Local Equities Market
For the week ending August 2, 2024, the local stock market, measured by the Combined Index, declined by 0.75%. The Main Market Index declined by 0.83%, the Junior Market Index advanced by 0.05%, and the JSE USD Equities Index advanced by 1.46%. During the week, Indies Pharma Jamaica Limited Company Limited was the largest gainer, rising by approximately 20.87% to close at $2.78. t-Tech Limited was the biggest decliner, which fell by 26.32% to close at $2.10.
Small-cap stocks, reflecting those listed on the Junior Market Index are overperforming on a YTD basis, decreasing by 2.92%, relative to its Main Market counterpart which has declined by 4.25%.
For the week ending August 2, 2024, overall market activity resulted from trading in 121 stocks of which 53 advanced, 59 declined and 9 traded firm. Market volume amounted to 166,163,190 units valued at over $1,346,535,847.82. Radio Jamaica Limited was the volume leader with 55,751,869 units (33.42%), followed by Wigton Windfarm Limited with 18,682,248 units (11.20%), and by NCB Financial Group Limited 18,227,440 units (10.93%).
Revisiting relevant news during the week:
Dolla Financial plans capital raise ahead of festive season
CEO of Dolla Financial Group Kenroy Kerr is hopeful the microlending company will execute fund-raising plans before the close of its third quarter which ends in September 2024 — a move aimed at providing the company with a much-needed capital boost ahead of the busy Christmas season.
Dolla Financial plans capital raise ahead of festive season
Proven Group expanding presence in Barbados
Proven Group Limited has deepened its presence in Barbados following a Bds$13-million (US$6.5-million) joint venture investment in One Barbados Place.
Proven Group expanding presence in Barbados
Equityline winding up business as JSE suspends trading
Equityline Mortgage Investment Corporation (ELMIC) will be winding up its business and distributing assets to satisfy investor claims, a bitter sight for the six-year old start-up company. This occurs at the same time the company’s preference shares were suspended by Jamaica Stock Exchange (JSE) for a second time in two months.‘We can’t drain these resources’ .
Equityline winding up business as JSE suspends trading
Food sales continue to fatten GK’s business
Food and financial services conglomerate GraceKennedy (GK) Limited reported $84.4 billion in revenues during the first six months of its current financial year, with almost 80 per cent of that earned by its food division.
Food sales continue to fatten GK’s business
One on One in high gear with One Academy, B2B expansions
E-learning company One on One Educational Services aims to add another 25 schools to its One Academy initiative — its online learning platform — by the start of the new school year so as to hit a milestone of having 100 schools enrolled under the programme.
One on One in high gear with One Academy, B2B expansions
Advertising and production company The Limners and Bards Limited (The LAB) is now finalising plans to roll out a new investment vehicle to fund projects in the burgeoning local film industry.
The Lab doubles down on film industry with new investment vehicle
| Unit Trust Fund | 02/08/2024 | 24/07/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.05 | 74.86 | 1.59% | -5.57% | 1.42% | - |
| Money Market | 16.7668 | 16.7689 | -0.01% | 2.92% | 4.90% | 5.64% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.23% |
| FX Bond Portfolio (US$) | 1.4692 | 1.4674 | 0.12% | 3.19% | 6.58% | 5.02% |
| Real Estate Portfolio | 16,260.57 | 16,238.05 | 0.14% | 29.17% | 28.00% | - |
| FX Growth Portfolio | 1.0649 | 1.0827 | -1.64% | 11.72% | 19.37% | - |
| FX Income Accumulator | 1.0243 | 1.0226 | 0.17% | 0.91% | 2.08% | 3.48% |
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