Market activity ended Monday with the volume of shares jumping 52 percent, but with the value 18 percent lower than on Friday at the close of trading on the Jamaica Stock Exchange Main Market as declining beat out rising stocks by a wide margin.
The All Jamaican Composite Index fell 1,542.17 points to 446,189.43, the JSE Main Index shed 124.48 points to settle at 395,089.30 and the JSE Financial Index lost 0.05 points to end at 95.50.
Trading ended with 57 securities up from 53 on Friday, with 19 rising, 27 declining and 11 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.7. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 19,292,252 shares were traded for $138,707,283 versus 12,658,052 units at $170,186,122 on Friday. QWI Investments led trading with 39.6 percent of total volume after a transferring of 7.63 million shares followed by Carreras with 20.2 percent for 3.90 million units, Wigton Windfarm exchanged 2.68 million units for 13.9 percent market share and Transjamaican Highway accounted for 7 percent with 1.34 million units changing hands.
Trading averages 338,461 units at $2,433,461, compared to 238,831 shares at $3,211,059 on Friday and month to date, an average of 311,071 units at $2,956,852, compared to 309,122 units at $2,994,098 on the previous trading day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement declined $2 to $77 in an exchange of 21,933 shares, Caribbean Producers rallied 35 cents to end at $18.25 in trading 137,163 stocks, First Rock Capital advanced $1.02 in closing at $11.99 with a transfer of 112 units. GraceKennedy shed 44 cents after ending at $102.05 with 52,998 stock units changing hands, Guardian Holdings dropped $11 to close at $550 in switching ownership of 4,320 units, Jamaica Broilers rose 65 cents to close at $30.50 after exchanging 29,223 stocks. JMMB Group fell $1.80 in closing at $42.50 with 602,999 shares crossing the market, Key Insurance lost 30 cents in ending at $4.30 with the swapping of 68,955 stocks, Kingston Wharves declined $1.50 to end at $40.50 after exchanging 8,233 units. Margaritaville fell $3 to $25 in trading 855 stock units, Massy Holdings popped $19 in ending at $2,015 with the swapping of 7,722 stocks, Mayberry Jamaican Equities shed 50 cents in closing at $8.50 in transferring 50,271 shares. NCB Financial rose $1 to $129 with 45,417 stock units crossing the market, Palace Amusement fell $1.99 to close at $850.01 with 49 stocks changing hands, Proven Investments gained 48 cents to end at $35.48 in trading 36,302 shares. 
Salada Foods picked up 40 cents in ending at $7.10 after exchanging 13,233 units, Scotia Group shed 60 cents to end at $35 in switching ownership of 292,939 shares, Seprod fell $1.50 in closing at $60 in exchanging 36,513 units. Sterling Investments lost 30 cents to end at $3.20 with the swapping of 9,795 stocks and Sygnus Real Estate Finance advanced $2.32 to close at $17.82 in an exchange of 3,023 stock units.
In the preference segment, JMMB Group 7.15% – due 2028 lost 46 cents after ending at $2.94 with 20,000 units changing hands and Productive Business Solutions 9.75% preference share declined $8 to $100 in transferring 362 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Six new additions to ICTOP10
Following the release of fourth quarter results and faced with a new IPO, investors took profit this past week, resulting in six changes to the ICTOP10 listings as the Junior Market hit a record high during the week at 4,076 points before pulling back 226 points and making some recovery on Friday. That market is caught between two resistance points that seem set to constrain movement beyond peak and the low reached last week.
Focus this coming week will be the response of the market to the latest IPO to hit the market as FJP Limited opens on Monday at $1 per share. The stock is not ICInsider.com BUY RATED, but it should deliver gains to investors, with the possibility of earnings estimated around 7 cents per share.
Entering the Junior Market TOP10 this week are Lasco Manufacturing, Iron Rock, iCreate and Lasco Financial slipped out last week, while 138 Student Living and Sygnus Credit Investments US dollar denominated stock join the Main Market list.
Out goes General Accident, Honey Bun, Medical Disposables and Tropical Battery from the Junior Market list, while VM Investments and Sterling Investments hit a record high on Friday of $3.65 from the Main Market listing.
During the week, the Junior Market TOP10 listed Tropical Battery rose 18 percent to close at $1.79, followed by Lasco Distributors with a gain of 5 percent to $4, while Cargo Handlers fell 11 percent to $7 and General Accident moved down 7 percent to $6.26, following the release of full year’s results, with a small loss reported in the December quarter.
In the Main Market, Sterling Investments rose 13 percent to a record close of $3.50 while JMMB Group added 5 percent to end at $44.30, with technical indicators pointing to a much higher price ahead as the stock is steered higher by a rising trend line.
The Junior Market potential gains for the TOP 10 Junior Market stocks are now at 104 percent and are now much lower than the Main Market at 126 percent. The top three stocks in the Junior Market are Cargo Handlers followed by Caribbean Assurance Brokers and AMG Packaging to gain between 109 and 129 percent, compared to 111 and 124 percent, previously.
The potential gains for Main Market stocks moved from 122 percent last week to this weeks’ 126 percent, with the top three being Guardian Holdings followed by JMMB Group and Sygnus Credit Investments all projected to gain between 165 and 185 percent versus 161 and 186 percent last week.
The average PE for Junior Market has moved to 17.7 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.9. In the process, the Junior Market has surpassed the average of 17 that was achieved at the end of March last year. The TOP 10 stocks trade at a PE of a mere 9.8, with a 45 percent discount to that market’s average. That means there is a lot of room for the TOP10 stocks to run between now and the end of March.
All the stocks in the Junior Market can gain 13 percent to March this year, based on an average PE of 20 that would take the index to 4,700 points. About a third of Junior Market stocks with positive earnings are trading at or above this level, averaging around 23.
The average PE for the JSE Main Market is 16.9 just 12 percent less than the PE of 19 at the end of March and 18 percent below the target of 20 to March this year. The Main Market TOP 10 average PE is 9 representing a 47 percent discount to the market and well below the potential of 20. Around 18 stocks or 35 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Mild recovery for JSE Main Market
Market activity ended on Friday with the volume of shares declining 48 percent and the value just marginally lower than Thursday’s levels on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining, leading the market indices to close with a modest rise.
The All Jamaican Composite Index advanced 1,052.95 points to 447,731.60, the JSE Main Index rallied 1,370.17 points to 395,213.78 and the JSE Financial Index dipped 0.04 points to settle at 95.55.
A total of 53 securities traded compared to 57 on Thursday, with 19 rising, 16 declining and 18 ending unchanged. Sterling Investments traded at an intraday high of $3.65 before pulling back to $3.50.
The PE Ratio, a formula for computing appropriate stock values, averages 16.9. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Trading ended with an exchange of 12,658,052 shares for $170,186,122 versus 24,469,891 units at $177,150,417 on Thursday. Community & Workers Credit Union led trading with 31.2 percent of total volume for 3.95 million shares followed by JMMB Group, 22.7 percent, with 2.87 million units and Transjamaican Highway, 11.2 percent after 1.42 million units changed hands.
Trading averaged 238,831 units at $3,211,059 versus 429,296 shares at $3,107,902 on Thursday and month to date, an average of 309,122 units at $2,994,098, compared to 314,103 units at $2,978,725 on the previous day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement fell $1 in closing at $79 after an exchange of 10,712 shares, Caribbean Producers gained 45 cents to close at $17.90 with a transfer of 215,219 stock units, First Rock Capital shed $1.03 at $10.97 in switching ownership of 2,254 units. Guardian Holdings popped $11 to end at $561 in an exchange of 428 stocks, Kingston Wharves rallied $2 in ending at $42 after swapping 14,756 shares, Margaritaville advanced $3.10 in closing at $28 in trading 431 units. Massy Holdings dropped $94 to close at $1,996 with 665 stocks crossing the exchange, Mayberry Investments lost 39 cents to finish at $6.51 after a transfer of 30,550 shares, Mayberry Jamaican Equities gained 50 cents to end at $9 with 1,000 stocks changing hands. 
NCB Financial shed $1 in ending at $128 with 38,438 stock units crossing the market, 138 Student Living fell $1.50 to $5.50 with an exchange of 22,811 shares, Palace Amusement dropped $98 to close at $852 with 27 units clearing the market. PanJam Investment shed $1 in closing at $65 in trading 20,356 stocks, Proven Investments climbed $1.20 to end at $35 with the swapping of 3,865 stock units, Salada Foods lost 30 cents to settle at $6.70 in exchanging 825 shares. Seprod fell $1 to end at $61.50 in switching ownership of 9,092 stocks and Supreme Ventures gained 31 cents in closing at $18.80 with 16,096 shares traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big Main Market fall
Main Market stocks mostly declined on Thursday with little change in the volume and value of shares trading compared to Wednesday on the Jamaica Stock Exchange Main Market and resulted in the All Jamaican Composite Index dropping 4,913.71 points to close at 446,678.65, while the JSE Main Index plunged 5,907.36 points to settle at 393,843.61. The JSE Financial Index slipped 1.15 points to 95.59.
A total of 57 securities traded for a third consecutive day on Wednesday, with prices of 19 stocks rising, 25 declining and 13 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.9. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 24,469,891 shares were exchanged for $177,150,417 versus 25,678,501 units at $170,560,569 on Wednesday. Sagicor Select Financial Fund led trading with 29.6 percent of total volume with a transfer of 7.25 million shares followed by Transjamaican Highway, 20.1 percent with 4.91 million units, Wigton Windfarm contributed 12.4 percent with 3.03 million units, Radio Jamaica, 8.8 percent market share with 2.15 million units, 1834 Investments held on to 5 percent after an exchange of 1.21 million units and QWI Investments with 4.1 percent after trading 1.01 million units.
Trading averages 429,296 units at $3,107,902, versus 450,500 shares at $2,992,291 on Wednesday and month to date, an average of 314,103 units at $2,978,725, compared to 304,601 units at $2,968,069 on the previous day.January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, Berger Paints shed 99 cents to close at $12.01 with 78,628 stocks crossing the market, Caribbean Cement declined $4.01 to $80 with the swapping of 584,937 units, Caribbean Producers rose $1.70 to $17.45 trading 261,508 stock units. Eppley advanced $2.80 to end at $37 with a transfer of 629 units, Eppley Caribbean Property Fund fell $2.50 to close at $38.50 in an exchange of 1,011 stocks, First Rock Capital lost 65 cents after ending at $12 in switching ownership of 107,274 units. GraceKennedy lost 55 cents to close at $102.45 with 9,700 shares clearing the market, Jamaica Producers popped 57 cents to $22.87 after exchanging 3,277 stocks, JMMB Group rallied 31 cents to $44.30 with the swapping of 625,015 stock units. Kingston Wharves lost 32 cents to end at $40 in exchanging 17,526shares, Margaritaville shed $1.10 to close at $24.90 with 2,781 units changing hands, Massy Holdings declined $10 after ending at $2,090 in transferring 3,754 stocks. Mayberry Jamaican Equities lost 52 cents to finish at $8.50 after 301,000 shares crossed the market, NCB Financial gained 74 cents in closing at $129 with an exchange of 170,229 units, 138 Student Living lost 42 cents in closing at $7 after trading 17,000 shares. 
PanJam Investment rose 50 cents to $66 in switching ownership of 144 shares, Proven Investments shed 40 cents to close at $33.80 with a transfer of 57,225 stocks, Sagicor Group fell $2.48 to finish at $54 with the swapping of 391,137 shares. Seprod gained 90 cents to end at $62.50 with 39,155 units changing hands, Stanley Motta rose 94 cents $5.94 in trading 2 stock units and Sygnus Credit Investments shed 60 cents to end at $15 with 120,564 units clearing the market.
In the preference segment, Community & Workers Credit Union lost 35 cents to close at $1.80 with an exchange of 14,513 stock units and Eppley 5% preference share shed 50 cents to end at $22 after two shares were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE Main Market
Market activity ended on Wednesday with the volume of shares trading rising marginally above Tuesday’s levels but with a 20 percent lower value leading to an equal number of 24 stocks each, rising and declining on the Jamaica Stock Exchange Main Market as nine ended unchanged following the trading of 57 securities.
The All Jamaican Composite Index shed 1,070.81 points to end at 451,592.36, the JSE Main Index declined 1,604.51 points to 399,750.97 and the JSE Financial Index lost 0.42 points to close at 96.74.
The PE Ratio, a formula for computing appropriate stock values, averages 16.9. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years, ending up to August 2022.
Overall, 25,678,501 shares were exchanged for $170,560,569 versus 25,075,120 units at $212,434,651 on Tuesday. Stanley Motta led trading with 39.5 percent of total volume for an exchange of 10.14 million shares followed by Wigton Windfarm, 17.5 percent with 4.50 million units, QWI Investments controlled 12.7 percent after an exchange of 3.26 million units and Transjamaican Highway with 6.2 percent after transferring 1.60 million units.
Trading averages 450,500 units at $2,992,291, compared to 439,914 shares at $3,726,924 on Tuesday and month to date, an average of 304,601 units at $2,968,069, compared to 291,484 units at $2,965,891 on the previous day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Berger Paints gained 50 cents to close at $13 after exchanging 70 stock units, Caribbean Cement rose $1.01 to $84.01 with 16,178 units crossing the market, Caribbean Producers lost 75 cents at $15.75 in exchanging 389,800 stocks. Eppley shed 80 cents in closing at $34.20 with the swapping of 3,630 shares, Eppley Caribbean Property Fund rallied $2.50 to $41 in trading 50 units, First Rock Capital gained 72 cents to close at $12.65 with 13,572 stocks clearing the market. Guardian Holdings dropped $11 to $550 with a transfer of 1,720 stock units, JMMB Group rose 88 cents to end at $43.99 with 643,369 shares changing hands, Key Insurance lost 31 cents to finish at $4.90 in switching ownership of 259,372 stocks. Massy Holdings declined $100 after ending at $2,100 in trading 11,687 units, Mayberry Jamaican Equities gained 31 cents to finish at $9.02 in an exchange of 4,100 shares, NCB Financial shed 74 cents to end at $128.26 in transferring 44,832 stocks. 138 Student Living fell 78 cents to settle at $7.42 in switching ownership of 29,187 shares, PanJam Investment popped 30 cents to close at $65.50 with the swapping of 2,000 stock units, Proven Investments gained 40 cents in closing at $34.20 after 18,173 units cleared the market. Sagicor Group popped $2.94 to $56.48 with 7,093 shares crossing the exchange, Scotia Group lost 50 cents in closing at $35.50 switching ownership of 4,000 stocks, Stanley Motta shed 46 cents after ending at $5 in an exchange of 10,136,915 shares. 
Supreme Ventures lost 45 cents to end at $18.55 after 45,424 stock units changed hands and Sygnus Real Estate Finance declined $1.77 to close at $15.23 with the swapping of 1,500 shares.
In the preference segment, JMMB Group 7.25% preference share lost 35 cents to end at $2.64 with 927 stock units changing hands and Productive Business Solutions 9.75% preference share fell $30 in closing at $108 with a transfer of 300 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks crushed winners on JSE Main Market
Declining stock dominated Main Market activity on Tuesday with 47 percent of stock losing value at the close compared to 28 percent rising as the volume of shares traded rising 61 percent and the value increasing 66 percent higher than on Monday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index dropped 1,076.57 points to end at 452,663.17, the JSE Main Index rose 313.73 points to 401,355.48 and the JSE Financial Index rallied 0.36 points to end at 97.16.
Overall, 57 securities traded against 58 on Monday, with 16 rising, 27 declining and 14 ending unchanged.
The PE Ratio, a formula used in computing appropriate stock values, averages 17. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 25,075,120 shares were exchanged for $212,434,651 up from 15,556,075 units at $127,688,648 on Monday. Wigton Windfarm led trading with 50.4 percent of total volume for 12.64 million shares followed by Transjamaican Highway with 10.8 percent for 2.72 million units, QWI Investments controlled 6 percent, with 1.49 million units, JMMB Group accounted for 5 percent with 1.26 million units and Sagicor Select Financial Fund with 4.7 percent and 1.17 million units changing hands.
Trading averages 439,914 units at $3,726,924 compared to 268,208 shares $2,201,528 on Monday and month to date, an average of 291,484 units at $2,965,891, compared to 276,821 units at $2,890,711 on the previous day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments lost 34 cents to end at $91.16 with the swapping of 6,218 stocks, Berger Paints shed 50 cents after ending at $12.50 with an exchange of 5,080 units, Caribbean Cement declined $2.20 to $83 after trading 19,752 stock units. Caribbean Producers fell $1.69 to $16.50 in an exchange of 369,759 shares, Eppley rose $1 to $35 after 4,013 stocks changed hands, Eppley Caribbean Property Fund declined $2.50 to $38.50 in trading 723 stock units. Guardian Holdings dropped $18 in closing at $561 after ownership of 563 shares were switched, Jamaica Producers fell $1.25 to $22.25 in exchanging 51,253 stock units, JMMB Group dropped $1.39 to close at $43.11 with the swapping of 1,263,399 shares. Key Insurance advanced $1.11 to $5.21 after trading 759,230 units, Massy Holdings climbed $90 in closing at $2,200 after exchanging 8,223 stocks, MPC Caribbean Clean Energy rallied $4 to end at $119 in transferring 6 stocks. 
138 Student Living rose 90 cents to close at $8.20 with 14,854 shares crossing the market, Palace Amusement popped $50 to close at $950 in switching ownership of 80 units, PanJam Investment shed 80 cents to $65.20 with 250,409 stock units clearing the market. Radio Jamaica lost 44 cents to end at $3.26 in trading 286,351 shares, Sagicor Group declined $4.09 to $53.54 with 37,381 units crossing the market, Scotia Group shed 75 cents to close at $36 with 9,498 shares changing hands. Seprod gained 49 cents in closing at $61.50 after switching ownership of 4,485 stocks, Stanley Motta lost 52 cents to settle at $5.46 after exchanging 1,310 stock units and Sygnus Real Estate Finance fell 97 cents to $17 in trading 5,836 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE Main Market on Monday
Market activity ended on Monday with the volume of shares trading being 17 percent more with a 44 percent lower value than on Friday as declining exceeded rising to close out trading on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index popped 534.66 points to settle at 453,739.74, the JSE Main Index advanced 886.78 points to 401,041.75 and the JSE Financial Index gained 0.52 points to end at 96.80.
A total of 58 securities traded compared to 60 on Friday, with 22 rising, 26 declining and 10 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 17.2. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 15,556,075 shares traded for $127,688,648 versus 13,336,530 units at $229,123,211 on Friday. Wigton Windfarm led trading with 28 percent of total volume for an exchange of 4.35 million shares followed by Sagicor Select Manufacturing & Distribution Fund with 15.7 percent for 2.44 million units, Transjamaican Highway, 9.6 percent with 1.50 million units, QWI Investments, 8.6 percent after trading 1.33 million units and JMMB Group with 6.9 percent market share for 1.08 million units.
Trading averaged 268,208 units at $2,201,528 ompared to 222,276 shares at $3,818,720 on Friday and month to date, an average of 276,821 units at $2,890,711, versus 277,783 units at $2,967,730 on Friday. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints gained 56 cents to finish at $13 in an exchange of 78,492 shares, Caribbean Cement advanced $1.20 to close at $85.20 with 31,440 units clearing the market, Caribbean Producers fell 79 cents to $18.19 after trading 240,546 stocks. Eppley rose 90 cents to end at $34 with 262 stock units changing hands, Eppley Caribbean Property Fund shed $1.35 in closing at $41 with 10 stocks crossing the market, GraceKennedy declined $2.01 in closing at $103 with an exchange of 190,769 units. Jamaica Broilers lost 60 cents ending at $29.90 in switching ownership of 6,719 shares, JMMB Group rallied $2.50 to close at $44.50 after 1,080,129 stock units passed through the exchange, Kingston Properties shed 74 cents to end at $9 with the swapping of 3,538 units. 
Kingston Wharves fell $1.70 to $40.30 in trading 16,224 stocks, Margaritaville advanced $1.70 to $26.20 with 424 shares crossing the market, Massy Holdings gained $110 to $2,110 in transferring 3,365 stock units. MPC Caribbean Clean Energy popped $4 to close at $115 after an exchange of 56 shares, NCB Financial rallied 50 cents in closing at $129 with 59,377 stock units crossing the market, Palace Amusement declined $5 to $900 in trading 32 units. Portland JSX gained 45 cents to close at $9.15 with a transfer of 124 stocks, Proven Investments picked up 30 cents in ending at $33.80 with an exchange of 83,407 shares, Radio Jamaica fell 55 cents in closing at $3.70 in switching ownership of 616,794 units. Scotia Group declined $2.24 to $36.75 after trading 172,114 shares, Seprod lost 39 cents to settle at $61.01 with 26,004 units crossing the market and Sygnus Credit Investments rose 30 cents to end at $15.80 with an exchange of 114,556 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Several changes for ICTOP10 listings
Increased buying interest coupled with the release of new results created many changes for the ICTOP10 listings this week. Tropical Battery came from nowhere, with stunning first quarter results to December, with profits surging from just $19 million in 2020 to $56.7 million as revenues surged 46.8 percent to $662 million and investors reacted to it right out of the block driving the price up 18 percent for the day.
Even with an 18 percent rise in the stock price, Tropical moved right to the top of the Junior Market TOP10 stocks with the potential to double in price. Medical Disposables price slipped with the stock now back in the TOP 10 and so did Access Financial while Cargo Handlers joins the TOP10 in fifth position.
Moving out of the TOP10 are Lasco Financial that was boosted by rising profits and enjoyed a 19 percent bounce in the price for the week and Jetcon Corporation. Lasco Manufacturing (Lasm) price rose 2 percent but the company posted good results that suggest a much higher stock price ahead and Stationery & Office Supplies (SOS) had a 24 percent rise to $7.31 as increased buying interest came in for the stock. Both stocks remain in the 2022 ICTOP15 list, with SOS in at the 6th spot and LASM at 11.
The Junior Market index upward move slowed this past week with year to date gains moving from 16.3 percent last week to 17.1 percent to Friday, this week. The Main Market seems to be bubbling with the market index up more than 7,700 points for February and is worth watching.
Recently listed Spur Tree Spices continues to consolidate around the $3 price level while, Future Energy, surged this past week to an all-time high of $5.20, on profit results that rose strongly in the December quarter at PE of 50, the price seems well ahead of the market.
Other decent moves in the Junior Market this past week are Caribbean Assurance Brokers that closed at $3.28 for a rise of 6 percent, General Accident moved up 4 percent to $6.76, AMG Packaging lost 6 percent to end at $3.48 and Honey Bun slipped 4 percent to $9.70.
In the Main Market, Jamaica Broilers rose 13 percent to $30.50, while Proven Investments and VM Investments both rose 8 percent for the week. Radio Jamaica released results for the nine months to December, with a slight reduction of 2.5 percent in revenues or $35 million leading to a fall in profit from $194 million in the December quarter to $108 million and Jamaica Broilers were replaced in the TOP10 by Berger Paints and Carreras.
The sharp price movements in the Junior Market over recent weeks reduced the potential gains markedly, with the average increase projected for the TOP 10 Junior Market stocks now at 105 percent and is now lower than the Main Market at 122 percent. The top three stocks in the Junior Market are Tropical Battery followed by Caribbean Assurance Brokers and Lasco Distributors to gain between 111 and 124 percent, compared to 114 and 126 percent, previously.
The potential gains for Main Market stocks moved from 123 percent to this weeks’ 122 percent, with the top three being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 161 and 186 percent versus 165 and 186 percent last week.
After trading at a big discount to the Main Market for two years, the average PE for Junior Market has moved to 17.8 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.4. In the process, the Junior Market has surpassed the average of 17 that was achieved at the end of March last year. The TOP 10 stocks trade at a PE of a mere 9.8, with a 45 percent discount to that market’s average. That means there is a lot of room for the TOP10 stocks to run between now and the end of March.
All the stocks in the Junior Market can gain 12 percent to March this year, based on an average PE of 20 that would take the index to 4,700 points. About a third of Junior Market stocks with positive earnings are trading at or above this level, averaging around 23.
The average PE for the JSE Main Market is 17.4 just 9 percent less than the PE of 19 at the end of March and 15 percent below the target of 20 to March this year. The Main Market TOP 10 average PE is 9.2 representing a 47 percent discount to the market and well below the potential of 20. Around 15 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
JSE Main Market jumps on Friday
More funds supported market activity on Friday but the volume of shares trading declined by 48 percent while the value climbed 23 percent higher than on Thursday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining.
The All Jamaican Composite Index climbed 2,416.48 points to 453,205.08, the JSE Main Index soared 4,816.43 points in ending at 400,154.97 and the JSE Financial Index advanced 1.12 points to close at 96.28.
Trading ended with 60 securities up from 57 on Thursday, with 27 rising, 21 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 17. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 13,336,530 shares were exchanged for $229,123,211 versus 25,871,558 units at $185,994,733 on Thursday. Sagicor Select Financial Fund led trading with 24.5 percent of total volume in transferring 3.27 million shares followed by Wigton Windfarm with 20.2 percent for 2.69 million units, QWI Investments accounted for 11.7 percent for 1.56 million units and JMMB Group with 8.1 percent for 1.08 million units changing hands.
Trading averages 222,275 units at $3,818,720, versus 453,887 shares at $3,263,065 on Thursday and month to date, an average of 277,783 units at $2,967,730, compared to 285,039 units at $2,856,489 on Thursday. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows five stocks ended with the bid higher than their last selling prices and three with lower offers.
At the close, Berger Paints dropped 56 cents ending at $12.44 in exchanging 139 units, Caribbean Cement fell 99 cents to close at $84 with a transfer of 71,819 stocks. Caribbean Producers shed 78 cents in closing at $18.98 after trading 558,563 stock units, Eppley declined $2.90 to end at $33.10 with 2,091 units clearing the market, Eppley Caribbean Property Fund advanced $4.25 to end at $42.35 in switching ownership of 19 stocks. First Rock Capital rose $1.05 to close at $12.10 with 2,137 shares changing hands, GraceKennedy rallied $2.01 to end at $105.01 in switching ownership of 62,574 units, Guardian Holdings climbed $8.99 to $578.99 after 507 shares crossed the market. Jamaica Broilers advanced $3.45 to $30.50 with the swapping of 58,755 stock units, Jamaica Stock Exchange lost 69 cents to end at $17.25 in trading 16,499 units, Key Insurance popped 43 cents to settle at $4.39 with an exchange of 28,000 stocks. Margaritaville fell 50 cents to $24.50 with 5,489 stock units changing hands, Massy Holdings climbed $53 to close at $2,000 in trading 11,152 shares, Mayberry Investments rallied 44 cents to finish at $7 in an exchange of 29,439 units. NCB Financial lost 50 cents to close at $128.50 with the swapping of 795,819 stock units, 138 Student Living advanced $1.69 to $7.35 after 6,027 shares crossed the exchange, PanJam Investment fell $1.79 to end at $66.25 in transferring 12,602 stock units, Portland JSX gained 80 cents to close at $8.70 with 301 shares crossing the market. 
Proven Investments lost 30 cents to end at $33.50 in trading 29,164 units, Sagicor Group fell $2.04 in closing at $53.11 in trading 40,318 stocks, Salada Foods slipped 30 cents to $7.30, with an exchange of 52,146 units. Scotia Group rose $2.99 to end at $38.99 with 97,722 units changing hands, Seprod gained 40 cents to close at $61.40 with a transfer of 4,664 shares, Stanley Motta rose 63 cents to $5.98 in switching ownership of 5,167 stock units and Wisynco Group popped $1.33 in closing at $19.83 with the swapping of 274,079 stocks.
In the preference segment, 138 Student Living preference shares gained 80 cents to end at $7.75 with an exchange of 533 stock units, Eppley 7.25% preference share lost 38 cents ending at $20 in exchange of 389 units and Jamaica Public Service 9.5% rallied $655.36 to close at a record high of $3,128.43 trading one share.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Pickup for JSE Main Market
Market activity ended on Thursday with the volume of shares rising 62 percent but with a 30 percent lower value than on Wednesday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining and a big rise in the All Jamaican Composite Index.
The All Jamaican Composite Index rallied 2,955.58 points to 450,788.60, the JSE Main Index gained 760.73 points to close at 395,338.54 and the JSE Financial Index lost 0.01 points to end at 95.16.
Similar to Wednesday 57 securities traded on Thursday, with 24 rising, 19 declining and 14 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.6. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 25,871,558 shares were exchanged for $185,994,733 compared to 15,992,883 units at $265,261,579 on Wednesday. Wigton Windfarm led trading with 57.5 percent of total volume for an exchange of 14.88 million shares followed by QWI Investments, 10.4 percent with 2.7 million units, Sagicor Select Financial Fund, 6.9 percent with 1.79 million units, Transjamaican Highway accounted for 6.3 percent for 1.63 million units and Caribbean Producers with 4.8 percent after trading 1.23 million units.
Trading averages 453,887 units at $3,263,065, compared to 280,577 shares at $4,653,712 on Wednesday and month to date, an average of 285,039 units at $2,856,489, compared to 261,098 units at $2,798,840 on the previous day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Caribbean Cement advanced $4.99 to close at $84.99 with a transfer of 11,101 stock units, Caribbean Producers gained 68 cents in ending at $19.76 with the swapping of 1,233,626 stocks. First Rock Capital fell $1.09 to $11.05 with 16,263 units clearing the market, Guardian Holdings popped $20 to end at $570 with an exchange of 8,531 stocks, Jamaica Broilers shed 80 cents to end at $27.05 in trading 56,874 stock units. Jamaica Producers lost 50 cents in ending at $23 with 4,161 shares crossing the market, JMMB Group fell $1 to $42 in transferring 788,619 units, Kingston Properties rallied 83 cents to close at $9.74 with the swapping of 3,823 stock units. Kingston Wharves advanced $1.98 in closing at $41.98 after exchanging 10,228 stocks, Massy Holdings rose $2 to end at $1,947 with 2,568 units changing hands, MPC Caribbean Clean Energy declined $8.50 to $111 in switching ownership of 50 shares. NCB Financial climbed $3 to close at $129 with a transfer of 553,955 stocks, 138 Student Living gained 66 cents in closing at $5.66 in exchanging 601 shares, Palace Amusement declined $5 to $905 in trading 6 units, PanJam Investment advanced $2.24 to $68.04 with 1,504 shares changing hands. 
Proven Investments gained 30 cents to end at $33.80 after 55,829 stock units crossed the exchange, Sagicor Group rallied $2.15 to $55.15 in trading 121,084 units, Salada Foods lost 39 cents to close at $7.60 with the swapping of 25,068 stock units. Scotia Group rose 48 cents to $36 with 81,966 shares clearing the market, Seprod fell $2 in closing at $61 in exchanging 21,975 stocks, Sygnus Credit Investments popped 50 cents to finish at $15.70 with a transfer of 131,484 shares and Wisynco Group fell $1.30 to settle at $18.50 in trading 181,755 stock units.
In the preference segment, Eppley 5% preference share rose $1.50 in ending at a 52 weeks’ high of $22.50 with 100 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.