Trading on the Jamaica Stock Exchange US dollar market closed on Wednesday after an 87 percent slippage in the volume of shares traded from Tuesday with the value of stocks changing hands being fractionally lower, with an even number of stocks rising and falling.
Trading ended with six securities changing hands, the same number as on Tuesday, with prices of one rising, one declining and four ending unchanged.
The JSE US Denominated Equities Index gained 2.08 points to end at 195.57.
The PE Ratio, a measure that is used in computing appropriate stock values, averages 11.9. 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, 27,048 shares traded, for US$10,676 compared to 208,621 units at US$10,383 on Tuesday. Trading averaged 4,508 units at US$1,779 compared to 34,770 shares at US$1,731 on Tuesday and month to date averages 48,686 at US$4,327 versus 51,096 units at US$4,466 on Tuesday. September ended with an average of 853,681 units for US$132,197. Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and two with lower offers.
At the close, Proven Investments rallied 0.01 of a cent to end at 22.11 US cents with an exchange of 217 shares, Sterling Investments remained at 2.09 US cents with 100 stocks changing hands, Sygnus Credit Investments USD share settled at 12 US cents with 15,300 units traded. Sygnus Real Estate Finance USD share closed at 16 US cents with a transfer of 3,430 stock units and Transjamaican Highway dropped 0.01 of a cent to finish at 0.94 US cents with one stock crossing the exchange.
In the preference segment, JMMB Group 6% finished unchanged at US$1.02 with 8,000 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with six securities changing hands, compared to nine on Monday, with prices of one rising, three declining and two ending unchanged.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than their last selling prices and two stocks with lower offers.
dropped 871.55 points to 445,867.00, the JSE Main Index advanced 276.58 points to 403,527.57 and the JSE Financial Index added 0.25 points to 97.69.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and two with lower offers.
Proven Investments fell 45 cents to $33.02 after exchanging 931 stocks. Sagicor Group declined $1.57 to $51.40 with 2,912 units clearing the market, Scotia Group dipped 40 cents to $35.10 in exchanging 137,921 shares, Stanley Motta shed 95 cents to end at $4.95 after trading 500,000 stock units and Wisynco Group advanced $3.04 to end at 52 weeks’ high of $18.79 with the swapping of 619,145 shares.
Market activity led to 37 securities trading compared to 36 on Monday and ended with 18 rising, 10 declining and nine, closing unchanged.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and six closed with lower offers.
KLE Group fell 19 cents in closing at $1.16 after 19 stock units crossed the market, Lasco Manufacturing rallied 12 cents to $4.80, with 1,034 stock units clearing the market, Mailpac Group rose 6 cents to end at $3.80 in an exchange of 311,160 stocks. Main Event popped 32 cents to $4.20 in switching ownership of 450 shares and Medical Disposables advanced 27 cents to $5.25 in an exchange of 11,400 units.
At the close, 18 securities traded compared to 19 on Monday, with seven rising, four declining and seven closed unchanged. Massy Holdings ended trading at a 52 weeks’ high.
GraceKennedy remained at $6.35, with 160 shares changing hands. Guardian Holdings spiked $1.88 to $32 trading at 47,716 units, JMMB Group ended at $2.24 after 149 stocks crossed the market, Massy Holdings spiked $4.60 in closing at a 52 weeks’ high of $89.95 in trading 20,027 units. National Flour Mills dipped 5 cents to $1.90 in exchange of 1,260 stocks, NCB Financial Group declined 1 cent in closing at $8.14 with 25,370 shares changing hands, One Caribbean Media fell 6 cents to $4.80 with the swapping of 20 stock units. Prestige Holdings remained at $7.01 after exchanging 500 stocks, Republic Financial Holdings popped 6 cents to close at $135.76 after trading 200 stock units, Scotiabank traded 383 shares at $62. Trinidad & Tobago NGL spiked 43 cents to $18, with 620 units clearing the market, Trinidad Cement gained 1 cent in closing at $4.06 in trading 900 stocks and West Indian Tobacco remained at $30.95, with 19,610 units changing hands.
Most of the top 2021 stocks will not make the top 10 in 2022. The IC 80/20 rule, with a long 40 year history, shows an average of only two of the top ten stocks in a year repeat in the following one, while 4 out of 10 of the worst performing stocks will end up as TOP 10 winners in the succeeding year. The top seven stocks so far, with gains of 52 to 231 percent and three others gaining more than 100 percent are; Future Energy, Jamaican Teas, Fosrich, ISP Finance, Lumber Depot, Express Catering and Honey Bun. In the Main market, Caribbean Producers is 136 percent to date and is expected to deliver much more gains into 2022, Salada Foods rose 107 percent, Radio Jamaica has an increase of 103 percent, but investors can expect much more from this one but a lot is expected after the release of the September quarter results, Caribbean Cement is scheduled to release third quarter results next weekend, with the stock price up 88 percent for the year to date and Grace up 55 percent.
Elsewhere, Supreme Ventures released nine months results with 22 percent increased sales to $19.3 billion for the nine months but virtually flat third quarter sales of $6.3 billion with nine months profit slipping marginally from $1.55 billion to $1.54 billion and the third quarter falling from $596 million down to $311 million. Earnings per share ended at 57.7 cents and 11.8 cents for the quarter. AMG Packaging released full year results, with profits of $62.6 million, up from $56 million in 2020 with earnings per share of 12 cents. The quarterly profit was $20 after tax and, in 2020, $18.4 million after a tax credit. Construction of the new facility is complete, and machinery and equipment are ordered and is expected to be installed during the November quarter.
The top three stocks in the Junior Market are Elite Diagnostic, followed by Access Financial and Medical Disposables. All three have the potential to gain between 238 and 287 percent, from 220 percent and 300 percent previously.
50 percent discount to the market and well below the potential of 20. A total of 10 stocks or 22 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 25.5, suggesting that the accepted multiple maybe around 25 times the current year’s earnings.
Market activity led to 36 securities trading up from 32 on Friday and ended with 11 rising, 18 declining and seven unchanged.
At the close, Access Financial popped $2.45 to $19.70 with 3,000 shares clearing the market, Caribbean Assurance Brokers dropped 9 cents to $1.70 after exchanging 20,015 stock units, Caribbean Cream shed 20 cents to close at $5.90 after trading 142 stocks. Caribbean Flavours gained 5 cents to $1.94 while exchanging 51,037 units, Derrimon Trading advanced 8 cents to $2.40, with 254,993 shares crossing the exchange, Elite Diagnostic rose 19 cents to $3.29 after 21,243 stocks crossed the market. Express Catering lost 33 cents to $5 in an exchange of 78,275 units, Fontana increased 10 cents to $6.49 with 24,636 stock units changing hands, Fosrich spiked 20 cents in closing at $8.50 in trading 503,233 shares. GWest Corporation declined 12 cents to 83 cents in exchanging 59,347 units, Honey Bun fell 20 cents to $8.40 after exchanging 21,848 stock units, iCreate fell 6 cents to 97 cents with 2,692 stocks changing hands. Jamaican Teas climbed 6 cents to $4.45 in switching ownership of 254,158 stock units, KLE Group rallied 15 cents to $1.35 with an exchange of 53,319 stocks, Knutsford Express lost 85 cents at $7.20 with the swapping of 218 units.
Lasco Distributors dropped 30 cents to $3.60 after trading 6,065 shares, Mailpac Group declined 5 cents to close at $3.74 in exchanging 368,586 shares, Medical Disposables spiked 24 cents in closing at $4.98 while exchanging 2,500 units. Stationery and Office Supplies shed 30 cents in ending at $6.10 after trading 2,000 stocks, Tropical Battery gained 5 cents to end at $1.29, with 247,329 stock units crossing the market and tTech fell 45 cents to $4.25 crossing in trading 1,550 shares.
Trading averages 154,477 units at $2,156,124, compared to 185,973 shares at $1,921,279 on Friday and month to date, an average of 228,041 units at $2,573,940 compared to 232,419 units at $2,598,803 on Friday. September closed with an average of 335,669 units at $7,507,404.
Sagicor Group rose 97 cents to $52.97 with 50,333 units crossing the exchange, Sagicor Real Estate Fund gained 50 cents to $8.50 in switching ownership of 2,542 shares, Seprod picked up 20 cents at $63.70 in an exchange of 10,581 stock units and Sygnus Credit Investments fell 25 cents to $18.40 after 143,800 stocks crossed the market.
Trading ended with nine securities changing hands, compared to eight on Friday, with four rising, two declining and three ending unchanged.
Margaritaville fell 0.4 of a cent to 9 US cents with 17,350 stocks passing through the market, MPC Caribbean Clean Energy remained at US$1 with the 25 stock units changing hands. Proven Investments settled at 23 US cents with 3,612 units traded, Credit Investments USD share advanced 0.34 of a cent to finish at 12.99 US cents with investors switching ownership of 4,126 stock units, Sygnus Real Estate Finance USD rose 0.45 of a cent to 16.3 US cents with a transfer of 386 shares and Transjamaican Highway rallied 0.04 of a cent to close at 0.94 US cents with 3,697 units crossing the exchange.
At the close, 19 securities traded compared to 15 on Friday, with three stocks rising, six declining and ten remaining unchanged. The Composite Index dipped 2.23 points to 1,416.31, the All T&T Index declined 4.14 points to settle at 1,924.08 and the Cross-Listed Index slipped 0.03 points to 122.34.
JMMB Group shed 1 cent to end at $2.24 with the swapping of 5,248 stocks, L.J. Williams B share fell 4 cents to $1.30, with 700 stock units clearing the market, Massy Holdings rose 35 cents to a 52 weeks’ high of $85.35 while exchanging 2,263 shares. National Flour Mills declined 5 cents to $1.95 after an exchange of 240 stock units, NCB Financial Group ended at $8.15, with 2,981 shares changing hands, Point Lisas remained at $3 in exchanging seven stocks. Prestige Holdings inched 1 cent higher in closing at $7.01 after trading 28 units, Scotiabank remained at $62 in switching ownership of 3,820 stocks, Trinidad & Tobago NGL shed $1.22 to end at $17.57 with the swapping of 150 units and West Indian Tobacco ended at $30.95 after 13,791 shares cleared the market.
