Local Equities Market
For the week ended June 16, 2023, the local stock market as measured by the Combined Index declined by 1.10%. The Main Market Index declined by 1.47%, the Junior Market Index advanced by 2.15%, and the JSE USD Equities Index advanced by 1.11%. During the week, Sagicor Manufacturing and Distribution was the largest gainer, rising by approximately 21.43% to close at $0.68. The biggest decliner was ISP Finance Services which fell by 16.29% to close at $22.15.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 9.38%, relative to its Junior Market counterpart which has declined by 2.47%.
For the week ended June 16, 2023, overall market activity resulted from trading in 125 stocks of which 51 advanced, 61 declined and 13 traded firm. Market volume amounted to 172,214,225 units valued at over $1,641,291,236.75. Transjamaican Highway Limited was the volume leader with 43,717,589 units (24.88%), followed by Wigton Windfarm Limited with 23,165,193 units (13.18%) and by Kingston Wharves Limited with 17,773,757 units (10.12%).
Revisiting relevant news during the week:
Companies urged to strengthen cybersecurity posture
Following the latest wave of cyber attacks locally, companies are being urged to beef up their cybersecurity strategies to insulate themselves from the strongholds of more devastating future breaches.
Companies urged to strengthen cybersecurity posture
$11.5b in new notes issued yesterday
The Bank of Jamaica (BOJ) said it issued $11.5-billion worth of the new polymer banknotes on Thursday, the first day the new notes were distributed to the public. The new notes that are being issued are set to, over time, replace $228 billion in notes that were in circulation as at Wednesday.
$11.5b in new notes issued yesterday
May inflation
Consumer prices in Jamaica increased the most in May of this year, rising 0.6 per cent from April to May. Measured year over year, inflation reached 6.1 per cent in May — just above the upper bound of the 4 per cent to 6 per cent rate within which the central bank is mandated to keep price increases.
May inflation
An acquisition year for VM Investments Limited
VM Investment Limited (VMIL) is making 2023 its year of acquisitions as it continues to steadily grow its investment portfolio.
An acquisition year for VM Investments Limited
Indies Pharma records strong performance
Junior Market-listed pharmaceutical company Indies Pharma reported a strong financial performance for 2022 and advancements in its drug development initiatives during its annual general meeting on Wednesday, May 31, in Montego Bay.
Indies Pharma records strong performance
Scotia floats growth backed by strong liquidity
Boasting strong liquidity and good credit quality, Scotia Group Jamaica Limited expects to continue its positive growth momentum, eyeing increased results across the business during the rest of this financial year. Scotia floats growth backed by strong liquidity.
Scotia floats growth backed by strong liquidity
| Unit Trust Fund | 6/15/2023 | 6/09/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 77.59 | 77.80 | -0.27% | -19.02% | 18.91% | - |
| Money Market | 15.9473 | 15.8791 | 0.43% | 2.65% | 3.75% | 4.63% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.70% |
| FX Bond Portfolio (US$) | 1.3735 | 1.3724 | 0.08% | 2.43% | 3.28% | 4.80% |
| Real Estate Portfolio | 12,256.65 | 12,327.92 | -0.58% | 54.43% | 2,155.97% | - |
| FX Growth Portfolio | 0.89 | 0.8788 | 1.29% | 5.25% | -6.12% | - |
| FX Income Accumulator | 1.01 | 1.01 | 0.16% | 0.57% | - | 2.41% |
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