Trading activity remains low on the US dollar market of the Jamaica Stock Exchange on Tuesday, with 80 percent fewer shares passing through the market than on Monday.
At the close of the market, trading ended with three securities changing hands compared to two on Monday with the prices of no stocks rising, one declining and two remaining unchanged.
The JSE USD Equities Index dropped by 0.68 points to 186.82 and with the average PE Ratio ending at 12.9 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 45,626 shares, accounting for US$8,475 compared to 227,627 units at US$12,219 on Monday. The day’s average trade of 15,209 units changed hands at US$2,825, in contrast to an average of 113,814 shares at US$6,110 on Monday. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 
two stocks ending with bids higher than their last selling prices and none with lower offers.
At the close of the market, Proven Investments declined by 0.08 of a US cent to close at 24 US cents, with 21,500 stock units changing hands. Sygnus Credit Investments lost two-tenths of a cent to close at 13.65 US cents as investors swapped 23,626 shares and Transjamaican Highway eked out a rise of 0.01 of a cent and closed at 0.91 of a US cent in exchanging 500 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
During the past week, companies continued the release of midyear results, with little impact on the market. Jamaica Broilers released decent first-quarter results to the end of July, with a slight improvement in after-tax profit, with operating profit rising 25 percent on lower revenues. Wisynco Group full-year audited financials showed modest gains in profit while Blue Power profits jumped 41 percent. Of the three, only Jamaica Broilers is in the TOP 10. At the close of the week, Medical Disposables dropped out of the Junior Market listing and replaced by Jetcon Corporation. NCB Financial returns to TOP 10 and now sits at the bottom of the list, having replaced Eppley.
Caribbean Producers heads the list, followed by Lasco Financial and Elite Diagnostic, the focus on all three is on the 2021 fiscal year results, projected to show recovery from the 2020 financial year final numbers. The top three Main Market stocks, with expected gains of 205 to 264 percent, are Berger Paints followed by Radio Jamaica and JMMB Group, all three suffered declines during the week.
The average projected gain for the Junior Market IC TOP 10 stocks is 291 percent, and 161 percent for the JSE Main Market, based on 2020-21 earnings, an indication of potentially greater gains in the Junior Market than in the Main Market.
At the close of the market, trading ended with six securities changing hands compared to three on Wednesday and concluded with the prices of four stocks rising, one declining and one remaining unchanged.
Proven Investments climbed 0.79 of a cent in closing at 24.8 US cents with 1,024,551 stocks changing hands. Sygnus Credit Investments climbed half of a US cent to close at 13.5 US cents with 200 shares traded and Transjamaican Highway rose 0.09 of a cent to settle at nine-tenths of a US cent with 10,000 stocks crossing the exchange.
At the close of the market, trading ended with three securities changing hands compared to five on Tuesday and ended with the price of one stock rising and the prices of two declining.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ended with bids higher than their last selling prices and one with lower offers.
At the close of the market, trading ended with five securities changing hands compared to six on Monday and closed with the prices of two stocks rising, two declining and one remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows three stocks ended with bids higher than their last selling prices and one with lower offers.
At the close of the market, trading ended with six securities changing hands compared to four on Friday and ended with the prices of one stock rising, four declining and one remaining unchanged.
At the close of the market, First Rock Capital Investment lost 0.45 of a cent to close at 8.5 US cents in trading 750 units, Productive Business Solutions remained at 70 US cents finishing, with 30 shares changing hands. Proven Investments lost one-tenth of a cent and settled at 24.75 US cents, with investors swapping ownership of 2,612 shares. Sygnus Credit Investments dropped 1 US cent in closing at 13 US cents and clearing the market with 135,477 shares and Transjamaican Highway gained six-tenths of a cent and settled at 0.09 of a US cent in an exchange of 3,000 stocks.
The fall elevating it back into the Junior Market TOP 10, with Lasco Distributors dropping out, while there was no change to the main market list.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results, from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level, an indication of the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15 and the Junior Market 10.6, based on IC Insider.com’s projected 2020-21 earnings. 
The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere six at just 56 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.1 or 54 percent of the PE of the overall market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on possible 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 will result in movements of the selection in and out of the lists for most weeks. Revisions to earnings per share are ongoing, based on receipt of new information.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, trading ended with seven securities changing hands compared to five on Wednesday and ended with the prices of two stocks rising, two declining and three remaining unchanged.
At the close of the market, First Rock Capital Investment lost four-tenths of a cent to close at 8.5 US cents in clearing the market, with 297 stocks, Proven Investments gained 1.3 US cents to end at 24.85 US cents, with 106 stocks changing hands, Sterling Investments ended at 2 US cents and clearing the market with 10,000 stocks. Sygnus Credit Investments ended at 14.99 US cents from 15 US cents, with 7,000 shares changing hands and Transjamaican Highway gained 0.13 of a cent to at 0.97 US cent, with investors swapping 344,744 stocks.
Sterling Investments carved out a loss half a US cent in closing at 2.2 US cents in an exchange of 59,500 units. Sygnus Credit Investments remained at 15 US cents, with 350 stocks changing hands and Transjamaican Highway slipped from 0.85 cent to 0.84 of a US cent in exchanging 250,000 stocks.