Junior Market trading closed on the Jamaica Stock Exchange on Thursday, with the volume of stocks traded declining marginally, but the value climbed 26 percent over Wednesday’s trades, with 41 securities trading down from 44 on Wednesday and ended with 18 rising, 14 declining and nine closing unchanged.
Investors traded 6,285,227 shares for $22,042,267 versus 6,618,235 units at $17,556,220 on Wednesday.
Trading averaged 153,298 shares at $537,616 against 150,414 stock units at $399,005 on Wednesday, with month to date averaging 259,843 units at $825,187 compared with 268,341 stock units at $848,125 on Wednesday, the previous trading day. September averaged 470,099 units at $1,578,447.
Lasco Manufacturing led trading with 2.03 million shares for 32.3 percent of total volume, followed by Dolla Financial with 1.24 million units for 19.7 percent of the day’s trade and ONE on ONE Educational with 463,108 units for 7.4 percent market share.
At the close, the Junior Market Index dropped 34.34 points to 4,107.54. The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial advanced 11 cents to close at $20.30 after an exchange of ten shares, Cargo Handlers increased 34 cents to $13.34 after a transfer of 2,004 stocks, Dolla Financial lost 14 cents to end at $3.30 in an exchange of 1,237,664 stock units. Elite Diagnostic popped 17 cents in closing at $3.59 in trading 15,172 units, Fontana climbed 24 cents to $9.40 with 36,521 stocks changing hands, Future Energy Source rallied 15 cents in closing at $5.50 as investors exchanged 132,818 units. Honey Bun gained 48 cents in ending at $8.10, with 16,661 stock units crossing the market, ISP Finance shed $5 to close at a 52 weeks’ low of $15 after exchanging 400 shares, Knutsford Express rose 35 cents to end at a 52 weeks’ high of $9.35 after trading 30,139 stock units. Lasco Distributors fell 15 cents to $2.84 with the swapping of 8,336 shares, Lasco Manufacturing rallied 45 cents to $4.75 in switching ownership of 2,030,085 units, Lumber Depot advanced 11 cents to close at $2.90 while exchanging 71,107 stocks. 
Main Event increased 10 cents to $8.50, with 45,075 shares changing hands, Stationery and Office Supplies popped 79 cents to $15.99, with 39,501 units clearing the market and tTech declined 35 cents in closing at $2.70, with 7,000 stock units passing through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market lifted by steady trading
There was little change between the volume and value of stocks traded on the Junior Market of the Jamaica Stock Exchange Wednesday, compared to w trading on Tuesday and ended with 44 securities changing hands versus 43 on Tuesday and leading to prices of 24 rising, 15 declining and five closing unchanged.
A total of 6,618,235 shares were exchanged for $17,556,220 up from 6,590,370 units at $16,862,106 on Tuesday.
Trading averaged 150,414 shares at $399,005 down from 153,264 shares at $392,142 on Tuesday with month to date, averaging 268,341 units at $848,125 versus 279,381 stock units at $890,170 on Tuesday the previous day. September closed with an average of 470,099 units at $1,578,447.
ONE on ONE Educational led trading with 1.57 million shares for 23.7 percent of total volume followed by Dolla Financial with 1.04 million units for 15.7 percent of the day’s trade and JFP Limited with 708,690 units for 10.7 percent market share.
At the close, the Junior Market Index rose 24.95 points to settle at 4,141.88.
The PE Ratio, a measure of computing appropriate stock values, averages 12.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year 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, Access Financial dropped $3.81 in closing at $20.19, with 23 shares changing hands, AMG Packaging climbed 10 cents to $3.60 after trading 454,722 stock units, Caribbean Assurance Brokers rose 15 cents to $2.60 in exchanging 441,293 stock units. Consolidated Bakeries declined 19 cents to $2.51 after an exchange of 38,248 units, Dolla Financial rallied 14 cents to $3.44 in trading 1,040,889 shares, Elite Diagnostic fell 15 cents to close at $3.42 with a transfer of 101,812 stock units. Fontana lost 24 cents to end at $9.16, with 42,852 units clearing the market, Future Energy Source popped 22 cents to $5.35 with the swapping of 301,333 stocks, iCreate rallied 13 cents to $2.24, with 291,871 stock units crossing the market. Knutsford Express rose 10 cents in closing at a 52 weeks’ high of $9 after trading 5,620 shares, Lasco Distributors gained 18 cents to end at $2.99, with 19,778 stocks changing hands, Limners and Bards rallied 10 cents to $2.60 after exchanging 400 units. Main Event rose 60 cents in ending at $8.40 after an exchange of 15,612 stocks, 
MFS Capital Partners dipped 29 cents in closing at $2.67, with 104,000 shares crossing the market, Spur Tree Spices advanced 10 cents to close at $3.65 after a transfer of 57,347 stock units. Stationery and Office Supplies increased 15 cents to $15.20 with investors transferring 6,878 units and tTech shed 24 cents in closing at $3.05 after finishing the trading of 146 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rises on lower volume
Trading activity fell on the Junior Market of the Jamaica Stock Exchange on Tuesday, with the volume of stocks traded declining 44 percent and the value 50 percent lower than on Friday following activities in 43 securities versus 42 on Friday and ended with 13 rising, 18 declining and 12 closing unchanged.
A total of 6,590,370 shares were traded for $16,862,106 versus 11,685,238 units at $33,419,102 on Friday.
Trading averaged 153,264 shares at $392,142, down from 278,220 shares at $795,693 on Friday, with the month to date averaging 279,381 units at $890,170 versus 292,081 shares at $940,323 on Friday, the previous trading day. September’s trading averaged average 470,099 units at $1,578,447.
Paramount Trading led trading with 2.20 million shares for 33.3 percent of total volume, followed by JFP Limited with 836,066 units for 12.7 percent of the day’s trade and Dolla Financial with 817,803 units for 12.4 percent market share.
At the close, the Junior Market Index increased 17.73 points to settle at 4,116.93.
The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial advanced 75 cents to $24 with investors transferring 3,520 shares, Cargo Handlers dipped 30 cents to end at $13 in switching ownership of 5,171 stocks, Consolidated Bakeries rose 29 cents to close at $2.70 after an exchange of 6,882 stock units. Everything Fresh fell 29 cents to $1.51 after trading 76,244 units, GWest Corporation declined 10 cents in closing at $1 with a transfer of 61,102 units, Honey Bun shed 18 cents to $7.62 with an exchange of 1,376 stock units. Indies Pharma rallied 10 cents in closing at $2.99, with 7,507 shares crossing the market, Knutsford Express increased 40 cents to close at $8.90 after investors traded 16,011 stocks, Lasco Manufacturing popped 10 cents in ending at $4.30 after a transfer of 28,244 shares. Limners and Bards lost 22 cents to end at $2.50, with 77,425 stocks changing hands, Lumber Depot dropped 15 cents to $2.70 after trading 33,048 stock units, Main Event lost 60 cents to close at $7.80 while exchanging 21,030 units. 
MFS Capital Partners climbed 26 cents to end at $2.96 in trading 225,685 units, Paramount Trading gained 18 cents in closing at $2.04 with the swapping of 2,197,392 stock units and Stationery and Office Supplies dropped 97 cents to $15.05, with 46,463 stocks passing through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ jumps to top ICTOP10 Main Market
In a week when markets closed lower, there were two changes to the IC top 10 lists, with Jetcon Corporation and Lasco Manufacturing falling out and Iron Rock Insurance and Paramount Trading returning as Caribbean Producers surged to the top of the Main Market ICTOP10, following the release of record full year results, with earnings of 6.8 US cents per share or approximately J$1.05, with a projection off J$2.75 for the fiscal year ending June 2023.
Price changes in both markets were relatively small, with Jetcon Corporation gaining 4 percent to close the week at $1.10, while Caribbean Cream declined 6 percent to $4.06 and Dolphin Cove fell by 4 percent to $13. In the Main Market, Sygnus Credit Investments lost 5 percent to end at $13.40, the only noticeable change.
At the end of the week, the average PE for the JSE Main Market TOP10 is 6.2, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.6 versus the market at 12.7, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 263 percent, and the Main Market TOP10 projected to gain an average of 250 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 16 to 37, averaging 21 compared with the above-average market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the main market is similar, with the 15 highest valued stocks priced at a PE of 15 to 80, with an average of 25 and 21 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
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, resulting in weekly movements in and out of the lists. Revisions to gains are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Gains for Junior Market on Friday
The Junior Market of the Jamaica Stock Exchange recorded gains for the first time in six trading days at the close of the market on Friday, with the volume of stocks traded declining 15 percent and the value 8 percent lower than in trading on Thursday following activities in 42 securities versus 40 on Thursday and ended with 15 rising, 18 declining and nine closing unchanged.
A total of 11,685,238 shares were traded for $33,419,102, compared with 13,716,040 units at $36,147,946 on Thursday.
Trading averaged 278,220 shares at $795,693 down from 342,901 stock units at $903,699 on Thursday, with trading month to date averaging 292,081 units at $940,323 compared to 293,594 stock units at $956,101 on the previous day. September closed with an average of 470,099 units at $1,578,447.
EduFocal led trading with 2.67 million shares for 22.8 percent of total volume followed by AMG Packaging with 1.99 million units for 17.1 percent of the day’s trade, JFP Limited ended trading 1.50 million shares for 12.9 percent of stocks traded and ONE on ONE Educational had an exchange of 1.40 million units for 12 percent market share.
At the close, the Junior Market Index rallied 21.06 points to settle at 4,099.20. The PE Ratio, a measure of computing appropriate stock values, averages 12.7. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year 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 popped $3.15 to close at $23.25 while exchanging 443 shares, AMG Packaging dipped 29 cents in closing at $3.50 with a transfer of 1,994,316 units, following the release of full year results showing profits up 77 percent over 2021. Caribbean Assurance Brokers climbed 15 cents to $2.45 with 24,289 stock units changing hands. Caribbean Cream dipped 33 cents to $4.06, with 4,154 stocks changing hands, Consolidated Bakeries declined 24 cents in ending at $2.41 after trading 11,628 shares, Everything Fresh increased 15 cents to $1.80, with 123,154 stock units crossing the market. GWest Corporation advanced 14 cents to $1.10 with the swapping of 5,300 units, Honey Bun rallied 10 cents to $7.80 but only after trading at an intraday low of $6, and ended with an exchange of 83,330 shares, Indies Pharma lost 14 cents to end at $2.89 after a transfer of 10,336 stocks. 
KLE Group shed 16 cents to close at $1.99 after 203 stock units passed through the market, Knutsford Express gained 50 cents to close at $8.50 in switching ownership of 76,459 units, Lumber Depot rose 15 cents to $2.85 in an exchange of 210,367 shares. Main Event fell 50 cents in closing at $8.40 after trading 877 stocks and MFS Capital Partners fell 15 cents in ending at $2.70 and exchanging 658,300 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading surges
Trading surged on the Junior Market of the Jamaica Stock Exchange on Thursday, with the volume of stocks traded rising 110 percent with a value 69 percent greater than on Wednesday after activities in 40 securities versus 45 on Wednesday and ended with 17 rising, 17 declining and six closing unchanged.
A total of 13,716,040 shares were traded for $36,147,946 up sharply from 6,517,560 units at $21,338,285 on Wednesday.
Trading averaged 342,901 shares at $903,699 against 144,835 units at $474,184 on Wednesday with a month to date, average of 293,594 units at $956,101 compared to 287,877 stock units at $962,177 on the previous day. September closed with an average of 470,099 units at $1,578,447.
Lumber Depot led trading with 4.90 million shares for 35.7 percent of total volume followed by JFP Limited with 2.32 million units for 16.9 percent of the day’s trade and Fosrich with 1.12 million units for 8.2 percent market share.
At the close, the Junior Market Index lost 38.20 points to settle at 4,078.14. The PE Ratio, a measure of computing appropriate stock values, averages 12.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and nine with lower offers.
At the close, Access Financial dropped $5.05 to $20.10 as investors exchanged 17,518 shares, EduFocal rallied 15 cents to close at $2.90 with the swapping of 95,552 units, Express Catering climbed 21 cents in closing at $5.29 crossing the exchange 3,904 stock units. GWest Corporation fell 14 cents to end at 96 cents trading 540 stocks, Honey Bun dipped 30 cents ending at $7.70 in exchanging 13,353 shares, Knutsford Express increased 40 cents to end at $8 after exchanging 30 units. Lasco Manufacturing advanced 17 cents to close at $4.20 while exchanging 28,070 stock units, Lumber Depot lost 25 cents to $2.70 clearing the market with 4,897,823 stocks, Spur Tree Spices popped 10 cents in closing at $3.60 in trading 441,245 stocks. Stationery and Office Supplies rose 99 cents ending at $16 crossing the market 438 units, Tropical Battery declined 16 cents to close at $2.41 with a transfer of 86,072 shares and tTech gained 25 cents to end at $3.30, with 7,093 stock units changing hands.
In the preference segment, CAC 2000 9.5% preference share shed 18 cents ending at $1 with investors transferring 145,936 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
4 straight days decline for Junior Market
The Junior Market declined for a fourth consecutive day at the close of trading on the Jamaica Stock Exchange Wednesday, after the volume of stocks traded fell 25 percent, with a 12 percent lower value than on Tuesday, with 45 securities trading up from 41 on Tuesday and prices of 15 rising, 22 declining and eight closing unchanged.
A total of 6,517,560 shares were traded for $21,338,285 compared to 8,671,745 units at $24,272,423 on Tuesday.
Trading averaged 144,835 shares at $474,184 compared to 211,506 stock units at $592,010 on Tuesday with the month to date, averaging 287,877 units at $962,177 versus 309,333 stock units at $1,035,376 on the previous day. September closed with an average of 470,099 units at $1,578,447.
Spur Tree Spices led trading with 963,598 shares for 14.8 percent of total volume, followed by Lumber Depot with 876,767 units for 13.5 percent of the day’s trade and Future Energy Source with 675,624 units for 10.4 percent market share.
The Junior Market Index dropped 25.60 points to close at 4,116.34.
The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year 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 increased 84 cents to close at $25.15 while exchanging 238 shares, AMG Packaging rallied 20 cents in closing at $3.80 after trading 57,009 stocks, Caribbean Assurance Brokers dipped 16 cents to end at $2.29, with 24,433 stock units changing hands. Consolidated Bakeries rose 22 cents to $2.60, with 1,456 units passing through the market, Dolphin Cove declined 22 cents to $13.75 with investors transferring 1,936 shares, Everything Fresh fell 24 cents to $1.57 in an exchange of 14,205 units. Express Catering lost 21 cents to end at $5.08 after exchanging 14,041 stock units, Fontana climbed 10 cents to $9.40 after a transfer of 94,162 stocks, General Accident shed 15 cents in closing at $5 in switching ownership of 10,243 units. Iron Rock Insurance gained 40 cents to close at $2.50, with 7,132 shares crossing the market, Knutsford Express dropped 40 cents to end at $7.60 with an exchange of 25,870 stock units, Main Event popped $1.19 to $8.90 after investors exchanged 30,824 stocks. 
Paramount Trading lost 17 cents at $1.78, with 54,626 shares clearing the market, Stationery and Office Supplies fell 99 cents to $15.01, with 24,586 units crossing the exchange, Tropical Battery advanced 17 cents to close at $2.57 with a transfer of 58,319 stock units and tTech climbed 45 cents to $3.05 in an exchange of nine no stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market falls for three days
For a third day, the Junior Market of the Jamaica Stock Exchange closed lower on Tuesday, with the volume of stocks traded rising 22 percent, valued 9 percent more than on Monday as trading occurred in 41 securities down from 45 on Monday and ended with 14 rising, 19 declining and eight unchanged.
Investors exchanged 8,671,745 shares at a value of $24,272,423 up from 7,098,706 units at $22,345,448 on Monday.
Trading averaged 211,506 shares at $592,010 compared to 157,749 shares at $496,566 on Monday with month to date, averaging 309,333 units at $1,035,376 compared to 324,819 stock units at $1,105,561 on the previous day. September closed with an average of 470,099 units at $1,578,447.
Tropical Battery led trading with 3.13 million shares for 36.1 percent of total volume followed by ONE on ONE Educational with 1.13 million units for 13 percent of the day’s trade and Fosrich with 859,922 units for 9.9 percent market share.
At the close, the Junior Market Index shed 15.18 points to settle at 4,141.94.
The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging declined 20 cents to $3.60, with 968 shares crossing the market, Consolidated Bakeries dropped 22 cents to $2.38 while exchanging 47,334 stocks, Dolphin Cove increased 97 cents to $13.97, with 571 stock units crossing the market. Fontana gained 28 cents to end at $9.30 with a transfer of 63,071 units, Iron Rock Insurance fell 65 cents to close at $2.10, with an exchange of 640 units, ISP Finance rose $3 to close at $20 in trading four stocks. Knutsford Express climbed 20 cents in closing at $8, as 25,749 shares passed through the market, Lasco Manufacturing fell 17 cents to $4.03 with investors transferring 11,890 stock units, Main Event rallied 14 cents to end at $7.71 as investors exchanged 2,800 stock units. 
MFS Capital Partners shed 10 cents in ending at $2.90 after switching ownership of 56,562 shares, Paramount Trading advanced 17 cents to $1.95 after a transfer of 9,900 stocks, Spur Tree Spices dipped 14 cents in closing at $3.55 with an exchange of 605,286 units. Tropical Battery dropped 19 cents to end at $2.40 after trading 3,127,895 units and tTech lost 50 cents after ending at $2.60 with an exchange of 40,348 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market falls on Monday
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with the volume of stocks traded falling 53 percent with a 44 percent slippage in value compared with Friday after 45 securities were traded versus 42 on Friday and ended with prices of 19 rising, 19 declining and seven closing unchanged.
A total of 7,098,706 shares were traded for $22,345,448 compared to 14,998,187 units at $39,991,106 on Friday. Trading averaged 157,749 shares at $496,566 compared to 357,100 shares at $952,169 on Friday, with month to date, averaging 324,819 units at $1,105,561 compared to 359,951 stock units at $1,233,621 on the previous trading day. September closed with an average of 470,099 units at $1,578,447.
Fosrich led trading with 1.28 million shares for 18 percent of total volume, followed by ONE on ONE Educational with 1.08 million units for 15.2 percent of the day’s trade and Spur Tree Spices with 811,202 units for 11.4 percent market share.
At the close, the Junior Market Index lost 18.77 points to settle at 4,157.12.
The PE Ratio, a measure of computing appropriate stock values, averages 12.7. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year 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, Access Financial fell 84 cents to end at $24.31 after trading 151 shares, AMG Packaging popped 29 cents to close at $3.80 in exchanging three units, Blue Power lost 18 cents in closing at $3.11 with 100 stocks clearing the market. Consolidated Bakeries climbed 23 cents to $2.60 with a transfer of 9,040 stock units, Dolla Financial increased 12 cents to $3.29 after exchanging 507,710 stock units, Dolphin Cove declined $1.36 in ending at $13 with investors transferring 31,661 stocks. EduFocal rose 11 cents to $2.76 in an exchange of 93,179 shares, Elite Diagnostic dipped 11 cents to $3.54 in exchanging 104,320 units, Everything Fresh advanced 23 cents to close at $1.83 as investors exchanged 2,270 stock units. Express Catering gained 23 cents to end at $5.29 after trading 800 shares, Fontana dropped 41 cents to close at $9.02 while exchanging 78,667 units, Fosrich rallied 10 cents to $4.50 in trading 1,277,497 stocks. Future Energy Source shed 40 cents to $5.20 with the swapping of 273,016 stocks, GWest Corporation slipped 17 cents to end at 96 cents 43,182 units crossing the exchange, Knutsford Express lost 20 cents in ending at $7.80 with 24,428 shares changing hands. Main Event declined $1.43 in closing at $7.57 after 940 stock units were traded, Medical Disposables advanced 10 cents to close at $5.11 after a transfer of 55,445 stock units, MFS Capital Partners gained 40 cents in ending at $3 after 116,512 stocks crossed the market. 
Paramount Trading dropped 12 cents to $1.78 in switching ownership of 6,229 units, Stationery and Office Supplies fell 48 cents to $16.01 with 17,354 shares crossing the market, Tropical Battery popped 14 cents to $2.59 with an exchange of 186,284 shares and tTech climbed 13 cents in closing at $3.10, with 45,625 units changing hands.
In the preference segment, CAC 2000 9.5% preference share increased 16 cents to end at $1.17 in exchanging 4,256 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
One Lasco company rejoins ICTOP10
The Main and Junior markets declined during the past week but the US dollar denominated market recorded gains and resulted in Lasco Financial and Iron Rock Insurance falling out of the Junior Market TOP10 but there was no change to the Main Market ICTOP10.
Lasco Manufacturing and Jetcon Corporation return to the ICTOP10.
Action in IC TOP10 stocks saw Iron Rock Insurance gaining 10 percent in the past week to $2.76, Caribbean Cream rising 4 percent to $4.30 and Elite Diagnostic climbing 4 percent to $3.65, while Medical Disposables dropped 14 percent to $5.01, with Lasco Distributors falling 8 percent in the past week to $2.86 and Caribbean Assurance slipping 4 percent to $2.48.
In the Main Market, Berger Paints rose 11 percent to $11.10, followed by Caribbean Producers, with a 9 percent gain to $14.35 and Sygnus Credit Investments rose 5 percent to $14.07. There were no major declines in this market.
At the end of the week, the average PE for the JSE Main Market TOP10 is 6.2, well below the market average of 14, while the Junior Market Top10 PE sits at 5.9 versus the market at 12.7, important indicators of the level of undervaluation of the ICTOP10 stocks. 
The Junior Market is projected to rise by 246 percent and the Main Market TOP10 is projected to gain an average of 235 percent, to May 2023.
The Junior Market has 16 stocks representing a third of the market, with PEs from 13 to 37, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the main market is similar, with the 16 highest valued stocks priced at a PE of 15 to 89, averaging 25.5 and 21 excluding the highest valued one.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting with the market index slowly bouncing off a recent bottom.
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.