Rising stocks dominated trading over those declining at the close of market activity on the Jamaica Stock Exchange Main Market on Wednesday, following the trading of 53 securities similar to Tuesday, with 20 rising, 16 declining and 17 ending unchanged and leading to the volume of stocks traded rising 189 percent with a 16 percent increase in value over Tuesday.
Investors traded 18,798,375 shares for $73,598,833, up from 6,498,000 units at $63,227,582 on Tuesday.
Trading averaged 354,686 units at $1,388,657, versus 122,604 shares at $1,192,973 on Tuesday and month to date, an average of 164,430 units at $1,431,754 versus 153,373 units at $1,434,259 on the previous day. September closed with a much higher average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 12.52 million shares for 66.6 percent of total volume followed by Transjamaican Highway with 1.21 million units for 6.4 percent of the day’s trade and JMMB Group 7.5% closed with 788,231 units for 4.2 percent market share.
The All Jamaican Composite Index climbed 1,114.65 points to 402,126.05, but the JSE Main Index slipped 386.11 points to 351,278.97 and the JSE Financial Index rallied 0.15 points to settle at 84.69.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments declined 80 cents to $101.16 after an exchange of 3,272 shares, Caribbean Cement dipped 85 cents to $57.90 after a transfer of 4,574 units, Caribbean Producers rose 42 cents to end at $13.60 with investors transferring 40,723 stocks. First Rock Real Estate rallied 49 cents to close at $14.49 after trading 3,375 stock units, JMMB Group fell $1 in closing at $37.50, with 163,830 stock units crossing the market, Kingston Wharves advanced $1.05 to $36.25, with a change in ownership of 34,654 shares. Massy Holdings dropped $4.85 to close at $80.15, with 878 units crossing the exchange, Mayberry Investments fell 59 cents to $7.86 in trading 28,550 stocks, NCB Financial popped 80 cents in closing at $86 after an exchange of 217,528 stock units. PanJam Investment gained $1.88 to end at $56.88 in exchanging 1,554 stocks, Proven Investments shed $1.49 to close at a 52 weeks’ low of $28.51 as investors exchanged 25,450 shares, 
Sagicor Group increased 99 cents to end at $50.99 in an exchange of 1,933 units and Sygnus Real Estate Finance climbed $1.31 to $10.31 with the swapping of 2,941 units.
In the preference segment, 138 Student Living preference share shed $13.96 in closing at $46.04 in exchanging 100 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks inched higher on JSE Main Market
Almost twice as many stocks rose in trading on Tuesday than on Monday on the Jamaica Stock Exchange Main Market sending the overall market value higher, with the volume of stocks traded rising 15 percent after 33 percent more funds passed through the market than on Monday, with 53 securities trading compared to 59 on Monday, leading to 24 rising, 17 declining and 12 ending unchanged.
Investors traded 6,498,000 shares for $63,227,582 up from 5,633,077 units at $47,384,697 on Monday.
Trading averaged 122,604 units at $1,192,973, versus 95,476 shares at $803,130 on Monday and month to date, an average of 153,373 units at $1,434,259 compared to 155,272 units at $1,449,146 on the previous trading day. September closed with an average of 533,719 units at $5,494,282.
Transjamaican Highway led trading with 1.17 million shares accounting for 18.1 percent of total volume followed by Wigton Windfarm with 1.14 million units for 17.6 percent of the day’s trade and JMMB Group 7.5% with 562,083 units for 8.7 percent market share.
The All Jamaican Composite Index dipped 350.35 points to 401,011.40, the JSE Main Index increased 239.71 points to 351,665.08 and the JSE Financial Index dipped 0.02 points to settle at 84.54.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments rose $5.96 to end at $101.96, with 9,476 shares crossing the market, Caribbean Cement popped 65 cents to $58.75 after 14,442 stocks were traded, Caribbean Producers dipped 62 cents to $13.18 after trading of 164,065 stock units. GraceKennedy advanced 50 cents to $89, with 61,884 units crossing the market, Jamaica Producers dropped $1 to $19 in exchanging 3,369 stock units, JMMB Group rose 45 cents to close at $38.50 after an exchange of 341,509 units. Kingston Wharves fell $2.80 to $35.20 with the swapping of 20,659 stocks, Massy Holdings increased $3.90 in closing at $85, with 1,172 shares changing hands, Mayberry Investments rallied 45 cents to $8.45 with a transfer of 43,592 stock units. NCB Financial shed $1.30 to $85.20 in trading 60,828 units, Palace Amusement declined $12.19 to close at $827.81 with investors transferring ten shares, PanJam Investment climbed $2.25 to $55 after a transfer of 1,185 stocks. 
Proven Investments lost $2.09 to end at $30 in an exchange of 13,784 stock units, Sagicor Group shed 50 cents to end at $50 in switching ownership of 52,179 units, Scotia Group dipped 81 cents in closing at $36 after exchanging 19,291 shares. Seprod advanced 70 cents to close at $70.95 after trading 4,553 stocks and Stanley Motta popped 43 cents in closing at $5 after exchanging 3,787 stock units.
In the preference segment, 138 Student Living preference share lost $3.50 ending at $60 trading 77 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for the JSE Main Market
The Jamaica Stock Exchange Main Market activity ended on Monday with more stocks declining than rising and leading to sizable decline in the primary market indices after the volume of stocks traded declined 18 percent and after 62 percent more funds passed through the exchange than on Friday, as 59 securities traded compared to 58 on Friday, with 15 rising, 25 declining and 19 ending unchanged.
A total of 5,633,077 shares were exchanged for $47,384,697 versus 6,909,965 units at $29,190,379 on Friday.
Trading averages 95,476 units at $803,130, versus 119,137 shares at $503,282 on Friday and month to date, an average of 155,272 units at $1,449,146 compared with 159,682 units at $1,496,790 on the previous trading day. September closed with an average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 1.87 million shares for 33.2 percent of total volume followed by Transjamaican Highway with 776,390 units for 13.8 percent of the day’s trade and Sagicor Select Financial Fund with 458,952 units for 8.1 percent of market share.
The All Jamaican Composite Index lost 3,122.55 points to 401,361.75, the JSE Main Index shed 2,003.28 points to 351,425.37 and the JSE Financial Index lost 0.54 points to close at 84.56.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments lost $6.47 to end at $96 with 16,132 shares crossing the market, Caribbean Cement declined 65 cents to $58.10 in exchanging 4,823 stock units, Eppley shed $1.70 after ending at $38 with a transfer of 7,618 units. GraceKennedy dipped $1 in closing at $88.50 with 64,175 stocks changing hands, Jamaica Stock Exchange dropped 84 cents to close at $15.15 after trading 12,777 stock units, Key Insurance fell 54 cents to end at a 52 weeks’ low of $3.10 in an exchange of 920 stocks. Mayberry Investments advanced 60 cents to $8 with 68,331 units crossing the market, NCB Financial dropped $2.23 in closing at a 52 weeks’ low of $86.50 in transferring 221,710 shares, Palace Amusement rallied $10 to close at $840 in switching ownership of four shares. Proven Investments popped $1.54 to $32.09 while exchanging 8,618 stocks, Scotia Group rose $1.41 to close at $36.81 with 3,234 shares changing hands, Stanley Motta declined 43 cents to end at $4.57 in an exchange of 100 stock units and Sygnus Real Estate Finance fell $1.31 in closing at $9 with investors dealing in 350 stocks.
In the preference segment, Eppley 5% preference share climbed $5.55 to $23.40 with the swapping of one stock unit, 138 Student Living preference share increased $3.50 to $63.50 in transferring 63 units and Productive Business Solutions 9.75% preference share gained $33 in closing at $140 with an exchange of 243 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ drops to 3rd on Main Market TOP10
In a week when Junior Market made a modest move higher, the Main Market closed lower, and resulted in no new entrants into the IC top 10 lists, in a week when three stocks gained 10 percent or more and one with a 6 percent increase, with no significant declines.
Price changes worth noting include, Medical Disposables with a 12 percent rise to $5.79, Paramount Trading up 10 percent to $2.04 and Caribbean Assurance Brokers rising 6 percent to close the week at $2.59 in the Junior Market and Caribbean Producers gaining 11 percent to close the week at $13.93, to move from number one spot last week to third this week and Key Insurance rising 4 percent to $3.64 in the Main Market. Caribbean Cream earnings per share were reduced to 70 cents for the year to February from 80 cents previously.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.7. At the same time, the Junior MarketTop 10 PE sits at 5.8 versus the market at 12.5, essential indicators of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main Market TOP10 by an average of 247 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 15 to 36, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the Main Market is similar, with the 15 highest valued stocks priced at a PE of 16 to 78, with an average of 26 and 22 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market but not always. 
ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments 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, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting 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.
Trading sank on JSE Main Market
Trading Market activity on the Jamaica Stock Exchange Main Market ended on Friday, sank to depressed levels, with the volume traded rising 71 percent, with a 75 percent lower value than on Thursday, following the trading of 58 securities, up from 54 on Thursday, with 18 rising, 24 declining and 16 ending unchanged.
Investors showed hesitance in buying stocks, trading 6,909,965 shares for $29,190,379 versus 4,041,001 units at $117,403,602 on Thursday.
Trading on Friday averaged 119,137 shares at $503,282 compared with 74,833 units at $2,174,141 on Thursday and month to date, an average of 159,682 units at $1,496,790 down from 162,851 units at $1,574,449 on the previous day. September closed with an average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 1.76 million shares for 25.5 percent of total volume, followed by Pulse Investments with 1.60 million units for 23.2 percent of the day’s trade and JMMB Group 7.35% – 2028 with 963,038 units for 13.9 percent market share.
The All Jamaican Composite Index dropped 1,103.98 points to 404,484.30, the JSE Main Index fell 669.30 points to 353,428.65 and the JSE Financial Index remained unchanged at 85.10.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments popped 57 cents to $102.47 after swapping 15,273 stock units, Caribbean Cement rallied 75 cents to close at $58.75, with 472 units crossing the exchange. Caribbean Producers increased 43 cents in closing at $13.93, with 14,795 stocks changing hands, Eppley Caribbean Property Fund gained $1.01 to end at $39.02 after trading 500 stock units, First Rock Real Estate dropped $1.19 to close at $14.16 with 2,000 units changing hands. GraceKennedy dipped 50 cents, ending at $89.50, with 27,637 stocks clearing the market, Guardian Holdings rose $3.98 to $500 in switching ownership of 50 shares, Jamaica Producers advanced $1 to $20 as investors exchanged 7,669 stocks. Margaritaville shed $2.90 to $22.60 after trading 99 stock units, Massy Holdings declined $3.89 in closing at $81.11 in trading 111 units, Mayberry Investments fell 60 cents to close at $7.40 with investors transferring 1,011 shares. NCB Financial lost $1.26 after ending at $88.73 in an exchange of 2,531 stock units, PanJam Investment fell $4.28 to end at $52.71 as 5,029 stocks were exchanged, Proven Investments rallied 50 cents to $30.55, with 6,065 units crossing the market. 
Sagicor Group increased 50 cents ending at $50.50 with an exchange of 3,010 shares, Seprod declined $1.06 to end at $69.94 with a transfer of 14,416 units and Wisynco Group dipped 48 cents to close at $17.92 in exchanging 84,013 stocks.
In the preference segment, Jamaica Public Service 9.5% dropped $100 in closing at $2,900 after a transfer of one share, JMMB Group 7.25% preference share climbed 40 cents to $3.19 after an exchange of 52 stock units and Productive Business Solutions climbed $50 to $1150 while exchanging nine shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE Main Market
The Jamaica Stock Exchange Main Market trading ended on Thursday with moderate activity after an 81 percent fall in the volume of stocks exchanged valued 155 percent more than on Wednesday, following activities in 54 securities trading down from 56 on Tuesday, with 19 rising, 17 declining and 18 ending unchanged.
Only 4,041,001 shares were traded for $117,403,602 against 21,251,911 units at $46,083,372 on Wednesday.
Trading averaged 74,833 units at $2,174,141 comaped to 379,498 shares at $822,917 on Wednesday and month to date, an average of 162,851 units at $1,574,449, versus 169,759 units at $1,527,381 on the previous trading day. Trading in September averaged 533,719 units at $5,494,282.
Caribbean Cement led trading with 1.54 million shares for 38 percent of total volume followed by Wigton Windfarm with 458,464 units for 11.3 percent of the day’s trade and Transjamaican Highway with 322,834 units for 8 percent market share.
The All Jamaican Composite Index rose 714.74 points to 405,588.28, the JSE Main Index rallied 850.71 points to 354,097.95 and the JSE Financial Index advanced 0.09 points to settle at 85.10.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. 
The JSE Main and USD Market PE ratios incorporate ICInsider.com’s projected profit for companies with the financial year ending between November and August 2023.
The Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments declined $1.30 to $101.90, with 3,571 shares clearing the market, Caribbean Producers shed 48 cents in closing at $13.50 as investors exchanged 70,015 stocks, Eppley increased $1.20 to $39.70, with 30 stock units crossing the market. GraceKennedy fell 41 cents to $90 after trading 90,926 units, Massy Holdings gained $4.97 to end at $85 in 431 stocks crossing the exchange, NCB Financial climbed $1.19 to close at $89.99 in exchanging 31,552 stock units. Palace Amusement dipped $10 to $830 in trading 37 shares, PanJam Investment popped 49 cents to $56.99 while exchanging 21,084 units, Portland JSX rallied 91 cents to $9.97 with the swapping of just four stock units. 
Sagicor Group dropped 50 cents in closing at $50 with 31,210 stocks traded, Seprod rose $2 to $71 in exchanging 6,536 shares, Supreme Ventures advanced 40 cents to $27.50, with 72,865 units changing hands and Wisynco Group lost 70 cents to close at $18.40 after exchanging 8,716 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Winners beat losers on JSE Main Market
Trading volume jumped sharply by 186 percent on the Jamaica Stock Exchange Main Market on Wednesday, with the value of stocks traded falling 46 percent lower than on Tuesday, following trading in 56 securities compared to 60 on Tuesday, with prices of 26 rising, 19 declining and 11 ending unchanged.
Palace actual gain is $40.
A total of 21,251,911 shares were exchanged for just $46,083,372 compared with 7,422,777 units at $85,555,430 on Tuesday.
Trading averaged 379,498 units at $822,917, down from 123,713 shares at $1,425,924 on Tuesday and month to date, an average of 169,759 units at $1,527,381 compared to 151,175 units at $1,589,801 on the previous day. September closed with an average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 16.87 million shares for 79.4 percent of total volume followed by Transjamaican Highway with 1.18 million units for 5.5 percent of the day’s trade and Caribbean Producers with 880,504 units for 4.1 percent market share.
The All Jamaican Composite Index shed 1,165.48 points to close at 404,873.54, the JSE Main Index fell 906.66 points to 353,247.24 and the JSE Financial Index declined 0.55 points to settle at 85.01.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Producers rallied $1 to $13.98, with 880,504 shares crossing the market, First Rock Real Estate popped $1.27 to $15.40 in trading 50,070 stock units, GraceKennedy gained $1.71 to end at $90.41 as investors exchanged 36,305 units. Guardian Holdings declined $3.98 to $496.02 and closed after ten stocks were exchanged, Jamaica Broilers dropped 41 cents in closing at $29.14 in exchanging 10,212 units, Jamaica Stock Exchange rose 47 cents to end at $15.99 in switching ownership of 3,500 stocks. JMMB Group dipped 40 cents to $38.10 with an exchange of 13,949 shares, Kingston Wharves fell $1 in closing at $38 while exchanging 1,297 stock units, Margaritaville popped $4.15 to close at $25.50 in trading two units. 138 Student Living climbed 73 cents to $5.50, with 260 stock units crossing the exchange, Palace Amusement climbed $40 to $840 after just two shares changed hands, PanJam Investment rose $1.50 to $56.50 in an exchange of 11,455 stocks. Proven Investments shed $2.25 to $30.13 after an exchange of 4,093 units, Sagicor Group gained 50 cents in closing at $50.50 after exchanging 6,657 shares, and trading at a 52 weeks’ intraday low of $49.90. Scotia Group lost 40 cents to close at $35.60, with 100,649 stock units clearing the market, 
Seprod declined $1.95 to $69, with 2,447 stocks crossing the market, Stanley Motta increased 44 cents in ending at $5 with the swapping of 9 stock units and Wisynco Group popped 95 cents to $19.10 with a transfer of 11,410 stocks.In the preference segment, 138 Student Living preference share shed $4 to close at $60 after exchanging 58 shares and Productive Business Solutions 9.75% preference share lost $19.59 in closing at $107 after a transfer of 307 units.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market slips on Tuesday
The Main Market of the Jamaica Stock Exchange slipped at the end of trading on Tuesday, with the volume of stocks traded declining 19 percent with a marginally higher value than on Friday, after dealing in 60 securities compared to 57 on Friday, with 21 rising, 23 falling and 16 ending unchanged.
Palace gained $69.98 on Monday.
A total of 7,422,777 shares were traded for $85,555,430 versus 9,143,240 units at $81,104,853 on Friday.
Trading averaged 123,713 units at $1,425,924, versus 160,408 shares at $1,422,892 on Friday and month to date, an average of 151,175 shares at $1,589,801, compared to 154,055 units at $1,606,991 on the previous trading day. September closed with an average of 533,719 units at $5,494,282.
Wigton Windfarm led trading with 2.16 million shares for 29.1 percent of total volume, followed by Transjamaican Highway with 1.36 million units for 18.3 percent of the day’s trade, Sagicor Select Financial Fund with 1.14 million units for 15.3 percent market share and Caribbean Cement with 1.0 million units for 13.5 percent of the total volume.
The All Jamaican Composite Index fell 335.04 points to 406,039.02, the JSE Main Index declined 1,583.59 points to 354,153.90 and the JSE Financial Index slipped 0.08 points to settle at 85.56.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
The Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments dropped $1.30 to $102.90 after a transfer of 7,233 shares, Berger Paints advanced 44 cents to $11.24 with a transfer of 352 stocks, Caribbean Cement declined $1.50 to close at $58 after trading 1,003,552 units. Caribbean Producers popped 48 cents in closing at $12.98, with 90,985 stock units crossing the exchange, Eppley Caribbean Property Fund fell $1.99 to $38.01 after trading 1,404 units, GraceKennedy dipped $1.30 to $88.70 with investors transferring 70,957 stocks. Kingston Wharves rose $1 to $39, with 8,662 shares changing hands, Margaritaville increased $1.95 in closing at $21.35 after an exchange of two stock units, Massy Holdings shed $3.97 to close at $80.03 as investors exchanged 1,748 stocks. MPC Caribbean Clean Energy rallied $1.60 to $84 after switching ownership of 821 stock units, NCB Financial lost 50 cents in closing at $88.50 and exchanging 30,501 units, 138 Student Living declined 73 cents to $4.77 with the swapping of 894 shares. Palace Amusement jumped $69.98 to $800 in trading seven shares, PanJam Investment shed $1 to end at $55 after 764 stocks were traded, Proven Investments climbed $1.38 to close at $32.38, with 3,060 stock units crossing the market. Sagicor Group dropped 50 cents to close at $50, with 18,075 units clearing the exchange, Scotia Group rallied 45 cents to $36 with an exchange of 5,245 shares, Stanley Motta dipped 44 cents to $4.56 after exchanging 3,740 units. 
Sygnus Credit Investments USD share increased $1.31 to $14.37 in an exchange of 824 stock units, Sygnus Real Estate Finance rose 75 cents to 10 in exchanging 1,000 stocks and Wisynco Group fell $1.05 to $18.15 while trading 64,845 stocks.
In the preference segment, 138 Student Living preference share fell $3 to $64 after trading 60 stock units and Productive Business Solutions 9.75% preference share gained $19.44 to close at $126.59 as investors exchanged 98 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ jumps to top ICTOP10 Main Market
In a week when markets closed lower, there were two changes to the IC top 10 lists, with Jetcon Corporation and Lasco Manufacturing falling out and Iron Rock Insurance and Paramount Trading returning as Caribbean Producers surged to the top of the Main Market ICTOP10, following the release of record full year results, with earnings of 6.8 US cents per share or approximately J$1.05, with a projection off J$2.75 for the fiscal year ending June 2023.
Price changes in both markets were relatively small, with Jetcon Corporation gaining 4 percent to close the week at $1.10, while Caribbean Cream declined 6 percent to $4.06 and Dolphin Cove fell by 4 percent to $13. In the Main Market, Sygnus Credit Investments lost 5 percent to end at $13.40, the only noticeable change.
At the end of the week, the average PE for the JSE Main Market TOP10 is 6.2, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.6 versus the market at 12.7, an important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 263 percent, and the Main Market TOP10 projected to gain an average of 250 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 16 to 37, averaging 21 compared with the above-average market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the main market is similar, with the 15 highest valued stocks priced at a PE of 15 to 80, with an average of 25 and 21 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments 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, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to gains are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Steady trading on the JSE Main Market
Main Market trading was steady on Friday, with the volume and value of stocks traded close to Thursday’s levels after trading took place in 57 securities compared to 58 on Thursday on the Jamaica Stock Exchange Main Market and ended, with 19 rising, 21 declining and 17 ending unchanged.
A total of 9,143,240 shares were exchanged for $81,104,853 compared with 10,652,600 units at $71,783,616 on Thursday. Trading averaged 160,408 units at $1,422,892, versus 183,666 shares at $1,237,649 on Thursday and month to date, an average of 154,055 units at $1,606,991, compared to 153,352 units at $1,627,367 on the previous trading day. September closed with an average of 533,719 units at $5,494,282.
Transjamaican Highway led trading with 1.80 million shares for 19.6 percent of total volume followed by Wigton Windfarm with 1.47 million units for 16.1 percent of the day’s trade, Caribbean Producers ended with 1.26 million units for 13.8 percent of trading and QWI Investments with 1.19 million units for 13 percent market share.
The All Jamaican Composite Index fell 500.21 points to 406,374.06, the JSE Main Index declined 358.44 points to 355,737.49 and the JSE Financial Index dipped 0.04 points to 85.64.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments declined $2.04 ending at $104.20 clearing the market with 181,009 units, Caribbean Cement rose 50 cents to close at $59.50 after a transfer of 37,879 stocks. Caribbean Producers fell 64 cents to end at $12.50 while exchanging 1,258,697 stock units, Eppley lost 50 cents to end at $38.50 in exchanging 230 stock units, Eppley Caribbean Property Fund dipped $4 to close at $40, with 11,184 shares crossing the exchange. Guardian Holdings dropped $5 to $500 with an exchange of 752 stocks, JMMB Group increased 45 cents in closing at $38.45 with investors transferring 14,379 units, Massy Holdings advanced $1.50 to end at $84, seven shares changing hands. NCB Financial fell $1 to $89 in switching ownership of 33,107 stock units, Palace Amusement lost $19.98 to close at $730.02 after trading four units, PanJam Investment dipped $1 to $56 after 1,206 stocks crossed the market. Proven Investments popped $1 to end at $31 after exchanging 501 stock units, Sagicor Group rallied 50 cents in closing at $50.50 after 99,108 stocks changed hands, Scotia Group climbed 55 cents after ending at $35.55 in trading 60,131 shares. 
Sygnus Real Estate Finance declined $1.05 to close at $9.25 as investors exchanged 200 units and Wisynco Group gained 70 cents in ending at $19.20 with a transfer of 18,537 stocks.
In the preference segment, 138 Student Living preference share shed $1 to end at $67 after trading 36 stock units and Productive Business Solutions shed $49 in closing at $1100 in an exchange of 450 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.