Trading plunged on the Jamaica Stock Exchange Main Market ended on Tuesday, with only 7,194,041 shares being traded for a mere $18,098,887 compared with 5,650,950 units at $35,185,337 on Monday, with the volume of stocks traded rising 27 percent and the value plunging 49 percent lower than on Monday, with trading in 56 securities compared with 54 on Monday and ended with prices of 24 rising, 19 declining and 13 ending unchanged.
Trading averaged 128,465 shares at $323,194 versus 104,647 shares at $651,580 on Monday and month to date, an average of 233,380 units at $1,448,630,compared with 240,476 units at $1,524,746 on the previous day. Trading in September closed with an average of 218,512 units at $1,768,691.
Wigton Windfarm led trading with 4.32 million shares for 60 percent of the total volume and was followed by Transjamaican Highway in trading 1.06 million units for 14.8 percent of the day’s trade and Sagicor Select Financial Fund with 367,451 units for 5.1 percent market share.
The All Jamaican Composite Index rose 262.79 points to 347,293.71, the JSE Main Index rose 2,426.08 points to settle at 314,062.31 and the JSE Financial Index rose 0.01 points to finish at 68.68.
The Main Market ended trading with an average PE Ratio of 12. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments skidded 70 cents to $71.50 in an exchange of 36,509 shares, Eppley shed $1.68 in closing at $32.32, with 1,211 stock units changing hands, Eppley Caribbean Property Fund popped $3.30 and ended at $39.50 after an exchange of 2,789 stocks. GraceKennedy lost 70 cents in ending at $72.50 after an exchange of 14,225 units, Jamaica Broilers advanced 44 cents to close at $33 with investors trading 24,339 shares, Jamaica Producers dropped $1.48 to close at $19 with traders dealing in 1,752 stock units. 
Kingston Properties increased 59 cents to end at $7.49 after 39 units passed through the market, Kingston Wharves fell 58 cents in closing at $27.36 while exchanging 5,367 stocks, Massy Holdings gained $1 and ended at $91 in switching ownership of 1,000 stocks. Pan Jamaica rose $2.50 to $49.50 with stakeholders exchanging 581 stock units, Portland JSX rallied 35 cents to $10.85 as investors exchanged 166 units, Proven Investments dropped $3.63 and ended at $20.16 with shareholders swapping 7,373 shares. Seprod declined $2 in closing at $72 with a transfer of 6,022 stock units, Sygnus Real Estate Finance climbed $1.76 to end at $11.90, with 50 stocks crossing the market and 
Wisynco Group rose 50 cents to close at a 52 weeks’ high of $21.50, with 94,427 units crossing the exchange.
In the preference segment, Eppley 7.75% preference share gained 78 cents to end at $20 after 2 shares crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price moves inched Main Market higher
Stock prices swung sharply both ways up and down on the Main Market of the Jamaica Stock Exchange on Monday, with Seprod leading the way up with $4 bounce, followed by Kingston Wharves with a gain of $2.44, NCB Financial Group up by $1.50 with Barita Investments coming in with the 92 cents gain in helping to lift the Main Market on Monday, with Guardian Holdings falling $10, followed by Pan Jamaica with $3.10, GraceKennedy down $1.70 as Caribbean Cement skidded $1, Jamaica Broilers 94 cents and Scotia Group dropping 93 cents.
Trading activity ended on Monday, with the volume of stocks traded rising 95 percent and the value falling 12 percent lower than on Friday, with trading in 54 securities compared with 52 on Friday, with 19 rising, 23 declining and 12 ending unchanged.
A total of 5,650,950 shares were traded for $35,185,337 compared with 2,896,830 units at $40,206,193 on Friday.
Trading averaged 104,647 shares at $651,580 compared to 55,708 shares at $773,196 on Friday and month to date, an average of 240,476 units at $1,524,746 compared to 249,952 units at $1,585,665 on the previous day. September closed with an average of 218,512 units at $1,768,691.
Wigton Windfarm led trading with 2.61 million shares for 46.2 percent of total volume, followed by Transjamaican Highway with 630,504 units for 11.2 percent of the day’s trade and Wisynco Group with 318,083 units for 5.6 percent market share.
The All Jamaican Composite Index rallied 813.68 points to settle at 347,030.92, the JSE Main Index climbed 136.65 points to end at 311,636.23 and the JSE Financial Index fell 0.47 points to 68.67.
The Main Market ended trading with an average PE Ratio of 12. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments advanced 92 cents and ended at $72.20 with stakeholders exchanging 19,677 shares, Berger Paints rose 45 cents to end at $7.44 after investors ended trading 581 stocks, Caribbean Cement skidded $1 to $49 while exchanging 5,598 stock units. Eppley gained 50 cents in closing at $34 with investors dealing in 301 units, GraceKennedy fell $1.70 to close at $73.20 with dealers transferring 9,741 units, Guardian Holdings dropped $10 to $430 with shareholders swapping 2 stock units.
Jamaica Broilers shed 94 cents in closing at $32.56 in an exchange of 6,946 stock units, Kingston Properties dipped 60 cents to close at $6.90, with 10,106 stocks crossing the market, Kingston Wharves rallied $2.44 to end at $27.94 with 819 shares changing hands. Mayberry Investments popped 48 cents to end at $7.48, with 126 stock units crossing the exchange, Mayberry Jamaican Equities climbed 49 cents and ended at $10.49 after an exchange of 406 stocks, NCB Financial increased $1.50 to close at $65 as 35,384 units passed through the market. Pan Jamaica dropped $3.10 to end at $47 after a transfer of 1,087 stock units, Sagicor Group rose 45 cents in closing at $43.50 with traders dealing in 20,920 stocks, Scotia Group declined 93 cents to $33.52 in an exchange of 255,607 shares, 
Seprod gained $4 and ended at $74 with an exchange of 62,271 units and Wisynco Group popped $1.07 to close at a 52 weeks’ high of $21 with 318,083 units clearing the market.
In the preference segment, Jamaica Public Service 7% increased $7.88 to $49.90, with 192 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jamaican stocks start week with mixed results
Seprod bounced $4 on the Main Market of the Jamaica Stock Exchange on Monday and was followed by Kingston Wharves with a gain of $2.44, NCB Financial Group up by $1.50 with Barita Investments coming in with the 92 cents gain in helping to lift the Main Market on Monday after Guardian Holdings fell $10, followed by Pan Jamaica $3.10, GraceKennedy down $1.70, Caribbean Cement skidded $1, Jamaica Broilers 94 cents and Scotia Group down 93 cents.
The three markets closed mixed on Monday in trading on the Jamaica Stock Exchange, with more stocks trading than on Friday but valued slightly below Friday’s trades.
At close, the JSE Combined Market Index inched 67.56 points higher to 326,289.33, while the All Jamaican Composite Index popped 813.68 points to finish at 347,030.92, the JSE Main Index rallied 136.65 points to close at 311,636.23. The Junior Market Index shed 6.75 points to settle at 3,882.77 and the JSE USD Market Index declined for a fifth consecutive day after skidding 1.23 points to close at 223.09.
Investors exchanged 21,002,315 shares in all three markets, up from 17,117,345 stock units on Friday. The value of stocks traded fell on the Junior and Main markets to $62.5 million from $66.9 million on Friday. The JSE USD market ended trading with 1,287,632 shares at US$32,552 compared to 390,785 units at US$54,548 on Friday.
In the preference segment, Jamaica Public Service 7% added $7.88 to close at $49.90.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.5 on 2022-23 earnings and 11 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts along with the closing volume pertaining to the highest bid and the lowest offer for each company.
85% gainer jumps ICTOP10
The Junior Market had an 85 percent winner during the past week, with only three stocks recording notable price changes in a market that remained fairly stable in the holiday-shortened week, with a slippage of only a few points. Price movements in the Main Market were moderate, with the highest being 5 percent at the end of the week, in which the JSE Index dropped more than 3,000 points, with the All Jamaica composite Index slipping just 90 points.
Edufocal was the star performer of the week with a big 85 percent surge in price to close at $2.50, following the company reporting that the board of directors is to meet on October 27 to discuss a possible rights issue and a stock split. Elite Diagnostic rose 13 percent to $1.77 and Everything Fresh dropped 11 percent to $1.40. The Main Market closed the week with JMMB Group falling 5 percent to $27.10, being the only stock with a notable change.
Market activity resulted in two new additions to the Junior Market ICTOP10 and one to the Main Market. Returning to the Junior Market TOP 10 are Lasco Financial Services and Lasco Manufacturing, replacing Caribbean Cream and Edufocal. Full year earnings for the former were downgraded to 55 cents per share following the release of second quarter results, which showed flat revenues for the August quarter and half year compared with 2022 and lower profit for the second quarter, with increased profit for the six months compared to 2022. Lasco Financial Services reported disappointing results for the first quarter of the new fiscal year to June. 
The company did not benefit as much from interest income as would be expected and had adequate funds on hand to expand the loan portfolio, development management indicated they would be pursuing for the rest of the year. Significant expansion of loans could radically transform both revenues and profit for the year. The extent of this improvement is unclear currently, however, the potential suggests that this is a stock to watch going forward as it could surprise to the upside. Lasco Manufacturing is, without question, a stock that is seriously undervalued, but investors pushed the price down during the week. This is clearly one for the future and one that investors should see continuous improvement in stock price over the next 12 months as the company rolls out improved profits in the quarters to come.
In the Main Market, Caribbean Producers returned to the ICTOP10 and replaced Scotia Group that was just squeezed out of the TOP10. CPJ performed well during the fiscal year ending June. The performance was obscured by a onetime charge related to past GCT claims that were booked in the past year, but for this charge, results would have been vastly better than reported, but investors may have been turned off by the results. 
The expectation is for profitability to improve during the current fiscal year ending in June 2024. The stock is clearly undervalued and has much room for growth over the next 12 months and beyond. Scotia Group, although out of the TOP10, reported a 74 percent in profit for the nine months to July and is terribly undervalued. Investors should be accumulated in the stock with the expectation for gradual appreciation, especially when the full year results are released with earnings expected to top $5.50 for the year to October 2023.
The average PE for the JSE Main Market ICTOP 10 stands at 5, well below the market average of 12. The Main Market ICTOP10 is projected to gain an average of 328 percent by May 2024, based on 2023 forecasted earnings.
A total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 105, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 22 for the top half and 16 excluding the stocks with overweight valuations.
The PE of the Junior Market TOP10 sits at 6, just over half of the market at 10.7. There are 9 stocks or 19 percent of the market, with PEs from 15 to 26, averaging 19 that are well above the market’s average. The top half of the market has an average PE of 14, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 261 percent by May 2024.
The divergence between the average PE of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2024 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 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.
JSE Main Market in weekend rally
Trading activity dropped sharply on the Jamaica Stock Exchange Main Market ended on Friday, with the volume of stocks traded declining 36 percent, with the value 52 percent lower than on Thursday, after dealing in 55 securities compared with 51 on Thursday, with 20 rising, 15 declining and 20 ending unchanged.
The market rally benefitted from some significant price increases after Guardian Holdings jumped $29, Massy Holdings rose $8.80, Pan Jamaica climbed $3.46, followed by Sagicor Group, adding $1.29 and Caribbean Cement gaining $1.27.
A total of 5,448,012 shares were traded for $31,523,597, down from 8,555,217 units at $65,664,035 on Thursday.
Trading averaged 99,055 shares at $573,156 versus 167,749 shares at $1,287,530 on Thursday and month to date, an average of 224,992 units at $1,391,827, compared with 232,031 units at $1,437,586 on the previous day. September closed with an average of 218,512 units at $1,768,691.
Transjamaican Highway led trading with 1.56 million shares for 28.7 percent of total volume, followed by Wigton Windfarm with 1.41 million units for 25.9 percent of the day’s trade and JMMB Group 7.35% – 2028 with 688,813 units for 12.6 percent market share.
The All Jamaican Composite Index dropped 168.58 points to finish at 346,820.31, the JSE Main Index popped 3,589.20 points to end at 315,399.16 and the JSE Financial Index rose 0.19 points to close at 68.67.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints dipped 93 cents in closing at a 52 weeks’ low of $6.50 in trading 6,563 units, Caribbean Cement rallied $1.27 to $50.32 and closed with an exchange of 13,083 stocks before the company reported nine months results with profit for the quarter rising bly from $1.2 billion in the 2022 third quarter to $1.94 billion on increasing revenues, with the nine months profit up modestly to $4.39 billion from $4.25 billion in 2022. Eppley rose 80 cents and ended at $34 with investors dealing in 209 shares, Guardian Holdings climbed $29 to close at $440 after an exchange of just one stock unit, 
Jamaica Producers lost 95 cents to end at $19 with 4,000 shares, clearing the market. JMMB Group popped 50 cents to $27.50 after trading 36,025 units, Massy Holdings gained $8.80 and ended at $98.80, with just three stocks crossing the market, MPC Caribbean Clean Energy skidded $13.50 in closing at $76.50 as investors exchanged 100 stock units. Pan Jamaica increased $3.46 to close at $50.46 after a transfer of 50 shares, Proven Investments fell $2.24 to end at $21.50 with stakeholders trading 6,000 units, Sagicor Group advanced $1.29 to $43.50 in switching ownership of 3,697 stocks. Seprod popped 50 cents to close at $71.50 after 2,054 stock units crossed the market and Wisynco Group advanced 71 cents in closing at $19.95 in an exchange of 107,030 shares.
In the preference segment, Jamaica Public Service 9.5% dropped $9 to end at $2,890, with one stock changing hands and Productive Business Solutions 9.75% preference share rose $4.25 and ended at $125 with traders dealing in 10 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on JSE Main Market
Trading activity picked up on the Jamaica Stock Exchange Main Market ended on Thursday, but still
remained dismally low even with the volume of stocks traded rising 57 percent and the value jumping 55 percent more than on Wednesday, following trading in 58 securities, up from 53 on Wednesday, with 22 rising, 18 declining and 18 ending unchanged.
A total of 6,370,228 shares were traded for $39,980,722 compared with 4,057,118 units at $25,768,191 on Wednesday.
Trading averaged 109,832 shares at $689,323 versus 76,549 shares at $486,192 on Wednesday and month to date, an average of 263,942 units at $1,644,181, compared with 277,403 units at $1,727,587 on the previous day. September closed with an average of 218,512 units at $1,768,691.
Wigton Windfarm led trading with 2.04 million shares for 32 percent of total volume followed by Sagicor Select Financial Fund with 1.35 million units for 21.2 percent of the day’s trade and JMMB Group 7.35% – 2028 with 529,471 units for 8.3 percent market share.
The All Jamaican Composite Index popped 3,669.02 points to settle at 347,821.93, the JSE Main Index increased 2,954.52 points to conclude trading at 315,397.91 and the JSE Financial Index popped 0.59 points to 69.50.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints rallied 44 cents to close at $7.44 with an exchange of 130 shares, Caribbean Cement advanced $1 and ended at $50 in trading 2,304 stock units, General Accident increased 71 cents to end at $5.72 with stakeholders exchanging 12,882 units, GraceKennedy declined 77 cents in closing at $72.23, with 56,996 stocks changing hands. Jamaica Broilers dropped 52 cents to $33.48 in an exchange of 11,241 stock units, Jamaica Producers skidded 50 cents to end at $19.50 after an exchange of 109 shares, Jamaica Stock Exchange lost $1.21 to a 52 weeks’ closing low $8.11, with 230,481 units crossing the market, Kingston Wharves shed $1.30 to close at $25.70 in an exchange of 1,668 stocks. 
Massy Holdings dipped 60 cents to $96.50 with 1,251 shares clearing the market, Mayberry Investments rose 45 cents and ended at $7.45 after 75 stock units passed through the market, but before the company released nine months result with a $985 million loss for the third quarter and $693 million loss for the nine months, after reporting big investment losses in both periods. MPC Caribbean Clean Energy climbed $9 in closing at $90 while exchanging 56 stocks, NCB Financial fell $1.01 to $63.99 as investors exchanged 97,603 units, Pan Jamaica popped $2.10 to close at $50.10 in switching ownership of 90 shares, Sagicor Group dipped 98 cents and ended at $43.50 and closed with an exchange of 4,169 stock units. Scotia Group gained 95 cents to end at $34.70 with traders dealing in just 2,800 stocks, Seprod rallied $4.74 to $70 with shareholders swapping 55,404 units, Supreme Ventures popped 50 cents in closing at $26.75 after 3,600 shares crossed the exchange and Wisynco Group gained $1.40 to end at $19.50 with a transfer of 293,089 stocks.
In the preference segment, Productive Business Solutions 10.5 % preference share jumped $54 to close at $1100 after trading 19 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main & Junior Market rise on increased trading
Trading picked up on the Jamaica Stock Exchange on Thursday with almost 68 percent more stocks traded compared with Wednesday with 62 percent more funds entering the market, resulting in the JSE USD market declining again moderately as the Junior Market inched just over the 3,900 points mark as the Main Markets jumped to close of trading.
At close, the JSE Combined Market Index jumped 2,806.14 points to 329,996.31, the All Jamaican Composite Index surged 3,669.02 points to settle at 347,821.93, the JSE Main Index rallied 2,954.52 points to 315,397.91 as MPC Clean Energy jumped $9, Seprod climbed $4.74, Pan Jamaica popped $2.10, Wisynco Group gained $1.40 and Caribbean Cement up $1 and declines of more than $1 in Kingston Wharves, Jamaica Stock Exchange and NCB Financial could not seriously negate Thursday’s gains. The Junior Market Index gained 4.83 points to end trading at 3,903.72 and the JSE USD Market Index dipped again by 0.88 points to conclude trading at 230.60.
Investors exchanged 21,058,075 shares in all three markets, up from 12,549,714 stock units on Wednesday. The value of stocks traded rose on the Junior and Main markets to $71.26 million, up from $44.1 million on Wednesday. The JSE USD market ended with 281,542 shares being traded, for US$6,866 compared to 2,973 units at US$15,157 on Wednesday.
In the preference segment, Productive Business Solutions 10.5% preference share jumped $54 and ended at $1,100.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.7 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors.
Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Trading sank on the JSE Main Market
The level of trading activity on the Jamaica Stock Exchange Main Market was a shadow of its usual self at the close on Wednesday, with the volume of stocks traded declining 71 percent and the value 81 percent lower than on Tuesday, with 53 securities trading compared with 58 on Tuesday, with a mere 4,057,118 shares traded for just $25,768,191 compared with 14,138,225 units at $134,834,411 on Tuesday.
Trading ended with prices of rising and declining stocks totalling 19 each with 15 ending unchanged.
Trading averaged 76,549 shares at $486,192 versus 243,763 shares at $2,324,731 on Tuesday and month to date, an average of 277,403 units at $1,727,587, compared with 294,826 units at $1,835,269 on the previous day. Trading in September averaged 218,512 units at $1,768,691.
Transjamaican Highway led trading with 1.81 million shares for 44.5 percent of total volume followed by Wigton Windfarm with 429,792 units for 10.6 percent of the day’s trade and Carreras chipped in with 381,152 units for 9.4 percent market share.
The All Jamaican Composite Index dipped 3,302.43 points to close at 344,152.91, the JSE Main Index shed 2,782.98 points to 312,443.39 and the JSE Financial Index lost 0.40 points to 68.91.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Caribbean Cement lost $1 in closing at $49 with traders dealing in 34,016 shares, General Accident declined 79 cents to end at $5.01, with 20,000 stock units crossing the market, GraceKennedy fell $1.99 and ended at $73 while exchanging 2,619 units. Jamaica Broilers rallied $1.25 to $34 with shareholders swapping 113 stocks, Jamaica Stock Exchange dropped 58 cents to close at a 52 weeks’ closing low of $9.32 after hitting a 52 weeks’ intraday low of $8.01, with stakeholders exchanging 167,778 stock units. Kingston Wharves dipped $3.75 to $27 in an exchange of 7,549 stocks, NCB Financial popped $1 and ended at $65 after closing with an exchange of 5,183 shares, Proven Investments skidded $2 to end at $22 in an exchange of 2,403 units. 
Sagicor Group rose $1.46 in closing at $44.48 after investors traded 26,043 stock units, Salada Foods advanced 42 cents to close at $3.04 104,742 stocks crossing the market, Seprod shed $6.24 and ended at $65.26, with 8,024 shares changing hands. Stanley Motta increased 80 cents to close at $6 with investors dealing in 1,845 units, Supreme Ventures dipped 75 cents to end at $26.25 in trading 30,032 stock units and Wisynco Group dropped 36 cents in closing at $18.10 after 44,718 stocks passed through the market.
In the preference segment, Jamaica Public Service 7% gained $8 to close at $50 with a transfer of 149 units, 
Jamaica Public Service 9.5% climbed $10 to end at $2,900 with an exchange of 2 shares and Productive Business Solutions 9.75% preference share jumped $21.75 to $120.75 after a transfer of 1,655 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE Main Market
Trading activity picked up on the Jamaica Stock Exchange Main Market on Tuesday, with the volume of stocks traded rising 34 percent and the value 9 percent more than on Friday, after trading in 58 securities compared with 57 on Friday, with rising and declining stocks numbering 18 each with 22 ending unchanged but resulted in solid gains for Kingston Wharves, GraceKennedy and Seprod that helped keep the market in positive territory at the close. 
A total of 14,138,225 shares were exchanged for $134,834,411 up from 10,576,110 units at $124,236,160 on Friday.
Trading averaged 243,763 shares at $2,324,731 compared to 185,546 units at $2,179,582 on Friday and month to date, an average of 294,826 units at $1,835,269 compared with 300,182 units at $1,783,933 on the previous trading day and above September’s average of 218,512 units at $1,768,691.
Wisynco Group led trading with 5.16 million shares for 36.5 percent of total volume followed by Wigton Windfarm with 3.77 million units for 26.6 percent of the day’s trade, Transjamaican Highway with 1.59 million units for 11.2 percent market share, Carreras with 1.54 million units for 10.9 percent market share and Palace Amusement with 1.01 million units for 7.1 percent of total volume.
The All Jamaican Composite Index gained 1,148.31 points to end at 347,455.34, the JSE Main Index advanced 341.60 points to conclude trading at 315,226.37 and the JSE Financial Index popped 0.04 points to end at 69.31.
The Main Market ended trading with an average PE Ratio of 12.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
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, Barita Investments dipped 40 cents and ended at $72.50 after an exchange of 8,822 shares, Caribbean Producers shed $1.53 in closing at $9.14 with investors exchanging 35,929 stocks, GraceKennedy rose $2.98 to end at $74.99 after exchanging 1,127 units, 
Jamaica Broilers skidded $1.25 to $32.75 after a transfer of 36,766 stock units, JMMB Group dropped 97 cents to close at $27.50 as investors traded 31,660 units, Kingston Wharves rallied $3.24 to close at $30.75 with an exchange of 53,840 stocks, Pan Jamaica lost $2.22 to $47.98 with traders dealing in 15,171 stock units, Proven Investments increased $2 to end at $24, with 5,956 shares changing hands, Seprod climbed $2.50 and ended at $71.50 in an exchange of 3,891 stocks, Stanley Motta fell 85 cents in closing at $5.20 with investors dealing in 1,049 stock units and Wisynco Group gained 35 cents and ended at $18.46 with a transfer of 5,160,425 shares.
In the preference segment, JMMB Group 7.25% preference share declined 43 cents in closing at $2.05 with investors transferring 4,787 units and 
Productive Business Solutions 9.75% preference share dropped $1 to end at $99 after 729 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Four new ICTOP10 listings
The Junior Market rose modestly during the past week while the Main Market slipped marginally to close out the week, resulting in ICTOP10 stocks delivering mixed results with the Junior Market recording some solid price increases and just three declines while the ICTOP10 Main Market stocks had just one price decline with three stocks recording notable price increases.
Market activity resulted in three new additions to the Junior Market ICTOP10 and one in the Main Market. Returning to the Junior Market TOP10 are Consolidated Bakeries, Dolphin Cove and Lasco Distributors replacing Image Plus, Lasco Financial Services and Paramount Trading with the latter reporting lower profits and revenues in the first quarter ended August and Image Plus reporting sharply lower second quarter and half year results that pushed projected earnings for the year to 27 cents per share. In the Main Market, Caribbean Producers dropped out of the ICTOP10 and is replaced by Caribbean Cement.
The Main Market closed the week with Key Insurance jumping 16 percent to $2.68, Scotia Group rising 5 percent to $33.60 and Caribbean Producers popping 4 percent to close at $10.67.
The Junior Market produced gains of 17 percent for Paramount Trading which closed up $1.76 and 16 percent of four Caribbean Cream at $4.65 followed by Lasco Financial Services up 7 percent to $2.06, declining was Elite Diagnostic down 15 percent to $1.57 and five percent for Caribbean Assurance Brokers to close at $3.03.
The average PE for the JSE Main Market TOP 10 stands at 5.1, well below the market average of 12.2. The Main Market TOP10 is projected to gain an average of 328 percent, by May 2024, based on 2023 forecasted earnings.
A total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 20 excluding the highest PE ratios, and a PE of 22 for the top half and 16 excluding the stocks with overweight valuations.
The PE of the Junior Market TOP10 sits at 5.7, half of the market at 10.8. There are 11 stocks or 23 percent of the market, with PEs from 15 to 25, averaging 19 that are well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 261 percent by May 2024.
The divergence between the average PE of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
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, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2024 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 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.