Stock prices mainly were pushed lower at the close of the Trinidad and Tobago Stock Exchange on Wednesday, with the volume of stocks traded just slipping, as the value rose 17 percent over Tuesday trade.
As was the case on Tuesday, 19 securities traded on Wednesday, with two rising, five declining and 12 ending unchanged. The Composite Index climbed 8.99 points to 1,436.43, the All T&T Index increased 4.36 points to 2,066.91 and the Cross-Listed Index gained 1.95 points to end at 106.66.
Investors exchanged 1,828,172 shares for $14,784,037 versus 1,897,307 units at $12,592,066 on Tuesday. An average of 96,220 units traded at $778,107 compared to 99,858 shares at $662,740 on Tuesday, with trading month to date averaging 50,951 units at $424,096 versus 43,060 units at $362,388. The average trade for April amounts to 43,127 units at $458,871.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Angostura Holdings remained at $22.90 in exchanging 422 shares, Ansa McAl ended at $57.60 after trading 1,030 units, Ansa Merchant Bank finished at $45 with the swapping of 17 stock units. CinemaOne fell 36 cents to close at a 52 weeks’ low of $2.10 in exchanging 100 stocks, Clico Investment Fund increased 25 cents in closing at $30, with 98,641 stocks clearing the market, Endeavour Holdings shed 50 cents to $7 after exchanging 100 stock units. 
First Citizens Group declined 20 cents to close at $52 while trading 77 shares, GraceKennedy dipped 1 cent to end at $5.99 after 1,061 units changed hands, JMMB Group finished at $2.50 in trading 53,451 units. L.J. Williams B share remained at $1.70, with 3,200 stocks crossing the exchange, Massy Holdings lost 15 cents to end at $5, trading 1,505,936 shares, National Enterprises ended unchanged at $3, with 813 stock units crossing the market. NCB Financial Group climbed 27 cents in closing at $6.33 in switching ownership of 5,000 units, One Caribbean Media remained at $4.18, with 50 stock units changing hands, Republic Financial Holdings had traded in 7,210 stocks at $140.01. Scotiabank ended unchanged at $81 in an exchange of 2,419 shares, Trinidad & Tobago NGL ended at $20.65 with an exchange of 99,693 shares, Unilever Caribbean remained at $16.20 with 47,959 stocks changing hands and West Indian Tobacco finished at $23.95 trading 993 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More TTSE stocks fall than rise
More slippage for JSE USD market
Trading on Tuesday, with the volume of stocks, traded climbing 83 percent with little change in the value compared to Monday, resulting in more stocks declining than rising at the close of the Jamaica Stock Exchange US dollar market.
A total of nine securities traded against ten on Monday, with two rising, three falling and four ending unchanged.
The JSE US Denominated Equities Index lost 1.31 points to end at 221.93.
The PE Ratio, a measure used in computing appropriate stock values, averages 23.4. The PE ratio uses ICInsider.com earnings forecasts for companies with their financial year end closing to August 2023.
Overall, 697,907 shares traded, for US$14,833 up from 380,821 units at US$14,951 on Monday. Trading averaged 77,545 units at US$1,648, compared to 38,082 shares at US$1,495 on Monday, with a month to date average of 56,450 shares at $2,395 versus 52,998 units at US$2,517 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share increased 0.81 of a cent to 7.89 US cents after exchanging 49 shares, Margaritaville remained at 15 US cents trading 102 units, Productive Business Solutions finished at US$1.18 in exchanging one stock unit. 
Proven Investments dropped 0.98 of a cent in closing at 25.02 US cents in switching ownership of 15,111 shares, Sygnus Credit Investments USD share popped 0.34 of one cent to close at 12.94 US cents in exchanging 2,217 stocks, Sygnus Real Estate Finance USD share shed 2.62 cents in closing at 12.07 US cents while trading 10,000 shares and Transjamaican Highway declined 0.01 of a cent in ending at 1 US cent with the swapping of 668,000 units.
In the preference segment, JMMB Group 5.75% ended unchanged at US$2.01, as 45 stock units crossed the exchange and JMMB Group 6% finished at US$1.10 in trading 2,382 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market bounces
Market activity ended on Tuesday, with the stock volume slipping mildly after the value declined 22 percent from Monday’s trade on the Jamaica Stock Exchange Main Market as falling stocks exceeded those gaining, but the market index rose.
The All Jamaican Composite Index gained 2,354.48 points to settle at 460,431.50, the JSE Main Index added 1,043.96 points to end at 401,688.56 and the JSE Financial Index popped 0.93 points to settle at 94.32.
Trading ended with 53 securities compared to 59 on Monday, with 23 rising, 25 declining and five ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.8. 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, 13,994,073 shares were exchanged for $299,292,536 versus 14,230,271 units at $381,343,934 on Monday. Transjamaican Highway led trading with 2.10 million shares for 15 percent of total volume followed by QWI Investments with 2.07 million units for 14.8 percent of the day’s trade, Sagicor Select Financial Fund chipped in with 1.98 million units for 14.1 percent market share and GraceKennedy, 1.83 million units for 13.1 percent market share.
Trading averages 264,039 units at $5,647,029, compared to 241,191 shares at $6,463,457 on Monday and month to date, an average of 226,911 units at $4,424,476, compared to 221,174 units at $4,235,568 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 12 stocks ended with bids higher than their last selling prices and eight stocks with lower offers.
At the close, Caribbean Cement dropped $1.50 ending at $66.50 in switching ownership of 46,616 shares, Eppley fell $1.96 in closing at $50.50 after 326 stock units were traded, Eppley Caribbean Property Fund shed $8.99 to close at $40 in an exchange of 320 units. GraceKennedy advanced $4 to end at $114 after exchanging 1,834,021 stocks, Guardian Holdings dipped $9.99 to $510.01 in exchanging 1,285 stocks, Jamaica Broilers lost 30 cents in closing at $28.50 after clearing the market with 3,910 shares. Jamaica Producers shed $1.25 to $22.60, trading 882 stock units, JMMB Group rallied 49 cents to end at $47.49 after 190,395 units passed through the market, Massy Holdings dropped 93 cents ending to $98.05 with the swapping of 10,146 shares. Mayberry Jamaican Equities declined 98 cents to close at $15.01 in trading 55,035 stocks, NCB Financial popped $10.25 to $116.90, with 122,398 stock units changing hands, 138 Student Living increased $1.20 to close at $5.25 in trading 97,496 units. Palace Amusement rose $10 in closing at $960 with an exchange of 156 units,PanJam Investment lost 50 cents to end at $66, with 44,331 stock units crossing the exchange, Proven Investments gained 43 cents to end at $37.98 after 80,732 stocks crossed the market. Sagicor Group climbed $2 in closing at $57 while exchanging 1,433 shares, Seprod fell 80 cents to end at $73 in an exchange of 55,933 stock units, Supreme Ventures lost 49 cents in ending at $31 while exchanging 88,113 stocks. 
Sygnus Credit Investments fell 30 cents to close at $16.50 with the swapping of 94,926 shares, Sygnus Real Estate Finance shed $1.64 to $15.16 after finishing trading of 5,398 units and Wisynco Group declined 80 cents to end at $23 after exchanging 628,146 shares.
In the preference segment, Eppley 7.50% preference share climbed 60 cents to $6.62, with 150 stock units crossing the market and JMMB Group 7.25% preference share dropped 99 cents to close at $2.85 in trading 1,554 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market falls, Main Market rises
Investors pushed the Junior Market index up to a record intraday high of 4,669.78 in early trading on Tuesday, but the market failed to hold on to the positive gains and closed 21.62 points lower than Monday at 4,560.79. The Jamaica Stock Exchange Main Market enjoyed a modest rise and US dollar market experienced moderate slippage, with the JSE Combined Index gaining 785.38 points to close at 416,566.94.
The All Jamaican Composite Index rose 2,354.48 points to 460,431.50 points to 458,077.02, the JSE Main Index added 1,043.96 points to end at 401,688.56 and the JSE USD market index slipped 1.31 points to end at 221.93.
Trading ended with an exchange of 37,384,823 shares in all markets. The value of stocks traded in the Main and Junior Markets amounts to $398.6 million and the JSE USD market, US$14,833. The market’s PE ratio ended at 27.5 based on 2021-22 earnings and 13.7 times those for 2022-23 at the close of the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Bounce for Trinidad stocks
Market activity ended on Tuesday, with the volume of stocks traded rising by 168 percent while the value was 137 percent more than Monday’s, at the close of the Trinidad and Tobago Stock Exchange and ended with rising stocks outnumbering those declining.
Trinidad & Tobago Stock Exchange Head Quarters
A total of 19 securities traded up from 13 on Monday, with nine rising, four declining and six remaining unchanged. The Composite Index climbed 5.62 points to 1,427.44, the All T&T Index advanced 7.93 points to end at 2,062.55 and the Cross-Listed Index increased 0.44 points to 104.71.
A total of 1,897,307 shares traded for $12,592,066 compared to 706,824 units at $5,302,591 on Monday. An average of 99,858 units traded at $662,740 versus 54,371 shares at $407,929 on Monday, with trading month to date averaging 43,060 units at $362,388 versus 31,069 units at $298,980. The average trade for April amounts to 43,127 units at $458,871.
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, Agostini’s fell 26 cents to close at $47.25 with the swapping of 1,125 shares, Angostura Holdings finished at $22.90, trading 2,056 units, Ansa McAl remained at $57.60 after exchanging 20 stock units. Ansa Merchant Bank ended at $45 in trading 526 stocks, Clico Investment Fund traded 101,612 stock units at $29.75, First Citizens Group rallied 20 cents in closing at $52.20, with 21 shares clearing the market. 
FirstCaribbean International Bank lost 5 cents in ending at a 52 weeks’ low of $5.45 after 2,576 stocks crossed the exchange, GraceKennedy shed 12 cents to $6 in trading 149,500 units, Guardian Holdings remained at $28 after exchanging 70 units. JMMB Group gained 15 cents to close at $2.50 in an exchange of 1,227,985 stock units, Massy Holdings rose 15 cents to close at $5 after 215,572 shares crossed the market, National Flour Mills finished at $1.80 in trading 2,100 stocks. NCB Financial Group advanced 1 cent to $6.06 while exchanging 21,778 stocks, Prestige Holdings dropped 5 cents after ending at $7, with 3,635 units changing hands, Republic Financial Holdings increased 1 cent to end at $140.01, trading 798 shares. Scotiabank popped $3.80 to end at $81, with 14,987 stock units crossing the market, Trinidad & Tobago NGL climbed 14 cents in closing at $20.65 in switching ownership of 106,438 stock units, Unilever Caribbean popped 5 cents to $16.20 after trading 46,158 stocks and West Indian Tobacco rallied 45 cents to $23.95 after 350 units changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market slides
Market activity ended on Monday on the Jamaica Stock Exchange Main Market, with the volume of stocks traded rising 33 percent and the value jumping 253 percent over Friday as the market pulled back at the close with falling stocks having the upper hand.
The All Jamaican Composite Index fell 1,039.72 points to settle at 458,077.02, the JSE Main Index fell 1,070.82 points to 400,644.60 and the JSE Financial Index added 0.06 points to settle at 93.39.
Trading ended with 59 securities compared to 56 on Friday, with 18 rising, 25 declining and 16 ending unchanged. Three stocks ended at 52 weeks’ closing highs, with Eppley closing at $52.46, followed by Jamaica Stock Exchange at $24.20 and Mayberry Jamaican Equities at $15.99.
The PE Ratio, a formula for computing appropriate stock values, averages 15.2. 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 August 2023.
Overall, 14,230,271 shares were exchanged for $381,343,934 versus 10,706,458 units at $108,028,666 on Friday. Productive Business Solutions 9.75% Preference share led trading with 2.88 million shares for 20.2 percent of total volume, followed by Wigton Windfarm with 2.83 million units for 19.9 percent of the day’s trade, Transjamaican Highway with 1.70 million units for 11.9 percent market share and Sagicor Select Manufacturing & Distribution Fund with 1.35 million units for 9.5 percent market share.
Trading averaged 241,191 units at $6,463,457, up from 191,187 shares at $1,929,083 on Friday and month to date, an average of 221,174 units at $4,235,568, compared to 217,015 units at $3,772,732 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 12 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints increased 30 cents in closing at $12.25 while exchanging 6,586 shares, Caribbean Cement lost $1 to $68 in trading 10,764 stocks, Eppley surged $10.41 to close at a 52 weeks’ high of $52.46, with 10,495 stock units crossing the exchange. GraceKennedy fell $1 to $110 in an exchange of 11,870 units, Jamaica Producers rose $1.60 to end at $23.85, with 36,096 stocks changing hands, Jamaica Stock Exchange popped $1.21 to end at a 52 weeks’ high of $24.20 after 84,268 shares cleared the market. Kingston Wharves rallied 74 cents in closing at $39.99 with the swapping of 40,010 units, Margaritaville climbed $2.50 to $23.50 in exchanging 50 stock units, Mayberry Jamaican Equities advanced $1.69 to close at a 52 weeks’ high of $15.99 with 83,932 shares changing hands. MPC Caribbean Clean Energy declined $9 in ending at $92 trading 19 stocks, 138 Student Living dropped $1.10 to close at $4.05 after exchanging 8,363 units, Palace Amusement shed $150 to end at $950 in switching ownership of 13 stock units. PanJam Investment declined 50 cents to $66.50, with 35,124 stock units crossing the market, Proven Investments fell 45 cents to close at $37.55 with an exchange of 27,947 stocks, Salada Foods lost 38 cents to close at $5.92 after an exchange of 26,538 units. 
Seprod popped 69 cents to $73.80, trading 51,696 shares, Supreme Ventures rallied $1.53 in closing at $31.49 after exchanging 208,360 units, Sygnus Real Estate Finance climbed $1.20 to $16.80 after exchanging 102 stocks and Wisynco Group shed $1.20 to close at $23.80 in trading 330,285 shares.
In the preference segment, Eppley 7.50% preference share dropped 58 cents to end at $6.02 in an exchange of 2,500 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New Junior Market record close
Trading closed on the Jamaica Stock Exchange Junior Market Monday, with the volume of stocks traded more than twice that on Friday with a 107 percent increase after the value jumped 100 percent and resulted in slightly more stocks rising than declining.
All 45 listed securities traded, up from 44 on Friday, with 20 rising, 17 declining and eight closing unchanged.
The Junior Market Index advanced 45.26 points to a record close of 4,582.41 after the market opened at a record high of 4,613.31, with the market index rising 33.70 percent to date, surpassing the full year gains of 29.75 percent in 2021.
The PE Ratio, a measure in computing appropriate stock values, averages 14. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 38,331,981 shares traded for $155,216,877 up from 18,509,529 units at $77,694,953 on the Friday. Derrimon Trading led with 13.47 million shares for 35.1 percent of total volume, followed by Spur Tree Spices with 10.35 million units for 27 percent of the day’s trade, JFP Limited ended with 3.54 million units for 9.2 percent market share. Tropical Battery closed trading with 2.34 million units for 6.1 percent market share, Lumber Depot contributed 1.46 million units for 3.8 percent market share and EduFocal, 1.31 million units for 3.4 percent market share.
Trading averaged 851,822 shares at $3,449,264 in contrast to 420,671 shares at $1,765,794 on Friday with month to date, averaging 495,602 units at $2,356,219 compared to 420,345 units at $2,125,294 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial shed 20 cents to close at $25.50, with 3,890 shares clearing the market, Cargo Handlers rallied $1.50 to a 52 weeks’ high of $14 in exchanging 44,307 stock units, Derrimon Trading popped 10 cents ending at a 52 weeks’ high of $3.21 after 13,469,757 units crossed the market. Dolphin Cove advanced 51 cents in closing at $22.50 after exchanging 333,111 stocks, EduFocal gained 32 cents to end at $3.80 after an exchange of 1,307,069 shares, Elite Diagnostic declined 10 cents to $3.80, with 400,199 stock units crossing the market. Express Catering fell 10 cents to $6.08 while exchanging 144,623 units, Fontana rose 20 cents in closing at $11.15 with an exchange of 350,945 stocks, Fosrich surged $2.42 to close at a 52 weeks’ high of $35.41, with 508,542 units changing hands after the price hit an all-time high of $38. iCreate dropped 22 cents to end at $3.23 after exchanging 535,733 shares, Iron Rock Insurance climbed 28 cents in ending at $3.50 with the swapping of 2,122 stocks, ISP Finance lost $5 to close at $22 in an exchange of 214 stock units. JFP Limited gained 13 cents to $1.46 in trading 3,542,705 shares, Knutsford Express climbed 35 cents to $8 after trading 8,250 stock units, Lasco Financial dropped 17 cents to end at $3.29 in switching ownership of 209,362 units. Lasco Manufacturing declined 25 cents to $5.10, with 5,444 stocks crossing the exchange, Lumber Depot shed 20 cents in closing at $3.25, trading 1,460,226 stock units, Main Event fell 55 cents to close at $9.40, with 12,026 shares changing hands. 
Medical Disposables lost 10 cents to end at $6.90 after exchanging 12,118 units, Spur Tree Spices increased 27 cents to $4.26, crossing the exchange of 10,348,476 stocks, SSL Venture popped 12 cents ending at $1.80, with 32,701 shares clearing the market. Stationery and Office Supplies declined 20 cents in closing at $9.30, with 6,075 stocks crossing the market, Tropical Battery rallied 21 cents to close at $2.95 in exchanging 2,335,013 units and tTech fell 10 cents to end at $3.80, trading 675 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trinidad stocks slip with one winner
On Monday, market activity ended on the Trinidad and Tobago Stock Exchange, with the volume of stocks traded rising 139 percent more than on Friday after the value surged 88 percent and landed with prices mostly falling than rising, leading to a faltering market at the close.
A total of 13 securities traded down from 17 on Friday, with one stock rising, five declining and seven remaining unchanged and resulted in the Composite Index slipping 2.93 points to 1,421.82. The All T&T Index fell 5.67 points to 2,054.62 and the Cross-Listed Index remained unchanged at 104.27.
A total of 706,824 shares traded for $5,303,083 compared to 295,784 units at $2,828,989 on Friday.
An average of 54,371 units traded at $407,929, up from 17,399 shares at $166,411 on Friday, with trading month to date averaging 31,069 units at $298,980 versus 27,135 units at $280,586. The average trade for April amounts to 43,127 units at $458,871.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Angostura Holdings popped 90 cents to end at $22.90 after trading 7,310 shares, Ansa McAl remained at $57.60 with an exchange of 52 stock units, CinemaOne fell 43 cents to a 52 weeks’ low of $2.46, with 200 units crossing the exchange. First Citizens Group dropped $2.50 in closing at $52 with 2,200 stocks changing hands, GraceKennedy ended at $6.12 in switching ownership of 100 shares, 
JMMB Group finished at $2.35 in exchanging 10,000 stocks. Massy Holdings lost 14 cents ending at $5 with the swapping of 559,691 units, NCB Financial Group remained at $6.05 in trading 2,000 stock units, Republic Financial Holdings closed at $140 after trading 419 stock units. Scotiabank shed 30 cents to close at $77.20, as 1,351 stocks changed hands, Trinidad & Tobago NGL declined 14 cents in closing at $20.51 after exchanging 1,278 units, Unilever Caribbean finished at $16.15, trading 120,991 shares and West Indian Tobacco ended with an exchange of 1,232 stocks at $23.50.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Markets 4,582 record close, majors fall
The Junior Market pushed 45.26 points higher in trading on Monday, closing at another record high of 4,582.41 after it traded over the 4,600 points mark for the first time, hitting 4613.27 just after the market opened as fresh results posted since the close on Friday saw investors pushing some stocks higher in response. The Jamaica Stock 
Exchange Main Market and US dollar market experienced moderate slippage, with the JSE Combined Index falling 600.65 points to close at 415,781.56.
The All Jamaican Composite Index lost 1,039.71 points to 458,077.02, the JSE Main Index lost 1,070.82 points to end at 400,644.60 and the JSE USD market index slipped 0.48 points to end at 223.24.
Trading ended with an exchange of 52,943,073 shares in all markets. The value of stocks traded in the Main and Junior Markets amounts to $536.6 million and the JSE USD market, US$14,951. The market’s PE ratio ended at 26.4 based on 2021-22 earnings and 13.5 times those for 2022-23 at the close of the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
RJR back in 3rd spot as Access jumps 22%
There is only one change to ICInsider.com TOP10 listings this week, with Radio Jamaica coming back in the Main Market list at position 3. Following an earnings upgrade for the 2023 fiscal year, it replaces Jamaica Stock Exchange that ICInsider.com projects to have explosive results for the first quarter.
Radio Jamaica
In the wider market, Junior Market stocks keep on piling the pressure on the main market with the former closing the week at a record high, with year to date gains of 32.8 percent and is well on the way to ICInsider.com forecast of 60 percent for the year.
Thanks to a takeover announcement of AS Bryden, a Trinidad based company by Seprod, the Main Market moved higher for the week, with the All Jamaica Index just under 460,000 points, still well below 2020 high.
TOP10, Access Financial shares moved higher this past week as selling seems to have dried up and led the stock to a 22 percent rise during the week, to be the best performing stock in the TOP10. Access Financial has been beaten up for more than two years but is now worth watching. On Friday, well ahead of the close of the market, a buy order for 100,000 Access Financial shares was placed at $25.60, but only18,000 units were filled up to the close. There were no stocks on offer with any sizable quantity close to the bid price just before close, indicating that the price is heading higher.
Elite Diagnostic 
gained 8 percent to close the week at $3.90, but Caribbean Assurance Brokers that reported a profit for the first quarter versus a loss in 2021, fell by 6 percent and so did General Accident that is said to be having a good 2022, with Trinidad and Barbados expected to deliver positive results versus a loss of around $200 million in 2021. Movement of main market stocks was more subdued than their junior counterpart, with the Jamaica Stock Exchange rising a mere 4 percent and selling at 8 times this year’s earnings, with a blowout first quarter results due shortly. Caribbean Cement, surprisingly, fell 8 percent as buying interest in the stock is low, even as the first quarter results suggest the stock is highly undervalued.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15.5, while the Junior Market PE for the TOP10, sits at 6.2 versus the market at 13.8. The Junior Market TOP10 is projected to gain an average of 230 percent to May 2023 and the Main Market 201 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 and 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.
