Local Equities Market
For the week ending July 28, 2023, the local stock market, measured by the Combined Index, declined by 0.76%. The Main Market Index declined by 0.79%, the Junior Market Index declined by 0.50%, and the JSE USD Equities Index advanced by 2.14%. During the week, Dolla Financial Services Limited was the largest gainer, rising by approximately 39.02% to close at $2.85. CAC 2000 Limited was the biggest decliner, which fell by 25.22% to close at $5.10.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 8.61%, relative to its Junior Market counterpart which has declined by 1.94%.
For the week ending July 28, 2023, overall market activity resulted from trading in 121 stocks of which 46 advanced, 62 declined and 13 traded firm. Market volume amounted to 134,541,713 units valued at over $853,369,611.71. Future Energy Source Company Limited was the volume leader with 19,795,284 units (14.49%), followed by Dolla Financial Services Limited with 17,249,151 units (12.62%), and by Spur Tree Spices Jamaica Limited with 15,365,754 units (11.24%).
Revisiting relevant news during the week:
Tropical Battery incorporates US subsidiary
Energy storage solutions provider Tropical Battery Company Limited (Tropical) has incorporated a new US-based subsidiary, Tropical Battery USA, LLC, to help with pushing the company’s growth plans in the North American market.
Tropical Battery incorporates US subsidiary
SVL takes 15% stake in Dolla Financial Services
Supreme Ventures Limited (SVL) has taken a 15 per cent stake in Dolla Financial Services Limited as it expands its partnership in Junior Market companies listed on the Jamaica Stock Exchange (JSE).
SVL takes 15% stake in Dolla Financial Services
Project STAR seeks more support through social IPO
Project Star is calling for more support as it continues to raise awareness of its first social initial public offering (IPO) on the Jamaica Social Stock Exchange (JSSE).
Project STAR seeks more support through social IPO
SOS to distribute 3M International products
Continuing its impressive growth trajectory, Stationery and Office Supplies (SOS) is to begin distribution for 3M International in the local market by the last quarter of this financial year.
SOS to distribute 3M International products
More financial companies skipping dividends
The Jamaica Stock Exchange Limited (JSE) is among a number of financial entities that have decided not to declare a dividend in what can be described as a challenging economic environment.
More financial companies skipping dividends
CHS transforming Medical Associates into First World facility
Consequent to its acquisition of Medical Associates in February this year, Caribbean Health Systems Limited (CHS) says it has embarked on a transformation of the Corporate Area hospital that will go beyond aesthetic renovations.
CHS transforming Medical Associates into First World facility
| Unit Trust Fund | 26/07/2023 | 19/07/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.07 | 76.25 | -0.24% | -20.61% | -25.15% | - |
| Money Market | 15.9556 | 15.9539 | 0.01% | 2.70% | 3.88% | 4.84% |
| Income Portfolio | 100.00 | 100.00 | 0.00% | - | - | 5.61% |
| FX Bond Portfolio (US$) | 1.3798 | 1.3796 | 0.01% | 2.90% | 4.31% | 4.94% |
| Real Estate Portfolio | 12,689.44 | 12,680.54 | 0.07% | 59.89% | 233.03% | - |
| FX Growth Portfolio | 0.8992 | 0.9020 | -0.31% | 6.34% | 0.73% | - |
| FX Income Accumulator | 1.0001 | 1.0061 | -0.60% | -0.13% | - | 2.57% |
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