Market activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded declining 16 percent and the value falling 70 percent from that of Wednesday, as rising stocks exceeded those declining.
The All Jamaican Composite Index shed 432.05 points to end at 458,389.92, the JSE Main Index fell 920.97 points to close at 400,504.59 and the JSE Financial Index fell 0.62 points to settle at 93.42.
Trading ended with 58 securities the same as Wednesday, with 24 rising, 22 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.3. 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, 9,854,877 shares traded for $117,634,469 versus 11,782,128 units at $388,157,374 on Wednesday. Transjamaican Highway led trading with 1.63 million shares for 16.6 percent of total volume, followed by Wigton Windfarm with 1.52 million units for 15.4 percent of the day’s trade, Wisynco Group ended with 1.21 million units for 12.3 percent of market share and Sagicor Select Financial Fund with 1.05 million units for 10.7 percent market share.
Trading averages 169,912 units at $2,028,180, compared to 203,140 shares at $6,692,369 on Wednesday and month to date, an average of 223,359 units at $4,225,558, compared to 241,597 units at $4,975,252 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Berger Paints rose 50 cents to end at $10.50, with 6,364 shares crossing the market, Eppley gained $1.95 to close at $42.10 after exchanging 545 stock units, Eppley Caribbean Property Fund lost $3.50 in ending at $45 after trading 553 stocks. First Rock Capital climbed $1.58 in closing at $13.23 while exchanging 15,054 units, GraceKennedy dropped 50 cents to $110.50, with 192,130 shares changing hands, Guardian Holdings increased $15.15 in closing at $531 in exchanging 1,874 units. Jamaica Broilers shed 90 cents to end at $28.10 with the swapping of 27,361 stock units, Jamaica Stock Exchange advanced $1.70 to close at $23.95 with an exchange of 125,272 stocks, Margaritaville popped 90 cents to $21 after exchanging 2,000 stock units. Mayberry Investments fell 43 cents after finishing at $8.82 with 8,303 shares changing hands, Mayberry Jamaican Equities rallied 79 cents to end at $12.19 after 157,430 units crossed the market, NCB Financial advanced $2.10 to $108.50 in trading 31,069 stocks. PanJam Investment declined $1.55 to close at $64.50 with the swapping of 73,167 stock units, Portland JSX shed $1 in closing at $11, with 675 shares crossing the exchange, Proven Investments lost 49 cents in ending at $37.50 after switching ownership of 37,192 units.
Salada Foods gained 70 cents to $6.50, with 5,865 stocks clearing the market, Scotia Group rallied 45 cents to $35.45 in an exchange of 8,941 stock units, Seprod rose $10.05 to end at $73.05 after exchanging 124,121 stocks up to a 52 weeks’ intraday high of S80.57. Supreme Ventures dropped 50 cents in closing at $29.50, trading 229,819 shares and Wisynco Group climbed $1.80 to close at a 52 weeks’ high of $26 with 1,210,656 units changing hands.
In the preference segment, Eppley 7.50% preference share fell $1.70 in closing at $6 while exchanging 55,741 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Former ICTOP10 stock jumps 130%
The star performer for the week was iCreate, up 132 percent and Supreme Ventures, with a 30 percent price movement in the market during the week, but several ICTOP10 stocks had some noted moves as well.

iCreate hits a low of 80 cents on Thursday.
iCreate, more than doubled, surging from the previous week’s $1.36 close to $3.16. The move coincides primarily with two acquisition announcements with little or no information given as to the cost and funding, leading to wild speculation in the stock. Supreme Ventures (SVL) stock jumped to a 52 weeks’ high of $33.41 from $24.49 at the end of the previous week. The SVL was more solidly based as the company reported solid increased profits for the March quarter as investors pushed the price sharply higher in response.
There are two changes to this week’s ICTOP10 listing. Lasco Distributors returns to the Junior Market TOP10 as Stationery and Office Supplies slipped out. The latter rose 15 percent to close the week at $9.11. The expectations are that the company will have blowout first quarter results, helped by school opening and following a strong 2021 fourth quarter. The Main Market welcomed back Jamaica Stock Exchange share that will benefit from an upsurge in trading activity in the first quarter as Scotia Group fell out, still looking attractively priced at $35.20, with Bank of Jamaica increasing interest rates is positively impacting the results.
The Junior Market ended with three stocks rising from 8 to 15 percent. Caribbean Assurance Brokers climbed 10 percent for the week while Jetcon Corporation rose 8 percent to close at $1.40. Declining were Lasco Financial, down 8 percent and Access Financial and AMG Packaging, down 5 percent, as buying eased markedly following improved results released at the close of the market ahead of the Easter weekend. Investors seem not to be factoring in cost savings and increased efficiency that the newly installed machine brings to the business following the close of the recent quarter. With a 5 percent rise, Guardian Holdings was the biggest mover in the Main Market.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.8, while the Junior Market PE for the Top 10 sits at 6 versus the market at 13.8. The Junior Market TOP10 is projected to gain an average of 249 percent by May 2023 and the Main Market 200 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. They 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.
SVL profit for Q1 surges 68%
Gaming company Supreme Ventures posted a net profit of $1 billion for the 2022 first quarter to March, an increase of $400 million or 68 percent compared to the first quarter in 2021, resulting from Gaming income climbing just 18.7 percent to $12.7 billion, compared to $10.7 billion generated in the corresponding period in 2021.
“This huge uplift in profitability for the three months is a result of several factors including the hugely successful re-introduction of the popular Instants “Scratchaz” game and our successful implementation of significant cost-savings initiatives,” Gary Peart, Executive Chairman, stated in his report accompanying the results.
“Total gross ticket sales for the quarter was $27.7 billion, an increase of 164 percent over the corresponding period in 2021, as customers welcomed new initiatives that positively impacted their pockets during a difficult economic downturn,” Peart continued to state.
Direct expenses amounted to $9.8 billion and were $1.2 billion, or 13 percent, higher than the $8.7 billion incurred for the 2021 first quarter. Peart further reported that “with a continued focus on expense management, we have further invested in expanding the business as we prepare for the reopening of the economy and the expected upturn that will result. The increased cost resulted from the higher amounts paid to our key partners and regulators during the quarter.”
Gross profit for the quarter amounts to $2.9 billion, representing a rise of $864 million or 42.8 percent compared to the $2 billion pulled in during the first quarter of 2021.
Segment results show the Lotteries segment being the star performer in the group, accounting for nearly 93 percent of segment results in generating gaming income of $6 billion, a 31 percent increase of $1.4 billion in revenues, while segment results showed an increase of 82 percent to $1.2 billion from $630 million in 2021.

Supreme Ventures traded at a new high of $33.41 on Friday.
The Sports Betting segment reported $287 million and gaming income increased 16.6 percent by $490 million, to $3.5 billion, over the first quarter of 2021. PIN codes sales saw an increase of $116 million or 3.9 percent to $3 billion for the quarter, resulting in segment results of $85 million, almost doubling that earned in 2021.
Cash inflows from operations hauled in $1.65 billion, up from $1 billion in 2021, but mainly due to dividends paid amounting to $686 million, purchase of shares in a subsidiary and purchase of property and equipment, the company used up $935 million of the surplus at the end of December last year of $4.4 billion.
At the end of the period, Shareholders’ Equity stood at $4.55 billion and was augmented by borrowing $6 billion in long term loans and $443 million in short term funding. Current Assets ended the quarter at $7.6 billion, up from $7.1 in the previous year’s first quarter. Current Liabilities stood at $5.7 billion compared to $3.7 billion at the end of 2021 first quarter. Cash funds and short term investments ended the period at $3.4 billion, down from $5 billion in 2021. Net current assets deteriorated over the past year ending at $1.9 billion compared to $3.45 in March last year.
Earnings per share for the quarter is 37.79 cents, up 68 percent over the EPS in 2021 of 22.46 cents, if the trend continues, earnings for the full year should hit the $1.60 mark for the year with a PE of 20 at Friday’s closing price of $32. The company will pay a dividend of 34.01 cents per share on May 20.
The All Jamaican Composite Index dropped 305.20 points to 456,528.96, the JSE Main Index slipped 256.16 points to 399,793.50 and the JSE Financial Index dipped 0.06 points to settle at 94.66.
At the close, Berger Paints lost 60 cents in closing at $11, trading 32,665 shares, Caribbean Cement dropped $3.95 to $67.15 while exchanging 31,080 units, First Rock Capital rallied $1.01 to close at $13.26 with an exchange of 26,604 stock units. GraceKennedy fell $1.95 to end at $107, with 764,383 stocks crossing the market, Jamaica Producers shed $1.45 in ending at $22.30 after an exchange of 56,875 stock units, JMMB Group declined 40 cents to $45.40 in switching ownership of 156,172 units, Kingston Wharves gained $4.50 in closing at $38.50 after 153,896 stocks crossed the exchange, Margaritaville declined $5.40 to $20.10 after exchanging 3,681 shares, Mayberry Jamaican Equities lost 60 cents to $11.40 in trading 245,372 shares. MPC Caribbean Clean Energy fell $8.75 to close at $102 in exchanging 199 stocks, NCB Financial popped $3.85 to $114.10 with 20,685 units clearing the market, Palace Amusement rose $95 to close at $1015 after finishing trading of 422 stock units. Portland JSX shed 40 cents in closing at $12 with the swapping of 69 units, Proven Investments advanced 88 cents to $37 and closed trading of 55,512 shares, Sagicor Group increased 48 cents to end at $57.97 after exchanging 130,033 stock units. Salada Foods dropped $1 to end at $5.69, with 45,609 stocks changing hands, Scotia Group climbed 33 cents to $36.13, with 241,414 shares crossing the market, Seprod shed $3.50 in closing at $58.30 in an exchange of 12,315 stock units.
Sygnus Credit Investments declined 50 cents to $16.50 in exchanging 236,881 stocks, Sygnus Real Estate Finance rose $2.94 to close at $18.05 in switching ownership of 5,482 units, Wisynco Group increased 35 cents, ending at a 52 weeks’ high of $24.85 while exchanging 77,458 units.
Trading averages 298,683 units at $5,469,921 compared to 266,813 shares at $7,163,958 on Friday. April closed with an average of 532,209 units at $5,709,319.
Salada Foods increased 59 cents in a finish at $6.69 after 192,342 shares crossed the exchange, Scotia Group shed 40 cents to end at $35.80 with an exchange of 29,148 stocks. Supreme Ventures rallied $1 to $28.50, trading 523,606 units, Sygnus Credit Investments advanced 52 cents to close at $17 with the swapping of 164,871 stocks, Sygnus Real Estate Finance declined $1.19 in ending at $15.11 after switching ownership of 1,346 stock units and Wisynco Group rallied $1.50 in closing at $24.50 in an exchange of 106,590 shares.
The All Jamaican Composite Index rose 608.23 points to end at 459,174.28, the JSE Main Index gained 658.02 points to close at 401,858.38 and the JSE Financial Index added 0.36 points to settle at 94.68.
At the close, Caribbean Cement climbed $4.18 after ending at $75.18 with the swapping of 90,129 shares
The All Jamaican Composite Index rose 2,293.01 points to 458,821.97, the JSE Main Index rallied 1,632.06 points to end at 401,425.56 and the JSE Financial Index lost 0.62 points to settle at 94.04.
At the close, Berger Paints fell $1 in ending at $10 after exchanging 22,941 shares, Caribbean Cement rose $2.56 in closing at $69.71, with 2,840 stocks clearing the market, Caribbean Producers shed 42 cents to close at $18.06 after 245,495 units crossed the market. Eppley declined $2.35 to end at $40.15, with 24 stock units changing hands, Eppley Caribbean Property Fund gained $1.50 to close at $48.50, with an exchange of 3,852 stocks, First Rock Capital dropped $1.61 to close at $11.65 with the swapping of 62,868 stock units. GraceKennedy increased $4 in ending at $111 after 15,712 units changed hands, Guardian Holdings lost $4.20 to $515.85 after exchanging 1,501 shares, Jamaica Producers rose $1.65 in closing at $23.95, with 18,035 stocks crossing the market. Jamaica Stock Exchange lost $1.15 to end at $22.25 in exchanging 25,044 units, JMMB Group climbed $2.50 to $47.90 while exchanging 122,925 stock units, Kingston Wharves popped $1.50 to close at $40 in switching ownership of 5,583 shares. Massy Holdings fell 30 cents to $98.70 in trading 3,935 units, Mayberry Investments rallied 50 cents to $9.25 in an exchange of 160,607 shares, MPC Caribbean Clean Energy dropped $1 in closing at $101 after trading 500 stocks. NCB Financial declined $7.70 to end at $106.40 after trading 33,801 stock units, Palace Amusement shed $14.83 to $1000.17, with 33 shares crossing the exchange, Proven Investments advanced 99 cents to close at $37.99, with 30,660 stock units crossing the exchange.
Sagicor Group shed 97 cents in closing at $57 after trading 12,371 units, Scotia Group declined $1.13 to $35 trading 48,867 stocks, Seprod rose $4.70 to $63 in an exchange of 44,160 stocks before the release that the company is to acquire
The All Jamaican Composite Index popped 1,335.55 points to 455,179.03, the JSE Main Index added 2,893.91 points to close at 398,414.13 and the JSE Financial Index rallied 0.08 points to settle at 93.85.
At the close, Caribbean Cement rose $1 to $71, with 20,051 shares crossing the exchange, Carreras advanced 30 cents to $9.70 in switching ownership of 102,998 stocks, Eppley Caribbean Property Fund gained $2.50 to close at $47, with 395 stock units crossing the market. GraceKennedy increased $6.86 to end at a 52 weeks’ closing high of $111.88 with 79,927 units changing hands, Guardian Holdings climbed $15 in closing at $535 in an exchange of 86 stocks, Jamaica Broilers fell 58 cents to close at $27.92, with 96,395 units clearing the market. Jamaica Producers declined 90 cents to $22 while exchanging 86,290 shares, JMMB Group rallied $1.78 in closing at $47.96 after 157,286 stock units changed hands, Kingston Wharves popped $1.13 to $40.15 to close as 3,374 stock units passed through the exchange. Margaritaville dropped 40 cents to end at $25 with the swapping of 80 stocks, Mayberry Investments lost 41 cents in ending at $8 after exchanging 75,941 units, Mayberry Jamaican Equities shed 40 cents to close at $11.60 with an exchange of 377,042 shares. MPC Caribbean Clean Energy declined $4 to end at $111, trading 17 units, Palace Amusement popped $20 to $940 in trading five shares, PanJam Investment shed 70 cents in closing at $64.30 in exchanging 1,101 stocks.
Portland JSX dropped 99 cents to $11 after exchanging 1,325 stock units, Proven Investments lost $1.78 in ending at $36 and trading 6,383 shares, Seprod fell 98 cents to end at $59.02 in switching ownership of 53,166 stock units. Supreme Ventures declined $2.50 in closing at $27 with the swapping of 339,249 units, Sygnus Credit Investments shed 38 cents to close at $15.62, with 121,541 stocks crossing the market, Sygnus Real Estate Finance gained 30 cents in ending at $16 and trading 400 shares and Wisynco Group lost 93 cents to close at $23.50 in exchanging 134,531 units.
At the close, Berger Paints climbed 34 cents in closing at $11.90 after 42,428 shares crossed the market, Caribbean Cement popped 30 cents to $70 in trading 35,496 stock units, Caribbean Producers dropped 57 cents to end at $17.91, with 374,412 units clearing the market. Eppley advanced $4.79 to $42.79 in switching ownership of 519 stocks, Eppley Caribbean Property Fund rose $2.50 to close at $44.50 after exchanging 1,841 stock units, First Rock Capital rallied 84 cents in ending at $12.49 after 920 stocks changed hands. GraceKennedy gained 94 cents to close at $105.02 after hitting an intraday 52 weeks’ high of %115, in an exchange of 564,310 units, Guardian Holdings increased $20 to end at $520 with 4 shares changing hands, Jamaica Producers advanced $1.40 in closing at $22.90, in an exchange of 6,544 stocks. Jamaica Stock Exchange popped $2.79 to $22.99 in trading 14,390 units, Key Insurance rose 40 cents to $4.90, with 2,032 shares crossing the exchange, Kingston Properties rallied 80 cents to end at $8.30, trading 17,220 stock units. NCB Financial shed $1 to close at $113 while exchanging 10,792 stocks, PanJam Investment climbed $1 in closing at $65 with the swapping of 12,153 shares, but only after trading at an intraday low of $60. Portland JSX gained 99 cents ending at 52 weeks’ high of $11.99 after trading 16,976 units.
Proven Investments increased 78 cents to $37.78, with 32,813 stock units changing hands, Pulse Investments lost 33 cents at $3.83, with 1,608,039 shares crossing the market, Scotia Group advanced $1.09 in closing at $35.99 with the swapping of 14,538 stocks. Seprod declined $1.30 to close at $60 while exchanging 19,204 stock units, Sygnus Credit Investments climbed $1 to end at $16, 559,203 units crossing the market, Sygnus Real Estate Finance fell 40 cents in ending at $15.70 after exchanging 8,400 stocks and Wisynco Group rose 43 cents to end at 52 weeks’ high of $24.43, with 389,223 stock units crossing the market.
The All Jamaican Composite Index rose 77.65 points to 457,532.39, the JSE Main Index skidded 2,186.81 points to 399,554.57 and the JSE Financial Index declined 0.79 points to settle at 93.63.
At the close of the market, Caribbean Cement declined $1.30 to $69.70 in an exchange of 36,677 shares, Eppley dropped $4.75 to close at $38 after exchanging 3,280 stock units, Eppley Caribbean Property Fund fell $3 to end at $42 with the swapping of 3,478 units. First Rock Capital shed 64 cents to close at $11.65 in switching ownership of 18,984 stocks, GraceKennedy lost $1.09 after ending at $104.08 after 850,418 units crossed the market, Guardian Holdings shed $45 to close at a 52 weeks’ low of $500 in trading 41,380 stocks. Jamaica Producers fell $1.50 in closing at $21.50, with 39,313 stock units crossing the exchange, Jamaica Stock Exchange lost $1.80 in ending at $20.20 while exchanging 23,033 shares, Kingston Properties dropped 30 cents to $7.50 after exchanging 82,311 stock units. Kingston Wharves declined $1 to end at $39 in trading 8,542 units, Mayberry Investments fell 50 cents to end at $8.50, with 135,684 stocks crossing the market, Mayberry Jamaican Equities dropped 45 cents in closing at $12 and trading 52,157 shares. NCB Financial declined $2 to close at $114 with an exchange of 43,690 shares, 1834 Investments, fresh after the announcement of a proposed scheme of arrangements between themselves and Radio Jamaica traded 511,310 after the price jumped 28 cents to a 52 weeks’ high of $1.13, Palace Amusement lost $80 to end at $920, with 139 units clearing the market, PanJam Investment shed $1.01 in ending at $64 in exchanging 13,857 stock units.
Proven Investments fell 82 cents to close at $37, with 31,375 stocks changing hands, Radio Jamaica rallied 43 cents to $3.19 after trading 2,867,013 stocks, following the announcement of a proposed scheme of arrangements between themselves and 1834 Investments that will see RJR absorbing the assets and liabilities of 1834. Salada Foods popped 34 cents ending at $6.42 while exchanging 155 units. Scotia Group shed 30 cents to end at $34.90 after 104,230 stock units crossed the exchange, Seprod lost 50 cents to end at $61.30 trading 1,170 shares and Supreme Ventures dropped $2.45 to end at $29.55 after exchanging 462,521 stock units.