Local Equities Market
For the week ending September 20, 2024, the local stock market, measured by the Combined Index, improved by 0.21%. The Main Market Index improved by 0.09%, the Junior Market Index improved by 1.54%, and the JSE USD Equities Index declined by 2.19%. During the week, CAC 2000 Limited was the largest gainer, rising by approximately 15.58% to close at $2.30. Margaritaville (Turks) Limited USD was the biggest decliner, which fell by 24.80% to close at US$0.08.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, decreasing by 4.24%, relative to its Main Market counterpart which has declined by 6.14%.
For the week ending September 20, 2024, overall market activity resulted from trading in 124 stocks of which 47 advanced, 59 declined and 18 traded firm. Market volume amounted to 264,830,268 units valued at over $1,349,773,036.51. Transjamaican Highway Limited with 148,733,337 units (54.23%), followed by Radio Jamaica Limited with 34,592,783 units (12.61%), and by Wigton Windfarm Limited with 12,970,614 units (4.73%).
Revisiting relevant news during the week:
Cement shortage worsens
Caribbean Cement Company Limited (CCC) is coming under fire due to a shortage of cement in the market, a situation which has slowed down projects, contractors, hardware stores, and other players in the multibillion-dollar construction industry.Derrimon to refresh operations of US supermarkets.
Cement shortage worsens
JMMB ‘flows’ into microcredit
The JMMB Group and Flow Jamaica are going after a share of the $46-billion microcredit market in Jamaica with the launch of MYNE LEND, a 100 per cent digital microlender.
JMMB ‘flows’ into microcredit
Lab nine-month revenue dips 18 per cent
A dip in media activities for creative company Limners And Bards Limited, which trades as The Lab, saw the entity securing less revenues at the end of is nine-month period ended July 31, 2024.
Lab nine-month revenue dips 18 per cent
Indies Pharma Jamaica Limited has made history as it became the first Jamaican company to get an ANDA (Abbreviated New Drug Application) approved by the United States Food and Drug Listed investment compaListed investment company Sterling Investments Limited (SIL) is betting on lower interest rates to not only reverse some of the unrealised losses on its books, but also boost the value of its investment portfolio as well.ny Sterling Investments Limited (SIL) is betting on lower interest rates to not only reverse some of the unrealised losses on its books, but also boost the value of its investment portfolio as well.
Sterling Investments betting on rate cuts
MFS Capital Partners shifts from FX to diversified conglomerate
Investment firm MFS Capital Partners is undergoing major diversification of its investment portfolio from mainly foreign exchange (FX) trading-based income to include stocks, bonds, and real estate.
MFS Capital Partners shifts from FX to diversified conglomerate
Renewal and expansion
Knutsford Express Services Limited (KEX) is looking to further expand its transport business through the addition of several new vehicles to its expansive fleet, a move which is to be complemented by new offerings in its real estate and courier segments.
Renewal and expansion
| Unit Trust Fund | 19/09/2024 | 12/09/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.69 | 75.01 | -0.43% | -7.26% | 1.67% | - |
| Money Market | 16.8952 | 16.8625 | 0.19% | 3.71% | 4.82% | 5.68% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.23% |
| FX Bond Portfolio (US$) | 1.4589 | 1.4571 | 0.12% | 2.46% | 4.21% | 5.00% |
| Real Estate Portfolio | 16,322.27 | 16,304.51 | 0.11% | 29.66% | 28.55% | - |
| FX Growth Portfolio | 1.1166 | 1.1014 | 1.38% | 17.14% | 27.25% | - |
| FX Income Accumulator | 1.0266 | 1.0254 | 0.12% | 1.14% | 2.38% | 3.30% |
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