Trading ended on Thursday with six securities changing hands, compared to five on Wednesday, with 49 percent fewer shares changing hands than on Wednesday, on the US dollar market of the Jamaica Stock Exchange.
Trading closed, with two stocks rising, one declining and three remaining unchanged and the JSE USD Equity Index slipped 0.01 point to 209.84. The average PE Ratio ends at 13.7 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 445,605 shares traded for US$47,147 compared to 867,888 units at US$29,201 on Wednesday.
Trading averaged 74,268 units at US$7,858, in contrast to 173,578 shares at US$5,840 on Wednesday. Trading averaged 77,369 units for the month to date at US$6,260 in contrast to 77,611 units at US$6,136 on Wednesday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Capital traded 2,182 shares at 9 US cents, Margaritaville ended at 9 US cents with 6,993 shares clearing the market, Proven Investments rose 1.4 cents to close at 26 US cents in exchanging 36,634 shares. Sygnus Credit Investments fell 1 cent to close at 14 US cents trading 171,046 stock units and Transjamaican Highway rose 0.05 of a cent to end at 0.95 US cents with an exchange of 223,750 stocks.
In the preference segment, JMMB Group 5.75% closed at US$2.05 with an exchange of 5,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady trading on JSE USD market
Stocks up 13% in 2021 on JSE USD market
Trading ended on Wednesday with the market rising after 75 percent more shares were exchanged, with 67 percent fall in value compared to Tuesday, on the US dollar market of the Jamaica Stock Exchange, resulting in five stocks changing hands, compared to six on Tuesday with prices of two rising, none declining and three remaining unchanged.
The JSE USD Equity Index gained 2.92 points to end at 209.85 to be up 12.6 percent for the year to date.
The average PE Ratio based on ICInsider.com’s forecast for 2021-22 earnings ends at 12.6.
Overall, 867,888 shares traded for US$29,201 compared to 496,207 units at US$88,288 on Tuesday.
Trading averaged 173,578 units at US$5,840, in contrast to 82,701 shares at US$14,715 on Tuesday. Month to date trading averaged 77,611 units at US$6,136 in contrast to 70,946 units at US$6,156 on Tuesday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital gained 0.1 of a cent in closing at 9 US cents trading 139,414 shares, Proven Investments rose 0.1 of a cent to 24.6 US cents in exchanging 26,191 units, Sygnus Credit Investments closed at 15 US cents with 100 shares changing hands and Transjamaican Highway remained at 0.9 of a US cent with 698,683 stocks crossing the exchange.
In the preference segment, JMMB Group 6% ended at US$1.02 with 3,500 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD market
Trading remains subdued on Tuesday, with the market slipping after trading 11.4 percent fewer shares but with value climbing 78 percent above Monday, on the Jamaica Stock Exchange US dollar market, resulting in more stocks falling than rising.
Similar to Monday, six stocks traded on Tuesday, with prices of one rising, two declining and three remaining unchanged.
The JSE USD Equity Index lost 3.24 points to end at 206.93. The average PE Ratio ends at 12.6 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 496,207 shares traded at US$88,288 compared to 560,069 units at US$49,503 on Monday.
Trading averaged 82,701 units at US$14,715, in contrast to 93,345 shares at US$8,251 on Monday. Trading averaged 70,946 units for the month to date at US$6,156 compared to 69,878 units at US$5,378 on the prior trading day. March ended with an average of68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital closed at 8.9 US cents trading 6,590 shares, Proven Investments shed 1.49 cents to close at 24.5 US cents after 271,008 stocks crossed the market, Sterling Investments fell 0.04 of a cent to 2.01 US cents in trading 45,540 stock units. Sygnus Credit Investments gained 0.17 of a cent to close at 15 US cents trading 60,047 shares and Transjamaican Highway closed at 0.9 of a US cent in 108,080 shares crossing the market.
In the preference segment, JMMB Group 5.75% exchanged 4,942 stock units at US$2.05.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading mixed on JSE USD Market
Trading on Monday ended with the market having a slight bounce, with 183 percent more shares changing hands than on Friday, at the close of the Jamaica Stock Exchange US dollar market.
Six securities traded, similar to trading on Friday, with one rising, two declining and three remaining unchanged.
The JSE USD Equity Index gained 0.91 points to end at 210.17. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings ends, with an average of 12.7.
Overall, 560,069 shares traded at US$49,503 up from 198,146 units at US$28,556 on Friday.
Trading averaged 93,345 units at US$8,251, in contrast to 33,024 shares at US$4,759 on Friday. Trading month to date averaged 69,878 units for at US$5,378 in contrast to 67,531 units at US$5,091 on Friday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows three stocks closed with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital closed at 8.9 US cents after exchanging 419,000 stocks, Proven Investments gained 0.74 of a cent in closing at 25.99 US cents in an exchange of 45,594 units, Sterling Investments shed 0.1 of a cent to close at 2.05 US cents after exchanging 54,297 shares. Sygnus Credit Investments dropped 0.17 of a cent to close at 14.83 US cents in switching ownership of 1,080 units and Transjamaican Highway ended at 0.90 US cents after exchanging 40,000 stocks.
In the preference segment, Equityline Mortgage Investment preference shares settled at US$2 in exchanging 98 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Shake up in Junior Market ICTOP10
Trading in the past week saw the Junior Market continuing its bullish rise, to sit at a 14.5 months high, but the Main Market continues to consolidate, sitting well below last April’s peak, but technical signals suggest that this situation is going to end soon.
Increased buying came into the market for Caribbean Cream during the past week, but the price pulled back slightly at the close to $6.34 for the stock to return to the TOP 10 at the expense of Main Event that closed the week with an impressive gain of 36 percent as it closed at $4.74. There were no exits or additions to the Main market TOP 10. Additionally, the top three Junior Market stocks changed markedly, with only one from last week remaining in the top three.
Recent activity in Caribbean Cream’s stock comes against the background of a rising stock price from a low of $4.35 to $6.34 over the past month and seems to suggest that investors are anticipating positive news when the company releases full year results later this month. The board meets next week Friday to consider a dividend. The financials for the full year to February should be released in days after.
The main market continues to trade in a narrow channel and now shows signs that a break out is imminent. First quarter results start coming in the latter part of this month and will determine the short-term move. In this regard, watch Barita Investments, Caribbean Cement, Grace Kennedy, Jamaica Producers, NCB Financial, PanJam Investment and Sagior Group.
The top three stocks in the Junior Market at the end of the last week are Jetcon Corporation followed by Main Event and Elite Diagnostic, but the list has changed and is now headed by Stationery and Office Supplies, followed by Elite Diagnostic and Medical Disposables with the potential to gain between 286 to 317 percent. The top three Main Market stocks remain unchanged, but in a slightly different order, with Radio Jamaica in the number one spot, followed by VM Investments and PanJam Investment, with expected gains of 190 to 394 percent.
Knutsford Express
The Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. Added to the technical indicators is the limited supply of shares for some companies. One such is Caribbean Cream that currently has few offers on the board, the same goes for Elite Diagnostic, Stationery and Office Supplies, Lasco Financial, Main Event, ISP Financial, Cargo Handlers. In the Main Market, Berger Paints, Jamaica Producers and Radio Jamaica show limited supply in the market currently.
This week’s focus: Investors should key an eye on Consolidated Bakeries, Fosrich and Jamaica Producers, this week, all three stocks have very low supplies on offer currently. Lasco Manufacturing has a large volume on the bid at $4.50 at the close on Friday and should also be watched. Knutsford Express is not in our TOP 10, but the latest results show that a turnaround has started with the February quarter showing a moderate loss of a mere $1.7 million from sales that fell 42 percent from $318 million to $185 million. 
The results show a marked improvement over November when revenues fell from $283 million to $149 million with a loss of $34 million. The results for the latest quarter supports ICInsider.com’s forecast for the company to return to profit for the 2022 fiscal year.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. For reference, fiscal 2020-21 average PE ended at 17 for Junior Stocks and 19 times for the Main Market at the end of March 2021. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.4 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17. The Junior Market Top 10 stocks average a mere 5.8 at just 46 percent of the market average, indicating strong gains ahead. 
The JSE Main Market ended the week with an overall PE of 15.4, some distance from the 19 the market ended March at. The Main Market TOP 10 trades at a PE of 7.3 or 48 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 252 percent and 185 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Big surge in trading on the USD market
Trading picked up on Thursday 1,119 percent more shares than on Wednesday, resulting from an exchange of 1,746,755 shares with a value of US$158,764 up from 143,305 units at US$21,406 on Wednesday on the US dollar market of the Jamaica Stock Exchange.
Seven securities traded, compared to five on Wednesday, with prices of three rising, one declining and three remaining unchanged.
The JSE USD Equity Index lost 2.77 points to end at 205.51. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings averages 12.7.
Thursday’s trading averaged 249,536 units at US$22,681, compared to 28,661 shares at US$4,281 on Wednesday. Trading month to date averages 71,365 units at US$5,128 compared to 44,829 units at US$2,514 on Wednesday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with bids higher than their last selling prices and two with lower offers.
At the close, First Rock Capital increased 0.05 of a cent to end at 8.9 US cents in an exchange of 23,212 shares, 
Margaritaville ended at 9 US cents in exchanging 3,762 units, Proven Investments advanced 0.5 of one cent in closing at 25.5 US cents with the swapping of 526,688 units, following an announcement that the company is acquiring yet another company. Sterling Investments declined 0.24 cents to end at 2.05 US cents, with 14,632 stock units changing hands, Sygnus Credit Investments increased 1 US cent to close at 15 US cents after trading 102,502 shares and Transjamaican Highway settled at 0.92 of one US cents trading 1,075,935 units.
In the preference segment, Equityline Mortgage Investment preference share settled at US$2 in an exchange of 24 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD market slips back
Trading ended on Wednesday, with the market slipping mildly after trading eight percent fewer shares than on Tuesday, resulting in more stocks falling than rising at the close of the US dollar market of the Jamaica Stock Exchange.
Five securities traded, down from seven on Tuesday, with one rising, three declining and one trading unchanged.
The JSE USD Equity Index lost 1.69 points to end at 208.28. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings averages 12.7.
Overall, 143,305 shares traded, for US$21,406, down from 155,664 units at US$24,831 on Tuesday.
Trading averaged 28,661 units at US$4,281, from 22,238 shares at US$3,547 on Tuesday. Trading month to date averaged 44,829 units at US$2,514 versus 46,753 units at US$2,303 on Tuesday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital lost 0.05 of a cent to close at 8.85 US cents trading 2,440 shares, Proven Investments ended at 25 US cents, as 30,000 units crossed the market, Sterling Investments gained 0.22 of a cent to end at 2.29 US cents with the swapping of 15,367 shares. Sygnus Credit Investments lost 0.01 of a cent to close at 14 US cents with an exchange of 95,198 stock units and Transjamaican Highway shed 0.04 of a cent in ending at 0.92 of a US cent, with 300 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dips on the JSE USD market
Trading on Tuesday ended with the market rising moderately after trading 55 percent fewer shares than on Monday, at the close of the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising.
Seven securities changed hands, compared to six on Monday, with one rising, three declining and three closing unchanged.
The JSE USD Equity Index gained 1.32 points to end at 209.97. The average PE Ratio closed at 12.7 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 155,664 shares traded for US$24,831 versus 345,477 units at US$9,126 on Monday.
Trading averaged 22,238 units at US$3,547, in contrast to 57,580 shares at US$1,521 on Monday. Trading month to date averages 46,753 units at US$2,303 in contrast to 51,657 units at US$2,054 on Monday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with a higher bid than the last selling price and one with a lower offer.
At the close, First Rock Capital traded 39,486 shares in closing at 8.9 US cents, Margaritaville finished at 9 US cents in exchanging 2,866 stock units, Proven Investments fell 0.1 of a cent to 25 US cents with the swapping of 44,630 units. Sterling Investments shed 0.22 of a cent to close at 2.07 US cents while exchanging 13,942 shares, Sygnus Credit Investments fell 0.99 of a cent to 14.01 US cents while exchanging 32,350 stock units and Transjamaican Highway rose 0.11 of a cent to 0.96 of a US cent after exchanging 20,020 stocks.
In the preference segment, JMMB Group 5.75% closed at US$2.05 after trading 2,370 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD stocks mostly fall
Trading picked up with a 231 percent rise in the volume of shares on Monday than on Friday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising, but the market index still manages to squeeze out a narrow gain.
Trading ended with six securities changing hands, compared to five on Friday with prices of two stocks rising, four declining and none remaining unchanged.
The JSE USD Equity Index gained 1.25 points to end at 208.65. The average PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings, ended at 12.7.
Overall, 345,477 shares traded, for US$9,126 compared to 104,433 units at US$1,085 on Friday.
Trading averaged 57,580 units at US$1,521, in contrast to 20,887 shares at US$217 on Friday. Trading month to date averages 51,657 units at US$2,054 versus 50,431 units at US$2,165 on Friday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital gained 0.05 of a cent to close at 8.9 US cents in switching ownership of 839 shares, Margaritaville fell 1 cent to 9 US cents after trading 3,975 units, Proven Investments declined by 0.4 of a cent to end at 25.1 US cents, with 9,555 stock units changing hands. Sterling Investments lost 0.01 of a cent in ending at 2.29 US cents with an exchange of 2,348 units, Sygnus Credit Investments rose 0.05 of a cent to 15 US cents after trading 23,723 shares and Transjamaican Highway lost 0.1 of a cent in closing at 0.85 US cents after exchanging 305,037 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
IC TOP10 gaining from rising Junior Market
Trading in a week cut short by the Easter Monday public holiday and half a day on Friday saw the Junior Market continuing its bullish rise, to sit just a few points below the January 2020 close, but the Main Market continues to consolidate, sitting well below last April peak and even worse, the February level of over 500,000 points.
Caribbean Cream
The past week saw Caribbean Cream finally moved higher, with supplies of the stock drying up at lower levels and few stocks currently on offer, with investors anticipating positive news when the company releases full year results later this month or early in May. The stock dropped out of the Top 10 and now sits at the 11th spot and should have more juice to move much higher, but it will depend on results due in a few weeks’ time.
General Accident moved up to fill the spot left vacant by Caribbean Cream. The main market continues to trade in a narrow channel and shows no sign of a breakout. First quarter results start coming in the latter part of this month and will determine the short-term move. In this regard, watch Barita Investments, Caribbean Cement, Grace Kennedy, NCB Financial, PanJam Investment and Sagior Group.
The top three stocks in the Junior Market at the end of the week are now Jetcon Corporation, followed by Main Event and Elite Diagnostic, with the potential to gain between 275 to 305 percent. The top three Main Market stocks remain unchanged, with Radio Jamaica in the number one spot, with the price moving from $1.48 last week to $1.61, followed by PanJam and VM Investments, with expected gains of 178 to 397 percent.
The Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. Added to the technical indicators is limited supply of shares for some companies. One such is Caribbean Cream that currently has few offers on the board, the same goes for Elite Diagnostic, Stationery and Office Supplies, Lasco Financial Main Event, ISP Financial, Cargo Handlers. In the Main Market, it’s Radio Jamaica and Berger Paints.
The targeted PE ratio averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. For reference, fiscal 2020-21 average PE ended at 17 for Junior Stocks and 19 times for the Main Market at the end of March 2021. 
With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.3 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17. The Junior Market Top 10 stocks average a mere 5.7 at just 47 percent of the market average, indicating strong gains ahead. The JSE Main Market ended the week with an overall PE of 15, some distance from the 19 the market ended March at. The Main Market TOP 10 trades at a PE of 7.4 or 50 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 251 percent and 181 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.