Mixed fortune for JSE Main market

Market activity ended on Wednesday with mixed results after an exchange of 15 percent fewer shares, with a 131 percent greater value than on Tuesday on the Jamaica Stock Exchange Main Market leaving the market indices with mixed results at the close.
The All Jamaican Composite Index rose 170.16 points to 461,596.19, the JSE Main Index shed 189.24 points to end at 421,657.62 and the JSE Financial Index dipped 0.18 points to 103.56.
Trading ended with 46 securities down from 52 on Tuesday, with 16 stocks rising, 15 declining and 15 ending unchanged. The PE Ratio, a measure that computes an appropriate stock value averages 16.5 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 6,341,667 shares trading for $102,594,305 versus 7,489,347 units at $44,473,648 on Tuesday. Scotia Group led trading with 21.6 percent of total volume for an exchange of 1.37 million shares followed by Transjamaican Highway 18 percent with 1.14 million units and Wigton Windfarm 16.1 percent with 1.02 million units.
Trading averaged 137,862 units at $2,230,311, compared to 144,026 shares at $855,262 on Tuesday. Trading month to date averages 141,133 units at $1,500,693. July ended with an average of 322,932 units at $15,201,099.
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, Caribbean Cement rallied $1 to $93 in exchanging 2,758 shares, Eppley spiked $1.70 to $40 in switching ownership of 521 units, First Rock Capital rose 93 cents to $14.38 with 688 stock units changing hands, GraceKennedy climbed $4 to $102 in trading 30,011 units. Guardian Holdings dropped $20 to a 52 weeks’ low of $630 with the swapping of 29,390 stock units, JMMB Group slipped 40 cents to $37 in an exchange of 92,682 shares, Kingston Properties popped $1.29 to $9.79 with the transfer of 1,290 units. Mayberry Jamaican Equities lost 30 cents in closing at $8.70 in trading 3,500 stock units, MPC Caribbean Clean Energy spiked $7 to $137 in exchanging 1 share, NCB Financial fell $1.10 to $138.50 in exchanging 18,337 stocks. Proven Investments rose 38 cents to $35.29, with 6,916 units crossing the market, Pulse Investments picked up 21 cents to end at $4.01 in switching ownership of 435,468 stock units, Sagicor Group spiked $1 to $57 with 11,682 units crossing the exchange. Scotia Group popped $1 to $42 in trading 1,366,726 shares, Seprod fell $1 to $71 in an exchange of 3,804 stocks, Supreme Ventures gained 30 cents in closing at $20.50 with a transfer of 113,365 stock units. Sygnus Credit Investments popped 58 cents to $14.80 after exchanging 63,362 shares but after trading at a 52 weeks’ intraday low of $13.99 and Wisynco Group lost 22 cents to settle at $15.65 with 362,752 stocks crossing the market.
In the preference segment, Eppley 8.25% shed 40 cents to close at $6.10 in an exchange of 5,544 shares and JMMB Group 7.25% lost 20 cents in ending at $1.30 after ownership of 13,508 units was switched.
In the corporate Bond segment, Guardian Holdings 6.5% due 2025 rose 35 cents to close at 4103.51 after 5 million units were exchanged.

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

Change in ICTOP10 picks

Mid-year results are now flowing unlike anything seen in the local market in recent years. Most companies reported gains in revenues and profits, but investors’ interest seems lukewarm in the aftermath of the results, even as interest in ICTOP10 number 1 stock, Radio Jamaica (RJR) continues to be robust as more investors turn their eyes to what is a major turnaround in fortunes.
GraceKennedy reported continued strong numbers, showing improvement in revenues and profit, so too did Caribbean Cement and Berger Paints. Investors don’t seem to buy into Berger’s major change in operations and the implication for profit from the major surge in revenues. Based on the six months numbers, the company’s earnings for 2021 is upgraded to $2 per share. All three Lasco companies reported improved revenues and profit for the June Quarter, but the stocks are stuck at prerelease prices.
Investors should ignore the lukewarm response now and accumulate some of these stocks to profit from later in the year when the inevitable buying comes in for them. Access Financial reported improved results for the June quarter after reporting modest gains in lending. NCB Financial also released results but the details suggest caution, with the performance being helped by onetime income or cost reduction. Jamaica Stock Exchange reported improved June quarter numbers, but improvement is not strong enough to justify the current price the stock trades at.
Sterling Investments returns to the TOP10 Main Market listing, after replacing Scotia Group that recorded a rise in its price from last weeks’ $38.75 to $42 at the close of trading on Friday. There are no changes in or out of the Junior Market list.
The top three stocks in the Junior Market, continue, with Elite Diagnostic, followed by Caribbean Assurance Brokers and Medical Disposables, with the potential to gain between 221 percent and 287 percent compared to 237 and 291 percent, last week. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by JMMB Group and Guardian Holdings, with expected gains of 184 to 296 percent, versus last weeks’ 183 to 292 percent.
This past week the average gains projected for the Junior Market, moved up from 202 percent last week, back to 207 percent and Main Market stocks moved to 173 percent from 164 percent.
The Junior Market closed the week with an average PE 13.3 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 as well as the recent historical average of 17, for the period to March this year based on 2020 earnings.
The JSE Main Market ended the week with an overall PE of 16.4, a little distance from the 19 the market ended at in March, suggesting just a 17 percent rise at a PE of 19 and 23 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.6 or 46 percent of the PE of that market, well off the potential of 20.
For the Junior Market to trade at the historical average, the PE Ratio would have to rise 28 percent and requires a rise of 50 percent to reach the targeted PE of 20 by March 2022. Main Market stocks would have to rise by 17 percent to hit a PE of 19 and 23 percent to get to the target of 20. The Junior Market Top 10 stocks average PE is a mere 6.7, just 50 percent of the market average, indicating substantial gains ahead.
The TOP10 stocks are not always the best stocks in the market but ones that are most likely to be the best winners within a fifteen months period. IC ranked stocks to filter out the big winners, allowing investors to focus on potentially big winners and help to keep out emotional attachments to stocks.
 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 movements in and out of the lists weekly. 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.

 

Negative August start for JSE Majors

Stocks started off with losses in the Main Market indices on Tuesday to commence the new month with declining stocks outclassing rising ones more than two to one, with an exchange of 56 percent fewer shares valued 82 percent less than in trading on Friday on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index fell 2,057.62 points to end at 461,426.03, the JSE Main Index fell 2,288.15 points to 421,846.86 and the JSE Financial Index slipped 0.74 points to 103.74.
Trading ended with 52 securities compared to 48 on Friday, with 11 rising, 25 declining and 16 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.2 based on ICInsider.com forecast of 2021-22 earnings.
The market closed with 7,489,347 shares trading for $44,473,648 versus 16,885,082 units at $243,553,449 on Friday. Transjamaican Highway led trading with 21.3 percent of total volume after exchanging 1.60 million shares followed by Wigton Windfarm 20.3 percent, with an exchange of 1.52 million units, QWI Investments controlled 16.8 percent of the market with 1.26 million units and Sagicor Select Financial Fund 14.4 percent after 1.08 million units changed hands.
Trading averaged 144,026 units at $855,262, compared to 351,773 shares at $5,074,030on Friday. Trading for July ended with an average of 322,932 units at $15,201,099.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments spiked 90 cents to $83.90 in trading 1,918 units, Caribbean Cement declined $2.99 to close at $92 with the swapping of 13,745 stock units, Eppley fell $1.70 to $38.30 in switching ownership of 1,891 stocks, Guardian Holdings rallied $1 to $650 in transferring 317 shares, after hitting a 52 weeks’ low of $630. Jamaica Broilers rose 77 cents to $36.40 after 14,855 stocks cleared the market. Jamaica Producers lost 20 cents ending at $23.50 with 8,274 units changing hands, Jamaica Stock Exchange dipped 39 cents to $17.40 with the swapping of 14,293 shares, Kingston Wharves shed $1.24 to finish at $47.76 with an exchange of 4,660 stocks. Margaritaville slipped 42 cents to $14.08 with 60 units crossing the market, NCB Financial dropped $2.40 to $139.60 in transferring 44,860 stock units, Palace Amusement dived $10 to $1,040 in an exchange of 97 units. PanJam Investment shed $1 to close at $64 in trading 3,648 stocks, Pulse Investments fell 20 cents to $3.80 with 20,645 shares clearing the market. Sagicor Group shed $2 to settle at $56 with 71,600 stocks changing hands, Scotia Group fell $1 to $41 after crossing the exchange with 9,844 units, Stanley Motta shed 45 cents at $5.30 with a transfer of 38,239 stocks, Supreme Ventures popped 20 cents to $20.20 in trading 27,025 units and Sygnus Credit Investments lost 28 cents to close at $14.22 in switching ownership of 30,162 stocks.
In the preference segment, Eppley 8.25% gained 40 cents to close at $6.50 in an exchange of 718 shares.

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

Mixed trading for JSE Main Market

Add your HTML code here...

On the penultimate trading day of July, market activity ended with mixed on Thursday, just one stock separating stocks rising and declining after an exchange of 18 percent fewer shares, with 41 percent higher value than on Wednesday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index added just 48.11 points to end at 460,076.56, the JSE Main Index shed 405.69 points to finish at 420,886.99 and the JSE Financial Index slipped 0.23 points to 103.72.
Similar to Wednesday, 49 securities traded, with 20 rising, 19 declining and 10 remaining unchanged. The PE Ratio, a measure that determines appropriate stock values, averages 16.5 based on ICInsider.com’s forecast of 2021-22 earnings.
A total of 11,830,600 shares traded for $136,776,530 versus 14,440,911 units at $97,082,889 on Wednesday. Transjamaican Highway led trading with 38.8 percent after 4.59 million shares changed hands, followed by Radio Jamaica 13.2 percent, with 1.56 million units and QWI Investments 9.1 percent after an exchange of 1.08 million units.
Trading averaged 241,441 units at $2,791,358, compared to 294,712 shares at $1,981,283 on Wednesday. Trading month to date averages 321,606 units at $15,666,712, in contrast to 325,554 units at $16,300,774 on Wednesday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments rose $1.20 to end at $84.70 after exchanging 8,897 shares, Eppley popped $5.77 to $41.87 in trading 1,017 stocks, GraceKennedy lost 30 cents to finish at $99.70 in switching ownership of 117,507 stock units, Guardian Holdings shed $9 to $640 with the swapping of 3,932 units. Jamaica Broilers popped 49 cents to $36.49 in exchanging 6,875 shares, Jamaica Producers rallied $1.50 to $23.50 after transferring 1,500 units, Jamaica Stock Exchange rose 53 cents to $17.83 in trading 3,054 stocks. JMMB Group fell 48 cents to $37.40 with a transfer of 252,605 stock units, Kingston Properties gained 36 cents to end at $9.90 in switching ownership of 5,437 units. Mayberry Investments fell 20 cents to $5.70 in exchanging 11,932 stocks, NCB Financial declined $3 to $139 after 23,985 shares cleared the market. Palace Amusement popped $30 to close at $1,050 in switching ownership of 75 units, Pulse Investments lost 25 cents in closing at $3.76 with the swapping of 414,730 shares, Sagicor Group declined $1 to $55 with 57,606 stock units crossing the market, Scotia Group spiked 50 cents to $41.50 with 446 units clearing the market and Supreme Ventures shed 50 cents at $20 in switching ownership of 10,621 stocks.
In the preference segment, JMMB Group 7% rose 24 cents to $1.84 in trading 541 units.

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

Strong rebound for Main Market on Wednesday

Market activity ended on Wednesday with the indices rebounding strongly after advancing stocks outnumbered declining ones, with the volume of shares traded up 5 percent, but the value dropped 44 percent lower than on Tuesday at the close of the Jamaica Stock Exchange Main Market.
At the close at trading, the All Jamaican Composite Index bolted 4,368.07 points to 460,028.45, the JSE Main Index climbed 3,966.51 points to end at 421,292.68 and the JSE Financial Index rose 1.49 points to 103.95.
Trading ended with 49 securities compared to 50 on Tuesday, with 21 stocks rising, 14 declining and 14 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averaged 16.5 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 14,440,911 shares trading for $97,082,889 versus 13,712,829 units at $174,075,107 on Tuesday. Transjamaican Highway led trading with 27.2 percent for an exchange of 3.93 million shares, followed by JMMB Group 7.5% preference share 24.3 percent, with 3.51 million units and Wigton Windfarm with 12.4 percent exchanging 1.79 million units.
Trading averaged 294,712 units at $1,981,283 compared to 274,257 shares at $3,481,502 on Tuesday. Trading month to date averages 325,554 units at $16,300,774, compared to 327,152 units at $17,042,482 on Tuesday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has 16 stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments fell $1.20 to $83.50 with the swapping of 3,683 shares, Berger Paints rose 64 cents to $13.74 with 29 stocks crossing the market, Caribbean Cement rallied 50 cents to $93.50 in trading 61,824 stock units. Caribbean Producers popped 30 cents to $4.85 with 41,147 shares changing hands, Eppley Caribbean Property Fund shed $1 to settle at $42 in transferring 545 units, GraceKennedy rose $1 to $100 in an exchange of 149,602 stocks. Guardian Holdings bolted $8 to $649 with the swapping of 11,460 stock units, Jamaica Producers gained 29 cents in closing at $22 after exchanging 5,000 shares, Jamaica Stock Exchange slipped 53 cents to $17.30, with the swapping of 3,117 units. JMMB Group lost 37 cents to settle at $37.88, with 59,540 stocks clearing the market, Kingston Wharves shed 34 cents to end at $47.66 with 5,080 stock units crossing the market, Mayberry Jamaican Equities popped 33 cents to $9 in exchanging 34,122 shares. NCB Financial Group rose 50 cents to $142 with 8,605 stocks clearing the market, Palace Amusement shed $1 to end at $1,020 in transferring 67 units, Scotia Group popped $2.01 to $41 after 325,790 stock units crossed the exchange and Supreme Ventures advanced $1.25 to $20.50, with 708,931 shares changing hands.
Guardian Holdings 2025 6.5% corporate bond traded 5 million units and rose 29 cents to $103.32.

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

Declining stocks control on Tuesday

Declining stocks were the dominant feature of trading activity on Tuesday, with the market indices falling for a second consecutive day after almost twice the number of stocks declined than those gaining, with the volume of shares traded climbing 78 percent and the value rising 34 percent above Monday levels, at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index declined by 1,098.23 points to 455,660.38, the JSE Main Index dropped 1,177.18 points to end at 417,326.17 and the JSE Financial Index shed 0.31 points to close at 102.46.
Trading ended with 50 securities down from 51 on Monday, with the prices of 16 rising, 26 declining and eight remaining unchanged. The PE Ratio, a measure that determines the appropriate value stocks, averages 16.4 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 13,712,829 shares trading for $174,075,107, up from 7,709,340 units at $130,066,476 on Monday. Wigton Windfarm led trading with 15.7 percent of total volume for 2.15 million shares followed by Sagicor Select Financial Fund 12.5 percent, with 1.72 million units, Wisynco Group 12.5 percent, with 1.71 million units, Radio Jamaica 12.4 percent, after trading 1.70 million units and Transjamaican Highway 7.7 percent after exchanging 1.06 million units.
Trading averaged 274,257 units at $3,481,502, compared to 151,164 shares at $2,550,323 on Monday. Trading month to date averages 327,152 units at $17,042,482, in contrast to 330,103 units at $17,799,233 on Monday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments rose $1.20 to $84.70 with the swapping of 5,696 shares, Berger Paints shed $1.73 to finish at $13.10 after an exchange of 5,700 units, Caribbean Cement gained 50 cents to close at $93 in trading 22,003 stocks. Caribbean Producers lost 45 cents to settle at $4.55 in switching ownership of 408,848 stock units, Eppley declined $3.40 to end at $36.10 in transferring 787 units, Eppley Caribbean Property Fund climbed $1 to end at $43 with 3,368 stock units changing hands. First Rock Capital fell $1.04 to finish at $13.50 in an exchange of 65,704 shares, Grace Kennedy shed 22 cents in closing at $99 with the swapping of 565,520 units, Guardian Holdings dropped $7 to $641 in trading 4,495 stock units. Jamaica Broilers lost 50 cents at $36 in switching ownership of 618,309 stocks, Jamaica Stock Exchange rallied 33 cents to $17.83 with the swapping of 39,371 units, JMMB Group slipped 43 cents to $38.25 after clearing the market of 168,439 shares. Key Insurance picked up 29 cents to close at $4.80 with 162,141 stock units changing hands, Kingston Wharves shed 99 cents to $48 with a transfer of 68 units, Mayberry Jamaican Equities lost 38 cents to finish at $8.67 with an exchange of 2,242 shares. MPC Caribbean Clean Energy jumped $18.51 to $138 after 64 units cleared the market, NCB Financial spiked $2.50 to $141.50 in trading 31,831 stock units, Palace Amusement bolted $41 to $1,021 with the swapping of 4 stocks. Proven Investments popped 89 cents to $34.99 with 33,406 units clearing the market, Sagicor Group rose $2.08 to $56 with 20,997 shares crossing the exchange, Scotia Group spiked 29 cents to $38.99, with 58,593 stocks trading. Seprod popped 50 cents to $70.50 in transferring 404,614 units, Sterling Investments shed 20 cents to end at $2.80 with the swapping of 350,000 stock units and Wisynco Group gained 29 cents to finish at $15.99 in switching ownership of 1,714,772 shares.
In the preference segment, Eppley 7.50% preference shares fell $1.91 to end at $12.89, with 1,900 units crossing the exchange.

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

JSE Main Market falters to start of week

Market activity ended with the market declining after an equal number of stocks gained and fell on Monday, with an exchange of 51 percent fewer shares valued 24 percent more than on Friday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index fell 1,091.39 points to 456,758.61, the JSE Main Index shed 853.02 points to end at 418,503.35 and the JSE Financial Index slipped 0.48 points to 102.77.
Trading ended with 51 securities compared to 49 on Friday, with 19 stocks rising, 19 declining and 13 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.6 based on ICInsider.com forecast of 2021-22 earnings.
The market closed with 7,709,340 shares trading for $130,066,476 versus 15,681,808 units at $104,944,658 on Friday and 5 million units of corporate bonds traded. Jamaica Broilers led trading with 30.5 percent of total volume for an exchange of 2.35 million shares followed by Transjamaican Highway with 13.9 percent for 1.07 million units for 13.9 percent of the day’s trade and QWI Investments with 7.7 percent for 594,882 units.
Trading averaged 151,164 units at $2,550,323, compared to 320,037 shares at $2,141,728 on Friday. Trading month to date averages 330,103 units at $17,799,233, in contrast to 340,903 units at $18,719,581 on Friday. June ended with an average of Investor’s Choice bid-offer indicator shows ten stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints spiked $1.13 to $14.83 with 2,083 shares crossing the exchange, Eppley fell $3.50 to $39.50 in trading 367 stocks. Eppley Caribbean Property Fund shed 50 cents ending at $42 in exchange of 265 stock units, First Rock Capital lost 35 cents to finish at $14.54 with a transfer of 10,832 shares, Guardian Holdings fell $2 to $648 after exchanging 2,419 units. Jamaica Broilers rallied 48 cents to $36.50 with 2,353,116 shares crossing the market, JMMB Group pushed 36 cents higher to $38.68 in switching ownership of 74,727 stocks, Key Insurance shed 49 cents to $4.51, with 548,051 units clearing the market, Kingston Properties spiked $1.15 to $9.55 with 609 stock units changing hands. Kingston Wharves shed 95 cents to $48.99 in switching ownership of 3,600 stocks, Margaritaville slipped 77 cents to $14.50 with the swapping of 1,226 stock units, Mayberry Investments climbed 35 cents to $6.05 in exchanging 10 units, NCB Financial shed $1 to $139 after transferring 22,714 stocks, 138 Student Living lost 30 cents to close at $4.50 in exchanging 27,372 units, Pan Jam Investment fell $1 to $64 in switching ownership of 685 stocks. Portland JSX advanced $1.20 to $9.20 with the swapping of 541 units, Proven Investments fell 90 cents to $34.10 after exchanging 15,417 shares, Radio Jamaica spiked 11 cents to end trading at a 52 weeks’ closing high of $2.15, with 578,444 shares clearing the market. Sagicor Group dropped $1.83 to $53.92 with the transfer of 55,508 units and Seprod gained 90 cents to end at $70 in exchanging 83,359 stocks.

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

#1 ICTOP10 pick to stun market

ICTOP10 number 1 stock, Radio Jamaica (RJR) price moved up 22 percent since releasing full year results recently, with the stock trading at the highest price in a year, it is set to lose the number one spot sooner than later. The company reported just 7 cents per share from reduced revenues. On the surface, the stock price should at best remain at the prerelease price around $1.70 level, but there is much more to those results that only a more detailed assessment would reveal.

Media house, RJR traded most shares on friday

Based on ICInsider.com research, investors should expect the first quarter profit to exceed the 2021 fiscal year results of $171 million on the way to record just under $1 billion in profit for 2022 to give investors a big payday.
RJR is the sort of stock that few would have on their buy list. After all, the company has not performed particularly well in recent years. Worse the Cocvid-19 pandemic made matters tough for them, with contraction in revenues and initially, reduced profit. What goes for RJR would apply to many of the ICInsider.com top stocks for 2021. ICInsider.com goes beyond the actual results to find important information that is not always useful to many but can provide guidance into the future and expose above average profit growth.
That is one reason why many of the selections at the start of the year have done well. Examples are as such, Caribbean Cream up 43 percent for the year to date started the year at the number 2 spot, Caribbean Producers the number 3 spot selection is up 82 percent, Main Event up 73 percent, Medical Disposables up just 12 percent, Stationery & Office Supplies 55 percent, Lumber Depot 116 percent and Mailpac 32 percent. Later, Future Energy Source was added to the list at the IPO stage and is up an impressive 110 percent. Additionally, Jetcon Corporation up 76 percent and Jamaican Teas 100 percent are not being counted. The Main Market with few overall winners for that market so far also produced winners from the TOP15 list, posted at the start of the year, Grace, Carreras, Caribbean Cement and Jamaica Broilers.
The TOP10 stocks are not always the best in the market but are most likely to be the best winners within a fifteen-month period. IC ranked stocks to filter out the big winners, allowing investors to focus on potentially big winners and help to keep out emotional attachments to stocks.
PanJam Investment earnings is downgraded to $4.50 per share and the stock moved out of the TOP10 Main Market listing and is replaced by Scotia Group, now in at tenth spot. There are no changes in or out of the Junior Market list.
This past week the average gains projected for the Junior Market moved up from 183 percent last week back to 202 percent and Main Market stocks moved to 164 percent from 176 percent.
The top three stocks in the Junior Market continue, with Elite Diagnostic heading the list, followed by Caribbean Assurance Brokers and Medical Disposables, with potential to gain between 237 percent and 291 percent compared to 233 and 242 percent last week. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by JMMB Group Guardian Holdings, with expected gains of 183 to 292 percent as RJR price rose and reducing its future potential growth, versus last weeks’ 181 to 379 percent.
The Junior Market closed the week with an average PE 13.1 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the recent historical average of 17 for the period to March this year based on 2020 earnings. For the Junior Market to trade at the historical average, the PE Ratio would have to rise 30 percent and requires a rise of 53 percent to reach the targeted PE of 20 by March 2022. Main Market stocks would have to rise by 17 percent to hit a PE of 19 and 23 percent to get to the target of 20. The Junior Market Top 10 stocks average PE is a mere 6.8, just 52 percent of the market average, indicating substantial gains ahead.
The JSE Main Market ended the week with an overall PE of 16.4, a little distance from the 19 the market ended at in March, suggesting just a 17 percent rise at a PE of 19 and 23 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.8 or 48 percent of the PE of that market, 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 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.

Rally for JSE Main Market

Market activity ended on Friday with a 25 percent rise in the number of stocks trading with value jumping 125 percent over Thursday’s level leading to a rise in the All Jamaican Composite Index of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index popped 853.62 points to 457,850.00, the JSE Main Index dipped 52.77 points to 419,356.37 and the JSE Financial Index inched 0.08 points higher to 103.25.
Trading ended with 49 securities compared to 52 on Thursday, with 21 stocks rising, 22 declining leaving six unchanged. The PE Ratio, a measure that determines an appropriate relative stock value, averages 16.2 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 15,681,808 shares trading for $104,944,658 versus 12,497,532 units at $46,668,151 on Thursday. Wigton Windfarm led trading with 34.1 percent of total volume after exchanging 5.34 million shares followed by Sagicor Select Financial Fund, with 32.2 percent for 5.06 million units and Carreras 3.9 percent, with 610,110 units.
Trading averaged 320,037 units at $2,141,728, compared to 240,337 shares at $897,464 on Thursday. Trading month to date averages 340,903 units at $18,719,581, in contrast to 342,188 units at $19,740,077 on Thursday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has 14 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints shed $1.30 to end at $13.70 in trading 1,713 shares, Caribbean Cement rose 30 cents to close at $92.50 with the swapping of 58,979 shares. Eppley rallied $3.30 to settle at $43 after exchanging 9,860 stocks, Eppley Caribbean Property Fund shed 50 cents to end at $42.50 with a transfer of 1,393 units, GraceKennedy spiked $1.22 to $99.22 with 67,577 stocks crossing the market. Guardian Holdings dropped $14 to $650 after 1,474 stock units crossing the market, Jamaica Broilers shed 48 cents to $36.02 in switching ownership of 117,897 shares, Jamaica Producers declined $2.36 to $21.64 with 25,860 stocks changing hands. Jamaica Stock Exchange lost 34 cents to close at $17.31 in transferring 39,838 stock units, Kingston Wharves rose 44 cents to $49.94 in switching ownership of 5,128 stocks, Margaritaville spiked 77 cents to $15.27 in trading 300 units. Palace Amusement dived $120 to $980 with 102 stocks crossing the exchange, Scotia Group lost 37 cents to $38.75 in trading 126,690 shares, Seprod rallied $1.98 to $69.10 in switching ownership of 90,663 stock units, Sterling Investments gained 20 cents to finish at $3 in exchanging 101,297 units and Supreme Ventures popped 30 cents to close at $19.25 with the swapping of 201,367 shares.
In the corporate bond market, Guardian Holdings 6.5% due 2025 traded 14 million units at $101.28.

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

JSE majors climb for a second day

The volume of shares trading climbed sharply by 66 percent, but the value fell 55 percent below Wednesday outturn as the market closed on Thursday, with the main indices adding to the previous day’s gains at the close of the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index added 1,435.41 points to 456,996.38, the JSE Main Index rose 944.89 points to end at 419,409.14 and the JSE Financial Index lost 0.07 points to 103.17.
Trading ended with 52 securities compared to 54 on Wednesday, with 22 stocks rising, 21 declining and nine remaining unchanged and three stocks traded at 52 weeks’ highs. The PE Ratio, a measure that determines an appropriate value for a stock, averages 16.3 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 12,497,532 shares trading for $46,668,151 versus 7,532,755 units at $103,655,179 on Wednesday. Radio Jamaica led trading with 34 percent of total volume for 4.24 million shares, followed by Wigton Windfarm 23.1 percent, with 2.88 million units and Sagicor Select Financial Fund 18.8 percent, with 2.35 million units changing hands.
Trading averaged 240,337 units at $897,464, compared to 139,495 shares at $1,919,540 on Wednesday. Trading month to date, averages 342,188 units at $19,740,077, in contrast to 349,306 units at $21,057,034 on Wednesday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints popped $1.10 to $15 in switching ownership of 2,136 shares, Caribbean Cement shed 55 cents to $92.20 in trading 4,219 stock units, Eppley declined $3.93 to $39.70 after transferring 506 units, First Rock Capital rallied $1.02 to $14.88 in exchanging 2,942 stocks, GraceKennedy shed $1.50 to $98 with the swapping of 58,314 shares. Guardian Holdings dropped $6 to $664 in an exchange of 1,972 units, Jamaica Broilers rose 47 cents to $36.50 with 21,594 shares crossing the market, Jamaica Producers spiked $3 to $24 with an exchange of 6,400 units. Kingston Properties shed $1.46 to $8.44 in trading 3,287 stocks, Kingston Wharves popped $1.90 to $49.50 with 2,362 stock units changing hands, PanJam Investment pushed $1 higher to $65 in switching ownership of 1,021 units, Proven Investments spiked 40 cents to finish at $34.90 in exchanging 19,317 shares. Radio Jamaica popped 7 cents to end at a 52 weeks’ closing high of $2.12 after hitting a high of $2.35 in trading 4,244,290 stock units, Sagicor Group rose 60 cents to $55.60 with the swapping of 7,350 units, Scotia Group rallied 42 cents to $39.12 in exchanging 36,715 shares, Seprod fell $2.07 to $67.12 in transferring 5,569 units, Sterling Investments lost 20 cents to end at $2.80 in exchanging 140,000 stock units, Supreme Ventures dipped 24 cents to $18.95 in trading 94,131 shares and Victoria Mutual Investments popped 40 cents to end at $6.40 in switching ownership of 13,298 stock units.
In the preference segment, 138 Student Living preference share rose 97 cents to $7.47 in exchanging 400 stock units and JMMB Group 7.15% – due 2028 popped 75 cents to $3.35 with 9,961 stocks crossing the exchange.

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