared to 20 on Friday. The market index declined 15.37 points to 3,317.28.
At the close of trading, 4 stocks having bids higher than their last sale prices and 3 closed with lower offers.
The Junior Market ended trading with an average of 89,906 units for an average value of $369,555 compared to 294,567 units for an average value of $799,349, on the previous trading day. The average volume and value for the month to date are 217,483 units valued at $1,055,012 compared with 281,272 units valued at $1,397,740, previously, In contrast, May closed with averages of 89,339 units and $596,722.
the close of the market, Blue Power lost $2 to close at $53 with 696 units changing hands, CAC 2000 rose 2 cents and closed at $7.22 with 4,640 shares trading, Cargo Handlers eased by 10 cents and closed at $17.90 with 1,063 shares trading, Caribbean Flavours traded 1,513 units to end at $12, Caribbean Producers traded 487,000 units at $3.50, Derrimon Trading rose 50 cents and ended at record close of $9.50 with 170,374 shares changing hands, Dolphin Cove fell 2 cents and ended at $19.98 with 983 shares being swapped, General Accident closed trading with 50,000 shares to end at $2.90, Honey Bun climbed by 56 cents with just 9,225 shares changing hands to close at $6.10, 
Teas closed trading with 2,200 shares, at $4.50. Jetcon Corporation ended at $14.88 with 110,950 shares trading, after adding 88 cents, Knutsford Express traded 81,774 shares and gained 89 cents, in closing at a record high of $16.89, Lasco Distributors lost 30 cents and ended trading 4,127 units at $7.20, Lasco Financial fell 25 cents, with 11,325 shares changing hands to end at $4.05, Lasco Manufacturing fell 23 cents closed at $4.85 in trading 37,127 shares. Main Event lost 10 cents and ended trading 10,531 shares at $6.90, Medical Disposables ended at $6 with 1,407 units crossing the exchange, Paramount Trading rose 3 cents and ended with 12,200 shares changing hands at $3.04 and tTech had just 216 units changing hands at $8 after gaining 49 cents.
Juniors recover sharply on Tuesday
Access jumped $6 to a new high of $50 on Tuesday ahead of release of record profits.
The Junior Market index jumped 60.41 points on Tuesday, 3,344.67 as 22 securities traded of which 10 advanced and only 4 declined as 2,377,774 units valued $14,077,973 traded compared to 903,666 units valued at $5,900,159 changing hands on Monday.
At the close of trading, 6 stocks having bids higher than their last sale prices and 2 with lower offers.
The Junior Market ended trading with an average of 108,081 units for an average value of $639,908 compared to 47,561 units for an average value of $310,535, on the previous trading day. The average volume and value for the month to date are 90,467 units and $607,211 while at the close of the prior trading day it was 89,667 units and $605,576, well below the levels for April with averages of 502,597 units and $2,768,003.
At the close of the market, Access Financial jumped $6 and closed at an all-time high of $50 with 2,500 units changing hands, AMG Packaging rose 19 cents and ended at $4.99 with 21,148 units changing hands, 
Caribbean Cream closed trading with 300 units to end at $8.40, after gaining 40 cents, Caribbean Flavours lost 5 cents in trading 2,700 units to end at $12, Caribbean Producers had 32,513 units changing hands and remained at $3.50, Consolidated Bakeries dropped 7 cents trading 19,500 shares to close at $2.45, Eppley had 19,015 units changing hands to close of $12, General Accident closed trading with 19,600 shares to end at $2.90, had 13,586 shares changing hands and closed at $7.50 after gaining 50 cents,ISP Finance ended at $28 with 343 units changing hands. Jamaican Teas rose 4 cents and closed trading with 234,436 shares, at $4.69. Jetcon Corporation dropped $1.40 to end at $13.40 with 11,900 shares trading, Key Insurance traded 2,415 units to close at $3.05 after rising 25 cents, 
Knutsford Express that will start trading with the 5 for 1 stock split on Wednesday, closed with 13,295 shares trading at $68. Lasco Distributors lost 14 cents and ended with 505,170 units trading at $6.96, Lasco Financial gained 35 cents to end with 63,888 shares changing hands at $4.40, Lasco Manufacturing rose 20 cents to close at $5.20 while trading 1,378,624 shares, Main Event ended trading of 9,107 shares at $7.20, Medical Disposables gained 15 cents and ended at $5.80 with 1,000 units trading, Paramount Trading ended with a rise of 50 cents as 17,234 shares changed hands at $3.30 and tTech had 8,700 units changing hands at $7.50 and Derrimon Trading preference share ended with 800 units changing hands to close at $2.20.
Berger & Scotia Group drop TOP 10
Image courtesy of suphakit73/FreeDigitalPhotos.net
The two main markets of the Jamaica Stock Exchange, pulled back this past week as the volatility in the price of some stocks resulted in shifts in the position of some stocks in the TOP 10. Movements were not enough to change the Junior Market list, even as Caribbean Producers saw a 25 percent fall during the week with heavy volume, the stock enjoyed partial recovery by weekend.
This week’s pull back, seems to support the comment last week, “that both markets are trading close to recent resistance levels which could act as a short term restraint on upward movement.”
In the main market, decline in the prices of Seprod down to $30 and Sterling Investments to $15.50 moved them into the top list and replaced Berger Paints and Scotia Group that maintained their prices and are now some distance from the top list.
The average PE ratio for the Junior Market Top stocks is 7.5 and 6.8 in the main market, these compare favourably with 13.7 for the main market and 13.4 for Juniors, based on 2017 estimated earnings. With several stocks trading below the average, the potential for more gains for the rest of 2017 seems positive, barring any major negative developments.
Recent TOP 10 listings remain just below the top spots with Access Financial, Jetcon Corporation, AMG Packaging, Dolphin Cove, Caribbean Cream and Blue Power sitting just below, with potential gains of more than 100 percent and in the main market, Grace Kennedy and Sagicor Group are just below the Top spots with good potential gains ahead.
The history of the Top stock performance indicates that, it takes a few months for most of the stocks to reach potential targeted prices as they tend not to be the stocks favoured by a large segment of investors, in the short term.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 44 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving several stocks with room for growth in the months ahead.
At the close of the week, bid volumes for junior market stocks remained relatively low ranging from a high of 66,436 units at $5.15 for Lasco Manufacturing with an offer of 16,685 units at $5.20, Access with a bid of 35,425 at $42.50, Caribbean Producers with 34,300 units on the bid at $3.50, with 100,000 shares on offer at $3.80. Key Insurance closed with 15,213 units on the bid at $2.90 and 51,361 offered at $3.80 and Lasco Financial ended the week with a bid of $4.05 to buy 24,000 units with 47,888 units being offered for sale at $4.40.
Seprod shares dropped from $45.10 in February to $30 on Friday.
Caribbean Cement had a bid to buy 54,903 units at $28.50 and offers of 7,850 shares at $29.95. Carreras had just 1,233 units on the bid at $77 with 4,954 shares being offered at $80, JMMB Group’s has bids to buy 8,272 units at $19.80 with an offer to sell 6,224 shares at $20, Radio Jamaica bid ended trading at $1.68 to buy 883 units with 30,000 units on offer at $1.79 while Scotia Investments closed the week with 14,753 units on the bid to buy at $36.50 and 14,049 units offered for sale at $37.85. Interest in Seprod has fallen with only 250 units on the bid at $29.50 and selling of 95,352 units at $30, this is way off from the 52 weeks’ high of $45 the stock sold at late February this year.
Junior index slips on Thursday
CPJ traded more than 3 million shares for the second consecutive day.
The Junior Market closed down on Thursday, with the index falling 10.30 points to end at 3,364.94 with 21 securities trading, compared to 26 on Wednesday. Eppley ordinary stock traded at an intraday all-time high of $12.50.
At the close of trading, 10 stocks advanced and 7 declined with 5,121,628 units valued at $19,594,786 changed hands, compared to 4,044,209 units valued at $14,886,455 on Wednesday. Trading ended with 8 stocks having bids higher than their last sale prices and 2 with lower offers.
The Junior Market ended trading with an average of 243,887 units for an average value of $933,085 compared to 155,547 units for an average value of $572,556, on the previous trading day. The average volume and value for the month to date are 90,541 units and $601,694, while at the close of the prior day it was 82,470 units and $582,200.
The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, Blue Power jumped $6.75 to end at $51.75 with 500 units changing hands, CAC 2000 ended with 44,509 shares changing hands, to close at $7.70 with a 40 cents rise, Caribbean Cream closed trading with 23,000 units to end at $8.40, Caribbean Flavours added 4 cents in trading 10,800 units to end at $12.05, Caribbean Producers had a second day, trading more three million shares, ending with 3,561,000 units changing hands compared to 3,100,200 on Wednesday, the price rose 20 cents to close at $3.20, Consolidated Bakeries fell 40 cents trading 203,000 shares to close at $2.40, Eppley had 32,197 units changing hands to close of $12, General Accident fell 9 cents and closed trading with 101,500 shares at $3, Honey Bun lost 2 cents with 8,295 shares changing hands at $7.23. ISP Finance dropped $1.50 and ended at $26.50 with 605 units changing hands. Jamaican Teas slipped 19 cents and closed trading with 729,183 shares, at $4.50. Jetcon Corporation lost 10 cents
and ended at $14.90 with 8,337 shares trading, KLE Group gained 5 cents and ended at $2.35 with 9,500 shares changing hands, Knutsford Express rose $2 and closed with 9,017 shares trading at $68. Lasco Distributors rose 10 cents and ended with 147,900 units trading at $7.10, Lasco Financial fell 20 cents and ended with 32,300 shares changing hands at $4, Lasco Manufacturing rose 1 cent to close at $5.65 while trading 7,750 shares, Main Event added 55 cents and ended trading of 22,697 shares at $7.75, Paramount Trading ended with a rise of 10 cents as 150,000 shares changed hands at $3.10, tTech had 14,538 units changing hands at $7.50 and Eppley 10% preference share traded 5,000 units at $6.50.
Juniors barely eked out record close
Dolphin Cove closed at a new high of $22 on Monday.
The Junior Market just eked out a record close on Monday, with the index edging higher by 0.58 points above the record on Wednesday last, as the overall index closed 29.26 points higher at 3,369.56.
At the close of trading 24 securities traded, compared to 20 on Friday as 10 advancing and 8 declined. Overall, 1,187,417 units valued at $9,868,439 changed hands, compared to 2,282,020 units valued at $12,200,612 on Friday. Trading ended with 6 stocks having bids higher than their last sale prices and 6 with lower offers.
The Junior Market ended trading with an average of 49,476 units for an average value of $411,185 compared to of 114,101 units for an average value of $610,031, on the previous trading day. The average volume and value for the month to date are 88,211 units and $582,803 while at the close of the prior day, 90,794 units and $594,244. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, 
AMG Packaging lost 5 cents to end at $4.95 with 47,458 units changing hands, CAC 2000 lost 20 cents with 24,400 shares changing hands, to close at $7.30, Caribbean Cream closed trading with 21,295 units to end with a loss of 9 cents to end at $8.40, Caribbean Producers rose 5 cents and ended at $3.90 with 100 shares trading, Consolidated Bakeries jumped 40 cents in trading 9,599 shares to close at $2.87, C2W Music had 200 units changing hands to close at 50 cents. Derrimon Trading ended at $8.50 with 78,366 shares changing hands, Dolphin Cove gained $1 to end at a record of $22 with 4,737 shares trading, Eppley ended with 451,928 units changing hands after rising $1.90 to end at a record close of $12, General Accident rose 5 cents and closed trading with 1,200 shares at $3.10, ISP Finance ended at $28 with 7,778 units changing hands. Jamaican Teas lost 10 cents and closed trading with 170,850 shares, at $4.60. 
Jetcon Corporation fell 5 cents and ended at $14.95 with 20,367 shares trading, KLE Group fell 40 cents and ended at $2.50 with 13,604 shares changing hands, Knutsford Express rose $2 and closed with 1,350 shares trading at $68. Lasco Distributorsgained 11 cents and ended with 70,900 units trading at $7.81, Lasco Financial rose 35 cents and ended with 21,904 shares changing hands at $4, Lasco Manufacturing lost 10 cents and closed at $5.15 while trading 47,207 shares, Main Event added 24 cents and ended trading of 3,550 shares at $7.49, Medical Disposables ended at $5.85 with a gain of 10 cents while trading 8,676 units,Paramount Trading ended with 158,000 shares changing hands at $3.05, tTech ended with 9,454 units changing hands at $7.50 and Eppley 9.5% preference share traded 1,500 units at $6.15.
Pulse & ISP exit TOP 10 with big gains
I$P Finance hits a new high of $35 on Wednesday up 1,650% since listing last year March.
The Jamaica Stock Exchange, two main markets hit new highs on several days over the past two weeks, with new records created during this past week as well. Both markets are trading close to recent resistance levels which could act as a short term restraint on upward movement.
With the average PE ratio of the markets trading around 13 based on 2017 estimated earnings and several stocks trading below, it just a matter of time for prices and the markets to move higher.
Recent market activity has been characterized by some sizable swings in prices for a number of stocks, these movements have pushed some stocks in and out of the top list. Most companies released results for the 2017 first quarter, in some cases IC Insider.com has revised the earnings based on the latest information contained in the results.
Earnings have been up graded for Caribbean Producers to 60 cents, for the 2018 fiscal year, based on the nine months’ performance to March, with the March quarter results pointing the way forward with an 8 percent increase in revenues and lower selling and administrative cost. 
In the main market, Berger Paints’ 2018 fiscal year earnings per share was up graded to $2, based on a strong finish to the 2017 results. Pulse Investments announcement of a 2 for 1 stock split to be considered by the board subject to approval at a meeting of shareholders, helped push the price up to $14.40 from $8.05 and out of the Top list after entering in November last year at $4. Jetcon Corporation entered at $6.09 on January 6 and is now at $15 and out of the top listing. Main Event entered at $2 and is now at $7.25 and ISP Finance entered at $8.50 and last traded at $28.
Recent TOP 10 listings remain just below the top spots with Access Financial, Jetcon, AMG Packaging, Dolphin Cove, Caribbean Cream and Blue Power sitting just below, with potential gains of more than 100 percent and in the main market, Grace Kennedy and Sagicor Group are just below the
Top spots with good potential gains ahead.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks continue to trade at an average discount of 43 percent to the Junior Market average, those in the main market are trading at a 49 percent discount, to the average of the market, leaving several stocks with room for growth for the rest of the year.
The history of the performance of the TOP STOCKS indicates that in most cases, it takes a few months for the stocks to reach potential targeted prices unless there are extraordinary developments such as stock splits.
Juniors retreat in resistance zone
Junior Market stocks closed lower on Thursday.
The Junior Market of the Jamaica Stock Exchange broke the record run on Thursday by falling 42.14 points to close at 3,326.84. Trading levels were slightly above Wednesday’s, with both volume and values being higher.
At the close of the market, the number of securities trading, ended at 24 compared to 22 on Wednesday with 6 advancing and 9 declining. Overall, 2,279,741 units valued at $11,894,079 changed hands, compared to 1,425,514 units valued at $10,043,460 on Wednesday. Trading ended with 8 stocks having bids higher than their last sale prices and 1 with a lower offer.
The Junior Market ended trading with an average of 94,989 units for an average value of $495,587, compared to of 64,796 units for an average value of $456,521, on the previous trading day.
The average volume and value for the month to date are 89,129 units and $593,116 while at the close of the prior day, 88,678 units and $600,619. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, AMG Packaging lost 15 cents and ended at $5 with 9,307 units changing hands, Blue Power jumped $6 to close at $45 with 1,000 units changing hands, CAC 2000 had 2,700 shares changing hands, to close with a rise of 20 cents at $7.50, Caribbean Cream closed trading with 2,200 units and gained $1.19 to end at $8.49, Cargo Handlers ended trading with 4,850 shares changing hands at $20, Caribbean Flavours fell $1.54 in trading 20,517 shares at $12.01, Caribbean Producers ended at $3.85 with 1,300,064 shares trading, C2W Music had 5,501 units changing hands to close at 45 cents, Consolidated Bakeries lost 3 cents in trading 60,000 shares to close at $2.47, Derrimon Trading ended at $8.50 with 9,762 shares changing hands, General Accident closed trading with 7,315 shares at $3.05, Honey Bun ended with a loss of 20 cents as 14,564 shares changed hands at $7.80, ISP Finance shed $5 to end $30 with 6,230 units changing hands. 
Jamaican Teasfell 25 cents and closed trading with 56,292 shares, at $4.70. Jetcon Corporation ended at $15 with 176,803 shares trading, KLE Group rose 25 cents and ended at $3 with 1,000 shares changing hands, Knutsford Express closed with 980 shares trading at $68. Lasco Distributors ended with 1,620 units trading with a rise of 70 cents to $7.70, Lasco Financial fell 65 cents and ended with 51,310 shares changing hands at $4.25, Lasco Manufacturing closed at $5.25 while trading 67,904, shares, Main Event ended trading of 217,826 shares at $6.85, Medical Disposables lost 10 cents and ended at $5.70 with 32,900 units trading,Paramount Trading rose 7 cents and ended with 219,523 shares changing hands at $3.05 and tTech ended with 9,573 units changing hands at $7.45 after falling 5 cents.
Another record close for Juniors -Wednesday
I$P Finance hits a new high of $35 on Wednesday up 1,650% since listing last year March.
The Junior Market of the Jamaica Stock Exchange logged another record close on Wednesday but with a modest rise of just 9.84 points to a record close of 3,368.98 with gains of 29.9 percent for 2017 to date. Trading levels were down sharply again compared to Tuesday’s levels.
At the close of the market, the number of securities trading, ended at 22 compared to 23 on Tuesday with 7 advancing and 10 declining. Overall, 1,425,514 units valued at $10,043,460 changed hands, compared to 3,285,925 units valued at $19,269,876 on Tuesday. Trading ended with 7 stocks having bids higher than their last sale prices and 6 with lower offers. Just one stocks ended trading at new closing high at the end of trading.
The Junior Market ended trading with an average of 64,796 units for an average value of $456,521, compared to 142,866 units for an average value of $837,821, on the previous trading day.
The average volume and value for the month to date are 88,678 units and $600,619 while at the close of the prior day, 90,668 units and $612,627. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, AMG Packaging ended at $5.15 with 20,440 units changing hands, CAC 2000 had 7,000 changing hands, to close with a rise of 30 cents at $7.30, Cargo Handlers ended trading with 7,140 shares changing hands at $20, Caribbean Flavours jumped $2.55 in trading 2,000 shares at $13.55, Caribbean Producers lost 15 cents and ended at $3.85 with 133,000, shares trading, C2W Music had 11,819 units changing hands to close at 45 cents, Derrimon Trading climbed $1 and ended at $8.50 with 25,238 shares changing hands, General Accident fell 4 cents and closed trading with 224,750 shares at $3.05, Honey Bun ended with 182,930 shares changing hands at $8, after rising 25 cents, Iron Rock Insurance traded 10,000 shares to end at $3.15, after falling by 25 cents, ISP Finance climbed $5 to end at fresh new high of $35 with 28,000 units changing hands, the stock was offered at $30 at the close to sell 25,000 units. 
Jamaican Teasclosed trading with 23,550 shares, at $4.95. Jetcon Corporation ended at $15 with 66,619 shares trading, Key Insurance traded 60,624 units to close at $2.80 after falling 25 cents, KLE Group rose 5 cents and ended at $2.75 with 3,000 shares changing hands, Knutsford Express jumped $2.95 and closed with 14,922 shares trading at $68. Lasco Distributors ended with 205,484 units trading with a fall of 49 cents at $7, Lasco Financial fell 10 cents and ended with 16,326 shares changing hands at $4.90, Lasco Manufacturing fell 55 cents and closed at $5.25 while trading 93,330, shares, Main Event lost 15 cents and ended trading 63,583 shares at $6.85, Medical Disposables lost 20 cents and ended at $5.80 with 147,855 units trading,Paramount Trading lost 27 cents and ended with 77,904 shares changing hands at $2.98, after trading at a low for the day of $2.50.