Local Equities Market
For the week ending September 6, 2024, the local stock market, measured by the Combined Index, declined by 2.32%. The Main Market Index declined by 2.56%, the Junior Market Index improved by 0.38%, and the JSE USD Equities Index improved by 1.25%. During the week, Key Insurance Company Limited was the largest gainer, rising by approximately 6.81% to close at $2.98. Radio Jamaica Limited was the biggest decliner, which fell by 18.75% to close at $1.04.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, decreasing by 4.82%, relative to its Main Market counterpart which has declined by 6.51%.
For the week ending September 6, 2024, overall market activity resulted from trading in 65 stocks of which 13 advanced, 41 declined and 11 traded firm. Market volume amounted to 70,105,443 units valued at over $1,374,572,348.34. Jamaica Producers Group Ltd. was the volume leader with 22,560,249 units (32.18%), followed by TransJamaican Highway Limited with 9,524,893 units (13.59%), and by NCB Financial Group Limited with 7,251,323 units (10.34%).
Revisiting relevant news during the week:
Construction drag continues
Lower output from reduced building activities led to a third consecutive quarterly decline for the construction industry, with estimates that the sector contracted 2.4 per cent during the April to June quarter, according to preliminary data released by the Planning Institution of Jamaica (PIOJ) this week.
Construction drag continues
MJE bets on interest rate reduction
Mayberry Jamaican Equities (MJE) is hopeful that with the recent announcement of a reduction in interest rates, its equities portfolio will see more profits this year.
MJE bets on interest rate reduction
Tank-Weld boosts exports to region
Tank-Weld Metals has boosted exports to the region, expanding its reach into eight islands in the last two years as the company realises the benefits of operating its bulk materials port in Rio Bueno, Trelawny.
Tank-Weld boosts exports to region
FosRich eyes December opening of super centre
Owing to construction delays which caused it to miss the June delivery timeline, lighting and energy company FosRich is pushing to have its new super centre ready for use by the end of this year.
FosRich eyes December opening of super centre
Wisynco meets summer demand with expanded capacity
Despite the summer season bringing elevated temperatures, Wisynco Group Limited was able to meet the usually higher demand for its beverages in full following its recent multi-billion expansion.
Wisynco meets summer demand with expanded capacity
Jamaica signs MOU with IFC targeting US$2 billion in investments
Jamaica has signed a memorandum of understanding (MOU) with International Finance Corporation, the private sector arm of the World Bank Group, that could mobilise over US$2 billion of private investments in the country in the next few years.
Jamaica signs MOU with IFC targeting US$2 billion in investments
| Unit Trust Fund | 04/09/2024 | 28/08/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.66 | 74.90 | -0.32% | -7.30% | 1.72% | - |
| Money Market | 16.8426 | 16.8426 | 0.12% | 3.38% | 4.89% | 5.69% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.24% |
| FX Bond Portfolio (US$) | 1.4574 | 1.4806 | -1.57% | 2.35% | 4.25% | 4.95% |
| Real Estate Portfolio | 16,304.70 | 16,303.49 | 0.01% | 29.52% | 29.01% | - |
| FX Growth Portfolio | 1.0912 | 1.1058 | -1.32% | 14.48% | 22.90% | - |
| FX Income Accumulator | 1.0257 | 1.0261 | -0.04% | 1.05% | 2.11% | 3.34% |
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