Local Equities Market
For the week ending September 1, 2023, the local stock market, measured by the Combined Index, advanced by 1.25%. The Main Market Index advanced by 1.34%, the Junior Market Index advanced by 0.49%, and the JSE USD Equities Index advanced by 2.92%. During the week, ISP Finance Services was the largest gainer, rising by approximately 32.69% to close at $34.50. Portland JSX Limited was the biggest decliner, which fell by 20.00% to close at $8.00.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 8.78%, relative to its Junior Market counterpart which has declined by 3.30%
For the week ending September 1, 2023, overall market activity resulted from trading in 119 stocks of which 61 advanced, 43 declined and 15 traded firm. Market volume amounted to 89,912,340 units valued at over $802,316,961.77. Wigton Windfarm Limited was the volume leader with 14,463,407 units (15.70%), followed by Stanley Motta Limited with 8,167,708 units (8.87%), and by Carreras Limited with 7,062,084 units (7.67%).
Revisiting relevant news during the week:
Wisynco expansion in mid-gear amid record demand
Following a record year where revenue jumped 25 per cent to $48.71 billion across its manufacturing and distribution segments, Wisynco Group Limited is moving expeditiously to complete its $5-billion expansion to satisfy demand in the local markets.
Wisynco expansion in mid-gear amid record demand
Fontana eyes increased revenues with Portmore’s addition
Expecting to bring a new shopping experience to Portmore, Fontana Pharmacy is optimistic that the addition of its newest location will help to continue the growth momentum that resulted in record sales in the last financial year.
Fontana eyes increased revenues with Portmore’s addition
FirstRock pushes to complete sale of Hambani units
Now at 66 per cent presold levels, FirstRock Real Estate Investments Ltd is eyeing a new year-end timeline to complete the construction and sale of its high-end Hambani residential development in Liguanea, Kingston.
FirstRock pushes to complete sale of Hambani units
Spur Tree inks new deal
Spur Tree Spices has reached an agreement with Atlanta-based BAK Foods to broaden the distribution of its products in the US, a deal which is estimated will boost the food company’s revenues “by a few million US dollars each year”. Under the deal Spur Tree Spices will be producing various products under a private labelling arrangement which will come with the BAK Foods label.
Spur Tree inks new deal
The LAB rolls out trolley advertising
The Limners and Bards Limited (The LAB), in its latest efforts to diversify revenue streams, has ventured into trolley advertising.
The LAB rolls out trolley advertising
Japanese, Korean or Chinese cars?
Used-car dealers are cautious about importing Chinese- manufactured vehicles but Jetcon Corporation has decided to get its feet wet first with the new Beijing X55, manufactured by Beijing Automotive Industry Corporation (BAIC).
Japanese, Korean or Chinese cars?
| Unit Trust Fund | 30/08/2023 | 23/08/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 72.40 | 73.36 | -1.31% | -24.44% | -23.51% | - |
| Money Market | 16.0516 | 15.9832 | 0.43% | 3.32% | 2.82% | 4.91% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.69% |
| FX Bond Portfolio (US$) | 1.3975 | 1.3955 | 0.14% | 4.22% | 4.06% | 5.00% |
| Real Estate Portfolio | 12,678.44 | 12,697.10 | -0.15% | 59.75% | 239.32% | - |
| FX Growth Portfolio | 0.8875 | 0.8770 | 1.20% | 4.95% | 0.92% | - |
| FX Income Accumulator | 1.0025 | 1.0043 | -0.18% | 0.12% | - | 2.52% |
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