Local Equities Market
For the week ending May 3, 2024, the local stock market, measured by the Combined Index, advanced by 0.43%. The Main Market Index advanced by 0.42%, the Junior Market Index advanced by 0.58%, and the JSE USD Equities Index declined by 0.62%. During the week, Stanley Motta Limited was the largest gainer, rising by approximately 20.92% to close at $7.40. Margaritaville (Turks) Limited was the biggest decliner, which fell by 15.07% to close at $14.26.
Small-cap stocks, reflecting those listed on the Junior Market Index are overperforming on a YTD basis, decreasing by 1.17%, relative to its Main Market counterpart which has declined by 1.51%.
For the week ending May 3, 2024, overall market activity resulted from trading in 124 stocks of which 61 advanced, 46 declined and 17 traded firm. Market volume amounted to 106,553,472 units valued at over $461,999,556.25. Wigton Windfarm Limited was the volume leader with 28,850,744 units (30%), followed by TransJamaican Highway Limited with 11,760,513 units (11%), and by One Great Studio Limited with 8,748,003 units (8%).
Revisiting relevant news during the week:
QWI anticipates improved future performance
Bemoaning the negative impacts on its business brought on by continued volatility in financial markets, investment and management company QWI Investments Limited has expressed optimism that there will be some growth in its stock as pressure eases and demand improves in the nottoo- distant future.
QWI anticipates improved future performance
Kingston Properties relaunches share buyback
Kingston Properties Limited (KPREIT) has relaunched its share buyback programme as other listed companies seek to repurchase their shares at a time when some stock prices are considered undervalued.
Kingston Properties relaunches share buyback
VM Wealth shifts year-end for unit trust
VM Wealth Management Limited (VMWM) has changed the yearend for its unit trust offerings as it seeks to streamline the audit process while improving service delivery to its clients.
VM Wealth shifts year-end for unit trust
Lee-Chin invites Jamaicans to invest in NCBFG APO
Michael Lee-Chin, the chairman and majority shareholder of NCB Financial Group Limited (NCBFG), is welcoming Jamaicans from all walks of life to seize a new opportunity to invest alongside him as NCBFG seeks to recalibrate and expand its business.
Lee-Chin invites Jamaicans to invest in NCBFG APO
Clarke warns revenue underperformance could impact spending this fiscal year
Finance Minister Nigel Clarke is now carefully watching tax intake for the current fiscal year that began a month ago on April 1 as new data published Tuesday show the revenue source declined more than expected.
Clarke warns revenue underperformance could impact spending this fiscal year
Clarke revising inflation target
Finance Minister Nigel Clarke is expected to, within the next few weeks, set the Bank of Jamaica (BOJ) a new inflation target to cover the fiscal years 2024/25 to 2026/27 in keeping with the requirement for the target to be reviewed every three years. The inflation target was last set at 4 per cent to 6 per cent in 2021 by the finance minister.
Clarke revising inflation target
| Unit Trust Fund | 30/04/2024 | 24/04/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 78.13 | 75.73 | 3.17% | -2.99% | -6.51% | - |
| Money Market | 16.4842 | 16.4620 | 0.13% | 1.19% | 4.55% | 5.28% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.09% |
| FX Bond Portfolio (US$) | 1.4381 | 1.4370 | 0.08% | 1.01% | 5.24% | 4.68% |
| Real Estate Portfolio | 16,259.81 | 16,248.99 | 0.07% | 29.16% | 33.23% | - |
| FX Growth Portfolio | 1.0075 | 1.0153 | -0.77% | 5.70% | 14.64% | - |
| FX Income Accumulator | 1.0138 | 1.0152 | -0.14% | 0.12% | 0.44% | 2.96% |
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