Stocks enjoyed a solid week with a rise of three percent after the All Jamaican Composite Index surged 14,114 points since last Friday and the market moved sharply up from the area of resistance around the 460,000 mark as the 4,215.85 points rise on Friday pushed the All Jamaican Composite Index to 473,387.69 on limited volume on the Jamaica Stock Exchange Main Market.
At the close, the JSE Main Index jumped 3,056.20 points to 437,322.11 and the JSE Financial Index gained 1.00 points to end at 109.15.
Trading ended on Friday with 56 securities versus 50 on Thursday, with 20 stocks rising, 28 declining and eight ending unchanged, with the volume and value of shares traded falling 59 percent and 81 percent lower than traded on Thursday, respectively.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.9 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 9,586,037 shares trading for $83,876,641 versus 23,420,303 units at $432,056,408 on Thursday. Wigton Windfarm led trading with 44.9 percent of total volume for 4.30 million shares, followed by Transjamaican Highway with 15.9 percent for 1.53 million units and Sagicor Select Financial Fund 10.9 percent, with 1.05 million units changing hands.
Trading averaged 171,179 units at $1,497,797, compared to 468,406 shares at $8,641,128 on Thursday. Trading month to date averages 258,696 units at $4,682,573, in contrast to 266,342 units at $4,960,806 on Thursday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has 14 stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments climbed 49 cents to $83.49 with 3,985 shares changing hands, Berger Paints fell $2.14 to $13.85 in transferring 23,784 shares,
Caribbean Cement rallied $3.80 to $94 with 19,468 stocks crossing the exchange, Eppley Caribbean Property Fund dropped $5.94 to settle at $36.01 in exchanging 739 shares. Grace Kennedy slipped 50 cents to close at $99.46 after a transfer of 31,523 stock units, Guardian Holdings ended $4 lower at $745 with the swapping of 2,390 units, Jamaica Producers lost 45 cents in closing at $24 in switching ownership of 5,788 stocks. Jamaica Stock Exchange gained 24 cents to end at $17.25 with 1,603 units clearing the market, JMMB Group shed 5 cents in ending at $38.45 while exchanging 101,132 stocks, after trading at an intraday 52 weeks’ high of $38.85, Kingston Properties dived 93 cents to $10.07 in exchanging 233 stocks. Kingston Wharves climbed 89 cents to $46.50, with a transfer of 13,291 stock units, Margaritaville fell 65 cents to $14.10 after exchanging 58 stocks, Mayberry Jamaican Equities dropped $1.04 to $8.51 in trading 4,028 units, NCB Financial Group shed 99 cents at $147 with 74,276 shares changing hands, Palace Amusement dipped $5 to $1,165 after 139 stock units crossed the market. Pan Jam Investment shed 70 cents to close at $69 with the swapping of 1,164 stocks, Portland JSX advanced $2.38 to $9.50 in transferring 2,000 shares, Sagicor Group climbed $9.84 to finish at $63.50 with an exchange of 37,269 stock units. Sagicor Real Estate Fund shed 73 cents to close at $8.32 with the swapping of 25,410 shares, Salada Foods rose 45 cents to end at $8.50 in an exchange of 33,109 stocks, Seprod advanced $1.70 to close at $74 in trading 3,331 stock units. 
Supreme Ventures gained 28 cents to end at $21.08 with 251,994 shares changing hands and Sygnus Credit Investments gained 21 cents to close at $15 after an exchange of 49,877 stocks.
There was increased trading activity in the preference segment on Friday, with ten active stocks. At the close, JMMB Group 7.15% – 2028 gained 15 cents in ending at $3.05 with 1,660 stock units crossing the market. JMMB Group 7.35% – 2028 rose 13 cents to close at $3.20 in exchanging 22,500 stocks, Jamaica Public Service 9.5% climbed $10 to $1,700 with 17,548 shares crossing the market and 138 Student Living Preference shares spiked $1.03 to $7.91 after exchanging 500 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The consolidation of the market from January this year resulted in a wedge formation that set up the market for a big break out that is now happening and led today to one of the biggest gains in the market index since March last year as the All Jamaican Composite Index surged 7,830.58 points to 469,171.84, the JSE Main Index spiked 6,192.88 points to 434,265.91. The JSE Financial Index added 1.96 points to end at 108.15.
Trading Thursday averaged 468,406 units at $8,641,128, compared to 170,751 shares at $1,092,604 on Wednesday. Trading for the month to date averages 266,342 units at $4,960,806, versus 249,247 units at $4,649,442 on Wednesday. May ended with an average of 439,937 units at $4,698,961.
Sagicor Group dropped $4.24 to $53.66 with 25,338 stocks changing hands, Sagicor Real Estate Fund increased 5 cents to close at a 52 weeks’ high of $9.05, trading 21,349 shares. Scotia Group rose $2.02 to $42 after an exchange of 104,968 shares, Seprod fell $1.70 to $72.30 in trading 10,488 units, Sterling Investments gained 20 cents in closing at $3 with a transfer of 21,700 stocks. Sygnus Credit Investments shed 40 cents in ending at $14.79 with 20,430 stock units crossing the exchange and Wisynco Group gained 54 cents to close at $15.95 in switching ownership of 108,466 shares.
The average day’s trade is 170,751 units at $1,092,604, compared to 427,653 shares at $3,811,578 on Tuesday. Trading month to date averages 249,247 units at $4,649,442, in contrast to 256,820 units at $4,992,587 on Tuesday. May ended with an average of 439,937 units at $4,698,961.
Pan Jam Investment fell $1.51 in closing at $65.05 in transferring 24,696 units, Proven Investments dived $1.90 to finish at $35 in an exchange of 345,327 shares, Sagicor Group spiked $5.90 to $57.90 in switching ownership of 58,795 stock units, Sagicor Real Estate Fund gained 70 cents to end at $9 in an exchange of 1,510 stocks, Salada Foods lost 20 cents to settle at $8 with a transfer of 44,470 shares. Seprod rose 99 cents to close at $74, with 9,423 units crossing the exchange, Supreme Ventures ended 72 cents higher at $20.80 after an exchange of 43,256 stock units, Sygnus Credit Investments gained 57 cents in closing at $15.19 in trading 121,657 stocks. Transjamaican Highway lost 3 cents to end at 52 weeks’ low of $1.17 with an exchange of 1,604,464 units and Wigton Windfarm dropped 4 cents to close at a 52 weeks’ closing low of 57 cents, after hitting an intraday low of 53 cents, with 4,336,688 units clearing the market.
At the close, the All Jamaican Composite Index dropped 3,021.82 points to 459,122.82, the JSE Main Index declined 2,454.99 points to end at 426,476.66 and the JSE Financial Index shed 1.04 points to 105.52 after Grace Kennedy traded at an intraday high of $100, while Transjamaica Highway and Wigton Windfarm traded at 52 weeks’ low of 90 cents and 55 cents, respectively.
Trading averages 427,653 shares at $3,811,578, compared to 282,767 units at $5,070,244 on Monday. Trading month to date averages 256,820 units at $4,992,587, in contrast to 238,579 units at $5,118,691 on Monday. May closed with an average of 439,937 units at $4,698,961.
Sagicor Group declined $3 to $52 in transferring 1,091,820 shares, Sagicor Real Estate Fund shed 69 cents to close at $8.30 after exchanging 75,292 units. Scotia Group shed $1 to end at $40 with the swapping of 426,297 shares. Seprod fell 99 cents to $73.01 in trading 14,521 stock units, Stanley Motta ended 51 cents lower at $5.89 after clearing the market with 6,300 shares, Supreme Ventures fell 92 cents to $20.08 with 97,939 stocks crossing the market and Sygnus Credit Investments shed 44 cents to end at $14.62 in transferring 77,877 stock units.
Investor’s Choice bid-offer indicator closed with a strong signal of 14 stocks ending with bids higher than their last selling prices and four closing lower offers, an indication that Tuesday’s trading should see a continuation of the current market rally. At the close of trading, the All Jamaican Composite Index pushed 2,871.41 points higher to 462,144.64 to now sit just above resistance level which now provides support for the market. The JSE Main Index rose 2,511.04 points to end at 428,931.65 and the JSE Financial Index inched 0.91 points higher to 106.56.
Trading ended with a 14 percent rise in the volume of stocks traded, with a 61 percent lower value than Friday, after 13,855,601 shares traded for $248,441,964 versus 12,127,180 units at $631,548,664 on Friday. Mayberry Jamaican Equities led trading with 26 percent of total volume for 3.61 million shares followed by Wigton Windfarm with 13.4 percent after an exchange of 1.85 million units, Transjamaican Highway accounted for 8.7 percent with 1.20 million units traded, Sagicor Select Financial Fund held to 8.6 percent after an exchange of 1.19 million units, Sagicor Select Manufacturing & Distribution Fund pulled out 8.3 percent with 1.15 million units and QWI Investments delivered 8.1 percent after trading 1.12 million units.
Proven Investments shed $1.94 in closing at $35.06, with 44,622 stocks crossing the market, Sagicor Group slipped $2 to $55 with 248,968 shares clearing the market. Salada Foods climbed 45 cents to $8.28 with 113,932 stock units crossing the exchange, Scotia Group jumped $1.44 to $41 in an exchange of 3,994 units, Seprod shed 99 cents to close at $74 with the transfer of 173,855 shares. Sterling Investments dipped 25 cents to $2.80 in switching ownership of 220,000 stock units, Supreme Ventures spiked 50 cents to close at $21 after clearing the market of 336,556 stock units, Sygnus Credit Investments ended 24 cents lower at $15.06 in an exchange of 256,748 units.
Other than Jetcon, prices of other TOP10 stocks had notable increases during the past week; these include; Jamaica Broilers and Grace Kennedy from the main market but Radio Jamaica, PanJam and Scotia Group prices took hits. In the Junior Market, Caribbean Cream, Access and Stationery and Office Supplies had nice gains resulted in the average gains projected slipping from 216 percent last week to 210 percent. The average projected gains for the Main Market stocks inched up last week from 169 to 170 percent.
The JSE All Jamaica Composite Index hit 466,915.58 points during the morning session on Friday, before closing lower at 459,273.23, up from 456,395.73, at the close of the previous week, as the market continues to wrestle with resistance.
This week’s focus: Access Financial Services came out with full year results that reflected increased lending and EPS of 50 cents in the March quarter. ICInsider.com upgraded earnings to just under $3 per share for the current fiscal year. Scotia Group also reported results for the six months to April, with a 12 percent rise in profit for the April quarter over the 2020 same quarter and an 11.4 percent rise for the six months results. The big negative is that the loan portfolio continued its decline into the April quarter. ICInsider.com now projects 2021 earnings at $4 per share.
The targeted PE ratio for the market averages 20 based on companies’ profits reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in periodic movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
At the close, the JSE Main Index fell 749.88 points to end at 426,420.61 and the JSE Financial Index slipped 0.09 points to 105.65.
Trading averaged 247,493 units at $12,888,748, compared to 193,417 shares at $3,594,165 on Thursday. Trading month to date averages 233,635 units at $5,124,111, in contrast to 231,890 units at $4,146,046 on Thursday. May ended with an average of 439,937 units at $4,698,961.
Sagicor Group spiked $3 to $57 after 526,416 shares cleared the market. Scotia Group fell 44 cents to close at $39.56, with 124,591 stocks changing hands. Seprod rose 99 cents to $74.99 after exchanging 57,110 stock units, Supreme Ventures gained 50 cents to close at $20.50 after trading 214,253 units and Wisynco Group shed 55 cents to end at $15.40 with 244,402 stock units changing hands.
Securities trading surged to 53 from 48 on Wednesday, with 29 rising, 18 declining and six ending unchanged. At the close, the JSE Main Index advanced 3,640.24 points to end at 427,170.49 and the JSE Financial Index gained 0.76 points to 105.74.
Trading averaged 193,417 units at $3,594,165, compared to 234,498 shares at $4,350,058 on Wednesday. Trading month to date averages 231,890 units at $4,146,046, in contrast to 237,958 units at $4,233,099 on Wednesday. May closed with an average of 439,937 units at $4,698,961.
Scotia Group shed $1 in ending at $40 after an exchange of 2,042,868 shares, Seprod shed 95 cents to close at $74 with 17,290 units changing hands, Stanley Motta rose 45 cents to $6.45 with 100 stock units crossing the market, Sygnus Credit Investments climbed 30 cents to $15.30 in exchanging 1,103,967 shares and Wisynco Group gained 60 cents to close at $15.95 with a transfer of 33,016 stock units.
At the close, the All Jamaican Composite Index dropped 1,444.91 points to finish at 456,233.10, the JSE Main Index shed 1,246.35 points to end at 423,530.25 and the JSE Financial Index slipped 0.50 points to 104.98.
Trading averaged 234,498 units at $4,350,058, versus 251,952 shares at $3,318,266 on Tuesday. Trading month to date averages 237,958 units at $4,233,099, in contrast to 238,535 units at $4,213,605 on Tuesday. May ended with an average of 439,937 units at $4,698,961.
PanJam Investment fell 99 cents to $67.01 trading 22,843 stocks, Proven Investments shed $1 in closing at $36 after a transfer of 701,801 shares, Sagicor Group rose 70 cents to $52.75 with 323,788 shares crossing the market. Sagicor Real Estate Fund popped 64 cents to $8.99 with the swapping of 294 stock units, Scotia Group shed 55 cents to close at $41 in exchanging 78,321 units. Seprod rallied $1.93 to $74.95 in trading 101,870 shares and Supreme Ventures declined 99 cents to $19.91 with an exchange of 75,612 stock units.
At the close of trading, the All Jamaican Composite Index climbed 678.47 points to finish at 457,678.01, just a few thousand points away from resistance around the 460,000 mark. The JSE Main Index rose 718.60 points to end at 424,776.60 and the JSE Financial Index popped 0.30 points to 105.48.
Trading averaged 251,952 units at $3,318,266, up from 143,638 shares at $2,497,595 on Monday. Trading month to date averages 238,535 units at $4,213,605, in contrast to 235,716 units at $4,401,702 on Monday. May ended with an average of 439,937 units at $4,698,961.
Sagicor Group fell 70 cents to $52.05 after 91,205 stock units crossed the exchange. Sagicor Real Estate Fund shed 64 cents to $8.35 with the swapping of 15,100 shares, Scotia Group gained 55 cents to $41.55 in trading 10,068 stocks. Seprod rose $1.02 to $73.02 in an exchange of 19,247 stock units, Supreme Ventures popped 90 cents higher to $20.90 in switching ownership of 26,108 units and Sygnus Credit Investments rallied 70 cents to $15 in trading 1,016,997 stocks.