Stocks rose to their highest level since mid-April on the Jamaican Stock Exchange Main Market in the past week, during the past week the Junior Market traded at the highest level in seven weeks, with moves in both markets confirming the bullish signal technical indicators been flashing for weeks.
The movement in the markets resulted in shifts in the IC TOP 10. In the Junior Market Top 10, Access Financial dropped out after a week with the price moving from $20.02 to $22 while AMG Packaging moving in to sit in ninth position. Jamaican Teas shareholders approved a three for one stock split leading the stock up to $6.70 from $5.50.
Eppley lost its Main Market TOP 10 position with the price moving up from $18.97 to $20.02 and is replaced by Jamaica Producers.
The top three stocks in the Junior Market with the potential to gain between 233 to 456 percent by March 2021are Caribbean Producers, followed by Elite Diagnostic and Limber Depot. With expected gains of 150 to 280 percent, the top three Main Market stocks are Berger Paints, followed by Radio Jamaica and Grace Kennedy in the third position.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating the potential gains ahead. 
The JSE Main Market ended the week, with an overall PE of 15.3 and the Junior Market 13.7, based on ICInsider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere 7.2 at just 53 percent to the average of the Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.7 or 57 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 202 percent and 140 percent for the JSE Main Market, based on 2020-21 earnings, indicating greater gains are likely in the Junior Market than the Main Market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 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.
Persons who compiled this report may have an interest in securities commented on in this report.
Transjamaican Highway controlled 4 percent market share, with 1.78 million units Sagicor Select Financial Fund accounted for 3.7 percent with 1.65 million units and Wigton Windfarm controlled 3.5 percent of the market with 1.57 million units.
MPC Caribbean Clean Energy dropped $7.01 in closing at $138 trading 836 units, Pan Jam Investment closed at $65, with gains of $1.76, trading 147,995 shares, Proven Investments shed 50 cents in closing at $38, with 10,286 stock units changing hands. Sagicor Group finished at $48, after losing 50 cents exchanging 151,507 shares and Scotia Group rose 80 cents to settle at $46 trading 5,512 units.
At the close, the All Jamaican Composite Index dropped 2,741.60 points to 424,462.68, the Main Index fell by 2,536.99 points to 387,308.51 and the JSE Financial Index lost 0.60 points to settle at 102.63.
Trading averaged 263,137 units changing hands at $9,978,750 for each security, compared to 366,759 shares at $16,456,068 on Wednesday. Month to date average trade ends at 267,957 units at $5,429,235 in contrast to 268,282 units at $5,122,619 on Wednesday. Trading for October averaged 398,200 units at $4,622,532.
Jamaica Stock Exchange rose 68 cents to settle at $19, with investors switching ownership of 36,204 shares, Kingston Wharves dropped $3.90 to $45 in trading 55,000 shares, Palace Amusement dived $34.99 to $1,265.01, in an exchange of 42 units. Pan Jam Investment shed 76 cents to end at $63.24 after trading 5,898 units, Proven Investments settled at $38.50, with gains of $1.64, in clearing the market with 2,642 units, Sagicor Group gained 40 cents to close at $48.50, with 38,536 shares crossing the exchange. Seprod ended at $62, with a loss of 50 cents trading 5,503 units and Supreme Ventures rose 55 cents to $15.90, with an exchange of 26,291 stock units.
At the close, the All Jamaican Composite Index surged 7,042.47 points to 427,204.28, the Main Index jumped 6,294.46 points to 389,845.50 and the JSE Financial Index added 2.61 points to settle at 103.23.
The average trade amounts to 366,759 units at $16,456,068 for each security, compared to an average of 331,704 shares at $4,518,526 on Tuesday. The average trade for the month to date ended at 268,282 units at $5,122,619 for each security, in contrast to 259,701 units at $4,135,150 on Tuesday. Trading for October averaged 398,200 units at $4,622,532 .
NCB Financial climbed $8 to $150, with 2,760,546 shares changing hands, Pan Jam Investment advanced by $2.84 to $64 after exchanging 11,719 units, Proven Investments declined by $2.14 in closing at $36.86, in trading 2,900 units. Salada Foods shed 79 cents to end at $27.50, with an exchange of 260 units, Scotia Group fell by $2.89 in closing at $45.06, with 172,829 shares changing hands and Supreme Ventures lost 65 cents to end at $15.35, after 27,135 stock units passed through the market.
Trading ended with an average of 331,704 units changing hands at $4,518,526 for each security compared to an average of 157,521 shares at $2,873,676 on Monday. The average trade for the month to date ended at 259,701 units at $4,135,150 for each security,in contrast to 253,170 units at $4,100,373. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
Mayberry Jamaican Equities gained 93 cents with 9,000 stock units passing through the market to end at $7.93, NCB Financial climbed $3.50 to $142 after 462,307 units changed hands, 138 Student Living declined by $1.38 to $3.51, with the swapping of one stock unit, Proven Investments shed 80 cents to end at $39 after trading 3,894 stocks. Scotia Group rose by $1.23 to $47.95 with 254 units changed hands, Seprod ended at $62.50, with gains of $1.75 after investors switched ownership of 19,669 stock units, Supreme Ventures finished 50 cents higher at $16, in trading 43,509 shares and Victoria Mutual Investments gained 30 cents to settle at $5.40, with 84,799 shares changing hands.
At the close, the All Jamaican Composite Index advanced by 1,062.24 points to 415,313.86, the Main Index climbed 1,066.43 points to 378,895.26 and the JSE Financial Index lost 0.34 points to settle at 99.03.
Trading ends with an average of 157,521 units at $2,873,676 for each security, in comparison to an average of 297,192 shares at $8,760,017 on Friday. The average trade for the month to date ended at 253,170 units at $4,100,373 for each security, in contrast to 263,467 units at $4,232,434. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
Sagicor Group closed at $48, with a loss of $1 with 20,399 stock units changing hands, Scotia Group carved out a loss of $1.43, in ending at $46.72, after 726 units cleared the market, Seprod declined $3.25 to $60.75 after exchanging 11,015 units. Stanley Motta gained 45 cents to close at $5.60, with 380 units changing hands, Supreme Ventures lost 47 cents to close at $15.50 after exchanging 99,556 shares and Victoria Mutual Investments shed 58 cents in closing at $5.10, with 487,968 shares crossing the exchange.
The move in the Main Market continues the move gradually higher ahead of the year-end and is in keeping with bullish signs that points to more gains ahead.
The company is on target to earn 50 cents per share for the current financial year ending June 2021.
The PE ratio for the Junior Market Top 10 stocks average a mere 7.1 at just 54 percent to the Junior Market average. The Main Market TOP 10 stocks trade at a PE of 8.7 or 55 percent of the PE of that market.
At the close, the All Jamaican Composite Index shed 1,633.76 points to 414,251.62, the Main Index declined by 1,510.85 points to 377,828.83 and the JSE Financial Index slipped just 0.01 point to settle at 99.37. The average PE Ratio ended at 15.4 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading ended with an average of 297,192 units changing hands at $8,760,017 for each security, versus an average of 320,366 shares at $5,764,643 on Thursday. The average trade for the month to date ended at 263,467 units at $4,232,434 for each security, in contrast to 259,799 units at $3,740,044 on Thursday. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
MPC Caribbean Clean Energy dropped $5 in closing at $135 after clearing the market with 3,413 units. Palace Amusement declined $145.12 to end at $1,100.01, with 20 units crossing the exchange, Pan Jam Investment shed 51 cents to settle at $61 while trading 7,280 units, Portland JSX finished at $8, with a loss of 99 cents and 1,813 units trading. Proven Investments climbed $3.39 to $39.89 and finishing with an exchange of 38,609 shares, Sagicor Group fell $1 to $49 after 35,711 shares crossed the market, Scotia Group gained 40 cents to close at $48.15 trading 312,940 shares and Seprod ended 50 cents higher at $64, with an exchange of 12,704 stock units.
The average traded was 320,366 units changing hands at $5,764,643 for each security, compared to 575,470 shares at $4,947,800 on Wednesday. The average trade for the month to date ends at 259,799 units at $3,740,044 for each security, in contrast to 252,610 units at $3,499,735 on Wednesday. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
Scotia Group rose $1.75 to $47.75, after trading 80,862 shares, Seprod closed $1.50 higher at $63.50, with investors switching ownership of 29,826 stock units, Sygnus Credit Investments gained 80 cents to end at $17.80, in exchanging 554,552 units. Victoria Mutual Investments rose 38 cents to end at $5.79, with 99,884 shares changing hands and Wisynco Group gained 32 cents to close at $15.26 after 119,591 stocks passed through the market.
At the close, the All Jamaican Composite Index lost 18.27 points and closed at 413,014.37, the Main Index shed 21.33 points to 376,752.06, but the JSE Financial Index gained 0.17 points to settle at 98.33.
Trading ended with an average of 575,470 units changing hands at $4,947,800 for each security, compared to 200,644 shares at $2,777,019 on Tuesday. The average trade for the month to date ends at 252,610 units at $3,499,735 for each security, in contrast to 205,389 units at $3,287,944. Trading month to date continues to compare adversely to October’s average of 398,200 units at $4,622,532.
Kingston Wharves rose $2.25 to $48.95 after clearing the market with 3,837 units. Mayberry Jamaican Equities gained 42 cents to close at $7.50, with 77,364 shares changing hands, MPC Caribbean Clean Energy dipped $8, in ending at $142 with the trading of 382 units, Pan Jam Investment gained 99 cents to close at $63.99, in trading 3,719 units. Proven Investments declined $2.43 to $36.07, with 4,000 units crossing the exchange, Salada Foods fell $1.90 to $26.39, after an exchange of just one tock unit, Scotia Group advanced $1.39 to $46, with the swapping of 159,766 shares. Seprod dropped $2 to $62 in exchanging 9,908 stock units, Supreme Ventures rose 44 cents to close at $15.89 trading 38,592 stock units and Sygnus Credit Investments lost 45 cents in closing at $17, with a transfer of 42,707 shares.