Local Equities Market
For the week ending August 11, 2023, the local stock market, measured by the Combined Index, declined by 1.40%. The Main Market Index declined by 1.49%, the Junior Market Index decreased by 0.67%, and the JSE USD Equities Index advanced by 0.74%. During the week, Sygnus Credit Investments Limited USD was the largest gainer, rising by approximately 21.22% to close at USD 0.11. Stationery and Office Supplies Limited was the biggest decliner, which fell by 17.41% to close at $1.84.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 8.38%, relative to its Junior Market counterpart which has declined by 1.11%.
For the week ending August 11, 2023, overall market activity resulted from trading in 124 stocks of which 38 advanced, 69 declined and 17 traded firm. Market volume amounted to 102,618,254 units valued at over $601,332,523.57. Mailpac Group Limited with 16,985,308 units (16.32%) was the volume leader, followed by Wigton Windfarm Limited with 114,503,888 units (13.93%), and by Transjamaican Highway Limited with 10,147,436 units (9.75%).
Revisiting relevant news during the week:
One Great Studio breaks IPO drought
Digital marketing company One Great Studio (1GS) has broken the drought for investors seeking to participate in initial public offers (IPO) this year, being the first to come to market.
One Great Studio breaks IPO drought
FSC proposes changes for dividends by securities dealers
Scotiabank is the latest financial institution to come to market with a new ‘green’ loan to propel increased investments in renewable energy, especially now as the globe moves to slow the pace of climate change.
FSC proposes changes for dividends by securities dealers
Motor segment driving Key’s revenues
Highlighting its motor segment as the “backbone of its business”, Key Insurance in its half-year performance delivered revenues of $1.3 billion” $238.8 million more or 22.7 per cent above that of the prior year’s period.
Motor segment driving Key’s revenues
Salada’s inventory impacted by low availability of coffee
The low availability of coffee in the domestic market continues to affect inventory levels for local manufacturer Salada Foods Jamaica, which at the end of the third quarter saw its supplies reduced to $425 million – 24 per cent below that of the corresponding period last year.
Salada’s inventory was impacted by low availability of coffee
Government to review trade deals as it explore new export opportunities
Government, in its push to sell more local products to the international market, says its strategy isn’t to settle with any one approach but to engage a myriad of strategies as it seeks to drive exports and to settle perennial trade imbalances.
Government to review trade deals as it explore new export opportunities
| Unit Trust Fund | 09/08/2023 | 02/08/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 75.14 | 74.99 | 0.20% | -21.58% | -19.74% | - |
| Money Market | 15.9817 | 15.9883 | -0.04% | 2.87% | 4.27% | 4.85% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.65% |
| FX Bond Portfolio (US$) | 1.3802 | 1.3785 | 0.12% | 2.92% | 3.02% | 4.96% |
| Real Estate Portfolio | 12,676.25 | 12,704.06 | -0.22% | 59.72% | 233.04% | - |
| FX Growth Portfolio | 0.89 | 0.8921 | -0.65% | 4.81% | -4.22% | - |
| FX Income Accumulator | 1.00 | 1.00 | 0.15% | 0.36% | - | 2.47% |
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