Market Updates | Barita Insights | September 10, 2021

Local Equities Market

For the week ended Friday, our local stock market decreased week-over-week. The JSE Combined Index decreased by 0.94%, the Main Market Index decreased by 0.94%, the JSE All Jamaican Composite Index decreased by 0.87%, the JSE Junior Market Index decreased by 0.97%, and the JSE USD Equities Index increased by 0.03%. During the week, Future Energy Source Company Limited was the largest gainer, rising by approximately 21.46% to close at J$2.49. The biggest loser was Dolphin Cove Limited which fell by 24.37% to close at J$9.00.

Year to Date, The Junior Market Index (+23.14% YTD) continues to outpace its Main Market counterpart (+3.25% YTD) by a wide margin.

As of Friday September 10, 2021, overall market activity resulted from trading in 107 stocks of which 39 advanced, 58 declined and 10 traded firm. Market volume amounted to 186,782,791 units valued at over $1,035,325,415.95. Sagicor Select Funds Limited – Financial was the volume leader with 70,316,407 units (37.65%) followed by Lumber Depot Limited with 28,515,994 units (15.27%) and Pulse Investments Limited with 16,471,290 units (8.82%) .

Revisiting relevant news during the week:

Jamaica’s net international reserves (NIR) is inching closer to the US$4-billion mark with a big US$529.13-million surge last month. Read Full Article Here.

Barita Investments is trying to raise $10 billion in an APO which opened on September 6 and is scheduled to close on September 21. The company said it could also consider upsizing the offer to $15 billion. The additional disclosures were made on Friday by Barita Investments and the FSC says it has no objection to the release of the addendum which was uploaded to the Jamaica Stock Exchange website after trading on Friday. Read Full Article Here.

Beverage company Wisynco Group Limited doubled its cash holdings in one year, from $3.6 billion to $7.2 billion, enough to part fund acquisitions when opportunities arise over the short term, Chairman William Mahfood has said. The additional cash is also part of the company’s arsenal in mitigating against any pandemic-related impacts, Mahfood told the Financial Gleaner. Read Full Article Here.

Amid swirling controversy over the relationship between Barita Finance Limited (BFL), Barita Investments Limited (BIL), and Cornerstone Financial Holding (CFHL), Jason Chambers, chief investment officer at Cornerstone United Holdings Jamaica Limited, has insisted that there is nothing overt in the management of the related entities. Real Full Article Here.

 

Unit Trust Fund 08/09/2021 01/09/2021 Week/Week Return Year-to-Date Return 1 Year Return Yield
Capital Growth 90.81 92.14 -1.44% 7.00% 19.04% -
Money Market 15.1267 15.1308 -0.03% 2.37% 2.55% 2.19%
Income Portfolio 100.00 100.00 - - - 2.34%
FX Bond Portfolio (US$) 1.3723 1.371 0.09% 1.18% 4.95% 2.04%
Real Estate Portfolio 5,408.09 5,412.45 -0.08% -7.32% -4.71% -
FX Growth Portfolio 1.0599 1.0674 -0.70% 6.15% 11.37% -

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