Local Equities Market
For the week ended July 22, 2022, the local stock market as measured by the Combined Index declined week-over-week by 1.13%. The Main Market Index declined by 1.23%, the JSE Junior Market Index declined by 0.13%, and the JSE USD Equities Index declined by 1.58%. During the week, Paramount Trading Ltd. was the largest gainer, rising 25.33% to close at $1.88. The biggest decliner was ISP Finance Service Ltd., which fell by 29.02% to close at $20.94.
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 25.86% YTD, outpacing its Main Market counterpart which is down 3.91% YTD.
Overall Market activity resulted from trading in 118 stocks of which 50 advanced, 59 declined and 9 traded firm. Market volume amounted to 100,229,815 units valued at over $646,693,554.61.
The following companies represent the overall volume leaders: –
1. Dolla Financial Services Limited with 29,863,394 units (29.43%)
2. Wigton Windfarm Limited Ordinary Shares with 12,736,959 units (12.55%)
3.Transjamaican Highway Limited with 7,164,006 units (7.06%)
Revisiting relevant news during the week:
Co-Chairman of the Economic Programme Oversight Committee (EPOC) Keith Duncan has expressed confidence in the Bank of Jamaica’s (BOJ’s) policy decisions on inflation and the foreign exchange rate as it aims to ensure macroeconomic stability.
EPOC backs BOJ policy decisions
The Caribbean Export Development Agency and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) have agreed on a framework to cooperate on growing businesses through sustainable energy.
Building resilience via sustainable energy
Victoria Mutual Investments Limited (VMIL) will be increasing the interest rate charged on loans by 200 basis points (2.00 per cent) effective September 1 as the Bank of Jamaica’s (BOJ’s) policy rate continues to climb and liquidity tightens in the market
VM Investments to hike loan rates
After indicating in recent months that it will soon be seeking to raise capital to facilitate its business growth activities, Regency Petroleum Limited (RPL) has now selected GK Capital Management (GKCM) as its financial advisor in that pursuit.
Regency Petroleum takes aim at listing on the JSE
Mailpac Local, the grocery delivery arm of Mailpac Group Limited, announced on Monday it has entered into an operational partnership with Virtual Mart, described as an industry leader, to execute the sourcing and delivery of groceries and household items from its Mailpac Local website.
Mailpac inks deal with super grocer for online shopping and local deliveries
Following delays associated with the novel coronavirus pandemic, PanJam Investments Limited opened the ROK Hotel, Tapestry Collection by Hilton, in downtown, Kingston, on Tuesday, July 19.
PanJam opens ROK Hotel
| Unit Trust Fund | 22/07/2022 | 15/07/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 98.81 | 99.04 | -0.23% | 7.47% | 7.45% | - |
| Money Market | 15.1393 | 15.3400 | -1.31% | -0.56% | 0.20% | 2.30% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 3.34% |
| FX Bond Portfolio (US$) | 1.3127 | 1.3116 | 0.08% | -4.76% | -3.87% | 2.67% |
| Real Estate Portfolio | 3,773.74 | 3864.05 | -2.34% | 611.93% | 573.72% | - |
| FX Growth Portfolio | 0.89 | 0.8526 | 3.81% | -18.20% | -14.56% | - |
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