Jamaica Stock Exchange market summary for week of May 3– 7

All of the major Jamaica Stock Exchange (JSE) indices except the JSE Manufacturing and Distribution Index (JSEMD) advanced for the week ending May 7, 2021. The JSE Index advanced by 5.27 per cent to 429,532.30 which leaves it up 8.57 per cent for the year. The other major indices closed out the week as follows: All Jamaican Composite Index: 449,056.32; JSE Select Index: 9,956.59; JSE Cross listed Index: 134.04; Junior Market Index: 3,243.93; JSE Financial Index: 108.54; JSEMD: 103.18.

Of the 109 stocks which traded in the week, 60 advanced higher, 40 declined and nine held firm. Derrimon Trading Company Limited, Sagicor Select Funds

Limited – Financial (Selectf) and Future Energy Source Company Limited were the largest traded stocks by volume for the week.

WINNERS

Guardian Holdings Limited (GHL) was the largest winner of the week as its stock price rose by 66 per cent to $968.99 which was the fastest price rise for a large cap stock on its first week of trading. Eppley Limited’s 7.50 per cent preference shares and Main Event Entertainment Group Limited were the other stocks which rose by more than 30 per cent to $9.35 and $4.70, respectively. Salada Foods Limited, Knutsford Express Limited, Medical Disposables and Supplies Limited and Fosrich Company Limited were the other major double-digit winners.

LOSERS

CAC 2000 Limited 9.50 per cent preference shares was the largest loser of the week as it declined by 29 per cent to $1.00. Margaritaville Turks Limited (JMD shares), Portland JSX Limited, Blue Power Group Limited, Cargo Handlers Limited, Consolidated Bakeries Limited and Seprod Limited were the other major losers.

GHL cross listing to the JSE saw it become the second-largest company by market capitalisation as it closed the week at $224.83 billion ahead of Sagicor Group Jamaica and Scotia Group Jamaica Limited. Selectf’s net asset value (NAV) decreased slightly to $0.834 while Select Manufacturing and Distribution’s NAV increased to $1.083.