Trading on Friday ended with the market declining after trading 45 percent fewer shares than on Thursday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising.
Trading ended with five securities changing hands, compared to seven on Thursday and ended with the prices of one stock rising, three declining and one remaining unchanged.
The JSE USD Equity Index lost 2 points to end at 203.28. The average PE Ratio ends at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading closed with an exchange of 282,032 shares, for US$65,501 compared to 515,824 units at US$142,671 on Thursday.
Trading averaged 56,406 units at US$13,100, versus 73,689 shares at US$20,382 on Thursday. Trading averaged 69,425 units for the month to date at US$14,402 in contrast to 70,045 units at US$14,464 on the prior trading day. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ended with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital fell 0.4 of a cent to 8.5 US cents trading 11,123 shares, Proven Investments dipped 0.11 of a cent to 24.99 US cents, with 247,644 stock units clearing the market, Sterling Investments lost 0.01 of a cent in ending at 1.98 US cents in an exchange of 308 stock units and Sygnus Credit Investments advanced 0.3 of one cent to 14.5 US cents with 22,859 stocks changing hands.
In the preference segment, Equityline Mortgage Investment preference share remained at US$2 in 98 stocks switching ownership.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks lose ground on JSE USD market
Gains for JSE USD stocks on Wednesday
Trading on Thursday ended with the market index rising after trading 70 percent fewer shares than on Wednesday, resulting in four stocks rising, one declining and two ending unchanged as seven securities changed hands, compared to eight on Wednesday at the close of the US dollar market of the Jamaica Stock Exchange.
JSE USD Equity Index gained 2.48 points to end at 204.13. The average PE Ratio ends at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 515,824 shares trading for US$142,671 shares down from 1,709,808 units at US$372,565 on Wednesday.
Trading averaged 73,689 shares at US$20,382, down from 213,726 shares at US$46,571 on Wednesday. Trading month to date averages 70,045 units at US$14,464 close to 69,785 units at US$14,041 on Wednesday. February averaged 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Capital traded 471 stocks at 8.9 US cents, Margaritaville declined 0.1 of a cent to close at 9.9 US cents in trading 44,352 stock units, Proven Investments rose 0.1 of a cent to 25.1 US cents with 370,637 units crossing the exchange. 
Sterling Investments advanced 0.01 of a cent to end at 1.99 US cents while exchanging 10,733 stock units, Sygnus Credit Investments rose 0.2 of a cent to end at 14.2 US cents in an exchange of 15,433 stocks and Transjamaican Highway ended at 0.96 US cents in an exchange of 53,000 shares.
In the preference segment, JMMB Group 5.75% climbed 5 cents to US$2.05 with 21,198 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big jump in trading volume & value
The volume of stocks trading on Wednesday, jumped 689 percent over on Tuesday as the value traded surged 919 percent, on the Jamaica Stock Exchange US dollar market, resulting in more stocks rising than falling.
At the close, 1,709,808 shares traded, for US$372,565 compared to 216,610 units at US$36,569 on Tuesday.
Eight securities traded, down from nine on Tuesday with prices of three stocks rising, two declining and three remaining unchanged.
JSE USD Equity Index gained 0.40 points to end at 201.65. The average PE Ratio ends at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading averaged 213,726 units at US$46,571, up from 24,068 shares at US$4,063 on Tuesday. The average trade month to date is 69,785 units, at US$14,041 in contrast to 56,990 units at US$11,150 on Tuesday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close, First Rock Capital ended at 8.9 US cents in exchanging 112 shares, Margaritaville finished at 10 US cents, with 1,992 units changing hands, Proven Investments climbed 0.02 cents to 25 US cents after exchanging 1,325,417 units. 
Sterling Investments dipped 0.01 cent to 1.98 US cents swapping 3,000 units, Sygnus Credit Investments ended at 14 US cents trading 40,000 units and Transjamaican Highway carved out a gain of 0.07 cents to close at 0.96 US cents in an exchange of 322,789 units.
In the preference segment, Equityline Mortgage Investment preference share rose 4 cents to US$2 after exchanging 196 shares and JMMB Group 5.75% dropped 3 US cents to end at US$2 with 16,302 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Broadened trading on JSE USD market
Trading spread to nine stocks at the close of the JSE US market on Tuesday, up from five on Monday, leading the market to a mild gain at the close JSE USD Equity Index gained 2.01 points to end at 201.25 on the Jamaica Stock Exchange US dollar market.
Trading ended with nine securities changing hands, compared to five on Monday, with prices of two rising, four declining and three remaining unchanged. The average PE Ratio ends at 13.5 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed after trading 58 fewer shares than on Monday with an exchange of 216,610 shares, for US$36,569, down from 520,461 units at US$80,702 on Monday.
Trading averaged 24,068 units at US$4,063, in contrast to 104,092 shares at US$16,140 on Monday. Trading averaged 56,990 units for the month to date at US$11,150 in contrast to 60,648 units at US$11,937 on Monday. February ended with an average of 69,547 units for US$9,223.
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 traded 3,939 shares at 8.9 US cents, Margaritaville settled at 10 US cents after trading at 52 weeks’ intraday low of 9 cents and exchanging 968 shares, MPC Caribbean Clean Energy rose 1 US cents to US$1.10, with 500 shares changing hands. 
Proven Investments lost 0.01 of a cent to 24.98 US cents, with 10,059 units changing hands, Sterling Investments fell 0.01 of one cent to close at 1.99 US cents after exchanging 25,128 shares, Sygnus Credit Investments remained at 14 US cents in trading23,991 shares and Transjamaican Highway lost 0.01 of a cent to close at 0.89 US cents with an exchange of134,525 stock units.
In the preference segment, JMMB Group 5.75% gained 1 cent to close at US$2.03 in switching ownership of 10,000 units and JMMB Group 6% fell 8 cents to US$1.02 in trading7,500 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE USD market
Trading on Monday ended with the market rising after trading 45 percent more shares than on Friday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks rising than falling.
Trading ended with five securities changing hands, similar to Friday and ended with two rising and three trading unchanged. The JSE USD Equity Index gained 1.18 points to end at 198.38.
The average PE Ratio ends at 13.6 based on ICInsider.com’s forecast of 2020-21 earnings.
In total, 520,461 shares traded at US$80,702 compared to 358,713 units at US$24,581 on Friday.
Trading averaged 104,092 units at US$16,140, up from 71,743 shares at US$4,916 on Friday. Trading averaged 60,648 units for the month to date at US$11,937 in contrast to 57,790 units at US$11,661 on Friday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, First Rock Capital closed at 8.9 US cents while exchanging 19,012 shares, Margaritaville ended at 10 US cents with 6,500 stock units trading, Proven Investments gained 0.79 US cents in closing at 24.99 US cents in switching ownership of 220,030 units. Sygnus Credit Investments rose half a cent in closing at 14 US cents in 170,358 stock units changing hands and Transjamaican Highway stayed at 0.9 of one US cents in owners switching 104,561 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady market steadies IC TOP10
The JSE Main Market and Junior Market slipped to end the week marginally lower than the close of the previous week. Against the background, Berger Paints was the only stock moving out of the TOP10 as it made way for Sterling Investments.
Junior Market stocks kept above the 2,900 mark of the market index only slipping below that level just one day during the week, as the market continues to consolidate in the move higher. Main Market stocks made attempts to break clear of the consolidation zone but the market is awaiting some strong profit results to move prices and that will not come until late April.
The publication has stated that Junior Market TOP10 contains several companies that suffered a sharp reversal of revenues and profit in 2020, with recovery projected for them in 2021. Green shoots are showing for some with sales picking up in recent quarters with improving bottom-line. Some of these companies may require another quarter or two of improving fortunes before there is meaningful buying into them. Main Event is one such company and it reported a profit on reduced income for the January quarter with revenues climbing solidly in the latest quarter over the October and July quarters.
The Main Market has a number in the list that have put out record profits or show signs of strong earnings in 2021, with the stocks clearly undervalued, these include, JMMB Group, Jamaica Broilers, Sygnus Credit Investments and Grace Kennedy that are currently in the TOP10 Main Market listing and Caribbean Cement that is just outside.
Both the Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. To benefit from the growth in the market to come many investors will need to be on board at an early stage.
This week’s focus: Limners and Bards reported strong first quarter results with rising revenues and profit. Revenues grew a strong 36 percent over the 2020 period to $356 million with profit rising 36 percent to $67 million as cost of operations rising 38 percent over the 2020 period. The company nevertheless seems set to nearly doubling profit for the full year, with profit of $192 million and earnings per share of 20 cents.
The top three stocks in the Junior Market with the potential to gain between 292 to 312 percent are Main Event followed by Stationery and Office Supplies and Caribbean Producers. With expected gains of 181 to 433 percent, the top three Main Market stocks are, Radio Jamaica, followed by VM Investments and PanJam Investment.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, up to the second quarter of 2021. The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 15 and the Junior Market 10, based on ICInsider.com’s projected 2021-22 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 5.5 at just 55 percent of the market average. The Main Market TOP 10 stocks trade at a PE of 7.4 or 49 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 268 percent and 184 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.
Fall in JSE USD market index
Trading on Friday ended with the market declining after trading 49 percent more shares than on Thursday, on the US dollar market of the Jamaica Stock Exchange, with five securities changing hands, compared to six on Thursday, with prices of three stocks rising and two remaining unchanged.
The JSE USD Equity Index lost 1.77 points to end at 197.20. The average PE Ratio ends at 13.5 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 358,713 shares for US$24,581 compared to 241,189 units at US$56,263 on Thursday.
Trading averaged 71,743 units at US$4,916, versus 40,198 shares at US$9,377 on Thursday. Trading month to date averaged 57,790 units at US$11,661 in contrast to 56,808 units at US$12,136 on Thursday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows two stock ending with bids higher than its last selling price and none with lower offers.
At the close, First Rock Capital advanced 0.41 of one cent to 8.91 US cents with the swapping of 55,463 shares, Proven Investments rose 0.3 of a cent to 24.2 US cents after exchanging 70,979 stock units, Sterling Investments rose 0.02 of a cent to 2 US cents trading 12,994 shares. Sygnus Credit Investments closed at 13.5 US cents with an exchange of 7,153 units and Transjamaican Highway ended at 0.9 US cents in trading 212,124 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks mostly rose on the JSE USD market
Trading on Thursday, ended with the market rising after trading 24 fewer shares than on Wednesday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks rising than falling.
Similar to Wednesday, six securities traded, with prices of three rising, one declining and two closing unchanged.
JSE USD Equity Index gained 4.12 points to end at 198.97. The average PE Ratio ends at 13.4 based on ICInsider.com’s forecast of 2020-21 earnings.
A total of 241,189 shares traded, accounting for US$56,263, down from 318,044 units at US$63,528 on Wednesday.
Trading averaged 40,198 units at US$9,377, compared to 53,007 shares at US$10,588 on Wednesday. Trading averaged 56,808 units, month to date at US$12,136 in contrast to 58,341 units at US$12,390 on the prior trading day. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close, First Rock Capital slipped 0.01 US of a cent in ending at 8.49 US cents with the swapping of 536 units, 
Proven Investments increased 0.9 of one cent to close at 23.9 US cents, with 9,907 stock units crossing the market, Sterling Investments stayed at 1.98 US cents, with 135 stocks changing hands. Sygnus Credit Investments ended at 13.5 US cents after 77,054 shares crossed the market and Transjamaican Highway rose 0.04 of a cent to 0.9 US cents in exchanging 132,775 stocks.
In the preference segment, JMMB Group 5.75% carved out a gain of 2 cents to end at US$2.02 with an exchange of 20,782 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD stocks fall
Stocks mostly declined after trading volume climbed 391 percent with a 39 percent higher value on Wednesday than on Tuesday, at the close of the US dollar market of the Jamaica Stock Exchange.
Six securities changed hands, compared to five on Tuesday with no stock rising, five declining and one remaining unchanged.
The JSE USD Equity Index shed 5.34 points to end at 194.85. The average PE Ratio ends at 13.2 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 318,044 shares, for US$63,528 compared to 64,764 units at US$45,538 on Tuesday.
Trading averaged 53,007 units at US$10,588, up from 12,953 shares at US$9,108 on Tuesday. Trading month to date averaged 58,341 units at US$12,390, in contrast to 58,883 units at US$12,573 on Tuesday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than its last selling price and none with lower offers.
At the close, First Rock Capital closed at 8.5 US cents, with 16,255 stock units changing hands, Proven Investments declined 1 cent to close at 23 US cents after exchanging 257,232 shares, Sterling Investments fell 0.02 of a cent to 1.98 US cents with 7,700 units changing hands. Sygnus Credit Investments shed half a cent to 13.5 US cents after transferring 3,265 stocks and Transjamaican Highway declined 0.07 of a cent to close at 0.86 of a US cent trading 32,700 stock units.
In the preference segment, JMMB Group 6% fell 9 US cents to US$1.01 in switching ownership of 892 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Lower trading volume lower prices
Trading ended on Monday with the market declining after 69 percent fewer shares changed hands than on Friday, at the close of the Jamaican Stock Exchange US dollar market, resulting from five securities, compared to four on Friday with the prices of two declining and three closing unchanged.
The JSE USD Equity Index lost 1.03 points to end at 198.23. The average PE Ratio ends at 13.5 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 100,365 shares trading for US$21,913 from 323,494 units at US$44,951 on Friday.
Trading averaged 20,073 units at US$4,383 versus 80,874 shares at US$11,238 on Friday. Trading month to date averaged 63,136 units at US$12,894 versus 67,530 units at US$13,763 on the prior trading day. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and two with lower offers.
At the close, First Rock Capital traded 1,700 shares unchanged at 8.5 US cents, MPC Caribbean Clean Energy declined 6 cents to close at US$1.09, with 337 units crossing the exchange, Proven Investments fell 1 cent to 23 US cents, with 90,893 units changing hands. Sterling Investments ended at 2 US cents, with 6,735 stocks clearing the market and Sygnus Credit Investments settled at 14 US cents after finishing trading 700 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.