The stock market exhibited a positive showing last week with a 342.1 per cent increase in value relative to the week ending March 3, 2023.

Market volume amounted to 219.52 million units valued at over J$2.68 billion.

Most major indices (eight of nine) recorded gains, rebounding from the previous week where seven indices declined. Trading activity for the week resulted in all major indices advancing, excluding the USD Equities Index.

Wigton Windfarm, NCB Financial Group and Future Energy Source Company were the volume leaders with 64,299,243 units (29.25 per cent), 26,645,342 units (12.12 per cent) and 12,935,180 units (5.89 per cent). 

The decline in the USD index (-0.65 per cent) was driven by a (-2.70 per cent) week-over-week decline in Productive Business Solution’s (PBS) USD ordinary shares, the index’s heaviest-weighted stock. 

There was no news to support the decrease in PBS last week. On the other hand, the Cross-Listed (2.31 per cent) and ‘Manufacturing and Distribution’ (1.91 per cent) indices experienced the most significant advances. 

The Cross Listed Index‘s improvement was buoyed by a week-over-week increase in Massy’s share price (3.0 per cent), the heaviest-weighted stock in the index. 

The upward trend in the Manufacturing and Distribution index was driven by a 5.17 per cent week-over-week rise in the price of Seprod, a large market capitalisation stock.