Local Equities Market
For the week ended May 12, 2023, the local stock market as measured by the Combined Index declined by 0.31%. The Main Market Index declined by 0.35%, the Junior Market Index advanced by 0.04%, and the JSE USD Equities Index advanced by 0.72%. During the week, Caribbean Assurance Brokers Limited Ordinary Shares was the largest gainer, rising by approximately 33.17% to close at $2.65. The biggest decliner was Eppley Caribbean Property Fund which fell by 17.91% to close at $36.08.
Small-cap stocks, reflecting those listed on the Junior Market Index have outperformed on a YTD basis, declining by 5.54%, relative to its Main Market counterpart which has declined by 6.23%.
For the week ended May 12, 2023, overall market activity resulted from trading in 126 stocks of which 47 advanced, 66 declined and 13 traded firm. Market volume amounted to 75,574,598 units valued at over $299,253,275.51. Wigton Windfarm Limited was the volume leader with 215,379,185 units (20.08%), followed by Transjamaican Highway Limited with 12,195,756 units (15.92%) and then One On One Educational Services Limited with 4,308,791 units (5.63%)
Revisiting relevant news during the week:
JPS applies for new electricity rates
The Jamaica Public Service Company (JPS) has applied for its annual tariff adjustments with a proposal for a 0.8 per cent increase in rates for residential customers while some commercial customers rate will only go up by 0.2 per cent. Other commercial and industrial customers could see reductions above 2.3 per cent, the JPS said.
JPS applies for new electricity rates
An investment in the poultry industry
Jamaica Broilers Group (JBG) has spent over $200 million — approximately US$1.5 million — on the rehabilitation and expansion of the Best Dressed Chicken hatchery in Cumberland, Portmore, in response to growing demand for table eggs and poultry.
An investment in the poultry industry
Consolidated Bakeries rebounds
Chairman of Consolidated Bakeries (Jamaica) Limited (CBL) Anthony Chang believes that the company's strategies are paying off with the results being a significant increase in revenues and a return to profitability after a reported loss in 2021.
Consolidated Bakeries rebounds
FosRich lights up first quarter performance
After surpassing the billion-dollar mark in quarterly revenues for the first time ever during the January-March period, lighting, electrical and solar energy products distributor FosRich Limited said it remains on the hunt for more growth opportunities throughout this year.
FosRich lights up first quarter performance
NCBFG expanding financial inclusion with NIDS pilot
NATIONAL Commercial Bank Jamaica Limited (NCBJ) has received approval from the Bank of Jamaica (BOJ) to develop and test three proof of concepts leveraging the national identification system (NIDS) which is currently in the pilot phase.
NCBFG expanding financial inclusion with NIDS pilot
GK taps Unicomer and Lynk to expand remittance services
GraceKennedy Limited (GK) has named Unicomer Jamaica Limited and digital wallet Lynk as two of the latest partnerships through which it will be pushing growth for its remittance business.
GK taps Unicomer and Lynk to expand remittance services
| Unit Trust Fund | 12/05/2023 | 05/05/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 79.7358 | 80.9 | -1.44% | -16.78% | -23.34% | - |
| Money Market | 15.7918 | 15.777 | 0.09% | 1.65% | 4.68% | 4.66% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.33% |
| FX Bond Portfolio (US$) | 1.3585 | 1.3675 | -0.66% | 1.31% | 1.00% | 4.79% |
| Real Estate Portfolio | 12,293.40 | 12,254.27 | 0.32% | 54.90% | 2245.55% | - |
| FX Growth Portfolio | 0.8778 | 0.8766 | 0.14% | 3.79% | -1.83% | - |
| FX Income Accumulator | 1.0088 | 1.0126 | -0.38% | 0.75% | - | 2.42% |
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