Market Updates | Barita Insights | August 4, 2021

Local Equities Market

For the week ended Friday, our local stock market declined week-over-week. The JSE Combined Index increased by 0.94%, the Main Market Index increased by 1.14%, the JSE All Jamaican Composite Index increased by 1.23%, the JSE Junior Market Index decreased by 1.37%, and the JSE USD Equities Index decreased by 1.16%.

During the week, Ciboney Group Limited was the largest gainer, rising by 40.00% to close at J$0.49. The biggest loser was Future Energy Source Company Ltd which fell by 14.20% to close at J$1.45.

Year to Date, The Junior Market Index (+25.70% YTD) continues to outpace its Main Market counterpart (+7.21% YTD) by a wide margin.

As of Friday July 23, 2021, Overall Market activity resulted from trading in 104 stocks of which 36 advanced, 56 declined and 12 traded firm. Market volume amounted to 97,484,938 units valued at over $884,824,832.79. Wigton Windfarm Limited ORDINARY SHARES was the volume leader with 15,239,838 units (15.63%) followed by Lumber Depot Limited with 13,237,897 units (13.58%) and Transjamaican Highway Limited with 11,593,781 units (11.89%)

Revisiting relevant news during the week:

JAMAICA Money Market Brokers (JMMB) Group has announced plans to acquire new banking operations in the region. The disclosure was made in the group’s annual report for the financial year ended March 31, 2021. See Article Here.

Within another 11 months the capital city’s skyline will be enhanced by a five-storey building on Lady Musgrave Road housing the operations of local financial house Proven and Tingrinners Orthodontic Services.

The project, being undertaken by Proven REIT and KASE International Ltd, which trades as Tingrinners, represents an overall investment of US$8.5 million, and is being seen by the developers as a benchmark for commercial property, particularly in the post-COVID-19 era. See Article Here.

Fontana Pharmacy this week disclosed that it is investing more than $100 million in a new location in Portmore, St Catherine, that will employ upwards of 80 Jamaicans.

The pharmacy will be located in proximity to Braeton Parkway and Municipal Drive, adjacent to the new PriceSmart, and will become the chain’s seventh store in Jamaica. See Article Here.

 

Unit Trust Fund 29/7/2021 21/7/2021 Week/Week Return Year-to-Date Return 1 Year Return Yield
Capital Growth 91.87 91.94 -0.07% 8.26% 20.58% -
Money Market 15.1246 15.1092 0.10% 2.36% 3.44% 1.58%
Income Portfolio 100.00 100.00 - - - 2.25%
FX Bond Portfolio (US$) 1.3638 1.3656 -0.13% 0.56% 4.89% 2.05%
Real Estate Portfolio 5,488.40 5,601.32 -2.02% -5.94% -12.03% -
FX Growth Portfolio 1.0421 1.0360 0.58% 4.36% 15.94% -

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