Following the closure of trading for the long Easter weekend, the Jamaica Stock Exchange Main Market ended on Tuesday, with declining stocks overpowering winning two to one following a 25 percent fall in the volume of stocks traded declining with a 54 percent drop in value compared to Thursday, with trading in 62 securities compared with 60 on Thursday, with prices of 15 stocks rising, 29 declining and 18 ending unchanged as Radio Jamaica closed at a 52 weeks’ low of $1.20.
The market closed with 11,767,625 shares being traded for $77,270,952 compared with 15,645,101 units at $167,372,295 on Thursday.
Trading averaged 189,800 shares at $1,246,306 compared to 260,752 units at $2,789,538 on Thursday compared to March that closed with an average of 828,473 units at $2,341,254.
Wigton Windfarm led trading with 3.86 million shares for 32.8 percent of the overall volume followed by Transjamaican Highway with 3.42 million units for 29.1 percent of the day’s trade and General Accident with 1.0 million units for 8.5 percent of market share.
The All Jamaican Composite Index sank 1,084.66 points to close trading at 367,499.60, the JSE Main Index declined 135.73 points to settle at 327,662.97 and the JSE Financial Index rallied 0.13 points to 70.38.
The Main Market ended trading with an average PE Ratio of 13.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden jumped $3.50 and ended at $38.50 in an exchange of 150 stocks, Barita Investments lost $1.90 to close at $73 with investors swapping 13,978 units, Berger Paints popped 34 cents to end at $5.84 after 89 shares passed through the market. Caribbean Cement sank $2.70 in closing at $58.80 after an exchange of 3,851 stock units, Eppley rallied 45 cents to close at $34.66 in switching ownership of 472 shares, General Accident increased 35 cents to $5.65 after a transfer of 1,000,151 stock units. Guardian Holdings climbed $6 to close at $366, with 6,179 units changing hands, Jamaica Broilers declined 89 cents to $33.10 in an exchange of 76,126 units. Jamaica Producers fell 98 cents to end at $23 with investors dealing in 7,831 stocks, Jamaica Stock Exchange skidded 43 cents to $10.06, with 99,836 shares crossing the market, JMMB Group dropped $1.49 and ended at $25.01 in trading 150,970 stock units. Key Insurance shed 34 cents to close at $2.23 after an exchange of 3,568 shares, Kingston Properties dipped 40 cents in closing at $8 after 5,065 stock units passed through the market, 
Lasco Manufacturing sank 83 cents to end at $5.25 as investors traded 50,661 stocks. MPC Caribbean Clean Energy dropped $13.50 to $80 with an exchange of 1,532 units, NCB Financial lost $1.95 to end at $64 with investors trading 127,979 shares, Pan Jamaica gained $1 in closing at $50, with 2,572 units crossing the exchange. Seprod skidded 35 cents to close at $84.64 with investors transferring 3,811 stocks, Stanley Motta rose 46 cents and ended at $7.38 with 1,672 stock units clearing the market and Supreme Ventures fell $1.80 to $23 while exchanging 76,105 shares.
In the preference segment, Productive Business Solutions 10.5% preference share dropped $50.99 to end at $1,099.01 with a transfer of 12 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops & prices fall on Main Market
Trading slipped on the Jamaica Stock Exchange Main Market ended on Friday and pulled the Market indices with it after a 95 percent drop in the volume of stocks traded and an 87 percent fall in value compared with that on Thursday, with trading in 55 securities compared with 61 on Thursday and resulted in prices of 18 stocks rising, 23 declining and 14 ending unchanged.
The market closed with an exchange of 25,126,154 shares for $233,060,092, well down from 551,681,523 units at $1,798,734,217 on Thursday.
Trading averaged 456,839 shares at $4,237,456 compared to 9,043,959 units at $29,487,446 on Thursday and month to date, an average of 2,585,174 units at $9,516,984 compared with 3,224,837 units at $11,103,727 on the previous day and March that closed with an average of 828,473 units at $2,341,254.
Carreras led trading with 10.79 million shares for 43 percent of total volume followed by Wigton Windfarm with 5.19 million units for 20.7 percent of the day’s trade, JMMB 9.5% preference share chipped in with 3.01 million units for 12 percent market share, as JMMB Group 7.25% preference share due 2024 ended with 1.66 million units for 6.6 percent total shares traded and GraceKennedy with 1.31 million units for 5.2 percent of the overall volume.
The All Jamaican Composite Index slipped 2,067.87 points to conclude trading at 365,157.55, the JSE Main Index skidded 1,505.24 points to wrap up trading at 326,418.42 and the JSE Financial Index rallied 0.09 points to 70.49.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden gained $3.25 in closing at $39 with an exchange of 314 stock units, Barita Investments lost 63 cents to end at $70, with 8,596 shares crossing the market, Eppley shed $2.49 to end at $37 with a transfer of 302 units. Eppley Caribbean Property Fund rose $2.49 to close at $40 after investors ended trading just two stocks, Jamaica Broilers rallied $1.09 and ended at $33.99 in an exchange of 5,449 shares, Jamaica Producers fell $2.52 to finish at $21.78 with 31,288 stock units clearing the market. Key Insurance dipped 35 cents and ended at $2.22 in trading 552 stocks, Kingston Wharves sank 75 cents to $29.25, with 3,427 units crossing the market, Mayberry Group increased 45 cents to close at $7.37 in an exchange of 1,721 shares. 
NCB Financial skidded 50 cents to end at $64.50 with investors transferring 3,769 units, Scotia Group climbed 35 cents in closing at $47.05 in switching ownership of 193,476 stocks, Seprod shed $4.59 to finish at $78.81 and closed with an exchange of 2,012 stock units. Stanley Motta declined $1.07 to $6.03 after 3,605 shares passed through the market, Supreme Ventures popped 30 cents to finish at $23.80 after an exchange of 28,854 stock units and Wisynco Group dropped 51 cents and ended at $20.51 with investors trading 261,544 stocks.
In the preference segment, Jamaica Public Service 7% advanced $5 to end at $48 with 15 units crossing the exchange and Productive Business Solutions 9.75% preference share fell $9.92 in closing at $95.08 with traders dealing in 920 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Transjamaican steals Main Market spotlight
Trading surged on the Jamaica Stock Exchange Main Market ended on Thursday, with Transjamaican Highway dominating with more than 540 million shares worth $1.756 billion, sending the volume of stocks traded up by a solid 1,967 percent with the value jumping 1,053 percent more than on Wednesday, with trading in 61 securities compared with 60 on Wednesday, with prices of 21 stocks rising, 24 declining and 16 ending unchanged.
The market closed after 551,681,523 shares were traded for $1,798,734,217 compared with 26,696,028 units at $155,976,938 on Wednesday.
Trading averaged 9,043,959 shares at $29,487,446 compared to 444,934 stocks at $2,599,616 on Wednesday. Trading for the month to date, ended with an average of 3,224,837 units at $11,103,727, compared with 315,276 units at $1,911,868 on the previous day and March that closed with an average of 828,473 units at $2,341,254.
Transjamaican Highway led trading with 540.57 million shares for 98 percent of total volume followed by QWI Investments with 4.40 million units for 0.8 percent of the day’s trade, JMMB Group 7.25% preference share due 2024 closed with 1.98 million units for 0.4 percent market share and Wigton Windfarm with 1.42 million units for 0.3 percent of total volume.
The All Jamaican Composite Index climbed 1,625.36 points to lock up trading at 367,225.42, the JSE Main Index jumped 1,510.99 points to close at 327,923.66 and the JSE Financial Index popped 0.43 points to end the day at 70.40.
The Main Market ended trading with an average PE Ratio of 13.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AS Bryden shed $2.75 to close at $35.75 with investors trading 2,332 units, Barita Investments fell $2.27 in closing at $70.63, with 6,503 stocks changing hands, Caribbean Cement declined $2.45 and ended at $56 as investors exchanged 16,470 shares. Caribbean Producers shed 50 cents to finish at $8.90 in trading 98,724 stock units, Eppley Caribbean Property Fund climbed 51 cents to close at $37.51 after an exchange of 117 shares, First Rock Real Estate dropped 43 cents to end at $10 with investors swapping 284,351 stock units. Jamaica Broilers sank 60 cents to $32.90 in an exchange of 104,752 units, Jamaica Producers increased $1.30 to close at $24.30 with investors dealing in 5,026 stocks, Key Insurance popped 36 cents and ended at $2.57 with 2,094 shares clearing the market.
Kingston Wharves skidded 30 cents to finish at $30 with investors transferring 29,870 units, Margaritaville lost $1.02 to end at $15.98 in switching ownership of 3 stocks, Mayberry Group slipped 46 cents in closing at $6.92 after 3,448 stock units passed through the market. NCB Financial advanced $1 to $65 in an exchange of 4,109 shares, Pan Jamaica rose $1.40 and ended at $49.90, with 2,533 stock units crossing the market, Sagicor Group gained 30 cents to finish at $41.50 after a transfer of 18,896 stocks. Scotia Group rallied 80 cents to end at $46.70 after 132,003 units were traded, Supreme Ventures sank 99 cents in closing at $23.50 with a transfer of 15,342 stocks, Sygnus Credit Investments skidded 30 cents to close at $10.50, with 63,922 units crossing the exchange and Sygnus Real Estate Finance fell $2.60 to $10.20 with traders dealing in 242 shares.
In the preference segment, Jamaica Public Service 7% rose 99 cents in closing at $43, with 6 stock units crossing the market, 138 Student Living preference share dipped 53 cents to close at $217.50 after exchanging 2 shares. Productive Business Solutions 10.5 % preference share advanced $11 to finish at $1110 and closed with an exchange of 249 stock units and Sygnus Credit Investments C10.5% popped $1 and ended at $110 with an exchange of 587 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More declines for Main Market
Falling stocks just edged out those rising in trading on the Main Market of the Jamaica Stock Exchange on Wednesday, with trading in 60 securities compared with 62 on Tuesday, with prices of 20 stocks rising, 22 declining and 18 ending unchanged, with a surge of 127 percent in the volume of stocks traded and 102 percent greater value than on Tuesday.
The market closed with an exchange of 26,696,028 shares at $155,976,938 from 11,767,625 units at $77,270,952 on Tuesday.
Trading averaged 444,934 shares at $2,599,616 compared to 189,800 units at $1,246,306 on Tuesday and month to date, an average of 315,276 units at $1,911,868 compared with March that closed with an average of 828,473 units at $2,341,254.
General Accident led trading with 15.0 million shares for 56.2 percent of total volume followed by Wigton Windfarm with 5.39 million units for 20.2 percent of the day’s trade and Transjamaican Highway with 2.76 million stock units for 10.3 percent market share.
The All Jamaican Composite Index lost 1,899.54 points to end trading at 365,600.06, the JSE Main Index fell 1,250.30 points to 326,412.67 and the JSE Financial Index skidded 0.41 points to settle at 69.97.
The Main Market ended trading with an average PE Ratio of 13.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with financial year ending around August 2024.
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, Berger Paints declined 34 cents and ended at $5.50 with investors trading 682 shares, Caribbean Cement lost 35 cents to close at $58.45 in an exchange of 9,434 stocks, Eppley gained $4.83 in closing at $39.49 as investors traded 635 units. Eppley Caribbean Property Fund fell $3 to end at $37 after investors ended trading 3,031 stock units, General Accident popped 35 cents to $6, with 15,003,418 shares crossing the market, Guardian Holdings skidded $6 to $360 in an exchange of 535 stock units. Jamaica Broilers advanced 40 cents and ended at $33.50 with investors dealing in 873,488 stocks, Lasco Distributors rose 54 cents to $4.80 with a transfer of 89,960 units, 
Lasco Manufacturing rallied 53 cents to close at $5.78, with 38,241 shares crossing the exchange. Margaritaville gained $1.02 to end at $17 in trading 596 stock units, MPC Caribbean Clean Energy rose $2.24 to $82.24 after an exchange of 55 units, Pan Jamaica sank $1.50 and ended at $48.50 with investors trading 44,310 stocks. Proven Investments popped 45 cents in closing at $22.45 in switching ownership of 302 units, Scotia Group dropped $1.43 to $45.90 with traders dealing in 2,177 shares, Seprod shed $1.24 to close at $83.40 while exchanging 24,514 stock units and Supreme Ventures increased $1.49 to $24.49 after a transfer of 111,813 stocks.
In the preference segment, Jamaica Public Service 9.5% dropped $200 to close at 52 weeks’ low of $2700 with 196 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market bounces Wednesday
The Junior Market of the Jamaica Stock Exchange recovered a third of the losses incurred on Tuesday at the close of the Wednesday session, with trading in 39 securities down from 45 on Tuesday and ending with prices of 17 rising, 15 declining and seven unchanged, following a 45 percent rise in the volume of stocks traded, after a 39 percent increase in value compared with Tuesday’ trading.
The market closed with trading of 10,446,628 shares for $22,291,796 compared with 7,214,648 units at $16,008,489 on Tuesday.
Trading averaged 267,862 shares at $571,585, compared with 160,326 units at $355,744 on Tuesday with the month to date, averaging 210,253 units at $455,956 compared to March with an average of 221,659 units at $464,382.
Spur Tree Spices led trading with 4.31 million shares for 41.2 percent of total volume followed by JFP Ltd with 990,360 stocks for 9.5 percent of the day’s trade and MFS Capital Partners with 912,316 units for 8.7 percent market share.
At the close of trading, the Junior Market Index rose 21.25 points to close at 3,835.08.
The Junior Market ended trading with an average PE Ratio of 12.7 based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years, ending around August 2024.
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, AMG Packaging rose 33 cents to end at $3.45, with 6,170 stock units changing hands, Blue Power rallied 20 cents in closing at $3 in trading 236 shares, CAC 2000 increased 43 cents to $4.25 after a mere one unit passed through the market. Cargo Handlers climbed 97 cents to $13.97, with 1,092 stocks crossing the exchange, Dolla Financial popped 9 cents to $2.80 after a transfer of 544,654 shares, Dolphin Cove fell 42 cents to $18.98, with 525 stock units crossing the market. Elite Diagnostic gained 8 cents in closing at $1.67 with an exchange of 2,808 shares, Express Catering shed 10 cents to end at $3.70 with 113,522 stocks clearing the market, Honey Bun advanced 31 cents and ended at $7.08 with investors transferring 64,540 units. Image Plus rose 7 cents to close at $1.95 in switching ownership of 281,668 stocks, ISP Finance climbed $6.50 to $31 after exchanging just 17 shares, Jamaican Teas popped 18 cents in closing at $2.68, with 668,933 stock units crossing the market. 
Knutsford Express rallied 9 cents to end at $11.89 with traders dealing in just one share, Lasco Financial dropped 11 cents to close at $1.80 after closing with an exchange of 46,156 stocks, Lumber Depot sank 10 cents and ended at $2.70 with a transfer of 165,200 units. Mailpac Group dipped 13 cents to $2.02 after trading in 84,301 stock units, MFS Capital Partners lost 13 cents in closing at $1.65 with investors dealing in 912,316 shares, Spur Tree Spices skidded 51 cents to end at $2.40 in an exchange of 4,307,450 stock units and Tropical Battery increased 10 cents to $2.20 with investors trading 32,200 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Wednesday, with a 38 percent decline in the volume of stocks traded, following a 43 percent decline in value compared with Tuesday with trading in 44 securities compared with 41 on Tuesday and ending with prices of 14 rising, 
17 declining and 13 closing unchanged following the migration from the Junior Market of Lasco Distributors and Lasco Manufacturing to the Main Market, resulting in 46 listings now on the Junior Market.
The market closed with trading of 7,170,788 shares for $14,644,800 compared with 11,49,682 units at $25,742,485 on Tuesday.
Trading averaged 162,972 shares at $332,836, compared with 280,382 units at $627,865 on Tuesday with the month to date, averaging 190,689 units at $404,736 compared to 192,229 stock units at $408,731 on the previous day and February with an average of 243,917 units at $566,909.
Stationery and Office Supplies led trading with 1.51 million shares for 21 percent of total volume followed by Spur Tree Spices with 1.06 million units for 14.8 percent of the day’s trade and Fosrich with 995,605 stock units for 13.9 percent market share.
At the close of trading, the Junior Market Index popped 13.03 points to end at 3,829.89.
The Junior Market ended trading with an average PE Ratio of 13.5, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
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, Caribbean Assurance Brokers dipped 10 cents to end at $2.15 after exchanging just 3,502 stock units, Dolphin Cove rose 90 cents in closing at $19.40 in switching ownership of 3,252 shares, Express Catering popped 10 cents to $4, with 23,013 units crossing the market. Fosrich popped 9 cents and ended at $2.44 with a transfer of 995,605 stocks, 
Iron Rock Insurance sank 38 cents to close at $2.14 after 45 shares passed through the market, JFP Ltd increased 12 cents to $1.45 with investors transferring 399,930 stocks. KLE Group declined 36 cents to end at $2.03 after trading a mere one stock unit, Knutsford Express advanced $1.14 in closing at $11.94 with an exchange of 355 stock units, Paramount Trading shed 25 cents to close at $1.24 after an exchange of 3,283 shares. Spur Tree Spices fell 10 cents and ended at $2.54 in an exchange of 1,060,608 stocks and tTech dropped 29 cents to $2.01, with 250 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The Junior Market bounce
The Junior Market of the Jamaica Stock Exchange closed higher on Tuesday, following a big 94 percent rise in the volume of stocks traded after 127 percent more funds passed through the market compared with trading on Monday with trading in 41 securities compared with 46 on Monday and ending with prices of 17 rising, 12 declining and 12 closing unchanged.
The market closed with 11,495,682 shares trading for $25,742,485 up from 5,931,329 stock units at $11,322,870 on Monday.
Trading averaged 280,382 shares at $627,865, compared to 128,942 units at $246,149 on Monday with the month to date, averaging 192,229 units at $408,731 compared with 187,416 stock units at $396,767 on the previous day and February with an average of 253,246 units at $637,481.
Spur Tree Spices led trading with 6.79 million shares for 59.1 percent of total volume followed by ONE on ONE Educational with 818,975 units for 7.1 percent of the day’s trade and EduFocal with 665,885 stocks for 5.8 percent market share.
At the close of trading, the Junior Market Index climbed 23.71 points to close at 3,816.86 after the market hit the 3,856 points mark in the early trading session.
The Junior Market ended trading with an average PE Ratio of 13.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
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, AMG Packaging climbed 40 cents to close at $3.51 after 262 stocks passed through the market, Cargo Handlers skidded 14 cents to $13.97 after an exchange of just 4 stock units, Dolphin Cove sank 81 cents and ended at $18.50, with 17,143 shares crossing the market. Fontana dropped 9 cents in closing at $8.91 in an exchange of 22,217 stock units, Honey Bun increased 54 cents to end at $7.04, with 2,770 shares changing hands, Knutsford Express lost 70 cents in closing at $10.80 with investors trading a mere 472 stocks. Lasco Distributors fell 29 cents to $4.28 in switching ownership of 24,635 units, Lasco Financial popped 27 cents to close at $1.89 as investors exchanged 4,253 stock units, 
Lasco Manufacturing dipped 16 cents to end at $5.40 after 268,980 shares passed through the market. Limners and Bards gained 33 cents and ended at $1.80 in trading a mere one stock unit, Main Event rose 87 cents to $14.45 in an exchange of 508 units, MFS Capital Partners advanced 10 cents in closing at $1.70 with investors dealing in 63,827 stock units. Paramount Trading rallied 29 cents to end at $1.49 and closed a 91 shares and Spur Tree Spices rose 19 cents to close at $2.64 with an exchange of 6,792,429 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market ekes out gains on Monday
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with a 78 percent fall in the volume of stocks traded, following a 64 percent drop in the value of stocks traded compared with Friday, following trading in 46 securities up from 44 on Friday and ending with prices of 15 rising, 21 declining and 10 closing unchanged.
The market ended trading of 5,931,329 shares for $11,322,870 compared with 26,794,881 units at $31,045,200 on Friday.
Trading averaged 128,942 shares at $246,149 compared to 608,975 units at $705,573 on Friday with a month to date, average of 187,416 units at $396,767 compared to 191,231 stock units at $406,595 on the previous day and February with an average of 253,246 units at $637,481.
Fosrich led trading with 999,041 shares for 16.8 percent of total volume followed by Derrimon Trading with 614,908 stocks for 10.4 percent of the day’s trade and Everything Fresh with 526,860 units for 8.9 percent market share.
At the close of trading, the Junior Market Index increased 1.10 points to cease trading at 3,793.15.
The Junior Market ended trading with an average PE Ratio of 13, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
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 declined 33 cents to end at $3.11 as investors exchanged 1,516 stocks, Cargo Handlers popped $1.28 in closing at $14.11 with just three units passing through the market, Caribbean Assurance Brokers lost 15 cents in closing at $2.20, after an exchange of 120,394 shares. Caribbean Cream fell 19 cents to close at $3.69 with 489 stock units clearing the market, Caribbean Flavours skidded 11 cents and ended at $1.59 with traders dealing in 50,101 shares, Derrimon Trading popped 10 cents to close at $2 in an exchange of 614,908 stock units. Dolla Financial sank 10 cents to end at $2.64 after investors traded 124,086 stocks, Dolphin Cove shed 39 cents in closing at $19.31 with 321 units crossing the exchange, Everything Fresh climbed 10 cents to close at $1.70 after a transfer of 526,860 stocks. Express Catering dropped 6 cents and ended at $3.94 with investors dealing in 783 shares, Fontana dipped 10 cents to $9 crossing the market 32,314 stock units, Fosrich rose 15 cents in closing at $2.30 while exchanging 999,041 units. Future Energy fell 12 cents to $3.48 with a transfer of 113,618 shares, Honey Bun dropped 56 cents to close at $6.50, with 10,501 stock units changing hands, JFP Ltd lost 6 cents and ended at $1.33 after an exchange of 13,070 stocks. 
KLE Group rallied 24 cents to $2.39 with investors trading 139 units, Knutsford Express declined 44 cents and ended at $11.50 after exchanging 10,251 shares, Lasco Financial shed 29 cents in closing at $1.62 in trading 77,041 stock units. Limners and Bards dropped 30 cents to end at $1.47, with 27,676 stocks crossing the market, Lumber Depot advanced 15 cents to close at $2.70 with investors swapping 143,201 units, Main Event sank 94 cents to $13.58 after 4,227 stock units changed hands. MFS Capital Partners skidded 10 cents to close at $1.60 with investors trading 109,702 units, ONE on ONE Educational gained 12 cents in closing at $1 in switching ownership of 458,111 shares, Paramount Trading lost 35 cents and ended at $1.20 but only after trading at an intraday 52 weeks’ low of $1.10 with an exchange of 250,023 stock units. Stationery and Office Supplies popped 10 cents to end at $1.60, with 424,355 shares crossing the market and tTech dropped 10 cents in closing at $2.30 after an exchange of 310 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Edufocal now an ICTOP10 stock
Edufocal suffered a major drop in price in the past week to $1.05 from $1.13 at the start and landed in an ICTOP10 Junior Market, in position number 7, at the same time, AMG Packaging gained just 5 percent to close at $3.44 and dropped out of the top tier to sit at the twelfth position.
In a week of more moderate price movements, the Junior Market ICTOP10 ended, with a 6 percent jump in the price of Lasco Manufacturing to $5.53 with Access Financial falling 9 percent to $20 and ISP Finance slipping 8 percent to $28.10, while in the Main Market, Key Insurance surged 12 percent to $2.57 and JMMB Group fell 8 percent to $25.
Investors may question why Caribbean Cream is in the ICTOP10. A closer look at earnings for the nine months to November shows the full cost of interest being expensed, most if not all should be a part of the cost of building out the cold room and the cogeneration plant. If interest is capitalized, earnings for the full year would be in the 55 cents per share region rather than 25 cents, with the full interest cost being expensed. More importantly with the 2025 fiscal year having commenced, earnings for the new fiscal year should be around 95 cents, which is the real reason for owning the stock at this time.
There were no changes to the list of companies in the Main Market TOP10 this past week.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 270 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 175 percent over the same period.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 115, with an average of 37 and 25 excluding the highest PE ratios, and a PE of 29 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 44, averaging 21, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 on or around May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate 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.
Junior Market rebounds
Trading closed on the Junior Market of the Jamaica Stock Exchange Friday, with a 373 percent rise in the volume of stocks traded, with 108 percent more value than Thursday with trading in 44 securities compared with 45 on Thursday and ending with prices of 24 rising, eight declining and 12 closing unchanged and led to market into a rebound from the fall on Thursday.
At the close of trading, the Junior Market Index gained 34.14 points recovering 83 percent of Thursday’s loss, to close at 3,792.05.
The market closed trading on Friday with 26,794,881 shares at $31,045,200 up from 5,660,363 units at $14,953,776 on Thursday.
Trading averaged 608,975 shares at $705,573 compared to 125,786 units at $332,306 on Thursday with the month to date, averaging 191,231 units at $406,595 up from 163,424 stock units at $386,693 on the previous day and February with an average of 253,246 units at $637,481.
One Great Studio led trading with 23.11 million shares for 86.2 percent of total volume followed by EduFocal with 1.06 million stock units for 4 percent of the day’s trade and Fontana with 619,770 units for 2.3 percent market share.
The Junior Market ended trading with an average PE Ratio of 13, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close, Access Financial dropped $2 in closing at $20 with traders dealing in 5,079 stock units, AMG Packaging advanced 33 cents to $3.44, with 21 shares changing hands, Caribbean Assurance Brokers rose 15 cents to end at $2.35 with an exchange of 752 stocks. Caribbean Flavours gained 10 cents to close at $1.70 after an exchange of 180 units, Derrimon Trading fell 8 cents and ended at $1.90 with investors dealing in 5,162 stocks, Dolla Financial rose 10 cents to $2.74 after a transfer of 534,217 units. Dolphin Cove rallied 20 cents and ended at $19.70 as investors exchanged 4,830 shares, Honey Bun increased 22 cents to close at $7.06 in switching ownership of 943 stock units,
Jetcon Corporation climbed 10 cents in closing at 95 cents after an exchange of 793 shares. Knutsford Express popped 72 cents to end at $11.94 with investors transferring 477 units, Lasco Distributors advanced 32 cents to $4.55 in an exchange of 46,778 stocks, Lasco Financial rose 11 cents to close at $1.91 after 3,302 stock units were traded. Lasco Manufacturing gained 38 cents to end at $5.53 with investors trading 2,174 shares, Limners and Bards rallied 23 cents in closing at $1.77, with 24,142 stocks crossing the market, Tropical Battery skidded 13 cents and ended at $2.10 with investors trading 279,984 units and tTech increased 10 cents to $2.40, with 51 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
