Local Equities Market
For the week ending October 20, 2023, the local stock market, measured by the Combined Index, declined by 1.03%. The Main Market Index declined by 1.08%, the Junior Market Index declined by 0.65%, and the JSE USD Equities Index decreased by 7.91%. During the week, Edufocal Limited was the largest gainer, rising by approximately 89.55% to close at $2.54. Cargo Handlers Limited was the biggest decliner, which fell by 18.76% to close at $11.78.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 12.47%, relative to its Junior Market counterpart which has declined by 2.43%.
For the week ending October 20, 2023, overall Market activity resulted from trading in 119 stocks of which 46 advanced, 58 declined and 15 traded firm. Market volume amounted to 68,679,496 units valued at over $327,591,238.92. Edufocal Limited was the volume leader with 10,702,273 units (15.42%), followed by Wigton Windfarm Limited Ordinary Shares with 7,188,010 units (10.36%), and by Mailpac Group Limited with 5,788,384 units (8.34%).
Revisiting relevant news during the week:
Stanley Motta on track for Unit 1 completion
Real estate developer Stanley Motta Limited (SML) is looking to complete the expansion of its 126,000 square feet building known as Unit 1 in Kingston by April 2024, which is set to significantly improve its earnings.
Stanley Motta on track for Unit 1 completion
Asset managers differ on NCB Financial Group APO
NCB Financial Group Limited’s (NCBFG) extraordinary general meeting (EGM) only 11 days away, different asset managers are having mixed signals on the multi-billion-dollar additional public offering (APO) following the recent departure of several senior executives.
Asset managers differ on NCB Financial Group APO
Mayberry deepening microfinance interest
Mayberry Investments Limited has purchased an additional 10 per cent stake in Dolla Financial Services Limited as it increases its interest in listed microfinance companies.
Mayberry deepening microfinance interest
Pulse anticipates robust future growth
Real estate and creative company Pulse Investment Limited said it is now looking to accelerate the growth of its business as it moves past the challenging phases of property development and positions to welcome increased gains.
Pulse anticipates robust future growth
EduFocal mulls rights issue and stock split
Following its March 2022 initial public offering (IPO) EduFocal Limited’s board of directors will continue its deliberations this Friday on a renounceable rights issue, and consider recommending a stock split to its shareholders.
EduFocal mulls rights issue and stock split
Mass uptick in reported cyber incidents
Significantly driven by the evolution of new technologies such as artificial intelligence (AI), machine learning (ML) and quantum computing, stakeholders have indicated that they are now witnessing a more than 200 per cent increase in the number of locally reported cybersecurity breaches annually.
Mass uptick in reported cyber incidents
| Unit Trust Fund | 18/10/2023 | 11/10/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 75.55 | 75.32 | 0.31% | -21.15% | -20.66% | - |
| Money Market | 16.1192 | 16.0681 | 0.32% | 3.76% | 5.10% | 5.18% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 6.13% |
| FX Bond Portfolio (US$) | 1.3994 | 1.3994 | 0.00% | 4.36% | 5.17% | 5.06% |
| Real Estate Portfolio | 12,753.45 | 12,731.02 | 0.18% | 60.69% | 145.23% | - |
| FX Growth Portfolio | 0.8457 | 0.8587 | -1.51% | 0.00% | 1.46% | - |
| FX Income Accumulator | 0.9987 | 1.0011 | -0.24% | 0.14% | - | 2.04% |
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