JSE Main Market drops

Market activity ended on Thursday, with the volume of stocks traded rising 54 percent and the value 455 percent more than on Wednesday at the close of the Jamaica Stock Exchange Main Market as rising stocks were edged out by those declining.
The All Jamaican Composite Index lost 2,109.81 points to settle at 458,827.85, the JSE Main Index declined 1,867.86 points to close at 400,487.74 and the JSE Financial Index remained unchanged at 94.50.
Trading ended with 57 securities compared to 55 on Wednesday, with 21 rising, 24 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.5. 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, 20,316,947 shares were exchanged for $488,632,009 versus 13,212,264 units at $88,081,914 on Wednesday. Transjamaican Highway led trading with 5.40 million shares for 26.6 percent of total volume, followed by Wigton Windfarm with 2.90 million units for 14.3 percent of the day’s trade, Productive Business Solutions 9.75% preference share chipped in with 2.88 million units for 14.2 percent market share, Sagicor Select Financial Fund with 1.84 million units for 9.1 percent market share and QWI Investments with 1.38 million units for 6.8 percent market share.
Trading averages 356,438 units at $8,572,491, compared to 240,223 shares at $1,601,489 on Wednesday and month to date, an average of 242,886 units at $4,584,264, compared to 228,534 units at $4,080,209 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 nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments shed 55 cents to end at $89.35 in exchanging 5,007 shares, Berger Paints lost $1.05 in closing at $11.20, with 2,789 stocks crossing the exchange, Caribbean Cement declined $1.01 to $63.99, with 10,812 units clearing the market. Caribbean Producers fell 67 cents to end at $17.83 with an exchange of 913,139 stock units, Eppley advanced $1 to $46 while exchanging 454 units, Eppley Caribbean Property Fund increased 30 cents to end at $42.30 in switching ownership of 1,789 stock units. GraceKennedy lost $1.99 to $110.50 in trading 126,197 shares, Jamaica Broilers climbed $1.48 to close at $28.50, with 58,631 stocks changing hands, JMMB Group dropped 50 cents in closing at $46 after exchanging 214,420 units. Key Insurance fell 65 cents to $4.05 and closed with an exchange of 460,091 shares, Massy Holdings slipped 50 cents to $97, with 28,231 stock units crossing the market, MPC Caribbean Clean Energy rallied $15.26 in ending at $107.26 after trading 46 stocks. NCB Financial popped $3 in closing at $115 in an exchange of 129,265 units, 138 Student Living shed 85 cents to end at $4.40, with 898,887 stocks crossing the market, Palace Amusement declined $169.02 to close at $950 in exchanging 11 shares. PanJam Investment gained $1 to $67 with the swapping of 831,574 stock units, Sagicor Group declined $1.50 to end at $55 after trading 22,168 stocks, Salada Foods shed 38 cents in ending at $5.66 while exchanging 5,525 shares. Scotia Group rose 75 cents to $36.84 after exchanging 146,609 units, Supreme Ventures advanced 99 cents to close at $31 with an exchange of 290,748 stock units, Sygnus Credit Investments fell 50 cents to $16.50, with 123,725 shares crossing the market and Sygnus Real Estate Finance popped $1.64 to $16.80 after exchanging 5,200 units.
In the preference segmentProductive Business Solutions 9.75% preference share rallied $1.25 to $108.25, closing after 2,877,023 stocks changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main Market ekes out gains

On Wednesday, the value of funds flowing into the Jamaica Stock Exchange Main Market plunged 71 percent lower than Tuesday trade and led to a minor fall in the volume of stocks changing hands, with the market closing after declining stocks exceeded those rising.
The All Jamaican Composite Index rallied 506.16 points to 460,937.66, the JSE Main Index rose 667.03 points to 402,355.60 and the JSE Financial Index popped 0.18 points to settle at 94.50.
Trading ended with 55 securities compared to 53 on Tuesday, with 19 rising, 27 declining and nine ending unchanged.
Caribbean Cement closed at a 52 weeks’ low of $65, Mayberry Investments traded at an intraday 52 weeks’ high of $10 and Sterling Investments traded at an intraday 52 weeks’ low of $2.52.
The PE Ratio, a formula for computing appropriate stock values, averages 14.7. 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, 13,212,264 shares were exchanged for $88,081,914 versus 13,994,073 units at $299,292,536 on Tuesday. Trading averages 240,223 units at $1,601,489, compared to 264,039 shares at $5,647,029 on Tuesday and month to date, an average of 228,534 units at $4,080,209, compared to 226,911 units at $4,424,476 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Wigton Windfarm was the top traded stock with 3.97 million shares for 30.1 percent of total volume, followed by Transjamaican Highway with 2.14 million units for 16.2 percent of the day’s trade, Pulse Investments chipped in with 1.91 million units for 14.4 percent market share and Sagicor Select Financial Fund exchanged 1.42 million units for 10.7 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Caribbean Cement fell $1.50 to end at a closing 52 weeks’ low of $65 after trading at an intraday low of $60, with 294,882 shares changing hands, Carreras declined 15 cents to end at $9.80 in switching ownership of 227,026 stocks, Eppley shed $5.50 to close at $45 after an exchange of 542 units. Eppley Caribbean Property Fund advanced $2 in closing at $42 while exchanging 1,040 stock units, First Rock Capital lost 53 cents to end at $12.40 in trading 9,527 shares and GraceKennedy dropped $1.51 in closing at $112.49 in exchanging 9,851 stock units. Guardian Holdings rallied $4.99 to close at $515 after 15,264 stocks changed hands, Jamaica Broilers lost $1.48 to end at $27.02 after exchanging 29,977 units, Jamaica Producers rose 90 cents to $23.50, with 18,483 stocks crossing the exchange. JMMB Group declined 99 cents to $46.50, with 140,169 stock units crossing the market, Key Insurance increased 33 cents to $4.70 after exchanging 367,349 shares, Kingston Wharves shed 60 cents ending at $39.40, with 6,866 units crossing the market. Massy Holdings dropped 55 cents to close at $97.50 with the swapping of 1,323 stock units, Mayberry Investments fell 10 cents to end at $9 after exchanging 442,970 units, Mayberry Jamaican Equities gained 57 cents in closing at $15.58, with 69,259 stock units clearing the market. NCB Financial fell $4.90 to $112 with an exchange of 89,197 shares, Palace Amusement popped $159.02 in closing at $1119.02 trading five stocks, Portland JSX declined $2.05 to $8.65 after investors cleared the market of 1,500 shares. Proven Investments lost $1.77 to close at $36.21, with 10,782 stock units changing hands, Pulse Investments dropped 13 cents to $3.85, with 1,907,657 units crossing the exchange, Sagicor Group shed 50 cents to $56.50 in an exchange of 9,681 stock units. Scotia Group climbed $1.06 in closing at $36.09 after trading 6,536 units, Seprod dropped 51 cents to end at $72.49, with 18,923 stocks crossing the market, Stanley Motta lost 42 cents in ending at $5.03 after exchanging 13,642 shares. Supreme Ventures shed 99 cents to close at $30.01 with the swapping of 157,225 stock units, Sygnus Credit Investments climbed 50 cents to end at $17, with 59,533 stocks crossing the market, Victoria Mutual Investments fell 10 cents to $6 after exchanging 112,291 units and Wisynco Group popped 40 cents to close at $23.40 while trading 81,340 shares.
In the preference segmentCommunity & Workers Credit Union declined 15 cents to $1.80 in switching ownership of 63,678 units, Jamaica Public Service 9.5% shed $400 in closing at $2600 with an exchange of 314 shares and JMMB Group 7.25% preference share rose 60 cents in closing at $3.45 after trading 13 stock 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 segmentEppley 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.

JSE Main Market slides

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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 segmentEppley 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.

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.

Gains for JSE Main Market on Friday

On Friday, investors bought more shares on the Jamaica Stock Exchange Main Market but exchanged slightly less funds than on Thursday, resulting in rising stocks being edged out by stocks declining.
The All Jamaican Composite Index rallied 726.82 points to settle at 459,116.74, the JSE Main Index added 1,210.82 points to end at 401,715.42 and the JSE Financial Index dipped 0.09  points to settle at 93.33.
A total of 56 securities traded down from 58 on Thursday, with 23 rising, 25 declining and eight ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.5. 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, 10,706,458 shares were traded for $108,028,666 versus 9,854,877 units at $117,634,469 on Thursday. Wigton Windfarm led trading with 2.29 million shares for 21.4 percent of total volume, followed by Transjamaican Highway with 1.96 million units for 18.3 percent of the day’s trade and Sagicor Select Financial Fund 1.26 million units for 11.8 percent market share.
Trading averages 191,187 units at $1,929,083, compared to 169,912 shares at $2,028,180 on Thursday and month to date, an average of 217,015 units at $3,772,732, down from 223,359 units at $4,225,558 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 nine stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints rose $1.45 to end at $11.95, with 52,121 shares crossing the exchange, Caribbean Cement lost $1 in closing at $69, trading 10,358 stock units, Eppley Caribbean Property Fund jumped $4 to $49, with 13,702 units crossing the market. GraceKennedy rallied 50 cents to close at $111, with 127,161 stocks changing hands, Guardian Holdings fell $11 in ending at $520 after exchanging 2,194 shares, Jamaica Broilers popped 60 cents in closing at $28.70 after trading 16,277 stock units. Jamaica Producers dropped $1.70 to $22.25 in exchanging 7,694 stocks, Jamaica Stock Exchange shed 96 cents to $22.99 with the swapping of 554,842 units, JMMB Group declined 79 cents to close at $47 after trading 360,914 shares. Key Insurance lost 33 cents to end at $4.37, with 70,828 units clearing the market, Kingston Wharves declined 70 cents in closing at $39.25 while exchanging 5,099 stocks, Mayberry Jamaican Equities climbed $2.11 to close at a 52 weeks’ high of $14.30 in an exchange of 69,072 stock units. NCB Financial shed $2 to $106.50 in switching ownership of 41,032 stocks, Palace Amusement advanced $99.95 to end at $1100 after trading 58 shares, PanJam Investment gained $2.50 in ending at $67 with 47,723 units changing hands. Proven Investments popped 50 cents in closing at $38 in exchanging 30,451 stock units, Sagicor Group fell $2 to $55 with an exchange of 16,409 shares, Scotia Group dropped 44 cents to close at $35.01 after 20,087 stocks crossed the market. Supreme Ventures rose 46 cents to end at $29.96 in exchanging 233,006 units, Sygnus Credit Investments climbed 37 cents to $17 in switching ownership of 90,454 stock units and Wisynco Group fell $1 to $25 with an exchange of 704,723 units.
In the preference segmentEppley 7.50% preference share advanced 60 cents to $6.60, trading 2,687 stock units, JMMB Group 7.25% preference share gained 35 cents to end at a 52 weeks’ high of $3.84 while exchanging 1,011 stocks and Productive Business Solutions 9.75% preference share declined $1.26 to $106.99 with the swapping of 510 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Slight slip in JSE Main Market

Market activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded declining 16 percent and the value falling 70 percent from that of Wednesday, as rising stocks exceeded those declining.
The All Jamaican Composite Index shed 432.05 points to end at 458,389.92, the JSE Main Index fell 920.97 points to close at 400,504.59 and the JSE Financial Index fell 0.62 points to settle at 93.42.
Trading ended with 58 securities the same as  Wednesday, with 24 rising, 22 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.3. 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, 9,854,877 shares traded for $117,634,469 versus 11,782,128 units at $388,157,374 on Wednesday. Transjamaican Highway led trading with 1.63 million shares for 16.6 percent of total volume, followed by Wigton Windfarm with 1.52 million units for 15.4 percent of the day’s trade, Wisynco Group ended with 1.21 million units for 12.3 percent of market share and Sagicor Select Financial Fund with 1.05 million units for 10.7 percent market share.
Trading averages 169,912 units at $2,028,180, compared to 203,140 shares at $6,692,369 on Wednesday and month to date, an average of 223,359 units at $4,225,558, compared to 241,597 units at $4,975,252 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 seven stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Berger Paints rose 50 cents to end at $10.50, with 6,364 shares crossing the market, Eppley gained $1.95 to close at $42.10 after exchanging 545 stock units, Eppley Caribbean Property Fund lost $3.50 in ending at $45 after trading 553 stocks. First Rock Capital climbed $1.58 in closing at $13.23 while exchanging 15,054 units, GraceKennedy dropped 50 cents to $110.50, with 192,130 shares changing hands, Guardian Holdings increased $15.15 in closing at $531 in exchanging 1,874 units. Jamaica Broilers shed 90 cents to end at $28.10 with the swapping of 27,361 stock units, Jamaica Stock Exchange advanced $1.70 to close at $23.95 with an exchange of 125,272 stocks, Margaritaville popped 90 cents to $21 after exchanging 2,000 stock units. Mayberry Investments fell 43 cents after finishing at $8.82 with 8,303 shares changing hands, Mayberry Jamaican Equities rallied 79 cents to end at $12.19 after 157,430 units crossed the market, NCB Financial advanced $2.10 to $108.50 in trading 31,069 stocks. PanJam Investment declined $1.55 to close at $64.50 with the swapping of 73,167 stock units, Portland JSX shed $1 in closing at $11, with 675 shares crossing the exchange, Proven Investments lost 49 cents in ending at $37.50 after switching ownership of 37,192 units. Salada Foods gained 70 cents to $6.50, with 5,865 stocks clearing the market, Scotia Group rallied 45 cents to $35.45 in an exchange of 8,941 stock units, Seprod rose $10.05 to end at $73.05 after exchanging 124,121 stocks up to a 52 weeks’ intraday high of S80.57. Supreme Ventures dropped 50 cents in closing at $29.50, trading 229,819 shares and Wisynco Group climbed $1.80 to close at a 52 weeks’ high of $26 with 1,210,656 units changing hands.
In the preference segmentEppley 7.50% preference share fell $1.70 in closing at $6 while exchanging 55,741 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Slippage for JSE majors on Tuesday

Market activity ended Tuesday, with the volume of shares trading declining 15 percent, with a 42 percent lower value than on Monday at the close of the Jamaica Stock Exchange Main Market, as rising stocks edged out those declining.
The All Jamaican Composite Index dropped 305.20 points to 456,528.96, the JSE Main Index slipped 256.16 points to 399,793.50 and the JSE Financial Index dipped 0.06 points to settle at 94.66.
Trading ended with 59 securities compared to 53 on Monday, with 26 rising, 24 declining and nine ending unchanged.
The PE Ratio a measure that is used 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 the close of August 2023.
Overall, 13,458,702 shares were exchanged for $167,729,641 versus 15,830,208 units at $289,905,809 on Monday. Wigton Windfarm led trading with 2.33 million shares for 17.3 percent of total volume, followed by Sagicor Select Financial Fund with 2.16 million units for 16 percent of the day’s trade, Radio Jamaica chipped in with 2.14 million units for 15.9 percent of market share and Transjamaican Highway with 1.99 million units for 14.8 percent market share.
Trading averages 228,114 units at $2,842,875, compared to 298,683 shares at $5,469,921 on Monday and month to date, an average of 261,508 units at $4,086,031. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints lost 60 cents in closing at $11, trading 32,665 shares, Caribbean Cement dropped $3.95 to $67.15 while exchanging 31,080 units, First Rock Capital rallied $1.01 to close at $13.26 with an exchange of 26,604 stock units. GraceKennedy fell $1.95 to end at $107, with 764,383 stocks crossing the market, Jamaica Producers shed $1.45 in ending at $22.30 after an exchange of 56,875 stock units, JMMB Group declined 40 cents to $45.40 in switching ownership of 156,172 units, Kingston Wharves gained $4.50 in closing at $38.50 after 153,896 stocks crossed the exchange, Margaritaville declined $5.40 to $20.10 after exchanging 3,681 shares, Mayberry Jamaican Equities lost 60 cents to $11.40 in trading 245,372 shares. MPC Caribbean Clean Energy fell $8.75 to close at $102 in exchanging 199 stocks, NCB Financial popped $3.85 to $114.10 with 20,685 units clearing the market, Palace Amusement rose $95 to close at $1015 after finishing trading of 422 stock units. Portland JSX shed 40 cents in closing at $12 with the swapping of 69 units, Proven Investments advanced 88 cents to $37 and closed trading of 55,512 shares, Sagicor Group increased 48 cents to end at $57.97 after exchanging 130,033 stock units. Salada Foods dropped $1 to end at $5.69, with 45,609 stocks changing hands, Scotia Group climbed 33 cents to $36.13, with 241,414 shares crossing the market, Seprod shed $3.50 in closing at $58.30 in an exchange of 12,315 stock units. Sygnus Credit Investments declined 50 cents to $16.50 in exchanging 236,881 stocks, Sygnus Real Estate Finance rose $2.94 to close at $18.05 in switching ownership of 5,482 units, Wisynco Group increased 35 cents, ending at a 52 weeks’ high of $24.85 while exchanging 77,458 units.
In the preference segment138 Student Living Preference shares popped $6.01 to end at 52 weeks’ high of $16.51 after exchanging 50 stocks, Eppley 7.50% preference share rallied 70 cents in closing at $7.70, trading 117 stock units, Jamaica Public Service 9.5% gained $350 to $3000 with the swapping of 5 shares and Productive Business Solutions 9.75% Preference share advanced $15.70 to close at $117.70 in exchanging five shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main Market falls

In market activity on Monday, on the Jamaica Stock Exchange Main Market, the volume of shares trading inched fractionally higher than Friday after the value exchange rose 30 percent over Friday and resulted in declining stocks exceeding those rising.
The All Jamaican Composite Index fell 2,340.12 points to 456,834.16, the JSE Main Index fell by 1,808.72 to end at 400,049.66 and the JSE Financial Index rose 0.04 points to settle at 94.72.
Trading ended with 53 securities compared to 58 on Friday, with 18 rising, 23 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.4. The JSE Main and USD Market PE ratios computation incorporates ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
A total of, 15,830,208 shares were exchanged for $289,905,809 versus 15,475,154 units at $415,509,572 on Friday. Kingston Wharves led trading with 5.26 million shares for 33.2 percent of total volume, followed by Wigton Windfarm with 2.23 million units for 14.1 percent of the day’s trade. Pulse Investments chipped in with 1.56 million units for 9.8 percent market share, Transjamaican Highway traded 1.21 million units for 7.7 percent market share and 1834 Investments, 1.21 million units for 7.6 percent market share.
Trading averages 298,683 units at $5,469,921 compared to 266,813 shares at $7,163,958 on Friday. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and four stocks with lower offers.
At the close, Caribbean Cement declined $4.08 to $71.10, trading 20,681 shares, Eppley climbed $3.50 to end at $42.50 after exchanging 219 units, Eppley Caribbean Property Fund advanced $1 after ending at $47 and closed with 218 stocks changing hands. GraceKennedy gained $3.93 to close at $108.95 in trading 124,384 stock units, Jamaica Stock Exchange popped $1.50 in closing at $23.50 in exchanging 91,578 stocks, Kingston Wharves dropped $7.50 to close at $34, with 5,261,318 shares changing hands. NCB Financial fell $4.05 to $110.25 in exchanging 21,645 units, Palace Amusement shed $30.01 in ending at $920 while exchanging 13 stock units, Portland JSX rose $1.40 to end at $12.40 after finishing trading of 30 stock units. Proven Investments lost 38 cents in closing at $36.12 after 16,895 units passed through the market, Salada Foods increased 59 cents in a finish at $6.69 after 192,342 shares crossed the exchange, Scotia Group shed 40 cents to end at $35.80 with an exchange of 29,148 stocks. Supreme Ventures rallied $1 to $28.50, trading 523,606 units, Sygnus Credit Investments advanced 52 cents to close at $17 with the swapping of 164,871 stocks, Sygnus Real Estate Finance declined $1.19 in ending at $15.11 after switching ownership of 1,346 stock units and Wisynco Group rallied $1.50 in closing at $24.50 in an exchange of 106,590 shares.
In the preference segmentJamaica Public Service 9.5% fell by $397.50 to close at $2650 after 13,184 shares crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big gains for several ICTOP10 stocks

With just one third of 2022 elapsing, it is an excellent time to look at what the markets and ICInsider.com forecast have done. The Junior Market gained 29.85 percent to the end of April, or half of the entire year forecast of 60 percent, made at the start of the year and in the process, the market has surpassed the 29.7 percent gains it achieved in 2021 for the entire year.
The Main Market that ICInsider.com forecast to deliver a 14 percent rise for the year struggles to break from consolidation so far, with a rise of just 4.8 for the four months to April and is consistent with a 14 percent increase for the year. It is quite likely that the market PE could climb closer to a PE of 18, which will push the annual gains to around 30 percent if the financial stocks show good increases in profit for the year. That is a very likely situation as the hike in interest rates is driving net interest income sharply upwards.
At the beginning of the year, ICInsider.com stated, “the market is technically at a support level that is steering the index upwards. More importantly, it is caught in a triangular formation setting to push the market sharply upwards once it breaks out, which is not far off. The market is trading in a channel that goes back to May 2020, pointing to a record high of over 4,000 points in a few months.” So far, the above forecast is spot on.
In addition to the Top15 selection for each market at the start of the year, we added a few stocks. There were nine winning stocks with good gains. The list includes AMG Packaging 73 percent, Dolphin Cove 47 percent, Elite up 26 percent, Everything Fresh 83 percent, iCreate 263 percent, Jetcon 75 percent, Spur Tree Spices 215 percent, Stationery and Office Supplies 46 percent and Tropical Batteries up 124 percent for the year to date and up 64 percent since ICInsider.com added it was added to the TOP10 on February 25. Caribbean Cream, down 7 percent, is the only Junior Market stock selection to fall.
The big TOP15 winners for the Main Market are Caribbean Producers, up 42 percent, Jamaica Stock Exchange at 22 percent, JMMB Group at 16 percent and Proven at 14 percent. Berger Paints, down 7 percent, Jamaica Broilers, with a fall of 3 percent and Scotia Group, down one percent, are the only losers in this segment.
For the week, the only new listing to TOP10 is tTech replacing Jetcon, that held on to a gain of 16 percent to top the ICTOP10 Junior Market movers and dropped out of the TOP10, followed by Medical Disposables with 14 percent after a block of shares that was overhanging the market was taken out by buyers. AMG Packaging rose 9 percent, Caribbean Cream rose 6 percent and Caribbean Assurance Brokers shed 9 percent.
In the Main Market, Sygnus Credit Investments rose 8 percent to end at $16.48 and Caribbean Cement gained 6 percent to close at $75.18.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15, while the Junior Market PE for the Top 10 sits at 6.1 versus the market at 14.2. The Junior Market TOP10 is projected to gain an average of 239 percent to May 2023 and the Main Market 197 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. 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.

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