The Jamaica Stock Exchange Main Market ended the past week, with up and down sharp movements. First Rock Real Estate Investments led the winners with a gain of 37.74 percent, while Pulse Investments led the losers, with a fall of 28.97 percent. Looking ahead, ICInsider.com forecasts gains of between 160 percent and 598 percent over the next twelve months, with an average projected gain of 378 percent for the IC TOP10 Main Market stocks, led by Berger Paints at 598 percent and followed by Margaritaville at 524 percent.
The ten winning stocks this week advanced between 5.97 percent to 37.74 percent, with real estate and insurance companies being prominent. The ten top losers fell between 5.53 percent and 28.97 percent. Financial service sector is heavily represented.
Among the winners, First Rock Real Estate Investments was well ahead of the field at 37.74 percent. followed by Mayberry Jamaican Equities with 20.12 percent. 138 Student Living is next with a rise of 14.46 percent and General Accident Insurance, 14.14 percent. The second half of the table was more modest. Sagicor Select Funds rose 9.30 percent, Sygnus Real Estate Finance 8.67 percent, Berger Paints 8.11 percent, Margaritaville 7.60 percent, Supreme Ventures 6.12 percent and Tropical Battery 5.97 percent. Real estate was a clear theme, with First Rock Real Estate Investments, 138 Student Living and Sygnus Real Estate Finance in the top six.
Declining stocks were heavier in financial and investment. Pulse Investments fell 28.97 percent, the steepest decline of the week, followed by VM Investments at 15 percent and QWI Investments at 11.76 percent. Radio Jamaica lost 10.57 percent and Barita Investments 10.37 percent. 
The remaining five were the Palace Amusement at 9.09 percent, A.S. Bryden at 8.21 percent, Proven Investments at 7.43 percent, Mayberry Group at 6.95 percent and Massy Holdings at 5.53 percent. Six of the ten losers were investment or financial companies, which points to selling pressure in that segment. It is notable that Mayberry Jamaican Equities was among the biggest winners while its related company, Mayberry Group, was among the decliners.
The ICInsider.com forecast for the next twelve months is Bly bullish. Berger Paints is projected to gain 598 percent, followed by Margaritaville at 524 percent and Sygnus Capital at 510 percent, so the top three are all expected to exceed 500 percent. JMMB Group is forecast at 450 percent and QWI Investments at 433 percent. The next five are Iamaica Broilers at 379 percent, Palace Amusement at 300 percent, 138 Student Living at 223 percent, Lasco Distributors at 201 percent and Stanley Motta at 160 percent. Seven of the ten are projected to gain 300 percent or more, and even the lowest projection, for Stanley Motta, is 160 percent. The list mixes financial companies with consumer, property and manufacturing names, so the forecast is not tied to a single sector.
The forecast also overlaps with the past week’s movers. Berger Paints, Margaritaville and 138 Student Living were all winners this week, which suggests recent momentum is consistent with the ICInsider.com forecast. but, QWI Investments and Palace were both among the week’s losers, but are forecast to enjoy gains of 433 percent and 300 percent respectively. Investors may see this week’s declines in those two companies as a potential entry point, though forecasts of this size should be treated with caution given the volatility the Main Market showed this week.
Only three stocks rose and six declined in the Junior Market ICTOP10 during the week. The Main Market ICTOP10 ended with six stocks gaining and just two declining. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had one change, with Jamaica Broilers replacing Caribbean Cream. Guardian Holdings with the potential to gain 436 percent continues to hold the number one spot in the market with 138 Student Living at number 2 in the All JSE ICTOP10. Elite Diagnostics holds the number one spot in the Junior Market TOP10 followed by Express Catering.
The Main Market ICTOP10 Berger Paints added 13 percent to close at $8.34, Caribbean Producers and Scotia Group rose 6 percent to close at $9 and $55, Key Insurance and QWI Investments propped 5 percent to $2.30 and 90 cents respectively.
In the Junior Market IC TOP10 are 14 stocks, 29 percent of the market, with PEs ranging from 15 to 31 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
Just two stocks fell and 8 rose in the Junior Market ICTOP10 during the week, reversing last week’s adverse movement of just two rising and 8 falling. The performance of the Main Market ICTOP10 resulted in three stocks gaining while four declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. JMMB Group returns to the All JSETOP10 following a week’s absence along with Caribbean Producers, replacing the Junior Market, Access Financial and AMG Packaging. 
In Main Market ICTOP10 activity, Berger Paints shed 14 percent to close at $7.36, Key Insurance dropped 10 percent to $2.20, Caribbean Producers and Scotia Group lost 5 percent to $8.50 and $52 respectively.
In the Junior Market IC TOP10 are 12 stocks, 25 percent of the market, with PEs ranging from 15 to 32 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
The week’s movement resulted in just two stocks rising and 8 falling, with five suffering big losses in the Junior Market ICTOP10. The performance of the Main Market ICTOP10 was in sharp contrast to the Junior Market, as five stocks gained and only two declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. Key Insurance returns to the All JSETOP10 following a week’s absence and Access Financial returns, replacing JMMB Group and Pulse Investments, with earnings for both revised downward, following the release of September results.
In the Junior Market IC TOP10, Iron Rock Insurance was the only stock with a noteable gain, with the price rising 19 percent to $4.29. Lumber Depot dropped 22 percent to $2.08, Caribbean Flavours dived 14 percent to end trading at $1.20, Caribbean Assurance shed 13 percent to end at 2.51 and Express Catering fell 11 percent to $3.01.
The average PE for the JSE Main Market ICTOP 10 stands at just 5.6, well below the market average of 14.9 and the Junior Market TOP10 sits at 7.5, more than half of the market, with an average of 13.
The JSE Composite Index rose 10,029 points for a 3.11 percent gain for the week and 1.8 percent for the year to date, as the market takes on a more bullish tone, ahead of the close for the year.
After dropping out of the Junior Market ICTOP10 last week, Image Plus returns, replacing Knutsford Express.
In the Junior Market IC TOP10 are 12 stocks, 25 percent of the market, with PEs ranging from 15 to 33 with an average of 22 and a PE of 18 for half of the market with the highest PEs.
The week’s movement resulted in just one stock rising and seven falling in the Junior Market ICTOP10. In contrast to the Junior Market, only two stocks declined the Main Market TOP10 and six gained. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, has Guardian Holdings with the potential to rise 433 percent taking back the number one spot from Pulse Investments that held it last week and ended with the price jumping sharply, reducing its potential gains to 335 percent from 500 percent last week. Caribbean Cream replaced NCB Financial in the All JSE TOP10.
In Main Market ICTOP10 activity, Pulse Investments recovering from a sharp fall in the previous week, jumped a solid 38 percent to $1.38, Key Insurance gained 8 percent after ending at $2.15, 138 Student Living gained 6 percent to close at $4.27 followed by Margaritaville and Scotia Group up 4 percent to $12.50 and $53.89 respectively. Berger Paints fell 10 percent to $7.01.
In the Junior Market IC TOP10 are 13 stocks, 21 percent of the market, with PEs ranging from 15 to 31 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
Four stocks gained and five fell in the Junior Market TOP10 and the Main Market TOP10 had only one stock gaining and 8 declined.
The average PE for the JSE Main Market ICTOP 10 stands at 4.8, well below the market average of 14.4 and the Junior Market TOP10 sits at 7.6, more than half the market, with an average of 12.9.
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.
A measure of the Main Market performance can be gleaned from the All Jamaica Composite Index recording a mild increase to the end of November, with a cut in interest rates from just under 12 percent to 6.7 percent, with the market starting to rise from a bottom in September to a nine and a half months high at month end.
The top 10 losing stocks, recorded losses from 14 to 44 percent, with Pulse Investments as the leading loser dropping a hefty 44 percent, following the loss of its founder and chief executive earlier in the year, RJR Group, with a torrid year of lower revenues and heavy losses, was next with a decline of 36 percent followed by Proven Investments down 26 percent, with profit under pressure, NCB Group, with an increased supply of stock on the market following a tepidly received additional share issue in May this year, suffered a 26 loss and Sagicor Group 19 percent.
Against the above developments, just two stocks recorded gains and 5 fell in the Junior Market TOP10 and in the Main Market TOP10, only 3 stocks gained and 5 declined.
In Main Market ICTOP10 activity, Guardian Holdings climbed 4 percent to $315 and JMMB Group also gained 4 percent to $22.50. Pulse Investments dropped 11 percent to $1.16 and Berger Paints declined 9 percent to $7.80, 138 Student Living gave up 5 percent to close at $4.10 and VM Investments lost 4 percent in closing at $2.49.
In the Junior Market IC TOP10 are 14 stocks, 29 percent of the market, with PEs ranging from 15 to 32 with an average of 20 and a PE of 17 for half of the market with the highest PEs.
Against the above developments, two stocks gained and 7 fell in the Junior Market TOP10, in the Main Market TOP10 5 stocks gained and 3 declined.
In the Junior Market ICTOP10, no stock gained more than 2 percent. but Elite Diagnostic shed 12 percent to close at $1.85, Express Catering fell 10 percent to $3.14 and Jamaican Teas dipped 4 percent to $2.08.
In the Junior Market IC TOP10 are 11 stocks, 23 percent of the market, with PEs ranging from 15 to 29 with an average of 21 and a PE of 17 for half of the market with the highest PEs.