Rising and falling JSE Main Market stocks were almost equal in number on the first trading day on the new-year when market activity closed on Thursday.
The market’s move resulted in a big bounce in the market index, bringing the gains in the last four days to 9,573.73 points. Trading closed with 38 securities changing hands in the Main and US dollar market, with 13 advancing, 12 declining and the prices of 13 stocks remaining unchanged. The JSE Main Market activity ended, with 34 securities accounting for 39,225,030 units valued $114,615,971 in contrast to 29,187,937 units valued at $201,537,949, from 43 securities on Tuesday.
At the close, JSE All Jamaican Composite Index jumped 3,368.77 points to close at 563,222.03. The JSE Market Index climbed 2,949.65 points to 512,866.09 and the JSE Financial Index gained 0.78 points to close at 138.33.
Wigton Windfarm dominated trading, with 25.9 million shares and 66 percent of the units traded, followed by Sagicor Select – Financial Fund with 5.5 million units for 14 percent of the day’s trade and Carreras rounding out the top three with 3.34 million shares for 8.5 percent of market share.
The market closed, with an average of 1,153,677 units valued at an average of $3,371,058 for each security traded, in contrast to 788,863 units valued at an average of $5,446,972 on Tuesday. The market closed out December, with an average of 595,143 units for $9,344,514 for each security traded.
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 two closing, with lower offers. The PE ratio of the market ended at 19.7, with the Main Market ending at 19.1 times the current year’s earnings.
In the prime market activity, Barita Investments dropped $1.48 to $73.51, with 38,799 shares changing hands, Caribbean Cement lost 50 cents to end at $84 in trading of 11,559 stock units. Eppley gained 90 cents to close at $15 while exchanging 1,153 stock units, Eppley Caribbean Property Fund dipped $2 to close at $40 with an exchange of 7,939 units. Jamaica Producers declined by $1.50 to end at $27, with 31,783 stock units changing hands. JMMB Group fell 55 cents to end at $46.95, with an exchange of 35,221 units. Mayberry Investments lost 55 cents to end at $9, in trading 10,795 stock units Mayberry Jamaican Equities shed 86 cents to end at $13.15, trading 51,577 shares, 
PanJam Investment gained $1 to end at $102, with 239,379 units crossing the exchange. Proven Investments gained $1.89 in exchanging 4,211 units to close at $49.89, Pulse Investments climbed $2.25 with 65,000 shares changing hands, to end at a 52 weeks’ high of $7.50, after trading at an all-time high of $6.20. Sagicor Real Estate Fund lost 25 cents in trading 3,150 shares at $10.25 and Scotia Group rose 50 cents to close at $56 with an exchange of 185,416 stock units.
Trading in the US dollar market closed with 83,015 units valued at $26,886. The market index advanced 0.92 points to close at 227.15. Proven Investments fell 2.9 cents in exchanging 64,466 units to close at 31.9 US cents, Sterling Investments rose 0.04 cent in trading 1,600 units to close at 2.9 US cents. Sygnus Credit Investments rose 0.01 cent in exchanging 4,500 stock units to close at a 52 weeks’ high of 15.1 US cents and in the preference segment, JMMB Group 6.0% preference share traded 2,190 units at US$1.01.
9 JSE Main Market stocks double in 2019
Last year was a mixed one for investors in the Jamaican stock market. On the one hand, Investors in Main Market stock enjoyed gains of more than 30 percent for the second year in a row, but Investors in Junior Market Stocks had far less to cheer about with a market rise of 3 percent.
Ten JSE Main Market stocks doubled in price in 2019 with the Jamaica Stock Exchange ordinary share leading the group with a gain of 177 percent with the Main market rising 34.3 percent for the year, upon the 31.7 percent rise in 2018.
VM Investments rose 120 percent to hold down the number two spot followed by Sygnus Credit Investments, Wisynco Group and Radio Jamaica. All three ended up on the worse 10 performing stocks in 2018 along with Proven Investments, the 10th best performer in 2019, with a 93 percent gain. Palace Amusement stock gained 100 percent, in 2019 and is the only 2018 TOP 10 stock to reappear in the top 10, in 2019. In 2018, it came in at number 3 best performing stock, compared to eight position in 2019. Palace has a remarkable record of more than doubling in each year, from 2016 to end in the TOP 10 for all of them
More big gains for JSE Main Market
Prices of several stocks bounced sharply on the JSE Main Market as the year came to an end with 43 securities changing hands in the Main and US dollar markets, with 24 advancing, 11 declining and the prices of 8 stocks remaining unchanged after four stocks ended at 52 weeks’ highs.
At the close, JSE All Jamaican Composite Index jumped 2,992.76 points to end at 559,853.26, for a rise of 34.3 percent for the year, the JSE Market Index climbed 2,888.49 points to 509,916.44, up 34.3 percent for the year and the JSE Financial Index gained 0.51 points to close at 137.55, a gain of 37.6 percent for the year.
The JSE Main Market activity ended, with 37 securities accounting for 29,187,937 units valued at $201,537,949 in contrast to 15,775,842 units amounting to $99,372,463, on Monday, from 40 securities.
Sagicor Select – Manufacturing and Distribution Fund dominated market activity, with 10.3 million units and 35 percent of the volume changing hands, Sagicor Select – Financial Fund followed, with 5.2 million stock units for 18 percent of the market volume and Wigton Windfarm with 4.8 million shares for 16 percent market share.
The market closed, with an average of 788,863 units valued at an average of $5,446,972 for each security traded, in contrast to 394,396 units valued at $2,484,312 on Monday. The average volume and value for the month to date amounts to 595,143 units for $9,344,514 and previously, an average of 585,624 units for $9,023,435 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 17 stocks ending, with bids higher than their last selling prices with none closing, with a lower offer. The PE ratio of the market ended at 19.7, with the Main Market ending at 19.2 times the current year’s earnings.
In the prime market, Barita Investments jumped $3.99 to $74.99, with 194,683 shares changing hands, Caribbean Cement climbed $3.50 to end at $84.50 in trading of 59,762 stock units, Eppley traded 500 shares but lost 90 cents to end at $14.10, Eppley Caribbean Property Fund jumped $2.40 to close at $42 with an exchange of 15,320 units. Grace Kennedy jumped $4 to close at a 52 weeks’ high of $73, after exchanging 424,336 shares, Jamaica Producers rose $4.15 to end at $28.50, with 32,218 stock units changing hands. JMMB Group added $1 to finish at $47.50 with an exchange of 167,483 units. Mayberry Investments rose 55 cents to end at $9.55, in trading 141,785 stock units Mayberry Jamaican Equities climbed $1.96 to close at a 52 weeks’ high of $14.01, trading 34,484 shares, NCB Financial declined $1.50 to close at $200 in the transferring of 39,197 stock units. PanJam Investment gained $1 to end at $101, with 2,551 units crossing the exchange, Pulse Investments climbed 28 cents with 2,009,538 shares changing hands, to end at a 52 weeks’ high of $5.25, after trading at an all-time high of $6.20. Salada Foods jumped $4.05 to close at $35 with 10,295,911 changing hands. 
Scotia Group rose 49 cents to close at $55.50 with an exchange of 90,476 stock units, Seprod recovered $1.50 previously lost to end at $51.50 with a transfer of 12,116 shares and Supreme Ventures lost 50 cents to end at $25, after exchanging 2,916,863 shares.
Trading in the US dollar market closed with 88,733 units amounting to $28,589. The market index advanced 2.82 points to close at 226.23 and is up 41.7 percent in 2019. Margaritaville gained half a cent trading 1,200 shares to close at 52 weeks’ high of 36 US cents, Productive Business Solutions traded 10,000 shares to end at 65 US cents, an increase of one cent. Proven Investments gained 2.8 cents in exchanging 57,203 units to close at 34.8 US cents, Sterling Investments traded 9,338 units to close at 2.5 US cents, Sygnus Credit Investments transferred 9,332 stock to close at 15 US cents and in the preference segment, JMMB Group 6.0% preference share traded 10,000 units at US$1.01.
Big gains for JSE Main Market
The Main Market of the Jamaica Stock Exchange recovered sharply on Monday’s from a sharp fall on Friday, with lower volume, valued 70 percent less than on Friday.
At the close, JSE All Jamaican Composite Index surged 3,212.19 points to end the day at 556,860.50, the JSE Market Index climbed 3,095.40 points to close at 507,027.95 and the JSE Financial Index gained 0.68 points to close at 137.04.
The market closed, with 44 securities changing hands in the Main and US dollar markets, with 17 advancing, 16 declining and the prices of 11 stocks closed unchanged. JSE Main Market activity ended, with 40 securities accounting for 15,775,842 units amounting to $99,372,463 in contrast to 81,729,915 for $324,228,411, from 39 securities trading on Friday.
Wigton Windfarm dominated trading, with 7.8 million shares and 49.4 percent of the day’s volume. Pulse Investments followed with 2.4 million units for 15 percent of the day’s trade, after trading 60 million shares on Friday and Sagicor Select Funds – Financial completing the top three with 2.2 million shares for 14 percent of market share.
The market closed, with an average of 394,396 units valued at $2,484,312 for each security traded, in contrast to 2,095,639 units valued at $8,313,549 on Tuesday. 
The average volume and value for the month to date amounts to 585,624 units for $9,023,435 and previously, an average of 596,352 units for $9,410,939 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ending, with bids higher than their last selling prices and three closed, with lower offers. The PE ratio of the market ended at 19.3, with the Main Market ending at 18.9 times the current year’s earnings.
In the prime market, Caribbean Cement climbed $2.50 to end at $81 in trading of 85,932 stock units; Eppley traded 500 shares but lost 90 cents to end at $14.10, Eppley Caribbean Property Fund jumped $7.60 to close at $39.60 with an exchange of 25,455 stock units. Grace Kennedy fell 99 cents to close at $69, after exchanging 31,888 shares, Jamaica Producers rose 46 cents to end at $24.96, with 14,597 shares changing hands. JMMB Group fell 44 cents to end at $46.50 with an exchange of 127,208 shares, Kingston Properties rose 70 cents to $6.90 with 200 stock units trading. Mayberry Investments lost 34 cents to end at $9, in trading 3,338 shares Mayberry Jamaican Equities lost $1.05 to end at $12.05, trading 49,733 shares, NCB Financial declined 50 cents to close at $201.50 in the transferring of 10,806 stock units, PanJam Investment gained 50 cents to $100, with 40,041 shares crossing the exchange. 
Pulse Investments climbed 87 cents to end the day at $4.97, with 2,364,988 shares changing hands, Scotia Group dropped 49 to close at $55.01 with an exchange of 6,888 shares, Seprod lost $1.50 to end at $50 with a transfer of 125,952 shares, Supreme Ventures gained 50 cents to end at $25.50, after exchanging 51,287 shares and Sygnus Credit Investments rose by 86 to end at $26 with 52,067 stock units trading.
Trading in the US dollar market closed with 224,246 units for US$61,055, with the market index declining 1.87 points to close at 223.41. Proven Investments close trading of 15,214 shares to end at 32 US cents after rising 1 cent, Sygnus Credit Investments exchanged 71,520 stock units gaining 1 cent to close at 15 US cents. Sterling Investments traded 17, 812 units and rose half of a cent at 2.5 US cents and JMMB Group 6% preference share traded 10,000 units at US$1.01.
Two new IC TOP 10 listings
With the final days of 2019 draws to a close, investors looking back must ponder how the JSE Main Market stocks outperformed the Junior Stocks by a considerable margin, by growth in the market indices and the number of shares with triple-digit gains.
At the end of the week, JSE Main Market stocks gained 33 percent to just 4 percent for the Juniors as six Main Market stocks more than doubled compared to only three Junior stocks.
The Junior Market had Lasco Distributors and Paramount Trading entering the TOP 10 last week.
Still, they were replaced this week, by Honey Bun and tTech, in at number 9 and 10 positions, respectively. There were no changes to the TOP 10 listing for Main Market stocks.
The targeted PE ratio is now 25, with several stocks trading at that level or around 22 currently. The average projected gains for the IC TOP 10 stocks are 172 percent for Junior Market and 152 percent for JSE Main market Top 10 stocks.
The top three Junior Market stocks currently are Medical Disposables with projected gains of 257 percent, followed by Main Event with a potential increase of 227 percent and Jamaican Teas with 223 percent likely capital growth.
Radio Jamaica is still the leading Main Market stock, with an expected increase of 213 percent, even with the price moving up from $1.85 to $2. Pulse Investments is in at the number two spot with a projected increase of 201 percent and Sygnus US dollar-denominated stock, with likely gains of 186 percent, is next.
The JSE Main Market closed the week, with an overall PE of 20.5 and the Junior Market at 14.5, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 9.4 with the Main Market PE at 10.2.
The TOP 10 stocks now trade at a discount of 35 percent of the average for Junior Market stocks and main market stocks trade at a discount of 50 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. 
Forecasted earnings and PE ratio for the current fiscal year are in determining potential gains. Possible gains for each stock are ranked in descending order, 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. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
Persons who compiled this report may have an interest in securities commented on.
Sharp fall for JSE Main Market
With trading resuming on the Main Market of the Jamaica Stock Exchange on Friday after the two days break for the Christmas holidays, investors pushed the market down on higher volume but lower value than on Tuesday.
At the close of trading, the JSE All Jamaican Composite Index dropped 2,216.87 points to 553,648.38, the JSE Market Index sank 2,016.26 points to close at 503,932.55 and the JSE Financial Index declined by 0.22 points to 136.36.
The market closed, with 42 securities changing hands in the Main and US dollar markets, with 17 advancing, 10 declining and the prices of 15 stocks closed unchanged. JSE Main Market activity ended, with 39 securities accounting for 81,729,915 units amounting to $324,228,411 in contrast to 35,380,225 valued at $722,803,611 from 39 securities changing hands on Tuesday.
Pulse Investments dominated trading, with 60 million shares and 73 percent of volume traded followed by Wigton Windfarm with 14.2 million units for 17 percent of the day’s trade, and Sagicor Select Funds – Financial with 2.7 million shares for 3 percent market share.
The market closed, with an average of 2,095,639 units valued at $8,313,549 for each security traded, in contrast to 907,185 units valued at $18,533,426 on Tuesday. The average volume and value for the month to date amounts to 596,352 units for $9,410,939 and previously, an average of 509,598 units for $9,478,232 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending, with bids higher than their last selling prices and one closed, with a lower offer. The PE ratio of the market ended at 19.3, with the Main Market ending at 18.9 times the current year’s earnings.
In the premier market, Caribbean Cement lost 48 cents to end at $78.50 in transferring of 222,406 stock units; Grace Kennedy gained 49 cents to close at $69.99, after exchanging 185,514 shares, Jamaica Producers rose 46 cents to end at $24.96, with 4,616 shares changing hands. Kingston Wharves fell 60 cents to $61 with 605 stock units trading. NCB Financial climbed $1 to close at $202 in the transferring of 30,245 stock units, 
PanJam Investment fell 60 cents to $99.50, with 64,308 shares crossing the exchange. Pulse Investments dropped 86 cents to end the day at $4.10, with a whopping 60,013,935 shares changing hands. Sagicor Group dropped $3 to close at $66 with an exchange of 13,050 shares, Supreme Ventures lost 50 cents to end at $25, after exchanging 65,195 shares and Sygnus Credit Investments lost $1.86 to end at $25.14 with 34,783 stock units trading.
Trading in the US dollar market closed with 314,514 amounting to $94,537, with the market index declining 1.97 points to close at 221.54. Margaritaville rose 1 cent in trading 250,000 shares to end at 52 weeks’ high of 31.02 US cents, Proven Investments slipped 1 cent in trading 44,316 shares to close at 31.01 US cents and Sygnus Credit Investments exchanged 20,198 stock units and held firm at 14 US cents.
Big jump in JSE Main Market trading
Trading on the Main Market of the Jamaica Stock Exchange resulted in moderate gains in the two primary market indices on Tuesday as advancing stocks subdued decliners with a surge of cash passing through the market.
The market closed, with 42 securities changing hands in the Main and US dollar markets, with 17 advancing, 10 declining and the prices of 15 stocks closed unchanged. JSE Main Market activity ended, with 39 securities accounting for 35,380,225 units valued at $722,803,611, in contrast to 15,783,620 units for a consideration of $75,868,402 on Monday, from 39 securities changing hands.
At the close of trading, the JSE All Jamaican Composite Index rose 992.44 points to 555,865.17, the JSE Market Index climbed 908.94 points to close at 505,948.81 and the JSE Financial Index fell 0.21 points to 136.57.
Wigton Windfarm dominated trading, with 9 million shares and 25.5 percent of volumes traded followed by Scotia Group with 5.4 million units for 15 percent of the day’s trade and Sagicor Select Manufacturing and Distribution fund rounding out the top three with 4.6 million shares for 13 percent market share.
The market closed, with an average of 907,185 units valued at an average of $18,533,426 for each security traded, in contrast to 404,708 units valued at an average of $1,945,344 on Tuesday. The average volume and value for the month to date amounts to 509,598 units for $9,478,232 and previously, an average of 485,179 units for $8,886,686 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending, with bids higher than their last selling prices and two closed, with lower offers. The PE ratio of the market ended at 19.4, with the Main Market ending at 19 times the current year’s earnings.
In the premier market, Barita Investments lost 62 cents to settle at $71.02, with 6,925 shares changing hands, Caribbean Cement jumped $1.48 to $78.98 in transferring of 5,901 stock units, Grace Kennedy gained $1.30 to end at $69.50, after exchanging 1,455,867 shares, Kingston Wharves gained 59 cents to end at $61.60 with 1,495 stock units trading. Mayberry Jamaican Equities gained 39 cents to end at $13.14, with 1,020,626 stock units trading, MPC Caribbean jumped $15 to close at $210 to end at $210 with an exchange of 100 stock units, PanJam Investment fell 90 cents to end at $100.10, with 64,578 shares crossing the exchange.
Proven Investments dropped $4 to land at $50 while trading 4,696 stock units, Sagicor Group lost 99 cents to $69 with 193,572 shares changing hands. Seprod jumped $3 in exchanging 2,931,938 shares to close at $51.50, Sterling Investments added 39 cents to close at $3.34 with an exchange of 10,000 stock units, Supreme Ventures added 560cents to end at $2550., while trading 58,057 shares and Wisynco Group lost 95 cents to $23.50, with 133,370 shares changing hands.
Trading in the US dollar market closed with 288,675 units amounting to $43,882, with the market index adding 2.71 points to close at 223.51. Productive Business Solutions traded 500 shares to close 1 cent higher at 64 US cents, Proven Investments had 18,304 shares changing hands to end at 32 US cents and Sygnus Credit Investments traded 261,871 stock units to close at 14 US cents.
Moderate gains for JSE Main Market
Trading on the Main Market of the Jamaica Stock Exchange resulted in moderate gains for the two primary market indices on Monday as rising stocks edged out decliners after trading declined again following a sharp drop on Friday.
At the close of trading, the JSE All Jamaican Composite Index gained 930.77 points to 554,872.73, the JSE Market Index added 798.17 points to close at 505,039.87 and the JSE Financial Index dropped 1.19 points to 136.78.
The market closed, with 43 securities changing hands in the Main and US dollar markets, with 18 advancing, 16 declining and the prices of 9 stocks closed unchanged. JSE Main Market activity ended, with 39 securities accounting for 15,783,620 units for a consideration of $75,868,401.70, in contrast to 37,939,404 units with a consideration of $92,284,016, on Friday, from 41 securities changing hands.
Sagicor Select – Financial fund was the market leader with 3.7 million shares and 3 percent of the volume traded, closely followed by Sagicor Select – Manufacturing and Distribution fund with 3.5million shares and 22 percent of the day’s trade. JMMB Group rounded out the top three with 3.1 million units and 19 percent of the market share.
The market closed, with an average of 404,708 units valued at an average of $1,945,344 for each security traded, in contrast to 925,351 units at $2,250,830 on Monday. The average volume and value for the month to date amounts to 485,179 units for $8,886,686 and previously, an average of 490,445 units for $9,371,834 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ending, with bids higher than their last selling prices and two closed, with lower offers. The PE ratio of the market ended at 19.2, with the Main Market ending at 18.8 times the current year’s earnings.
In the JSE Main Market, Caribbean Cement jumped $2.50 to end at $77.50 with a transfer of 2,410 stock units, Eppley Caribbean Property Fund traded 1,070 units and rose 95 cents to close at $32, Grace Kennedy lost 80 cents to end at $68.20, after exchanging 2,050 shares. Jamaica Producers gained $1 to end at $24.50 with 55,9161 stock units trading, JMMB Group fell 65 cents to settle at $47.15, with 85,373 shares changing hands, units. Mayberry Jamaican Equities gained 75 cents to end at $12.75, with 15,000 stock units trading, MPC Caribbean dived $36 to end at $195 with an exchange of 627 stock units, NCB Financial Group declined by $2 to close at $201, in swapping 74,987 shares. 
PanJam Investment fell 99 cents to end at $101, with 17,366 shares crossing the exchange, Proven Investments dropped $4 to land at $50 while trading 4,696 stock units, Sagicor Group jumped $3.99 to $69.99 with 25,664 shares changing hands. Sagicor Real Estate Fund gained $1.20 to $10 with 36,350 shares, Scotia Group gained $1.50 to end at $55.50, in transferring 339,093 shares, Seprod lost $1.50 in trading 53,370 units to close at $48.50 and Supreme Ventures shed 56 cents to end at $25 while trading 24,197 stock units.
Trading in the US dollar market closed with 459,916 units amounting to $158,311, with the market index losing 1.33 points to close at 220.80. Productive Business Solution traded 60 shares to end at 63 US cents, a decline of 2 cents, Proven Investments lost 2 cents after exchanging 363,839 shares to close at 32 US cents, Sygnus Credit Investments exchanged 81,017 stock units, to close at 14 US cents and JMMB Group 5.5% preference share traded 15,000 units at US$2.02.
Sygnus US$ stock hits IC TOP 10
The JSE Main Market TOP 10 had just stock leaving with Sygnus Credit Investments Jamaican dollar listing replaced by the US dollar listed stock, with the price of the latter at 14 US cents or just under J$19 equivalent.
The Sygnus Jamaican quoted stock climbed to a record high of $30 on Friday, but ended at a record closing high of $27 at the end of trading and moved down to 12th spot in the overall market ranking.
The recently listed Lumber Depot closed trading at $1.91 on Friday and moved out of the TOP Junior Market listing. Also, leaving the TOP 10 was Honey Bun, with the price rising to $8.39 with a limited supply of the stock.
Coming into the Junior Market listing, are Lasco Distributors and Paramount Trading as investors beat down their prices.
The targeted PE ratio is now 25, with several stocks trading at that level or around 22 currently. The average projected gains for the IC TOP 10 stocks are 179 percent for Junior Market and 154 percent for JSE Main market Top 10 shares.
The top three Junior Market stocks currently are the Main Event with projected gains of 243 percent, followed by Medical Disposables with a potential increase of 238 percent and Jamaican Teas with 220 percent likely capital growth.
Radio Jamaica still holds on to the lead for Main Market stocks, with an expected increase of 236 percent, followed by Pulse Investments in the number two spot with projected growth of 205 percent and Sygnus US dollar-denominated stock with likely gains of 186 percent, is next.
The JSE Main Market closed the week, with an overall PE of 20.6 and the Junior Market at 14.3, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 9.1 with the Main Market PE at 10.1.
The TOP 10 stocks now trade at a discount of 36 percent of the average for Junior Market stocks and the Main Market stocks trade at a discount of 51 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year, are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Forecasted values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in securities included in the commentary.
JSE Main Market pulls back – Friday
Proven Investments closed at a 52 weeks’ high of J$54.
Trading on the Main Market of the Jamaica Stock Exchange resulted in declines in the two primary market indices on Friday as rising stocks edged out decliners after volume of shares traded rose sharply at just over half of the value that exchanged on Thursday.
At the close of trading, the JSE All Jamaican Composite Index dropped 3,190.45 points to end at 553,941.96, the JSE Market Index lost 2,824.34 points to close at 504,241.70 and the JSE Financial Index declined by 0.43 points to finish at 136.97.
The market closed, with 43 securities changing hands in the Main and US dollar markets, with 18 advancing, 16 declining and the prices of 9 stocks closed unchanged. JSE Main Market activity ended, with 39 securities accounting for 37,939,404 units with a consideration of $92,284,016, in contrast to 22,307,168 units amounting to $166,924,750, on Thursday, from 38 securities changing hands.
Wigton Windfarm returned to dominate trading, with 17.8 million shares and 50 percent of volumes traded followed by Sagicor Select – Manufacturing and Distribution fund with 10 million units for 26.4 percent of the day’s trade and Sagicor Select – Financial Fund with 6.2 million shares for 16.4 percent market share.
The market closed, with an average of 925,351 units at $2,250,830 for each security traded, in contrast to 587,031 units at $4,392,757 on Thursday. The average volume and value for the month to date amounts to 490,445 units for $9,371,834 and previously, an average of 458,316 units for $9,936,556 for each security changing hands. The market closed out November, with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending, with bids higher than their last selling prices and one closed, with a lower offer. The PE ratio of the market ended at 19.1, with the Main Market ending at 18.7 times the current year’s earnings.
In the premier market, Caribbean Cement declined by $2.50 to end at $75 with a transfer of 30,265 stock units, Carreras lost 22 cents to end at $8.17, in trading 78,931 stock units. Grace Kennedy climbed $4.50 to end at $69, trading 12,262 shares, JMMB Group gained 77 cents to settle at $47.80 with 189,281 shares changing hands, Kingston Wharves dropped $1.50 to settle at $61, in trading 1,518 units. Mayberry Jamaican Equities fell by $2 to end at $12, with 36,200 stock units trading, MPC Caribbean jumped $29 to end at $231 with an exchange of 175 stock units, NCB Financial Group advanced by 60 cents to close at $203, in swapping 86,379 shares. PanJam Investment rose 99 cents to end at $101.99, with 35,128 shares crossing the exchange, Proven Investments jumped $5 to land at a record high of $54 while trading 3,466 stock units, Pulse Investments had 29,041 changing hands and lost 40 cents to close at $4.10. 
Sagicor Group dropped $2 to $66 with 17,851 shares changing hands, Salada Foods traded just 18 shares after rising 95 cents to end at $30.95, Scotia Group lost 70 cents to end at $54, in transferring 29,645 shares. Seprod recovered the $2 lost on Thursday in trading 12,567 stock units to close at $50, Sygnus Credit Investments put on $1.87 to close at $27, with 72,065 units crossing the market and Wisynco Group rose 20 cents to $24.30, with 54,141 shares changing hands.
Trading in the US dollar market closed, with 364,656 units amounting to $111,725 units, with the market index falling 7.54 points to close at 222.13. Proven Investments traded 336,610 shares to close at 34 US cents and Sygnus Credit Investments exchanged 28,046 stock units to close at 14 US cents.