Barita Investments jumped $10 to close at $55 following release of third quarter results showing a For the quarter, profit after tax jumped 594 percent to $911 million.
NCB Financial pushed higher by $4.99 to close at $195 after it hit a high of $201 during the day. Grace jumped $3 to $70, JMMB Group was up at the close by $2 but traded at a record $55.07 before pulling back at the close to $50.
Trading ended with the JSE All Jamaican Composite Index surged 8,298.01 points to end at a record close at 530,993.12 and the JSE Index leaped 7,540.72 points to record close of 483,522.32. The JSE Financial Index rose 3.09 points in closing at 130.09 points.
Market activity resulted in 38 securities trading in the main and US dollar markets and leading to 11 securities advancing, 12 declining and 14 trading firm. Trading ended with 32,848,536 units valued $123,106,978 compared to 34,066,074 units valued at $403,962,467 changing hands, from 36 securities on Monday.
Wigton Windfarm led trading with 29.7 million shares for 91 percent of total main market volume, followed by Carreras with 494,439 stock units for 1.5 percent of total volume and Wisynco Group with 402,978 shares for 1.2 percent of the day’s volume.
The market closed with average of 938,530 units valued at an average of $3,517,342 for each security traded, in contrast to 1,001,943 units for an average of $11,881,249 on Monday. The average volume and value for the month to date amounts to 1,158,213 shares valued at $9,895,777 changing hands, compared 1,191,212 shares valued at $10,995,507 for each securities traded. June closed with an average of 1,608,485 units valued at $19,605,318 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 6 with lower offers.
In the main market activity, Barita Investments surged $10 to end at $55, with 67,312 stock units trading, Berger Paints gained 45 cents to close at $18.95, with 17,395 units changing hands, Eppley dropped $1.25 to $16, in exchanging 15,776 stock units, Grace Kennedy jumped $3.10 and finished trading 15,344 units at $70. Jamaica Broilers lost 88 cents to close at $33.12, with 26,227 shares changing hands, Jamaica Producers lost $2.50 and concluded trading of 16,080 shares, at $26.50. Jamaica Stock Exchange gained $2 to close at $31, with an exchange of 65,150 stock units, JMMB Group rose $2 and ended at $50, with 159,763 shares trading, Kingston Wharves lost $2 and ended trading 15,144 shares at $69, Mayberry Jamaican Equities fell 34 cents and finished trading 21,318 shares at $11.51, NCB Financial rose $4.99 trading 137,850 shares to close at $195, Portland JSX lost 45 cents and ended trading with 30,000 stock units at $8.05, Sagicor Group rose 39 cents trading 252,322 stock units to end at $57.49. Scotia Group ended trading of 15,901 shares with a rise of 48 cents to close at $57.48 and Seprod lost $1.10 and settled at $46.90 in exchanging 101,944 shares.
Trading in the US securities market resulted in 300,235 units valued US$45,290 units changing hands. Market activity ended with JMMB Group 6% preference share with 3,000 units trading at US$1.04, Proven Investments trading 75,635 shares to close at 25 US cents and Sygnus Credit Investments with a loss of one cent to 11 US cents, in trading 221,600 units. The JSE USD Equities Index inched 0.07 points up to 187.31.
IC TOP 10 stocks hit record highs
The main market hit a new record on Thursday as the All Jamaica Index the long term resistance at 520,000 points was pierced but the market pulled back on Friday with NCB Financial trading a large volume down at $173, down from $190 it was previously trading.
The Junior Market moved up and down during the week, with Fontana and Elite Diagnostic two TOP 10 listings hitting new record highs during the week. Sygnus Credit Investments in the main market also jumped to a record high during the week.
There was just one change to the TOP 10 lists this past week with Grace Kennedy coming in for Jamaica Broilers in the main market. Junior are now in the upper half of the Junior Market, both are now supported by 2020 earnings that are higher than for the year just ended. Earnings of former TOP 10 listing, Wisynco Group with switch to 2020 fiscal year earnings now sits outside the Top 10 but is still an attraction at number 16, but the stock came under selling pressure this past week.
Junior Market stocks continue to struggle to get investors’ attention. With the market consolidating and the expectation of mostly positive results to the market is poised for a takeoff very soon with the market highly undervalued.
The three most attractive Junior Market stocks are, Caribbean Producers with projected gains of 256 percent, Iron Rock with gains of 243 percent, followed by and AMG Packaging with possible gains of 200 percent.
Radio Jamaica heads the main market with 191 percent potential gains followed by Sterling Investments with expected gains of 165 percent and Sygnus Credit Investments in third spot with the potential to gain 153 percent by March next year.
The main market, closed the week with the overall PE at 15.3 and the Junior Market at 10. The PE ratio for Junior Market Top 10 stocks averages 6.9 and the main market PE 8.8. These levels, point to a big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 31 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 42 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential 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 interest in the securities commented on.
Big surprise in IC TOP 10 changes
Sygnus Credit Investments is back in the main market TOP 10 and now sits close to the top, replacing Grace Kennedy that rose to $67 on Friday in a week when the main market closed at another record high.
strong>Sygnus jumped in, based on a switch to earnings for the new fiscal year starting in July. Junior Market Fontana and Elite Diagnostic are now in the upper half of the Junior Market TOP 10, both are now supported by 2020 earnings that are higher than for the year just ended. Everything Fresh and Main Event eased out of the Junior Market listing. Earnings of Wisynco Group, a former TOP 10 listing, have also been switched to 2020 fiscal year earnings, but with the price having risen strongly this year, potential gains will not be sufficient to put it in the list any time soon.
Junior Market stocks continue to struggle to get investors’ attention but the market is consolidating with investors targeting a select group and is poised for a takeoff very soon with the market highly undervalued, currently.
The three most attractive Junior Market stocks are, Iron Rock with projected gains of 243 percent, followed by Caribbean Producers 233 percent and Elite Diagnostic with possible gains of 225 percent.
Radio Jamaica heads the main market with 170 percent potential gains followed by Sygnus Credit Investments with expected gains of 167 percent and Sterling Investments in third spot with the potential to gain 163 percent by March next year.
The main market, closed the week with the overall PE at 15.2 and the Junior Market at 11.2. The PE ratio for Junior Market Top 10 stocks averages 6.7 and the main market PE 8.9. These levels, point to a big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 41 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential 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 interest in the securities commented on.