The Jamaica Stock Main Market recorded gains to close out the past week on a positive note, the second week that this is happening but the Junior Market Index was flat for a second week, and both markets enjoyed some sizable price movements that are in ICTOP10 lists.
Access Financial that dropped out of the Junior Market TOP10 last week returns with the price at $21.31 replacing Medical Disposables after the latter rose 7 percent for the week to $5.33. There were no new listings for the Main Market 10.
Only two Junior Market TOP10 stocks declined this past week with the rest gaining. Elite Diagnostic dropped 13 percent to $3.04 and Lasco Financial fell 9 percent to close at $2.74. Paramount Trading jumped 14 percent to $1.95, followed by Iron Rock Insurance with a rise of 12 percent to $2.45.
The Main Market 10 had four rising stocks and five declining. 138 Student Living rose 14 percent to $5.20, Key Insurance was up 10 percent to $3.68 and Jamaica Broilers gained 4 percent to $28. Guardian Holdings fell 11 percent to $495, Berger Paints fell 6 percent to $9.45 and Radio Jamaica dipped 4 percent to $1.90.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.7, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.1, important indicators of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 242 percent and the Main Market TOP10 an average now of 271 percent, to May 2023.
The Junior Market has 13 stocks representing 28 percent of the market, with PEs from 15 to 34, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 17.5 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 88, with an average of 29.6 and 21.7 excluding the highest valued ones and 19 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 and result 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.
A total of only 6,541,604 shares were traded for $73,470,799 compared with 4,145,005 units at $91,859,137 on Thursday.
The All Jamaican Composite Index fell 2,262.98 points to 387,082.91, the JSE Main Index dropped 1,596.95 points to close at 340,153.88 and the JSE Financial Index lost 0.53 points to end at 81.46.
Berger Paints shed 55 cents to close at $9.45 with 42,000 units changing hands, Caribbean Cement dropped $1 to end at $57 in switching owners of 510,980 stocks. Eppley Caribbean Property Fund advanced $2.60 to $44 with the swapping of 3,216 stock units, Jamaica Producers gained $1.85 to close at $26.35 with an exchange of 488,659 stock units, JMMB Group rallied $2 to $34 in trading 10,324 shares. Kingston Wharves climbed $4.14 to $31.85 with 2,368 units crossing the market, Mayberry Investments rose 52 cents in ending at $7.35 in exchanging 9,032 stocks, PanJam Investment advanced $1.40 to $57.40 with investors transferring 1,902 stock units. Portland JSX fell $1.50 to close at $9 after trading 5,000 units, Pulse Investmentspopped 40 cents to end at $3.05 with the swapping of 639,000 stocks, Sagicor Group lost $1.98 in closing at $51 in exchanging 53,740 shares. 
Scotia Group gained 85 cents to end at $33 in switching ownership of 16,736 units, Supreme Ventures rallied $1.93 to $27.94 with a transfer of 114,752 stocks and Sygnus Credit Investments was marked up by $1.40 to $12.90 trading 2,942 shares.
A total of just 4,145,005 shares were exchanged for $91,859,137 compared with 9,955,147 units at $296,663,488 on Wednesday.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.8 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.
JMMB Group shed $1 to close at $32 in trading 10,770 units, Kingston Properties dipped $1.40 to $6.50 after 2,410 stocks were traded, Kingston Wharves shed $7.29 to a 52 weeks’ closing low of $27.71 with an exchange of 159,645 stock units. Margaritaville popped $2.05 to end at $22.56 with 87 units changing hands, Massy Holdings dropped $1 in closing at $80 as investors exchanged 500,356 stock units, Mayberry Jamaican Equities rallied 90 cents to $13.40 with investors transferring 1,000 shares. NCB Financial lost 50 cents to end at $83 trading 13,197 stocks, PanJam Investment fell $2.30 to $56 in an exchange of 70,016 units, Proven Investments advanced $1.74 to $27.96 with the swapping of 9,557 shares. Pulse Investments lost 40 cents to a 52 weeks’ closing low of $2.65 after exchanging 539,781 stock units, Sagicor Group dipped $1.12 in ending at $52.98 in transferring 94,741 stocks, Scotia Group fell $2.05 to $32.15 in switching ownership of 37,516 stocks. Seprod shed $1.50 in closing at $69 after an exchange of 4,669 stock units, Supreme Ventures advanced $1.04 to $26.01 with the swapping of 114,979 shares, 
Sygnus Credit Investments declined $1.41 to $11.50 after exchanging 19,800 units. Sygnus Real Estate Finance gained $1.20 to end at $10.20 with an exchange of 2,501 shares and Wisynco Group lost $1.21 to close at $17.20 in trading 293,941 stock units.
Investors traded 9,955,147 shares valued at $296,663,488 compared with 5,681,384 units at $75,914,996 on Tuesday.
The PE Ratio, a formula to used to determine appropriate stock values, averages 14 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.
Jamaica Stock Exchange rose $2 to end at $16.90 with investors exchanging 231,852 stocks. JMMB Group advanced $1.50 to close at $33 in switching ownership of 40,583 shares, Kingston Properties popped $1 to end at $7.90 with a transfer of 299,908 stock units, Kingston Wharves gained $1.59 to end at $35, with investors exchanging 421,611 stocks. Margaritaville climbed $4.29 to $20.51 with one unit changing hands, Mayberry Jamaican Equities dropped $1 to finish at $12.50 with the swapping of 29,336 stock units, MPC Caribbean Clean Energy popped $5 to $83 after a transfer of 731 shares. NCB Financial lost $1.50 to end at $83.50 in trading 48,621 stock units, Portland JSX gained $1.50 in closing at $10.50 in exchanging 182 units, Proven Investments shed $1.38 to $26.22 with the swapping of 6,563 stocks. Sagicor Group rose $5.10 to $54.10 trading 1,221,619 shares, Scotia Group climbed $1.70 to $34.20 with 65,373 stock units clearing the market, Seprod rallied $3.50 to $70.50 in exchanging 1,766,351 shares. Stanley Motta gained 98 cents in closing at $5.45 with 1,001,953 units changing hands, Supreme Ventures rose 76 cents to end at $24.97 as investors switched ownership of 44,665 stocks, 
Victoria Mutual Investments rallied 80 cents to $3.80 in an exchange of 114,134 stocks and Wisynco Group gained 41 cents to settle at $18.41 with a transfer of 737,192 units.
Five stocks traded at 52 weeks’ low including Jamaica Stock Exchange, JMMB Group ordinary share, Palace Amusement, VM Investments and JMMB Group 7.35% preference share.
Wigton Windfarm with 790,724 units for 13.9 percent of the day’s trade and Wisynco Group with 687,585 units for 12.1 percent market share.
At the close, Caribbean Producers rallied 54 cents to $12.59 in switching ownership of 8,568 shares, Eppley Caribbean Property Fund dipped $3.97 to $36.02 trading 100 stock units, First Rock Real Estate climbed $1.94 in closing at $15 with investors trading 385,998 stocks. Guardian Holdings declined $5.10 after ending at $495 trading 6,641 units, Jamaica Broilers rose 54 cents to $27.40 with 51,941 stocks clearing the market, Jamaica Stock Exchange fell $1.03 to a 52 weeks’ low of $14.90 with an exchange of 28,942 units. JMMB Group shed 90 cents to end at a 52 weeks’ low of $31.50 as investors transferred 212,943 shares, Kingston Wharves lost 59 cents in closing at $33.41 after 361,343 stock units crossed the exchange, Palace Amusement dropped $39 in ending at a 52 weeks’ low of $621 with four units changing hands. Sagicor Group popped $1 to close at $49 trading 65,818 stocks, 
Scotia Group lost $1.70 to settle at $32.50 as investors transferred 33,492 shares, Seprod dipped $1.99 to $67 with the swapping of 56,540 stock units and Victoria Mutual Investments fell 95 cents to a 52 weeks’ low of $3 with 209,695 units changing hands.
A total of 12,752,567 shares were exchanged for $123,366,397 versus 6,765,232 units at $141,934,681 on Friday.
The All Jamaican Composite Index rose 1,072.14 points to 382,725.04, the JSE Main Index shed 767.80 points to end at 337,292.65 and the JSE Financial Index shed 0.97 points to close at 80.11.
Eppley rallied $5.65 in closing at $38.65 after a transfer of 3,000 units. Eppley Caribbean Property Fund climbed $3.49 to $39.99 with 249 stocks changing hands, Guardian Holdings dropped $58.85 to end at $500.10, with 146 shares clearing the market, JMMB Group shed 60 cents to close at $32.40 in exchanging 15,598 units. Kingston Properties rose 43 cents to $6.99 in trading 98,000 stocks, Kingston Wharves popped 55 cents to $34 with the swapping of 190,708 stock units, Massy Holdings advanced 50 cents in ending at $81 after trading 564 stock units. NCB Financial gained 90 cents in closing at $84.90 after exchanging 202,064 stocks, Palace Amusement fell $59.01 to $660 with the swapping of 56 shares, Proven Investments rose 98 cents to $27.98 as investors exchanged 9,113 units. Scotia Group popped $1.45 to close at $34.20 after trading 2,803 shares, Seprod declined $1.01 to $68.99 with an exchange of 3,281 stock units, 
Stanley Motta dipped 48 cents to $4.47 with investors transferring 4,237 stocks and Supreme Ventures shed 79 cents to close at $24.21 in an exchange of 265,908 units.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.7, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.9 versus the market at 12, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 246 percent and the Main Market TOP10, an average now of 269 percent, to May 2023.
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.
The market closed with an exchange of 6,765,232 shares worth a total of $141,934,681 versus 19,677,897 units at $39,419,138 on Thursday.
The All Jamaican Composite Index rallied 1,783.90 points to 381,652.90, the JSE Main Index climbed 1,999.87 points to 338,060.45 and the JSE Financial Index inched 0.56 points higher to 81.08.
Caribbean Cement popped $1.30 to $58.80 after exchanging 140 shares, Eppley Caribbean Property Fund fell $3.49 to $36.50 with a transfer of 24 stock units, Guardian Holdings shed $1.05 to $558.95 in exchanging 186 units. Jamaica Stock Exchange gained 94 cents to close at $15.94 in switching ownership of 1,102 stocks, Kingston Wharves dropped $1.54 to$33.45 with 60,233 shares changing hands, NCB Financial dipped $1 to $84 as investors exchanged 75,416 stock units. Proven Investments lost 98 cents to end at $27 after trading 165 stocks, Sagicor Group declined 54 cents in closing at $48.26 with a transfer of 7,563 units, Seprod rose $1 to $70 with the swapping of 1,698,127 stocks. Stanley Motta gained 49 cents to close at $4.95, with 7,676 shares crossing the exchange and Sygnus Real Estate Finance lost 90 cents to end at $9 with the swapping of 980 units.
In the preference segment, Eppley 7.25%preference share dipped $3 to $17 after switching ownership of 5,000 stock units and JMMB Group 7% preference share shed 49 cents to close at $1.97, trading 10 stock units.
A total of 19,677,897 shares were exchanged for $39,419,138 versus 6,016,425 units at $56,503,512 on Wednesday.
The All Jamaican Composite Index fell 1,154.03 points to 379,869.00, the JSE Main Index rose 428.14 points to 336,060.58 and the JSE Financial Index gained 0.52 points to settle at 80.52.
At the close, Barita Investments rose $1.95 after ending at $87 with the swapping of 10,515 shares, Caribbean Cement advanced 50 cents in closing at $57.50 with an exchange of 127,191 stocks, Eppley dipped $2 to $33 in trading 3,704 stock units. Eppley Caribbean Property Fund advanced $2.59 to close at $39.99 in switching ownership of 124 units, Guardian Holdings climbed $60 to end at $560 with 323 stock units changing hands, Jamaica Broilers fell 65 cents to $26.85 in transferring 6,640 units. Jamaica Producers declined 78 cents to close at $22.22 with an exchange of 34,293 stocks, Jamaica Stock Exchange dropped $1 to $15 with 23,974 shares crossing the market, Kingston Properties rose 61 cents to $6.62 with the swapping of 6,958 shares. Kingston Wharves rallied $1.14 to end at $34.99 after exchanging 86,935 stock units, Massy Holdings popped $2.48 to $80.50 after 4,734 stocks were traded, PanJam Investment climbed $1 to $58 in an exchange of 5,336 units. Seprod advanced 50 cents to end at $69 after a transfer of 192 shares, 
Supreme Ventures rose 84 cents in closing at $25.25 with 15,251 units changing hands, Sygnus Credit Investments gained 42 cents to close at $12.92 after 8,699 stock units cleared the market and Sygnus Real Estate Finance rallied 85 cents to finish at $9.90 in trading 11,598 stocks.
JMMB Group traded at a 52 weeks’ intraday low of $32 and QWI Investments closed at a 52 weeks’ low of 61 cents.
The All Jamaican Composite Index gained 909.90 points to close at 381,023.03, the JSE Main Index dropped 2,865.97 points in closing at 335,632.44 and the JSE Financial Index lost 1.43 points to settle at 80.00.
At the close, Eppley Caribbean Property Fund popped $1.38 in closing at $37.40 as investors exchanged 3,440 shares, GraceKennedy rose 94 cents to $82.05 after a transfer of 129,110 stock units, Guardian Holdings dropped $74.98 to $500, with 24 stocks clearing the market. Jamaica Stock Exchange climbed $1 to $16 in trading 39,224 units, Kingston Properties dipped $1.19 to $6.01 with an exchange of 334 stocks, Kingston Wharves gained $2.35 to close at $33.85 with the swapping of 100,981 stock units. Massy Holdings shed $2.08 to end at $78.02 in trading 1,886 units, Mayberry Investments gained 59 cents in closing at $7.15 after a transfer of 6,529 shares, NCB Financial rallied $1 to $85 in exchanging 94,262 units. PanJam Investment lost $1 to end at $57 with the swapping of 15,143 stocks, Portland JSX declined $1.20 to $9 with investors transferring 979 stock units, Proven Investments advanced $1.99 in closing at $27.99 with one share changing hands. 
Scotia Group fell $2.30 to $32.70 in exchanging 83,040 shares, Supreme Ventures dropped $1 to close at $24.41 in switching ownership of 48,664 stock units, Sygnus Credit Investments rallied 98 cents in ending at $12.50 after trading 3,000 stocks and Sygnus Real Estate Finance dipped $1.05 to settle at $9.05 with a transfer of 150 units.