Trading ended with more stocks rising than falling at the close of market activity on Monday, after 32 percent more shares crossed the exchange after 30 percent less funds chased stocks than Friday, at the close of the Trinidad and Tobago Stock Exchange.
At the close, 18 securities traded compared to 17 on Friday, with five rising, one declining, while 12 remained unchanged.
The Composite Index popped 5.18 points to 1,434.30, the All T&T Index rose 9.22 points to 1,952.11 and the Cross-Listed Index increased 0.12 points to settle at 123.36.
A total of 168,766 shares traded, for $3,189,743 compared to 127,74 units at $4,558,721 on Friday. An average of 9,376 units traded at $177,208 compared to 7,514 at $268,160 on Friday, with trading month to date averaging 5,670 units at $125,310 versus 4,644 units at $110,938. The average trade for October amounts to 23,649 units at $227,589.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and four stocks with lower offers.
At the close, Agostini’s ended at $24.50 with an exchange of 1,180 shares, Ansa McAl rose 43 cents to end at $58 after exchanging 10,203 units, First Citizens Group traded 125 stock units at $51. FirstCaribbean International Bank remained at $6.50 with 70 stocks changing hands, GraceKennedy ended at $6.10 in switching ownership of 38,837 stocks, Guardian Holdings spiked 42 cents $30.75 in trading 35,183 shares. Guardian Media remained at $3.21 with the swapping of 991 units, JMMB Group popped 1 cent to $2.24, with 220 stock units crossing the market, Massy Holdings ended at $90 in an exchange of 2,093 units. National Enterprises traded 5,000 shares at $3.29, National Flour Mills rose 15 cents to close at $2.05, with 44,136 stock units clearing the market, NCB Financial Group remained at $8.05 while exchanging 6,750 stocks. Prestige Holdings ended at $7.05 with 280 stock units changing hands, Republic Financial Holdings traded 4,266 shares at $136.47, Scotiabank ended at $62.90 after an exchange of 40 units. Trinidad & Tobago NGL fell 1 cent to $18.30 with 15,469 stocks changing hands, Trinidad Cement increased 10 cents to end at $3.90, with 3,920 stock units crossing the exchange and Unilever Caribbean remained at $16.20 in switching ownership of 3 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks push TTSE higher on Monday
ICTOP10 stocks make big gains
ICTOP10 stocks continue, with some sharp price movement during the past week, with VM Investments being the lead mover with a 16 percent rise, with a 12 percent increase for General Accident to $6.10, Medical Disposables rose 11 percent to $5.50 and Guardian Holdings popped 9 percent to $565.
Berger Paints and Access Financial both gained 6 percent for the week. Access’ performance followed the release of half year results that showed good promise of a strong rebound in earnings for the current fiscal year. See ICInsider.com’s report on the results.
There are no additions to the ICTOP10 this week, but with several company results due this week, the markets could benefit from some.
The top three Main Market stocks are Berger Paints, Guardian Holdings and JMMB Group, with gains of 220 to 230 percent expected versus last weeks’ 216 to 254 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by General Accident, with a drying up of offers up to $7.24 and Lasco Financial, with all three having the potential to gain between 203 and 297 percent, from 228 percent and 281 percent, previously.
This week’s focus: QWI investments, one of ICInsdier.com TOP15 stocks for 2021, now boast a Net Asset Value of $1.43 at the end of the past week, the highest value since it was listed in 2019, but the stock is selling at 92 cents on the Main Market at a huge 36 percent discount to NAV, even as the composition of the portfolio suggests further increase in value is likely before the end of 2021. The NAV is up 23 percent from $1.16 at the end of December last year, just below the Junior Market gains for the year to date and well ahead of the Composite index rise. The stock price has increased by 19.4 percent from 77 cents at the end of 2020 to Friday. It seems that investors don’t buy into the concept of buying stocks when blood is in the streets.
Most of the top 2021 stocks will not make the top 10 in 2022, but some will. The IC 80/20 rule, with a long 40 year history, shows an average of only two of the TO10 stocks in a year repeat in the following one, while 4 out of 10 of the worst performing stocks will end up as TOP10 winners in the succeeding year.
Investors’ focus should now be on 2022 for the local stocks and the current year’s values to determine the appropriate values of each stock for a hold or fold decision.
PE ratio is revaluing, with the Main Market moving from 15.6 last week to 16 this week and the Junior Market from 13.2 to 13.7. This trend will continue as results are released and encourage increased investments in stocks that are now undervalued.
The average gains projected for the TOP 10 Junior Market stocks moved from 202 percent last week to 191 percent and Main Market stocks moved from 169 percent to 159 percent.
The Junior Market closed the week with an average PE 13.7 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the historical average of 17 for the period to March this year, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 7, with a 52 percent discount to that market’s PE.
The Junior Market can gain 52 percent to March next year, based on an average PE of 20 and 25 percent based on an average PE of 17. Seven stocks representing 15 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from nine last week, indicating that many others will rise above the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 16, which is 19 percent less than the PE of 19 at the end of March and 25 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 7.8, representing a 50 percent discount to the market and well below the potential of 20. A total of 12 stocks or 25 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 24, suggesting that the accepted multiple maybe around 25 times the current year’s earnings.
ICTOP10 focuses on potential 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.
Stocks close higher on the JSE USD Market
Trading on Friday ended with the volume of shares declining 66 percent below Thursday’s turn after 31 percent less funds passed through the Jamaica Stock Exchange US dollar market and resulted in a few stocks rising than falling.
Trading ended with seven securities changing hands, compared to seven on Thursday with prices of two rising, one declining and four ending unchanged.
The JSE US Denominated Equities Index gained 1.50 points to end at 196.43. The PE Ratio, a measure used in computing appropriate stock values, averages 12. The PE ratio is based on earnings forecasted by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Overall, 34,284 shares traded for US$5,704 compared to 99,799 units at US$8,317 on Thursday.
Trading averaged 4,898 units at US$815, compared to 14,257 shares at US$1,188 on Thursday and the month to date averages 91,262 at US$10,793 versus 117,547 units at US$13,830 on Thursday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and two with lower offers.
At the close, First Rock Capital US share traded 1,527 shares at 6.9 US cents, Productive Business Solutions gained 3 cents to end at 98 US cents with 11 units clearing the market, Proven Investments ended at 22.8 US cents, with 12,237 stocks changing hands. Sygnus Credit Investments US$ share shed 0.9 of a cent to close at 12.08 US cents after trading 20,232 stock units, Sygnus Real Estate Finance USD share advanced 1 cent in closing at 16 US cents after an exchange of 26 units.
In the preference segment, Equityline Mortgage Investment preference share remained at US$1.999 in switching ownership of one stock unit and JMMB Group 6% ended unchanged at US$1.05 in trading 250 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on the TTSE on Friday
Trading activity gathers pace on Friday, resulting from a rise of 260 percent more shares, with 1,119 percent higher value than on Wednesday, at the close of the Trinidad and Tobago Stock Exchange.
At the close, 17 securities traded up from 16 on Wednesday, with four rising, five declining and eight remaining unchanged. Calypso Macro Investment Fund and Massy Holdings closed trading at 52 weeks’ high. The Composite Index fell 2.67 points to settle at 1,429.12, the All T&T Index dropped 1.75 points to settle at 1,942.89 and the Cross-Listed Index shed 0.51 points to settle at 123.24.
Overall, 127,743 shares traded for $4,558,721 versus 35,457 units at $373,845 on Wednesday. An average of 7,514 units traded for $268,160, up from 2,216 shares at $23,365 on Wednesday, with trading month to date averaging 4,644 units at $110,938 versus 3,628 units at $55,256. The average trade for October amounts to 23,649 units at $227,589.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Agostini’s remained at $24.50, after 2,005 shares crossed the market, Ansa McAl fell 43 cents to $57.57 with 103 stocks trading, Calypso Macro Investment Fund rose 74 cents in closing at $17.75 in an exchange of 25 stock units. Clico Investment Fund remained unchanged at $26.99 with 12,798 units changing hands, First Citizens Group remained at $51 after exchanging 1,923 shares, GraceKennedy lost 13 cents to end at $6.10 with the swapping of 40,828 stocks. Guardian Holdings inched 1 cent, ending at $30.33 with an exchange of 21,064 units, JMMB Group dipped 1 cent to $2.23 after exchanging 7,097 stock units, Massy Holdings rose 5 cents to close at $90 trading 31,412 stocks. National Enterprises remained at $3.29, with 15 units changing hands, National Flour Mills traded 250 stock units at $1.90, One Caribbean Media closed at $4.75, with 1,065 shares crossing the market. Republic Financial Holdings remained at $136.47 in trading 1,254 stocks, Scotiabank had an exchange of 1,552 shares at $62.90, Trinidad & Tobago NGL shed 4 cents in closing at $18.31 in switching ownership of 466 units. Trinidad Cement dropped 9 cents in closing at $3.80 while exchanging 4,975 stock units and West Indian Tobacco advanced 20 cents to $30.50 after 911 stock units changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Across the board fall for JSE US$ stocks
Trading dived sharply on Thursday, with investors exchanging 93 percent fewer shares than on Wednesday, with 97 pompared to six on Wednesday, trading ended with seven securities changing hands, with one rising and six declining.
The JSE US Denominated Equities Index lost 2.16 points to end at 194.93.
The PE Ratio, a measure used in computing appropriate stock values, averages 12. The PE ratio is based on earnings forecasts done by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Overall, 99,799 shares traded for US$8,317, down from 1,508,978 units at US$273,924 on Wednesday. Trading averaged 14,257 units at US$1,188 versus 251,496 shares at US$45,654 on Wednesday and the month to date averages 117,547 at US$13,830 versus 162,736 units at US$19,360 on Wednesday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than its last selling price and three with lower offers.
At the close, First Rock Capital US fell 0.1 of a cent to 6.9 US cents with an exchange of 150 shares, Margaritaville dropped 0.45 of a cent to 9 US cents with 11,073 stock units passing through the market, Proven Investments lost 0.2 of a cent to end at 22.8 US cents with 27,763 units changing hands. Sterling Investments fell 0.09 of a cent to close at 2 US cents with 660 shares traded, Sygnus Credit Investments USD declined 0.01 of a cent to finish at 12.98 US cents with investors switching ownership of 3,504 stocks and Transjamaican Highway shed 0.04 of a cent to end at 0.84 US cents with 56,609 units crossing the exchange.
In the preference segment, JMMB Group 6% rose 3 cents to US$1.05 with 40 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Proven drives JSE USD market trading – Wednesday
Proven Investment ended trading as the standout stock, having exchanged the most shares for the day after it ended with an exchange of 1,018,190 shares on the US dollar market on Wednesday, as the trade pushed the overall volume exchanged up 827 percent higher than on Tuesday after 3,652 percent more funds, came into the market and resulted in rising stocks outnumbered declining ones.
Six securities traded on Wednesday compared to five on Tuesday, with prices of three rising, one declining and two ending unchanged.
The JSE US Denominated Equities Index rose 4.66 points to 197.09. The PE Ratio, a measure used in computing appropriate stock values averages 12.3. The PE ratio is based on earnings forecasted by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Overall, 1,508,978 shares traded for US$273,924 versus 162,849 units at US$7,301 on Tuesday. Trading averaged 251,496 units at US$45,654 compared to 32,570 shares at US$1,460 on Tuesday and the month to date averages 162,736 at US$19,360 versus 109,480 units at US$3,584 on Tuesday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than its last selling price and two stocks with lower offers.
At the close, First Rock Capital US rose 0.01 of a cent to finish at 7 US cents with 469,000 shares traded, Proven Investments lost 0.99 of a cent to settle at 23 US cents with 1,018,190 stock units changing hands, Sterling Investments ended unchanged at 2.09 US cents with 27 stocks passing through the market. Sygnus Real Estate Finance USD share increased by 1 cent to 15 US cents with a transfer of 568 units and Transjamaican Highway rallied 0.13 of a cent to close at 0.88 of a US cent with 11,193 shares crossing the exchange.
In the preference segment, JMMB Group 6% remained at US$1.02 with 10,000 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.