Big recovery for Junior Market

The Junior Market of the Jamaica Stock Exchange clawed back a fair bit of the losses incurred since last week following the announcement of Regency Petroleum IPO, with the Index rallying 82.24 points to settle at 3,880.06 on Thursday, following a 64 percent fall in the volume of stocks traded, after a 29 percent decline in the value compared to Wednesday with 41 securities trading the same as on Wednesday and ended with 19 rising, 18 declining and four closing unchanged.
A total of 5,141,385 shares were traded for $17,482,988, down from 14,142,422 units at $24,762,456 on Wednesday.
Trading averaged 125,400 shares at $426,414 compared with 344,949 units at $603,962 on Wednesday. Trading for the month to date, averages 275,458 stock units at $741,310 against 283,956 shares at $759,143 on the previous day. October closed with an average of 264,407 units at $832,036.
Dolla Financial led trading with 645,519 shares for 12.6 percent of total volume followed by Fosrich with 625,021 units for 12.2 percent of the day’s trade and Spur Tree Spices with 546,327 units for 10.6 percent market share. ISP Finance closed at a 52 weeks’ low of $14.98.
The PE Ratio, a measure of computing appropriate stock values, averages 12.1. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
The Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial popped $2.35 to close at $23 with 9,800 shares clearing the market, Blue Power dipped 12 cents to $3.05 in exchanging 527 stocks, Cargo Handlers climbed $1.50 to end at $11.50 with the transfer of 4,087 units. Dolla Financial advanced 12 cents to $3.28 as investors traded 645,519 stock units, Dolphin Cove rose 11 cents in closing at $13.11 after trading 86,622 shares, Everything Fresh rose 12 cents to settle at $1.48 after 7,632 units passed through the market. Fontana shed 20 cents to close at $8.50 with 223,272 stock units changing hands, General Accident gained $1 to $5 in switching ownership of 7,002 stocks, Honey Bun lost 10 cents to end at $6.50 with 10,506 stock units trading. Knutsford Express rallied 78 cents to close at $8.63 after trading 1,014 stocks, Lasco Manufacturing popped 10 cents to $3.90 in exchanging 109,140 units, Main Event advanced $1.26 to $9.99 with 7,876 shares crossing the exchange. Medical Disposables rallied 13 cents to $4.45 in trading 25,000 stocks, MFS Capital Partners advanced 10 cents to $2.70 as investors exchanged 444,181 units, Spur Tree Spices gained 11 cents to end at $2.98 with the swapping of 546,327 shares. Stationery and Office Supplies rose $2 to $17 in exchanging 2,000 stock units, Tropical Battery dropped 14 cents to $2.36 after a transfer of 475,316 stocks and tTech rose 41 cents to close at $2.78 with investors transferring one stock unit.
In the preference segmentCAC 2000 9.5% preference share declined 20 cents to 90 cents after trading 26,335 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Falling stocks outgun rising ones

Trading dropped on the Junior Market of the Jamaica Stock Exchange on Tuesday with a 33 percent fall in the volume of stocks exchanged with a 5 percent fall in value compared to Monday after 41 securities were traded versus 43 on Monday and ended with 14 rising, 21 declining and six closing unchanged.
A total of 6,978,401 shares were traded for  22,507,207 compared to 10,381,562 units at $23,676,379 on Monday.
Trading averaged 170,205 shares at $548,956 compared to 241,432 units at $550,613 on Monday, with the month to date, averaging 280,295 shares at $768,458 compared to 287,326 stock units at $782,476 on the previous day.  October closed with an average of 264,407 units at $832,036.
Fosrich led trading with 2.29 million shares for 32.8 percent of total volume followed by Dolla Financial with 1.13 million units for 16.2 percent of the day’s trade and Lasco Financial with 668,804 units for 9.6 percent market share.
At the close, the Junior Market Index lost 11.12 points to settle at 3,819.27.
The PE Ratio, a measure used in computing appropriate stock values, averages 12. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
The Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial fell 10 cents to end at $20.65 with an exchange of 142 shares, AMG Packaging rose 29 cents to $3 in an exchange of 800 stock units, Blue Power fell 42 cents to $2.68 after trading resulted in 29,743 stocks passing through the market. Consolidated Bakeries popped 40 cents to close at $2.30 after 100 units were exchanged, EduFocal climbed 11 cents in closing at $2.40, with 310,958 shares changing hands, Elite Diagnostic dropped 20 cents in ending at $3.30 after 6,147 stocks crossed the market. Fosrich declined 17 cents in closing at $3.90 while exchanging 2,287,140 stock units, Future Energy Source dipped 15 cents to $4.96 with an exchange of 184,786 units, Iron Rock Insurance rallied 27 cents to end at $2.57 as 150 stocks crossed the exchange. Knutsford Express shed $1.19 to close at $7.80 as investors exchanged 256 stock units, Lasco Financial gained 15 cents to close at $3.08 trading 668,804 units, Lasco Manufacturing shed 18 cents in closing at $3.80 after a transfer of 109,388 shares. Medical Disposables fell 20 cents to a 52 weeks’ low of $4.90 with investors transferring 7,000 stocks, Spur Tree Spices lost 10 cents to close at $2.84, with 398,706 units clearing the market and Stationery and Office Supplies dropped $1.25 to end at $14.75 with the swapping of 6,923 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

 

Junior Market drops again

Trading picked up a bit on the Junior Market of the Jamaica Stock Exchange on Monday, with a 16 percent rise in the volume of stocks traded after 12 percent more funds passed through the market than on Friday following trading in 43 securities up from 42 on Friday and ended with 19 rising, 17 declining and seven closing unchanged.
A total of 10,381,562 shares were exchanged for $23,676,379 up from 8,983,578 units at $21,220,946 on Friday.
Trading averaged 241,432 shares at $550,613 compared with 213,895 units at $505,261 on Friday with a month to date average of 287,326 units at $782,476 compared to 290,620 stock units at $799,120 on the previous trading day. October averaged 264,407 units at $832,036.
ONE on ONE Educational led trading with 4.75 million shares for 45.7 percent of total volume followed by Dolla Financial with 1.66 million units for 16 percent of the day’s trade and Spur Tree Spices with 981,468 units for 9.5 percent market share.
At the close, the Junior Market Index dipped 41.57 points to settle at 3,830.39.
The PE Ratio, a measure of computing appropriate stock values, averages 12.1. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
The Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, AMG Packaging dipped 44 cents to $2.71 after closing with 11,625 shares changing hands, Blue Power rose 43 cents in closing at $3.10 in trading 3,104 units, CAC 2000 declined $1.24 to close at $7.06 with investors transferring 325 stocks. Consolidated Bakeries lost 45 cents to end at $1.90 after trading 7,000 stock units, Dolla Financial fell 17 cents to $3.12, with 1,664,774 stock units crossing the market, Dolphin Cove dropped 40 cents in closing at $13.20, with 10,018 stocks changing hands. EduFocal shed 16 cents to close at $2.29 after 64,416 units crossed the exchange, Elite Diagnostic gained 15 cents in ending at $3.50 after an exchange of 10,292 shares, Express Catering popped 20 cents to $5 after investors traded 12,565 stock units. Fosrich lost 13 cents to end at $4.07 while exchanging 589,096 stocks, Future Energy Source rallied 11 cents to end at $5.11 with the swapping of 220,888 units, General Accident declined 90 cents to $4 with a transfer of 5,513 shares. ISP Finance dropped $3.49 to close at $15.01 with an exchange of 972 stocks, Jetcon Corporation shed 11 cents in closing at $1.08 as investors exchanged 11,041 units, JFP Ltd climbed 10 cents to $1.50, with 614,991 shares clearing the market. Knutsford Express advanced 99 cents to $8.99, with 1,100 stock units crossing the market, Lasco Financial increased 22 cents to $2.93 in exchanging 82,406 stock units, Lasco Manufacturing increased 18 cents to $3.98 after a transfer of 15,194 units. Limners and Bards climbed 11 cents to end at $2.78 in switching ownership of 238,825 shares, Lumber Depot rallied 27 cents to close at $2.50 while 113,008 stocks passed through the market, Main Event jumped $1.45 to $10 after exchanging 63,235 stock units. Medical Disposables dipped 25 cents to $5.10 after trading 3,000 shares, MFS Capital Partners popped 18 cents to end at $2.79 as 62,636 units passed through the market and Paramount Trading advanced 28 cents in closing at $1.80, with 1,019 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Regency, Lasco Financial &138SL Stocks to Watch

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Regency Petroleum is added to the Stocks to Watch following the release of its prospectus On Thursday with an issue price of $1, with the possibility of the price hitting over $2 initially. Palace Amusement is dropped for the time being with the company reporting improved results in the September quarter but still ending with a loss, but investors should be on the lookout for good things from the stock in the future as it continues to make headway to recovery.
Barita Investments and Consolidated Bakeries are removed from the list at this time with recent results suggesting that they are unlikely to move higher in the short term.
ICInsider.com watch list comprises Access Financial, Caribbean Assurance Brokers, Dolphin Cove, Caribbean Producers, Elite Diagnostic, Everything Fresh, General Accident, Guardian Holdings, Jamaica Broilers, Key Insurance, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Medical Disposables, NCB Financial, 138 Student Living, One on One, Paramount Trading, Regency Petroleum, Scotia Group, Stationery and Office Supplies and Wisynco.
Major factors to consider going forward. The rebound in tourist arrivals only came back to 2019 levels since June. Providing there are no reversals, then companies who are highly dependent on the sector will enjoy a big bounce for the next nine months compared to the lower business generated since last year to April this year. The same applies to the entertainment industry as the sector only opened up after March this year. Banks will make a fortune from increased interest rates.

Persons who compiled this report may have an interest in securities commented on.

Major shake up of ICTOP10

The Jamaica stock market got hit in the past week as a new Initial Public offer of Regency Petroleum shares open to the public on Thursday. The market decline is now a very pronounced feature of the market as investors seek funds to invest in the new issue and pressure prices of existing stocks and provides opportunities for savvy investors to pick up stocks at depressed prices for the eventual rally after the IPO closes.

NCB Financial Group is now back in the ICTOP10

The pricing of the IPO issue does not provide enough likely gains for it to make the ICTOP10, but it is included in the Stocks to Watch as the price is expected to jump and deliver a decent profit.
In the past two weeks, several company results were released to the public, with varying outturns, some of which led to adjustments to earnings per share for the current fiscal year. Sterling Investments and VM Investments earnings were adjusted downward and fell out of the TOP 10 and were replaced by NCB Financial Group and Key Insurance. Earnings for Berger Paints and JMMB Group were also revised downward, but they remain in the Main Market TOP10. Access Financial and Iron Rock Insurance return to the Junior Market TOP10 as General Accident and Medical Disposables dropped out.
Seven stocks in the Junior Market TOP10 declined between 3 percent and 20 percent, with only one rising. The Main Market list had two stocks gaining for a second week and six declining between four and nine percent.
Notable price changes during the week include Paramount Trading that dropped 20 percent to an attractive $1.52, Elite Diagnostic and Lasco Financial dipping 10 percent to close at $3.35 and $2.71, respectively, Lasco Distributors lost 10 percent to $3.10 and Caribbean Cream fell 4 percent to $3.86.
In the Main Market, Guardian Holdings rose 10 percent to $550. VVM Investments dropped 7 percent to $4.07 while JMMB Group and 138 Student Living fell 9 percent to $34 and $4.50, respectively, Jamaica Broilers and VM Investments fell 7 percent to $26.35 and $4.07, respectively and Radio Jamaica lost 5 percent in closing at $1.91.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 5.8 versus the market at 12, important indicator of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 247 percent and the Main Market TOP10, an average now of 275 percent, to May 2023.
The Junior Market has 13 stocks representing a third of the market, with PEs from 15 to 30, averaging 20 compared with the above average of the market. The top half of the market has an average PE of 17. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the Main Market is similar, with the 16 highest valued stocks priced at a PE of 15 to 90, with an average of 27 and 22.6 excluding the highest valued one and 19.4 for the top half excluding the highest valued stock.
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.

Falling Junior Market stocks clobber gains

The Junior Market of the Jamaica Stock Exchange dropped again on Thursday, with prices of 29 stocks falling and only eight rising, following the issue of the prospectus for Regency Petroleum today, with the volume of stocks traded rising 355 percent with the value surging 438 percent over Wednesday’s trades and ending with 46 securities trading up from 40 on Wednesday and ending with only nine trading unchanged.
A total of 35,681,537 shares were traded for $109,696,406 up from 7,838,155 units at $20,403,040 on Wednesday.
Trading averaged 775,686 shares at $2,384,704 compared to 195,954 units at $510,076 on Wednesday, with the month to date averaging 296,406 units at $821,279 compared with 253,261 stock units at $680,540 on the previous day. October closed with an average of 264,407 units at $832,036.
Dolla Financial led trading with 21.01 million shares 58.9 percent of total volume, followed by ONE on ONE Educational with 2.86 million units for 8 percent of trading, JFP Ltd was next with 2.15 million units for 6 percent market share, followed by KLE Group with 2.15 million units for 6 percent of the market outcome and EduFocal with 1.44 million units for 4 percent market share.
At the close, the Junior Market Index shed 38.65 points to settle at 3,933.61.
The PE Ratio, a measure of computing appropriate stock values, averages 11.9. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Blue Power declined 40 cents in closing at a 52 weeks’ low of $2.70, after 499 shares passed through the market, Cargo Handlers dipped $2 to close at $11 in switching ownership of 1,248 stock units, Dolla Financial popped 23 cents to $3.50 and closed after 21,010,866 stocks changed hands. Dolphin Cove rose 10 cents to end at $13.50 after exchanging 7,770 units, EduFocal shed 41 cents in ending at $2.32 while exchanging 1,440,329 stock units, Express Catering lost 43 cents in closing at $4.57 after trading 54,094 units. Fontana fell 75 cents to $8.10 with a transfer of 103,580 stocks, Fosrich dropped 17 cents to $4.21 with the swapping of 812,779 shares, Future Energy Source declined 24 cents to close at $4.96 as investors exchanged 685,047 stock units. General Accident climbed 50 cents to $4.90, with just 300 stocks crossing the exchange, GWest Corporation lost 11 cents in closing at 98 cents with 40,435 shares changing hands, Honey Bun dipped 29 cents to $6.50 after an exchange of 6,241 units. Indies Pharma dipped 11 cents to end at $2.74, with 7,779 units clearing the market, Iron Rock Insurance rallied 30 cents to close at $2.60 after an exchange of 363 stocks, ISP Finance gained $3.49 to $18.50 after a transfer of a mere five stock units. JFP Ltd shed 12 cents to $1.45 with investors transferring 2,152,239 shares, KLE Group advanced 34 cents in closing at $2 in trading 2,149,248 stocks, Knutsford Express fell 80 cents to close at $8, with just 180 shares changing hands. Lasco Distributors dropped 10 cents after ending at $2.70 with trading of 51,637 stock units, Lasco Financial increased 23 cents to end at $2.95 with an exchange of 2,950 units, Limners and Bards shed 10 cents to close at $2.40 in 8,775 shares changing hands. Main Event lost $2 in ending at $10, with 241,195 stocks crossing the market, Medical Disposables climbed 35 cents to end at $5.50 after exchanging ten stock units, MFS Capital Partners declined 15 cents to $2.60 after exchanging 498,334 units.Spur Tree Spices dipped 15 cents in closing at $2.90 with the swapping of 608,985 stocks and Tropical Battery fell 12 cents to close at $2.38 808,197 units changing hands.
In the preference segmentCAC 2000 9.5% preference share shed 10 cents to end at $1 after trading of 1,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Gains and losses even on Junior Market

Trading was pretty steady on the Junior Market of the Jamaica Stock Exchange on Wednesday, compared with market activity on Tuesday, with the volume of stocks traded declining a mere 7 percent as the value slipped 16 percent from that on Tuesday, following trading in 40 securities down from 43 on Tuesday and ended with stocks rising and declining sharing 17 each leaving six unchanged.
A total of 7,838,155 shares were traded for $20,403,040, down from 8,389,729 units at $24,298,687 on Tuesday.
Trading averaged 195,954 shares at $510,076 versus 195,110 units at $565,086 on Tuesday with the month to date, averaging 253,261 units at $680,540, against 258,128 stocks at $695,016 on Tuesday the previous day. October closed with an average of 264,407 units at $832,036.
Jamaican Teas led trading with 1.86 million shares for 23.8 percent of total volume, followed by JFP Ltd with 994,183 units for 12.7 percent of the day’s trade and ONE on ONE Educational with 641,325 units for 8.2 percent market share.
At the close, the Junior Market Index dropped 26.95 points to close at 3,972.26.
The PE Ratio, a measure of computing appropriate stock values, averages 12.4. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial lost $2.20 to end at $20.70 after an exchange of 10,638 shares, Cargo Handlers popped $1.87 in closing at $13 as investors exchanged 14 stocks, Caribbean Cream gained 14 cents in ending at $4 after trading 250 stock units. Dolla Financial dipped 10 cents to $3.27, with 637,579 units changing hands, Dolphin Cove rose 40 cents to close at $13.40 after a transfer of 534 shares, Everything Fresh climbed 10 cents to close at $1.70 after an exchange of 79,283 stocks. Fontana declined 15 cents to $8.85 after 98,255 stock units crossed the exchange, Fosrich fell 17 cents to $4.38 with 414,495 units passing through the market, General Accident dipped 70 cents to $4.40 while exchanging 10,000 shares. Honey Bun increased 29 cents in closing at $6.79 with an exchange of 2,331 stocks, Iron Rock Insurance shed 30 cents to end at $2.30 with 32,247 units changing hands, Jamaican Teas rallied 22 cents in closing at $2.50 after trading 1,864,447 stock units. Knutsford Express advanced 80 cents to close at $8.80 in exchanging 19,820 shares, Lasco Financial declined 11 cents to $2.72 with the swapping of 25,623 stock units, Limners and Bards gained 10 cents in ending at $2.50 as 41,764 units crossed the market. Main Event rallied 50 cents in closing at $12 after exchanging 1,433 stocks, MFS Capital Partners dipped 15 cents to $2.75, with 366,867 stock units crossing the market, Spur Tree Spices dropped 11 cents to $3.05 trading 485,518 units and Stationery and Office Supplies shed 90 cents to end at $15.95, with 3,083 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior market trading dips

The volume of stocks traded on the Junior Market of the Jamaica Stock Exchange on Tuesday, fell by 12 percent and the value dipped by 16 percent compared to trading on Monday, with activity taking place in 43 securities, up from 41 on Monday and ended with prices of 16 rising, 22 declining and five left unchanged.
Jamaican Teas dropped to a 52 weeks’ low of 2.20 while Main Event surged to an intraday record high of $12.50.
A total of 8,389,729 shares were traded for $24,298,687 compared to 9,587,270 units at $29,063,432 on Monday. Trading averaged 195,110 shares at $565,086 compared to 233,836 units at $708,864 on Monday with the month to date averaging 258,383 units at $695,016 down from 264,459 stock units at $708,070 on the previous day. October closed with an average of 264,407 units at $832,036.
JFP Ltd led trading with 1.21 million shares for 14.4 percent of total volume followed by Spur Tree Spices with 1.08 million units for 12.9 percent of the day’s trade and Jamaican Teas with 871,755 units for 10.4 percent market share.
At the close, the Junior Market Index climbed 24.82 points to settle at 3,999.21.
The PE Ratio, a measure of computing appropriate stock values, averages 12.4. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial climbed $2.40 in closing at $22.90, with just 20 shares crossing the market, Blue Power dipped 10 cents to $3.10 with an exchange of 600 units, Cargo Handlers advanced 13 cents to $11.13 as 3,072 stocks changed hands. Caribbean Cream shed 14 cents to close at $3.86 with investors transferring 34 stock units, Caribbean Flavours rose 13 cents to $1.75 as 88,768 shares passed through the market, Consolidated Bakeries increased 11 cents to end at $2.42 after a transfer of 200 units. Elite Diagnostic lost 35 cents in closing at $3.33 with the swapping of 17,435 stock units, Everything Fresh rallied 15 cents to $1.60 with a transfer of 202,533 stocks, Future Energy Source fell 15 cents to $5.15, with 391,288 units changing hands. General Accident popped $1.10 to close at $5.10 in trading 7,300 shares, Jamaican Teas dropped 27 cents ending at a 52 weeks’ low of $2.28 after an exchange of 871,755 stock units, KLE Group declined 34 cents to end at $1.66 while exchanging 4,274 stocks. Knutsford Express declined 30 cents to close at $8 in an exchange of 60,065 stock units, Lasco Distributors dipped 10 cents to $2.80 as investors traded 218,196 units, Lasco Financial gained 12 cents in closing at $2.83, with 1,000 shares crossing the exchange. Limners and Bards fell 10 cents ending at $2.40 after an exchange of 30,856 stocks, Main Event popped $1.15 to close at a record closing high of $11.50, following the trading of 212,325 units, MFS Capital Partners shed 10 cents to $2.90 trading 124,334 stock units. Spur Tree Spices dropped 23 cents to end at $3.16 in exchanging 1,078,230 shares and Stationery and Office Supplies climbed $1.65 in closing at $16.85, with 6,262 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big drop for Junior Market on Monday

The Junior Market of the Jamaica Stock Exchange fell sharply on Monday, fuelled by falling volume of stocks trading with a decline of 60 percent as the amount of funds passing through the market dropped 56 percent compared to trading on Friday after 41 securities were traded compared with 39 on Friday and ended with prices of 10 rising, 25 declining and six closing unchanged.
A total of 9,587,270 shares were traded for $29,063,432 down from 24,249,069 units at $66,587,007 on Friday.
Trading averaged 233,836 shares at $708,864 down from 621,771 units at $1,707,359 on Friday, with the month to date, averaging 264,739 units at $708,070 versus 267,703 stock units at $707,986 on Friday the previous trading day. October closed with an average of 264,407 units at $832,036.
Consolidated Bakeries led trading with 1.38 million shares for 14.4 percent of total volume followed by MFS Capital Partners with 956,783 units for 10 percent of the day’s trade and Fosrich with 927,898 units for 9.7 percent market share.
At the close, the Junior Market Index dropped 60.44 points to settle at 3,974.39.
The PE Ratio, a measure of computing appropriate stock values, averages 12.3. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial declined $3.19 after ending at $20.50 with investors switching ownership of 7,158 shares, Cargo Handlers shed $1.55 to end at $11 in an exchange of 5,410 units, Consolidated Bakeries dropped 39 cents in closing at $2.31 after exchanging 1,378,803 stock units. Dolphin Cove dipped 60 cents to close at $13 after an exchange of 63,390 stocks, Everything Fresh popped 13 cents to $1.45 in trading 145,000 stock units, Future Energy Source rose 14 cents to close at $5.30 as investors exchanged 737,370 shares. General Accident lost $1.05 to close at a 52 weeks’ low of $4 with a transfer of 9,968 units, Honey Bun fell 29 cents to end at $6.59 after exchanging 150 stocks, iCreate shed 18 cents to $1.81 with the swapping of 524,693 stock units. JFP Ltd fell 12 cents to $1.57 while investors exchanged 893,614 shares, KLE Group rallied 40 cents to end at $2 after a transfer of 223,500 units, Knutsford Express dipped 69 cents to $8.30 after 4,209 stocks changed hands. Lasco Distributors lost 20 cents in closing at $2.90, with 90,593 stocks crossing the market, Lasco Financial declined 29 cents to close at $2.71 as 118,224 shares passed through the market, Limners and Bards dropped 15 cents to $2.50 118,890 units changing hands. Mailpac Group advanced 12 cents to end at $2.15 after 116,159 stock units crossed the market, Stationery and Office Supplies declined 35 cents in closing at $15.20 with 6,569 stock units clearing the market and Tropical Battery dropped 20 cents in ending at $2.56 with an exchange of 450,450 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

PBS jumps ICTOP10 with 89% gain

Productive Business Solutions surged 45 percent to close at US$2 from US$1.38 at the close of the previous week and dropped out of the TOP10, having entered at the beginning of April at $1.06 and has now recorded a gain of 89 percent. Caribbean Assurance Brokers slipped out of the Junior Market TOP10 following a downgrade of earnings per share with the release of nine months’ results.
138 Student Living made it back in the Main Market TOP 10 following reporting strong full year results with the promise of more in 2023 as students return to on campus training and Medical Disposables returns to the Junior Market list.
The Junior Market had five top 10 stocks gaining between 4 percent and 14 percent, with two declining over five percent. The Main Market list had only two stocks gaining from 10 and 45 percent with five losses but with four ranging from 4 to 9 percent.
Notable price changes during the week include Lasco Distributors rising 14 percent to $3.10, General Accident and Lasco Financial popped 10 percent to close at $5.05 and $3, respectively, Elite Diagnostic was up 6 percent to $3.72 and Caribbean Cream rose 4 percent to $4. Caribbean Assurance Brokers lost 8 percent to close the week at $2.39, following the release of nine months results that rose 33 percent to 40 cents, with the crucial third quarter results being flat in contrast to solid growth in the first half of the year.
In the Main Market, Productive Business Solutions rose 45 percent during the week to $2, followed by Radio Jamaica, that jumped 10 percent to $2. VVM Investments dropped 9 percent to $4.39 while Caribbean Producers slipped 5 percent to $12.33, Berger Paints also dipped 5 percent and ended at$10.40 and Guardian Holdings fell 4 percent to $500.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.4. At the same time, the Junior Market Top 10 PE sits at 6.2 versus the market at 12.4, an important indicator of the level of undervaluation of the ICTOP10stocks. The Junior Market is projected to rise by 224 percent and the Main Market TOP10 an average now of 298 percent, to May 2023, following an upgrading of Guardian Holdings earnings per share to $173.50 from $92 previously.
The Junior Market has 14 ; stocks representing a third of the market, with PEs from 16 to 38, averaging22 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 15 to 80, with an average of 28 and 24.3 excluding the highest valued one and 22.5 for the top half excluding the highest valued stock.
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.