Bulls cooled their heels this past week allowing for a fall in the Main and Junior Market with the former slipping 0.9 percent and the latter dipping half of a percent for the week, resulting in notable price changes in the Junior Market but modest changes in the Main Market.
Just two stocks fell and 8 rose in the Junior Market ICTOP10 during the week, reversing last week’s adverse movement of just two rising and 8 falling. The performance of the Main Market ICTOP10 resulted in three stocks gaining while four declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. JMMB Group returns to the All JSETOP10 following a week’s absence along with Caribbean Producers, replacing the Junior Market, Access Financial and AMG Packaging.
Guardian Holdings with the potential to gain 436 percent continues to hold the number one spot in the market with 138 Student Living at number 2 in the All JSE ICTOP10 for a seventh week. Elite Diagnostics holds the number one spot in the Junior Market TOP10 followed by Caribbean Cream and Iron Rock Insurance.
In the Junior Market IC TOP10, Iron Rock Insurance fell 7 percent to $4 and was the only stock with a notable loss. The biggest winner is Lumber Depot recovering from the loss of the previous week in jumping 27 percent to $2.64, AMG Packaging riding a wave of positive news about expansion surged 22 percent to $3.42, Caribbean Assurance climbed 12 percent to end at $2.80, Access Financial rose 11 percent to $17.01, but continues to struggle under relatively heavy selling pressure and will require positive third quarter results to help alleviate it and Express Catering popped 8 percent to $3.25.
In Main Market ICTOP10 activity, Berger Paints shed 14 percent to close at $7.36, Key Insurance dropped 10 percent to $2.20, Caribbean Producers and Scotia Group lost 5 percent to $8.50 and $52 respectively.
JMMB Group returns to the Main Market ICTOP10, replacing Lasco Distributors and the Junior Market ICTOP10 list lost Lumber Depot with Jamaican Teas coming in as the replacement.
The average PE for the JSE Main Market ICTOP 10 stands at just 5.4, well below the market average of 15 and the Junior Market TOP10 sits at 8, more than half of the market, with an average of 13.
Based on the earnings projected for 2024, the Main Market ICTOP10 is projected to gain an average of 284 percent by May 2025, providing better values than the Junior Market, which has the potential to achieve a 163 percent increase over the same period.
In the Main Market ICTOP 10, there are 16 stocks with the highest values representing 31 percent of the Main Market, with PEs between 15 to 105, with an average of 30 and 21 excluding the highest PE ratios and a PE of 24 for the top half of the market with the highest values and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, 25 percent of the market, with PEs ranging from 15 to 32 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
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 will likely deliver the best returns on or around May 2025 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.
The market closed with the trading of 8,555,361 shares with a value of $62,855,712 down from 27,432,042 stock units valued at $280,889,896 on Thursday.
The Main Market ended trading with an average PE Ratio of 15.6. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Proven Investments sank 42 cents to $19 as investors traded 1,014 stocks, Sagicor Group shed 38 cents and ended at $40.60 with 28,379 stock units crossing the market, Scotia Group advanced $1.30 to close at $52 with 415,924 shares switching owners. Seprod declined 70 cents to $85 with traders dealing in 36,298 stock units and Wisynco Group fell 48 cents to finish at $21.02 with 95,659 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of the market, the JSE Combined Market Index increased 1,749.51 points to wrap up trading at 345,648.35, the All Jamaican Composite Index increased by 2,396.34 points to finish at 385,186.28, the JSE Main Index gained 1,694.68 points to 333,720.00, the Junior Market Index rallied 17.98 points to end at 3,698.28 and the JSE USD Market Index dipped 1.85 points to 232.95.
The market’s PE ratio, the most popular measure used to value stocks, ended at 14 on 2024 earnings and 20.6 based on 2023-23 historical earnings. The ICInsider.com PE ratio chart and the other more detailed daily charts provide investors with regularly updated information to help decision-making. The PE ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange, grouped by industry and allowing for easy comparisons within a sector and the overall market. The earnings per share (EPS) and PE ratios are based on 2024 and 2025 actual or projected earnings, excluding any major one time income or expense.
The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company 
QWI Investments traded at a 52 weeks’ closing high of 98 cents and AS Bryden and Sons traded at an intraday 50 weeks’ low of $29.01.
The Main Market ended trading with an average PE Ratio of 15.1. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Mayberry Jamaican Equities advanced 44 cents and ended at $11.80 in trading 693 shares, Pan Jamaican sank $5.62 to $51.02 with 753 stock units being traded, Sagicor Group gained $3.33 to finish at $40.98 in an exchange of 1,004,314 stocks. Scotia Group shed $1.30 to close at $50.70 with traders dealing in 56,885 units, Seprod rose $1.30 to close at $85.70 after a transfer of 1,706 shares and Supreme Ventures declined 41 cents to end at $22.59 with 64,867 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of the market, the JSE Combined Market Index dipped 703.68 points to 343,898.84, the All Jamaican Composite Index sank 109.32 points to 382,789.94, the JSE Main Index fell 742.17 points to conclude trading at 332,025.32, the Junior Market Index advanced a mere 0.85 points to 3,680.30 and the JSE USD Market Index inched 0.11 points higher to 234.80.
The market’s PE ratio, the most popular measure used to value stocks, ended at 13.8 based on 2025-26 earnings and 20.3 based on 2024-25 historical earnings. The ICInsider.com PE ratio chart and other 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 within a sector and the overall market. The earnings per share (EPS) and PE ratios are based on 2024 and 2025 actual or projected earnings, excluding any major one time income or expense.
The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
The market closed with the trading of 8,067,093 shares at $79,460,205, well below the 26,059,234 stock units at $82,370,790 on Tuesday. Trading averaged 136,730 shares at $1,346,783 compared to 420,310 stocks at $1,328,561 on Tuesday and month to date, an average of 252,094 units at $1,358,557, down from 279,650 shares at $1,361,369 on the previous day and December with an average of 967,720 stock units at $18,390,902.
The Main Market ended trading with an average PE Ratio of 14.6. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
GraceKennedy popped $2.90 and ended at $77.90 with a transfer of 23,486 units, Jamaica Producers skidded 65 cents to $24 to close with the trading of 24,118 stock units, Mayberry Jamaican Equities fell 45 cents to end at $11.36 with 402 shares switching owners. Pan Jamaica rallied $5.64 to close at $56.64 with traders exchanging 3,421 units, Sagicor Group dropped $2.35 to finish at $37.65 in an exchange of 20,207 stocks, Scotia Group sank $2 to close at $52 after the trading of 22,322 stock units. Supreme Ventures rose 82 cents to $23 after an exchange of 5,502 shares and Sygnus Credit Investments gained 50 cents to close at $12.90 with investors trading 17,783 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with Carreras and Sagicor Select Manufacturing Funds closing at 52 weeks’ highs and Sterling Investments and QWI Investments trading at intraday 52 weeks’ highs.
The Main Market ended trading with an average PE Ratio of 15.5. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Lasco Manufacturing rallied 40 cents to end at $8 with 214,975 stock units crossing the market, NCB Financial gained 48 cents to close at $51 with investors trading 87,010 stock units, Pan Jamaica declined $3 to close at $51 after an exchange of 11,613 units. Sagicor Group sank $1 to $40 with a transfer of 8,249 stocks, Scotia Group rose $1.50 to close at $54 after trading 27,388 units, Supreme Ventures skidded $1.52 and ended at $22.18 with an exchange of 32,736 shares. Sygnus Credit Investments lost 55 cents to end at $12.40 with 48,443 stock units passing through the market and Sygnus Real Estate Finance slipped 38 cents to close at $9.90 with trading in 612 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of the market, the JSE Combined Market Index gained 655.63 points to wrap up trading at 345,653.13, the All Jamaican Composite Index rose 1,216.87 points to close at 384,291.70, while the JSE Main Index increased 893.50 points to 333,804.62, the Junior Market Index slipped 27.73 points to close at 3,687.66 and the JSE USD Market Index fell 2.68 points to settle at 233.02.
In the preference segment, Eppley 7.75% preference share skidded $3.37 to $19 and 138 Student Living preferred share fell $2.75 to $225.25.
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 incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
At the close of the market, the JSE Combined Market Index dropped 3,738.74 points to close at 344,997.50, the All Jamaican Composite Index sank 5,392.63 points to wrap up trading at 383,074.83, the JSE Main Index dived 3,890.22 points to settle at 332,911.12, the Junior Market Index lost 2.59 points to close at 3,715.39 and the JSE USD Market Index advanced 1.10 points to wrap-up trading at 235.70.
In Junior Market trading, Lasco Financial led with 1.58 million shares followed by Everything Fresh with 1.42 million stocks and Kintyre Holdings with 1.16 million units.
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 incorporated into the chart. Investors can use this measure to assess stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
The week’s movement resulted in just two stocks rising and 8 falling, with five suffering big losses in the Junior Market ICTOP10. The performance of the Main Market ICTOP10 was in sharp contrast to the Junior Market, as five stocks gained and only two declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. Key Insurance returns to the All JSETOP10 following a week’s absence and Access Financial returns, replacing JMMB Group and Pulse Investments, with earnings for both revised downward, following the release of September results.
In the Junior Market IC TOP10, Iron Rock Insurance was the only stock with a noteable gain, with the price rising 19 percent to $4.29. Lumber Depot dropped 22 percent to $2.08, Caribbean Flavours dived 14 percent to end trading at $1.20, Caribbean Assurance shed 13 percent to end at 2.51 and Express Catering fell 11 percent to $3.01.
The average PE for the JSE Main Market ICTOP 10 stands at just 5.6, well below the market average of 14.9 and the Junior Market TOP10 sits at 7.5, more than half of the market, with an average of 13.