The Jamaica Stock Exchange main market declined on Monday after posting another intraday high of 418,00.53 Points.
At the end of trading, All Jamaica Composite Index lost 1,050.58 points to close at 415,905.53 and the JSE Index fell 957.20 points to 378,937.01.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 8 stocks ending with bids higher than the last selling prices and 4 closing with lower offers, suggesting mostly gains ahead for stocks.
A total of 27 securities traded including 2 in the US dollar market, compared to 32 trading on Friday with the prices of 13 securities rising, 7 declining and 7 holding firm.
There were 6 securities trading at 52 weeks’ highs during the day, with just ending at a 52 weeks’ closing highs. Stocks trading at new highs are Mayberry Investments, JMMB Group, NCB Financial Group and PanJam Investment, while Radio Jamaica ended at a 52 weeks’ low.
Trading ended with major contraction in trading volume in the main market compared to Friday’s levels, with 13,217,499 units valued at $228,334,356 compared to 3,405,863 units valued at $88,834,288 changing hands on Friday.
Trading closed with Wisynco Group led with 10,075,318 units and 76.23 percent of the day’s volume followed by NCB Financial Group with 609,701 units or 4.61 percent of the day’s volume and Jamaica Producers with 551,409 units or just 4.17 percent of the volume traded.
Trading resulted in an average of 528,700 units valued at over $9,133,374, in contrast to 117,444 shares valued at $3,063,251 on Friday. The average volume and value for the month to date amounts to 394,228 shares, valued $6,099,986 and previously, 448,288 shares, valued $6,994,366. September closed, with an average of 1,022,243 shares valued $15,752,876, for each security traded.
In the main market activity, Caribbean Cement gained 90 cents to finish at $50, in exchanging 5,195 shares, Grace Kennedy rose $1 and ended trading 14,811 shares at $62, Jamaica Broilers rose 51 cents in trading 42,674 stock units stock units to close at $33, Jamaica Producers rose 49 cents and finished trading 551,409 units at $29.50 Mayberry Investments rose 50 cents to finish at $9.50, trading 134,512 stock units, NCB Financial Group dropped $3.50 trading 609,701 shares to end at $130, PanJam Investment fell 89 cents and closed at $64.01,with 40,270 stock units trading, Sagicor Group gained $1.05 to settle at $41.05, with 24,540 shares,
Sagicor Real Estate Fund lost $1 to end at $14, trading 113,782 shares, Scotia Group rose $1 in trading 256,277 units to close at $61, Seprod jumped $2.20 in trading 3,289 shares to close at $49, Stanley Motta rose 75 cents to close at $5.25 with 15,863 shares trading Sterling Investments jumped $2.99 and closed at a 52 weeks’ high of $25 with 22,000 shares changing hands and Sygnus Credit Investments lost 36 cents in trading 18,302 shares to end at $12.51.
Trading in the US dollar market closed with 54.335 units valued at $8,377, changing hands. Proven Investments traded 20,000 shares to close at 23 US cents and Sygnus Credit Investments US dollar based ordinary share traded 34,335 units to end at 11 US cents. The JSE USD Equities Index gained 0.12 points to 175.27.
Review of 2018 stock market forecast

Palace hits a new high of $1,500 to be top performer in 2018 so far.
“ Assessment of the market, suggests that 2018 could be a grand year, with overall price gains likely to be in excess of 40 percent”, a quote from IC Insider.com in February, this year.
“Based on projected earnings for 2018, the average PE ratio suggests that main market stocks should grow by 26 percent. Falling interest rates could add another 20 percent to gains during the year, bringing overall gains in excess of 40 percent.”
“Technical readings of the market have the main market heading initially to around 390,000 points or 23 percent ahead of the December close, for the all Jamaica Index, before resistance sets in and then moving much higher, later on’ the IC Insider.com forecast for 2018 stated.
With almost three more months to go, before the year ends, the main market is broken through the 390,000 points mark to be up 31.7 percent for the year to date, there seems no stopping it for now.
The report in February stated that the main market was caught in a wedge formation, trading just below the upper end of channel that can be traced to late 2015. The wedge could hold the market in consolidation mode for a short time, a month or two, before breaking out, most likely to the upside.
IC Insider.com projects that many of the main market heavy weights will find it tough to repeat the strong gains they enjoyed in 2017, if that is the case, their impact on the market index is likely to be less than for 2017. Another factor that could make a repeat of 2017 tough, is the movement of interest rates. Last year, Treasury bill rates fell 29 percent from 6.56 percent to 4.83 percent, that level of decline, is unlikely to happen in 2018, even as some of the decline in the latter part of 2017 is yet to be fully reflected in the prices of stocks to date and should positively affect prices in 2018. IC Insider.com is forecasting rates on 182 days Treasury bill hitting 3 percent by the end of the 2018 first quarter. Treasury bill rates in 2018 at 1.7 percent, have fallen more sharply than in 2017.
The original piece stated that “there are a number of other factors at play that are set to impact the market. Increasing employment is taking place with the highest number of persons employed in the country’s history. Attendant with that is the sharp fall in unemployment from more than 16.3 percent in 2013, to just over 10 percent in 2017. The annual net employment is growing around 30,000 persons per year and that could rise as the economy gains steam. This will mean more spending and increased tax collection for government. Alpart resumption of Alumina production is a big positive for the overall economy, for increased government revenues and more demand for local goods and services, some of which are provided by listed companies. The tourism sector is enjoying strong growth, apart from increasing foreign exchange intake for the country, will have direct impact on Jamaica Producers and Sagicor X Fund. Jamaica seems to be going through a construction boom with several new buildings under construction, Caribbean Cement and Berger Paints should benefit considerably from such developments.”
“More listings on the stock market will result in increased fee income for JSE and brokerage houses, from increased trading volumes.”
The TOP 10 stocks include a few surprises while there are others that sit just outside the top stocks that investors may still want to keep a keen eye on. Investors should be looking beyond 2018 as medium term gains beyond 2018 could be strong for stocks that will benefit from current developments, long term.
The TOP 10 selection is selling well below the average PE of the Main market of the Jamaica Stock Exchange at just over 6.3 versus nearly 12 at the end of 2017.

Barita last traded on the JSE as high as $20 on Friday.
Barita Investments moved more into fee based income and that is working well for them, with sharp growth, while net interest income stagnates. The prospects for continued strong growth in fee income continues with more investors seeking better returns than in the fixed interest market. The company should see a change in ownership soon and that could see a more aggressive approach to management that could optimize returns from exiting business and newer lines. Unrealized gains on investment ought to be factored into its earnings in valuing the stocks and that would boost its value considerably, the market is not paying attention.
Berger Paints is set to be a big winner with increasing sales coming from a buoyant construction sector resulting in increased profit and what IC Insider.com expects to be a healthy dose of dividend payments. It could become the next Carreras from a dividend yield standpoint but with growing profits. The company will benefit from lowering of overhead cost which was evident in 2017.
Jamaica Broilers continues to grow organically and from new business being acquired. Growth will continue as the Haitian market deliver greater returns form a growing market while the poultry demand in Jamaica continues to grow.
Caribbean Cement will benefit from lower operating cost, increased sales and a planned cut in financing of the lease which is said will cut hundreds of millions of dollars out of it cost that could come close to $2 per share per annum.
Palace Amusement Company, currently enjoying sell out cinemas with block buster hit, is one of those unusual choices. It enjoys minimal trading but it could surprise on the upside if all goes well. Growth in the economy and increased employment will help to boost patronage going forward and will aid in profit growth as well.
JMMB Group put out outstanding Q3 results with a 39 percent increase in profit and strong gains in revenues, auguring well for 2019 outcome.
The growth potential remains strong and investors in the stock will reap rich rewards down the road. Just one stock that requires patience. By the way fees and commission income jumped an impressive 71 percent to $512 million in the quarter and 53 percent in the nine months, over the similar period in 2016 and should continue to do so going forward.
Radio Jamaica continues to disappoint with below expected revenues and profit. It could return to favour but needs to generate more income from advertising. This is one to accumulate for a payoff down the road.
The other three stocks, Sterling Investments, Grace Kennedy and Sagicor Group are undervalued and could deliver some decent returns to patient investors.
Below the TOP 10 are strong candidates to deliver decent returns this year and beyond, the list includes NCB Financial that is on a strong growth trajectory and recently listed Wisynco Group that should generate earnings around $1.10 for the 2019 fiscal year that starts in July.




returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, 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 based on new information received that can result in changes in and out of the list as well.


Jamaica Stock Exchange main market climbed to another record close on Wednesday past the 408,000 points mark based on the movement of the All Jamaica Composite Index. Closing quotes suggest that the market should move higher on Thursday.
Kingston Wharves added $1.10 to close at a record $75.10, with 6,139 stock units changing hands, Mayberry Equities rose 15 cents to finish at closing high of $11.60, trading 122,247 stock units,
Jamaica Stock Exchange main market surged past the 405,000 points for the first time based on the movement of the All Jamaica Composite Index on Tuesday aided by the prices of 20 stocks rising. 

Stocks surged to new record high on the Jamaica Stock Exchange main market at the start of October, as the market opened, with the All Jamaica Composite Index jumping within 535 points of the critical 400,000 mark and with 35 minutes of trading, it climbed over 400,000 points for the first time. 
trading, NCB Financial Group climbed $3.75 and ended trading of 77,954 shares at $128.75, PanJam Investment jumped $6.50 and ended at 52 weeks’ closing high of $64.50, while exchanging 3,510 stock units, Sagicor Group gained 90 cents to settle at $39, in the trading of 157,640 shares. Sagicor Real Estate Fund dived $2.39 to settle at $11.11, trading 1,221,240 shares, Scotia Group rose $2 trading 64,186 units to close at $62.00, Sterling Investments jumped $1 to end at a 52 weeks’ closing high at $23, with 3,352 shares changing hands and Sygnus Credit Investments traded 12,500 shares and fell 50 cents to end at $12.50.

higher this week with buying orders in for 139,000 shares at $15. The price of Stanley Motta climbed to $5.27 during the week from $4.81 in the previous week and exited the main market list.
for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, 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 based on new information received that can result in changes in and out of the list as well.
The Jamaica Stock Exchange, surged sharply for the second trading day with the All Jamaica Composite Index jumping 5,287 points to a record close of 393,277.29 and a gain of more than 10,500 points gain in just two days.
The main market ended with 7,891,758 units valued at over $231,891,130 changing hands, compared to 269,506,497 units valued at $3,571,606,905 changing hands on Thursday. Trading closed with
exchange of 56,396 shares. Kingston Wharves rose $2 to $74, with 16,204 stock units changing hands, 
A total of 30 securities traded in the main and US dollar markets compared to 34 trading on Wednesday with Sagicor Real Estate Fund dominating trading with 264,879,865 units in the main market that ended with 269,506,497 units valued at $3,571,606,905 changing hands, compared to 117,820,162 units valued at $2,898,097,993 changing hands on Wednesday when JMMB Group dominated trading with 102,542,622 units and 87.03 percent of the day’s volume.
to $72, with 2,000 stock units changing hands, NCB Financial Group climbed $3 and ended trading of 572,945 shares at $121,