Market activity ended on Tuesday, with the volume of shares trading climbing 48 percent and the value of stocks traded marginally higher than on Monday on the Jamaica Stock Exchange Main Market as rising stocks just edged out those declining.
The All Jamaican Composite Index shed 3,613.87 points to settle at 434,722.20, the JSE Main Index declined 1,925.82 points to end at 385,639.89 and the JSE Financial Index slipped 0.83 points to 92.83.
Trading ended with 60 securities compared to 55 on Monday, with 22 rising, 21 declining and 17 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.8. The PE ratio for the JSE Main and USD Market closing quotes is based on ICInsider.com earnings forecasts for companies with financial years ending in August 2022.
Overall, 20,758,716 shares were exchanged for $260,240,162, up from 14,043,689 units at $254,824,567 on Monday. Transjamaican Highway led trading with 6.65 million shares for 32 percent of total volume, followed by JMMB Group 7.35% – 2028, with 2.83 million units for 13.6 percent of the day’s trade. Wigton Windfarm traded 2.04 million units for 9.8 percent market share, Pulse Investments ended with 1.85 million units for 8.9 percent market share and JMMB Group closed with 1.31 million units for 6.3 percent market share.
Trading on Tuesday averages 345,979 units at $4,337,336, versus 255,340 shares at $4,633,174 on Monday and month to date an average of 612,243 units at $7,121,049, compared to 627,343 units at $7,278,916 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
Investor’s Choice bid-offer indicator shows 14 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments rose 50 cents in closing at $93 while exchanging 213,440 shares, Berger Paints advanced 40 cents to close at $12 after 5,948 units crossed the exchange, Eppley climbed 70 cents to end at $42 in switching ownership of 326 stock units. First Rock Capital rallied 75 cents in ending at $12.25 after exchanging 11,005 stocks, Jamaica Producers fell $1.45 to $22.55 trading 16,428 stock units, Jamaica Stock Exchange shed $1.45 to close at $17.50 after trading 142,389 units. JMMB Group gained 30 cents to close at $43.30 with 1,307,470 stocks crossing the market, Kingston Properties dropped 50 cents in ending at $9, with 969 shares changing hands, Kingston Wharves popped $1 in closing at $40 in trading 2,121 units. MPC Caribbean Clean Energy increased $1.73 to end at $100 after exchanging six stocks, Palace Amusement climbed $45 to $1045 with just one share clearing the market, PanJam Investment lost $1.55 to end at $64.50 with the swapping of 969,825 stock units. 
Portland JSX rallied $2.40 to close at $11.50, trading 5,000 shares, Proven Investments declined $2.50 and ended at $33 in an exchange of 16,907 stocks and Sagicor Group shed 70 cents to $57.30 in exchanging 203,858 stock units.
In the preference segment, Eppley 5% preference share lost $3 in closing at $19 with an exchange of 500 units, Eppley 7.75% preference share dropped 30 cents to $20.10, with 2,762 stocks crossing the market and Productive Business Solutions 9.75% Preference share declined $7 to close at $100 after exchanging 10,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More gains than losses for JSE USD market
Trading on Monday ended with the volume of shares changing hands rising 338 percent with 43 percent higher value than on Friday, at the close of the Jamaica Stock Exchange US dollar market, resulting in more stocks rising than falling.
A total of seven securities traded, up from eight on Friday, with two rising, one slipping and four ending unchanged, leading the JSE US Denominated Equities Index to fall 2.09 points to 203.54.
A total of 185,493 shares traded for US$11,351 compared to 42,365 units at US$7,920 on Friday.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.2. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
Trading averaged 26,499 units at US$1,622, compared to 5,296 shares at US$990 on Friday, with a month to date average of 43,385 shares at US$4,330 versus 44,338 units at US$4,483 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and three stocks with lower offers.
At the close, First Rock Capital USD share lost 0.02 of a cent in closing at 7.93 US cents after an exchange of 2,998 shares, Margaritaville remained at 16 US cents after exchanging 30 stock units, Proven Investments ended unchanged at 23.32 US cents in exchanging 16,534 units. Sterling Investments popped 0.02 cents to close at 2.29 US cents in trading 6,688 stocks, Sygnus Credit Investments USD share finished at 12.89 US cents with 42,006 units clearing the market and Transjamaican Highway finished at 0.88 of one US cents after exchanging 116,483 stocks.
In the preference segment, JMMB Group 6% preference share climbed 0.01 of a cent to close at 99.02 US cents in switching ownership of 754 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big fall for JSE USD market
Trading on Friday ended with the volume of shares changing hands rising 61 percent, with a 266 percent higher than on Thursday, at the close of the Jamaica Stock Exchange US dollar market, resulting in an even number of stocks rising and falling.
The JSE US Denominated Equities Index plunged 8.81 points to close at 205.63. Eight securities traded, similar to Thursday, with two rising, two declining and four ending unchanged.
The PE Ratio, a measure used in computing stock values, averages 14.2. The PE ratio for the JSE USD stocks uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
A total of 42,365 shares traded for US$7,920 compared to 26,308 units at US$2,166 on Thursday. Trading averaged 5,296 units at US$990 compared to 3,289 shares at US$271 on Thursday, with month to date average of 44,338 shares at US$4,483 versus 47,031 units at US$4,724 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and three stocks with lower offers.
At the close, First Rock Capital USD share remained at 7.95 US cents in trading 13,057 shares, Margaritaville ended unchanged at 16 US cents in switching ownership of 3,772 stocks, MPC Caribbean Clean Energy finished at US$1.26 as just one unit crossed the exchange. 
Productive Business Solutions declined 15.19 cents to close at US$1.0381 after trading 52 stock units, Proven Investments climbed 0.3 of a cent to end at 23.32 US cents with 6,483 stocks changing hands, Sygnus Credit Investments USD share remained at 12.89 US cents in exchanging 119 units and Transjamaican Highway dropped 0.01 of a cent to end at 0.88 of a US cent after 16,601 stock units crossed the market.
In the preference segment, JMMB Group 5.75% popped 1 cent in closing at US$2.03 exchanging 2,280 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big jump for JSE USD Market
Trading on Thursday at the close of the Jamaica Stock Exchange US dollar market ended with the volume of shares changing hands declining 83 percent, with a 92 percent lower value than on Wednesday and ended with the JSE US Denominated Equities Index jumped 12.08 points to end at 214.45.
A total of eight securities traded, up from seven on Wednesday with three rising, three declining and two ending unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.7. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
Overall, 26,308 shares traded for US$2,166 compared to 157,965 units at US$27,627 on Wednesday. Trading averaged 3,289 units at US$271, down from 22,566 shares at US$3,947 on Wednesday, with a month to date average of 47,031 shares at US$4,724 versus 50,271 units at US$5,054 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital USD share ended unchanged at 7.95 US cents after exchanging 370 shares, 
Margaritaville dropped 2.5 cents to close at 16 US cents in trading 148 stocks, Productive Business Solutions increased 15.19 cents to end at US$1.19 in trading 83 units. Proven Investments shed 0.38 of a cent in ending at 23.02 US cents, with 6,238 stock units crossing the market, Sterling Investments advanced 0.27 of a cent in closing at 2.27 US cents in an exchange of 12,991 units. Sygnus Credit Investments USD share fell 0.01 of a cent to end at 12.89 US cents after trading 360 stock units. Sygnus Real Estate Finance USD share climbed 2.46 cents in closing at 15.96 US cents with 1,118 stocks changing hands and Transjamaican Highway finished at 0.89 US cents with an exchange of 5,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD Market
Trading ended on the Jamaica Stock Exchange US dollar market on Wednesday, with the volume of shares changing hands declining by 39 percent after a 58 percent increase in the value than on Tuesday. Trading led to seven securities trading, up from six on Tuesday, with two rising, three declining and two ending unchanged.
The JSE US Denominated Equities Index fell 2.24 points to end at 202.37.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
A total of 157,965 shares traded for US$27,627 compared to 257,151 units at US$17,522 on Tuesday. Trading averaged 22,566 units at US$3,947 compared to 42,859 shares at US$2,920 on Tuesday and month to date, averaging 50,271 shares at US$5,054 versus 52,191 units at US$5,130 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and three with lower offers.
At the close, First Rock Capital USD share shed 0.05 of a cent to close at 7.95 US cents in trading 3,372 shares, 
Margaritaville dropped 1.45 cents in closing at 18.5 US cents, with 500 stock units clearing the market, Productive Business Solutions gained 1.81 cents to end at US$1.038 after trading 47 stocks. Proven Investments popped 0.37 of a cent in ending at 23.4 US cents in exchanging 101,001 units, Sygnus Credit Investments USD share slipped 0.04 of one cent to 12.9 US cents, with 9,133 stocks changing hands and Transjamaican Highway ended unchanged at 0.89 of a US cent after trading 42,667 stock units.
In the preference segment, JMMB Group 5.75% remained at US$2.02 after an exchange of 1,245 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declining JSE USD stocks beat winners
On Tuesday, trading on the Jamaica Stock Exchange US dollar market ended with the volume of shares changing hands rising 80 percent, with the value 22 percent lower than on Monday, resulting in six securities trading compared to five on Monday, with two rising and four declining.
The JSE US Denominated Equities Index slipped 0.37 points to end at 204.61. The PE Ratio, a measure used in computing appropriate stock values, averages 14.4.
The PE ratio uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
A total of 257,151 shares traded for US$17,522 compared to 143,192 units at US$22,509 on Monday. Trading averaged 42,859 units at US$2,920, versus 28,638 shares at US$4,502 on Monday, with the month to date averaging 52,191 shares at US$5,130 compared to 52,780 units at US$5,270 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and three with lower offers.
At the close, First Rock Capital USD share lost 0.5 of one cent to end at 8 US cents after trading 687 shares, Proven Investments shed 0.37 of a cent to close at 23.03 US cents with an exchange of 51,611 stocks, Sterling Investments fell 0.3 of a cent to 2 US cents in an exchange of 10,540 units and Sygnus Credit Investments USD share declined 0.01 of a cent in closing at 12.94 US cents after exchanging 24,071 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on JSE USD Market
Trading on Monday, ended on the Jamaica Stock Exchange US dollar market with the volume of shares changing hands jumping 169 percent more than on Friday with 62 percent higher value as five securities traded, compared to six on Friday with three rising, none declining and two ending unchanged.
The JSE US Denominated Equities Index slipped 0.18 points to end at 204.98.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.7. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 143,192 shares traded, for US$22,509 compared to 53,317 units at US$13,919 on Friday. Trading averaged 28,638 units at US$4,502, compared to 8,886 shares at US$2,320 on Friday, with the month to date averaging 52,780 shares at US$5,270 versus 54,122 units at US$5,313 on Friday. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and two stocks with lower offers.
At the close, First Rock Capital USD share popped 0.01 of a cent to 8.5 US cents, with 50 shares changing hands, Margaritaville increased 1.95 cents in ending at 19.95 US cents in exchanging 11 units, Proven Investments ended at 23.4 US cents trading 89,381 stocks. Sygnus Credit Investments USD share rose 0.45 cents to close at 12.95 US cents after 9,415 stock units crossed the exchange and Transjamaican Highway ended unchanged at 0.88 of a US cent in an exchange of 44,335 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More changes to ICTOP10
The only major move in the Junior Market ICTOP10 listing, this week was a fall of 8 percent for Tropical Battery, while in the Main Market, Carreras rose 6 percent followed by Caribbean Producers with 5 percent, both dropped out of the TOP10, while Guardian Holdings and 138 Student Living both lost 5 percent for the week. The week’s movements resulted in no change to the ICTOP10 Junior Market stocks but Transjamaican Highway and Jamaica Broilers return to the list.
BuyRated stocks from the long-ago past
The Junior Market index closed up to 4,052.19 points, ahead of the 4,031 close of the previous week, helped by the strong gains in the two newly listed companies; JFP limited and EducFocal that jumped sharply during the week, with the former topping out at $2 to close the week up by 36 percent at $1.36, with a PE of 19 times projected 2022 earnings, while the latter jumped to $3.07 for an incredible gain of 207 percent with a PE of 38 based on projected earnings of 8 cents for 2022. Meanwhile, the Main Market continues to consolidate at a support level of around 440,000 points using the All Jamaica Composite Index, but the market drifted down below that level in the latter part of the week as NCB Financial dropped to a multi-year low of $91.01 on Wednesday, with little demand for the stock currently, but it may find support around the $105 level.
The Junior Market potential gains for the TOP 10 Junior Market stocks stand at 109 percent, much lower than the Main Market at 137 percent, an indication that Main Market is greatly undervalued. The top three stocks in the Junior Market are Elite Diagnostic, Medical Disposables followed by AMG Packaging, to gain between 122 and 133 percent.
The potential gains for Main Market stocks moved from 127 percent last week to this weeks’ 137 percent, with the top three being Guardian Holdings, JMMB Group followed by Sygnus Credit Investments all projected to gain between 169 and 198 percent versus 168 to 193 percent last week.
The average PE for Junior Market is well ahead of the average of 17 times 2020 earnings achieved at the end of March last year in moving to 21.8 based on ICInsider.com’s 2021-22 earnings, pushed up mainly by five stocks, with EduFocal and Main Event over 100 times 2021 earnings. Excluding the 5 highest PE ratios over 40, the average would be around 18. The JSE Main and USD Markets at 15.8 is well off from 19 in 2021. The TOP 10 stocks trade at a PE of a mere 8.6, with a 45 percent discount to that market’s average.
The average PE for the JSE Main Market is 20 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to the end of March this year. The Main Market TOP 10 average PE is 8.6 representing a 45 percent discount to the market, well below the potential of 20. 
The depressed PE of the main market is an indication that bigger investors are reluctant to be aggressive in buying into the market currently, with inflation, rising interest rates and war populating the headlines.
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 March 2022 and 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 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.
Trading picks up for JSE Main Market
Trading on the Jamaica Stock Exchange Main Market jumped sharply on Friday, with an exchange of 103 percent more shares valued 74 percent more than on Thursday, leading to rising stocks exceeding those declining and sending the main indices higher at the close.
The All Jamaican Composite Index popped 1,319.00 points to settle at 429,258.81, the JSE Main Index rallied 1,620.15 points to close at 384,350.94 and the JSE Financial Index climbed 0.18 points to settle at 92.36.
Trading ended with 59 securities compared to 54 on Thursday, with 24 rising, 20 declining and 15 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.1. The PE ratio for the JSE Main and USD Market closing quotes is based on ICInsider.com earnings forecasts for companies with financial years ending to August 2022.
Overall, 22,970,250 shares were exchanged for $151,749,632 versus 11,327,830 units at $87,135,931 on Thursday. Wigton Windfarm led trading with 13.10 million shares for 57 percent of total volume, followed by JMMB Group 7.5% with 2.66 million units for 11.6 percent of the day’s trade and Transjamaican Highway with 2.15 million units for 9.4 percent market share.
Trading averages 389,326 units at $2,572,028, compared to 209,775 shares at $1,613,628 on Thursday and month to date, an average of 407,288 units at $6,223,499, compared to 408,901 units at $6,551,408 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments popped 31 cents in closing at $89.41, with 3,417 shares crossing the market, Berger Paints climbed 69 cents to $12.79 in exchanging just one unit, Caribbean Cement dropped $1 to $69, with 8,944 stock units crossing the exchange. Carreras gained 35 cents to end at $8.75, trading 128,780 units, Eppley fell 55 cents to close at $39.95 with an exchange of 1,951 shares, First Rock Capital increased 66 cents in closing at $11.95 in an exchange of 8,777 units. GraceKennedy rallied 50 cents to close at $102 with the swapping of 168,647 stocks, Guardian Holdings declined $24 to $526 after trading 12 stock units, Jamaica Broilers shed 90 cents to end at $27 in trading 73,134 stocks. Jamaica Stock Exchange rose 57 cents to $17.60 after exchanging 385 shares, JMMB Group lost 50 cents to close at $41 after trading 809,440 stock units, Massy Holdings shed $4.99 to close at $109 while exchanging 39,691 units. Mayberry Jamaican Equities lost 79 cents in closing at $7.11 and finishing trading of 6,922 shares, MPC Caribbean Clean Energy declined $14.45 to end at $101.05 in switching ownership of 84 stock units, Palace Amusement advanced $25 to $975 after 25 stocks crossed the market. 
Seprod fell 79 cents to $54, with 54,762 units clearing the market, Stanley Motta dropped 42 cents in closing at $5.50, with 1,310 stock units changing hands, Supreme Ventures increased 35 cents in ending at $17.60 after exchanging 9,879 units and Victoria Mutual Investments rallied 30 cents to end at $6.75, with 88,059 stocks changing hands.
In the preference segment, Eppley 7.75% preference share gained 65 cents to close at $20.65 after trading 241 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
NCB in sharp fall below $100 on Thursday
NCB Financial traded to an intraday low for the day of $91.01 as demand for the stock melted away made worse by the stock hitting 52 weeks’ lows in the Trinidad and Tobago market, but it closed at $115, with few bids that are weak. Elsewhere market activity ended, with the volume of shares trading declining moderately but the value dropped 44 percent lower than on Wednesday on the Jamaica Stock Exchange Main Market as declining stocks exceeded those rising leaving the market falling at the close on Thursday.
NCB Financial hits a new low on Thursday.
The All Jamaican Composite Index fell 4,466.69 points to settle at 427,939.81, JSE Main Index declined 2,641.22 points to close at 382,730.79 and the JSE Financial Index fell 0.80 points to settle at 92.18.
Trading ended with 54 securities compared to 55 on Wednesday, as 20 rose, 24 fell and 10 ended unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 11,327,830 shares traded at $87,135,931 versus 11,622,326 units at $156,171,406 on Wednesday. Wigton Windfarm led trading with 6.08 million shares accounting for 53.6 percent of total volume followed by Transjamaican Highway, 1.30 million units for 11.5 percent of the day’s trade and Sagicor Select Financial Fund, 1.03 million units with 9.1 percent market share.
Trading averages 209,775 units at $1,613,628, compared to 211,315 shares at $2,839,480 on Wednesday and month to date, an average of 408,901 units at $6,551,408, compared to 426,733 units at $6,993,598 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and eight with lower offers.
At the close, Barita Investments shed 87 cents to close at $89.10 with an exchange of 33,219 shares, Berger Paints fell 30 cents to close at $12.10 trading 102 stock units, Eppley rallied 60 cents in closing at $40.50, with 199 stocks changing hands. GraceKennedy dropped $1 to end at $101.50, with 366,663 units crossing the market, Guardian Holdings rose $27 in ending at $550 with the swapping of 1,820 units, Jamaica Stock Exchange lost 96 cents to end at $17.03 after 4,495 stock units were traded. JMMB Group popped $1.50 to close at $41.50, with 258,062 stocks crossing the market, Kingston Properties increased $1 in ending at $9.50 while exchanging 35 shares, Kingston Wharves declined $1.51 in closing at $39.49, with 2,495 units clearing the market. Margaritaville advanced $2.20 to $24.20 with 5,300 stock units changing hands, Massy Holdings gained $6.19 in ending at $113.99 after exchanging 26,384 stocks, Mayberry Investments shed 49 cents to close at $6.02 after trading 906 shares. 
Mayberry Jamaican Equities climbed 84 cents to end at $7.90 in switching ownership of 2,535 shares, MPC Caribbean Clean Energy popped $10.50 in closing at $115.50 in an exchange of 20 stock units, Sagicor Real Estate Fund rose $1.96 to $8.19 in exchanging 36,732 stocks. Supreme Ventures dropped 35 cents in closing at $17.25, with 6,098 units crossing the exchange and Sygnus Real Estate Finance fell 43 cents to end at $16.50 in trading 3,603 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
