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Jamaica Stock Exchange summary for week of March 15-19, 2021

ALL major Jamaica Stock Exchange (JSE) indices except the JSE Financial Index (JSEF) recorded declines for the week ending March 19, 2021.

The JSE Index declined by 0.62 per cent to 394,570.77 points which resulted in the index being down 0.26 per cent year to date. The other major indices closed out the week as mentioned – All Jamaican Composite Index: 432,777.32; JSE Select Index: 9,800.09; JSE Cross Listed Index: 85.41 JSEF: 99.30; JSE Manufacturing and Distribution Index: 93.51.

Of the 52 stocks which traded in the week, 27 advanced higher, 22 declined and 3 held firm. Wigton Windfarm Limited, TransJamaican Highway Limited and Sagicor Select Funds Limited – Financial (SelectF) were the largest traded stocks by volume for the week. 

WINNERS

Ciboney Group rebounded from its rapid decline from $2.20 to $0.22 and rallied by 309 per cent to close the week at $0.90. Even with no notable news from the annual general meeting held on Tuesday such as a buyer for the FINSAC shares, the company’s price moved several leaps higher.

Jamaica Money Market Brokers Group Limited’s (JMMBGL’s) 2016 – 7.00 per cent variable rate preference shares was the second-biggest winner as it increased by 15.22 per cent to $2.12. JMMBGL 2016 – 7.25 per cent, Key Insurance Limited, Jamaica Public Service Limited 9.50 per cent preference shares and Eppley Limited all grew by double digits during the week. 

LOSERS

JMMBGL’s 2018 – 7.25 per cent variable rate preference shares was the largest loser as it declined by 12.77 per cent to $1.23.

1834 Investments Limited also experienced a 10.19 per cent decline to close out the week at $0.97. Mayberry Investments Limited, Eppley 8.75 per cent preference shares, GraceKennedy Group Limited and Jamaica Producers Group Limited were the other losers of the week as they all declined by single-digit percentages.

Other notable moments included First Rock Capital Holding Limited’s Jamaican-dollar stock closing above its IPO price for the first time since listing in 2020. The United States-dollar version still remains 29 per cent below its listing price.

SelectF and Select MD’s net asset value marginally declined to $0.825 and $0.997, respectively.