Investors flexed their financial muscles on Monday and sent the value of shares trading soaring 63 percent higher than on Friday at the close of the Jamaica Stock Exchange Main Market and sending the market indices higher after rising stocks to just edged out those declining.
The All Jamaican Composite Index rallied 2,398.59 points to settle at 445,942.35, the Main Index rose 1,974.48 points to 405,845.78 and the JSE Financial Index gained 0.47 points to end at 99.30.
Trading ended with 55 securities compared to 52 on Friday, with 23 stocks rising, 22 declining and 10 ending unchanged. The PE Ratio, a measure used in computing appropriate stock values, averages 15.7 based on ICInsider.com forecast of 2021-22 earnings.
Trading pulled out 12,618,882 shares for $154,663,612 versus 11,341,314 units at $94,854,280 on Friday. Transjamaican Highway led trading with 22.4 percent for an exchange of 2.83 million shares followed by Wisynco Group 21.8 percent with 2.76 million units, Wigton Windfarm with 17.7 percent after exchanging 2.24 million units and Pulse Investments 11.3 percent with 1.43 million units changing hands.
Trading averages 229,434 shares at $2,812,066, compared to 218,102 units at $1,824,121 on Friday and month to date, an average of 297,200 units at $3,473,430, compared to 301,309 units at $3,513,535 on Friday. August closed with an average of 480,039 units at $8,561,549.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments advanced $5 to an all-time high of $104 in an exchange of 57,785 shares, Caribbean Cement fell $1.49 to $99.01 with 1,271 stocks crossing the exchange, Eppley Caribbean Property Fund rose $1.99 to $42.99 in transferring 1,750 units. First Rock Capital lost 43 cents to end at $13.05, with 3,835 stock units crossing the market, Guardian Holdings shed $1 to end at $580 in trading 5,485 stocks, Jamaica Broilers rallied $1.55 to $30 with 3,198 units changing hands. Jamaica Producers popped 60 cents to $21.60 in switching ownership of 35,091 shares, Jamaica Stock Exchange shed 95 cents to $16.60 with an exchange of 1,520 stock units, JMMB Group slipped 45 cents to close at $38.50 with the swapping of 207,533 stocks. Kingston Properties fell $1 to $8.50 in switching ownership of 56,464 shares, Kingston Wharves lost 90 cents to close at $44.10 with 6,471 stocks changing hands, Mayberry Investments popped 50 cents to $6 in transferring 106,405 units. Mayberry Jamaican Equities gained 50 cents to $8.70 with the swapping of 650 shares, NCB Financial shed $1.50 to end at $127.50 after clearing the market with 12,877 units, Palace Amusement climbed $135.82 ending at $1,035.82 after exchanging 52 stocks. 
Portland JSX gained 98 cents to finish at $8 with the swapping of 1,000 stock units, Sagicor Real Estate Fund popped 50 cents to close at $8.50 after crossing the market with 233 units, Salada Foods picked up 25 cents to end at $6.25 in switching ownership of 14,969 stocks. Scotia Group lost 50 cents in closing at $38.50 with the swapping of 41,791 shares, Seprod spiked 39 cents to $63.50 with 39,397 stock units crossing the market and Supreme Ventures fell 90 cents to $17.70 in trading 86,640 stocks.
In the preference segment, Eppley 7.75% rallied 30 cents to a 52 weeks’ high of $20.80 in switching ownership of 7,200 stock units and in the corporate bond segment, Colassal 4.25% lost 47 cents in closing at $100.28 trading 50000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Elsewhere, in the Junior Market, Stationery and Office Supplies pulled back to $5.76 from $6.60 at the end of the prior week. Access Financial fell to $18.75 from $21.49 last week, General Accident fell from $5.54 last week to $5.15, Medical Disposables slipped from $4.94 to $4.46, Caribbean Assurance fell from $1.80 to $1.66 and Caribbean Cream moved up to $6.60, from $6.05 last week.
The top three Main Market stocks are Berger Paints, followed by Guardian Holdings and JMMB Group, with expected gains of 208 to 263 percent for the three, versus last weeks’ 212 to 257 percent.
The TOP 10 stocks trade at a PE of 6.5, with a 54 percent discount to that market’s PE. The overall Junior Market can gain 65 percent to March next year, based on an average PE of 20 and 40 percent based on an average PE of 17.
ICTOP10 is a selection of stocks that are more likely to be the great winners within fifteen months and not necessarily the best in the market. ICInsider.com ranks stocks to separate the big winners from the rest, allowing investors to focus on potentially huge gains, helping to keep out an emotional attachment to stocks that often result in costly mistakes.
At the close on Friday, the All Jamaican Composite Index popped 922.91 points to settle at 443,543.76, the Main Index gained 780.78 points to 403,871.30 and the JSE Financial Index popped 0.39 points to end at 98.83.
August closed with an average of 480,039 units at $8,561,549.
PanJam Investment shed $1.77 to close at $62.01 in an exchange of 52,360 stock units, Sagicor Group lost 52 cents to end at $53.50 in trading 60,107 shares, Seprod dipped 39 cents to $63.11 with 11,833 stocks crossing the market and Wisynco Group fell 35 cents to $15.65 in exchanging 93,661 units.
The All Jamaican Composite Index slipped 295.03 points to 442,620.85, the Main Index fell 101.04 points to 403,090.52 and the JSE Financial Index lost 0.06 points to end at 98.44.
Investor’s Choice bid-offer indicator shows six stocks ended with higher bids than their last selling prices and five with lower offers.
Mayberry Investments lost 20 cents to end at $5.50 in exchanging 301,484 units, Mayberry Jamaican Equities fell 55 cents to $8.20 in exchanging 794 units, NCB Financial Group rose $1.49 to $129.49 in trading 179,455 stocks. Palace Amusement rallied $8 to $910 with a transfer of 236 stock units, PanJam Investment popped $1.78 to end at $63.78 with 931,362 shares crossing the market, Scotia Group declined $1 to $39 after dropping to a 52 weeks’ low of $37 in 69,473 units changing hands and Wisynco Group rose 21 cents to $16 in an exchange of 65,458 stocks.
The All Jamaican Composite Index dropped 1,575.15 points to 442,915.88, the Main Index shed 1,499.07 points to 403,191.56 and the JSE Financial Index lost 0.14 points to end at 98.50.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and three with lower offers.
Scotia Group popped 45 cents to $40 with an exchange of 90,230 units, Seprod lost 35 cents to close at $63.65, with 291,051 stock units clearing the market, Supreme Ventures rose 85 cents in closing at $18.85 after switching ownership of 115,950 units and Sygnus Credit Investments gained 38 cents in ending at $15.88 and exchanging 38,335 stocks.
The All Jamaican Composite Index fell 1,769.43 points to settle at 444,491.03, the JSE Main Index declined 1,811.95 points to 404,690.63 and the JSE Financial Index shed 0.18 points to end at 98.64.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and one with a lower offer.
Palace Amusement popped $50 in closing at $1,050 in trading four shares, Proven Investments gained 27 cents to end at $32.37 after clearing the market with 15,512 stock units. Sagicor Real Estate Fund fell 50 cents in ending at $8 with an exchange of 14,870 stocks, Salada Foods lost 43 cents to $6.50 in switching ownership of 28,135 shares, Scotia Group declined 45 cents to close at $39.55 after exchanging 19,323 stock units. Seprod shed $2 after ending at $64 in trading 83,383 shares and Sygnus Credit Investments lost 39 cents in closing at $15.50, with 102,675 shares crossing the market.
The All Jamaican Composite Index shed 533.05 points to settle at 446,260.46, the Main Index declined 448.18 points to 406,502.58 and the JSE Financial Index lost 0.20 points to end at 98.82.
Trading averages 129,172 units at $1,172,727, compared to 77,870 shares at $972,833 on Friday and month to date, an average of 319,241 units at $3,702,393, compared to 334,040 units at $3,899,360 on Friday. August closed with an average of 480,039 units at $8,561,549.
PanJam Investment spiked 50 cents to close at $62.50 in switching ownership of 9,994 stock units, Seprod advanced $1.99 to end at $66 with 15,237 units clearing the market, Supreme Ventures dropped 20 cents to $17.80 in trading 4,260 units, Victoria Mutual Investments rose 27 cents in closing at $5.65 after trading 95,734 stocks.
Markets keep bouncing around with no clear direction and could be weight down by a number of factors, including rising interest rates as Bank of Jamaica starts its tightening of the financial market, Barita Investments APO that will drain or divert funds from secondary trading of other stocks and the absence of any other major news that could move stock prices meaningfully. Against this background, there was little movement in and out of the ICTOP10 listings this past week.
Lumber Depot moved back into the ICTOP10 with the price pulling back under $3 and replaced tTech that enjoyed a price bounce from $4.20 last week to $4.50 this past week.
The top three Main Market stocks are, Berger Paints followed by JMMB Group and Guardian Holdings, with expected gains of 212 to 257 percent for the three, versus last weeks’ 202 to 290 percent.
The TOP 10 trades at a PE of 6.9, with a 42 percent discount to that market’s PE and the potential to rise 67 percent to March next year, based on an average PE of 20.
ICInsider.com ranks stocks to filter out the bigger winners from the rest, allowing investors to focus on potentially huge winners, helping to keep out emotional attachments to stocks that often result in costly mistakes being made.
The All Jamaican Composite Index mustered a 91.03 points rise to 446,793.51, the Main Index picked up 309.70 points to end at 406,950.76 and the JSE Financial Index popped 0.20 points to 99.02.
Trading averages 77,870 units at $972,833, compared to 196,056 shares at $5,676,218 on Thursday and month to date, an average of 334,040 units at $3,899,360, compared to 355,670 units at $4,146,467 on Thursday. August closed with an average of 480,039 units at $8,561,549.
Proven Investments gained 40 cents to close at $32 in an exchange of 3,050 units, Seprod shed $1.99 to close at $64.01, with 2,316 shares changing hands, Stanley Motta spiked 55 cents to $5.60 after 1,355 stock crossed the market, Supreme Ventures rose 49 cents to $18, with 12,588 shares clearing the market and Wisynco Group lost 33 cents in ending at $15.65 and trading 61,336 stocks.
The All Jamaican Composite Index dipped 77.60 points to settle at 446,702.48, the Main Index fell 447.04 points to 406,641.06 and the JSE Financial Index lost 0.09 points to end at 98.82.
Trading averages 196,056 units at $5,676,218, compared to 96,394 shares at $1,072,847 on Wednesday and month to date, an average of 355,670 units at $4,146,467, compared to 371,981 units at $3,990,142 on Wednesday. August closed with an average of 480,039 units at $8,561,549.
PanJam Investment popped $3 to $65 780 after stock units crossed the market, Portland JSX dropped 97 cents in closing at $7.03 after 1,754 shares changed hands, Proven Investments increased 54 cents to close at $31.60 after exchanging 30,082 stocks. Sagicor Group climbed $1 to close at $54 while trading 285,469 units, Scotia Group gained $1.30 to close at $39.90 after exchanging 3,566 stocks, Seprod spiked $2 to $66 in trading 9,079 units. Supreme Ventures lost 49 cents to end at $17.51, with 9,378 shares changing hands, Sygnus Credit Investments rallied 52 cents to end at $15.89 while exchanging 2,845 stock units and Wisynco Group popped 23 cents to $15.98 with the swapping of 363,061 shares.