Market Updates | Barita Insights | September 20, 2021

Local Equities Market

For the week ended Friday, our local stock market decreased week-over-week. The JSE Combined Index decreased by 0.36%, the Main Market Index decreased by 0.37%, the JSE All Jamaican Composite Index decreased by 0.49%, the JSE Junior Market Index decreased by 0.20%, and the JSE USD Equities Index declined by 0.73%. During the week, ISP Finance Services Limited was the largest gainer, rising by approximately 35.06% to close at J$23.50. The biggest loser was SSL Venture Capital Jamaica Limited which fell by 15.58% to close at J$0.65.

Year to Date, The Junior Market Index (+22.89% YTD) continues to outpace its Main Market counterpart (+2.87% YTD) by a wide margin.

As of Friday September 17, 2021, overall market activity resulted from trading in 108 stocks of which 41 advanced, 54 declined and 13 traded firm. Market volume amounted to 77,469,517 units valued at over $1,541,670,414.96. Lumber Depot Limited was the volume leader with 11,234,607 units (14.50%) followed by Wigton Windfarm Limited with 10,703,470 units (13.82%) and TransJamaican Highway Limited with 9,815,514 units (12.67%).

Revisiting relevant news during the week:

Finance Minister hoping multilayered risk management approach to natural disasters will be institutionalized on the back of Jamaica securing US$185 million catastrophe bond.

Building for recovery.

First rock secure multimillion dollar commercial lease with Jamaican business process outsourcing company, Anglin Global.

First Rock secures multi million dollar lease.

Sygnus credit investment limited has declared record interim dividend of US$1.55 million following the release of the audited results for the financial year ended June 2021, it highest interim dividends payment to date.

SCI declares record dividend payout.

After making a series of acquisitions across the Caribbean, Proven Investment Limited is looking to integrate its current subsidiaries and pending acquisitions under a core brand.

Proven looks to integration of subsidiaries.

According to the latest STATIN data, export earnings for the period January to May 2021 grew by 24.6% compared to the same period last year. The top five destinations for exports were the United States, the Netherlands, Canada, Puerto Rico and the United Kingdom. Export to these countries increased by 34.4%.

Export earnings up 24.6 per cent.

In response to the highlighting of the Financial Service commissions objection to insurance companies who create subsidiaries to provide premium financing the FSC in response to the Observer noted that it isn’t a widespread problem. There are currently 17 insurance companies with operations in Jamaica and the FSC is only aware of one that directly engage in this activity.

FSC says insurance premium financing not a widespread practice.

 

Unit Trust Fund 16/09/2021 08/09/2021 Week/Week Return Year-to-Date Return 1 Year Return Yield
Capital Growth 89.70 90.81 -1.22% 5.69% 17.20% -
Money Market 15.124 15.1267 -0.02% 2.36% 2.71% 2.45%
Income Portfolio 100.00 100.00 - - - 2.83%
FX Bond Portfolio (US$) 1.3715 1.3723 -0.06% 1.13% 4.95% 2.08%
Real Estate Portfolio 5,410.48 5,408.09 -0.04% -7.28% 0.05% -
FX Growth Portfolio 1.0570 1.0599 -0.27% 5.85% 12.22% -

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