Market Updates | Barita Insights | February 21, 2022

For the week ended Friday, the local stock market  declined week-over-week. The JSE Combined Index declined by 1.43%, the Main Market Index decreased by 1.23%, the JSE Junior Market Index declined by 3.51%, and the JSE USD Equities Index increased by 0.28%. During the week Troprical Battery Company Ltd. was the largest gainer, rising by approximately 16.44% to close at J$1.70. The biggest decliner was 138 Student Living which fell by 23.63% to close at J$5.59.

Year to Date, with the ongoing rebound in the local economy, small-cap stocks, reflecting those listed on the Junior Market Index have continued the strong performance seen in 2021, growing by +13.01% YTD, outpacing its Main Market counterpart (-0.23% YTD) by a wide margin.

For the week ended Friday February 18, 2022, Overall Market activity resulted from trading in 114 stocks of which 41 advanced, 63 declined and 10 traded firm. Market volume amounted to 191,462,608 units valued at over $1,143,645,071.79. Wigton Windfarm Limited Ordinary Shares was the volume leader with 24,813,261 units (12.96%) followed by Tropical Battery Company Limited with 22,534,479 units (11.77%) and Derrimon Trading Company Limited with 14,325,274 units (7.48%)

Revisiting relevant news during the week:

Seprod Group through its biscuit-making subsidiary, International Biscuits Limited (IBL), said it will invest over $170 million to expand factory facilities as it seeks to roll out a new line of cheese snacks.
Seprod enters cheese snacks market

THE Bank of Jamaica (BOJ) has come under more fire for its decision on Friday to announce higher interest rates for a fourth-consecutive time which has taken its key policy rate to the highest it has been in four and a half years.
BOJ hikes rate, consumers bracing for higher loan rates in March

DESPITE a depressing performance up to December 2021, Palace Amusement Company Limited may be seeing the light at the end of the COVID-19 tunnel as a number of box office hits kept cinema doors open.
Palace Amusement rescued

MASSY Holdings Limited has maintained its growth momentum, with its core segments and various territories returning an eight per cent improvement in revenue to TT$3.23 billion ($75.36 billion) for the first quarter ending December 31, 2022.
Massy posts higher earnings

After two recently completed acquisitions in 2021, Proven Investments Limited earned its highest net profit attributable to shareholders of US$10.09 million ($1.56 billion) for its first nine months to December 2021, a figure which exceeded its pre-COVID-19 record of US$8.47 million for the same period.
Proven sets profit record

THE Barbados-based Eppley Caribbean Property Fund Limited is highlighting the benefits being reaped from its Caribbean investments, citing the just-ended first quarter in which net earnings jumped by 13 per cent.
Eppley gains from regional investments