Local Equities Market
For the week ending August 30, 2024, the local stock market, measured by the Combined Index, improved by 1.45%. The Main Market Index improved by 1.40%, the Junior Market Index improved by 2.09%, and the JSE USD Equities Index improved by 4.98%.
During the week, Innovative Energy Group (formerly CBNY) was the largest gainer, rising by approximately 34.52% to close at $1.13. K.L.E. Group Limited was the biggest decliner, which fell by 31.82% to close at $1.50. Small-cap stocks, reflecting those listed on the Junior Market Index are underperforming on a YTD basis, decreasing by 5.18%, relative to its Main Market counterpart which has declined by 4.05%.
For the week ending August 30, 2024, overall market activity resulted from trading in 124 stocks of which 70 advanced, 40 declined and 14 traded firm. Market volume amounted to 165,768,916 units valued at over $677,854,584.40. Radio Jamaica Limited was the volume leader with 25,267,073 units (14.07%), followed by Jamaican Teas Limited with 19,094,977 units (10.64%), and by TransJamaican Highway Limited (USD) with 13,525,492 units (7.53%).
Revisiting relevant news during the week:
Stuck in Limbo
Shareholders of Productive Business Solutions Limited (PBS) might have to wait until the end of October before they can resume trading in the company’s shares, nearly four months after its July 2 suspension, with the company reporting it is still facing issues to complete its 2023 audited financials.
Stuck in Limbo
Investors shed RA Williams shares in opening trade
RA Williams Distributors Limited successfully listed on the Junior Market of the Jamaica Stock Exchange (JSE) on Wednesday, but a wave of investors jumped ship as the company’s stock price dropped for two days straight.
Investors shed RA Williams shares in opening trade
Purity’s quest for perfect product mix continues
Consolidated Baking Company, which trades under the Purity brand, is still on a quest to find the ideal product mix that will fuel its next phase of growth amid growing competition in the bread market.
Purity’s quest for perfect product mix continues
GWest seeks hospital status for MoBay facility
G West Corporation Limited, the Montego Bay, St James-based medical facility, is currently awaiting a final evaluation from the Ministry of Health & Wellness (MOHW) ahead of a planned upgrade to hospital status.
GWest seeks hospital status for MoBay facility
Basel III implementation on track Banks bulking up capital base
The Bank of Jamaica (BOJ) says it is working to fully implement by March 2026 all three pillars of the new set of rules that require banks to hold more capital to provide a bigger safety net to protect themselves and their customers’ deposits from losses.
Basel III implementation on track Banks bulking up capital base
Guardian Holdings on efficiency hunt
With a new mandate set by its parent company NCB Financial Group Limited (NCBFG), Guardian Holdings Limited (GHL) has embarked on fresh initiatives to not only expenses, but also cut its leverage and reallocate capital across the group.
Guardian Holdings on efficiency hunt
| Unit Trust Fund | 28/08/2024 | 22/08/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.90 | 73.77 | 1.53% | -7.00% | 3.01% | - |
| Money Market | 16.8229 | 16.8128 | 0.06% | 3.26% | 5.19% | 5.64% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.22% |
| FX Bond Portfolio (US$) | 1.4806 | 1.4749 | 0.39% | 3.99% | 6.01% | 4.80% |
| Real Estate Portfolio | 16,303.49 | 16,295.86 | 0.05% | 29.51% | 28.67% | - |
| FX Growth Portfolio | 1.1058 | 1.1177 | -1.06% | 16.02% | 26.45% | - |
| FX Income Accumulator | 1.0261 | 1.0260 | 0.01% | 1.09% | 2.17% | 3.34% |
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