JSE Main Market in resistance territory

May 17, 2021 by

Market activity pushed the All Jamaican Composite Index up 4,686 points in the early morning session to just over 456,400 points and close to resistance level on Monday and the market managed to hold on 3,056.45 points at the close to end at 454,770.11, on the Main Market of Jamaica Stock Exchange, at the same time, the Main Index rose 2,576.48 points to 430,591.75, and the JSE Financial Index gained 1.14 points to settle at 108.27.
At the close, 51 securities traded, up from 49 on Friday, with 20 rising, 23 declining and eight ending unchanged. The PE Ratio averages 16.2 based on ICInsider.com forecast of 2021-22 earnings.
The volume and values of shares traded, fell 46 percent and 48 percent respectively compared to Friday levels, as 17,166,156 shares changed hands for $158,866,078 versus 31,695,926 units at $306,013,533 on Friday. Wigton Windfarm led trading with 40.9 percent of total volume, with 7 million shares followed by JMMB Group 7.5% took 14.1 percent of the market, with 2.43 million units, Transjamaican Highway accounted for 10.5 percent with 1.80 million units and Pan Jam Investment with 7.4 percent after 1.14 million units changed hands.
Trading averaged 336,591 units at $3,115,021, compared to 646,856 shares at $6,245,174 on Friday. Trading month to date averages 325,653 units at $3,484,171, in contrast to 324,542 units at $3,521,674 on Friday. April averaged 234,200 units at $1,772,561.
Investor’s Choice bid-offer indicator reading has 12 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments advanced $3 to $86, trading 29,830 units, Caribbean Cement climbed $3.98 to $85 with 12,710 stocks changing hands, Eppley Caribbean Property Fund declined $3.20 to end at $40.80, with 10,011 shares clearing the market. First Rock Capital shed 50 cents to end at $16 with an exchange of 15,785 stock units, Jamaica Broilers closed 50 cents lower at $34 with 99,562 units crossing the market, Kingston Wharves declined $3 to $45 in transferring 8,444 shares, NCB Financial Group lost 30 cents to end at $138.20 in exchanging 102,400 stocks, 138 Student Living shed 79 cents to close at $4.51 with 963 stock units crossing the exchange, Palace Amusement climbed $30 to $940 in switching ownership of 81 units, PanJam Investment rose $2.50 to close at $69 with 1,138,183 shares changing hands. Portland JSX skidded 90 cents to $9.50 trading 8,289 stock units, Proven Investments ended 90 cents lower at $37.05 in an exchange of 20,235 shares, Pulse Investments lost 30 cents in closing at $4.20 with the swapping of 787,692 shares. Sagicor Group advanced $3.40 to $53.95, with 158,237 units crossing the market, Sagicor Real Estate Fund shed 75 cents to end at $7.55 in an exchange of 10,397 stocks. Salada Foods slipped 60 cents to $7.06 with a transfer of 47,709 shares, Scotia Group gained 30 cents to end at $41.30 in exchanging 128,645 stocks. Seprod fell 37 cents to close at $77.57 in switching ownership of 18,230 units, Sterling Investments rose 50 cents in closing at $3.50 with 255,486 stock units changing hands. Supreme Ventures gained 31 cents to settle at $19.81 in switching ownership of 37,888 units, Sygnus Credit Investments closed 75 cents higher at $15.50 in the swapping of 624,203 stock units and Victoria Mutual Investments rose 69 cents to $6.99 after an exchange of 227,405 units.
In the preference segment, 138 Student Living Preference share advanced 81 cents in closing at $6.24 after exchanging 46 shares and Eppley 8.25% gained 85 cents to end at $7 in transferring 1,500 stocks.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Profit gains push Berger & SOS out of ICTOP10

May 15, 2021 by
Stationery & Office Supplies hit a record high on Friday.

Stationery & Office Supplies – Montego Bay office.

Investors got a serious dose of a new set of company results and they liked a number of them, driving up prices of some up, following results that surprised positively. Many of the surprising ones matched the ICInsider.com forecast. Stationery & Office Supplies that was in the ICTOP10 up to last week reported earnings in line with ICInsider.com projections of $1 and investors pushed the price to a 52 weeks’ high of $9.50, with a gain of 109 percent for the year so far, with more gains ahead.
tTech is another company reporting earnings in line with the ICInsider.com forecast, with the stock jumping to $5.91 to be up 41 percent for the year. Berger Paints another TOP 10 stock up to last week, seems well on the way to earn $1.50, ICInsider.com forecasted, the price closed the week at $15, pushing it out of the TOP10. There are only 4,852 units on offer up to $17 thereafter, just over 154,000 between $18.99 and $19.86, Grace Kennedy reported a 26 percent rise in profit for the quarter, a continuation of good growth it enjoyed in 2020, but the market is yet to reward it with a price rise.
Access Financial and Key Insurance have moved into the TOP10 to fill the space left by the two stocks that fell out at the end of the week.
When ICInsider.com embarked on the 2021 profit forecast, it was a most difficult time due to the turbulence in the economy and businesses of many listed companies. Nevertheless, we boldly made our forecast and the first fruits are now showing and investors like them in driving up nine of 15 Junior Market stocks selected in January, bettering the gains for the year of 26 percent. Two stocks more than doubled and one is up 96 percent after more than doubling in trading for the year to date, earlier this week, before some profit taking set in. One stock rose 64 percent, one gained 43 percent, two 35 percent and two with 29 percent gain. Added to this is Future Energy Sources that was a part of the TOP10 listing starting at the end of February and has since gained 35 percent.
The ICTOP15 stocks in continuing an outstanding performance saw, Stationery & Office Supplies jumping 109 percent for the year to date, Lumber Depot 104 percent, Jamaican Teas 96 percent, Main Event 64 percent, Lasco Financial rose 43 percent, Caribbean Cream and Caribbean Producers up 35 percent, Lasco Distributors and MailPac a rise of 29 percent each.
The JSE Main Market is only up 4 percent year to date, but ICTOP15 stock selection saw Carreras and Grace Kennedy rising 37 percent, QWI Investments and Caribbean Cement up 29 percent, Seprod up 20 percent, Jamaica Producers 19 percent and Jamaica Broilers up 15 percent.
The bullish tone of both markets continues, but the Junior Market had hit the top line of an upward sloping channel that could act as resistance and is worth watching. The Main Market is a few thousand points away from its channel top, but those resistance points should be only temporary barriers if they, in fact become that.
The top three stocks in the Junior Market are headed by Elite Diagnostic followed by Medical Disposables and Jetcon Corporation, with the potential to gain between 245 to 283 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by Jamaica Broilers and PanJam Investment, with expected gains of 165 to 385 percent.
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 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.3 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17. This represents another 39 percent rise in the market that would equate to a rise of 60 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.4 at just 52 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16.5, some distance from the 19 the market ended March, suggesting a 15 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.8 or 47 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 220 percent and 168 percent for the JSE Main Market, based on 2021-22 earnings. 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.

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Main market retreats from robust early gains

May 14, 2021 by

Stocks trading climbed sharply on Friday with an exchange of 118 percent more shares valued 268 percent more than in Thursday trading on the Jamaica Stock Exchange Main Market. The All Jamaican Composite Index just managed to squeeze out a gain of 87.75 points to close at 451,713.66 after it traded up close to 6,000 points to a high of 457,408.33 within an hour of the market’s opening.  

JSE All Jamaica Composite Index heading for the top of the upward sloping channel top at 460,000 points and could face resistance there.

The JSE Main Index rose 581.22 points to settle at 428,015.27 and The JSE Financial Index gained 0.24 points to end at 107.13.
Trading ended with 49 securities compared to 47 on Thursday and ended with prices of 21 stocks rising, 17 declining and 11 remaining unchanged. The PE Ratio averages 16.5 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 31,695,926 shares trading for $306,013,533 compared to 14,522,547 units at $83,441,774 on Thursday. Wigton Windfarm led trading with 41.6 percent of total volume for 13.18 million shares, followed by Supreme Ventures with 31.7 percent for 10.04 million units and JMMB Group 7.50% with 5.4 percent for 1.70 million units changing hands.
Trading averaged 646,856 units at $6,245,174, compared to an average of 308,990 shares at $1,775,357 on Thursday. Trading month to date averages 324,542 units at $3,521,674, in contrast to 289,678 units at $3,227,079 on Thursday. Trading in April averaged 234,200 units at $1,772,561.
Investor’s Choice bid-offer indicator shows eleven stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments dropped $3.05 to $83 with 33,408 shares changing hands. Berger Paints advanced $1.35 to close at a 52 weeks’ high of $15 after exchanging 30,727 stock units, Caribbean Cement slid $4.98 to $81.02 with 96,636 shares crossing the exchange. Eppley Caribbean Property Fund shed 98 cents to close at $44 trading 11 units, First Rock Capital fell 40 cents to $16.50 in exchanging 50,337 shares, Grace Kennedy slipped 19 cents to close at $88.66 in switching ownership of 161,912 stocks. Jamaica Broilers ended $1 lower at $34.50 in exchanging 30,864 units, Jamaica Stock Exchange gained 24 cents to close at $17.99 with 11,600 stock units crossing the market, JMMB Group rose $1.05 to $33.05 in trading 33,966 units, Kingston Wharves advanced $1 to end at $48 in an exchange of 3,152 stocks, NCB Financial declined $1.50 to $138.50 after transferring 39,781 units, 138 Student Living gained 30 cents to end at $5.30 in exchanging 2,129 stocks. PanJam Investment rose $1 to close at $66.50 in trading 594,688 units, Proven Investments rose 94 cents to $37.95 in trading 26,800 shares, Sagicor Group closed 54 cents higher at $50.55 in an exchange of 35,406 stocks. Salada Foods rose 86 cents to $7.66 in switching ownership of 116,542 stock units, Scotia Group shed 50 cents to end at $41 in trading 20,188 units, Supreme Ventures picked up 50 cents to close at $19.50 with the swapping of 10,037,859 shares, Victoria Mutual Investments declined 78 cents to $6.30 in trading 154,338 stock units and Wisynco Group gained 30 cents to close at $15.90, with 240,532 shares crossing the exchange.
In the preference segment, Eppley 8.25% shed 74 cents to close at $6.15 with 1,800 stock units changing hands, JMMB Group 7.25% rose 19 cents to $1.46 in transferring 3,019 stocks and JMMB Group 7.15% – 2028 lost 18 cents to finish at $2.82 trading 20,000 shares.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main market rises to 14 months high

May 13, 2021 by

Rising stocks pushed the market indices higher on Thursday to end with the All Jamaican Composite Index at the highest level since the middle of March last year as the market continues to move higher in recovering the big losses in 2020.  At the close, the volume traded rose 18 percent, but the value dropped 46 percent on Wednesday levels on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index advanced 1,110.77 points to 451,625.91, the Main Index rose 732.14 points to 427,434.05, and the JSE Financial Index inched 0.15 points up to settle at 106.89.
Trading ended with 47 securities compared to 53 on Wednesday and closed with prices of 17 stocks rising, 23 declining and seven remaining unchanged.
The PE Ratio averages 16.4 based on ICInsider.com forecast of 2021-22 earnings.

The market closed with 14,522,547 shares trading for $83,441,774 compared to 12,295,253 units at $154,483,246 on Wednesday. Sagicor Select Financial Fund led trading with 34.2 percent of total volume for an exchange of 4.97 million shares, followed by Wigton Windfarm with 17.9 percent for 2.60 million units, Transjamaican Highway with 9.1 percent for 1.33 million units and Mayberry Investments with 8.3 percent for 1.23 million units changing hands.

Trading averaged 308,990 units at $1,775,357, compared to 231,986 shares at $2,914,778 on Wednesday. Trading month to date averages 289,678 units at $3,227,079, in contrast to 287,442 units at $3,395,135 on Wednesday. April averaged 234,200 units at $1,772,561.
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, Caribbean Cement shed $1 in closing at $86 after 46,436 shares traded, Eppley ended $1 lower at $34 in an exchange of 17,549 units, Grace Kennedy gained 35 cents to close at $88.85 in a transfer of 93,344 stocks. Jamaica Broilers slid 50 cents to $35.50 after exchanging 8,606 units, Jamaica Producers declined $2.35 to close at $25 with the swapping of 706,751 shares, Key Insurance lost 49 cents to settle at $5.51 with an exchange of 259,038 stocks, Kingston Wharves advanced $2 to $47 with the swapping of 5,246 units, Margaritaville gained 50 cents to end at $15.50 in trading 211 shares, Mayberry Jamaican Equities ended 45 cents higher at $8 in exchanging 50,000 stocks. MPC Caribbean Clean Energy dropped $3 to close at a 52 weeks’ low of $124 with 66 stock units changing hands, NCB Financial rose $1.22 to finish at $140 in transferring 41,935 shares, Palace Amusement advanced $2 to $910 after clearing the market of 44 units. 138 Student Living fell 30 cents to close at $5 with 3,999 stock units crossing the market, Pan Jam Investment rose $2 to close at $65.50 in exchanging 11,859 stocks, Proven Investments fell 89 cents to $37.01 in the swapping of 17,979 stock units, Pulse Investments gained 30 cents to $4.60 in switching ownership of 345,178 shares. Sagicor Group declined $1.99 to $50.01 in an exchange of 200,381 units, Salada Foods lost 20 cents to finish at $6.80 with a transfer of 117,419 stocks, Seprod gained 88 cents to close at $77.88 in trading 12,866 shares, Supreme Ventures gained 49 cents to settle at $19 with the swapping of 48,842 stock units and Wisynco Group lost 40 cents in ending at $15.60 after trading 197,460 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

AJI past 450,000, first since March 2020

May 12, 2021 by

The All Jamaican Composite Index closed above the 450,000 points level for the first time since March 13 last year when it advanced 780.41 points to close at 450,515.14, on Wednesday on the Jamaica Stock Exchange, with an exchange of 119 percent more shares valued 339 percent higher than in trading on Tuesday.
The JSE Main Index gained 314.36 points to 426,701.91 and the JSE Financial Index lost 0.05 points to settle at 106.74.
A total of 53 securities traded compared to 54 on Tuesday, with 21 stocks rising, 23 declining and nine remaining unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 16.4.
The market closed with 12,295,253 shares trading for $154,483,246 compared to 5,625,284 units at $35,183,198 on Tuesday. Sagicor Select Manufacturing & Distribution Fund led trading with 25.1 percent of total volume after an exchange of 3.09 million shares followed by Sagicor Group 18.5 percent with 2.28 million units, Transjamaican Highway with 15.5 percent, with 1.9 million units and Wigton Windfarm with 14 percent after 1.73 million units changed hands.
Trading averaged 231,986 units at $2,914,778, compared to an average of 104,172 shares at $651,541 on Tuesday. Trading month to date averages 287,442 units at $3,395,135, in contrast to 295,768 units at $3,467,257 on Tuesday. April averaged 234,200 units at $1,772,561.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement declined $2 to $87 in trading 20,087 shares, Carreras gained 23 cents to close at $9.82 with 109,080 stock units changing hands, Eppley ended 26 cents higher at $35 in clearing the market of 1,491 shares, Eppley Caribbean Property Fund climbed $4.99 to close at $45 with the swapping of 2,000 units, First Rock Capital gained 33 cents to finish at $16.71 in transferring 17,074 stocks. Grace Kennedy shed 50 cents to close at $88.50 with the swapping of 26,786 stock units, Jamaica Broilers climbed $3 to a 52 weeks’ high of $36 in exchanging 37,352 stocks. Jamaica Producers advanced $1.15 to $27.35 with the transfer of 23,717 shares, Jamaica Stock Exchange fell 25 cents to $17.75 after exchanging 14,143 units, JMMB Group fell $1.15 to $31.90 in switching ownership of 66,428 stock units. Kingston Properties lost 25 cents to close at $8.15 after a transfer of 3,536 units, Kingston Wharves rose 50 cents to $45 in swapping 5,912 stocks, Margaritaville lost 50 cents to end at $15 with 8,035 stock units changing hands. Mayberry Investments shed 40 cents in closing at $5.30 in switching ownership of 131,843 shares, Mayberry Jamaican Equities dipped 44 cents to $7.55 after exchanging 10,450 stocks, NCB Financial declined $2.72 to $138.78 trading 62,047 stock units. Palace Amusement rose $1 to $908 in an exchange of 53 units, PanJam Investment fell $1.40 to $63.50 in trading 38,150 stocks, Portland JSX rose 75 cents to a 52 weeks’ high of $10.50 with the transfer of 1,135 shares. Pulse Investments lost 40 cents in closing at $4.30 in an exchange of 411,205 units, Sagicor Group climbed $2.51 to $52 with 2,279,348 shares crossing the market, Salada Foods dropped 20 cents to $7 in transferring 206,193 stock units, Seprod slid 88 cents to end at $77 in switching ownership of 4,451 shares, Supreme Ventures fell $1.44 to $18.51 with 73,026 units changing hands and Wisynco Group rose 50 cents to $16 after exchanging 45,650 units.
In the preference segment, Eppley 8.75% preference share rose $1 to $7.50, in trading 17 stock units, Eppley 7.5% shed 60 cents to close at $11 with 8 units clearing the market, JMMB Group 7.15% – 2028 gained 20 cents to settle at $3 with the swapping of 85,162 units and JMMB Group 7.35% – 2028 finished 24 cents higher at $3.25 in exchanging 2,000 stocks.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Low trading activity hits JSE Main Market

May 11, 2021 by

In stock market activity on Tuesday, investors traded 44 percent fewer shares valued 49 percent less than on Monday with just 5,625,284 shares trading for a mere $35,183,198 compared to 10,081,649 units at $68,340,342 on Monday on the Jamaica Stock Exchange Main Market.
Trading activity led to a nice rise in the All Jamaican Composite Index that climbed 2,013.60 points to settle at 449,734.73. The Main Index gained 1,725.03 points to 426,387.55 and The JSE Financial Index inched 0.10 points higher to 106.79.
At the close, 54 securities traded compared to 51 on Monday, with prices of 23 rising, 19 declining and 12 remaining unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 16.3.
The market closed Sagicor Select Financial Fund led trading with 28.3 percent of total volume for an exchange of 1.59 million shares, followed by Wigton Windfarm with 11.5 percent for 646,723 units and Transjamaican Highway with 11.3 percent for 636,420 units.
Trading averaged 104,172 units at $651,541, compared to 197,679 shares at $1,340,007 on Monday. trading month to date averages 295,768 units at $3,467,257, in contrast to 330,371 units at $3,975,781 on Monday. April averaged 234,200 units at $1,772,561.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Berger Paints rose 81 cents to $13.52 in trading 187 shares, Caribbean Cement shed 98 cents to $89, with 3,663 shares changing hands. Carreras fell 25 cents to $9.59 in trading 86,427 stock units, Eppley closed 54 cents higher at $34.74 with 36,375 stocks changing hands. First Rock Capital gained 27 cents to settle at $16.38 in switching ownership of 4,250 units, Key Insurance finished 44 cents lower at $6.05 with the swapping of 207,507 shares, Kingston Wharves rose 69 cents to $44.50 in exchanging 3,490 stocks. Margaritaville advanced $1 to $15.50 after the transfer of 3,281 units, Mayberry Investments lost 25 cents to end at $5.70, with 1,219 stocks clearing the market, MPC Caribbean Clean Energy closed $2 higher at $127 with investors switching ownership of 117 stock units. NCB Financial Group advanced $1.50 to $141.50 with 10,070 units crossing the market, Palace Amusement climbed $51 to close at $907 after exchanging 6 stock units, PanJam Investment rose 90 cents to end at $64.90 in an exchange of 5,450 units. Portland JSX jumped $2.64 to close at $9.75 after clearing the market of 100 stocks, Salada Foods declined $1.80 at $7.20 in the transferring of 170,698 stock units, Scotia Group rose 99 cents to $41.50, trading 35,174 stocks, Seprod climbed $6.88 to $77.88 after 12,090 stock units switched owners. Stanley Motta shed 30 cents to close at $5.85 with 1,392 units changing hands, Sterling Investments gained 23 cents to end at $2.98 in switching ownership of 20,900 stocks, Supreme Ventures rose $2.64 to a 52 weeks’ high of $19.95 in exchanging 113,998 shares. Sygnus Credit Investments lost 24 cents in ending at $14.65 with the swapping of 15,776 stock units and Wisynco Group lost 50 cents at $15.50 in an exchange of 107,145 stock units.
In the preference segment, Eppley 7.5% preference shares rose 85 cents to close at a 52 weeks’ high of $11.60 in exchange of 210 units, JMMB Group 7.15% – 2028, fell 20 cents to $2.80 in transferring 19,000 shares and Productive Business Solutions 9.75% preference share gained 49 cents to end at $110 with 21 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Main market stocks start the week down

May 10, 2021 by

Stocks raced 2.949 points shortly after opening, with All Jamaican Composite Index hitting 452,005.57 on Monday, but some amount of selling, later on, pushed the market down for the day, with the declining stocks outnumbering those rising, after 28 percent less funds went after stocks than on Friday on the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index fell 1,335.19 points to 447,721.13, the Main Index dropped 4,869.78 points to 424,662.52 and the JSE Financial Index shed 1.85 points to settle at 106.69.
Trading ended with 51 securities compared to 47 on Friday and closed with 14 stocks rising, 23 declining and 14 remaining unchanged. The PE Ratio, based on ICInsider.com forecast of 2021-22 earnings, averages 16.2.
The market closed with 10,081,649 shares trading for $68,340,342 compared to 9,057,061 units at $95,375,441 on Friday. Sagicor Select Financial Fund was the lead trade accounting for 26.3 percent of total volume, with 2.65 million shares, followed by Wigton Windfarm with 17.7 percent for 1.79 million units, Transjamaican Highway carved out 17.5 percent, with 1.76 million units and QWI Investments 10 percent, with 1.05 million units changing hands.
Trading averaged 197,679 units at $1,340,007, compared to 192,703 shares at $2,029,265 on Friday. Month to date trading averages 330,371 units at $3,975,781, in contrast to 357,658 units at $4,517,815 on Friday. April averaged 234,200 units at $1,772,561.
Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments shed 60 cents to $86 after an exchange of 26,212 shares, Berger Paints slipped 79 cents to close at $12.71 in switching ownership of 518 units, Caribbean Cement lost 22 cents to end at $89.98 with a transfer of 15,291 shares. Eppley fell 30 cents to $34.20 with 24,628 stocks changing hands, Grace Kennedy rose 55 cents to close at $89, after trading 105,257 stock units, Jamaica Broilers advanced $2.98 to $33 after clearing the market with 332,852 shares, Jamaica Producers fell $1.50 to $26 in the swapping 32,469 stock units. Mayberry Investments gained 44 cents to close at $5.95 while trading 40,044 shares, MPC Caribbean Clean Energy declined $3 to end at 52 weeks’ low of $125 in switching ownership of 839 units, Palace Amusement dropped $52 to $856 in exchanging 93 stock units. Pan Jam Investment shed 50 cents and ended at $64 with 12,386 shares changing hands, Proven Investments lost 58 cents in closing at $38.20 in transferring 36,735 units, Pulse Investments rose 24 cents to close at $4.65 with 341,070 shares crossing the market, Sagicor Select Manufacturing & Distribution Fund advanced 8 cents to close at a 52 weeks’ high of $1 while exchanging 221,761 units. Salada Foods dipped 30 cents to close at $9, trading 144,058 stock units, Scotia Group fell $1.29 to $40.51 in exchanging 61,843 shares, Seprod declined $4 to close at $71 after 17,111 units crossed the exchange. Supreme Ventures shed 49 cents to settle at $17.31 after an exchange of 136,667 stock units, Sygnus Credit Investments gained 29 cents to end at $14.89 with 34,847 units changing hands.
In the preference segment, Eppley 8.75% preference share shed 99 cents at $6.51 with the swapping of 585 stocks and Eppley 7.5% preference shares advanced $1.40 to a 52 weeks’ high of $10.75 in an exchange of 50 units.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Major shakeup in Junior Market ICTOP10

May 8, 2021 by

The Junior Market had some major shakeup in some of the listings this past week as investors keep their eyes solidly on opportunities in this market, having slowly eating away at the above-average gains available in the market and driving prices of many stocks up and pushing the market back to early January 2020 level.
During the past week, Main Event surged nearly 33 percent from $3.50 to $4.65, pushing it from second spot last week to 10th this week. Medical Disposables dropped from the third position with a gain of 19 percent to $5.28, Stationery & Office rose from $5.71 to $6.45 and taking it from 5th to 7th position, while Lasco Financial moved up to 6th position from 9th last week, with no price change, Caribbean Producers moved up from 8th last week to 3rd this week and Caribbean Cream shifted from 7th to 2nd this week.
Stationery & Office, General Accident, Medical Disposables and Main Event that are at the edge on the Junior Market TOP10 could well drop out at any time as they are all bunched together with potential gains of 188 to 210 percent. In the Main Market, VM Investments, with potential gains of 128 percent and Berger Paints with 122 percent, could drop out soon. Results of companies to come shortly could result in changes in the list, depending on how investors respond to each.
The bullish tone of the two markets continues, with technical indicators and fundamentals of many companies keep on powering prices higher with many investors looking to the future with the recovery of the economy in mind and the impact that it will have on stocks.
Investors should expect a host of company results to hit the market next week as the mid-month date approaches. Watch these stocks over the next few weeks, Grace Kennedy, Jamaica Producers, PanJam Investment, Sagior Group, MailPac, Access Financial, Lasco Financial, Lasco Distributors, Caribbean Cream, ISP Financial.
The top three stocks in the Junior Market are headed by Elite Diagnostic, followed by Caribbean Cream and Caribbean Producers, with the potential to gain between 242 to 282 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by PanJam Investment and Jamaica Broilers, with expected gains of 166 to 413 percent.
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 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.2 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17. This represents another 40 percent rise in the market that would equate to a rise of 60 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.1 at just 50 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16.5, some distance from the 19 the market ended March, suggesting a 15 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.7 or 47 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 229 percent and 173 percent for the JSE Main Market, based on 2021-22 earnings. 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.

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Guardian climbs to a new high of $1,135

May 7, 2021 by

Guardian Holdings made another big impression on the JSE Main Index for the second day running, with the index spiking more than 6,700 points at the close compared to less than 2,000 points for the  All Jamaican Composite Index at the close on Friday of the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index rose 1,717.09 points to 449,056.32, the Main Index advanced 6,789.24 points to 429,532.30 and the JSE Financial Index gained 2.78 points to settle at 108.54.
Trading ended with 47 securities compared to 51 on Thursday and closed with prices of 20 stocks rising, 18 declining and nine remaining unchanged. The PE Ratio, based on ICInsider.com forecast of 2021-22 earnings, averages 16.2.
Trading accounted for 9,057,061 shares for $95,375,441 compared to 14,011,500 units at $108,072,314 on Thursday. Wigton Windfarm led trading with 23.6 percent of total volume for 2.14 million shares, followed by Sagicor Select Financial Fund with 12.6 percent for 1.14 million units and Radio Jamaica 10.6 percent with 959,460 units.
Trading averaged 192,703 units at $2,029,265, compared to 274,735 shares at $2,119,065 on Thursday. Month to date trading averages 357,658 units at $4,517,815, in contrast to 396,230 units at $5,099,715 on Thursday. April averaged 234,200 units at $1,772,561.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell $1.40 to $86.60 in trading 291,042 units, Berger Paints gained 30 cents to end at $13.50 with 5,053 stocks clearing the market. Caribbean Cement added 20 cents to close at $90.20 switching ownership of 45,139 shares, Carreras gained 25 cents to end at $9.84 in switching ownership of 334,907 stocks, Eppley Caribbean Property Fund declined $4.79 to close at $40.01 in exchanging 3,277 units, First Rock Capital shed $1.04 to end at $15.96 in switching ownership of 210,759 stocks, Guardian Holdings climbed $27 to end at $900 with an exchange of 3,768 stock units after the price shot up to a high of $1,134.90, Jamaica Broilers declined $2.98 in closing at $30.02 in transferring 38,063 shares, Jamaica Producers shed $3.50 to finish at $27.50 with the swapping of 114,576 units. Key Insurance gained 68 cents ending at $6.50 with 132,886 shares changing hands. Kingston Wharves gained 30 cents to settle at $43.90 after exchanging 31,373 stocks, NCB Financial Group rose $1 in closing at $140 after clearing the market with 40,955 shares, 138 Student Living advanced $1.09 to close at $5.29 with 50 stocks clearing the market, Palace Amusement climbed $8 to $908 in trading 59 stock units, PanJam Investment closed $1 higher at $64.50 after clearing the market with 11,459 shares. Proven Investments rose $1.01 to $38.78 with the swapping of 112,652 units, Sagicor Real Estate Fund slipped 25 cents to close at $7.95 with the transfer of 3,366 stocks, Salada Foods lost 40 cents in closing at $9.30 in trading 145,990 units, Seprod dropped $3 to finish at $75 with 105,935 shares changing hands, Supreme Ventures rose 56 cents to end at $17.80 in switching ownership of 98,891 stock units and Sygnus Credit Investments lost 39 cents ending at $14.60 in trading 39,721 units.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Guardian blasts JSE Market Index higher

May 6, 2021 by

The trading of Guardian Holdings shares on Jamaica Stock Exchange Main Market on Thursday saw the price surging $290.52 ending at $873 and blasting the JSE Main Index up 16,869.80 points to 422,743.06, but the better measure of the local market’s performance was the much more moderate rise of 1,416.87 points to 447,339.23 on the All Jamaican Composite Index at the same time the JSE Financial Index rose 6.31 points to 105.76.
Trading ended with 51 securities compared to 50 on Wednesday and closed with prices of 21 stocks rising, 16 declining and 14 remaining unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 16.5.
The market closed with 14,011,500 shares trading for $108,072,314 compared to 14,404,463 units at $119,739,515 on Wednesday. Sagicor Select Financial Fund led trading with 32.9 percent for an exchange of 4.61 million shares followed by Wigton Windfarm with 29.6 percent for 4.15 million units and QWI Investments 7.8 percent, with 1.1 million units.
Trading averaged 274,735 units at $2,119,065, compared to an average of 288,089 shares at $2,394,790 on Wednesday. Month to date trading averages 396,230 units at $5,099,715, in contrast to 437,538 units at $6,113,136 on Wednesday. April averaged 234,200 units at $1,772,561.

Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and one with lower offers.
At the close, Barita Investments advanced $3.04 to $88 in trading 23,498 units. Berger Paints rose 50 cents to $13.20 with 2,264 stocks clearing the market, Caribbean Cement finished $2 higher at $90 after exchanging 13,677 stock units, Eppley lost 23 cents to end at $34.50 with 412 stocks changing hands, Eppley Caribbean Property Fund climbed $4.04 to $44.80, with 9,004 units clearing the market, First Rock Capital fell 47 cents to $17 with the transfer of 26,006 shares. Guardian Holdings jumped $290.52 to end at a 52 weeks’ high of $873 while trading 2,899 shares, Jamaica Broilers advanced $2.20 to $33 in the swapping of 599,456 stock units, Jamaica Producers closed $3.50 higher to a 52 weeks’ high of at $31 with 156,379 stocks crossing the market, Jamaica Stock Exchange rose 63 cents to $17.80 with 2,000 stock units changing hands. JMMB Group advanced $1.10 ending at $33.10 in switching ownership of 567,724 shares, Margaritaville declined $2.38 to close at a 52 weeks’ low of $14.50 after exchanging 4,900 units, Mayberry Investments fell 60 cents to $5.60 with the transfer of 5,000 stocks. NCB Financial gained 50 cents to settle at $139 in trading 68,878 shares. 138 Student Living shed 80 cents to end at $4.20 in exchanging 2,697 shares, PanJam Investment rose $1.25 to $63.50 in exchanging 22,174 units, Proven Investments gained 75 cents to finish at $37.77 trading 7,198 stock units, Sagicor Group rose 99 cents to end at $49.49 after crossing the market with 50,855 units. Salada Foods lost 28 cents in closing at $9.70 in transferring 261,746 stock units, Stanley Motta gained 20 cents to close at $6.20 with an exchange of 3,100 shares. Supreme Ventures lost 26 cents to end at $17.24 after crossing the market with 69,748 stock units and Wisynco Group gained 52 cents to close at $15.90 with the swapping of 134,365 stock units.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,