Market activity ended on the Jamaica Stock Exchange Main Market on Tuesday, with the volume of stocks traded rising 15 percent with an 11 percent lower value than on Monday as rising stocks exceeded those declining with 55 securities similar to Monday, ended with 23 and rising, 21 declining and 11 ending unchanged.
The All Jamaican Composite Index rallied 1,325.22 points to 435,745.89, the JSE Main Index rose 1,253.18 to 380,911.94 and the JSE Financial Index popped 0.45 points to settle at 90.54.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PEs are computed using ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 10,333,462 shares were exchanged for $71,873,511 compared to 8,975,299 units at $80,967,249 on Monday. Trading averages 187,881 units at $1,306,791, compared to 163,187 shares at $1,472,132 on Monday and month to date, an average of 183,621 units at $1,830,126, versus 183,006 units at $1,905,673 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
QWI Investments led trading with 3.46 million shares for 33.5 percent of total volume followed by Wigton Windfarm with 1.26 million units for 12.2 percent of the day’s trade and Transjamaican Highway, 836,971 units for 8.1 percent of market share.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Berger Paints rose 88 cents to end at $12.39 in switching ownership of 9 shares, Caribbean Cement shed 50 cents to finish at $63.50 in exchanging 2,526 stocks, Eppley Caribbean Property Fund advanced $1 to $40.50, with 1,111 units crossing the market. GraceKennedy fell $2.48 to $100 after finishing trading 4,960 stock units, Guardian Holdings gained $3 in closing at $505, with 1,018 units crossing the exchange, Jamaica Broilers rallied $1.88 to $28.90 with 601,198 stocks clearing the market. Jamaica Stock Exchange popped 45 cents to end at $18.45 after 19,861 shares crossed the market, Kingston Properties lost 45 cents to close at $7 in trading 71,060 stock units, Mayberry Jamaican Equities declined $1.66 in closing at $12 with 40,646 units changing hands. NCB Financial increased $1.98 to $98.98 with an exchange of 123,916 stock units, Palace Amusement climbed $40 in closing at $900 with the swapping of 3 stocks, Portland JSX dropped 50 cents to close at $10.50, with 1,376 shares changing hands. 
Proven Investments fell $1.50 to $34 in an exchange of 3,919 stock units, Pulse Investments lost 47 cents in ending at $3.70 while exchanging 509,000 shares, Salada Foods gained 39 cents to end at $5.78 trading 5,235 units. Scotia Group rallied 50 cents in closing at $37 after exchanging 26,741 stocks and Seprod declined 50 cents to end at $71 after trading 133,083 stocks.
In the preference segment, Jamaica Public Service 9.5% dropped $1 to $2999 after exchanging 101 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drifts lower for JSE Main Market
Market activity ended on the Jamaica Stock Exchange Main Market on Monday, with the volume of stocks traded declining slightly, after 16 percent less shares changed hands than on Friday, following 55 active securities compared to 51 on Friday, with 15 rising, 29 declining and 11 ending unchanged.
Overall, 8,975,299 shares were traded for $80,967,249 down from 9,624,890 units at $96,004,491 on Friday. Trading averages 163,187 units at $1,472,132, compared to 188,723 shares at $1,882,441 on Friday and month to date, an average of 183,006 units at $1,905,673, versus 186,350 units at $1,978,817 on the preceding trading day. June closed with an average of 281,913 units at $5,309,050.
Pulse Investments led trading with 2.08 million shares for 23.2 percent of total volume, followed by Wigton Windfarm with 1.93 million units for 21.5 percent of the day’s trade and Sterling Investments with 977,830 units for 10.9 percent market share.
The All Jamaican Composite Index dropped 1,589.45 points to settle at 434,420.67, the JSE Main Index last 1,076.84 points to 379,658.76 and the JSE Financial Index shed 0.30 points to settle at 90.09.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows 15 stocks ended with bids higher than their last selling prices and three stocks with lower offers.
At the close, Barita Investments shed $1.74 in closing at $88.16, with 223,812 shares changing hands, Berger Paints gained 51 cents to $11.51, crossing the market 15,598 units, Caribbean Cement popped $1 after ending at $64, with 44,874 stock units crossing the exchange. Eppley dropped $3.83 to close at $38.67 while exchanging 1,082 stocks, First Rock Capital lost 65 cents to end at $11.85 in exchanging 14,054 units, GraceKennedy jumped $3.88 in closing at $102.48 in an exchange of 60,999 shares. Jamaica Producers declined 47 cents to end at $20.55 after closing with 17,201 stocks changing hands, Mayberry Jamaican Equities increased 66 cents to $13.66 in finishing trading 2,862 stock units, NCB Financial fell 50 cents to $97 with an exchange of 61,488 shares. 138 Student Living rose 39 cents to close at $5.16 in trading 4,272 units, Portland JSX dropped 95 cents to $11, with 75 stock units clearing the market, Proven Investments declined 50 cents to close at $35.50 after trading 99 stocks. Scotia Group fell 90 cents to end at $36.50 in switching ownership of 2,115 stocks, Seprod lost 45 cents after finishing at $71.50 in exchanging 1,859 units, Supreme Ventures shed 48 cents to $30.50, with 98,014 stock units crossing the market. 
Sygnus Credit Investments dropped 75 cents to end at $14.05 after exchanging 34,740 shares and Victoria Mutual Investments lost 81 cents in closing at $5.12 with the swapping of 68,219 stock units.
In the preference segment, Eppley 7.50% preference share rallied 36 cents after ending at $7.91 after trading 146 units and Productive Business Solutions 9.75% preference share fell $1.26 to $107 and closed with ten shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big gains for ICTOP10 stocks
The markets bobbed and weaved this past week as investors mostly remained on the sidelines until late this month, ahead of the imminent release of second quarter results. Notwithstanding, there were a few strong moves in both markets.
In the Junior Market, Caribbean Cream climbed 16 percent to $4.66, followed by an 11 percent rise for Access Financial, while Lasco Distributors rose 7 percent to $3.43 and Elite Diagnostic gained 6 percent to close at $3.70. The Main Market saw Key Insurance jumping 23 percent to $4.17.
The Main Market, Radio Jamaica, dropped 15 percent to $2.47 and Berger Paints gave up 10 percent at $11. In the Junior Market, Medical Disposables, CAC 2000 and Lasco Financial fell 5 percent.
The week ended with one new listing in the TOP10 Main market as Key Insurance moved on with the strong gain mentioned above and Jamaica Broilers surged in following a jump in projected earnings after posting full year results.
Keep a careful watch on AMG Packaging, Dolphin Cove, Express Catering, General Accident Lasco Distributors, Lasco Manufacturing and Stationery and Office Supplies. Dolphin Cove, Caribbean Producers, Express Catering will be significant beneficiaries of the strong rebound in tourist arrivals and the supply of General Accident has declined sharply over the past few weeks.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.1, while the Junior Market Top 10 PE is 6.1 versus the market at 13.2. The Junior Market TOP10 is projected to gain an average of 235 percent to May 2023 and the Main Market 244 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotions from selecting stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Pull back for JSE Main Market
Market activity ended on Friday, with the volume of stocks traded declining after trading 7 percent less valued 42 percent less than on Thursday on the Jamaica Stock Exchange Main Market as declining stocks exceeded those rising with just 51 securities compared to 56 on Thursday, with 15 rising, 20 declining and 16 ending unchanged.
Overall, 9,624,890 shares were traded for $96,004,491 versus 10,333,128 units at $164,852,282 on Thursday. Trading averages 188,723 units at $1,882,441, versus 184,520 shares at $2,943,791 on Thursday and month to date, an average of 186,350 units at $1,978,817, compared to 185,910 units at $1,996,690 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
The All Jamaican Composite Index lost 638.68 points to settle at 436,010.12, the JSE Main Index fell 1,167.36 points to end at 380,735.60 and the JSE Financial Index rose 0.05 points to settle at 90.39.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.1 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Wigton Windfarm led trading with 2.54 million shares for 26.4 percent of total volume, followed by Transjamaican Highway with 1.61 million units for 16.8 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund with 1.15 million units for 12 percent market share.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and four stocks with lower offers.
At the close, Barita Investments advanced $1.93 to $89.90 in switching ownership of 212,065 shares, Berger Paints shed $1.40 to end at $11 in exchanging 164,617 stocks, Caribbean Cement climbed $1, ending at $63, trading 10,140 units. GraceKennedy dropped $3.59 to $98.60 after exchanging 57,747 stock units, Jamaica Broilers rose $1.10 to $27 in an exchange of 29,735 shares, Jamaica Producers declined 95 cents to close at $21.02, finishing at 15,069 units. Jamaica Stock Exchange fell 44 cents to end at $18.06 with the swapping of 11,560 stock units, Kingston Properties lost 55 cents ending at $7.65 with an exchange of 54,458 stocks, Kingston Wharves shed $1.31 to $37.68, closed at 11,984 stocks. Massy Holdings lost $2.36 in closing at $91.64, crossing the market 3,614 shares, Mayberry Investments rose 80 cents to close at $10 in exchanging 115,934 stock units, NCB Financial dropped 50 cents to end at $97.50, changing hands 337,156 units. 
Sagicor Group gained $1.20 in closing at $55.20, crossing the market 41,672 stock units, Scotia Group rallied $1.40, ending at $37.40, clearing the market with 12,611 shares, Seprod popped 70 cents to $71.95 trading 11,533 units and Sygnus Credit Investments climbed 80 cents to end at $14.80 crossing the exchange 359,348 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market rise with increased trades
Trading picked on the Jamaica Stock Exchange Main Market on Thursday, with the volume of stocks traded rising 10 percent with an 85 percent greater value than on Wednesday as declining stocks exceeded those rising.
Trading accounted for 56 securities on Thursday and Wednesday, with 18 rising, 23 declining and 15 ending unchanged.
A total of 10,333,128 shares were traded for $164,852,282, up from 9,365,107 units at $89,019,484 on Wednesday.
Trading averages 184,520 units at $2,943,791, versus 167,234 shares at $1,589,634 on Wednesday. Month to date, trading averaged 185,910 units at $1,996,690, compared to 186,265 units at $1,754,509 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
The All Jamaican Composite Index popped 1,484.03 points to settle at 436,648.80, the JSE Main Index rallied 331.94 points to 381,902.96 and the JSE Financial Index advanced 0.09 points to settle at 90.34.
Wigton Windfarm led trading with 2.17 million shares for 21 percent of total volume, followed by JMMB Group with 1.96 million units for 19 percent of the day’s trade. Sagicor Select Financial Fund ended with 1.42 million units for 13.7 percent market share and Transjamaican Highway with 1.38 million units for 13.3 percent of shares transferred.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.3 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Caribbean Cement lost $2 in closing at $62 while exchanging 21,813 shares, Eppley Caribbean Property Fund declined $1 in ending at $39.50 and trading 2,118 units, GraceKennedy shed 45 cents to close at $102.19 in an exchange of 30,898 stock units. Guardian Holdings dropped $19.79 to end at $502 after trading 1,135 stocks, Jamaica Broilers fell $2.10 to $25.90 and closed with 46,373 stock units changing hands, Jamaica Producers gained 87 cents to close at $21.97, with an exchange of 9,299 units. Jamaica Stock Exchange climbed 44 cents to $18.50 with 1,083 shares clearing the market, Kingston Wharves advanced $1.29 to $38.99 with the swapping of 28 stocks, Massy Holdings shed $1 in closing at $94 with an exchange of 111 shares. Mayberry Investments declined 79 cents to end at $9.20 in switching ownership of 303 stock units, NCB Financial fell $1 to $98, with 275,137 stocks crossing the market, PanJam Investment rallied $1 to end at $66witg 4,065 units changing hands. Portland JSX popped $1.35 to $11.85 after trading 90 units, Proven Investments increased $3 to close at $36, with 9,446 shares crossing the market, Sagicor Group dropped $1 in closing at $54 in exchanging 104,607 stock units. 
Stanley Motta rose 58 cents to close at $5.58 in exchanging 30,300 stocks, Sterling Investments climbed 40 cents in closing at $2.90 after trading 18,904 stock units, Sygnus Credit Investments fell 75 cents to $14 in transferring 89,703 stocks and Sygnus Real Estate Finance shed $2 to $13 while exchanging 1,922 shares.
In the preference segment, Eppley 7.25% preference share fell 99 cents to end at $21 with the swapping of 50 units and Eppley 7.50% preference share popped 69 cents to end at $7.59, with 50 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady trading for JSE Main Market
Market activity was steady on Wednesday, versus Tuesday with the volume and value of stocks trading differed, marginally from Tuesday’s levels on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining but that failed to prevent the market indices from slipping.
Overall, 9,365,107 shares were traded for $89,019,484 versus 9,657,015 units at $85,919,427 on Tuesday. Trading averages 167,234 units at $1,589,634, compared to 178,834 shares at $1,591,100 on Tuesday and month to date, an average of 186,265 units at $1,754,509, compared to 192,803 units at $1,811,153 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
Community & Workers Credit Union led trading with 2.44 million shares for 26.1 percent of total volume followed by Transjamaican Highway with 1.53 million units for 16.3 percent of the day’s trade and Sagicor Select Financial Fund with 1.35 million units for 14.5 percent market share.
The All Jamaican Composite Index dropped 2,438.78 points to 435,164.77, the JSE Main Index fell 488.85 points to 381,571.02 and the JSE Financial Index declined 0.48 points to 90.25.
Trading ended with 56 securities compared to 54 on Tuesday, with 24 rising, 18 declining and 14 ending unchanged.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.3 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years, ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and five stocks with lower offers.
At the close, Eppley Caribbean Property Fund rose $1 to $40.50, with 13 shares crossing the market, First Rock Capital gained 94 cents to end at $12.70 with an exchange of 3,903 stock units, Guardian Holdings rallied $20.79 to $521.79 after trading 733 stocks. JMMB Group lost 64 cents in closing at $43 in switching ownership of 55,562 units, Kingston Properties increased 50 cents to close at $8.20, with 23,543 units crossing the market, Kingston Wharves fell $1.30 to $37.70, with 1,558 stocks changing hands. Margaritaville climbed 65 cents to end at $17.15 and closed after 2,121 stock units passed through the exchange, Massy Holdings advanced $3 in closing at $95 with 18,357 shares clearing the market, Mayberry Investments popped 82 cents in ending at $9.99 after exchanging 190 stocks. Mayberry Jamaican Equities shed 91 cents to close at $12.99 in trading 312,293 shares, MPC Caribbean Clean Energy dropped $16.62 in ending $89.88 while exchanging 682 stock units, Proven Investments fell $3.50 to end at $33 in trading 195,898 units. Sagicor Group lost 49 cents in closing at $55 in an exchange of 96,640 stock units, Scotia Group dropped 94 cents to close at $36, with 6,402 units crossing the exchange, Stanley Motta shed 60 cents to $5 after the trading of 11,200 stocks. 
Sterling Investments fell 40 cents to a 52 weeks’ low of $2.50 in exchanging 77,690 shares, Supreme Ventures advanced $1.54 to end at $30.69 with the swapping of 68,794 units and Sygnus Credit Investments rallied 75 cents to close at $14.75 after 10,990 shares crossed the market.
In the preference segment, Eppley 7.50% preference share popped 90 cents in closing at $6.90 in exchanging 100 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading gains on JSE Main Market
Trading picked on Tuesday, with the volume of stocks traded rising after trading 12 percent more and 40 percent lower than on Monday on the Jamaica Stock Exchange Main Market as declining stocks edged out those rising with gaining ones outpowering to push the market indices higher.
The All Jamaican Composite Index popped 1,073.75 points to 437,603.55, the JSE Main Index rose 631.05 points to 382,059.87 and the JSE Financial Index added 0.02 points to settle at 90.73.
Trading ended with 54 securities changing hands compared to 56 on Monday, with 20 rising, 23 declining and 11 ending unchanged.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.5 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years, ending up to the close of August 2023.
Overall, 9,657,015 units were exchanged for $85,919,427 shares versus 8,595,018 units valued at $143,207,141 on Monday. Trading averages 178,834 units at $1,591,100, compared to 153,482 shares at $2,557,270 on Monday and month to date, an average of 192,803 units at $1,811,153, compared to 199,724 units at $1,920,170 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
Sagicor Select Financial Fund led trading with 3.14 million shares for 32.5 percent of total volume followed by Wigton Windfarm with 1.81 million units for 18.7 percent of the day’s trade and Transjamaican Highway with 1.17 million units for 12.1 percent market share.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Eppley dropped $2 to $42.50 after exchanging 1,475 shares, Eppley Caribbean Property Fund declined $3.75 after ending at $39.50 in an exchange of 2,000 stocks, First Rock Capital lost $1.54 to end at $11.76 with an exchange of 21,494 units. Guardian Holdings fell $1 to close at $501 with the swapping of 749 stock units, Jamaica Producers climbed 90 cents to $21 in trading 35 shares, Jamaica Stock Exchange rallied 50 cents in closing at $18, with 3,349 units changing hands. JMMB Group rose $1.33 to $43.64 after exchanging 38,817 stocks, Kingston Properties shed $1.04 to close at $7.70 in exchanging 5,213 stock units, Kingston Wharves fell 99 cents to $39 after 6,425 units changed hands. Mayberry Investments popped 97 cents to end at $9.17, with 121,522 shares crossing the market, Mayberry Jamaican Equities gained 91 cents in ending at $13.90, with 1,816 stock units crossing the market, NCB Financial declined $1 to $99 with an exchange of 215,288 stocks. 
Portland JSX dropped $1.35 to close at $10.50 in switching ownership of 58 units, Proven Investments lost 85 cents to end at $36.50 in trading 7,841 shares and Supreme Ventures increased 55 cents in closing at $29.15 while exchanging 26,168 stocks.
In the preference segment, 138 Student Living preference share advanced 96 cents in ending at $22.30, with 11 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for JSE main market
Main market activity ended on Monday, with declining stocks far exceeding those rising, resulting in the market falling sharply as the volume of stocks traded declined 35 percent, with 117 percent more value than on Friday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index dropped 6,345.40 points to 436,529.80, the JSE Main Index declined 4,898.50 points to 381,428.82 and the JSE Financial Index lost 0.80 points to settle at 90.71.
Trading ended with 56 securities changing hands compared to 53 on Friday, with 14 rising, 30 declining and 12 ending unchanged.
Overall, 8,595,018 shares traded for $143,207,141 versus 13,174,872 units at $66,091,370 on Friday. Trading averages 153,482 units at $2,557,270, compared to 248,582 shares at $1,247,007 on Friday and month to date, an average of 199,724 units at $1,920,170. June closed with an average of 281,913 units at $5,309,050.
Wigton Windfarm led trading with 2.12 million shares for 24.6 percent of total volume, followed by Transjamaican Highway with 1.56 million units for 18.2 percent of the day’s trade, Ciboney Group ended with 1.14 million units for 13.3 percent market share and NCB Financial with 1.10 million units for 12.8 percent share of all trades.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.5 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement declined 50 cents to $64, with 25,007 shares clearing the market, Eppley Caribbean Property Fund shed $4 to $43.25, with 68 stock units crossing the market, First Rock Capital climbed $1.55 to close at $13.30 in trading 1,131 units. GraceKennedy dipped 35 cents to end at $102.65 in switching ownership of 10,970 stocks, Guardian Holdings fell $17.99 in closing at $502 while exchanging 10 units, Jamaica Producers lost $2.35 in closing at $20.10 after finishing with an exchange of 27,149 stock units. Jamaica Stock Exchange declined $2.45 to close at $17.50, with 22,325 shares changing hands, JMMB Group fell $1.34 in ending at $42.31 with the swapping of 62,848 stocks, Key Insurance rose 52 cents to end at $3.90 after 4,130 units crossed the exchange. Massy Holdings dropped $1 to $92 with 8,502 stock units changing hands, Mayberry Investments shed $1.81 to $8.20 in exchanging 14,097 shares, Mayberry Jamaican Equities lost 86 cents in closing at $12.99 in an exchange of 92,575 stocks. NCB Financial shed $1.25 to end at $100 after trading 1,096,829 stocks, Palace Amusement fell $85 to $860 with an exchange of 39 shares, PanJam Investment dropped $1.48 to close at $64.50 as 10,769 stock units changed hands. Pulse Investments declined 40 cents in closing at $3.99 after exchanging 353,439 units, Salada Foods lost 30 cents to close at $5.50 after trading 8,476 shares, Scotia Group rallied 44 cents in ending at $36.94 with an exchange of 95 stock units. 
Supreme Ventures shed $2.85 to $28.60, with 106,907 units changing hands, Sygnus Credit Investments dropped 56 cents to end at $14.23 after trading 52,552 stocks, Sygnus Real Estate Finance popped $2.49 to $15 after trading just one stock and Victoria Mutual Investments fell 41 cents to close at $5.39 with an exchange of 248,114 stock units.
In the preference segment, Eppley 7.50% preference share fell $1.18 to $6 in trading 1,189 shares and 138 Student Living s preference share advanced $1.94 in closing at $21.34 after just one share was traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price rise in ICTOP10
The markets closed with contrasting styles on Friday, with Junior Market listed Caribbean Cream dropping 27 percent to $4.01 and the main market listed Radio Jamaica rising 21 percent to $2.90, with the stock triggering the circuit breaker as investors exchanged 2.9 million units of the company’s shares on Friday.
It is unclear why RJR, a stock that was previously under selling pressure, surprisingly, surged at the week’s close. Caribbean Cream came under pressure after the company reported a loss for the year to February. Investors will have to await the first quarter results in a few days to determine whether the new year will see a return to brighter days.
Five Junior Market ICTOP10 stocks fell and four rose, while in the TOP10 Main Market, six stocks gained and two fell with none exceeding 4 percent, but for RJR.
Elsewhere in the Junior Market, C2000 climbed 11 percent to $10.30. In comparison, Access Financial and Elite Diagnostic gained 5 percent each to close the week at $21.01 and $3.50, respectively. In contrast, Caribbean Assurance Brokers lost 6 percent as Jetcon Corporation and Lasco Financial all fell 5 percent.
The week ended with one new listing in the TOP10 as mild gains by General Accident and a fall in the price of Dolphin Cove resulted in them swapping places.
VM Investments moved out in the TOP10 Main Market and Key Insurance moved into the TOP 10.
It is pretty clear that many investors are investing in the dark with the hope that some overvalued stocks will continue to deliver above average gains into the future, but not many people know that yesterday’s winners may not have tomorrow’s significant gains. They ignore the long established feature of the market going back almost 40 years of the IC 80/20 rule and rule of 72. The IC 80/20 rule is that only two out of ten stocks on average in one year end up in the top 10 the following year. The essence of this is that it is not prudent to invest in the vast majority of last year’s top 10 stocks, especially those that did exceptionally well and are unlikely to repeat.
Rule of 72 is simple. Divide 72 by the rate of return easily shows how quickly money can double. How does this apply to stocks? Last year the Junior Market rose 30 percent and for 2022, so far, by 27 percent. These growth rates indicate that an investment in all 45 stocks in this market would double every two and a half years based on the 2021 increase and roughly one year and four months using the year to date growth. What all of this is saying, investors don’t need to be chasing popular stocks to make good money in the market, choose those that are undervalued, with profit set to grow sufficiently to give a boost to the stock price.
Keep a careful watch on AMG Packaging, Dolphin Cove, Express Catering, Lasco Distributors, Lasco Manufacturing and Stationery and Office Supplies. Dolphin Cove, Caribbean Producers and Express Catering will be significant beneficiaries of the strong rebound in tourist arrivals.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 15, while the Junior Market Top 10 PE is six versus the market at 12.9. The Junior Market TOP10 is projected to gain an average of 242 percent to May 2023 and the Main Market 229 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
More gains for Main Market
Stocks rose on the Jamaica Stock Exchange Main Market on Friday, with the volume of stocks trading declining 64 percent, with 97 percent lower value than on Thursday as rising stocks exceeded those declining, but the market closed with the IC bid-offer Indicator flashing short term negative signals.
The All Jamaican Composite Index gained 2,638.98 points to settle at 442,875.20, the JSE Main Index climbed 2,141.50 to 386,327.32 and the JSE Financial Index added 0.11 points to settle at 91.51.
Trading ended with 53 securities compared to 55 on Thursday, with 24 rising, 17 declining and 12 ending unchanged.
The PE Ratio, a formula to ascertain appropriate stock values, averages 15 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years, ending up to the close of August 2023.
Overall, 13,174,872 shares were exchanged for $66,091,370 versus 36,352,680 units at $2,054,073,702 on Thursday. Trading averages 248,582 units at $1,247,007, compared to 660,958 shares at $37,346,795 on Thursday. June closed with an average of 281,913 units at $5,309,050.
Ciboney Group led trading with 2.89 million shares for 22 percent of total volume, followed by Radio Jamaica with 2.70 million units for 20.5 percent of the day’s trade and Sagicor Select Financial Fund with 2.59 million units for 19.7 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and 11 stocks with lower offers.
At the close, Berger Paints added 70 cents in ending at $12.20, with 337 shares crossing the market, Caribbean Cement lost $2.50 to end at $64.50, with 20,215 stocks changing hands, Eppley fell 50 cents in closing at $44.50 after trading 175 stock units. First Rock Capital declined $1.55 to close at $11.75 while exchanging 5,681 units, Guardian Holdings rallied $16.99 to $519.99, with 1,654 shares crossing the exchange, Jamaica Producers advanced 45 cents to $22.45 trading 2,595 units. JMMB Group climbed $1.90 to close at $43.65 closed at 59,098 stock units, Key Insurance dropped 52 cents to end at $3.38 with the swapping of 2,005 stocks, Massy Holdings gained $1.30 after ending at $93 in exchanging 55,872 stocks. Mayberry Jamaican Equities popped 85 cents in closing at $13.85 with an exchange of 602 shares, Palace Amusement rose $45 to $945 with 23 stock units clearing the market, PanJam Investment climbed 98 cents in closing at $65.98 in an exchange of 138,936 units. Proven Investments rose $1.27 to close at $37.29 after exchanging 22,727 units, Radio Jamaica rallied 50 cents in ending at $2.90 after 2,700,500 stock units were exchanged, Scotia Group rose 45 cents to $36.50 in switching ownership of 1,039 shares. 
Seprod shed 70 cents in closing at $71.25, with 4,408 stocks crossing the exchange, Supreme Ventures increased 75 cents to close at $31.45 after exchanging 327,481 units and Sygnus Real Estate Finance recovered from the sharp fall on Thursday by gaining $1.26 to end at $12.51 in switching ownership of 501 shares.
In the preference segment, Eppley 7.25% preference share popped $1.94 to $21.99 after trading 2 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
