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.
Overall, 358,034 shares were exchanged for US$26,938 compared to 82,254 units at US$8,280 on Thursday.
Productive Business Solutions ended at US$1.39 after a transfer of 1,058 stock units, Proven Investments remained at 21.5 US cents trading 1,925 stocks and Transjamaican Highway dropped 0.01 cent to end at 0.98 US cent in an exchange of 4,551 units.
A total of 29,412 shares were traded for US$11,534 compared to 157,281 units at US$16,865 on Tuesday.
Sterling Investments declined 0.04 of a cent to close at 2.21 US cents with a transfer of 3,745 units, Sygnus Credit Investments J$ share dropped 0.03 of a cent to 15.6 US cents in switching ownership of 18 units, Sygnus Real Estate Finance USD share advanced 0.1 of a cent after ending at 10.1 US cents with an exchange of one stock unit and Transjamaican Highway lost 0.01 of a cent to close at 0.99 of one US cent with the swapping of 5,000 stocks.
a total of 157,281 shares were traded, for US$16,865 compared to 165,305 units at US$10,692 on Monday.
Sygnus Credit Investments J$ share popped 0.63 of a cent in closing at 15.63 US cents and exchanging 8 shares, Sygnus Credit Investments USD share declined 0.77 of one cent to 9 US cents in exchanging 10,800 units, Sygnus Real Estate Finance USD share lost 2.93 cents to end at 10 US cents as investors exchanged 4,600 stocks. Transjamaican Highway remained at 1 US cent in trading 107,110 stock units.
Investors traded 165,305 shares for US$10,692, compared to 3,796,627 units at US$51,064 on Friday.
At the close, First Rock Real Estate USD share declined 0.04 of a cent to 6.78 US cents, with 33,107 shares changing hands, Proven Investments remained at 20 US cents, with 13,261 stock units crossing the market, Sygnus Real Estate Finance USD share gained 0.56 of one cent to end at 12.93 US cents with an exchange of 153 stocks and Transjamaican Highway fell 0.02 of a cent in ending at 1 US cent in trading 118,065 units.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.2, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.8, 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 s projected to gain an average of 243 percent, by May 2023.
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.
Overall, 3,796,627 shares were traded for US$51,064 compared to 3,235,927 units at US$55,292 on Thursday.
Proven Investments fell 1 cent to 20 US cents with a transfer of 500 units, Sterling Investments popped 0.02 of a cent to 2.11 US cents after trading 28,086 stock units. Sygnus Credit Investments USD share lost 1.21 cents to close at 9.77 US cents, with 2,000 stocks crossing the exchange and Transjamaican Highway gaining 0.03 of a cent to end at 1.02 US cents after exchanging 3,757,139 units.
Investors traded 3,235,927 shares for US$55,292, sharply up from 174,023 units at US$17,600 on Wednesday.
Proven Investments rose 2 cents to close at 21 US cents with investors trading 61,193 stocks. Sygnus Credit Investments USD share remained at 10.98 US cents as investors exchanged 10,564 stock units, Sygnus Real Estate Finance USD share dropped 0.01 of a cent to end at 12.37 US cents with the swapping of 3,545 stocks and Transjamaican Highway rallied 0.06 of a cent to end at 0.99 of one US cent after a transfer of 3,000,000 shares.
Trading ended, with 207,798,795 shares changing hands, valued at $857.96 million, shares up from $451.73 million, with 49,206,449 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded at US$55,292 from US$17,599 on Wednesday
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
Overall, 174,023 shares were traded for US$17,600 compared to 145,974 units at US$27,536 on Tuesday.
At the close, First Rock Real Estate USD share slipped 0.07 of a cent to 5.93 US cents after trading 140,971 shares, Productive Business Solutions ended at US$1.3225 with one stock unit changing hands, Proven Investments remained at 19 US cents, with an exchange of 27,877 units. Sterling Investments dipped 0.01 of a cent to 2.09 US cents, with 70 stocks clearing the market and Sygnus Credit Investments USD share remained at 10.98 US cents with investors transferring 1,650 shares.