In another bullish trading session market activity ended on Monday, with the volume of shares trading declining 81 percent with the value plunging 91 percent lower than on Friday on the Jamaica Stock Exchange Main Market as the market started trading in the New Year on a somewhat bullish note, with a big surge in the main market indices.
The All Jamaican Composite Index spiked 5,120.48 points higher to 443,448.85, the JSE Main Index surged 4,165.18 points to 400,320.79 and the JSE Financial Index rose 0.29 points to settle at 98.34. A total of 56 securities traded, up from 51 on Friday, with 19 rising, 29 declining and eight ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.2. 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, 9,374,442 shares traded for $93,370,734 versus 49,011,312 units at $1,058,239,253 on Friday. Sterling Investments ed trading with 2.51 million shares for 26.8 percent of total volume followed by Wigton Windfarm with 1.38 million units for 14.7 percent of the day’s trade and JMMB Group 912,984 units, with 9.7 percent market share.
Trading averages 167,401 units at $1,667,335, compared to 961,006 shares at $20,749,789 on Friday. December closed with an average of 479,143 units at $6,686,322.
Investor’s Choice bid-offer indicator shows seven stocks ended with a bid higher than their last selling prices and three with lower offers.
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t the close, Barita Investments declined $1.82 to $96.after trading 24,509 stock units, Berger Paints rallied 90 cents to $13.40, with 20 units clearing the market. Eppley shed 45 cents in ending at $35.50 with an exchange of 362 stocks, Eppley Caribbean Property Fund dropped $3.99 in closing at $43, with 250 stocks crossing the exchange, First Rock Capital spiked 79 cents in closing at $11.49 in trading 21,158 units. GraceKennedy fell $2 to end at $100 in switching ownership of 125,740 stock units, Guardian Holdings increased $5.20 to $518.70 trading 64 shares, Jamaica Producers lost $1.37 to close at $22.12 in exchanging 683 stock units. Jamaica Stock Exchange fell 79 cents to $17.21 in exchanging 3,442 shares, strong>Kingston Wharves climbed 45 cents to end at $43.45 while exchanging 28,022 stocks, Margaritaville lost $1.30 to close at $14.70, with 3,200 units changing hands. Mayberry Investments dropped 80 cents to $7.20 with the swapping of 5,400 stock units, MPC Caribbean Clean Energy declined $15 to $100, with 812 shares crossing the market, NCB Financial shed $3.70 in closing at $125 after 127,117 units changed hands. 138 Student Living gained 65 cents to close at $5.10, with 14,826 shares crossing the market, Palace Amusement advanced $10 to end at $1050 after exchanging 4 stocks, PanJam Investment rose $1.51 to $67.51 in an exchange of 11,243 stocks, Proven Investments lost 51 cents in ending at $32.49 after exchanging 5,131 shares. 
Radio Jamaica popped 28 cents to close at $3.29 exchanging 833,060 units, Sagicor Group fell $4.85 in closing at $53.15 after 8,987 stock units changed hands, Scotia Group shed 90 cents to end at $35.50 with the swapping of 15,951 stocks. Seprod climbed 25 cents to $65.25, with 6,703 shares crossing the market, Stanley Motta rallied 30 cents $5.95 in trading 16,663 units, Supreme Ventures dropped 50 cents to close at $18, with 384 stock units changing hands and Sygnus Real Estate Finance declined 49 cents in closing at $15.51 clearing the market with 296 shares.
In the preference segment, JMMB Group 7.25% rose 61 cents in closing at $3.23 after trading 50 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
64% gains for ICTOP10 picks in 2021
The 2021 calendar year ended on Friday, with the Junior Market rising a near 30 percent and the Main Market just holding above the close of the prior year. Against this backdrop ICInsider.com TOP 15 stocks at the start of the year had a 53 percent average gain in the Junior Market but 64 percent when Honey Bun that was reported on in December 2020 and Future Energy Sources (Fesco) that was Buy Rated when the IPO hit the market was up and impressive 64 percent.
IC Buy Rated Caribbean Producers was by far the best performing stock on the JSE for 2021.
Only three Junior Market stocks declined amongst our selection with Elite being the worse with a loss of 11 percent.
TOP10 MM stock did not do as well as the JM but that was told to readers at the start of the year. The average gain for the TOP15 Main Market stocks was 10 percent that excludes Caribbean Producers. The highest gaining stock from the list was Radio Jamaica up 61 percent and Grace Kennedy 58 percent, the two worse performers were Berger Paints and Scotia Group down 12 percent each.
The big news for the market for the past week continues to be the Initial Public offer of Spur Tree Spices priced at $1 per share that was heavily oversubscribed.
Medical Disposables rose 7 percent for the week to $6.49 and dropped out of the TOP10 and was replaced by General Accident that comes in at $6. In the Main Market TOP10, Sagicor Group rose 9 percent for the week to close at $58 and was replaced by Scotia Group at $36.
During the week AMG Packaging rose 4 percent to $2.20, Access Financial Services lost 9 percent to $19, Lasco Distributors rose 6 percent to $3.47, Elite Diagnostic rose 5 percent to $2.85 and Honey Bun gained 8 percent to $9.25. In the Main Market, Caribbean Producers popped 9 percent to $13, JMMB Group and PanJam Investment rose 3 percent, while losses were suffered by Radio Jamaica down 5 percent and Sterling Investments with a fall of 7 percent
The top three Main Market stocks, this week are Guardian Holdings followed by JMMB Group and Radio Jamaica all projected to gain between 199 and 258 percent up from 183 and 261 percent last week.
The Junior Market top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers and Access Financial Services. All three can gain between 174 and 218 percent versus 158 and 230 percent, previously.
The average gains projected for the TOP 10 Junior Market stocks remained unchanged at 149 percent and Main Market stocks moved from 154 percent to this weeks’ 152 percent.
The Junior Market closed the week, with an average PE of 14.8 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. 
The TOP 10 stocks trade at a PE of a mere 8.2, with a 45 percent discount to that market’s average.
The Junior Market can gain 35 percent to March next year, based on an average PE of 20 and 15 percent based on an average PE of 17.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.2 representing a 50 percent discount to the market and well below the potential of 20. A total of 13 stocks or 28 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 Majors slip on big trading day
Investors kept up the robust activity when trading ended on Friday on the Jamaica Stock Exchange Main Market, with the volume of shares trading declining 43 percent and the value 50 percent lower than at the close on Thursday, with a healthy 49,011,312 shares changing hands for $1,058,239,253 down from 85,891,988 units at $2,099,498,233 leading to rising stocks beating out those declining two to one.
The All Jamaican Composite Index declined by 4,131.53 points to 438,328.37, up 1.1 percent for the year. The JSE Main Index dropped 3,119.89 points to 396,155.61 and ended the year with a marginal increase of 0.1 percent and the JSE Financial Index declined 1.03 points to settle at 98.05, down 4 percent for the year.
Similar to Thursday, 51 securities traded, with 28 rising, 14 declining and nine ending unchanged.
PE Ratios are formulae for computing appropriate stock values, averages 16.1. The PE ratios for the JSE Main and USD Market closing quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Wigton Windfarm led trading with 16.98 million shares for 34.7 percent of total volume followed by Carreras with 5.99 million units for 12.2 percent of the day’s trade and Sagicor Group with 4.17 million units for 8.5 percent market share. Scotia Group with 3.77 million units for 7.7 percent market share Other stocks that traded over a million include PanJam Investment with 2.84 million units for 5.8 percent market share and JMMB Group 7.35% – 2028 with 1.74 million units for 3.6 percent market share.
Trading on Friday averaged 961,006 units at $20,749,789 compared to 1,684,157 shares at $41,166,632 on Thursday and month to date an average of 479,143 units at $6,686,322, up from 455,849 units at 6,006,477 on Thursday. Trading in November averaged 479,143 units at $6,686,322.
The Investor’s Choice bid-offer indicator shows 18 stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments gained $1.52 and ended the year at $98.52 after trading 339,630 shares, Caribbean Cement rallied $2.40 to $73 in an exchange of 1,685,686 stock units. Caribbean Producers fell 45 cents to $13, with 144,817 stocks crossing the exchange, Eppley Caribbean Property Fund popped $3.99 in closing at $46.99 after trading 43,624 units, First Rock Capital declined 30 cents to $10.70, with 5,149 stock units clearing the market. GraceKennedy spiked $1.65 in closing at $102 while exchanging 1,327,995 stocks, Guardian Holdings increased 50 cents to $513.50 after exchanging 994 shares, Jamaica Broilers climbed $1.47 to end at $29.99 in trading 1,597,180 units. Jamaica Producers added $1.44 to close at $23.49 with an exchange of 519,535 stock units, Jamaica Stock Exchange popped 85 cents higher to $18 after 116,581 stocks passed through the market, JMMB Group increased $1.50 to $39.50 in trading 370,335 shares. Kingston Properties shed 49 cents in closing at $9 with the swapping of 310,100 stock units, Kingston Wharves climbed $2.05 to close at $43 in switching ownership of 422,472 shares, NCB Financial spiked $2.72 in ending at $128.70, with 158,674 units changing hands.
138 Student Living rose 26 cents to $4.45 trading 27,330 shares, Palace Amusement dropped $10 to $1040, with 21 stocks crossing the market, PanJam Investment advanced $1 to $66, with 2,835,794 units changing hands, Proven Investments lost 50 cents to end at $33 after exchanging 29,177 stocks. Pulse Investments fell 30 cents to $4.40 after exchanging 1,371,217 shares, Sagicor Group rose $2 to $58 with the swapping of 4,173,260 stock units, Sagicor Real Estate Fund gained 50 cents in closing at $8.50 in exchanging 127,331 units. Salada Foods rallied 47 cents to end at $6.97, with 16,259 stocks crossing the market, Scotia Group shed $1.21 to close at $36.40 after trading 3,774,443 shares, Seprod gained $3 after ending at $65 in an exchange of 46,626 stock units. Supreme Ventures climbed 40 cents to $18.50 in an exchange of 954,593 stocks, Sygnus Real Estate Finance advanced 59 cents to close at $16 after 400 stock units cleared the market and Wisynco Group popped 55 cents to $17.50 with an exchange of 479,961 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Carib Producers Top stock of the year & Juniors up 30%
The Jamaica Stock Exchange Junior Market closed out 2021 with the market Index climbing 29.7 percent to settle at 3,428.30 points while the JSE Main Market index rose a mere one percent to end at 396155.61 points, the JSE USD market closed at 195.51 points for a yearly gain of just 4.99 percent.
Caribbean Producers gained 364% in 2021.
The Junior Market had 32 winners and nine losers, with 2021 newly list Future Energy Source, rising a substantial 266 percent, Fosrich was up 155 percent with rising profit, Jamaica Teas that had a gallant year helped by its investment arm posting positive results and helping to post increased profits for the year and Lumber Depot, with improved results for the year, both companies had a 99 percent rally, followed by ISP Finance up 95 percent.
The JSE main market had 24 stocks rising between one percent and a high of 364 percent. 
Caribbean Producers was switched from the Junior Market in July this year to the Min Market with the price under $5 and ended the year as the best performing stock in the overall market with a towering gain of 364 percent with the price closing at $13. Had the switch not taken place the Junior Market would have recorded greater gains than it did. Ciboney rose 221 percent as investors speculated heavily on it and Salada Foods jumped 117 percent, with the bulk of the increase coming as a result of a misunderstanding about the stock value. The price is likely to suffer a sharp correction in 2022. 
Eppley Property gained 68 percent followed by Radio Jamaica with a 61 percent rise following big gains in profit for the half year that ended in September, this year and GraceKennedy rose 58 percent helped by continued growth in profit.
The average gain for the Junior Market stocks were 48 percent from 32 companies and a total of nine stocks lost an average of 16 percent in the Junior Market with the highest loss being 45 percent clocked up by CAC 2000.
The average gain for the Main Market stocks was 52 percent from 22 stocks and a total of 21 stocks lost an average of 15 percent in the Main Market with the highest loss being 33 percent clocked up by 1834 Investments and Wigton Windfarm.
Surge in trading for JSE Main Market
Trading surged at the close of market activity on Thursday, with the volume of shares trading rising 1,202 percent and the value jumping 2,297 percent higher than Wednesday on the Jamaica Stock Exchange Main Market, even as rising stocks was half as much as those declining.
At the close, the All Jamaican Composite Index jumped 2,495.30 points to end at 442,459.90, the JSE Main Index rose 2,173.27 points to 399,275.50 and the JSE Financial Index added 1.19 points to settle at 99.08. Trading ended with 51 securities, down from 55 on Wednesday, with 14 rising, 29 declining and eight left unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.1. The PE ratio for the JSE Main and USD Market quotes are based on earnings forecasts by ICInsider.com for companies with financial years ending between the current year and August 2022.
A total of 85,891,988 shares traded for $2,099,498,233, up from 6,598,285 units at $87,589,534 on Wednesday. Carreras led trading with 62.33 million shares for 72.6 percent of total volume, followed by GraceKennedy with 10.01 million units for 11.7 percent of the day’s trade and NCB Financial with 3.93 million units for 4.6 percent market share. 
Wigton Windfarm ended with 2.53 million units for 2.9 percent market share, Pulse Investments traded 1.89 million units for 2.2 percent market share and Transjamaican Highway 1.19 million units for 1.4 percent of the volume.
Trading ended with an average of 1,684,157 units at $41,166,632, up from 119,969 shares at $1,592,537 on Wednesday and month to date, an average of 455,849 units at $6,006,477, compared to 393,455 units at $4,220,453 on Wednesday. November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments climbed $1.50 to $97 while exchanging 106,233 shares, Caribbean Cement dropped $2.24 to end at $70.60 in switching ownership of 544,472 units, Caribbean Producers rose 45 cents to $13.45 in exchanging 35,136 stock units. Eppley Caribbean Property Fund fell 50 cents to close at $43, with 13,768 stocks crossing the market, First Rock Capital shed 40 cents to $11 in an exchange of 40,100 units, Guardian Holdings declined $2 to $513 after exchanging 18,386 shares. Jamaica Producers lost $1.25 to close at $22.05 with the swapping of 1,826 stock units, JMMB Group declined $1 to end at $38, with 38,027 stocks clearing the market, Kingston Properties gained 74 cents in ending at $9.49 after trading 100 stocks. 
NCB Financial fell $1.02 in closing at $125.98, with 3,926,391 shares changing hands, Palace Amusement climbed $5 to $1050 after trading 97 units, Radio Jamaica lost 35 cents to end at $2.90 in an exchange of 325,031 stock units. Sagicor Group rallied $3 to end at $56 closed trading 54,009 units, Sagicor Real Estate Fund shed 49 cents to close at $8, with 6,743 stocks crossing the market, Scotia Group dropped 28 cents to $37.61 trading 104,335 shares. Sygnus Credit Investments popped 25 cents to $14.90 with an exchange of 1,043,947 stock units and Sygnus Real Estate Finance shed 59 cents to close at $15.41 after exchanging 2,765 shares.
In the preference segment, Eppley 7.50% preference shares lost $1.38 to end at $6, with 10,320 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Huge bounce for JSE Main Market
NCB Financial price jumped $3 at the close of market activity on Wednesday and helped with rising stocks more than doubling those declining in sparking a spirited rally and sending the All Jamaican Composite Index up a healthy 8,093.27 points to close at 439,964.60 and pushed the JSE Main Index up by a substantial 6,970.65 points to 397,102.23 at the close of the Jamaica Stock Exchange Main Market.
The JSE Financial Index advanced 2.29 points to settle at 97.89.
Trading ended with 55 securities up from 54 on Tuesday, with 34 rising, 15 declining and six ending unchanged, with the volume of shares trading rising 63 percent more and the value 34 percent higher more than on Tuesday.
The PE Ratio, a formula for computing appropriate stock values, averages 16.2. The PE ratios for the JSE Main and USD Market closing quotes are based on earnings forecasts by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading ended with 6,598,285 shares for $87,589,534 versus 4,038,953 units at $65,415,335 on Tuesday. Wigton Windfarm led trading with 985,239 shares for 14.9 percent of total volume followed by Mayberry Investments with 950,031 units for 14.4 percent of the day’s trade and Carreras 506,223 units with a 7.7 percent market share.
Trading averages 119,969 units at $1,592,537 up from 74,795 shares at $1,211,395 on Tuesday and month to date, an average of 393,456 units at $4,220,453, compared to 409,305 units at $4,372,756 on Tuesday. November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments popped $3.02 to close at $95.50 after trading 224,205 shares, Caribbean Cement spiked $1.83 to $72.84 in switching ownership of 19,845 stock units. Caribbean Producers declined 49 cents in closing at $13, with 61,421 stocks clearing the market, Eppley Caribbean Property Fund advanced $1.05 in ending at $43.50 in swapping of 5,950 shares, First Rock Capital rallied 66 cents to $11.40 with an exchange of 2,350 units. GraceKennedy dropped 50 cents to close at $100.50 in exchanging 15,926 stocks, Guardian Holdings gained $5 after ending at $515, with 1,040 stock units changing hands, Jamaica Producers increased $1.37 in closing at $23.30 after trading 50 stocks. Jamaica Stock Exchange rose 27 cents to end at $17.27, with 8,812 shares crossing the market, JMMB Group increased 81 cents to $39 with an exchange of 351,409 units, Kingston Properties shed 75 cents to $8.75 in an exchange of 250 stock units. Margaritaville fell 79 cents to close at $16.01 trading 3,145 units, Mayberry Investments lost 86 cents in closing at $8 after 950,031 stock units crossed the market, Mayberry Jamaican Equities gained 45 cents to end at $9.45 trading 19,200 stocks. MPC Caribbean Clean Energy spiked $15 to $115 after exchanging 7 shares, NCB Financial jumped $3 in closing at $127 while exchanging 14,026 shares, 138 Student Living climbed 36 cents to end at $4.20 after exchanging 340 shares, Palace Amusement declined $5 to close at $1045 in switching ownership of 15 stocks. 
PanJam Investment rose 30 cents to $64.80 after trading 24,522 stock units, Sagicor Group fell $1.90 to end at $53, with 362,580 units crossing the market, Scotia Group popped $2.14 in ending at $37.89 after exchanging 4,111 stocks. Seprod lost 30 cents to end at $62 after exchanging 8,522 stock units, Supreme Ventures climbed 36 cents to end at $18.25 in an exchange of 249,082 shares and Wisynco Group rallied 27 cents to close at $16.92 after 29,876 units changed hands.
In the preference segment, Eppley 7.50% preference share advanced $1.58 in closing at $7.38, with 600 units clearing the market, JMMB Group 7.15% – 2028 popped 57 cents to end at $3.10 in trading 25 shares and JMMB Group 7.25% dropped 77 cents in closing at $2.40 trading 16,367 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Santa rally for JSE Main Market on Tuesday
Market activity ended on Tuesday, with the volume of shares trading declining 71 percent less and the value plunged 68 percent lower than Friday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining and sent the market indices substantially higher by the close.
The All Jamaican Composite Index jumped 3,803.79 points to 431,871.33, the JSE Main Index spiked 3,178.62 points to close at 390,131.58 and the JSE Financial Index rose 0.12 points to settle at 95.60.
Trading ended with 54 securities up from 51 on Friday, with 25 rising, 21 declining and eight closed unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.2. The PE ratios in the JSE Main and USD Market closing quotes are based on earnings forecasts by ICInsider.com for companies with financial years ending between the current year and August 2022.
Just 4,038,953 shares traded for $65,415,335 down from 13,887,175 units at $205,378,180 on Friday. Transjamaican Highway led trading with 654,165 shares for 16.2 percent of total volume followed by Pulse Investments with 552,036 units for 13.7 percent of the day’s trade and Wigton Windfarm 452,476 units with 11.2 percent market share.
Trading averages 74,795 units at $1,211,395, down from 272,298 shares at $4,027,023 on Friday and month to date, an average of 409,305 units at $4,372,756, compared to 429,488 units at $4,563,497 on Friday. Trading in November averaged 233,949 units at $2,695,416.
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, Barita Investments climbed $2.46 to $92.48 after exchanging 86,288 stock units, Berger Paints dipped $1.20 to $12.50 in an exchange of 9,154 units. Caribbean Cement fell 99 cents to $71.01 in trading 19,492 stocks, Caribbean Producers popped $1.51 to end at $13.49 after 155,338 units changed hands, Eppley gained $1.77 to end at $36, with 155 shares clearing the market. Guardian Holdings rallied 50 cents to $510 after trading 1,599 stock units, Jamaica Producers dropped $1.52 to $21.93 in exchanging 272,747 stocks, Jamaica Stock Exchange dropped 50 cents to close at $17 with the swapping of 20,976 stocks. JMMB Group lost 26 cents in closing at $38.19 while exchanging 54,023 units, Mayberry Investments rallied 86 cents to $8.86 after 110,577 stock units passed through the exchange, Mayberry Jamaican Equities shed 49 cents to $9 in switching ownership of 8,218 shares. NCB Financial spiked $2.50 to close at $124, with 217,511 units crossing the market, 138 Student Living declined 40 cents to close at $3.84, with 101 shares changing hands, Pulse Investments increased 28 cents to end at $4.88 trading 552,036 stocks, Sagicor Group rose $1.90 in closing at $54.90, with 49,413 stock units crossing the market.
Sagicor Real Estate Fund climbed 50 cents to close at $8.50 with an exchange of 20,250 shares, Scotia Group dropped $1.75 to $35.75 trading 116,304 shares, Seprod declined $1.70 to $62.30, with 8,951 stocks clearing the market. Sygnus Credit Investments fell 40 cents to $14.50 after an exchange of 24,904 stock units, Sygnus Real Estate Finance rallied 79 cents in closing at $16 with 3,548 units changing hands and Wisynco Group fell 25 cents to $16.65 in exchanging 13,797 stock units.
In the preference segment, JMMB Group 7.25% popped 41 cents to $3.17 in an exchange of 200 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Spur Tree Spices joins ICTOP10
The big news for the market for the past week was the release of the prospectus of the long-awaited Initial Public offer of Spur Tree Spices priced at $1 per share at PE of 8.7 based on earnings before tax and propelling the stock in this week’s Junior Market ICTOP10. Investors should also see the prospectus release for Jamaica Fibreglass Products this week or next.
Spur Tree pushed Jetcon Corporation out of the TOP10, with the latter enjoying a 9 percent price rise to 99 cents. Over in the Main Market TOP10, Sagicor Group rose just 2 percent to close at $53.
During the week, AMG Packaging rose 3 percent to $2.12, Access Financial Services climbed 7 percent to $20.95, Lasco Distributors rose 6 percent to $3.47, but Elite Diagnostic and Honey Bun both fell 10 percent to $2.71 and $8.55, respectively and Caribbean Cream fell 4 percent to $5.70.
The public offer for Spur Tree Spices shares opens on Wednesday this week and should be heavily oversubscribed, with closure likely by the end of the week.
This week, the top three Main Market stocks are Guardian Holdings, followed by JMMB Group and Radio Jamaica, all projected to gain between 183 and 261 percent, up from 178 and 257 percent last week.
The Junior Market top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers, with Access Financial Services moving from the second spot to the third position. All three can gain between 158 and 230 percent versus 167 and 240 percent previously.
The average gains projected for the TOP 10 Junior Market stocks moved from 149 percent last week to 151 percent and Main Market stocks moved from 155 percent to this weeks’ 154 percent.
The Junior Market closed the week with an average PE of 14.4 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 44 percent discount to that market’s average.
The Junior Market can gain 39 percent to March next year, based on an average PE of 20 and 18 percent based on an average PE of 17.
Eleven stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level, similar to last week, indicating that many others will rise towards the 17 mark in the months ahead.
The average PE for the JSE Main Market is 16.1, some 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.1, representing a 51 percent discount to the market and well below the potential of 20. A total of 13 stocks or 28 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.
Winning stocks beat losers 3 to 1 on Friday
Market activity ended on Friday, with the volume of shares trading rising after trading a marginally higher percent, with the value jumping 230 percent higher than on Thursday on the Jamaica Stock Exchange Main Market as rising stocks tripled those declining.
Measured by the market indices, stocks in the Main Market closed moderately lower than at the end of the previous week. The All Jamaican Composite Index popped 649.16 points on Friday to 428,067.54, the JSE Main Index advanced 512.58 points to settle at 386,952.96 and the JSE Financial Index rose 0.68 points to end at 95.48.
A total of 51 securities traded compared to 50 on Thursday, with 30 rising, ten declining and 11 were unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.1. The PE ratio for the JSE Main and USD Market closing quotes utilizes ICInsider.com’s earnings forecasts for companies with financial years ending between the current year and August 2022.
At the close, 13,887,175 shares traded for $205,378,180 versus 13,408,986 units at $62,324,646 on Thursday. Wigton Windfarm led trading with 4.74 million shares for 34.2 percent of total volume followed by Kingston Wharves 2.25 million units, with 16.2 percent of the day’s trade and JMMB Group 1.44 million units for 10.3 percent market share, Community & Workers Credit Union ended with 1.09 million units for 7.9 percent market share and Transjamaican Highway 1.02 million units for 7.3 percent of the market.
Trading averages 272,312 units at $4,027,023, versus 268,180 shares at $1,246,493 on Thursday and month to date, an average of 429,488 units at $4,563,497, against 438,986 units at $4,595,915 on Thursday. November closed with an average of 233,949 units at $2,695,416.
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, Caribbean Cement spiked $1 to $72 after an exchange of 56,904 shares, Caribbean Producers rose 48 cents to end at $11.98 in an exchange of 36,667 stocks, Eppley lost $1.77 after finishing at $34.23 and trading 67 units. Eppley Caribbean Property Fund rallied 50 cents in closing at $42.50 after exchanging 4,200 stock units, First Rock Capital dropped 27 cents to close at $10.73 in switching ownership of 433 stocks, Guardian Holdings popped $2 to end at $509.50, with 5,587 shares changing hands. Jamaica Broilers fell $1.45 to $28.50 after 26,220 stock units crossed the market, Jamaica Producers gained 56 cents to close at $23.45 with 2,329 units changing hands, JMMB Group rallied 42 cents to $38.45 in exchanging 1,436,088 shares.
Kingston Wharves advanced 90 cents in closing at $40.90 with 2,250,971 stock units passing through the market, Mayberry Jamaican Equities climbed 29 cents to $9.49 in trading 20,800 stocks, Palace Amusement advanced $10 to end at $1050, after 17 units crossed the exchange. Pulse Investments popped 29 cents to $4.60 after exchanging 606,284 stocks, Sagicor Group climbed $1.50 to close at $53 with the swapping of 64,511 stock units, Scotia Group rallied $1.80 to $37.50, trading 11,041 units. Seprod increased $1.70 to end at $64 with 4,864 shares changing hands and Sygnus Credit Investments shed 25 cents in closing at $14.90 with an exchange of 114,053 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE market up but stock prices mostly drop
Market activity ended on Thursday, with the volume of shares traded rising 284 percent and the value 23 percent lower than on Wednesday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining on a 5 to 3 ratio.
The All Jamaican Composite Index climbed 777.15 points to 427,418.38, the JSE Main Index rose 741.92 points to 386,440.38 and the JSE Financial Index rallied 0.14 points to 94.80. Fifty securities traded, versus 51 on Wednesday, with 25 rising, 15 declining and ten left unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasts by ICInsider.com for companies with financial years ending between the current year and August 2022.
In all, 13,408,986 shares traded for $62,324,646 versus 3,490,636 units at $80,777,884 on Wednesday. Wigton Windfarm led trading with 4.33 million shares for 32.3 percent of total volume, followed by Transjamaican Highway with 4.25 million units for 31.7 percent of the day’s trade and Pulse Investments with 1.03 million units for 7.7 percent market share.
Trading averages 268,180 units at $1,246,493, compared to 68,444 shares at $1,583,880 on Wednesday and month to date, an average of 438,986 units at $4,595,915, compared to 449,742 units at $4,806,835 on Wednesday. November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement dropped $1 to$71 after trading 34,078 shares, Caribbean Producers declined $1.30 to $11.50 with an exchange of 500,116 stock units, GraceKennedy rose 90 cents to $100.90 trading 78,602 stocks. Guardian Holdings rallied $2.38 to end at $507.50 in exchanging 1,832 units, Jamaica Producers popped 38 cents to close at $22.89 in switching ownership of 106 stocks, Kingston Wharves fell 89 cents to end at $40 after 61,505 shares changed hands. Mayberry Investments advanced 30 cents to $8 with the swapping of 106,990 units, Mayberry Jamaican Equities lost 25 cents in closing at $9.20 with an exchange of 12,500 stock units, MPC Caribbean Clean Energy dropped 98 cents to close at $100 in trading 749 stocks. NCB Financial spiked $1.70 after ending at $121.50, with 25,835 stock units changing hands, Palace Amusement gained $10 to end at $1040 while exchanging eight shares, PanJam Investment climbed 75 cents to close at $64.25 in exchanging 16,809 units. Proven Investments increased 25 cents in closing at $33.20 in an exchange of 9,160 units, Pulse Investments advanced 41 cents to $4.31, with 1,030,837 stock units changing hands, Sagicor Group fell 47 cents to $51.50 after exchanging 20,524 stocks. 
Sagicor Real Estate Fund rallied $1.93 in ending at $7.94, with 950 shares clearing the market, Scotia Group lost $1.30 in closing at $35.70, with 13,383 stock units crossing the exchange, Seprod increased 30 cents to $62.30 trading 1,534 shares. Supreme Ventures dropped 65 cents to end at $18 with the swapping of 24,507 units and Wisynco Group climbed 85 cents to $16.89, with 168,805 stocks clearing the market.
In the preference segment, JMMB Group 7.25% popped 36 cents to $2.76, trading 721 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.