JSE majors give up some gains

May 27, 2020 by

Jamaica Stock Exchange Main Market gave back some of the solid gains enjoyed on Tuesday as declining stocks outpaced declining ones and the volume and value of stocks trading rose.
At the close, the JSE All Jamaican Composite Index declined by 2,732.71 points to 418,091.63, the JSE Market Index dropped 2,473.80 points to 381,213.32 and the JSE Financial Index lost 0.29 points to 100.58.
The market closed with 49 securities changing hands in the Main and US dollar markets with prices of 16 stocks advancing, 21 declining and 12 securities trading firm. The JSE Main Market activity ended with 44 securities accounting for 18,437,961 units valued at $158,788,476, in contrast to 17,326,841 units valued at $105,645,502 from 45 securities on Tuesday.
Wigton Windfarm led trading with 5.8 million shares for 31.4 percent of total volume followed by Trans Jamaican Highway with 5.1 million units for 27.7 percent of the day’s trade and Carreras with 1.1 million units for 5.8 percent market share. Sagicor Select Financial Fund with 1.06 million shares was the only other company trading over a million units.
The Market closed with an average of 419,045 units at $3,608,829 for each security traded, in contrast to 385,041 units valued at an average of $2,347,678 on Tuesday. The average volume and value for the month to date amount to 361,176 units valued at $2,930,932 for each security changing hands, compared to 357,768 units with an average value of $2,888,684. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows twelve stocks ending with bids higher than their last selling prices and eight stocks closing with lower offers. The PE ratio of the market ended at 14.6, while the Main Market ended at 14.9 times 2020/21 earnings.
In the Main Market trading, Barita Investments lost 60 cents to close at $50.40, after trading 14,026 stock units, Caribbean Cement fell by $1 to $51, with an exchange of 418,010 shares, First Rock Capital climbed $2.40 to $14.75 after 8,014 units crossed the exchange. Grace Kennedy closed 61 cents lower at $57.99, with 365,867 shares changing hands, Jamaica Broilers gained 40 cents after swapping 186,450 shares to end at $26.50, Jamaica Stock Exchange picked up 40 cents to settle at $22.90, after exchanging 13,248 stock units. Kingston Wharves closed 99 cents higher at $54.99, with a transfer of 10,560 stock units, NCB Financial Group slipped 50 cents to end at $146.99, after swapping 318,361 shares, Palace Amusement advanced $100 to end at $1,300 while trading 80 units. PanJam Investment closed at $75.01, with a loss of 74 cents after exchanging 34,676 stock units, Proven Investments fell 99 cents to finish at $35, in swapping 26,455 stock units, Sagicor Real Estate Fund ended 84 cents lower at $7.10, with 105,300 shares changing hands. Salada Foods declined $1.50 to $28.50 after 15,492 stock units changed hands, Seprod lost 44 cents to close at $53.56, in trading 51,316 stock units, Stanley Motta finished at $4.70, having lost 35 cents in swapping 12,264 units. Supreme Ventures ended at $15.70, with a rise of 70 cents in exchanging 645,967 shares and Sygnus Credit Investments gained 79 cents with 38,427 stock units crossing the exchange and closed at $16.99.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main Market surges to monthly high

May 26, 2020 by

After closing on Monday for the Labour day holiday, the Main Market of the Jamaica Stock Exchange roar back to life after falling on Friday, with the market indices jumping more than 6,000 points and wiping out Friday’s losses to close at the highest level since the April 22.
At the close, the JSE All Jamaican Composite Index advanced by 6,794.20 points to 420,824.34, the JSE Market Index climbed 6,322.58 points to 383,687.12 and the JSE Financial Index gained 1.80 points to 100.87.
The market closed with 48 securities changing hands in the Main and US dollar markets with prices of 15 stocks advancing, 13 declining and 20 securities trading firm. The JSE Main Market activity ended with 45 securities accounting for 17,326,841 units valued at $105,645,502, in contrast to 19,035,180 units valued at $127,444,585 from 40 securities on Friday.
Wigton Windfarm led trading with 9.55 million shares for 55 percent of total volume followed by Trans Jamaican Highway with 2.9 million units for 17 percent of the day’s trade and Sagicor Select Financial Fund with 1.1 million units for 6.3 percent market share.
The Market closed with an average of 385,041 units at $2,347,678 for each security trading, in contrast to 475,880 units valued at an average of $3,186,115 on Friday. The average volume and value for the month to date amount to 357,768 units valued $2,888,684 for each security changing hands, compared to 356,019 units with an average of $2,925,515. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and seven stocks closing with lower offers. The PE ratio of the market ended at 14.7, while the Main Market ended at 15 times 2020-21 earnings.
In the Main Market, Caribbean Cement closed at $52, with gains of $3.60 trading 36,034 stock units, Eppley Caribbean Property Fund closed 98 cents higher exchanging 101 units at $37, First Rock Capital gained $1.20 to close $12.35, in transferring 125,317 shares. Grace Kennedy picked up 60 cents to close at $58.60, after swapping 92,756 shares, Jamaica Broilers shed 40 cents trading 31,005 stock units to settle at $26.10, Jamaica Producers advanced $1.50 to $21.50, after swapping 3,786 units. Key Insurance ended 38 cents lower at $5, with an exchange of 10,592 units, Kingston Wharves fell by $3 to $54, in transferring 7,208 units, MPC Caribbean Clean Energy jumped $25 to $176 while trading 140 units. NCB Financial Group slipped to $147.49, with a loss of 51 cents with 321,990 shares changing hands, 138 Student Living closed 31 cents lower at $6.69, after exchanging 408 units, Palace Amusement declined by $100 to end at $1,200, with a transfer of just 10 units. Proven Investments closed 51 cents lower at $35.99, transferring 12,181 stock units, Sagicor Group rose 80 cents to $45.80, with 36,265 stock units changing hands, Salada Foods advanced by $4 to $30 trading only one unit. Scotia Group fell by $2.21 to $44.79, in transferring 40,568 stock units, Seprod gained $1 to end at $54, in exchanging 36,296 stock units and Supreme Ventures ended 95 cents lower at $15, with 572,803 shares crossing the exchange.
In the preference segment, 138 Student Living variable rate, stock, lost $1 to end at $5 with 216 shares trading

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

BUY RATED General Accident jumps 28%

May 24, 2020 by

The big news for the past week was a 28 percent jump in the price of General Accident shares, following the release of the first-quarter results. The stock last traded at $6.01 after rising to a high of $6.63 on Friday and dropped out of the Junior Market TOP 10.

General Accident is now out of IC TOP 10 with Q1 profit more than doubling.

During the week, investors pushed the Junior Market up 4 percent but barely moved the Main Market higher, with less than a percentage point rise. This trend is worth watching as bullish indicators point to more gains for Junior Market stocks going forward, with the latter being highly undervalued compared to the Main Market.
Medical Disposables rose from $6.20 at the start of the week to close at $7 and was the other stock to fall out of Junior Market, IC TOP 10. Coming into the TOP 10 are CAC2000 and Elite Diagnostic. The latter faced challenges in critical machine operation, resulting in lost income. Management stated that they “continue to have challenges getting the CT and MRI machines” at the St Ann branch operational. The company will hopefully resolve the problems soon so that the 2021 fiscal year can deliver optimally. Revenue for the 3rd quarter rose to $111.4 million, from $107 million the previous year and resulted in a loss of $2 million compared to a profit of $16 million the past year. In the Main Market, Proven Investments dropped out of the TOP 10 and replaced by Victoria Mutual Investments.
The three top Junior Market stocks with the potential to gain between 344 to 634 percent by 2021 are Caribbean Producers, followed by KLE Group and Lasco Financial. In the Main Market, Radio Jamaica continues to lead, followed by Berger Paints and JMMB Group with projected gains of 165 to 190 percent.
This week’s focus: General Accident reported profit rising 146 percent to $76 million, with investment and other income moving from just $7 million to $74 million. The report showed no cost-benefit from savings that could result from lower motor vehicle accident claims, from sharply reduced motor vehicle usage, since March. Gross Premiums written declined to $2.54 billion from $2.69 billion, but Net Premiums written increased to $689 million from $543 million. Claims rose to $448 million from $294 million in 2019. The December quarter usually generates the highest profit, with claims accounted for conservatively in the earlier quarters adjusted to reflect expected amounts. The new subsidiary, Trinidad based MotorOne Insurance made a small loss of $2 million in the quarter, an indication that not much contribution to profit is expected from it for the current year, it could add to 2021 profit for the group. Total assets of the company grew substantially since March last year from $7.5 billion to $12 billion in the current year, with liabilities rising by $3.5 billion.
Over at Jamaican Teas a report in the newspaper stated, “President of the Jamaica Manufacturers and Exporters Association, JMEA, Richard Pandohie, says the coronavirus has opened trade doors that the sector had been knocking on for a long time.”
“On one level there have been great ­stories where those businesses have exploded in terms of exports. A lot of small manufacturers who are into natural juices, and natural products from cassava and natural spices have gone into markets that they have trying to do for years,” Pandohie told the Financial Gleaner.
One company that has seen an uptick in business, Jamaican Teas, had to lay on new work shifts and extra production days to keep up with export demand.
“Because of our product base, there’s been strong demand overseas to the extent that we’re doing over time, even on Saturdays, keeping up with the extra demand, said JamTeas CEO John Mahfood.
Although General Accident stock is now out of the Junior market IC TOP 10 listing, it boasts a PE ratio of just 7 versus the market average of 9.4 times this years’ earnings, an indication of potentially more upside for it.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results for the financial year ending after 2020 second quarter up to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 14 and the Junior Market at just 9.4, based on current 2020-21 earnings. The PE ratio for Junior Market Top 10 stocks averages a mere 5.2 with or 55 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at 8.7 or 62 percent of the PE of the overall market.
The average projected gain for the IC TOP 10 stocks is 319 percent, for the Junior Market and 136 percent for the JSE Main Market, based on 2020-21 earnings, an indication that there is potential to make greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver some of the best returns up to March 2021. Forecasted earnings and PE ratios for the current fiscal year are used in determining potential gains. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. 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.

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main market drops

May 22, 2020 by

Jamaica Stock Exchange Main Market declined at the close of trading on Friday, with an increased volume of stocks trading, but at a lower value than on Thursday.
At the close, the JSE All Jamaican Composite Index declined 2,739.44 points to 414,030.14, the JSE Market Index dropped 2,589.23 points to 377,364.54 and the JSE Financial Index lost 0.66 points to 99.07.
The market closed with 47 securities changing hands in the Main and US dollar markets with prices of 20 stocks advancing, 16 declining and 11 securities trading firm. The JSE Main Market activity ended with 40 securities accounting for 19,035,180 units valued at $127,444,585, in contrast to 11,035,315 units valued $112,835,625 from 41 securities on Thursday.
Wigton Windfarm led trading with 9.9 million shares for 52 percent of total volume followed by Trans Jamaican Highway with 4.6 million units for 24 percent of the day’s trade and Sagicor Select Financial Fund with 1.4 million units for 7 percent market share.
The Market closed with an average of 475,880 units valued $3,186,115 for each security traded, in contrast to 269,154 units valued at an average of $2,752,088 on Thursday. The average volume and value for the month to date amount to 356,019 units valued at $2,925,515 for each security changing hands, compared to 348,777 units with an average of $2,908,729. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and six stocks closing with lower offers. The PE ratio of the market ended at 14.5, while the Main Market ended at 14.8 times 2020-21 earnings.
In the Main Market, Barita Investments gained 50 cents trading 7,900 units to end at $51, Caribbean Cement fell $1.10 to $48.40, in exchanging 31,502 stock units, First Rock Capital shed 35 cents transferring 3,450 units to settle at $11.15. Jamaica Stock Exchange closed 47 cents lower to finish at $22.50, with 12,637 units changing hands, Key Insurance picked up 88 cents to end at $5.38, after swapping 6,354 units, Kingston Wharves dropped $1.25 to close at $57, after swapping 12,168 units. Mayberry Investments gained 40 cents to close at $6 after exchanging 114,835 shares, Mayberry Jamaican Equities picked up 60 cents to end at $10, with a transfer of 3,252 units, MPC Caribbean Clean Energy declined by $19 trading 511 units and closed at $151. NCB Financial Group advanced $8 to $148, with 494,118 shares changing hands, 138 Student Living closed 75 cents lower at $7, after swapping 88,036 stock units, Palace Amusement clawed back $200 to advance to $1,300, after trading 88 units. Proven Investments climbed $2 to finish at $36.50, with 11,045 units crossing the exchange, Sagicor Group traded 39,346 stock units at $45, after gaining 40 cents, Scotia Group advanced by $3 to $47, in transferring 155,397 shares. Seprod climbed $2 to $53 exchanging 19,307 units and Wisynco Group ended the day’s trade 32 cents lower at $17.58, in swapping 38,239 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main Market slips on Thursday

May 21, 2020 by

Jamaica Stock Exchange’s main market lost altitude in Thursday’s trading as declining stocks edged out advancing ones on a day with moderately less volume trading at a higher value than on Wednesday.
At the close, the JSE All Jamaican Composite Index declined 505.76 points to 416,769.58, the JSE Market Index shed 457.79 points to close at 379,953.77 and the JSE Financial Index lost 0.99 points to end at 99.73.
The market closed with 43 securities changing hands in the Main and US dollar markets with prices of 17 stocks advancing, 19 declining and seven securities trading firm. The JSE Main Market activity ended with 41 securities accounting for 11,035,315 units valued $112,835,625, in contrast to 11,610,708 units valued at $178,231,093 from 46 securities on Wednesday.
Trading was more evenly spread among stocks, than for some time and ended, with Wigton Windfarm trading 2.4 million shares for 21.5 percent of total volume. Trans Jamaican Highway followed with 2.05 million units for 18.6 percent of the day’s trade and Sagicor Select Financial Fund, with 2 million units for 18 percent market share.
The Market closed with an average of 269,154 units of $2,752,088 for each security traded, in contrast to 283,188 units valued at an average of $4,347,100 on Wednesday. The average volume and value for the month to date amount to 348,777 units valued at $2,908,729 for each security changing hands, compared to 354,034 units with an average value of $2,919,802. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and eight stocks closing with lower offers. The PE ratio of the market ended at 14.4, while the Main Market ended at 14.8 times 2020-21 earnings.
In the Main Market activity, Barita Investments closed 50 cents lower at $50.50, in exchanging 6,647 units, Caribbean Cement shed 49 cents trading 9,810 units and closed at $49.50, Jamaica Producers fell $1.40 to $20.10, with a transfer of 168,477 shares. Jamaica Stock Exchange added $1.07 to end at $22.97, after swapping 66,339 shares, Key Insurance declined to $4.50, with a loss of $1 after exchanging 97,762 shares, Kingston Properties gained 30 cents to finish at $6.30, in transferring 6,000 units. Kingston Wharves climbed $4.25 to $58.25, with 1,327 units changing hands, Mayberry Investments lost 40 cents to close at $5.60 with 30,485 stock units changing hands, Mayberry Jamaican Equities exchanged 27,317 stock units after shedding 60 cents to end at $9.40, and is trading at an 11.5 percent premium to the Net Asset Value as of May 18, of J$8.15. Palace Amusement closed $200 lower to $1,100, in trading 81 units, Proven Investments lost 50 cents to settle at $34.50 in swapping 2,417 units, Salada Foods declined to $26, with a loss of $2 after transferring 9,397 units. Scotia Group closed at $44, after losing $1 and exchanging 5,173 units and Sygnus Credit Investments ended the day 90 cents higher at $16, with 4,069 units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main Market jumps – Wednesday

May 20, 2020 by

The Jamaica Stock Exchange Main Market recovered all the losses in the leading indices and more suffered on Tuesday, at the end of trading on Wednesday. At the close, the JSE All Jamaican Composite Index surging 7,405.57 points to 417,275.34, the JSE Market Index jumping 6,660.37 points to 380,411.56 and the JSE Financial Index rose 1.86 points to 100.72.
The market closed with 46 securities changing hands in the Main and US dollar markets with prices of 15 stocks advancing, 16 declining and 15 securities trading firm. The JSE Main Market activity ended with 41 securities changing hands accounting for 11,610,708 units valued at $178,231,093, in contrast to 17,254,018 units valued at $121,600,273 from 45 securities on Tuesday.
Trans Jamaican Highway led trading with 4.8 million shares for 41.4 percent of total volume followed by Wigton Windfarm with 1.4 million units for 11.7 percent of the day’s trade and Sagicor Select Financial Fund with 785,416 units for 6.8 percent market share.
The Market closed with an average of 283,188 units valued $4,347,100 for each security traded, in contrast to 383,423 units valued at an average of $2,702,228 on Tuesday. The average volume and value for the month to date amount to 354,034 units valued at $2,919,802 for each security changing hands, compared to 359,042 units with an average of $2,811,232. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows ten stocks ending with bids higher than their last selling prices and five stocks closing with lower offers. The PE ratio of the market ended at 14.4, while the Main Market ended at 14.8 times 2020-21 earnings.
In the Main Market, Caribbean Cement ended at $49.99, with a loss of $1.51 trading 34,732 stock units, Eppley advanced to $16.99, after climbing $1.49 exchanging 188,437 shares, Eppley Caribbean Property Fund closed $1.37 lower to $36.02, in swapping 905 units. First Rock Capital picked up 50 cents to settle at $11.50, with 500 units changing hands, Jamaica Producers gained 50 cents transferring 262,775 shares and closed at $21.50, Jamaica Stock Exchange advanced $1.10 to $21.90, in trading 29,956 stock units. Key Insurance fell 70 cents to $5.50, with an exchange of 34,397 stock units, Mayberry Jamaican Equities gained 63 cents to end at $10, after swapping 15,664 units, NCB Financial Group declined by $10 to end at $140, after exchanging 397,829 shares. Palace Amusement ended the day’s trade $60 lower at $1,300, in transferring 50 units, Proven Investments fell $1 to $35, with 1,284 units changing hands, Sagicor Group picked up 49 cents to finish at $45.49, in trading 84,426 shares and Scotia Group closed at $45, with gains of $1 exchanging 92,849 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

NCB Financial knocks JSE Main Market

May 19, 2020 by

The Main Market of the Jamaica Stock Exchange declined on Tuesday as NCB financial dropped from $150 down to a day’s low of $140 and was the main stock that inflicted the bulk of the damage to the market index.
At the close, the JSE All Jamaican Composite Index dropped 4,151.98 points to 409,869.77, the JSE Market Index declined by 3,680.65 points to 373,751.19 and the JSE Financial Index shed 2.12 points to close at 98.86.
The market closed with 49 securities changing hands in the Main and US dollar markets with prices of 20 stocks advancing, 18 declining and 11 securities trading firm. The JSE Main Market activity ended with 45 securities accounting for 17,254,018 units valued $121,600,273, in contrast to 20,915,712 units valued at $107,984,225 from 42 securities on Monday.
Trans Jamaican Highway led trading with 8 million shares for 46.4 percent of total volume followed by Wigton Windfarm with 4 million units for 23.4 percent of the day’s trade and JMMB Group 7.25% preference share with 1.5 million units for 8.7 percent market share.
The Market closed with an average of 383,423 units valued $2,702,228 for each security traded, in contrast to 497,993 units valued at an average of $2,571,053 on Monday. The average volume and value for the month to date amount to 359,042 units priced at $2,811,232 for each security changing hands, compared to 356,991 units with an average value of $2,844,401. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and seven stocks closing with lower offers. The PE ratio of the market ended at 14.4, while the Main Market ended at 14.8 times 2020-21 earnings.
In the Main Market, Caribbean Cement lost 50 cents to close at $51.50, in transferring 9,923 units, Eppley ended 50 cents higher at $15.50 after exchanging 2,060 units, Eppley Caribbean Property Fund added $1.89 to finish at $37.39, with 1,532 units changing hands. First Rock Capital closed at $11, with a loss of 40 cents swapping 5,465 units, Jamaica Stock Exchange picked up 80 cents trading 12,496 stock units to close at $20.80. JMMB Group transferred 158,678 shares at $34, after losing 51 cents, Key Insurance fell 80 cents to $6.20, with an exchange of 97,758 shares, Kingston Wharves jumped $6.02 to $54 trading 60,956 stock units. Mayberry Investments gained 40 cents to end at $6, in transferring 145,068 shares, MPC Caribbean Clean Energy declined $5 to end at $170, after exchanging 1,327 units, 138 Student Living gained $1 swapping 108 units and closed at $8. Palace Amusement ended the day $140 lower at $1,360, with 141 units changing hands, PanJam Investment shed 45 cents to settle at $75.75, in trading 9,717 units, Portland JSX picked up 94 cents swapping a mere five units to end at $8.60. Sagicor Group finished 50 cents lower at $45, with an exchange of 80,664 shares, Salada Foods added $1 to end at $28, in transferring 420 units, Scotia Group closed at $44, with a loss of $1 in trading 95,850 shares. Seprod gained 91 cents to reach $51, after exchanging 27,258 stock units, Supreme Ventures advanced $1.99 to $16 with 685,165 shares changing hands, Victoria Mutual Investments gained 31 cents in swapping 18,768 stock units to finish at $7.48 and Wisynco Group rose 30 cents to $18, with 108,499 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

More gains for Jamaican stocks – Monday

May 18, 2020 by

nitThe Main Market of the Jamaica Stock Exchange rose on Monday for the eight in ten days as the market closed higher with the prices of more stocks rising than falling.
At the close, the JSE All Jamaican Composite Index advanced by 2,548.29 points to 414,021.75, the JSE Market Index climbed 2,365.35 points to 377,431.84 and the JSE Financial Index rose 0.56 points to 100.98.
The market closed with 49 securities changing hands in the Main and US dollar markets with prices of 18 stocks advancing, 15 declining and 16 securities trading firm. The JSE Main Market activity ended with 42 securities accounting for 20,915,712 units valued at $107,984,225, in contrast to 24,395,591 units valued at $156,997,429 from 41 securities on Friday.
Sagicor Select Financial Fund led trading with 6.6 million shares for 31.7 percent of total volume followed by Trans Jamaican Highway with 5.7 million units for 27.4 percent of the day’s trade and Wigton Windfarm with 1.9 million units for 9 percent market share.
The Market closed with an average of 497,993 units at $2,571,053 for each security traded, in contrast to 595,014 units valued at an average of $3,829,206 on Friday. The average volume and value for the month to date amount to 356,991 units valued at $2,821,161 for each security changing hands, compared to 344,979 units with an average cost of $2,844,401. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and ten stocks closing with lower offers. The PE ratio of the market ended at 14.2, while the Main Market ended at 14.4 times 2020-21 earnings.
In the Main Market, Caribbean Cement climbed $1.60 to $52 while transferring 31,886 stock units, Eppley added 75 cents higher to end at $15 trading 15,729 units, Eppley Caribbean Property Fund advanced to $35.50, with gains of $3.22 in swapping 1,160 units. First Rock Capital closed at $11.40, after picking up 90 cents and transferring 10,481 units, Jamaica Broilers closed $2.49 higher to $26.49, in trading 38,228 stock units, Jamaica Producers shed 50 cents to settle at $21, with 53,033 shares changing hands. Jamaica Stock Exchange gained $1 after swapping 4,605 units and closed at $20, JMMB Group transferred 384,909 shares at $34.51, after rising 51 cents, Key Insurance lost 60 cents exchanging 101,689 shares to end at $7. Mayberry Jamaican Equities closed 45 cents higher at $9.44, in swapping 33,490 stock units, 138 Student Living fell by $1.80 to $7, after trading 20,700 units, Proven Investments shed 60 cents to settle at $35.90, with 11,305 units changing hands. Salada Foods climbed $2 to $27, transferring 1,024 units, Scotia Group advanced by $$2.98 to $45, with an exchange of 59,670 shares, Supreme Ventures closed $1.36 lower to $14.01, after swapping 935,846 shares. Sygnus Credit Investments declined by $3.45 to end at $15.15, in trading 266,450 stock us and Victoria Mutual Investments shed 63 cents transferring 550,159 shares to finish at $7.17.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

SOS & Proven back in IC TOP 10

May 17, 2020 by

The Junior and Main Market, IC Insider.com TOP 10 closed the week with Medical Disposables and Stationery and Office Supplies returning the TOP 10, after a week’s absence as they replaced CAC2000 and Elite Diagnostic.
In the Main Market, Seprod rose to $49.99 from $44.10 on limited volume, following robust first-quarter results, to be replaced by Proven Investments.
During the past week, investors pushed the Main and Junior Markets slightly higher than at the close of the previous week, but the message from the markets is that they are both in a consolidation mode as investors absorb results released during the past week.
If history is anything to go by, the market could remain in a period of consolidated until early July when it usually starts a slow recovery.
The past week saw the release of quarterly results with positive gains, the companies reporting sharp increases include Grace Kennedy, tTech, Caribbean Flavours, 138 Student Living, Eppley, Kingston Wharves and Sterling Investments.
The three top Junior Market stocks with the potential to gain between 355 to 663 percent by 2021 are Caribbean Producers, followed by KLE Group and Caribbean Cream. In the Main Market, Radio Jamaica continues to lead, followed by Berger Paints and JMMB Group with projected gains of 165 to 213 percent.
This week’s focus: Caribbean Cream released full-year results, after trading closed on Friday, with profits falling 38 percent, from $89 million to $55 million, from a 10 percent rise in revenues to $1.7 billion. Depreciation more than doubled in the year, with an increase of $63 million, to end at $115 million, negatively affecting the results for the year to February. In the final quarter, sales grew 16 percent over the similar period in 2019 and might be indicating that revenues are poised to rise above recent growth levels. If this is, in fact, the case then the company is poised for strong growth in profits going forward.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results for the financial year ending after this year’s second quarter and up to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 13.6 and the Junior Market a mere 8.9, based on current 2020-21 earnings. The PE ratio for Junior Market Top 10 stocks averages a mere 5 with the Main Market at a much higher level of 8.4.
The TOP 10 stocks now trade at a discount of 44 percent of the average for Junior Market and Main Market stocks trade at a discount of 38 percent to the overall market. The average projected gain for the IC TOP 10 stocks is 332 percent, for the Junior Market and 144 percent for the JSE Main Market, based on 2020-21 earnings.
IC TOP 10 stocks are likely to deliver the best returns to March 2021. Forecasted earnings and PE ratio for the current fiscal year are in determining potential gains. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. 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.

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main Market closes down

May 15, 2020 by

JSE Main Market closes down on at the close on Friday as declining stocks beat out advancing ones almost two to one, leaving the JSE All Jamaican Composite Index down 2,215.55 points to close at 411,473.46.
The JSE Market Index lost 2,003.95 points to end at 375,066.49, the JSE Financial Index inched 1.04 points lower to 100.42 and the PE ratio of the market ended at 14.1, while the Main Market ended at 14.4 times 2020-21 earnings.
The market closed with 47 securities changing hands in the Main and US dollar markets with prices of 11 stocks advancing, 20 declining and 16 securities trading firm. The JSE Main Market activity ended with 41 securities accounting for 24,395,591 units valued at $156,997,429, in contrast to 12,358,723 units valued at $97,621,587 from 43 securities on Thursday.
Trans Jamaican Highway led trading with 13.1 million shares for 53.7 percent of total volume followed by Sagicor Select Financial Fund with 3.5 million units for 14.4 percent of the day’s trade and Wigton Windfarm with 3.2 million units for 13.3 percent market share.
The market closed with an average of 595,014 units priced at $3,829,206 for each security traded, in contrast to 287,412 units valued at an average of $2,270,269 on Thursday. The average volume and value for the month to date amount to 344,979 units valued at $2,844,401 for each security changing hands, compared to 322,299 units with an average of $2,746,160. Trading in April resulted in an average of 1,077,021 units valued at $3,829,201 for each security.
IC bid-offer Indicator│ At the end of trading, the Investor’s Choice bid-offer indicator reading shows twelve stocks ending with bids higher than their last selling prices and two stocks closing with lower offers.
In the Main Market, Berger Paints gained 50 cents to close at $14 trading 125 units, Eppley added 75 cents to end at $14.25, in transferring 5,926 units, First Rock Capital closed at $10.50, with a loss of 80 cents after ownership 22,700 stock units changed. Jamaica Broilers dropped $1 to $24, after trading 71,423 shares, Jamaica Stock Exchange finished 50 cents lower at $19, with 12,053 units changing hands, Key Insurance lost 80 cents transferring 148,234 shares to finish at $7.60. Mayberry Jamaican Equities closed 46 cents lower at $8.99, with an exchange of 16,066 units, MPC Caribbean Clean Energy declined by $1 to $175 after trading 1,000 units, NCB Financial closed at $150, with gains of $1 in swapping 82,819 shares. 138 Student Living added 80 cents to reach $8.80, after exchanging 43,495 stock units, PanJam Investment declined by $4 to settle at $76, in transferring 126,313 shares, Sagicor Real Estate Fund gained 45 cents trading 1,905 units at $7.95. Salada Foods dropped $3.50 to $25, in exchanging 8,263 units, Scotia Group shed $5.38 to close at $42.02, with 85,576 shares crossing the exchange, Seprod closed 49 cents higher at $49.99 after transferring 4,857 units and Sygnus Credit Investments shed 79 cents to end at $18.60, with 27,602 stock units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,