Local Equities Market
For the week ending March 28, 2024, the local stock market, measured by the Combined Index, declined by 0.13%. The Main Market Index declined by 0.34%, the Junior Market Index advanced by 2.21%, and the JSE USD Equities Index declined by 1.16%. During the week, One on One Educational Services Limited (USD) was the largest gainer, rising by approximately 22.09% to close at $1.05. TTech Limited was the biggest decliner, which fell by 16.25% to close at $2.01.
Small-cap stocks, reflecting those listed on the Junior Market Index are overperforming on a YTD basis, increasing by 0.72%, relative to its Main Market counterpart which has declined by 0.64%.
For the week ending March 28, 2024, overall Market activity resulted from trading 123 stocks of which 50 advanced, 56 declined and 17 traded firm. Market volume amounted to 125,520,274 units valued at over $755,100,479.06. Spur Tree Spices Jamaica Limited was the volume leader with 30,844,546 units (24.45%), followed by Transjamaican Highway Limited with 15,667,968 units (12.42%) and by General Accident Insurance Limited with 12,606,549 units (9.99%).
Revisiting relevant news during the week:
A cup worth fighting for
Ask any Jamaican about Blue Mountain coffee, and though many may not have ever had it in its pure form, almost all will, with matter-of-fact arrogance, tell you that it’s the best coffee in the world. But does that match up with the price of the commodity?
A cup worth fighting for
NCB’s Canadian pivot
The latest round of board changes at NCB Financial Group Limited (NCBFG) has seen the board composition effectively becoming mainly Canadian, a possible reflection of where chairman and majority owner Michael Lee-Chin intends to take the financial conglomerate.
NCB’s Canadian pivot
No more surprises BOJ calls for structure to taxifare increase to help in inflation fight
The Bank of Jamaica (BOJ) has indicated that the Government needs to work out a “more structured approach” to how it goes about implementing changes in some regulated prices to give it a hand in the fight against inflation. The central bank did not identify which regulated prices it was referring to – they include bus and taxi fares and utility rates. However, the BOJ has had to issue an apology recently after acknowledging that it erred in calculating the impact an additional $1-billion subsidy to the State-owned Jamaica Urban Transit Company (JUTC) would have on offsetting inflation that would come from a 35 per cent increase in taxi fares.
No more surprises BOJ calls for structure to taxifare increase to help in inflation fight
Wigton mulls regional opportunities
Wigton Windfarm Limited is exploring the Caribbean for potential opportunities to expand its renewable energy business as it seeks to diversify its operations.
Wigton mulls regional opportunities
Salada reviews dividend policy
Beverage manufacturer Salada Foods Limited is reviewing its dividend policy as it seeks to balance shareholder value with investment in its operations and market expansion activities.
Salada reviews dividend policy
SOS to double SEEK factory output
Investing over $50 million to procure new equipment, Stationery and Office Supplies Limited (SOS) is looking to double output from its SEEK factory by mid-year.
SOS to double SEEK factory output
| Unit Trust Fund | 25/03/2024 | 20/03/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.86 | 75.76 | 1.46% | -4.56% | -4.42% | - |
| Money Market | 16.508 | 16.4964 | 0.07% | 1.33% | 5.53% | 5.32% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.06% |
| FX Bond Portfolio (US$) | 1.4645 | 1.4623 | 0.15% | 2.85% | 7.82% | 5.26% |
| Real Estate Portfolio | 12,547.88 | 12,607.86 | -0.48% | -0.32% | 58.56% | - |
| FX Growth Portfolio | 1.04 | 1.02 | 2.25% | 9.36% | 18.40% | - |
| FX Income Accumulator | 1.0173 | 1.0144 | 0.29% | 0.22% | 0.88% | 3.00% |
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