Market activity ended on the Jamaica Stock Exchange Main Market on Tuesday, with the volume of shares trading declining after funds flowing into the market dropped 31 percent from that Monday leading rising stocks to exceed those declining but the market indices slipped at the close.
The All Jamaican Composite Index shed 1,006.71 points to settle at 448,908.04, the JSE Main Index slipped 541 points to 395,486.96 and the JSE Financial Index dipped 0.31 points to settle at 93.66.
A total of 58 securities traded compared to 57 on Monday, with 26 rising, 20 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.5. 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 2023.
Overall, 18,631,554 shares traded for $85,039,171 versus 16,149,953 units at $124,025,246 on Monday. Wigton Windfarm led trading with 5.34 million shares for 28.7 percent of total volume followed by Transjamaican Highway with 3.93 million units for 21.1 percent of the day’s trade. Sagicor Select Financial Fund followed with 3.34 million units for 17.9 percent market share, while Pulse Investments ended with 1.82 million units changing hands for 9.8 percent market share.
Trading averaged 321,234 units at $1,466,193, compared to 283,333 shares at $2,175,882 on Monday and month to date, an average of 600,518 units at $4,875,800, compared to 641,631 units at $5,377,722 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Caribbean Cement dropped 78 cents to close at $71.22 while exchanging 9,542 shares, Caribbean Producers gained 43 cents to end at $18.20 in an exchange of 497,281 stocks, Eppley popped 33 cents in closing at $42.33 in trading 34 units. Eppley Caribbean Property Fund shed $2 to $45 after 516 stock units changed hands, First Rock Capital rose 56 cents in ending at $11.67 after trading 7,450 shares, Jamaica Broilers traded 11,074 stocks with the rice falling 63 cents to end at $28. Jamaica Stock Exchange advanced $1.30 to $23.30, with 47,422 units crossing the market, JMMB Group lost $1.07 in closing at $47 with the swapping of 213,313 stock units, Kingston Propertiesdeclined $1.15 to close at $8.20, with 13,822 stock units crossing the market. MPC Caribbean Clean Energy climbed $13.20 in ending at $115, with an exchange of two shares, NCB Financial fell $1.50 to end at $108 after exchanging 53,112 units, Palace Amusement rallied $34 to close at $1000, in exchanging just two stock units. 
Portland JSX increased $1.05 after ending at $9.80 after 1,524 stocks changed hands, Proven Investments advanced 55 cents to $38.50 in switching ownership of 8,968 shares, Scotia Group increased 50 cents in closing at $35.50, with 127,996 units changing hands, Supreme Ventures declined $1.50 to close at $23 with an exchange of 39,446 stock units and Sygnus Credit Investments shed 60 cents to $14.80 trading 204,058 stock units.
In the preference segment, 138 Student Living Preference shares rallied $1.44 to $16.50 after switching ownership of 301 units and Eppley 7.25% Preference share rose $2.98 to $23 with the swapping of 201 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market closes higher
The Junior Market Index closed with a gain of 36.21 points at 4,246.73 after the index went as high as 4,291.09 in the early morning session as trading picked up on Tuesday, with the volume of stocks rising 17 percent with an 18 percent higher value than on Monday at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 44 securities trading compared to 45 on Monday and ended with 21 rising, 16 declining and seven ended unchanged.
Fosrich traded at a record high of $25 but failed to hold at this level to the end but iCreate ended at a 52 weeks’ closing high.
The PE Ratio, a measure used to compute appropriate stock values, averages 12.9. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with their financial year ending between August 2022 to August 2023.
Overall, 21,499,543 shares traded for $79,329,070 up from 18,383,140 units at $67,321,969 on the Monday. EduFocal led trading with 8.81 million shares for 41 percent of total volume, followed by iCreate, 2.5 million units for 11.7 percent of the day’s trade, Lumber Depot exchanged 1.38 million units for 6.4 percent market share, Express Catering ended 1.35 million units for 6.3 percent market share and Jamaican Teas controlled 1.26 million units for 5.8 percent market share.
Trading on Tuesday averaged 488,626 shares at $1,802,933, up from 408,514 shares at $1,496,044 on Monday with the month to date, averaging 435,852 units at $1,595,999 versus 428,060 units at $1,565,445 on the previous trading day. March closed with an average of 719,276 units at $2,636,802.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and two with lower offers.
At the close, Access Financial rallied 14 cents to end at $21.50 after exchanging 378 shares, Blue Power dropped 55 cents to close at $3.60 after 63,369 stock units crossed the exchange, CAC 2000 declined 20 cents to $7.05 after exchanging 7,375 units. Cargo Handlers popped $1.48 in closing at $10.98 in switching ownership of 2,816 stocks, Caribbean Cream rose 14 cents to $4.99 with an exchange of 3,044 stocks, Consolidated Bakeries fell 11 cents in ending at $1.24 after an exchange of 56,570 shares. Derrimon Trading lost 13 cents to close at $2.70 with 710,408 units changing hands, Dolphin Cove gained 42 cents to end at $22.35, with 97,431 stock units crossing the market, Elite Diagnostic advanced 40 cents to $3.60 with the swapping of 664,302 stocks. Express Catering climbed 10 cents in closing at $6.50, with 1,348,242 stock units clearing the market, Future Energy Source rose 10 cents to $6.10 in trading 203,392 units, Honey Bun shed 30 cents to close at $9.70 after trading 5,759 shares. iCreate climbed 16 cents in closing at a 52 weeks’ high of $1.20 after exchanging 2,504,985 stock units, Indies Pharma rallied 10 cents to $3.15, with 272,904 stocks changing hands, Iron Rock Insurance advanced 60 cents to end at $3.80, trading 28,009 units. 
Knutsford Express shed 30 cents in ending at $7.70, with 15,711 shares crossing the market, Lasco Financial gained 19 cents to $3.59 while exchanging 77,266 stocks, Lumber Depot increased 12 cents to close at $3.67 with 1,375,828 units changing hands. Mailpac Group lost 10 cents in closing at $3.15 after switching ownership of 414,861 shares, Spur Tree Spices popped 18 cents to end at $3.65 in exchanging 654,725 stock units, Stationery and Office Supplies rose 39 cents in closing at $7.89, after just 70 shares crossed the market and Tropical Battery fell 13 cents in ending at $2.35 trading 911,468 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for JSE Main Market as Junior Market rises
The Jamaica Stock Exchange Main Market recorded another day of losses on Tuesday with all three Main Market indices closing lower than on Monday, but the Junior Market rose for a second day and the Combined Index fell 185 points to end at 407,972.06.
The All Jamaican Composite Index fell 1,006.71 points to 448,908.04, the JSE Main Index dipped 541 points to end at 395,486.96. The Junior Market index jumped 36.21 points to end at 4, 246.73 and the JSE USD market index slipped 1.43 points to 221.80.
The market’s PE ratio ended at 23 based on 2021-22 earnings and 12.9 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 make use of 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 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.
Stocks drop on the Trinidad Stock Exchange
Market activity ended on Tuesday with more stocks declining than rising, leaving the market index with a big loss as the volume and value of stock trading fell 48 percent and 54 percent, respectively, than on Monday, at the close of the Trinidad and Tobago Stock Exchange.
Nineteen securities traded, down from 24 on Monday, with three rising, nine declining and seven closing unchanged.
The Composite Index lost 34.07 points to settle at 1,420.95, the All T&T Index fell 32.87 points to settle at 2,040.87 and the Cross-Listed Index lost 4.95 points to settle at 106.08.
A total of 460,033 shares traded for $5,267,557 down from 876,591 units at $11,470,015 on Monday. An average of 24,212 units traded at $277,240 compared to 36,525 shares at $477,917 on Monday, with trading month to date averaging 56,405 units at $470,274 versus 60,624 units at $495,568. The average trade for March amounts to 36,197 units at $438,630.
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, Agostini’s declined 10 cents to $46 while exchanging 1,135 shares, Angostura Holdings rallied $1.70 in closing at $22 after trading 1,651 units, Ansa McAl shed 50 cents to end at $57, with 3,076 stock units clearing the market. Calypso Macro Investment Fund remained at $19 in trading five stocks, Clico Investment Fund dropped 50 cents to $29 after trading 15,997 stocks, First Citizens Group fell 40 cents to end at $50.60 after exchanging 1,048 stock units. FirstCaribbean International Bank lost 15 cents in ending at a 52 weeks’ low of $5.80 after 3,000 units crossed the market, GraceKennedy finished at $6 with the swapping of 190,499 shares, Guardian Holdings ended at $27.01 after 100 shares crossed the exchange. 
JMMB Group ended unchanged at $2.42 in switching ownership of 10,388 units, Massy Holdings dropped 7 cents to close at $5.53 in exchanging 64,270 stocks, National Enterprises gained 1 cent to $3, with 260 stock units changing hands. NCB Financial Group finished at $6.10 in an exchange of 47,986 stocks, Prestige Holdings lost 30 cents to end at $6.80 as just seven stock units passed through the market, Republic Financial Holdings declined 7 cents in closing at $141, with 856 units crossing the market. Scotiabank shed 50 cents to end at $80, with 5,650 shares changing hands, Trinidad & Tobago NGL increased 10 cents to end at $20.60 with an exchange of 26,865 shares, Unilever Caribbean remained at $16 after 66,196 stock units crossed the market and West Indian Tobacco remained at $23.99 in trading 21,044 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market falls
Market activity ended on Monday, with the volume and value of stocks trading declined compared to Friday by 54 percent and 59 percent respectively, on the Jamaica Stock Exchange Main Market as rising stocks just edged out those declining.
The All Jamaican Composite Index fell 1,183.04 points to 449,914.75, the JSE Main Index lost 940.51 points to end at 396,027.96 and the JSE Financial Index slipped 0.13 points to 93.97.
A total of 57 securities traded up from 55 on Friday, with 23 rising, 22 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.6. 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 2023.
Overall, 16,149,953 shares were exchanged for $124,025,246 versus 35,213,318 units at $300,629,178 on Friday. Transjamaican Highway led trading with 6.74 million shares for 41.8 percent of total volume followed by Wigton Windfarm with 2.51 million units for 15.6 percent of the day’s trade, Pulse Investments, 2.09 million units for 12.9 percent market share and 138 Student Living ended with 1.0 million units changing hands for 6.2 percent market share.
Trading averages 283,333 units at $2,175,882, compared to 640,242 shares at $5,465,985 on Friday and month to date, an average of 641,631 units at $5,377,722, compared to 702,233 units at $5,919,280 on the previous trading day. March closed with an average of 610,787 units at $6,967,031.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments dropped 32 cents in closing at $90.03 after exchanging 26,993 shares, Berger Paints lost 44 cents to close at $11.55 after trading 5,840 stock units, Caribbean Cement climbed 50 cents in ending at $72 with the swapping of 5,616 units. Caribbean Producers declined 43 cents to $17.77, with 217,938 stocks clearing the market, Eppley shed 50 cents to end at $42, with 3,919 shares crossing the market, First Rock Capital fell 86 cents in closing at $11.11, with 10,653 stocks changing hands. GraceKennedy declined $1.15 to end at $104 in exchanging 380,803 stock units, Guardian Holdings dropped $10 to $530 in trading 3,127 units, Jamaica Stock Exchange shed $2 ending at $22 in an exchange of 240,986 stocks. JMMB Group lost $3.82 to close at $48.07 after exchanging 112,123 units, Margaritaville popped 50 cents to end at $26 trading 25 shares, Massy Holdings fell 30 cents in ending at $100.50 after trading 17,066 stock units. Mayberry Jamaican Equities declined 70 cents to close at $9.10 while exchanging 46,406 stocks, NCB Financial increased $1.49 in closing at $109.50 with an exchange of 54,054 units, Palace Amusement gained $15.99 to end at $966, with 16 stock units crossing the market. Portland JSX shed $2.25 to end at $8.75 in switching ownership of 1,272 shares, Sagicor Group rose 50 cents ending at $57 with an exchange of 36,401 shares, Scotia Group dropped 71 cents in closing at $35 in trading 316,163 stocks. 
Seprod fell $2.35 to close at $59.65 in an exchange of 12,073 stock units, Supreme Ventures fell 50 cents to $24.50 124,464 units crossing the market, Sygnus Credit Investments rallied 35 cents to end at $15.40 in an exchange of 27,147 stocks and Wisynco Group advanced $1.12 to 52 weeks’ high of $22.62 after 49,434 shares crossed the market.
In the preference segment, 138 Student Living Preference shares advanced $1.96 in ending at $15.06 after 800 units changed hands and Eppley 7.50% preference share increased 60 cents in closing at $6.60 after trading 911 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading on the JSE USD Market drops
Trading closed on the Jamaica Stock Exchange US dollar market on Monday, with the volume of shares changing hands declining 80 percent with 58 percent less value than on Friday, resulting in more stocks rising than falling.
A total of eight securities traded, up from seven on Friday, with three rising, one declining and four ending unchanged. The JSE US Denominated Equities Index lost 2.62 points to end at 223.53.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.6. The PE ratio is based on ICInsider.com earnings forecasts for companies with financial years ending August 2022 and August 2023.
Overall, 281,548 shares traded for US$16,917 compared to 1,417,291 units at US$40,251 on Friday.
Trading averaged 35,194 units at US$2,115 compared to 202,470 shares at US$5,750 on Friday, with a month to date average of 111,260 shares at US$4,463 versus 124,207 units at US$4,862 on the previous day. March ended with an average of 59,258 units for US$6,669.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Capital USD share finished at 7.6 US cents with an exchange of 1,081 shares, Margaritaville remained at 16 US cents in exchanging 341 units, MPC Caribbean Clean Energy ended unchanged at US$1.26, with 200 stocks crossing the exchange. 
Proven Investments lost 0.95 cents ending at 25 US cents, with 44,294 stock units crossing the market, Sterling Investments advanced 0.28 cents to end at 2.28 US cents, with the swapping of 67,175 stock units, Sygnus Credit Investments USD share finished at 12.95 US cents in trading 18,257 shares. Sygnus Real Estate Finance USD share rose 2.65 cents to close at 14.7 US cents, with 200 units clearing the market and Transjamaican Highway rallied 0.02 cents to end at 1.02 US cents in an exchange of 150,000 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Junior Market to start the week
Trading closed on the Jamaica Stock Exchange Junior Market on Monday, with the volume f stocks traded declining 61 percent, with 49 percent less value compared to Friday and ended with an equal number of shares rising and declining.
All 45 securities traded on Monday, up from 40 on Friday and ended with 19 rising, 19 declining and seven closing unchanged. At the close, the Junior Market Index popped 10.58 points to 4,210.52.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.9. The PE ratios of stocks in the chart below are based on earnings forecast by ICInsider.com for companies with financial years ending between August 2022 and August 2023.
Overall, 18,383,140 shares traded for $67,321,969 compared to 46,852,885 units at $132,272,326 on Friday. Mailpac Group led trading with 3.56 million shares for 19.4 percent of total volume followed by Indies Pharma with 3.26 million units for 17.7 percent of the day’s trade, followed by Elite Diagnostic with 2.12 million units for 11.5 percent market share and iCreate ended with 1.56 million units changing hands for 8.5 percent market share.
Trading averaged 408,514 shares at $1,496,044 in contrast to 1,171,322 shares at $3,306,808 on Friday with month to date, averaging 428,060 units at $1,565,445 compared to 431,536 units at $1,577,789 on the previous trading day. March closed with an average of 719,276 units at $2,636,802.
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, Access Financial lost 59 cents to close at $21.36 with the swapping of 25 shares, AMG Packaging climbed 40 cents to $3.60, with 324,507 stock units crossing the market, CAC 2000 advanced 20 cents to $7.25 after an exchange of 2,435 units. Cargo Handlers dropped $2.40 in closing at $9.50, with 21,030 stocks crossing the exchange, Caribbean Cream increased 9 cents to $4.85 in an exchange of 25,354 stocks, Consolidated Bakeries rallied 7 cents to end at $1.35, with 41,009 units changing hands. Derrimon Trading popped 13 cents to $2.83 as 284,977 shares were traded, Dolphin Cove shed 47 cents in ending at $21.93 with an exchange of 95,811 stock units, EduFocal fell 9 cents to $3.80 after exchanging 412,002 stock units. Elite Diagnostic rose 63 cents to close at $3.20, with 2,117,544 shares clearing the market, Express Catering gained 38 cents to $6.40 in exchanging 568,615 stocks, Fosrich rallied $2.93 to end at a record high of $22.93, with 259,550 units crossing the market. Future Energy Source declined 15 cents in closing at $6 after trading 647,264 stocks, Honey Bun shed 15 cents in ending at $10, after an exchange of 91,534 stock units, iCreate popped 14 cents to close at $1.04 while exchanging 1,563,814 shares. 
Indies Pharma advanced 20 cents in ending at $3.05 after swapping 3,261,845 units, Iron Rock Insurance dropped 50 cents to $3.20 in exchanging 112,371 units, Lasco Financial fell 10 cents to $3.40 after exchanging 63,566 stock units. Lasco Manufacturing declined 24 cents to end at $5.09 in trading 35,937 stocks, Limners and Bards lost 10 cents in closing at $3.20, with 334,155 shares crossing the market, Lumber Depot lost 13 cents to end at $3.55 after trading 629,422 stocks. Mailpac Group climbed 10 cents in closing at $3.25 in switching ownership of 3,564,473 stock units, SSL Venture declined 19 cents to close at $1.66 with an exchange of 26,007 shares, Stationery and Office Supplies dropped 38 cents to $7.50 in trading 11,296 units. Tropical Battery gained 15 cents to end at $2.48, with 827,488 stocks crossing the market and tTech rose 36 cents to close at $4.09 after 23,328 shares changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for JSE Main Market gains for Juniors
The Jamaica Stock Exchange Main Market recorded another day of losses on Monday, with all three Main Market indices closing lower than Friday, but the Junior Market rose. The Combined Index fell 786.58 points to end at 408,157.06.
The All Jamaican Composite Index fell 1,183.04 points to 449,914.75, the JSE Main Index dipped 940.51 points to end at 396,027.96. The Junior Market index popped 10.58 points to end at 4, 210.52 and the JSE USD market index slipped 2.62 points to 223.23.
The market’s PE ratio ended at 23.2 based on 2021-22 earnings and 13 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 make use of 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 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.
Trading surged Monday on TTSE
Trading surged on Monday over Friday, with 93 percent more shares changing hands with a 216 percent higher value at the close of the Trinidad and Tobago Stock Exchange, resulting in more stocks falling than rising at the close.
A total of 24 securities traded compared to 21 on Friday, with five stocks rising, ten declining and nine remaining unchanged. The Composite Index popped 5.02 points to 1,455.02, the All T&T Index lost 2.15 points to end at 2,073.74 and the Cross-Listed Index advanced 1.78 points to close at 111.03.
Overall 876,591 shares traded for $11,470,015 compared to 453,136 units at $3,627,650 on Friday. An average of 36,525 units traded at $477,917 compared to 21,578 shares at $172,745 on Friday, with trading month to date averaging 60,624 units at $495,568 versus 65,404 units at $499,069. The average trade for March amounts to 36,197 units at $438,630.
Investor’s Choice bid-offer indicator shows two stocks ending with a bid higher than their last selling prices and two with lower offers.
At the close, Agostini’s finished at $46.10, trading 6,667 shares, Angostura Holdings shed $1.70 to end at $20.30 after an exchange of 1,170 stock units, Ansa McAl remained at $57.50, with 340 units crossing the market. Calypso Macro Investment Fund ended unchanged at $19 in an exchange of 6 stocks, Clico Investment Fund finished at $29.50 with 44,711 stock units changing hands, First Citizens Group dropped 99 cents to close at $51 after trading 3,100 stocks. FirstCaribbean International Bank remained at $5.95, with ten shares crossing the market, GraceKennedy rose 70 cents to $6 with the swapping of 369,455 units, Guardian Holdings declined 39 cents to end at $27.01 in exchanging 46,984 stocks. JMMB Group popped 13 cents to $2.42 after exchanging 394 units, L.J. Williams B share lost 3 cents to close at $1.97 in trading 25 shares, Massy Holdings fell 14 cents to $5.60 in switching ownership of 10,081 stock units. 
National Enterprises finished at $2.99 while 9,260 stocks changed hands, National Flour Mills fell 5 cents to $1.55, with 35,545 units crossing the exchange, NCB Financial Group shed 60 cents to end at a 52 weeks’ low of $6.10, with 6,348 shares clearing the market. One Caribbean Media rallied 5 cents to $4.18 after trading 9,325 stock units, Point Lisas remained at $3.50 in trading 20 stocks, Prestige Holdings gained 20 cents to $7.10, with 46,010 shares changing hands. Republic Financial Holdings climbed 7 cents to end at $141.07 after exchanging 2,979 units, Scotiabank lost 50 cents to close at $80.50 after trading 400 stock units, Trinidad & Tobago NGL declined 12 cents to close at $20.50 with an exchange of 2,074 shares. Trinidad Cement dipped 2 cents to $3.50 in exchanging 36,000 stock units, Unilever Caribbean ended unchanged at $16 with an exchange of 111,825 units and West Indian Tobacco finished at $23.99, trading 133,862 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Impressive gains for ICTOP10 stocks
ICTOP10 listed Jamaican Stock Exchange stock price surged to a 52 weeks’ high of $24 on Friday with a gain of 28 percent in the week as Caribbean Producers jumped 21 percent to $18.20, followed by a 12 percent gain in JMMB Group that closed the week at $51.89 after hitting a peak in the week of $61.24, on Tuesday, while Productive Business Solutions rose 12 percent to US$1.19.
In the Junior Market, Stationery and Office Supplies rose 12 percent to $7.88. Jetcon Corporation recovered lost grounds with a rise of 11 percent to end at $1.10, following knee-jerk reaction by investors to an article in one of the local newspapers in the previous week. Elite Diagnostic plunged 14 percent to $2.57 as a major shareholder sold a portion of their holdings. Caribbean Cream dropped 7 percent to $4.76 and Caribbean Assurance lost 6 percent to land at $2.25.
This stock is in limited supply and replaced Caribbean Producers in the TOP10. Coming into the Junior Market ICTOP10 is tTech that slipped in price and came in at the expense of General Accident. The latter will be a big beneficiary of the hike in interest rates on its $4.5 billion investment and cash funds.
Scotia Group is ICInsider.com’s new stock for the future that comes into the Main Market ICTOP10 at number 9, with projected earnings of $4.47 per share as the group generates increasing income from the sharp hike BOJ induced hike in interest rates on investments.
Transjamaican Highway, an ICTOP10 listing in the previous week, closed out this past week with a rise to an all-time high of $1.78 before closing at $1.70 for the week.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.8, while the Junior Market PE for the Top 10 is at 5.4 versus the market at 12.9. The Junior Market TOP10 is projected to gain an average of 289 percent to May 2023 and the Main Market 192 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 shares that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They 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.
