Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday with the volume of stocks traded rising 28 percent and the value 50 percent more than on Wednesday from trading in 43 securities compared with 47 on Wednesday and ended with 20 rising, 15 declining and 8 closing unchanged.
A total of 9,243,451 shares were exchanged for $25,870,454 compared with 7,248,801 units at $17,264,479 on Wednesday.
Trading averaged 214,964 shares at $601,638 compared to 154,230 units at $367,329 on Wednesday with the month to date averaging 183,247 units at $479,277. February closed with an average of 318,024 units at $782,332.
Derrimon Trading led trading with 2.94 million shares for 31.8 percent of total volume followed by Regency Petroleum with 873,522 units for 9.5 percent of the day’s trade and Spur Tree Spices with 848,566 units for 9.2 percent market share.
At the close, the Junior Market Index dropped 13.80 points to settle at 3,876.80.
The PE Ratio, a measure of computing appropriate stock values, averages 11.8. 
The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial declined $3.83 to close at $21.76 in an exchange of 28 shares, Cargo Handlers fell $2 to end at $13 after trading 248,397 stock units, Caribbean Cream dipped 19 cents to $3.30 with a transfer of 2,000 stocks. Dolphin Cove gained 47 cents in closing at $14.98 with the swapping of 1,480 units, Express Catering rallied 17 cents to $5.50 as investors exchanged 23,487 stocks, 
Future Energy Source fell 15 cents to end at $4.60 in switching ownership of 553,438 shares. Honey Bun lost 11 cents to end at $7.29 with the swapping of 4,888 units, Iron Rock Insurance rose 30 cents to $2.30 with 5 stock units changing hands, JFP Ltd lost 10 cents to close at $1.60 trading 645,983 stock units. Lasco Distributors gained 9 cents in closing at $2.79 with a transfer of 1,200 shares, Lumber Depot popped 18 cents to end at $2.43 after 79,209 units passed through the market, MFS Capital Partners dipped 31 cents to $3.50 in switching ownership of 544,484 stocks. Paramount Trading advanced 14 cents to $2.19 in transferring 2,009 units, 
Stationery and Office Supplies gained 20 cents to close at $13.98 with an exchange of 13,011 stocks and tTech rose 10 cents to $2.65 after 5 shares cleared the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New month bounce for Junior Market
The Junior Market of the Jamaica Stock Exchange closed on Wednesday starting the new month positively with the Market Index climbing 53.30 points to 3,890.60 even as the volume of stocks traded declined 54 percent and the value 62 percent lower than on Tuesday after 47 securities changed hands compared to 46 on Tuesday and closed with 25 rising, 18 declining and 4 unchanged.
A total of 7,248,801 shares were traded for $17,264,479 compared to 15,831,268 units at $44,907,966 on Tuesday.
Trading averaged 154,230 shares at $367,329 down from 344,158 units at $976,260 on Tuesday. February closed with an average of 318,024 units at $782,332.
Regency Petroleum led trading with 2.97 million shares for 41 percent of total volume followed by Fosrich with 882,264 units for 12.2 percent of the stocks trading and Image Plus Consultants with 562,434 units for 7.8 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 11.8, The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial fell 36 cents to close at $25.59 with 5,228 shares being traded, Cargo Handlers popped 49 cents in closing at $15 after 2,048 stock units cleared the market, Caribbean Cream gained 18 cents to finish at $3.49 following investors trading 76 units. Caribbean Flavours rallied 25 cents to $1.70 with 78 stocks changing hands, Consolidated Bakeries lost 24 cents to end at $2.18 in switching ownership of 5,065 stock units, Dolla Financial shed 11 cents to end at $2.85 in an exchange of 105,206 stocks. Fosrich lost 11 cents ending at $2.99 with the swapping of 882,264 units, General Accident rose 39 cents in closing at $4.99 with 8,097 shares changing hands, Iron Rock Insurance fell 30 cents to $2 after a transfer of 50 shares. ISP Finance gained 51 cents to settle at $21 after switching ownership of 1,500 stocks, JFP Ltd dipped 25 cents to $1.70 in trading 487,595 units, Knutsford Express declined $1.13 to $11.87 after exchanging 7,445 stock units. 
Lasco Distributors lost 9 cents to finish at $2.70 with investors transferring 31,250 stock units, Lasco Financial advanced 28 cents to end at $2.74 in exchanging 750 stocks, Lasco Manufacturing gained 25 cents in closing at $4.22, with investors transferring 16,549 shares. Limners and Bards popped 10 cents to end at $2.75 with the swapping of 5,417 units, Lumber Depot dipped 15 cents to $2.25 after 54,162 stock units were traded, Main Event rose 75 cents to close at $11.95 with an exchange of 51,844 units. Medical Disposables shed 29 cents in closing at $4.85, with 5,300 shares changing hands, Regency Petroleum fell 52 cents to end at $1.91 after investors traded 2,970,829 stocks, following release of full year results, showing higher administrative costs that wiped out increased gross profit and Spur Tree Spices shed 23 cents in closing at $2.75 exchanging 348,494 shares.
In the preference segment, CAC 2000 9.5% preference share gained 8 cents to end at $1.08 with a transfer of 294 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Month end gain for Junior Market
The Junior Market of the Jamaica Stock Exchange squeezed out a modest gain on Tuesday to close out the month after a 75 percent rise in the volume of stocks traded, with an 82 percent increase in value compared with Monday, after 46 securities changed hands, up from with 42 on Monday and ended with prices of 22 rising, 15 declining and nine trading unchanged.
A total of 15,831,268 shares were exchanged for $44,907,966 up from 9,033,630 units at $24,644,140 on Monday.
Trading averaged 344,158 shares at $976,260 up from 215,086 units at $586,765 on Monday, with trading month to date averaging 318,024 units at $782,332 compared with 316,508 stock units at $771,083 on the previous day. Trading in January averaged 239,755 shares at $646,375.
JFP Ltd led trading with 3.02 million shares for 19.1 percent of total volume, followed by Fosrich with 2.13 million units for 13.4 percent of the day’s trade, Indies Pharma with 1.73 million units for 10.9 percent, Dolla Financial with 1.71 million units for 10.8 percent market share, Spur Tree Spices with 1.56 million units for 9.9 percent and Regency Petroleum with 1.39 million units for 8.8 percent market share.
At the close, the Junior Market Index gained 27.43 points to settle at 3,837.30.
The PE Ratio, a measure of computing appropriate stock values, averages 12.2. PE ratios of Junior Market stocks are computed using the last traded 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 13 stocks ending with bids higher than their last selling prices and 3 with lower offers.
At the close, Access Financial climbed $2.95 to $25.95 after an exchange of 38,787 shares, AMG Packaging lost 10 cents ending at $2.60 after it traded at an intraday 52 weeks’ low of $2.25 and transferring 282,294 stock units, Blue Power gained 15 cents in closing at $2.43 with investors trading 680 units. Cargo Handlers advanced $1.24 to $14.51 with an exchange of 227 stocks, Caribbean Cream shed 19 cents to close at $3.31 after 77,875 stocks passed through the market, Caribbean Flavours dipped 20 cents to close at a 52 weeks’ low of $1.45 with 4,170 shares changing hands. 
Consolidated Bakeries popped 22 cents in closing at $2.42 after a transfer of265 stock units, Dolphin Cove declined 64 cents to $14.56 as investors exchanged 87,758 units, Future Energy Source rallied 15 cents to end at $4.70 with the swapping of 385,383 units. iCreate gained 8 cents in ending at $1.79 after investors exchanged 35,554 stock units, Indies Pharma rose 15 cents to $3.05 in switching ownership of 1,731,974 shares, JFP Ltd gained 23 cents to close at $1.95 in trading 3,024,280 stocks. Knutsford Express advanced $2.90 to a 52 weeks’ high of $13 in an exchange of 111,135 shares, Lasco Distributors gained 9 cents to end at $2.79 with the swapping of 131,491 units, Limners and Bards popped 15 cents in closing at $2.65 with 12,735 stocks changing hands. Lumber Depot rose 13 cents ending at $2.40 with a transfer of 251,965 stock units, Main Event dipped 64 cents to $11.20 after exchanging 111 stock units, Medical Disposables popped 29 cents to finish at $5.14 after trading 18 stocks. 
Regency Petroleum rallied 24 cents in closing at a record high of $2.43 with 1,393,928 shares crossing the exchange, Spur Tree Spices rose 18 cents to close at $2.98 in switching owners of 1,559,762 units and Tropical Battery gained 12 cents to end at $2.34 trading 339,627 stock units.
In the preference segment, CAC 2000 9.5% preference share lost 12 cents ending at $1 in exchanging 1,366 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on Junior Market
Stocks traded on Monday with rising stocks edging out declining ones on the Junior Market of the Jamaica Stock Exchange, with the volume falling 72 percent and the value dropping 73 percent compared with Friday that included the block of 26 million Fosrich shares that were traded as the market closed with trading in 42 securities, down from 48 on Friday and ended with 17 rising, 16 declining and 9 closing unchanged.
A total of 9,033,630 shares were traded for $24,644,140, down from 32,804,091 units at $91,381,630 on Friday.
Trading averaged 215,086 shares at $586,765 compared to 683,419 units at $1,903,784 on Friday, with the month to date averaging 316,508 units at $771,164 versus 322,180 stock units at $781,477 on the previous trading day. January closed with an average of 239,755 units at $646,375.
Fosrich led trading with 3.40 million shares for 37.6 percent of total volume followed by Regency Petroleum with 1.12 million units for 12.4 percent of the day’s trade and MFS Capital Partners with 767,223 units for 8.5 percent market share.
At the close, the Junior Market Index popped 8.41 points to settle at 3,809.87.
The PE Ratio, a measure used to compute appropriate stock values, averages 11.6. 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 advanced $1 to $23 as investors exchanged 2,637 shares, Blue Power dipped 15 cents to $2.28 with a transfer of 442 units, Caribbean Cream popped 20 cents to close at $3.50 with an exchange of 5,800 stocks. Dolphin Cove dipped 10 cents to $15.20 with 740 stock units changing hands, 
Elite Diagnostic gained 26 cents to settle at $2.71 after 27,851 units passed through the market, Fosrich rose 10 cents to $3.09 as investors traded 3,395,464 stocks. General Accident shed 38 cents to end at $4.61 with a transfer of 6,100 shares, Honey Bun gained 27 cents to finish at $7.37 in exchanging 878 stock units, iCreate lost 8 cents to close at $1.71 in switching ownership of 66,005 stocks. Indies Pharma rallied 11 cents in closing at $2.90 with the swapping of 20,635 units, JFP Ltd gained 12 cents to close at $1.72 in an exchange of 554,074 stock units, Knutsford Express declined $1 to $10.10 in trading just 505 shares. Lasco Distributors popped 10 cents in ending at $2.70 with an exchange of 216,724 stock units, Lasco Financial lost 29 cents in closing at $2.46 with investors transferring 95,902 stocks, Main Event advanced $1.04 to $11.84 with 1,558 shares changing hands. 
Regency Petroleum gained 24 cents in ending at a record $2.19 after 1,116,676 units passed through the market, Stationery and Office Supplies dipped 30 cents to end at $13.70 in switching ownership of 1,093 stocks and Tropical Battery lost 8 cents in closing at $2.22 while trading 132,449 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Elite out Tropical back in ICTOP10
The Main Market of the Jamaica Stock Exchange closed the past week with gains in the indices. Still, the Junior Market suffered a significant loss on Friday to close the week with a loss following a sizable fall in the price of Fosrich. This most heavily weighted Junior Market stock fell from an average price of $3.20 at the previous week’s close down to $2.63.
ICTOP10 has only one new addition this week, in the Junior Market TOP10 and none in the Main Market, following major volatility in price movements in the listings.
In closing out the week, Iron Rock Insurance led stocks rising, with a gain of 13 percent to $2.30, followed by General Accident, that rose 6 percent to $4.99, while Main Event put on 4 percent to land at $10.80. Elite Diagnostic fell 21 percent to $2.45 as demand vanished for the stock following release of poor second quarter results. Paramount Trading fell 9 per cent to $2, Image Plus and Lasco Distributors dipped 5 percent to $1.90 and $2.60, respectively.
Five stocks rose in the Main MarketTOP10, with the price of Key Insurance rising 7 percent to $3.20, Sygnus Credit Investments rose 5 percent to $12.57, while 138 Student Living and Scotia Group popped 4 percent higher to $5.01 and $34.20, respectively. Berger Paints dropped 8 percent to $9.25, Caribbean Producers, Guardian Holdings and Jamaica Broilers lost 3 percent.
Earnings per share for Elite Diagnostic was revised down to 28 cents per share for the current year, following a small loss of $7 million in the December quarter, even as revenues rose a solid 20 percent or $30 million over the same quarter in 2021, resulting in the stock dropping out of the ICTOP10, to be replaced by Tropical Battery that is returning after a short absence.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.4, well below the market average of 13.7, while the Junior Market Top 10 PE sits at 6.5 compared with the market at 11.6. The differences are important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 213 percent and the Main Market TOP10 by an average of 288 percent to May this year, assuming the market gets back to last year’s valuation. The primary concern for the Main Market achieving such gains by May is that the list is dominated by financial companies that are out of favour and may need to get to the summer months before the full interest of investors is visible.
The Junior Market has 13 stocks representing 27 percent of the market, with PEs from 15 to 27 averaging 19 compared with the above average of the market. The top half of the market has an average PE of 17. The above average shows the extent of potential gains 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 109, with an average of 32 and 23 excluding the highest valued stocks and 21 for the top half excluding the highest valued 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 will likely deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Fosrich dominated Junior market trading
Fosrich dominated trading on the Junior Market of the Jamaica Stock Exchange Friday with more than 26 million shares changing hands and played a major role in the market dropping 60 points after it opened up above 3,900 points in the morning session. Information gleaned is that Stocks and Securities offloaded 22 million units at around $2.60. 
The block of Fosrich shares pushed up the volume of stocks traded by 262 percent and the value 254 per cent more than on Thursday, with 48 securities trading up from 45 on Thursday and ended with prices of 17 stocks rising, 19 declining and 12 unchanged.
A total of 32,804,091 shares were exchanged for $91,381,630 up from 9,069,058 units at $25,793,774 on Thursday.
Trading averaged 683,419 shares at $1,903,784 up from 201,535 units at $573,195 on Thursday with the month to date averaging 322,180 units at $781,477 versus 297,515 stock units at $704,847 on the previous day. January closed with an average of 239,755 units at $646,375.
Fosrich led trading with 26.09 million shares for 79.5 percent of total volume followed by Lasco Financial with 995,363 units for 3 percent of the day’s trade and Dolla Financial with 754,563 units for 2.3 percent market share.
At the close, the Junior Market Index fell 60.43 points to 3,801.46.
The PE Ratio, a measure of computing appropriate stock values, averages 11.6. The PE ratios of Junior Market stocks are 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 eight stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial lost 90 cents in closing at $22 with a transfer of 3,332 shares, AMG Packaging popped 20 cents to $2.70 in trading 38,207 stock units, Blue Power rallied 15 cents to $2.43 in switching ownership of 2,160 stocks. Cargo Handlers declined $1.68 to $13.27 with an exchange of 6,951 units, Caribbean Cream shed 19 cents to close at $3.30 after transferring a mere 400 stocks, 
Consolidated Bakeries dipped 29 cents to close at $2.20 after trading 1,540 stock units. EduFocal lost 8 cents to end at $2.12 with 332,545 units changing hands, Elite Diagnostic shed 65 cents to a 52 weeks’ low of $2.45 with investors swapping 67,561 shares, Fontana fell 16 cents to end at $8.63 with an exchange of 16,122 shares. Fosrich lost 11 cents in closing at $2.99 with the swapping of 26,088,566 stock units, with the price hitting an intraday 52 weeks’ low of $2.50, Future Energy Source dipped 17 cents to $4.53 with 678,920 units changing hands, GWest Corporation gained 10 cents in ending at $1.02 in transferring 186 stocks. Honey Bun declined 32 cents to end at $7.10 trading 11,435 units, Indies Pharma advanced 19 cents to $2.79 in switching ownership of 615,619 shares, ISP Finance dropped $7.45 to settle at $20.49 after an exchange of 3,200 stock units. Knutsford Express rose 30 cents to end at $11.10, with 503,687 stocks clearing the market, Lasco Financial gained 30 cents to close at $2.75 as investors exchanged 995,363 stock units, 
Limners and Bards shed 20 cents in closing at $2.50 in an exchange of 2,700 shares. Lumber Depot popped 8 cents to end at $2.27 after a transfer of 18,960 stocks, Mailpac Group rallied 15 cents to $2.05 with the swapping of 86,536 units, MFS Capital Partners lost 13 cents to close at $3.78 trading 389,770 shares and Stationery and Office Supplies fell 90 cents to $14 after 23,543 units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading rises on Junior Market as index gains
Trading activities climbed on the Junior Market of the Jamaica Stock Exchange Thursday, with the volume of stocks changing hands rising 14 percent at a moderately higher value than Tuesday from trading in 45 securities, up from 40 on Tuesday and ending with 16 rising, 20 declining and 9 closing unchanged.
A total of 9,069,058 shares were traded for $25,793,774 compared to 7,929,253 units at $24,724,504 on Tuesday.
Trading averaged 201,535 shares at $573,195, compared to 198,231 units at $618,113 on Tuesday, with the month to date averaging 297,515 units at $704,847 compared with 304,079 stock units at $713,850 on Tuesday, the previous trading day. January closed with an average of 239,755 units at $646,375.
Fosrich led trading with 2.24 million shares for 24.7 percent of total volume, followed by Image Plus Consultants with 1.65 million units for 18.2 percent of the day’s trade and ONE on ONE Educational with 858,678 units for 9.5 percent market share.
At the close, the Junior Market Index rallied 17.71 points to end at 3,861.89.
The PE Ratio, a measure used to compute appropriate stock values, averages 12. The PE ratios of Junior Market stocks are calculated using the last traded stock price in conjunction with ICInsider.com’s projected earnings for financial years ending from November 2022 to August 2023.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial lost 9 cents to close at $22.90 after exchanging 28 shares, AMG Packaging shed 21 cents ending at $2.50 with a transfer of 10,587 stock units, Dolphin Cove rallied 70 cents in closing at $15.28 after trading 45,067 stocks.EduFocal popped 33 cents to end at $2.20 with 3,084 units changing hands, Express Catering rose 30 cents to $5.30 with the swapping of 161,350 stock units, 
Fontana fell 10 cents to $8.79 in transferring 57,625 shares. GWest Corporation slipped 12 cents to 92 cents after an exchange of 57,562 units, Knutsford Express declined 30 cents to $10.80 with investors transferring 2,271 stocks, Lasco Distributors fell 10 cents in closing at $2.60 with 41,568 stocks changing hands. Lasco Manufacturing lost 7 cents in closing at $4 after an exchange of 31,913 shares, Lumber Depot climbed 7 cents to $2.19 after 49,469 stock units changed hands, Main Event gained 25 cents to end at $10.80 with 174,381 stock units crossing the market. Medical Disposables dipped 35 cents to $4.80 in trading 2,128 shares, Paramount Trading shed 20 cents in ending at $2 in switching ownership of 33,560 units,
Regency Petroleum popped I cent higher in closing at a record of $2 trading 385,688 shares and Stationery and Office Supplies lost 10 cents to close at $14.90 after 51,537 units cleared the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady Junior Market
Trading picked up on the Junior Market of the Jamaica Stock Exchange Tuesday with a 29 percent rise in the volume of stocks with the value rising 51 percent compared to Monday after 40 securities were traded compared with 48 on Monday and ended with 16 rising, 16 declining and 8 closing unchanged.
A total of 7,929,253 shares were traded for $24,724,504 compared to 6,142,842 units at $16,297,687 on Monday.
Trading averaged 198,231 shares at $618,113 compared to 127,976 units at $339,535 on Monday with the month to date averaging 30,079 units at $713,850 compared to 310,930 stocks at $720,046 on the previous day. January closed with an average of 239,755 units at $646,375.
Image Plus Consultants led trading with 1.36 million shares for 17.2 percent of total volume followed by Fosrich with 1.34 million units for 16.9 percent of the day’s trade and Derrimon Trading with 901,655 units for 11.4 percent market share.
At the close, the Junior Market Index slipped just 0.41 points to 3,844.18.
The PE Ratio, a measure of computing appropriate stock values, averages 11.9. The PE ratios of Junior Market stocks are computed using the last traded 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 six stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Blue Power rallied 8 cents to end at $2.30 after a transfer of 7,701 shares, Caribbean Assurance Brokers climbed 13 cents to $2.08 after an exchange of 1,709 stocks, Derrimon Trading shed10 cents to $2 with the swapping of 901,655 units. Dolla Financial popped 11 cents to close at $2.98 after trading 519,368 stock units, 
Dolphin Cove rallied 13 cents to $14.58 as investors exchanged 2,297 shares, EduFocal dropped 33 cents to $1.87 with 226,226 stocks clearing the market. Elite Diagnostic rose 30 cents to $3.10 in switching ownership of 1,000 stock units, Express Catering lost 8 cents after ending at $5 with 5,500 units changing hands, Fosrich fell 28 cents to close at $3.06 with 1,343,496 shares crossing the market. iCreate dipped 10 cents to end at $1.80 with investors transferring 103,487 stocks, Image Plus Consultants lost 8 cents to finish at $1.90 in exchanging 1,360,944 stock units, Limners and Bards advanced 30 cents to $2.70 in trading 152,493 units. Lumber Depot fell 20 cents in closing at $2.12 in an exchange of 24,150 stocks and 
Main Event climbed $1.35 to $10.55 with a transfer of 612,570 shares.
In the preference segment, CAC 2000 9.5% preference share rose 18 cents to $1.18 trading 10 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading drops
Trading activity dropped noticeably on Monday at the close of the Junior Market of the Jamaica Stock Exchange with a 41 percent fall in the number of shares exchanged with a 37 percent lower value than on Friday after investors traded 48 securities compared with 49 on Friday and ended with 17 rising, 21 declining and 10 unchanged.
A total of 6,142,842 shares were exchanged for $16,297,687, down from 10,473,528 units at $25,758,434 on Friday.
Trading averaged 127,976 shares at $339,535 compared with 213,745 units at $525,682 on Friday, with the month to date averaging 310,930 units at $720,046 compared to 326,336 stock units at $752,089 on the previous trading day. January closed with an average of 239,755 shares at $646,375.
Image Plus Consultants led trading with 649,400 shares for 10.6 percent of total volume, followed by Fosrich with 640,039 units for 10.4 percent of the day’s trade and Regency Petroleum with 607,675 units for 9.9 percent market share.
At the close, the Junior Market Index advanced 4.33 points to 3,844.59.
The PE Ratio, a measure of computing appropriate stock values, averages 12. The PE ratios of Junior Market stocks are calculated using the last traded prices 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 ending with bids higher than their last selling prices and seven with lower offers.
At the close, AMG Packaging dipped 9 cents in closing at $2.71 after an exchange of 102 shares, Blue Power rose 17 cents to close at $2.22 after a transfer of 21,246 units as the price hit an intraday 52 weeks’ low of $2.01, Cargo Handlers popped $2.01 in ending at $15 as investors traded 9,750 stocks. Caribbean Assurance Brokers fell 14 cents to $1.95 after an exchange of 3,491 stock units, Caribbean Cream gained 20 cents to end at $3.50 with 554 stock units changing hands, Dolphin Cove shed 51 cents to close at $14.45 with the swapping of 8,650 units. 
Elite Diagnostic shed 30 cents to end at $2.80 with a transfer of 6,682 shares, Fosrich popped 13 cents to settle at $3.34 after 640,039 stocks were traded, Future Energy Source gained 9 cents to close at $4.69 after an exchange of 383,036 shares. General Accident rallied 25 cents to end at $4.95 after 34,920 stocks crossed the market. Indies Pharma lost 21 cents to finish at $2.58 with 108,294 stock units changing hands, Iron Rock Insurance gained 27 cents in closing at $2.30 with investors transferring 83,263 units. Lasco Manufacturing advanced 10 cents in ending at $4.10 after 11,665 units were traded, Limners and Bards declined 28 cents to close at $2.40 after 293,713 stocks passed through the market, Main Event dropped $1.20 to end at $9.20 while exchanging 330 shares. Medical Disposables popped 35 cents to close at $5.15 in switching ownership of 851 stock units, 
Spur Tree Spices declined 15 cents in closing at $2.74 in transferring 54,347 units, Stationery and Office Supplies gained 15 cents after ending at $15 with the swapping of 4,345 stocks and Tropical Battery shed 20 cents to settle at $2.20 with an exchange of 542,594 stock units.
In the preference segment, CAC 2000 9.5% preference share dipped 18 cents to $1, with 5,387 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More ICTOP10 additions
ICTOP10 has two new additions this week, all are Junior Market stocks, following modest price changes in the listings this past week, but the Main Market had mostly significant losses as that market hit a new low for the year during the week.
In closing out the week, Lasco Distributors rose 6 percent to $2.75, while Tropical Battery gained just 4 percent to $2.40. Iron Rock Insurance fell 15 percent to $2.03, the only declining stock above one percent.
Four stocks rose in the Main Market TOP10, with NCB Financial and Jamaica Broilers increasing 4 percent to $77.99 and $33.90, respectively. Caribbean Producers plunged 10 percent to $9.72 as investors reacted negatively to a near US$2m negative swing in second quarter profit on higher revenues that were up 16 percent in the period, JMMB Group lost 8 percent to close at $30.80, Key Insurance fell 7 percent to $3, but 138 Student Living and Scotia Group dropped 4 percent to $4.80 and $32.95 respectively.
Honey Bun rose modestly for the week and, along with Tropical Battery, climbed out of the Junior Market ICTOP10, allowing Lasco Manufacturing and Paramount Trading to return to the ICTOP10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.4, well below the market average of 13.6, while the Junior Market Top 10 PE sits at 6.3 compared with the market at 12, important indicators of the level of the undervaluation of the ICTOP10 stocks.
The Junior Market is projected to rise by 220 percent and the Main Market TOP10 by an average of 288 percent to May this year. The primary concern for the Main Market achieving such gains by May is that the list is dominated by financial companies that are out of favour and may need to see the summer months before the full interest of investor start to show.
The Junior Market has 14 stocks representing 29 percent of the market, with PEs from 15 to 28, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 17. The above average shows the extent of potential gains 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 90, with an average of 33 and 25 excluding the highest valued stocks and 25 for the top half excluding the highest valued 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 will likely deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.