The Junior Market is expected to blast pass the 2,800 the index mark, this coming week, following positive results just released by Lasco Manufacturing, Lasco Distributors and Jamaican Teas, to help the market to continue the 2021 rise after reaching a new eleven-month high, on Friday.
The market index closed just under 2,800 points, on Friday with a 5.8 percent gain for the year to date.
The market should continue to benefit from strong interest in Caribbean Flavours, Mailpac that traded at a record high on Friday at $4.43 before closing at $3.99 and from Lumber Depot.
Lasco Manufacturing and Honey Bun keep changing places in IC TOP10 best performing Junior Market stocks. At the close of the previous week, Lasco Manufacturing replaced Honey Bun, but this past week, the roles are reversed with both companies seeing a reversal of fortune in prices.
Lasco Manufacturing closed at $4.32 up from $3.90 last week, while Honey Bun price fell from $6 to $5.88. In addition, Lasco earnings per share were adjusted down to 35 cents from 37 cents, with the company reporting nine months results showing revenues rising 6 percent but being up 3.5 percent for the December quarter and earnings per share moving to 25 cents from 19 cents in 2019.
Lasco Distributors earnings were also adjusted down, with the release of the nine months results showing earnings per share of 21 cents and 7 cents for the December quarter, putting the full-year numbers at 30 cents per share.
The Main Market TOP10 stocks continue with the same stocks as the week before, but Grace Kennedy price continues upward as interest in the stock remains strong.
The Junior Market is up 5.8 percent for 2021 and is currently powered by a bullish golden cross, setting to take the market beyond 3,000 points and likely beyond 4,000. The release of company results in the next week will play a big role in the next few weeks that will add fuel to the current rally. In this regard, based on 2020 release of results, interim financials are expected this week, from Access Financial, Barita Investments, General Accident, Iron Rock Insurance, Lasco Financial, Fontana, Elite Diagnostics, Honey Bun, JMMB Group and RJR.
The current TOP 10 report is based on earnings for 2020/21 as there are substantial gains ahead, for many stocks in the listings.
The top three Junior Market stocks with the potential to gain between 208 and 373 percent are Caribbean Producers followed by Elite Diagnostic and Lasco Financial. With expected gains of 132 to 324 percent, the top three Main Market stocks are, Berger Paints followed by Scotia Group and Sygnus Credit Investments.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 18.8 and the Junior Market 15, based on ICInsider.com’s projected 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 8.3 at just 55 percent of the market average. 
Main Market TOP 10 stocks trade at a PE of 9.1 or 48 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 169 percent and 133 percent for the JSE Main Market, based on 2020-21 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain 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.
At the close, the All Jamaican Composite Index rose 1,230.66 points to 428,244.36and the Main Index gained 1,046.02 points to 390,476.71, with a 1.3 percent decline for the year to date. The JSE Financial Index added 0.75 points to settle at 99.99.
Trading for the day averaged 198,902 units at $2,111,858, compared to 282,397 shares at $1,403,688 on Thursday. The month to date averaged 396,747 units at $2,501,656, in contrast to 445,935 units at $2,598,567 on the prior trading day. Trading in January closed with an average of 311,275 units at $1,432,133.
Salada Foods advanced by $3.90 in closing at $49.90, with 28,895 units changing hands, Seprod rose 51 cents to $71.51 trading 20,987 stock units, Supreme Ventures gained 50 cents to end at $17.40, with 4,427 units crossing the market and Sygnus Credit Investments picked up 34 cents to settle at $15.09, in an exchange of 77,107 shares.
Trading for the day averaged 282,397 units at $1,403,688, compared to 209,173 shares at $1,532,486 on Wednesday. The month to date averaged 445,935 units at $2,598,567, down from 498,459 units at $2,982,324 on Wednesday. Trading in January closed with an average of 311,275 units at $1,432,133.
Salada Foods closed at a 52 weeks’ high of $46, with a gain of $3.25 in exchanging 23,970 stocks, Scotia Group shed 70 cents in closing at $43, with 23,045 shares crossing the market, Seprod dropped $2.50 to finish at $71, with an exchange of 11,519 stock units. Sygnus Credit Investments shed 77 cents to close at $14.75, in switching ownership of 217,838 shares and Victoria Mutual Investments gained 40 cents to close at $5.85, after transferring 2,355 stock units.
At the close, the All Jamaican Composite Index fell by 1,979.75 points to 425,569.16, the Main Index dropped 1,835.84 points to 388,248.59 and the JSE Financial Index dipped 0.54 points to 98.79.
The month to date averaged 498,459 units at $2,982,324 or each security, in contrast to 649,530 units at $3,739,461 on the prior trading day. Trading in January averaged 311,275 units at $1,432, 133.
Pan Jam Investment fell by $1 to $64, in switching ownership of 821 units, Pulse Investments lost 28 cents at $4.70, with an exchange of 1,857,207 stock units, Sagicor Group declined by $3 to $49, with 61,577 shares crossing the market. Sagicor Real Estate Fund gained 25 cents to close at $8.25, with a transfer of 3,826 stocks. Salada Foods advanced by $5.75 to end at a 52 weeks’ high of $42.75, in switching ownership of 17,465 units. Seprod climbed $2.98 to $73.50, with an exchange of 9,932 units, Stanley Motta gained 29 cents to end at $5.35 trading 1,000 shares and Wisynco Group rose 30 cents to $16.55, with the swapping of 521,881 shares.
At the close, the All Jamaican Composite Index jumped 4,248.43 points to 427,548.91 the Main Index climbed 3,864.20 points to 390,084.43 and the JSE Financial Index rose 0.84 points to settle at 99.33.
Trading for the day averaged 442,912 units at $1,499,332 for each security, down from 856,148 shares at $5,979,591 on Monday. The month to date averaged 649,530 units at $3,739,461. Trading in January averaged 311,275 units at $1,432,133.
Pulse Investments picked up 38 cents to end at $4.98, after an exchange of 3,233,145 shares, Salada Foods fell $1 to $37, with 48,187 shares changing hands, Scotia Group gained 78 cents to close at $43.78 in trading 7,334 stock units. Seprod jumped $6.52 to a record closing high of $70.52 after 3,980 shares crossed the market after trading at a record high of $83.99 earlier in the trading session and Supreme Ventures ended 30 cents lower at $16.70, in transferring 13,037 stocks.
Trading ended with 45 securities changing hands compared to 44 on Friday and closed with rising stocks outnumbered declining ones by 62 percent leaving prices of 12 stocks rising, 28 declining and five remaining unchanged. Ciboney traded at a 52 weeks’ high of 26 cents and Palace Amusement fell to a 52 weeks’ low of $950.
Trading for the day averaged 856,148 units at $5,979,591 for each security, compared to an average of 272,282 shares at $4,886,953 on Friday. Trading in January with an average of 311,275 units at $1,432,133.
Salada Foods rose $1 to close at $38, in exchanging 42,886 stock units, Scotia Group shed 79 cents to finish at $43, with 24,748 shares changing hands. Seprod gained 50 cents to settle at $64 after 6,678 stock units crossed the market, Supreme Ventures lost 49 cents to end at $17 trading 38,797 shares and Sygnus Credit Investments slipped 30 cents to $15.70, after transferring 85,391 shares.
While the Junior Market had a new addition, the Main Market TOP10 continued with the same stocks as the week before but Grace Kennedy price rose from $68 to $73.45 with the stock moving from 5th spot to 7th.
In this regard, based on 2020 release of results, interim financials are expected this week, from Access Financial, Barita Investments, Iron Rock Insurance, NCB Financial, the Lasco group of companies and Jamaican Teas.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 18.9 and the Junior Market 14.8, based on ICInsider.com’s projected 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 7.8 at just 53 percent of the market average. The Main Market TOP 10 stocks trade at a PE of 9.1 or 48 percent of the PE of that market.
IC TOP10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain 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.
The market closed with 11,980,396 shares, 30 percent more than Thursday and 168 percent more in value at $215,025,944, up from 9,368,496 units at $83,242,802 on Thursday.
At the close, the All Jamaican Composite Index climbed 2,827.24 points to 425,254.53, the JSE Main Index rose 2,558.50 to 387,937.83 and the JSE Financial Index added 0.56 points to close at 99.32.
Pan Jam Investment declined by $3 to $67, with 134,726 stocks crossing the market, Sagicor Group advanced by $3.01 to $52 after trading 598,948 stock units, Sagicor Real Estate Fund fell 95 cents to $8 in exchanging 19,000 shares. Salada Foods climbed $3 to $37, in swapping of 80,784 units, Scotia Group rose 79 cents to close at $43.79, in an exchange of 28,402 stock units, Sygnus Credit Investments shed 30 cents in closing at $16, with 34,889 units crossing the market and Victoria Mutual Investments lost 30 cents to end at $5.55, with the swapping of 62,867 stocks.
At the close, the All Jamaican Composite Index climbed 3,030.64 points to 422,427.29, the Main Index advanced by 2,742.58 points to 385,379.33 and the JSE Financial Index gained 0.83 points to settle at 98.76.
Trading for the day averaged 234,212 units at $2,081,070 for each security, compared to an average of 135,516 shares at $991,633 on Wednesday. The month to date averaged 313,511 units at $1,254,396, in contrast to 317,481 units at $1,213,011 on Wednesday. Trading in December averaged 455,206 units at $7,774,631.
Salada Foods rose $1 to end at $34, with 130,075 shares changing hands, Scotia Group gained 50 cents to end at $43 trading 47,495 stock units and Wisynco Group rose 50 cents to $16.50, with an exchange of 190,585 stocks.
At the close, the All Jamaican Composite Index shed 8.73 points to settle at 419,396.65, the Main Index slipped 12.43 points to 382,636.75 and the JSE Financial Index lost 0.37 points to settle at 97.93.
Transjamaican Highway led trading with 41 percent of total volume for 2.45 million shares followed by Sagicor Select Financial Fund with 22.7 percent for 1.35 million units and Wigton Windfarm with 9 percent market share, with 533,829 units changing hands.
Pan Jam Investment advanced by $2 to $68, with 4,690 stocks changing hands, Scotia Group declined $1.50 to end at $42.50 trading 28,644 shares. Supreme Ventures rose 34 cents to close at $17.25 and finishing with an exchange of 31,430 stock units and Sygnus Credit Investments ended 30 cents higher at $16.40, after crossing the market with 10,730 stocks.