Trading activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded dipping 16 percent but with the value 184 percent greater than on Wednesday, following trading in 56 securities compared with 59 on Wednesday, with 22 rising, 23 declining and 11 ending unchanged.
A total of 15,739,565 shares were traded for $290,871,744 compared to 18,751,692 units at $102,393,251 on Wednesday.
Trading averaged 281,064 shares at $5,194,138 versus 317,825 shares at $1,735,479 on Wednesday and month to date, an average of 584,813 units at $2,510,650, compared to 644,082 units at $1,987,042 on the previous day. July closed with an average of 283,368 units at $2,135,482.
Sagicor Select Financial Fund led trading with 3.34 million shares for 21.2 percent of total volume, followed by NCB Financial with 3.24 million units for 20.6 percent of the day’s trade as Stanley Motta ended with 2.04 million units for 12.9 percent market share, Wigton Windfarm closed with 1.83 million units for 11.6 percent market share and Transjamaican Highway with 1.25 million units for 7.9 percent of total volume.
The All Jamaican Composite Index slipped 201.95 points to finish at 356,569.64, the JSE Main Index shed 2,566.81 points to 323,526.73 and the JSE Financial Index fell 0.90 points to end trading at 71.43.
The PE Ratio, a formula used to compute appropriate stock values, averages 13 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
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 rose 60 cents and ended at $75.05 after closing with an exchange of 112,578 shares, Caribbean Cement rallied 80 cents to $52 with 27,619 stocks changing hands, Eppley Caribbean Property Fund popped $2.93 to close at $41.94 in switching ownership of 721 units. First Rock Real Estate climbed 50 cents to end at $9.50, with 600 stock units clearing the market, 
GraceKennedy fell $1.48 in closing at $76.02 while 182,784 stocks passed through the market, Jamaica Producers advanced 95 cents in closing at $20.15 after an exchange of 2,032 stock units. Jamaica Stock Exchange dropped $1 to close at $10 in an exchange of 334,799 shares, Margaritaville increased 79 cents to $16.59, with 1,000 units crossing the market, Massy Holdings gained $2.01 to end at $103 after investors exchanged 1,549 units. Mayberry Investments lost 40 cents and ended at $8.30, with 9,296 stocks crossing the market, NCB Financial dropped $4.11 to end at $69.99 after the price hit an intraday 52 weeks’ low of $52 with shareholders swapping 3,241,324 stock units, 138 Student Living advanced 40 cents in closing at $4.51 in trading 32 shares. Pan Jamaica declined 50 cents and ended at $46 in an exchange of 5,984 units, Sagicor Group shed 50 cents to close at $44.50, with stakeholders exchanging 17,585 shares, Seprod dropped 50 cents to close at $70 while trading 11,984 stocks. 
Supreme Ventures rose $1.18 and ended at $28.79 with a transfer of 692 stock units and Sygnus Credit Investments dipped 59 cents to close at $11.50, with 1,809 stock units changing hands.
In the preference segment, Eppley 7.25% preference share fell 50 cents in closing at $18 after a transfer of 28,872 shares and Jamaica Public Service 7% shed $1 to end at $54, trading one unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs on the JSE Main Market
Trading activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 14 percent, with an 86 percent higher value than Tuesday, after investors traded in 59 securities, the same number as they did on Tuesday, with the market closing with prices of 19 rising, 23 declining and 17 ending unchanged.
Some 18,751,692 shares were traded at $102,393,251 versus 16,406,460 units at $54,958,585 on Tuesday.
Trading averaged 317,825 shares at $1,735,479 compared to 278,076 units at $931,501 on Tuesday and month to date, an average of 644,082 units at $1,987,042, compared with 728,508 units at $2,052,140 on the previous day. July closed with an average of 283,368 units at $2,135,482.
JMMB Group 7.35% – 2028 led trading with 5.21 million shares for 27.8 percent of total volume, followed by Transjamaican Highway with 3.49 million units for 18.6 percent of the day’s trade, Wigton Windfarm ended with 2.44 million units for 13 percent market share, Transjamaican Highway 8% with 2.42 million units for 12.9 percent market share and Stanley Motta with 1.41 million units for 7.5 percent of total volume.
The All Jamaican Composite Index dropped 1,551.91 points to 360,195.26, the JSE Main Index dipped 647.92 points to 326,093.54 and the JSE Financial Index slipped 0.19 points to end at 72.33.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and eight with lower offers.
At the close, Barita Investments declined $1.86 to close at $74.45 in trading 21,438 shares, Caribbean Cement dropped $5 to $51.20 in an exchange of 247,131 stock units, Eppley Caribbean Property Fund lost $2.94 in closing at $39.01 with shareholders swapping 3,565 stock units. Guardian Holdings dipped $12 to end at $440, with just one unit crossing the market, Jamaica Broilers fell $1.45 and ended at $32.55 as 98,395 stocks passed through the market, Jamaica Stock Exchange shed 49 cents and ended at $11 in switching ownership of 105,985 shares. JMMB Group climbed 50 cents to end at $28, with stakeholders exchanging 5,405 units,
Key Insurance advanced 38 cents to $2.89 and closed at 17,231 stock units, Massy Holdings gained 99 cents in closing at $100.99, with 3,159 stocks crossing the market. NCB Financial shed 35 cents to close at $74.10 after 63,410 units passed through the exchange, 138 Student Living dipped 54 cents to $4.11 in an exchange of 17,629 stock units, Pan Jamaica lost 55 cents to close at $46.50, with 5,656 shares changing hand. Proven Investments rose 64 cents in closing at $22.05 with investors transferring 6,769 stocks, Sagicor Group popped 50 cents and ended at $45 with a transfer of 41,613 stock units, Seprod rallied 50 cents to end at $70.50 after a transfer of 17,282 shares. Supreme Ventures declined $1.84 to close at $27.61 in trading 127,714 units and Wisynco Group increased 50 cents to end at $17.50 with 180,211 stock units clearing the market.
In the preference segment, Productive Business Solutions 9.75% preference share dropped $2.95 to $100 after an exchange of 128 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Margaritaville tops ICTOP10
Margaritaville was the top performing ICTOP10 stock after jumping 30 percent during the week to close at 11.35 US cents in the first week on the TOP10. That was the only notable gainer in the Main Market list, although JMMB Group added 5 percent to close at $28.55.
Margaritaville, located in the Turks & Caicos Islands
The Junior Market’s Iron Rock Insurance jumped 15 percent to $2.41, followed by a 12 percent rise in the price of Everything Fresh to $1.53, with General Accident adding just 4 per cent to close at $4.90.
The Main Market had a 14 percent fall in Key Insurance to $2.51, followed by 8 percent in 138 Student Living, ending at $4.28. The Junior Market’s Caribbean Assurance Brokers fell 13 percent to $2.60 and Edufocal was down 8 percent to $1.66. The week closed with no new additions to the ICTOP10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 326 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.8 compared with the market at 10.9. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 40, averaging 20, that is well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 248 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
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 2024 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 drops on the JSE Main Market
Trading activity on the Jamaica Stock Exchange Main Market ended on Friday, with the volume of stocks traded declining 91 percent and the value 52 percent lower than on Thursday, with trading in 55 securities compared with 58 on Thursday, which resulted in prices of 18 rising, 23 declining and 14 ending unchanged.
A total of 10,893,836 shares were traded for $112,685,985 compared to 124,688,141 units at $235,501,470 on Thursday.
Trading averaged 198,070 shares at $2,048,836 versus 2,149,796 units at $4,060,370 on Thursday and month to date, an average of 885,759 units at $2,443,369, compared with 1,217,539 units at $2,633,714 on the previous day. July closed with an average of 283,368 units at $2,135,482.
JMMB Group 7.35% – 2028 led trading with 4.71 million shares for 43.3 percent of total volume, followed by Transjamaican Highway with 2.16 million units for 19.8 percent of the day’s trade and Wigton Windfarm with 548,303 units for 5 percent market share.
The All Jamaican Composite Index rose 519.86 points to 361,593.66, the JSE Main Index shed 437.40 points to finish at 326,087.84 and the JSE Financial Index rose 0.47 points to 72.65.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.1 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement dropped $1.16 to $55.19, with trading in 522,545 shares, Caribbean Producers fell 59 cents to end at $10.50 after a transfer of 79,558 units, Eppley shed $1 in closing at $33 with an exchange of 702 stock units, Eppley Caribbean Property Fund declined $1.50 to $40, after 3,996 stock units crossed the market. GraceKennedy climbed $1 to end at $77 while exchanging 117,803 shares, Guardian Holdings increased $39.99 to close at $439.99 with shareholders swapping 167 stocks, JMMB Group gained 55 cents in closing at $28.55 with 7,278 units clearing the market,
Kingston Properties lost 62 cents to end at $6.88 after an exchange of 3,291 units. Kingston Wharves rallied $1.35 to $28.92 in exchanging three stocks, Margaritaville dipped 75 cents and ended at $15.76 in trading 16 units, Massy Holdings lost 99 cents in closing at $100 in switching ownership of 16,956 shares, MPC Caribbean Clean Energy shed $1.99 to end at $80 after 2 stocks passed through the market. Palace Amusement dropped 37 cents to $2, with 36,842 units changing hands, Sagicor Group rose 99 cents and ended at $45 in trading 8,082 shares, Scotia Group fell 40 cents to close at $34.10 as investors exchanged 358,224 stocks, Stanley Motta popped 58 cents and ended at $4.90 in an exchange of 2,019 stock units. 
Supreme Ventures declined 61 cents to end at $28.99 after 215,513 stock units changed hands and Wisynco Group dipped 96 cents in closing at $17.02 stakeholders trading 61,352 stocks.
In the preference segment, Jamaica Public Service 7% advanced $7.52 to $69 with a transfer of 817 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated
Main Market suffers a big loss on Thursday
After two days of gains, Main Market stocks gave back a great deal at the close of trading activity on the Jamaica Stock Exchange on Thursday, with a big 784 percent jump in the volume of stocks traded, with the value surging 264 percent more than on Wednesday, after trading took place in 58 securities compared with 56 on Wednesday, as prices of 31 stocks declined with 17 rising and 10 ending unchanged.
A total of 124,688,141 shares were exchanged for $235,501,470 compared with 14,111,309 units at $64,741,889 on Wednesday.
Trading averaged 2,149,796 shares at $4,060,370 up from 251,988 units at $1,156,105 on Wednesday and month to date, an average of 1,217,539 stocks at $2,633,714, compared with July, that closed with an average of 283,368 units at $2,135,482
Transjamaican Highway 8% led trading with 113.10 million shares for 90.7 percent of total volume, followed by Wigton Windfarm with 2.31 million units for 1.9 percent of the day’s trade. Mayberry Investments ended with 2.0 million units for 1.6 percent market share, Pulse Investments came in with 1.84 million units for 1.5 percent market share and Transjamaican Highway with 1.63 million units for 1.3 percent of total volume.
The All Jamaican Composite Index lost 4,924.76 points to finish at 361,073.80, the JSE Main Index dropped 2,534.77 points to 326,525.24 and the JSE Financial Index slipped 1.53 points to 72.18.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.2 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 10 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments declined 50 cents to $76.20 and closed with an exchange of 93,908 shares, Berger Paints dropped 30 cents to close at $7.64, with 2,039 stock units crossing the market, Eppley dipped $1 and ended at $34 with an exchange of 1,000 units, Eppley Caribbean Property Fund increased $1.50 to end at $41.50 after an exchange of 3 stocks, First Rock Real Estate fell 91 cents in closing at $9.11 with investors transferring 6,000 shares. GraceKennedy shed $1.50 in closing at $76 after exchanging 66,220 stock units, Guardian Holdings lost $38 in ending at $400, with 79 units crossing the market, Jamaica Producers dropped 94 cents to $19.21 as investors exchanged 5,620 stocks, Jamaica Stock Exchange lost $1.64 to close at $10.23 in trading 9,646 units. 
Key Insurance declined 41 cents to end at $2.51 with 277 shares clearing the market, Massy Holdings climbed $3.48 to $100.99 with an exchange of 20 stocks, MPC Caribbean Clean Energy rallied $3.67 to close at $81.99 with shareholders swapping a mere one stock unit, NCB Financial rose $1.89 ended at $74.99 in an exchange of 100,400 units. 138 Student Living shed 54 cents to end at $4.11 after trading in 2,451 shares, Palace Amusement advanced 37 cents in closing at $2.37 in an exchange of 21,587 stock units, Pan Jamaica fell $1 in closing at $48 in switching ownership of 2,453 stocks, Proven Investments dipped 75 cents to end at $22.50 after 3,933 shares passed through the market. Sagicor Group fell $4.94 to 52 weeks’ low of $44.01 while exchanging 10,647 stock units, Seprod lost $1.30 in ending at $70, with 20,904 units changing hands, Stanley Motta dropped 58 cents to close at $4.32 with a transfer of 2,000 stocks, Supreme Ventures gained $1.60 in closing at $29.60, with 173,372 units crossing the exchange and Sygnus Real Estate Finance popped 80 cents to close at $11 after a transfer of 73 shares.
In the preference segment, Eppley 7.50% preference share shed 61 cents to end at $6 after a transfer of 200 stock units, Jamaica Public Service 7% advanced $11.48 and ended at $61.48, with 16 stocks changing hands, Productive Business Solutions 9.75% preference share popped $2.50 in closing at $101.50 after an exchange of 49 units, Productive Business 10.50% preference share dropped $55 to $1,100 with investors transferring 223 stocks and Transjamaican Highway 8% dipped 37 cents to $1.48 in an exchange of 113,099,641 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market stocks climb for second day
Stocks mostly climbed for a second day, following the big sell off on Friday on the Jamaica Stock Exchange Main Market with trading in 56 stocks similar to Monday and ending with prices of 27 rising, 19 declining and ten ending unchanged, with a 37 percent rise in the volume of stocks changing hands valued 24 percent less than on Monday.
A total of 14,111,309 shares were traded for $64,741,889 compared with 10,267,719 units at $85,148,440 on Monday.
Trading for the day averaged 251,988 shares at $1,156,105 compared to 183,352 shares at $1,520,508 on Monday compared with July that averaged 283,368 units at $2,135,482.
Sagicor Select Financial Fund led trading with 6.06 million shares for 42.9 percent of total volume, Wigton Windfarm followed with 2.13 million units for 15.1 percent of trading, Transjamaican Highway chipped in with 1.67 million units for 11.8 percent of market share and Radio Jamaica with 1.13 million units for 8 percent of total volume.
The All Jamaican Composite Index rose 809.52 points to conclude trading at 365,998.56, the JSE Main Index jumped 2,654.62 points to 329,060.01 and the JSE Financial Index climbed 1.51 points to close at 73.71.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.3 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and 11 with lower offers.
At the close, Barita Investments rallied $2.71 to $76.70 in an exchange of 89,905 shares, First Rock Real Estate popped $1.02 to close at $10.02 with a transfer of 3,849 units, Guardian Holdings climbed $42 in closing at $438, with 23 stocks crossing the market, Jamaica Stock Exchange gained 42 cents and ended at $11.87 after an exchange of 3,680 stock units. JMMB Group fell 80 cents to $28 in trading 16,961 shares, Kingston Properties shed 30 cents to end at $7.50 after a transfer of 11,714 stock units, Margaritaville advanced $2.46 and ended at $16.51 after exchanging 48,828 units, Mayberry Jamaican Equities declined 33 cents to $11.51 as investors traded 6,500 stocks. 
NCB Financial dipped 89 cents to $73.10 as 275,809 stocks were exchanged, Palace Amusement lost 40 cents in closing at $2 with investors exchanging 45,050 units, Portland JSX increased $1.29 in closing at $10.79, with 19 shares clearing the market, Proven Investments rose $1.84 and ended at $23.25, with stakeholders trading 124 stock units. Pulse Investments gained 32 cents to close at $2.50, with 50,000 units crossing the market, Sagicor Group popped $1.95 to end at $48.95 with an exchange of 571 stock units, Seprod dropped $2.70 to close at $71.30 after the exchange of 4,621 stocks and Sygnus Credit Investments rose 77 cents in closing at $11.98 with shareholders swapping 1,667 shares.
In the preference segment, Jamaica Public Service 7% declined $2.02 to end at $50 in switching ownership of 988 stock units, JMMB Group 7.25% preference share fell 34 cents to $2.15 while exchanging 206,422 units, 
138 Student Living preference share advanced $1.98 to close at $99.98 in an exchange of 9 stocks, Productive Business 10.50% preference share increased $5 and ended at $1,155, with 100 shares changing hands and Productive Business Solutions 9.75% preference share dropped $2.50 to end at $99 after the trading of 191 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Market indices climb on Monday
Trading activity on the Jamaica Stock Exchange Main Market ended on Monday, with the volume of stocks traded marginally higher than Friday, but with a 29 percent lower value and ended with trading in 56 securities compared with 54 on Friday, with 24 rising, 22 declining and ten ending unchanged.
A total of 10,267,719 shares were exchanged at $85,148,440 versus 10,233,836 units at $120,089,926 on Friday.
Trading averaged 183,352 shares at $1,520,508 compared to 189,515 units at $2,223,888 on Friday and month to date, an average of 283,368 units at $2,135,482, compared with 288,414 shares at $2,166,508 on the previous day. June closed with an average of 366,795 units at $6,952,581, including trading in bonds.
Transjamaican Highway led trading with 2.11 million shares for 20.5 percent of total volume, Wigton Windfarm followed with 1.75 million units for 17.1 percent of the day’s trade, JMMB Group 7.35% due 2028 with 1.67 million units for 16.3 percent market share and Sagicor Select Financial Fund with 1.50 million units for 14.6 percent of total volume.
The All Jamaican Composite Index popped 5,102.37 points to close at 365,189.04, the JSE Main Index rose 1,135.31 points to end at 326,405.39 and the JSE Financial Index climbed 0.62 points to 72.20.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.1 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments declined 56 cents in closing at $73.99 after an exchange of 31,852 shares, Berger Paints rose 34 cents to $7.94, with 1,100 stock units crossing the market, First Rock Real Estate fell $1.04 to $9 in trading 68 units, GraceKennedy lost 50 cents to close at $77.50 in switching ownership of 46,418 stocks, Guardian Holdings shed $42 to end at $396 with shareholders swapping 249 stock units, Jamaica Producers advanced $1.09 to $20.19 with an exchange of 1,950 units, Jamaica Stock Exchang rallied $1.15 in closing at $11.45 after an exchange of 85,356 shares, JMMB Group popped $1.60 to end at $28.80, with 59,905 stocks crossing the exchange, 
Kingston Properties rose 33 cents to close at $7.80 as 158,341 stocks passed through the market, Massy Holdings dipped $3.49 to $97.51 with investors transferring 5,021 units, Mayberry Investments gained 63 cents to end at $8.69 in an exchange of 1,338 shares, NCB Financial climbed 54 cents in closing at $73.99 with 84,828 stock units crossing the market, Proven Investments dropped $1.84 to close at $21.41 after a transfer of 41,611 shares, Sagicor Group advanced $3 to $47 with stakeholders exchanging 756,240 stock units, Scotia Group popped 48 cents to $34.50 after exchanging 36,861 units, Seprod gained $3 to close at $74, with 63,006 stocks clearing the market, Stanley Motta rose 38 cents to end at $4.89 after an exchange of 34,276 shares and Sygnus Credit Investments shed 91 cents to end at $11.21 as investors exchanged 131,154 stock units.
In the preference segment, Productive Business 10.50% preference share dropped $100 to $1,150 in trading 5 stocks, Jamaica Public Service 7% lost $9.18 and ended at $52.02 while exchanging 2,119 units, JMMB Group 7% preference share dipped 34 cents to close at $1.94, with 20,756 units changing hands and 138 Student Living preference share dropped $2 to $98 with a transfer of 50 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Solid gains for ICTOP10 stocks
Junior Market stocks put in an outstanding performance ranging from 13 to 38 percent, with declines being far lower, with the top losers suffering a ten percent fall after five stocks slipped on the ICOP10 and three stocks recorded strong gains. The Main Market TOP10 was far less robust, with gainers hitting 13 percent at the top and losers 6 percent and less.
Margaritaville Turks could land big gains.
With the healthy price movements, three new additions to the TOP10 lists are added this week. Margaritaville is now topping the Main Market Top 10, with potential gains of 820 percent as the company made a major leap forward in fortunes, following the rebound in tourism traffic in the region and Caribbean Producers fell out of the TOP10 with a 4 percent price rise for the week. Image Plus Consultants and Iron Rock Insurance return to the Junior Market ICTOP10 as Dolla Financial and Elite Diagnostics enjoyed considerable price recoveries and dropped out.
For the week, five Junior Market TOP10 stocks rose and five declined, while the Main Market ended with four rising and only two falling.
In the Junior Market, Dolla Financial was the star performer as it recovered from a 9 percent drop last to $2.08 to post a stunning 38 percent jump to $2.88, following news that Supreme Ventures acquired 15 percent of the company, but before a report that the CEO Kadeen Mairs resigned. Elite Diagnostics jumped 29 percent to $2 after falling the previous week to $1.55 and Dolphin Cove rose 13 percent to $16.88, also rising are iCreate and OneonOne, with gains of 5 percent to $1.05, respectively. Falling stocks include Everything Fresh, down 10 percent to $1.37, Caribbean Cream, followed by shedding 8 percent to $4.15, General Accident, fell 6 percent to $4.70 and Caribbean Assurance Brokers, lost 4 percent to end at $2.99.
In the Main Market, Caribbean Cement climbed 13 percent to $57.60, but that was before the company released six months’ results, with profit ending at $2.87 following a blowout second quarter with earnings of $2.53 per share and now seems on target for $8 for the year. Sygnus Credit Investments rose nine percent to $12.12, but JMMB Group fell six percent to $27.20 and Guardian Holdings slipped 4 percent to $438.
Elsewhere in the market, Lasco Distributors and Lasco Manufacturing released first quarter results, with a rise in profits for both. Pretax profit at Lasco Distributors jumped a robust 57 percent to $602 million and post-tax climbed a solid 38 percent to $448 million and resulted in ICInsider.com upgrading earnings for the full year to 65 cents from 55 cents previously. Lasco Manufacturing’s performance was more subdued, with pretax profit rising 28 percent and aftertax 27 percent to $721 million and $526 million, respectively and are in line with ICInsider.com’s full year’s forecast of 70 cents per share. Both companies are just outside the ICTOP10 but are ICBUYRATED with good upside potential.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 326 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 95, with an average of 30 and 21 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.8 compared with the market at 11. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 39, averaging 20, well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 248 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
Investors continue to nibble away at a number of stocks and gradually reducing the supply of several of them that are attractively priced as the market moves through the summer months, the start of the stock market year when new results will be coming to the market for investors to assess and determine what to do.
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 2024 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.
JSE Main Market drops thousands of points
The Main Market of the Jamaica Stock Exchange suffered big losses in the market indices on Friday, following trading in 54securities compared with 57 on Thursday, with prices of 15 rising, 17 falling and 22 ending unchanged following a 37 percent decline in the volume of stocks traded with the value dropping 13 percent below trading on Thursday.
Trading ended with 10,233,836 shares being exchanged for $120,089,926 compared with 16,120,424 units at $137,525,796 on Thursday.
Trading averaged 189,515 shares at $2,223,888 versus 282,814 units at $2,412,733 on Thursday. Trading for the month to date averages 288,414 units at $2,166,508, compared with 293,471 units at $2,163,573 on the previous day. Trading in June closed with an average of 366,795 units at $6,952,581, that includes trading in bonds.
Wigton Windfarm led trading with 3.19 million shares for 31.2 percent of total volume, followed by Kingston Wharves with 2.81 million units for 27.5 percent of the day’s trade and Transjamaican Highway with 1.45 million units for 14.2 percent of the day’s trade.
The All Jamaican Composite Index shed 5,604.07 points to end at 360,086.67, the JSE Main Index declined 3,607.52 points to 325,270.08, and the JSE Financial Index lost 0.56 points to finish at 71.58.
The PE Ratio, a formula used to compute appropriate stock values, averages 13 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
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, Caribbean Producers added 78 cents in closing at $11.18 with investors swapping 28,762 shares, First Rock Real Estate climbed 54 cents to end at $10.04 with 3,205 stock units crossing the market, JMMB Group fell 80 cents to $27.20, with 167,745 units changing hands, Kingston Properties rallied 70 cents to close at $7.47 after 19,770 stocks were traded. Kingston Wharves declined $2.45 and ended at $27.55 with a transfer of 2,809,594 units, Margaritaville shed 90 cents to close at $13.90 with 2,802 stock units clearing the market, Mayberry Investments dipped 74 cents to end at $8.06 with stakeholders exchanging 7,661 shares,
NCB Financial dropped $1.54 to $73.45 in an exchange of 168,783 stocks. Palace Amusement gained 30 cents in closing at $2.35 in trading 28,924 stock units, Pulse Investments lost 50 cents and ended at $2.15 in switching ownership of 366,046 stocks, Supreme Ventures dipped $1.27 in closing at $27.83 after 42,691 shares passed through the market and Sygnus Real Estate Finance lost $1.90 in ending at $10.10 while exchanging 10,825 units.
In the preference segment, Jamaica Public Service 7% jumped $9 to end at $61.20 with an exchange of 20 units, Jamaica Public Service 9.5% popped $200 to $3,100 and closed after an exchange of 13 stocks, JMMB Group 7.25% preference share shed 44 cents to close at $2.49 after investors exchanged 599 stock units, 
138 Student Living preference share rose $22 to $100 as investors traded one share and Transjamaican Highway 8% declined 40 cents in closing at $2 with a transfer of 78,265 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Solid gains for JSE Main Market
The Jamaica Stock Exchange Main Market ended with gains in the major market indices rising on Thursday, following a solid 167 percent rise in the volume of stocks traded with a 65 percent jump in value over trading on Wednesday, with trading in 57 securities compared with 51 on Wednesday, and ended with the prices of 19 rising, 27 declining, and 11 ending unchanged.
A total of 16,120,424 shares were traded for $137,525,796 compared to 6,033,114 units at $83,588,030 on Wednesday.
Trading averaged 282,814 shares at $2,412,733 compared with 118,296 stocks at $1,638,981 on Wednesday and month to date, an average of 293,471 units at $2,163,573 compared with 294,080 units at $2,149,357 on the previous day. Trading in June averaged 366,795 units at $6,952,581, including trading in bonds.
Stanley Motta led trading with 5.44 million shares for 33.8 percent of total volume, followed by Sygnus Real Estate Finance with 3.02 million units for 18.7 percent of the day’s trade, JMMB Group 7.35% – 2028 ended with 1.82 million units for 11.3 percent market share, Transjamaican Highway chipped in with 1.48 million units for 9.2 percent of the market trades and Wigton Windfarm with 1.15 million units for 7.1 percent of total volume.
The All Jamaican Composite Index popped 2,392.06 points to 365,690.74, the JSE Main Index gained 2,674.68 points to close at 328,877.60 and the JSE Financial Index rose 0.19 points to settle at 72.14.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.1 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for financial years ending up to August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints declined 37 cents in closing at $7.60 with a transfer of 121 shares, Caribbean Producers shed 60 cents to close at $10.40 with shareholders swapping 16,046 stocks, First Rock Real Estate lost 58 cents to end at $9.50 with an exchange of 101 stock units, Guardian Holdings dropped $2 to $438. with investors trading 22 units. Jamaica Broilers gained 45 cents in ending at $34.75 after a transfer of 695 shares, 
Jamaica Producers dipped $1.41 to $19.08 in an exchange of 261,531 stock units, Kingston Properties fell 72 cents to close at $6.77 with stakeholders exchanging 5,150 units, Margaritaville rose 80 cents to $14.80 after an exchange of 3,944 stocks, Massy Holdings popped $2.45 and ended at $101 with 15 units clearing the market, Mayberry Investments climbed 78 cents to $8.80 after exchanging 67 shares, Palace Amusement shed 40 cents ended at $2.05 and closed with an exchange of 15,238 stocks, Proven Investments increased 70 cents to end at $23.25 as investors exchanged 106 stock units. Sagicor Group lost $1 to close at a 52 weeks’ low of $44 with investors transferring 283,656 stocks, Seprod dipped $2.50 to close at $71 with investors trading 974 units and Supreme Ventures advanced 60 cents in closing at $29.10, as 100,722 stock units passed through the market.
In the preference segment, Productive Business 10.50% preference share rallied $150 and ended at $1,250 while exchanging 900 shares, Jamaica Public Service 9.5% increased $97 to $2,900 in an exchange of one unit 
138 Student Living preference share fell $9.24 in closing at $78, with 192 shares crossing the exchange, Productive Business Solutions 9.75% preference share gained $1.50 to end at $101.50 in switching ownership of 26 stock units and Transjamaican Highway 8% dropped 62 cents to close at $2.40, with 44,429 stocks changing hands.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
