The Junior Market’s Elite Diagnostic surged 25 percent in the week to close at $1.50, but MFS Partners fell 21 percent to 42 cents, after six stocks rose in the Junior Market and four fell, in a week when the market traded at a 4 year low, going back to May 2021
The Main Market TOP10 ended with only one losing stock, with 138 Student Living, the biggest winner rising 9 percent, followed by Caribbean Producers, up 6 percent to land at $8.02, QWI Investments and NCB Financial both gained 4 percent, while Scotia Group lost 4 percent.
In the Junior Market, AMG Packaging rose 10 percent to $2.30, Kintyre Holdings rallied 7 percent to 29 cents, Access Financial popped 7 percent to $16.68 and Dolla Financial was up 6 percent to $2.48. Expres Catering fell 8 percent to $2.50 and Cargo Handlers declined by 6 percent to $9.75.
There are no new listings in the Main and Junior Market IC TOP10 and the All JSE ICTOP10 for the week.
The average PE for the JSE Main Market ICTOP 10 is just 5.8, well below the market average of 13.5. The Junior Market TOP10 stands at 5.9, less than half the market’s average of 14.1.
In the Main Market, ICTOP10, 16 stocks with the highest values, account for 31 percent of the Main Market, with PE ratios between 15 and 43, with an average of 23 and a PE of 20 for the top half of the market with the highest values.
In the Junior Market IC TOP10, 21 stocks or 44 percent of the market have PEs ranging from 15 to 38, with an average of 21 and a PE of 21 for half of the market with the highest PEs.
ICTOP10 focuses on likely yearly winners. The list includes some of the best companies in the market and others that are not as fancy. Sometimes, weaker companies may be oversold and end up on the list. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued companies and reduce emotions when making investment decisions.
IC TOP10 stocks that will likely deliver the best returns 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 the receipt of new information.
The market closed with an exchange of 84,860 shares for US$32,196, down sharply from 782,822 stocks at US$56,379 on Wednesday.
The market closed with an exchange of 782,822 shares for US$56,379, jumping from 291,466 stock units at US$51,106 on Tuesday.
The market closed with an exchange of just 62,270 shares for US$15,014, tumbling from 575,499 stocks at US$26,595 on Friday.
The market closed with an exchange of 575,499 shares for US$26,595, up from 154,487 stock units at US$26,574 on Thursday.
The market closed with an exchange of 452,504 shares for US$44,656, increasing from 313,665 stocks at US$18,561 on Monday.
The market closed with an exchange of 552,534 shares for US$66,374 compared to 1,260,621 stocks at US$30,005 on Monday.
Trading averaged 55,253 shares at US$6,637 compared to 140,069 stocks at US$3,334 on Monday, with a month to date average of 95,429 units at US$5,073 compared with May, with an average of 71,616 units for US$3,425.
The US Denominated Equities Index declined 3.62 points to conclude trading at 210.24. The Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer.
The PE Ratio, one of the most frequently used measures to determine appropriate stock values, averages 10.1. The PE ratio is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with financial year ending around August 2025.
At the close of the moderate trading, First Rock Real Estate USD share sank 0.49 of one cent to close at a 52 week low of 1.4 US cents with 3,266 shares passing through the market, Margaritaville dropped 0.7 of a cent to 7.5 US cents with investors trading 3,000 units, Productive Business Solutions shed 5 cents in closing at US$1.20 with 50 stocks clearing the market.