Trading activity on Monday ended with more stocks declining than rising, with the market indices falling for a second consecutive day, with an exchange of slightly fewer shares than on Friday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index dropped 1,195.51 points to 434,283.12, the Main Index declined 1,077.34 points to 395,960.93 and the JSE Financial Index slipped 0.03 points to 99.23.
Trading ended with 48 securities, up from 46 on Friday and closed with prices of 14 stocks rising, 22 declining and 12 remaining unchanged. The PE Ratio averages 19.4 based on ICInsider.com’s forecast of 2020-21 earnings.
Investors traded 10,151,888 shares for $94,956,792 compared to 10,947,226 units at $107,461,042 on Friday. Sagicor Select Manufacturing & Distribution Fund led trading with 17.1 percent of total volume, in exchanging 1.74 million shares, followed by Transjamaican Highway with 16.8 percent for 1.71 million units and Wisynco Group with 10.6 percent after 1.07 million units changed hands.
Trading for the day averaged 211,498 units at $1,978,267, compared to an average of 237,983 shares at $2,336,110 on Friday. Month to date trading averaged 273,377 units at $2,408,769, in contrast to 280,192 units at $2,458,483 on Friday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has eight stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments shed 45 cents to close at $80.05, trading 3,386 shares. Berger Paints slipped 34 cents to end at $13.20 after an exchange of 2,430 stock units, Caribbean Cement finished 47 cents lower at $68.43 trading 7,500 units, Carreras fell 93 cents to $9.07 with 771,565 shares changing hands. Eppley rose 40 cents to $29.90, with switching ownership of 657 stocks, First Rock Capital shed 79 cents to $15.21, with 5,500 shares crossing the market. Grace Kennedy dropped $5.69 to $86.26 with the swapping of 89,880 stock units, Jamaica Broilers lost 20 cents in closing at $30 after 148,307 shares crossed the exchange, Jamaica Producers declined $1.10 to $21.75 trading 11,390 stocks. Jamaica Stock Exchange slipped 49 cents to $18.36 after a transfer of 7,606 units, JMMB Group fell $1.05 to $31.85 in an exchange of 607,113 shares, Kingston Wharves shed 99 cents to close at $44 in trading 7,807 shares, Mayberry Jamaican Equities rose 50 cents to $8.10 with 421 stock units changing hands. PanJam Investment climbed $6 to $68, with 542 stock units crossing the exchange, Sagicor Group declined $1.40 to $48.49, with 269,556 shares changing hands.
Salada Foods lost 25 cents to close at $42.50 in a transfer of 7,326 units, Seprod fell 30 cents to $70.70 with 12,198 stock units crossing the exchange. Supreme Ventures shed 54 cents to end at $15.41 in swapping 8,467 shares and Wisynco Group closed 25 cents lower at $15.60, trading 1,072,382 shares.
In the preference segment, JMMB Group 7% rose 28 cents to $2.12 with an exchange of 32,878 stock units and JMMB Group 7.25% gained 14 cents to close at $1.86 trading 23,850 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Elsewhere, the 2021 TOP 15 listed Carreras that migrated from the 2021 ICTOP10 in February hit a new 52 weeks’ high during the week to sit at $10 for a rise of 45 percent for the year to date. The price could climb further, helped by improving profit and a high dividend yield. Future Energy Source (Fesco) hangs onto the Junior Market TOP10 list at the tenth position, with the prospectus still to be released to the public.
The Junior Market TOP10 contains companies that suffered a sharp reversal of revenues and profit in 2020, with recovery projected for them in 2021. Green shoots are showing for some, with sales picking up in recent quarters with improving bottom-line. Some of these companies may require another quarter or two of improving fortunes before there is meaningful buying into them. The Main Market has a number in the list that has put out record profits or shows strong earnings in 2021, with the stocks clearly undervalued. These include JMMB Group, Jamaica Broilers, Sygnus Credit Investments and Grace Kennedy that are currently in the TOP10 Main Market listing and Caribbean Cement that is just outside.
The top three stocks in the Junior Market with the potential to gain between 292 to 312 percent are Elite Diagnostic, followed by Caribbean Producers and Caribbean Cream. With expected gains of 190 to 441 percent, the top three Main Market stocks are Radio Jamaica, followed by VM Investments and PanJam Investment.
The Main Market TOP 10 stocks trade at a PE of 7.5 or 50 percent of that market’s PE.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and five with lower offers.
Sagicor Group rose 89 cents to $49.89 with the swapping of 267,625 shares, Salada Foods fell $1.75 to $42.75 after exchanging 459 stocks, Scotia Group shed 49 cents to close at $44 in switching ownership of 441,597 shares. Seprod declined $4.80 to end at $71 trading 32,504 units, Supreme Ventures gained 45 cents to end at $15.95 with 89,009 shares clearing the market and Victoria Mutual Investments shed 24 cents to close at $5.01 with 89,019 stocks crossing the market.
The All Jamaican Composite Index climbed 4,287.22 points to 436,237.85, the Main Index advanced by 3,845.10 points to 397,725.35 and the JSE Financial Index gained 0.85 points to close at 99.80.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and nine with lower offers.
Sagicor Group fell 99 cents to $49, with 2,825 shares crossing the market, Salada Foods climbed $3.50 to $44.50 with the swapping of 2,533 stock units, Scotia Group advanced $1.49 to $44.49, with 60,614 shares clearing the market. Seprod climbed $4.80 to close at $75.80 trading 20,614 stocks, Sterling Investments lost 32 cents in settle at $2.65 in switching ownership of 13,369 units, Supreme Ventures shed 45 cents to end at $15.50 trading 16,743 stock units and Sygnus Credit Investments advanced 54 cents to $14.99, with 33,181 shares crossing the market.
The All Jamaican Composite Index fell 655.57 points to 431,950.63, the Main Index shed 575.90 points to 393,880.25, while the JSE Financial Index slipped 0.19 points to settle at 98.95.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and five with lower offers.
Sagicor Group shed 61 cents in ending at $49.99 in switching ownership of 9,258 stocks, Sagicor Real Estate Fund gained 30 cents to $8.30 in a transfer of 2,466 shares, Salada Foods declined $2.90 to $41 trading 13,524 units. Scotia Group climbed $3 to $43 with 48,977 stock units crossing the market, Seprod rose $1 to $71, with 4,972 stocks changing hands, Supreme Ventures gained 30 cents in ending at $15.95 with 805,261 units crossing the exchange. Sygnus Credit Investments fell 26 cents to $14.45, trading 15,239 stocks and Wisynco Group shed 24 cents to close at $15.95 with the swapping of 36,249 stock units.
The All Jamaican Composite Index shed 1,460.68 points to close at 432,606.20, the Main Index fell 1,381.93 points to 394,456.15 and the JSE Financial Index shed 0.63 points to end at 99.14.
Investor’s Choice bid-offer indicator reading has 11 stocks ending with bids higher than their last selling prices and four with lower offers.
Salada Foods fell 60 cents to $43.90 trading 11,179 units, Scotia Group ended $3.99 lower at $40 with the swapping of 65,792 stock units, Supreme Ventures gained 21 cents to close at $15.65 in switching ownership of 20,943 shares. Sygnus Credit Investments fell 39 cents to $14.71 after exchanging 43,500 stock units and Wisynco Group gained 28 to end at $16.19, with 40,072 stock units changing hands.
The All Jamaican Composite Index rose 112.20 points to 434,066.88, the Main Index rose 101.54 points to 395,838.08 and the JSE Financial Index gained 0.25 points to settle at 99.77.
Investor’s Choice bid-offer indicator reading has eight stocks ending with bids higher than their last selling prices and six with lower offers.
Proven Investments rose 65 cents to $34.56, with the swapping of 138,367 shares, Salada Foods ended 50 cents higher at $44.50 after transferring 25,275 units. Scotia Group advanced 99 cents to $43.99 in exchanging 789 stocks, Seprod rose $1.81 to end at $70 trading 3,703 units and Sterling Investments gained 24 cents to close at $3.01 in switching ownership of 181 stocks.
The Main Market has a number in the list that have put out record profits or show signs of strong earnings with the stocks clearly undervalued; these include, JMMB Group, Jamaica Broilers, Sygnus Credit Investments, Grace Kennedy are currently in the TOP10 Main Market listing and Caribbean Cement that is just outside.
With expected gains of 165 to 456 percent, the top three Main Market stocks are Radio Jamaica, followed by VM Investments and PanJam Investment. 
The average projected gain for the Junior Market IC TOP 10 stocks is 274 percent and 181 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and two with lower offers.
138 Student Living lost 40 cents to close at $5.60 in an exchange of 100 units, Palace Amusement dropped $83.28 to close at $801.72, after exchanging 73 units, PanJam Investment rose $2 to $68 with the swapping of 19,468 stock units, Proven Investments climbed 71 cents to $33.91 trading 84,673 units. Sagicor Group shed 60 cents to $50.50 in switching ownership of 131,285 stock units. Salada Foods fell 50 cents to $44 with an exchange of 1,700 stocks, Scotia Group climbed $2.99 to $43 trading 565,293 shares, Supreme Ventures lost 64 cents to close at $15.31 in exchanging 11,850 units and Wisynco Group fell 33 cents to $15.90 and finishing trading of 133,175 stock units.
The All Jamaican Composite Index rose 1,755.38 points to 435,166.46, the Main Index gained 1,609.90 points to 396,833.17, but the JSE Financial Index lost 0.17 points to settle at 99.90.
Trading for the day averaged 242,367 units at $2,066,102, compared to 411,240 shares at $1,482,838 on Wednesday. Month to date trading averaged 328,734 units at $1,776,771, in contrast to 358,582 units at $1,676,782 on Wednesday. February closed with an average of 419,015 units at $2,509,660.
Sagicor Group shed 80 cents to $51.10 with the swapping of 74,129 stock units, Salada Foods rose $5.99 to $44.50 in an exchange of 38 units. Scotia Group fell $2.49 to end at $40.01 trading 40,887 shares, Seprod declined $1.77 to $68.23 in a transfer of 74,108 stock units, Sterling Investments lost 23 cents to end at $2.77 in exchanging 1,643,311 units. Supreme Ventures rose 95 cents to $15.95 trading 36,943 shares and Wisynco Group gained 23 cents to $16.23, with 25,585 units changing hands.