Mild rebound for Junior Market

Trading picked up on the Jamaica Stock Exchange Junior Market on Thursday and leading to a rise in the Market index and breaking five consecutive days of decline, with the volume of stocks traded rising 183 percent and the value 119 percent more than on Wednesday and leaving declining stocks just ahead of those increasing, at the close.
Like Wednesday, all but one of the 45 listed securities traded on Thursday, with 15 rising, 17 declining and 12 closing unchanged. The Junior Market Index gained 25.36 points to 4,361.52.
The PE Ratio, a measure often used in computing appropriate stock values, averages 13.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
A total of 18,169,661 shares traded for $63,184,225 compared to 6,419,876 units at $28,806,239 on the Wednesday. Trading averaged 412,947 shares at $1,436,005 up from 145,906 shares at $654,687 on Wednesday, with month to date, averaging 442,970 units at $1,916,895 compared to 445,304 units at $1,954,279 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Derrimon Trading led market activity, with 11.56 million shares for 63.6 percent of total volume, followed by Lumber Depot with 1.91 million units for 10.5 percent of the day’s trade and Tropical Battery with 937,196 units for 5.2 percent market share.
The Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, CAC 2000 fell $1.21 in closing at $6.25, with 1,917 shares crossing the market, Caribbean Cream gained 24 cents to close at $5.17 while exchanging 82 stock units, Dolphin Cove climbed 61 cents to end at $20.11 after 19,815 units changed hands. Everything Fresh increased 10 cents to $1.60 after exchanging 8,702 stocks, Express Catering shed 10 cents in ending at $5.90 after trading 24,213 shares, Fontana declined 20 cents to $10.30, with 33,181 units crossing the market. Fosrich lost 30 cents to end at $28 in trading 140,251 stock units, General Accident dropped 10 cents in ending at $5.90, with 13,319 stocks crossing the exchange, Jetcon Corporation advanced 10 cents in closing at $1.55 after trading 29,805 stock units. Lumber Depot rallied 22 cents to close at $3.50 in switching ownership of 1,911,005 shares, Mailpac Group rose 20 cents to $2.95, with 166,653 stocks clearing the market, Medical Disposables dropped 43 cents in closing at $7.96 with an exchange of 64,569 units and Tropical Battery popped 14 cents to end at $2.75 with the swapping of 937,196 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market falls for a 5th day

Trading activity contracted Wednesday on the Jamaica Stock Exchange Junior Market, with the volume of stocks trading declining 53 percent and the value dropping 41 percent lower than on Tuesday, with 44 securities changing hands against 43 on Tuesday, with 20 rising, 17 declining and seven closing unchanged.
At the close, the Junior Market Index fell 38.57 points to 4,336.16 and is down 228 points after declining for five straight days.
The PE Ratio, a measure of computing appropriate stock values, averages 13.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 6,419,876 shares traded for $28,806,239 versus 13,653,490 units at $48,511,390 on Tuesday.  Trading averaged 145,906 shares at $654,687 in contrast to 317,523 shares at $1,128,172 on Tuesday with month to date, averaging 445,304 units at $1,954,279 compared to 470,540 units at $2,063,823 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Spur Tree Spices led trading with 946,973 shares for 14.8 percent of total volume, followed by JFP Limited with 848,378 units for 13.2 percent of the day’s trade and Tropical Battery, 624,509 units for 9.7 percent market share.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial slipped 18 cents to $23.15, with ten shares changing hands, Blue Power advanced 24 cents to $3.94 in an exchange of 110 stock units,  Cargo Handlers rose 93 cents in closing at $11.86 after an exchange of 55 units. Derrimon Trading gained 11 cents to end at $3.07, trading 170,395 stocks, Dolphin Cove dropped $1.20 to close at $19.50, with 26,607 shares crossing the exchange, Elite Diagnostic declined 37 cents to close at $3.78 in switching ownership of 340,612 stock units. Fosrich fell $1.69 to $28.30 with an exchange of 234,432 units, Future Energy Source climbed 31 cents to end at $6.20 in exchanging 494,350 stocks, Honey Bun rallied 10 cents to $9.30 after 18,462 units crossed the market. iCreate shed 25 cents in closing at $3.55 while exchanging 191,897 stocks, Iron Rock Insurance increased 14 cents in ending at $3.30 after trading 125 stock units, Jetcon Corporation lost 10 cents to close at $1.45 after 438,574 shares changed hands. Knutsford Express popped 20 cents in closing at $7.80 in trading 18,743 shares, Lasco Distributors gained 17 cents to $3.50 with the swapping of 226,885 units, Main Event climbed 73 cents to end at $8.99 with 43,200 stock units clearing the market. Spur Tree Spices increased 12 cents ending at $3.90, with 946,973 stocks crossing the market, Stationery and Office Supplies shed 49 cents to $13.01 in swopping ownership of 79,888 shares and Tropical Battery dipped 14 cents to close at $2.61, with 624,509 units changing hands.

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

More fall for Junior market

Trading closed on the Jamaica Stock Exchange Junior Market Tuesday, with the volume of stocks changing hands declining by 38 percent and the value falling 35 percent from Monday’s trades as investors’ interest in buying stocks waned, sending the market into further decline for the week to date.
Market activity led to 43 securities trading, down from 45 on Monday and ended with 15 rising, 19 declining and nine closing unchanged.
At the close, the Junior Market Index dropped 36.97 points to settle at 4,374.73 and is down 7 percent from the market’s peak last week.
The PE Ratio, a measure of computing appropriate stock values, averages 13.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 13,653,490 shares traded for $48,511,390 compared to 21,953,604 units at $74,776,818 on the Monday. Trading averaged 317,523 shares at $1,128,172 down from 487,858 shares at $1,661,707 on Monday with month to date, averaging 470,540 units at $2,063,823 compared to 484,277 units at $2,147,816 on Monday the previous trading day. April ended with an average of 449,923 units at $1,781,786.
JFP Limited led trading with 3.69 million shares for 27 percent of total volume, followed by Future Energy Source with 1.97 million units for 14.5 percent of the day’s trade, Mailpac Group traded 1.90 million units for 13.9 percent of market share. Spur Tree Spices ended with 1.78 million units for a 13 percent market share and Tropical Battery with 1.24 million units for a 9.1 percent market share.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and one with a lower offer.
At the close, Access Financial advanced $1.85 to $23.33 after exchanging 1,015 shares, AMG Packaging declined 20 cents to $3.50 while trading 90,887 stocks, Blue Power fell 25 cents in closing at $3.70 with the swapping of 162 units. Cargo Handlers dropped 82 cents to end at $10.93 after trading 845 stock units, Caribbean Cream lost 30 cents to close at $4.90 after 30,250 units crossed the exchange, Dolphin Cove climbed 89 cents in closing at $20.70 in switching ownership of 12,082 shares. Elite Diagnostic rose 40 cents to $4.15 with an exchange of 238,300 stocks, Fontana shed 48 cents ending at $10.50 in trading 80,397 stock units, Fosrich shed 79 cents to close at $29.99, with 91,153 stock units changing hands. Future Energy Source declined 42 cents to $5.89 after 1,973,947 units crossed the market, ISP Finance gained $1.43 to close at $29.50 trading 31 stocks, Jamaican Teas rallied 11 cents in closing at $3.48 while trading 455,898 shares. Jetcon Corporation popped 13 cents to $1.55, with 68,666 units crossing the market, JFP Limited lost 15 cents to end at $1.54 in exchanging 3,691,107 shares, Knutsford Express dropped 20 cents in ending at $7.60, with 3,000 stock units clearing the market. Lasco Distributors fell 17 cents in closing at $3.33 after exchanging 119,173 stocks, Main Event fell 74 cents to close at $8.26 after an exchange of 95,412 stocks, Medical Disposables increased 85 cents to end at 52 weeks’ high of $8.40, with 98,567 stock units changing hands. Spur Tree Spices dropped 22 cents in ending at $3.78 after 1,780,721 units crossed the market, Stationery and Office Supplies increased 50 cents to end at 52 weeks’ high of $13.50 in switching ownership of 52,406 shares and tTech rallied 15 cents to $3.65, with 12,050 stock units crossing the market.
In the preference segmentCAC 2000 9.5% preference share climbed 15 cents to close at $1.15, with an exchange of 493 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market drops for a third day

Add your HTML code here...

Trading closed on the Jamaica Stock Exchange Junior Market Monday, with the volume of stocks traded rising 46 percent with a moderately higher value than on Friday and ended with the Junior Market Index shedding 32.55 points to close at 4,411.70.
Market activity led to 45 securities trading compared to 44 on Friday and ended with 15 rising, 17 declining and 13 closing unchanged.
The PE Ratio a measure used to compute appropriate stock values, averages 13.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 21,953,604 shares traded for $74,776,818 compared to 14,998,955 units at $69,879,663 on the Friday. Trading averaged 487,858 shares at $1,661,707 in contrast to 340,885 shares at $1,588,174 on Friday with month to date, averaging 484,277 units at $2,147,816 compared to 483,905 units at $2,198,219 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
JFP Limited led trading with 6.68 million shares for 30.4 percent of total volume, followed by Tropical Battery with 2.74 million units for 12.5 percent of the day’s trade, Elite Diagnostic with 2.22 million units for 10.1 percent market share, followed by Future Energy Source ended with 1.39 million units for 6.3 percent market share, Spur Tree Spices closed with 1.32 million units for 6 percent market share and Lumber Depot, 1.02 million units for 4.6 percent of the day’s trade.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging gained 20 cents to close at $3.70 trading of 82,039 shares, Cargo Handlers popped $1.50 to $11.75 with an exchange of 5,770 stock units, Consolidated Bakeries popped 13 cents to $1.39, with 439,482 stocks crossing the exchange. Derrimon Trading  26 cents to end at $2.94, with 837,205 units passing through the market, Dolphin Cove climbed $1.81 to $19.81, with 71,493 units clearing the market, EduFocal lost 10 cents to close at $3.12, trading 971,822 shares. Elite Diagnostic declined 25 cents to end at $3.75 while exchanging 2,215,388 stock units, Fosrich dropped 20 cents in closing at $30.78 in switching ownership of 135,750 stocks, and Future Energy Source fell 19 cents to $6.31 in an exchange of 1,390,058 units. iCreate declined 26 cents to close at $3.75 after exchanging 74,053 stocks, ISP Finance jumped $5.77 to $28.07, with 35 shares crossing the market, Jamaican Teas dropped 11 cents in closing at $3.37 after 531,901 stock units changed hands. KLE Group gained 25 cents in ending at $2.40 and exchanging 6,000 stock units, Limners and Bards fell 14 cents to close at $3.15 with the swapping of 51,280 units, Main Event rallied 50 cents to end at $9, with 78,728 stocks changing hands. Medical Disposables climbed 29 cents to $7.55 in trading 205,196 shares, SSL Venture gained 10 cents in closing at $1.75 after exchanging 518,833 units, Stationery and Office Supplies climbed $2 to a 52 weeks’ closing high of $13 after 219,069 stock units crossed the market and Tropical Battery shed 15 cents to close at $2.75 while exchanging 2,742,878 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

72% gains for ICTOP10 winner

Stationery and Office Supplies (SOS) is up 72 percent in 2022 and is heading to more than $20 with projected earnings of $1.25 for the year. SOS made the ICTOP15 list in January at 12 spot to produce a 200 percent gain for the year. It came into TOP10 in the week ending January 21, in the 6th spot and exited the TOP10 on the week ending April 22.

Stationery & Office Supplies hit a record high on Friday.

Stationery & Office Supplies – Montego Bay office.

Over the past two weeks, company results have been coming out fast and furious, with many posting solid increased profits over the first quarter of 2021, as the economy continues to recover and cost savings also takes hold to help lift profits to record levels in many cases.
One company to benefit from improved results for the first quarter results to March is SOS, with revenues rising 37 percent to $427 million and profits surging 344 percent to $81 million before gains from the sale of a property, investors belated warmed to the stock pushing it to a 52 week’s high of $11.02 and out of ICTOP10. Based on the results, ICInsider.com upgraded earnings from $1.10 to $1.25. Investors in the stock can look for a possible stock split this year if the price rises.
It is well worth noting that the Junior Market peaked at 4,669.78 points at the market opening on May 10 and pulled back to 4,444.25 on Friday as new quarterly results tempered investors in some overvalued stocks that have started to adjust downwards as reality sets in. Among them is Fesco, which was selling at a PE of 50 times the current year’s earnings. There seem to be more painful adjustments to come for investors in this stock. MailPac also suffered a reversal in price after the first quarter results disappointed investors, with lower revenues and earnings.
It is not unusual for investors to take a break after mid-May each year, with most results released and return in late June or early July just ahead of the new earnings season for the half year. Against this background, trading could move sideways for a month or two, but the Lasco companies, Access and Medical Disposables could light up the market when they release results in a few weeks.

Berger Paints annual report had good news for investors to digest.

In the Main Market, Jamaica Stock Exchange was added to the ICTOP10 recently but slipped out last week and reported solid results for the March quarter, with profit jumping 84 percent after revenues rose 37 percent. The projected earnings were downgraded to $1.30 from $3, leaving the stock just about appropriately valued. Berger Paints came out with solid earnings, resulting in our projection being upgraded from $1.70 to $2.35, helped by a sharp cut in other operating expenses from $160 million in 2021 to $117 million and now heads the Main Market TOP10 list.
Elite Diagnostic gained 3 percent for the week at $4, but the promise that the company showed when it was listed has started to show again, with revenues in the third quarter rising 24 percent to $161 million and profit surging to $28 million from $4.4 million in 2021. Based on the results, earnings for the current year ending in June are projected at 24 cents and 55 cents for the 2022/23 fiscal year.
Former ICTOP10 listing, Tropical Battery earnings were downgraded to 18 cents per share for this year, following the release of March half year results.
Access Financial jumped 22 percent last week, and is down 16 percent this past week at $21.50, and attracted more buying interest as the release of year results approaches. tTech tumbled 8 percent during the week and AMG Packaging 7 percent. Caribbean Assurance Brokers was the only stock with any meaningful gain, with a rise of 6 percent.
This week, there was no change to ICInsider.com TOP10 Main Market listings, but the Junior Market has two, with Lasco Distributors just slipping out. Jetcon Corporation suffered a big price decline during the week to close at $1.35 to reenter the list. tTech earnings were revised down to 25 cents after the company posted flat sales in the first quarter and a small loss and fell out of the top listing to be replaced by Dolphin Cove is poised to grow much more this year as improving tourism traffic that April numbers show is virtually back to normal provide a big boost to future earnings.
Investors should be on the lookout for companies with March year end that have not yet reported earnings. Amongst the grouping are the three Lasco companies that could get price moving punch from the results. Watch also Access and Medical Disposables sitting on the TOP of the list, with the company said to be generating profit from the acquisition of Cornwall Enterprises, well ahead of the two year target. ICInsider.com earnings projections of 70 cents per share for the 2022 fiscal year assume that earnings would include profit from the subsidiary and should result in a big jump in the stock toward $14.
The primary mover in the main market was Caribbean Cement that fell 12 percent to $61 as buying interest in the stock remains low, even as the first quarter results suggest the stock is highly undervalued, no other stock had any serious change.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15.3, while the Junior Market PE for the Top 10 sits at 6.3 versus the market at 13.9. The Junior Market TOP10 is projected to gain an average of 226 percent by May 2023 and the Main Market 215 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.

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

Junior Market loses more grounds

Trading closed on the Jamaica Stock Exchange Junior Market Friday, with the volume of stocks traded declining by 36 percent with the value 24 percent lower than on Thursday and resulting in falling stock prices overwhelming those rising, with earnings season virtually at an end.
Market activity led to 44 securities trading the same as Thursday and ended with only 10 rising, 23 declining and 11 unchanged. At the close, the Junior Market Index fell 20.57 points to 4,444.25.
The PE Ratio, a measure of computing appropriate stock values averages 13.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 14,998,955 shares traded for $69,879,663 versus 23,316,932 units at $92,287,477 on the Thursday. Trading averaged 340,885 shares at $1,588,174 down from 529,930 shares at $2,097,443 on Thursday with month to date, averaging 483,905 units at $2,198,219 compared to 500,041 units at $2,267,045 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Spur Tree Spices led trading with 1.91 million shares for 12.7 percent of total volume, followed by Derrimon Trading with 1.59 million units for 10.6 percent of the day’s trade, Honey Bun chipped in with 1.21 million units for 8 percent market share, JFP Limited traded 1.16 million units for 7.7 percent market share, Elite Diagnostic, 1.13 million units for 7.5 percent of the volume and Future Energy Source with 1.02 million units for 6.8 percent market share.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial rose 59 cents to $21.50 after exchanging 149 shares, Cargo Handlers lost $2.75 to $10.25 in an exchange of 23,829 units, Caribbean Assurance Brokers popped 15 cents in closing at $2.59 while trading 45,112 stocks. Dolphin Cove declined $3.20 in ending at $18 in exchanging 105,134 stock units, EduFocal fell 13 cents to close at $3, with 642,761 stocks crossing the market, Fontana advanced 89 cents to $10.99 in an exchange of 85,158 stock units. Fosrich lost $1 in ending at $30.98 with 122,203 units changing hands, Future Energy Source shed 38 cents to close at $6.50 in switching ownership of 1,017,033 shares, General Accident lost 15 cents to close at $5.95, with 13,000 units clearing the market. Honey Bun dropped 15 cents to $9.20 after finishing trading of 1,206,963 stocks, Iron Rock Insurance shed 25 cents to close at $3.20 in an exchange of 26,771 stock units, Jetcon Corporation fell 26 cents to end at $1.35, trading 102,085 shares. Lasco Distributors climbed 10 cents to $3.50, with 828,816 shares crossing the market, Lasco Financial gained 19 cents to $3.59 in trading 539,344 units, Main Event declined 49 cents in closing at $8.50 with the swapping of 325,825 stocks. Stationery and Office Supplies rallied $3.40 to a 52 weeks’ high of $11 after 429,937 stock units changed hands and tTech fell 25 cents to end at $3.50, with 26,531 stocks crossing the exchange.
In the preference segmentCAC 2000 9.5% preference share declined 11 cents in, ending at $1.05, with 4,867 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More Junior Market stocks fell than rose

Trading on the Jamaica Stock Exchange Junior Market on Wednesday resulted in the volume and value of stocks traded declining 7 percent and 15 percent, respectively, from Tuesday and ended with more stocks falling than rising.
All but one of the 45 listed stocks traded on Wednesday, numbering 44, similar to Tuesday, ending with 13 rising, 19 declining and 12 closing unchanged and the Junior Market Index rose just 3.59 points to 4,564.38Blue Power ended at a 52 weeks’ closing high of $.455, iCreate traded at an intraday high of $4.45 and Derrimon Trading ended at a 52 weeks’ closing high of $3.46.
The PE Ratio, a measure of computing appropriate stock values, averages 14.1. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 21,140,775 shares traded for $84,601,284 compared to 22,692,843 units at $99,354,256 on the Tuesday. Trading averaged 480,472 shares at $1,922,756 in contrast to 515,746 shares at $2,258,051 on Tuesday with month to date, averaging 496,240 units at $2,288,613 compared to 498,537 units at $2,341,916 on Tuesday the previous trading day. April closed with an average of 449,923 units at $1,781,786.
JFP Limited led trading with 4.38 million shares for 20.7 percent of total volume, followed by Future Energy Source with 2.62 million units for 12.4 percent of the day’s trade. Lasco Distributors controlled with 2.51 million units for 11.9 percent market share, Derrimon Trading, 2.19 million units for 10.4 percent market share, EduFocal traded 1.74 million units for 8.2 percent market share and Tropical Battery, 1.50 million units for 7.1 percent market share.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial declined $1.08 to end at $23.40 in an exchange of 4,470 shares, AMG Packaging lost 10 cents to close at $3.65 in trading 61,147 units, Caribbean Cream popped 15 cents to $5.35 in switching ownership of 38,465 stocks. Caribbean Flavours climbed 10 cents in closing at $2.08 after trading 12,502 stock units, Derrimon Trading gained 11 cents in ending at $3.46 and exchanging 2,190,743 units, Dolphin Cove fell $1.78 to $20.56, with 43,509 stocks crossing the exchange. EduFocal shed 74 cents to close at $3.35, with 1,743,479 shares crossing the market,Elite Diagnostic rallied 55 cents to $4.30 while exchanging 84,392 stock units, Fontana rose 20 cents to $11.10, trading 178,349 shares. Fosrich dropped 61 cents in closing at $33.89 after trading 307,960 stock units, Future Energy Source shed 13 cents to close at $6.87, with 2,622,002 stocks changing hands, Honey Bun lost 16 cents in closing at $9.21 after exchanging 38,855 units. iCreate fell 24 cents to $4.02, with 662,269 stock units changing hands, ISP Finance jumped $6.52 to $29.50, with 635 units crossing the market, Jetcon Corporation fell 12 cents to $1.63 with the swapping of 324,421 stocks. JFP Limited advanced 18 cents to close at $1.68 with an exchange of 4,380,376 shares, KLE Group climbed 24 cents in closing at $2.39 with 12,280 stock units clearing the market, Lumber Depot dipped 12 cents to $3.27 trading 413,408 shares. Medical Disposables advanced 30 cents to $7 after 23,478 stocks crossed the market, Spur Tree Spices shed 10 cents to end at $4.10 while exchanging 1,359,511 units, Tropical Battery fell 12 cents to end at $3.08 after trading 1,499,721 units and tTech fell 30 cents to $3.50, with 134,649 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

RJR back in 3rd spot as Access jumps 22%

There is only one change to ICInsider.com TOP10 listings this week, with Radio Jamaica coming back in the Main Market list at position 3. Following an earnings upgrade for the 2023 fiscal year, it replaces Jamaica Stock Exchange that ICInsider.com projects to have explosive results for the first quarter.

Radio Jamaica

In the wider market, Junior Market stocks keep on piling the pressure on the main market with the former closing the week at a record high, with year to date gains of 32.8 percent and is well on the way to ICInsider.com forecast of 60 percent for the year.
Thanks to a takeover announcement of AS Bryden, a Trinidad based company by Seprod, the Main Market moved higher for the week, with the All Jamaica Index just under 460,000 points, still well below 2020 high.
TOP10, Access Financial shares moved higher this past week as selling seems to have dried up and led the stock to a 22 percent rise during the week, to be the best performing stock in the TOP10. Access Financial has been beaten up for more than two years but is now worth watching. On Friday, well ahead of the close of the market, a buy order for 100,000 Access Financial shares was placed at $25.60, but only18,000 units were filled up to the close. There were no stocks on offer with any sizable quantity close to the bid price just before close, indicating that the price is heading higher.
Elite Diagnostic gained 8 percent to close the week at $3.90, but Caribbean Assurance Brokers that reported a profit for the first quarter versus a loss in 2021, fell by 6 percent and so did General Accident that is said to be having a good 2022, with Trinidad and Barbados expected to deliver positive results versus a loss of around $200 million in 2021. Movement of main market stocks was more subdued than their junior counterpart, with the Jamaica Stock Exchange rising a mere 4 percent and selling at 8 times this year’s earnings, with a blowout first quarter results due shortly. Caribbean Cement, surprisingly, fell 8 percent as buying interest in the stock is low, even as the first quarter results suggest the stock is highly undervalued.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15.5, while the Junior Market PE for the TOP10, sits at 6.2 versus the market at 13.8. The Junior Market TOP10 is projected to gain an average of 230 percent to May 2023 and the Main Market 201 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.

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

Junior Market ekes out gain

Trading closed on the Jamaica Stock Exchange Junior Market Wednesday, with the volume of stocks traded slipping moderately, with a 20 percent lower value than was than on Tuesday, leading to an equal number of stocks rising and declining.
A total of 41 securities trading compared to 43 on Tuesday, with 18 rising, 18 declining and five closing unchanged.
At the close, the Junior Market Index popped 9.99 points to end at 4,462.21.
The PE Ratio, a measure of computing appropriate stock values, averages 14.7. The Junior Market PE ratios incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.

Overall, 12,678,453 shares traded for $58,144,463 compared to 13,201,837 units at $72,767,087 on the Tuesday. Future Energy Source led trading with 2.35 million shares for 18.5 percent of total volume followed by Jamaican Teas with 1.85 million units for 14.6 percent of the day’s trade, iCreate ended with 1.70 million units for 13.4 percent market share and EduFocal, 1.15 million units for 9.1 percent market share.
Trading averaged 309,231 shares at $1,418,158 compared to 307,019 shares at $1,692,258 on Tuesday with the month to date, averaging 454,840 units at $2,514,738 compared to 524,258 units at $3,037,526, previously traded. April closed with an average of 449,923 units at $1,781,786.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial lost 50 cents to close at $21 in trading 1,356 shares, Derrimon Trading advanced 12 cents after ending at a 52 weeks’ high of $3.05 in exchanging 747,293 stock units, Dolphin Cove declined $1.40 to $20, with 160,113 units crossing the market. EduFocal rallied 21 cents to end at $3.29 with an exchange of 1,152,223 stocks, Elite Diagnostic rallied 10 cents in closing at $4 with the swapping of 17,586 shares, Fontana gained 50 cents to close at $11 in switching ownership of 146,566 units. Fosrich shed $2.05 to end at $32.92 after exchanging 101,170 stock units, Future Energy Source increased 22 cents to $7 trading 2,351,607 stocks, General Accident fell 26 cents in closing at $6.14 after an exchange of 8,286 units. iCreate climbed 95 cents to close at a 52 weeks’ high of $4.19, with 1,696,163 stocks crossing the exchange, Jamaican Teas dropped 27 cents to $3.53 in an exchange of 1,850,548 stock units, Knutsford Express shed 10 cents in closing at $7.80, with 107,922 shares crossing the market. Lasco Distributors dropped 18 cents to end at $3.30, with 1,551 stock units changing hands, Lasco Financial rose 10 cents to $3.40 after exchanging 92,884 shares, Lasco Manufacturing advanced 25 cents to close at $5.35 with 11,010 stocks clearing the market. Main Event climbed 98 cents to $9.98 while exchanging 28,655 units, Medical Disposables popped $1 to end at $7, trading 212,382 stock units and tTech declined 17 cents to $3.78 after exchanging 34,471 units.

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

Junior Market hits new high on Monday

Trading jumped sharply at the close of the Jamaica Stock Exchange Junior Market Monday, with the volume of stocks traded rising 201 percent and the value jumping 301 percent higher than on Friday. The market Index to rise 33.71 points to settle at a record close of 4,485.33 after the market hit a record intraday high of 4,523.62 points at the commencement of trading.
Market activity led to 43 securities trading compared to 44 on Friday and ended with 14 rising, 21 declining and eight closing unchanged.
The PE Ratio, a measure of computing appropriate stock values, averages 14.4. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
Overall, 31,884,375 shares traded for $188,460,185, up from 10,594,910 units at $46,967,519 on the Friday. Future Energy Source led trading with 20.95 million shares accounting for 65.7 percent of total volume, followed by EduFocal with 2.11 million units for 6.6 percent of the day’s trade. Tropical Battery ended with 1.79 million units for 5.6 percent market share and Spur Tree Spices traded 1.21 million units changing hands for 3.8 percent market share.
Trading averaged 741,497 shares at $4,382,795, up from 240,793 shares at $1,067,444 on Friday with month to date. April closed with an average of 449,923 units at $1,781,786.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial rose 47 cents to end at $21.50 with the swapping of 3,718 shares, AMG Packaging lost 25 cents to $3.55 after finishing trading of 216,517 stock units, CAC 2000 declined 90 cents in closing at $6.10 with an exchange of 63,741 stocks. Fosrich surged $5.60 to a record close of $33.60, trading 876,728 units, Future Energy Source gained 50 cents to close at $6.50 after ab exchange of 20,948,044 stocks, iCreate popped 43 cents in closing at a record high of $3.48 in trading 935,802 stock units. Iron Rock Insurance increased 39 cents after ending at $3.60, with 131 shares changing hands, Jamaican Teas climbed 15 cents to $3.75 in switching ownership of 350,251 units, Jetcon Corporation advanced 21 cents to close at $1.84 in an exchange of 444,411 shares. Lasco Manufacturing rallied 33 cents to end at $5.58 after exchanging 20,611 units, Spur Tree Spices fell 18 cents in closing at $4.07 after an exchange of 1,206,504 stocks and Stationery and Office Supplies gained 20 cents to end at $9.50, with 14,980 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.