Wigton dominates main market as price dips

Market activity ended on Wednesday with the market rising after the volume of shares traded fell 60 percent with values down 71 percent compared to Tuesday, with Wigton Windfarm accounting for nearly half of the volume of stocks traded, as the price hit a new 52 weeks’ low as the stock looks technically weak at the close of the Jamaica Stock Exchange Main Market.

At the close, the All Jamaican Composite Index advanced 2,218.44 points to 461,341.26, the JSE Main Index rose 1,596.37 points to end at 428,073.03 and the JSE Financial Index popped 0.67 points to 106.19.
Trading ended with two stocks ending at 52 weeks’ highs and two at lows as 52 securities traded similar to Tuesday, with 19 stocks rising, 22 declining and 11 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.5 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 8,879,043 shares trading for $56,815,416 versus 22,237,953 units at $198,202,082 on Tuesday. Wigton Windfarm led trading with 46.7 percent of total volume for an exchange of 4.34 million shares, followed by Transjamaican Highway with 17.3 percent for 1.60 million units and Sagicor Select Financial Fund with 5.8 percent for 541,055 units.
The average day’s trade is 170,751 units at $1,092,604, compared to 427,653 shares at $3,811,578 on Tuesday. Trading month to date averages 249,247 units at $4,649,442, in contrast to 256,820 units at $4,992,587 on Tuesday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading is strong, with 17 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments fell $2.10 to close at $81.10 with the swapping of 17,680 shares. Caribbean Cement lost 26 cents to end at $93.75 in exchanging 5,661 stocks, Eppley spiked $5 to settle at a 52 weeks’ high of $45 with the swapping of 1,270 units. Eppley Caribbean Property Fund plunged $6.90 to $35 in switching ownership of 5,410 stock units, First Rock Capital lost 20 cents ending at $15.80 in an exchange of 3,724 stocks, Grace Kennedy rose $1.30 to $96.30 in transferring 28,487 stock units. Guardian Holdings declined $4.50 to $755 with 3,590 shares changing hands, Jamaica Broilers advanced $2.20 to $35.80 in trading 5,924 units, Jamaica Producers shed 93 cents in closing at $23.50 with a transfer of 46,176 stock units. JMMB Group rose $1.09 to close at a 52 weeks’ high of $37.79 in exchanging 111,569 shares, Margaritaville gained 45 cents to end at $14.75 with 66,800 stock units clearing the market, Mayberry Investments ended 54 cents higher at $6.05 after an exchange of 209,044 shares, Mayberry Jamaican Equities gained 45 cents to close at $9.55 with 115,030 stock units clearing the market. MPC Caribbean Clean Energy picked up 23 cents to end at $116.23 in trading 3,194 units, NCB Financial Group advanced $2 to close at $145 with 50,829 shares crossing the market, Palace Amusement plunged $170 to close at $1,000 with the swapping of 513 stocks. Pan Jam Investment fell $1.51 in closing at $65.05 in transferring 24,696 units, Proven Investments dived $1.90 to finish at $35 in an exchange of 345,327 shares, Sagicor Group spiked $5.90 to $57.90 in switching ownership of 58,795 stock units, Sagicor Real Estate Fund gained 70 cents to end at $9 in an exchange of 1,510 stocks, Salada Foods lost 20 cents to settle at $8 with a transfer of 44,470 shares. Seprod rose 99 cents to close at $74, with 9,423 units crossing the exchange, Supreme Ventures ended 72 cents higher at $20.80 after an exchange of 43,256 stock units, Sygnus Credit Investments gained 57 cents in closing at $15.19 in trading 121,657 stocks. Transjamaican Highway lost 3 cents to end at 52 weeks’ low of $1.17 with an exchange of 1,604,464 units and Wigton Windfarm dropped 4 cents to close at a 52 weeks’ closing low of 57 cents, after hitting an intraday low of 53 cents, with 4,336,688 units clearing the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Falling prices set back JSE Main Market

Market activity ended on Tuesday with 18 stocks rising, 25 declining and nine remaining unchanged with two stocks hitting 52 weeks’ low and one a 52 weeks’ high as 52 securities traded compared to 49 on Monday and led the market into declining with an exchange of 60 percent more shares valued 20 percent less than on Monday at the close of the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index dropped 3,021.82 points to 459,122.82, the JSE Main Index declined 2,454.99 points to end at 426,476.66 and the JSE Financial Index shed 1.04 points to 105.52 after Grace Kennedy traded at an intraday high of $100, while Transjamaica Highway and Wigton Windfarm traded at 52 weeks’ low of 90 cents and 55 cents, respectively.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.8 based on ICInsider.com forecast of 2021-22 earnings.
The market closed with 22,237,953 shares trading for $198,202,082 versus 13,855,601 units at $248,441,964 on Monday. Wigton Windfarm led trading with 30.6 percent of the volume for 6.80 million shares followed by JMMB Group 7.5% preference share with 18.4 percent for 4.10 million units, Sagicor Select Financial Fund with 9.7 percent for 2.16 million units, Transjamaican Highway with 9.4 percent for an exchange of 2.10 million units, Sagicor Group with 4.8 percent for 1.09 million units and Jamaica Stock Exchange with 4.8 percent for 1.06 million units changing hands.
Trading averages 427,653 shares at $3,811,578, compared to 282,767 units at $5,070,244 on Monday. Trading month to date averages 256,820 units at $4,992,587, in contrast to 238,579 units at $5,118,691 on Monday. May closed with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments dipped 25 cents to $83.20 in an exchange of 16,246 shares. Caribbean Cement gained 21 cents to close at $94.01 with the swapping of 90,297 stock units, Eppley spiked $2 to $40 after exchanging 362 shares, Guardian Holdings lost 50 cents in closing at $759.50 with 6,990 stocks crossing the exchange, Jamaica Broilers fell $1.40 to $33.60 with 47,215 units clearing the market. Jamaica Producers rose $1.78 to $24.43 in exchanging 18,443 stocks, JMMB Group advanced $3.60 to close at $36.70 after trading 996,543 stock units as investors reacted positively to full year results. Margaritaville shed 70 cents to settle at $14.30 with a transfer of 26,930 stock units, MPC Caribbean Clean Energy fell 23 cents $116 in trading 41 stock units, NCB Financial dropped $5 to end at $143 in switching ownership of 90,696 shares, Palace Amusement dropped $10 to $1,170, with 11 units changing hands, PanJam Investment declined $3.37 in closing at $66.56 in switching ownership of 28,018 stocks, Proven Investments popped $1.84 to $36.90 in an exchange of 1,641 units. Sagicor Group declined $3 to $52 in transferring 1,091,820 shares, Sagicor Real Estate Fund shed 69 cents to close at $8.30 after exchanging 75,292 units. Scotia Group shed $1 to end at $40 with the swapping of 426,297 shares. Seprod fell 99 cents to $73.01 in trading 14,521 stock units, Stanley Motta ended 51 cents lower at $5.89 after clearing the market with 6,300 shares, Supreme Ventures fell 92 cents to $20.08 with 97,939 stocks crossing the market and Sygnus Credit Investments shed 44 cents to end at $14.62 in transferring 77,877 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Strong gains for JSE Main Market more ahead

Main market stocks spiked right out of the blocks on Monday, with the All Jamaican Composite Index surging 5,670 points and within an hour of the opening and climbed to 465,214 points within half an hour of opening, but the market pulled back to settle lower with half of the morning gains, with volume f stocks traded rising 14 percent but with the value 61 percent less than Friday on the Jamaica Stock Exchange Main Market.
Investor’s Choice bid-offer indicator closed with a strong signal of 14 stocks ending with bids higher than their last selling prices and four closing lower offers, an indication that Tuesday’s trading should see a continuation of the current market rally. At the close of trading, the  All Jamaican Composite Index pushed 2,871.41 points higher to 462,144.64 to now sit just above resistance level which now provides support for the market. The JSE Main Index rose 2,511.04 points to end at 428,931.65 and the JSE Financial Index inched 0.91 points higher to 106.56.
Similar to Friday’s trading 49 securities changed hands, with the prices 13 rising, 22 declining and 14 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.9 based on ICInsider.com forecast of 2021-22 earnings.
Trading ended with a 14 percent rise in the volume of stocks traded, with a 61 percent lower value than Friday, after 13,855,601 shares traded for $248,441,964 versus 12,127,180 units at $631,548,664 on Friday. Mayberry Jamaican Equities led trading with 26 percent of total volume for 3.61 million shares followed by Wigton Windfarm with 13.4 percent after an exchange of 1.85 million units, Transjamaican Highway accounted for 8.7 percent with 1.20 million units traded, Sagicor Select Financial Fund held to 8.6 percent after an exchange of 1.19 million units, Sagicor Select Manufacturing & Distribution Fund pulled out 8.3 percent with 1.15 million units and QWI Investments delivered 8.1 percent after trading 1.12 million units.
Trading averaged 282,767 units at $5,070,244, compared to 247,493 shares at $12,888,748 on Friday. Trading month to date averages 238,579 units at $5,118,691, in contrast to 233,635 units at $5,124,111 on Friday. May ended with an average of 439,937 units at $4,698,961.
At the close, Barita Investments rose 50 cents to $83.45 in exchanging 10,061 shares, Caribbean Cement advanced $1.19 to $93.80 with 7,893 stocks clearing the market, Carreras lost 35 cents, in ending at $9.45 after transferring 159,510 stock units, Jamaica Broilers fell $1.50 to $35 with 10,288 units changing hands, JMMB Group rallied 60 cents to $33.10 after the trading of 264,279 shares, Kingston Properties shed $1.50 to $10.25 with the swapping of 40 units. Kingston Wharves popped 35 cents to $46.35 in switching ownership of 50,063 stocks, Margaritaville fell 80 cents to $15 in exchanging 10,769 shares, Mayberry Jamaican Equities slipped 55 cents to $9 with 3,608,313 shares crossing the market, Palace Amusement surged $110 to $1,180 in trading 190 units, PanJam Investment spiked $5.43 to $69.93 with the swapping of 523,596 stock units. Proven Investments shed $1.94 in closing at $35.06, with 44,622 stocks crossing the market, Sagicor Group slipped $2 to $55 with 248,968 shares clearing the market. Salada Foods climbed 45 cents to $8.28 with 113,932 stock units crossing the exchange, Scotia Group jumped $1.44 to $41 in an exchange of 3,994 units, Seprod shed 99 cents to close at $74 with the transfer of 173,855 shares. Sterling Investments dipped 25 cents to $2.80 in switching ownership of 220,000 stock units, Supreme Ventures spiked 50 cents to close at $21 after clearing the market of 336,556 stock units, Sygnus Credit Investments ended 24 cents lower at $15.06 in an exchange of 256,748 units.
In the preference segment, 138 Student Living preference share spiked 90 cents to $6.90 in switching ownership of 115 units and Eppley 8.25% dived 99 cents to $6.94 with 256 stocks crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

122% gain pushes stock out of ICTOP10

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Two companies in the transportation sector swapped places in the IC Junior Market TOP10 this week as another TOP10 stock gained more than 100 percent for the year, the fourth such feat for the Junior Market TOP10. Jetcon Corporation’s price popped 61 percent for the week to a 52 weeks’ high of $1.75 to record gains of 122 percent for the year to date and dropped out of the TOP10, and is replaced by Future Energy Sources.
Other than Jetcon, prices of other TOP10 stocks had notable increases during the past week; these include; Jamaica Broilers and Grace Kennedy from the main market but Radio Jamaica, PanJam and Scotia Group prices took hits. In the Junior Market, Caribbean Cream, Access and Stationery and Office Supplies had nice gains resulted in the average gains projected slipping from 216 percent last week to 210 percent. The average projected gains for the Main Market stocks inched up last week from 169 to 170 percent.
The Junior Market closed the week at 3,327.84, down from 3,339.02, last week, as it continues to consolidate around the zone of resistance. The JSE All Jamaica Composite Index hit 466,915.58 points during the morning session on Friday, before closing lower at 459,273.23, up from 456,395.73, at the close of the previous week, as the market continues to wrestle with resistance.
The top three stocks in the Junior Market are Elite Diagnostic heading the list, followed by Medical Disposables and Caribbean Assurance, with potential to gain between 250 to 303 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by PanJam Investments and Wisynco, with expected gains of 153 to 394 percent.
This week’s focus: Access Financial Services came out with full year results that reflected increased lending and EPS of 50 cents in the March quarter. ICInsider.com upgraded earnings to just under $3 per share for the current fiscal year. Scotia Group also reported results for the six months to April, with a 12 percent rise in profit for the April quarter over the 2020 same quarter and an 11.4 percent rise for the six months results. The big negative is that the loan portfolio continued its decline into the April quarter.  ICInsider.com now projects 2021 earnings at $4 per share.
The targeted PE ratio for the market averages 20 based on companies’ profits reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market.
The Junior Market, with an average PE 12.6 based on ICInsider.com’s 2021-22 earnings, is currently trading below the target, as well as the recent historical average of 17.1; this represents another 35 percent rise in the market that would equate to a rise of 59 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.6 at just 53 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 17.1, still some distance from the 19 the market ended March, suggesting a 17 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.8 or 45 percent of the PE of that market and well off the potential of 20.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in periodic movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.

Big swing for JSE indices

Wild swings continue in market activity on Friday, with the All Jamaican Composite Index falling 7,642 points from the day high of 466,915.58 points in the early morning session with Sagicor Group rising to $56.50 from $54 at the close on Thursday to be the main contributor to the early rise. The market failed to hang on to the early gains and declined 2,499.76 points to close at 59,273.23, within the region of resistance.
At the close, the JSE Main Index fell 749.88 points to end at 426,420.61 and the JSE Financial Index slipped 0.09 points to 105.65.
Trading ended with 49 securities compared to 53 on Thursday, with 19 stocks rising, 16 declining and 14 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 17.1 based on ICInsider.com’s 2021-22 earnings forecast.
The market closed with 18 percent more shares trading than on Thursday, with 12,127,180 shares for $631,548,664, some 232 percent higher than on Thursday, compared to 10,251,097 units at $190,490,762 on Thursday. Wigton Windfarm led trading with 21.5 percent of total volume for an exchange of 2.60 million shares followed by Sagicor Select Financial Fund with 11.6 percent for 1.41 million units and Carreras 10.3 percent with 1.25 million units.
Trading averaged 247,493 units at $12,888,748, compared to 193,417 shares at $3,594,165 on Thursday. Trading month to date averages 233,635 units at $5,124,111, in contrast to 231,890 units at $4,146,046 on Thursday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has six stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell $1.05 to $82.95 with the swapping of 566,393 shares, Caribbean Cement rose $1.07 to $94.99 in switching ownership of 5,026 stock units, Eppley popped 25 cents to $38 in transferring 350 stocks. Grace Kennedy rose 75 cents ending at $94.97 with 232,587 stock units changing hands, Guardian Holdings spiked $15.10 to $760 with 454,106 shares crossing the market, Jamaica Broilers rallied $2.50 to $36.50 after exchanging 106,863 stocks. Jamaica Producers lost 35 cents to finish at $22.65 in trading 751,548 stock units, Jamaica Stock Exchange fell 35 cents to $17.05 with an exchange of 5,545 shares, Margaritaville spiked $1.05 to $15.80 in transferring 3,020 stocks, Mayberry Jamaican Equities rose 70 cents to $9.55 with an exchange of 76,052 stock units, 138 Student Living rallied 30 cents to $5.50 in trading 92,848 stocks, investors slashed $101.92 off the price of Palace Amusement to finish at $1,070 in an exchange of 279 units, Pan Jam Investment dropped $3.50 to $64.50 in trading 52,305 shares, Proven Investments popped $1.50 to $37 after a transfer of 20,778 stock units. Sagicor Group spiked $3 to $57 after 526,416 shares cleared the market. Scotia Group fell 44 cents to close at $39.56, with 124,591 stocks changing hands. Seprod rose 99 cents to $74.99 after exchanging 57,110 stock units, Supreme Ventures gained 50 cents to close at $20.50 after trading 214,253 units and Wisynco Group shed 55 cents to end at $15.40 with 244,402 stock units changing hands.
In the preference segment, Eppley 7.50% preference share surged $1.50 to $11 after exchanging 210 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE main Market pierces resistance

The main market finally pierced the resistance point around the 460,000 points level at the close of trading, with the All Jamaican Composite Index spiking a strong 5,539.89 points to end trading at 461,772.99, the first close above this point since March 10 last year after 29 stocks recorded gains at the close of market activity on Thursday, but ii it sustainable in the short run? 
Securities trading surged to 53 from 48 on Wednesday, with 29 rising, 18 declining and six ending unchanged. At the close, the JSE Main Index advanced 3,640.24 points to end at 427,170.49 and the JSE Financial Index gained 0.76 points to 105.74.
The PE Ratio, which measures an appropriate relative value of each stock, on Thursday averages 16.9 based on ICInsider.com’s 2021-22 earnings forecast.
A total of 10,251,097 shares traded for $190,490,762 versus 11,255,918 units at $208,802,786 on Wednesday. Scotia Group led trading with 20 percent of the volume after exchanging 2.04 million shares followed by Wigton Windfarm with 13.3 percent for 1.36 million units, Transjamaican Highway 11.2 percent, with 1.14 million units and Sygnus Credit Investments 11.1 percent with 1.10 million units changing hands.
Trading averaged 193,417 units at $3,594,165, compared to 234,498 shares at $4,350,058 on Wednesday. Trading month to date averages 231,890 units at $4,146,046, in contrast to 237,958 units at $4,233,099 on Wednesday. May closed with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has eight stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement rallied $2.92 to $93.92 trading 5,699 units, Eppley lost 23 cents to close at $37.75 with 608 stocks crossing the market, Grace Kennedy finished $2.72 higher at $94.22 in exchanging 225,975 shares, Guardian Holdings dropped $5.10 to end at a 52 weeks’ low of $744.90 in transferring 30,017 units. Jamaica Broilers rose $1 to $34 with the swapping of 21,498 stocks, Jamaica Producers closed $1 higher at $23 after exchanging 564 shares, Jamaica Stock Exchange gained 20 cents to finish at $17.40 with an exchange of 11,259 stock units. JMMB Group picked up 30 cents to close at $32.50 in switching ownership of 516,634 shares, Kingston Properties spiked $2.25 to end at a 52 weeks’ high of $11.75 in an exchange of 870 units, Margaritaville gained 25 cents in closing at $14.with the swapping of 48,810 stocks, NCB Financial rose $1.01 to $148 in transferring 35,830 shares, Palace Amusement popped $27.92 to $1,171.92 with an exchange of 109 units. PanJam Investment rose 99 cents to $68 with 1,970 stock units clearing the market, Proven Investments shed 50 cents to close at $35.50 with 14,872 units crossing the market, Sagicor Group rallied $1.25 to a 52 weeks’ closing high of $54 after trading 156,877 stocks, Salada Foods gained 20 cents to end at $8 in trading 38,865 units. Scotia Group shed $1 in ending at $40 after an exchange of 2,042,868 shares, Seprod shed 95 cents to close at $74 with 17,290 units changing hands, Stanley Motta rose 45 cents to $6.45 with 100 stock units crossing the market, Sygnus Credit Investments climbed 30 cents to $15.30 in exchanging 1,103,967 shares and Wisynco Group gained 60 cents to close at $15.95 with a transfer of 33,016 stock units.
In the preference segment, 138 Student Living Preference share shed $1.90 to end at $6 after 200 shares crossed the market, Eppley 8.25% rose 97 cents to $7.93 in trading 1,240 units and JMMB Group 7.25% gained 31 cents to end at $2.31 with 132 stocks changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Fall in JSE Main Market on Wednesday

Market activity ended on Wednesday, with the market declining after the All Jamaican Composite Index jumped 6,167 points to 462,400 points after a few minutes of the market’s opening, with the volume of shares traded falling 11 percent and the values rising 26 percent compared to Tuesday on the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index dropped 1,444.91 points to finish at 456,233.10, the JSE Main Index shed 1,246.35 points to end at 423,530.25 and the JSE Financial Index slipped 0.50 points to 104.98.
Trading ended with 48 securities down from 50 on Tuesday, with 19 stocks rising, 20 declining and nine remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.5 based on ICInsider.com’s 2021-22 earnings forecast.
The market closed with 11,255,918 shares trading for $208,802,786 versus 12,597,611 units at $165,913,276 on Tuesday. Wigton Windfarm led treading with 16 percent of total volume for an exchange of 1.80 million shares followed by Sagicor Select Financial Fund with 13.9 percent for 1.57 million units, Transjamaican Highway ended with 13.6 percent after trading 1.53 million units and Carreras accounted for 9.3 percent, with1.08 million units.
Trading averaged 234,498 units at $4,350,058, versus 251,952 shares at $3,318,266 on Tuesday. Trading month to date averages 237,958 units at $4,233,099, in contrast to 238,535 units at $4,213,605 on Tuesday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments shed 51 cents to $83.99, with 20,665 shares crossing the market. Caribbean Cement declined $2 to $91 after exchanging 33,900 units, Carreras lost 20 cents to close at $10 after a transfer of 1,076,866 shares. Eppley popped $1.98 to $37.98 in trading 2,179 units. Grace Kennedy rallied 50 cents to $91.50 in exchanging 468,812 stocks, Guardian Holdings declined $10 to close at $750 in switching ownership of 21,399 stock units. Jamaica Broilers shed 60 cents to end at $33 with 42,614 shares changing hands, Jamaica Producers closed 80 cents lower at $22 after 122,007 stocks crossed the market, JMMB Group gained 26 cents to end at $32.20 in exchanging 431,524 shares. Margaritaville picked up 20 cents in closing at $14.50 with a transfer of 9,500 units. Mayberry Investments dipped 50 cents to finish at $5.50 in an exchange of 32,829 stocks, Mayberry Jamaican Equities closed 24 cents higher at $8.99 in trading 47,927 units, NCB Financial fell $1.01 to $146.99 with 323,338 shares changing hands. Palace Amusement spiked $144 in closing at $1,144 after switching ownership of 364 units. PanJam Investment fell 99 cents to $67.01 trading 22,843 stocks, Proven Investments shed $1 in closing at $36 after a transfer of 701,801 shares, Sagicor Group rose 70 cents to $52.75 with 323,788 shares crossing the market. Sagicor Real Estate Fund popped 64 cents to $8.99 with the swapping of 294 stock units, Scotia Group shed 55 cents to close at $41 in exchanging 78,321 units. Seprod rallied $1.93 to $74.95 in trading 101,870 shares and Supreme Ventures declined 99 cents to $19.91 with an exchange of 75,612 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main Market closes higher

Trading continued on Tuesday where it left off Monday, resulting in a second day with 50 securities, changing hands and ended with 20 stocks rising, 19 declining and 11 remaining unchanged, resulting in a rise in the market after more stocks rose than declined, with an exchange of 75 percent more shares valued 33 percent higher than on Monday, at the close of the Jamaica Stock Exchange Main Market.
At the close of trading, the All Jamaican Composite Index climbed 678.47 points to finish at 457,678.01, just a few thousand points away from resistance around the 460,000 mark. The JSE Main Index rose 718.60 points to end at 424,776.60 and the JSE Financial Index popped 0.30 points to 105.48.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.4 based on ICInsider.com’s 2021-22 earnings forecast.
The market closed with 12,597,611 shares trading for $165,913,276 versus 7,181,910 units at $124,879,752 on Monday. Wigton Windfarm led trading with 54.7 percent of total volume for 6.90 million shares, followed by Sagicor Select Financial Fund with 8.8 percent after trading 1.1 million units and Sygnus Credit Investments with 8.1 percent for 1.02 million units.
Trading averaged 251,952 units at $3,318,266, up from 143,638 shares at $2,497,595 on Monday. Trading month to date averages 238,535 units at $4,213,605, in contrast to 235,716 units at $4,401,702 on Monday. May ended with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator shows eleven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments shed 74 cents in ending at $84.50 with 74,783 stock shares crossing the market, Caribbean Cement fell $2 to $93, with 6,950 stocks clearing the market, Eppley rallied $1 to $36 in exchanging 9,253 units, First Rock Capital fell 38 cents to $16.10 after transferring 8,982 units, Grace Kennedy spiked $3.40 to $91 with 196,583 shares clearing the market. Guardian Holdings popped $20 to $760 with the swapping of 93,614 stocks, Jamaica Broilers slipped 60 cents to $33.60 in exchanging 4,852 units, Jamaica Stock Exchange rose 20 cents to $17.20 with 10,170 stocks crossing the market. JMMB Group popped 24 cents higher to $31.94 in exchanging 178,970 shares, Key Insurance shed 33 cents in closing at $5.07 in switching ownership of 341,486 stock units. Kingston Properties jumped $1.04 to $9.50 with a transfer of 11,343 units, Kingston Wharves closed 50 cents lower at $46 trading 9,637 stock units, Mayberry Jamaican Equities gained 25 cents in closing at $8.75 after exchanging 1,000 units, MPC Caribbean Clean Energy dropped $8.93 to $116.07 in trading 156 stock units, NCB Financial spiked $5 to $148 with 100,722 shares changing hands. Palace Amusement nosedived $148.56 to $1,000 in switching ownership of 378 units, PanJam Investment slid $1 to $68 in exchanging 1,997 stock units, Proven Investments rallied $1.47 to $37 with a transfer of 15,719 units. Sagicor Group fell 70 cents to $52.05 after 91,205 stock units crossed the exchange. Sagicor Real Estate Fund shed 64 cents to $8.35 with the swapping of 15,100 shares, Scotia Group gained 55 cents to $41.55 in trading 10,068 stocks. Seprod rose $1.02 to $73.02 in an exchange of 19,247 stock units, Supreme Ventures popped 90 cents higher to $20.90 in switching ownership of 26,108 units and Sygnus Credit Investments rallied 70 cents to $15 in trading 1,016,997 stocks.
In the preference segment, JMMB Group 7.15% – 2028 fell 35 cents to $2.90 trading 14,000 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Fall in trading on the JSE Main Market

Market activity ended on Monday with only the All Jamaican Composite rising, after an exchange of 66 percent fewer shares valued 70 percent less than on Friday on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index rose 603.81 points to 456,999.54, the JSE Main Index shed 210.23 points to end at 424,058.00 and the JSE Financial Index lost 0.65 points to settle at 105.18.
Trading ended with 50 securities up from 45 on Friday, with 20 stocks rising, 21 declining and nine remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.4 based on ICInsider.com forecast of 2021-22 earnings.
The market closed with 7,181,910 shares trading for $124,879,752 versus 21,218,791 units at $209,043,560 on Friday. Transjamaican Highway led trading with 10.9 percent of total volume for an exchange of 816,127 shares followed by Mayberry Jamaican Equities with 9.2 percent for 690,800 units and JMMB Group 7.35% – 2028 with 9.2 percent for 689,000 units changing hands.
Trading averaged 143,638 units at $2,497,595, compared to 471,529 shares at $4,645,412 on Friday. Trading month to date ended with a average of 235,716 units at $4,401,702, in contrast to 260,205 units at $4,908,113 on Friday. May closed with an average of 439,937 units at $4,698,961.
Investor’s Choice bid-offer indicator reading has 13 stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints advanced $2.07 to $15.95 with 186 stocks crossing the market, Caribbean Cement popped $3 higher to close at a 52 weeks’ high of $95 with an exchange of 38,686 shares. Carreras gained 41 cents to finish at $10.21 in switching ownership of 219,337 units, Eppley fell $1.25 to $35 after an exchange of 7,136 shares, First Rock Capital rallied 23 cents to $16.48 with 46,809 units clearing the market, Grace Kennedy slipped 40 cents to $87.60 after transferring 61,182 shares. Guardian Holdings dropped $20 to close at a 52 weeks’ low of $740 with an exchange of 43,023 stocks, Jamaica Broilers rallied $2.40 to $34.20 with swapping 89,510 units, Jamaica Producers lost 20 cents to end at $22.80 in transferring 176,363 stocks. Jamaica Stock Exchange slipped 36 cents to $17 with 241,255 shares changing hands, Margaritaville edged 90 cents lower to $14.30 in trading 11,343 units, Mayberry Jamaican Equities fell 35 cents to $8.50 in exchanging 690,800 shares, MPC Caribbean Clean Energy dipped $2 to $125 with an exchange of 18 units, NCB Financial spiked $2 higher to $143 in switching ownership of 216,520 stock units. Palace Amusement surged $153.56 to $1,148.56, after hitting $1,250 in early trading with a transfer of 663 units, Sagicor Real Estate Fund rose 64 cents to $8.99 in trading 10 shares, Scotia Group fell $1 to $41 after exchanging 8,110 stock units, Seprod advanced $1 to $72 in switching ownership of 16,611 shares and Sygnus Credit Investments shed 70 cents to finish at $14.30 in exchanging 94,468 units.
In the preference segment, Jamaica Public Service 9.5% dropped $10 to $1,690 with an exchange of 2,000 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

SOS back in ICTOP10 stocks

Main Event price popped nearly 14 percent from $4.65 last week to $5.28 following this week’s public forum the company CEO presented, leading the stock to dropped out of the Junior Market ICTOP10 and Stationery and Office Supplies price dipped to $7.52 and moved in to fill the slot left by Main Event.

Stationery & Office Supplies hit a record high on Friday.

Stationery & Office Supplies – Montego Bay office.

Prices of some ICTOP10 stocks bounced around during the week, resulting in changes within the list as a result. The average gains projected for the Junior Market fell from 218 percent last week to 216 percent. The average projected gains for Main Market stocks moved up last week, from 162 to 169 percent, are up again this week to 171 percent.
The markets continue to face resistance, with the Junior Market trading at the very top of its upward sloping channel while the JSE Main Market sits a few thousand points away and facing turbulence in getting to the peak. The recent release of results by two Lasco companies did not move the market this past week, investors are likely to be looking at a sideward moving market until later in the month, in keeping with the historical pattern of a recess after the completion of earnings season.
The Junior Market Index closed the week at 3,339.02, slightly up from 3,329.50, last week, after it was up moderately from 3,324 at the end of the previous week. The JSE All Jamaica Composite Index ended at 456,395.73 on Friday, up from 454,375.81 at the close of the previous week.
The Junior Market has to decidedly break the upper limit of the current upward sloping trading channel to free it to move on to the next area of resistance, of just over 4,000 mark, but the Main Market has room to run for a few thousand points before it hits the channel top at 460,000 points which it came close to on Friday at 459,758 before pulling back.
The top three stocks in the Junior Market for this week, are Elite Diagnostic, followed by Medical Disposables and Caribbean Producers, with the potential to gain between 238 to 300 percent. The top three Main Market stocks are Radio Jamaica, followed by PanJam Investments and Wisynco Group, with expected gains of 153 to 371 percent. The latter potential gain is based on earnings for the financial year starting in July, investors should not expect an early upward movement for the price until after the release of full year results to June this year, around the end of August.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March, with the average PE at 17 for Junior Market stocks and 19 for the  Main Market.
The Junior Market with an average PE of 12.3 based on ICInsider.com’s 2021-22 earnings, is currently trading below the target, as well as the recent historical average of 17, this represents another 37 percent rise in the market that would equate to a rise of 63 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.5 at just 52 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16.2, some distance from the 19 the market ended March, suggesting a 23 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.7 or 48 percent of the PE of that market and well off the potential of 20.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.

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