Trading closed on the Junior Market of the Jamaica Stock Exchange Wednesday, with the volume of stocks traded surging 1,828 percent and the value 20,493 percent more than on Tuesday as a result of Proven Investments switching ownership within the group for the near 68 million Access shares it owns, following trading in 42 securities compared with 43 on Tuesday, with 13 rising, 20 declining and nine closing unchanged.
Investors traded 72,320,927 shares for $1,687,100,183 compared with 3,751,282 units at $8,192,766 on Tuesday.
Trading averaged 1,721,927 shares at $40,169,052, compared to 87,239 shares at $190,529 on Tuesday with a month to date, average of 694,868 units at $13,709,154 compared to 181,338 stock units at $479,205 on the previous day. March closed with an average of 509,288 units at $1,071,868.
Access Financial led trading with 67.86 million shares for 93.8 percent of total volume followed by Image Plus with 1.15 million units for 1.6 percent of the day’s trade and Mailpac Group with 758,453 units for one percent market share.
At the close, the Junior Market Index dipped 8.01 points to end at 3,693.19.
The PE Ratio, a measure of computing appropriate stock values, averages 11. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial declined 37 cents to $24.67, with 67,861,430 shares clearing the market, AMG Packaging shed 38 cents after ending at $2.68 in trading 5,010 stocks, CAC 2000 dipped $1.60 to close at a 52 weeks’ low of $5.50 after 177 stock units changed hands, 
Caribbean Assurance Brokers gained 8 cents to close at $1.98, with 104,624 units crossing the exchange, Caribbean Flavours popped 19 cents to $1.25 as investors traded 1,000 units, Consolidated Bakeries rallied 15 cents to end at $2.16 after 61 units crossed the exchange, EduFocal declined 8 cents to $1.92 as 5,477 units passed through the market, Indies Pharma gained 33 cents to $3.19 with the swapping of 4,625 stocks, JFP Ltd dropped 8 cents to close at $1.70 after an exchange of 18,104 units, Lasco Distributors advanced 25 cents to $2.63 after an exchange of 12,859 shares, Limners and Bards dropped 11 cents in closing at $2.49, with 29,437 stock units changing hands, Mailpac Group fell 20 cents to end at $1.72 with an exchange of 758,453 stocks, Main Even rose 36 cents to close at $12.27 after exchanging 41,536 stock units, 
MFS Capital Partners climbed 14 cents to $3.52 with investors transferring 6,363 units and Stationery and Office Supplies lost $1.67 to close at $14.02 in an exchange of 12,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Junior Market
The Junior Market of the Jamaica Stock Exchange rose on Tuesday, even as the volume of stocks traded declined 67 percent with 74 percent lower value than on Monday with trading in 43 securities compared with 41 on Monday and ended with prices of 17 rising, 15 declining and 11 closing unchanged.
Investors traded 3,751,282 shares for $8,192,766 compared to 11,481,147 units at $32,060,415 on Monday.
Trading averaged 87,239 shares at $190,529, compared with 280,028 shares at $781,961 on Monday, with the month to date, averaging 181,338 units at $479,205. March averaged 509,288 units at $1,071,868.
Image Plus Consultants led trading with 910,427 shares for 24.3 percent of total volume, EduFocal followed with 565,441 units for 15.1 percent of the day’s trade and ONE on ONE Educational with 491,730 units for 13.1 percent market share.
At the close, the Junior Market Index increased 34.69 points to close at 3,701.20.
The PE Ratio, a measure of computing appropriate stock values, averages 11.2. 
The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging rose 41 cents to $3.06, with 913 shares crossing the market, Caribbean Assurance Brokers declined 10 cents to $1.90 in trading 154,979 units, Caribbean Cream fell 58 cents in closing at $3.48 as investors exchanged 2,000 stocks. Caribbean Flavours dipped 19 cents after ending at $1.06, with 30,000 stock units crossing the exchange, 
Everything Fresh dropped 14 cents to $1.45 after exchanging 23,683 units, Express Catering advanced 65 cents to $5 as just 2,711 shares passed through the market. Future Energy Source gained 24 cents in closing at $4.27 after 34,284 stock units changed hands, iCreate rallied 12 cents to $1.60 after a transfer of 10,099 stocks, Indies Pharma shed 44 cents after ending at $2.86 in trading 35,342 stock units. Knutsford Express climbed $1.37 to $11.78 with a transfer of 200 shares, Lasco Distributors lost 34 cents to close at $2.38 while exchanging 10,885 units, Lasco Manufacturing fell 38 cents to end at $4.07 in switching ownership of 19,436 stocks. Limners and Bards increased 40 cents to $2.60, with 3,610 stocks crossing the market, 
Lumber Depot declined 10 cents to $2.40 after an exchange of 29,000 shares and Stationery and Office Supplies popped $1.68 in closing at $15.69, with 11,005 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market plunges 129 points
Investors pushed down the Junior Market Index 128.70 points to 3,666.51 and gave back all of the gains over the previous two trading days as the month end window dressing was reversed, with the volume of stocks traded declining 57 percent, with 60 percent lower value than on Friday following trading in 41 securities compared with 44 on Friday and ended with 18 rising, 18 declining and five closing unchanged, with three stocks hitting 52 weeks’ lows during the session.
A total of 11,481,147 shares were traded for $32,060,415, down from 26,446,403 units at $79,364,016 on Friday.
Trading averaged 280,028 shares at $781,961, compared with 601,055 stock units at $1,803,728 on Friday. March ended with an average of 509,288 units at $1,071,868.
Fosrich led trading with 4.89 million shares for 42.5 percent of total volume followed by Image Plus, with 1.75 million units for 15.2 percent of the day’s trade and Regency Petroleum with 729,577 units for 6.4 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 11.2. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial fell 94 cents to $25.05 after 20 shares crossed the market, AMG Packaging dipped 35 cents to $2.65 while exchanging 3,179 stocks, Caribbean Cream advanced 56 cents to end at $4.06, with a transfer of 4,305 units. Consolidated Bakeries lost 15 cents in closing at $2 with a transfer of 5,332 stock units, Derrimon Trading rose 12 cents to close at $2.12 in an exchange of 15,262 stocks, Dolphin Cove jumped 72 cents to $14.98 trading 19,132 shares, Everything Fresh increased 14 cents to end at $1.59 in an exchange of 19,044 units, Express Catering declined 40 cents to close at a 52 weeks’ closing low of $4.35 after hitting an intraday low of $4 with investors transferring 87,215 stock units, Future Energy Source shed 56 cents in closing at a 52 weeks’ low of $4.03, with 374,727 stock units crossing the exchange. Honey Bun rallied 25 cents to $6.70 after an exchange of 28,818 units, Image Plus Consultants climbed 17 cents to $1.97 after exchanging 1,746,560 stocks, Indies Pharma dipped 23 cents to end at $3.30 with 29,054 shares clearing the market. 
Iron Rock Insurance popped 26 cents to $2.27 with an exchange of four stock units, ISP Finance declined $1.56 to $23.99, with 18,944 units changing hands, JFP Ltd dipped 20 cents to $1.75 after an exchange of 169,479 shares. Knutsford Express shed $1.83 to close at $10.41 in trading 3,941 stocks, Lasco Distributors rallied 12 cents to $2.72 as 148,729 stocks passed through the market, Limners and Bards lost 39 cents to end at $2.20 in switching ownership of 15,572 stock units. Lumber Depot rose 16 cents to $2.50 with the swapping of 9,789 shares, Mailpac Group dropped 11 cents after ending at $1.89 with 68,853 units crossing the market, Main Event advanced 24 cents to $11.90 and closed after 44,794 stock units changed hands. Regency Petroleum fell 21 cents to close at $2.23 after an exchange of 729,577 shares, Spur Tree Spices fell 36 cents in closing at $2.70 after exchanging 158,115 units, 
Stationery and Office Supplies shed $1.74 after ending at $14.01 in an exchange of 241,581 stocks and Tropical Battery declined 13 cents to $1.95 after trading at a 52 weeks’ intraday low of $1.80, with 344,018 stock units being traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ICTOP10 rides big weekly JSE rally
The JSE Main market surged sharply in the past week.
While the Main and Junior Markets rebounded sharply during last week, ICTOP10 stocks ended with varying movements, with gains and losses in both markets hitting 16 percent. It was an interesting week in which the main market gained over 18,000 points for the week with all days closing with gains including the Friday of the previous week, but it sits at a resistance level and is a signal worth watching.
The Junior Market put on 200 points since Thursday, March 23 and had one minor negative trading day during the period, however, the last day accounted for nearly half of the above gains.
While Bank of Jamaica held their overnight rates at 7 percent, their CD rate that fell 16 percent in the previous week to an average of 8.85 percent from over 10 percent where it stood for several months, BOJ offered a huge $35 billion this past week, but the average rate fell to 8.49 percent after $70 billion chased the amount offered. Importantly, the central bank cut the stock of CDS it holds from a peak of $109.5 billion on March 3, but at the latest auction, it amounted to $88.85 billion, marginally up from $82 billion on the 17th.
At the end of the past week, in the Junior Market TOP10 four stocks gained and five declined. KLE Group jumped 16 percent to $1.69 and Tropical Battery rose 7 percent to close at $2.08. General Accident dropped 16 percent to $5 and Everything Fresh fell 6 percent to close at $1.45.
The Main Market TOP10 JMMB Group climbed 15 percent to $33.25, Jamaica Broilers gained 12 percent to $37.10, Caribbean Producers popped 7 percent to $9.70 and NCB Financial with a rise of 6 percent to $75. Berger Paints fell 10 percent to $8.20 and 138 Student Living with a fall of 6 percent to $5.05.
The Junior Market has a long term pattern, with the market starting to rise around a month before quarterly results are due and declining shortly after results are released. This is a pattern worth noting that can be built into investment decisions that can improve returns.
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 14.2, while the Junior Market Top 10 PE sits at 5.8 compared with the market at 11.4. The differences are important indicators of the level of likely gains for ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main MarketTOP10 by an average of 267 percent, by May 2024, based on 2023 forecasted earnings.
The Junior Market has 11 stocks representing 23 percent of the market, with PEs from 15 to 28, averaging 20.4, well above the average of the market. The top half of the market has an average PE of 16, suggesting that this may be a logical value for junior market stocks currently.
The Main Market 19 highest valued stocks are priced at a PE of 15 to 115, with an average of 29 and 21 excluding the most valued stocks and 20.5 for the top half excluding the stocks with the highest valuation.
The above average shows the extent of potential gains for the TOP 10 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 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.
Big rally for Junior Market
Stocks enjoyed a big rally on the last day of the 2023 first quarter as investors closed the Junior Market of the Jamaica Stock Exchange on Friday, with a big rally in the market index following a buoyant volume of stocks trading, with a 13 percent slippage at a marginally higher value than on Thursday, with trading in 44 securities compared with 42 on Thursday and ending with 26 rising, 14 declining and four closing unchanged.
A total of 26,446,403 shares were traded for $79,364,016 compared with 30,528,396 units at $77,798,162 on Thursday.
Trading averaged 601,055 shares at $1,803,728 versus 726,867 stocks at $1,852,337 on Thursday, with a month to date average of 509,288 units at $1,071,868 compared to 505,086 stock units at $1,038,359 on the previous day. February closed with an average of 318,024 units at $782,332.
Regency Petroleum led trading with 6.27 million shares for 23.7 percent of total volume followed by JFP Ltd with 5.48 million units for 20.7 percent of the day’s trade, Indies Pharma with 4.88 million units for 18.5 percent of the day’s trade and Spur Tree Spices with 3.88 million units for 14.7 percent market share.
At the close, the Junior Market Index gained 93.32 points to 3,795.21.
The PE Ratio, a measure used in computing appropriate stock values, averages 11.4. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
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, Access Financial gained 80 cents in closing at $25.99 after a transfer of 150,908 shares, AMG Packaging lost 18 cents to close at $3 as 613 stock units passed through the market, Cargo Handlers dropped 10 cents to $13.30 as investors exchanged 200 units. Consolidated Bakeries rose 14 cents to end at $2.15 with the swapping of 2,734 stocks, Derrimon Trading increased 19 cents after ending at $2 and closed after 51,465 shares changed hands, Dolla Financial climbed 10 cents to $2.81 in trading 178,095 units. Dolphin Cove declined 44 cents after ending at $14.26 in switching owners of 7,080 stock units, EduFocal rallied 13 cents to close at $2.03 after exchanging 80,000 stocks, Express Catering fell 35 cents to end at $4.75 after an exchange of 48,166 stocks. 
Fontana popped 22 cents in closing at $8.40 with 53,472 shares changing hands, Future Energy Source advanced 16 cents to end at $4.59, with 689,541 stock units crossing the market, General Accident rallied 29 cents after ending at $5 with 1,761 units crossing the exchange. Honey Bun dipped 35 cents to $6.45 with an exchange of 28,472 units, Indies Pharma rose 46 cents in closing at $3.53 with a transfer of 4,882,159 stock units, Iron Rock Insurance shed 26 cents to close at $2.01 trading 5,000 stocks. Jamaican Teas popped 18 cents to close at $2.28 in an exchange of 33,330 shares, JFP Ltd advanced 10 cents in closing at $1.95 with investors transferring 5,482,938 stock units, Knutsford Express increased $1.24 to end at $12.24 while exchanging 603,480 stocks. Lasco Distributors gained 23 cents to $2.60, with 634 units crossing the market, Lasco Manufacturing climbed 11 cents after ending at $4.45, with 22,214 shares clearing the market, Limners and Bards popped 34 cents to close at $2.59 in an exchange of 261,338 stock units. 
Paramount Trading shed 19 cents to close at $2.15 after 10,000 stocks were traded, Regency Petroleum rose 25 cents after ending at a record high of $2.44 with an exchange of 6,271,147 shares, Spur Tree Spices rallied 33 cents to $3.06 with 3,880,290 units changing hands. Stationery and Office Supplies advanced $1.25 in closing at $15.75 as investors exchanged 98,938 units and Tropical Battery gained 13 cents to close at $2.08 while exchanging 246,272 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Surge in trading on Junior Market
Trading jumped sharply on the Junior Market of the Jamaica Stock Exchange on Thursday, with a 199 percent rise in the volume of stocks traded as the value surged 176 percent over Wednesday following trading in 42 securities compared with 45 on Wednesday and ended with prices of 21 rising, 17 declining and four closing unchanged.
Investors traded 30,528,396 shares for $77,798,162 up from 10,202,465 units at $28,165,787 on Wednesday.
Trading averaged 726,867 shares at $1,852,337, in contrast with 226,721 shares at $625,906 on Wednesday, with the month to date, averaging 505,086 units at $1,038,359 compared to 494,951 stock units at $1,001,159 on the previous day. February closed with an average of 318,024 units at $782,332.
Fosrich led trading with 16.34 million shares for 53.5 percent of total volume followed by Spur Tree Spices with 3.75 million units for 12.3 percent of the day’s trade, Regency Petroleum 2.79 million units for 9.2 percent of the day’s trade, Image Plus Consultants with 1.51 million units for 4.9 percent, JFP Ltd 1.40 million units for 4.6 percent of the market and Dolla Financial ended with 1.04 million units for 3.4 percent market share.
At the close, the Junior Market Index gained 23.51 points to 3,701.89.
The PE Ratio, a measure of computing appropriate stock values, averages 11.1. The PE ratios of Junior Market stocks are computed based on the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 10 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial gained $2.99 in closing at $25.19 in an exchange of 24,883 shares, Cargo Handlers lost 10 cents to end at $13.40 as investors exchanged 1,487 units, Caribbean Assurance Brokers fell 10 cents to close at $1.90 after trading 5,853 stock units. 
Derrimon Trading dipped 24 cents to close at a 52 weeks’ low of $1.81 after an exchange of 125,357 stocks, Dolphin Cove shed 30 cents after ending at $14.70 following an exchange of 6,316 stocks, Express Catering advanced 10 cents in closing at $5.10 with trading of 82,589 shares. Honey Bun rose 50 cents to $6.80 after a transfer of 28,453 stock units, Iron Rock Insurance climbed 18 cents to close at $2.27 after exchanging two units, ISP Finance rallied $5.55 to end at $25.55, with 4 stocks crossing the market. Jamaican Teas dropped 19 cents to $2.10 with a transfer of 606,002 shares, Knutsford Express declined 33 cents to close at $11, with 7,280 units crossing the market, Lasco Manufacturing increased 34 cents to $4.34 in an exchange of 44,885 stock units. Main Event declined 44 cents to $11.66 with 26,394 shares clearing the market, Regency Petroleum popped 10 cents after ending at $2.19 with investors transferring 2,794,741 stocks, Spur Tree Spices popped 23 cents to end 
at $2.73 after 3,751,342 units crossed the exchange. Stationery and Office Supplies gained 35 cents after ending at $14.50 after 35,010 stock units passed through the market and tTech advanced 55 cents to $2.55 in switching ownership of two stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading rises on Junior Market but prices fall
Trading picked up on the Junior Market of the Jamaica Stock Exchange Wednesday, but the market value slipped after the volume of stocks traded rose 24 percent and the value 26 percent more than on Tuesday following trading in 45 securities compared with 44 on Tuesday and ended with nine rising, 24 declining and 12 closing unchanged.
Investors traded 10,202,465 shares for $28,165,787 up from 8,256,705 units at $22,347,499 on Tuesday.
Trading averaged 226,721 shares at $625,906, compared to 187,652 shares at $507,898 on Tuesday with the month to date, averaging 494,951 units at $1,001,159 compared to 508,761 stock units at $1,020,480 on the previous day. February closed with an average of 318,024 units at $782,332.
Fosrich led trading with 2.82 million shares for 27.6 percent of total volume followed by Spur Tree Spices with 2.17 million units for 21.3 percent of the day’s trade and MFS Capital Partners with 792,425 units for 7.8 percent market share.
At the close, the Junior Market Index slipped 15.98 points to close at 3,678.38.
The PE Ratio, a measure of computing appropriate stock values, averages 10.9. The PE ratios of Junior Market stocks are computed based on the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, CAC 2000 fell $1.10 to $7.10 after trading 973 shares, Cargo Handlers rose 49 cents to $13.50 with investors transferring 10 stocks, Consolidated Bakeries shed 18 cents to end at $2.01 in switching ownership of 726 stock units. Dolla Financial declined 12 cents after ending at $2.66 with a transfer of 596,131 units, Dolphin Cove climbed 30 cents to close at $15 while exchanging 200 stock units, Everything Fresh dipped 11 cents to close at $1.45 as investors exchanged 2,104 units. 
Future Energy Source lost 12 cents to end at $4.35 with 497,865 shares crossing the exchange, General Accident dropped 35 cents to close at $4.70, with 5,150 stocks changing hands, ISP Finance declined $5.56 in closing at $20 after a transfer of 3,028 units. Jamaican Teas popped 13 cents to end at $2.29 with an exchange of 13,870 stock units, Knutsford Express rallied $1.33 to close at $11.33 with the swapping of 69,943 stocks, Lasco Distributors dropped 23 cents to $2.45 in an exchange of 13,792 shares. Lasco Manufacturing dipped 15 cents after ending at $4 and an exchange of 7,155 stocks, Limners and Bards lost 26 cents in closing at $2.25 after trading 6,624 shares, Main Event shed 15 cents to land at $12.10 in an exchange of 19,599 units. 
MFS Capital Partners fell 14 cents to end at $3.31 as 792,425 stock units passed through the market, Paramount Trading rose 19 cents to close at $2.34 after exchanging 545 units and tTech lost 30 cents in closing at a 52 weeks’ low of $2, with 117,880 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market climbs
Trading closed on the Junior Market of the Jamaica Stock Exchange Tuesday with an 89 percent rise in the volume of stocks traded with a 96 percent greater value than on Monday with trading in 44 securities compared with 45 on Monday. It ended with 25 rising, 12 declining and seven closing unchanged.
A total of 8,256,705 shares were exchanged for $22,347,499 up from 4,366,193 units at $11,400,138 on Monday.
Trading averaged 187,652 shares at $507,898, compared with 97,027 units at $253,336 on Monday with the month to date, averaging 508,761 units at $1,020,480 compared with 525,784 stocks at $1,047,653 on the previous day. Februaryc losed with an average of 318,024 units at $782,332.
Fosrich led trading with 1.88 million shares for 22.8 percent of total volume, followed by Limners and Bards with 1.46 million units for 17.7 percent of the day’s trade and MFS Capital Partners with 687,146 units for 8.3 percent market share.
At the close, the Junior Market Index jumped 38.90 points to settle at 3,694.36.
The PE Ratio, a measure of computing appropriate stock values, averages 10.9. The PE ratios of Junior Market stocks are computed using the last traded stock price and ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial fell 78 cents to $22.20, with 2,283 shares changing hands, AMG Packaging popped 55 cents to end at $3.15 after a transfer of 2,100 stocks, Caribbean Assurance Brokers climbed 10 cents after ending at $2.08, with an exchange of 33,749 units. Dolphin Cove dropped 30 cents to $14.70 with 3,135 stock units changing hands, Elite Diagnostic lost 25 cents in closing at $2.45, with 52,140 units crossing the market, Everything Fresh increased by 15 cents to $1.56 with the swapping of 137 shares.
Express Catering advanced 19 cents to end at $5 in an exchange of 4,636 stock units, Fosrich declined 10 cents in closing at $2.74 after exchanging 1,879,393 stocks, Future Energy Source rose 19 cents to $4.47 in trading 376,387 stocks. GWest Corporation rallied 13 cents to $1.06 in switching ownership of 5,423 shares, Honey Bun gained 30 cents after ending at $6.30 as investors exchanged 6,202 stock units, Iron Rock Insurance rallied 9 cents to close at $2.09 after trading 4,956 units. Jamaican Teas fell 14 cents in closing at $2.16 in an exchange of 201,530 stocks, KLE Group popped 24 cents to $1.70, with 3,177 units crossing the exchange, Knutsford Express dipped 30 cents to end at $10, with 97,416 shares clearing the market. Lasco Distributors advanced 22 cents to $2.68 in trading 28,430 stock units, Limners and Bards rose 22 cents in closing at $2.51 with a transfer of 1,461,352 stock units, Lumber Depot increased 26 cents after ending at $2.40 as 268,060 stocks passed through the market. Mailpac Group gained 19 cents to close at $2 with investors transferring 558,371 shares, Main Event climbed 25 cents to end at $12.25 while exchanging 20,646 units,Medical Disposables popped 15 cents to $5, with 1,877 stocks crossing the market.
Paramount Trading fell 25 cents to end at $2.15, as 350 stock units passed through the market, Regency Petroleum rose 11 cents to close at $2.09 while exchanging 535,937 units, Spur Tree Spices climbed 10 cents after ending at $2.50 with an exchange of 153,009 shares but only after trading at an intraday 52 weeks’ low of $2.33 and Tropical Battery declined 9 cents in closing at $2 after exchanging 141,447 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks outpaced Junior Market losers
The Junior Market of the Jamaica Stock Exchange bounced more than 87 points in early trading on Monday but gave back more than a two thirds of it by the close, with a 33 percent fall in the volume of stocks traded and the value dropping 31 percent from Friday outcome after trading was executed in 45 securities up from 42 on Friday and ended with 25 rising, 12 declining and eight closing unchanged.
A total of 4,366,193 shares were exchanged for $11,400,138 down from 6,478,077 units at $16,544,909 on Friday.
Trading averaged 97,027 shares at $253,336 compared to 154,240 units at $393,926 on Friday, with the month to date, averaging 525,784 units at $1,047,653 compared with 550,362 stock units at $1,093,187 on the previous day. Trading in February averaged 318,024 units at $782,332.
ONE on ONE Educational led trading with 840,210 shares for 19.2 percent of total volume followed by Dolla Financial with 497,169 units for 11.4 percent of the day’s trade and Regency Petroleum with 465,352 units for 10.7 percent market share.
At the close, the Junior Market Index rose 26.01 points to end at 3,655.46.
The PE Ratio, a measure of computing appropriate stock values, averages 10.9. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging dropped 40 cents to $2.60 as investors exchanged 5,000 shares, Blue Power gained 32 cents in closing at $2.38 with the swapping of 1,500 units, Caribbean Assurance Brokers rose 8 cents to $1.98 while exchanging 4,097 stocks. Caribbean Cream rallied 20 cents to $3.50, with 7,534 stocks changing hands, Caribbean Flavours popped 12 cents to $1.15 as 82,197 shares passed through the market, Consolidated Bakeries rose 18 cents to close at $2.19 in trading 3,831 stocks. Dolla Financial increased 8 cents to end at $2.74 and closed with 497,169 stock units changing hands, Everything Fresh shed 14 cents in closing at $1.41 with a transfer of 6,000 units, Express Catering dipped 39 cents to $4.81 in an exchange of 2,615 stocks. 
Fosrich advanced 13 cents after ending at $2.84 while 70,990 stock units crossed the market, General Accident lost 98 cents to close at $5 after exchanging 1,487 shares, GWest Corporation fell 12 cents to end at 93 cents with 11,453 units clearing the market. Honey Bun declined 75 cents in closing at $6, with 65,084 stock units crossing the exchange, Indies Pharma rose 19 cents to $2.99 after an exchange of 8,137 stocks, ISP Finance gained $4.55 after ending at $25.56 with 400 shares being traded. Jamaican Teas climbed 15 cents to end at $2.30 in switching ownership of 71,461 units, Lasco Distributors lost 23 cents to close at $2.46, with 162,701 units crossing the market, Lasco Financial increased 13 cents to $2.50 in an exchange of 518 stocks. Lasco Manufacturing popped 10 cents in closing at $4.15 after trading 39,365 shares, Lumber Depot rallied 8 cents to $2.14 with investors transferring 23,845 stock units, Mailpac Group advanced 8 cents to end at $1.81 after a transfer of 107,962 stock units.
Main Event popped 15 cents in closing at $12 as 7,047 shares passed through the market, Regency Petroleum advanced 8 cents after ending at $1.98 with a transfer of 465,352 units and Tropical Battery increased 14 cents to close at $2.09, with 25,001 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Key Insurance highest ICTOP10 jumps 37%
Stocks dropped to their lowest levels this past week after falling even lower than they did to close of the previous week as investors continue to shun the market, but the time is not far off that Bank of Jamaica will begin lowering interest rates and fuel a market resurgence as they sent the clearest signal that interest rates have not only peaked but will be headed downwards this past week.
The first signs of an easing of rate came this past week with BOJ CDs rates plunging 16 percent to an average of 8.85 percent from over 10 percent where it stood for several months. Importantly, the central bank cut the stock of CDS it holds from a peak of $109.5 billion on March 3, down to $82 billion at the latest auction, far less than from mid-January to the end of February, as more than $58 billion chasing after the $18 billion that was offered last week. While this happened the foreign exchange market looks very liquid with the rate falling under $152 to one US dollar from $155 earlier in February.
Performance in the past week for the Junior Market TOP10 saw only two stocks rising and seven falling, the majority of the declining stocks registering fell by 3 percent or less. General Accident jumped 20 percent to $5.98, but the bids are not there at the close, to support the price, but selling has abated for this stock currently. Everything Fresh rose 9 percent to close at $1.55 and actually traded at $1.65 during the week. Iron Rock Insurance fell 13 percent to $2 and Caribbean Assurance Brokers lost 6 percent to $1.90.
The Main Market TOP10 saw the highest gaining stock rising just 34 percent, after Key Insurance jumped to $3.50 and was followed by 138 Student Living with an 8 percent rise to $5.40, but Caribbean Producers dropped 8 percent to $9.07. All other movements were 3 percent or less.
The Junior Market has a long term pattern, with the market starting to rise around a month before quarterly results are due and declining shortly after results are released. This is a pattern worth noting that can be built into investment decisions that can improve returns.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.5, well below the market average of 13.2, while the Junior Market Top 10 PE sits at 5.9 compared with the market at 10.6. The differences are important indicators of the level of likely gains for ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main Market TOP10 an average of 274 percent, to May 2024, based on 2023 forecasted earnings.
The Junior Market has 9 stocks representing 19 percent of the market, with PEs from 15 to 24, averaging 19, well above the average of the market. The top half of the market has an average PE of 15, suggesting that this may be a logical value for junior market stocks currently.
The Main Market 16 most valued stocks are priced at a PE of 15 to 100, with an average of 29 and 19 excluding the highest valued stocks and 18 for the top half excluding the stocks with the highest valuation. The above average shows the extent of potential gains for the TOP 10 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 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.