Durrant Pate/Contributor

After two consecutive weeks of gains, Jamaica’s equities market has reversed course, with all nine indices closing lower in trading last week.

The main Jamaica Stock Exchange (JSE) Combined Index fell 1.0%, largely influenced by a 16.1% drop in A.S. Bryden & Sons (ASBH). This weak performance also weighed on the Manufacturing & Distribution (M&D) Index, which was the week’s biggest loser, falling 2.4%. 

Within the sector, Wisynco Group (-4.3%) and Caribbean Cement Company (-4.0%) also contributed to the downward trend. While there was no news to support Wisynco’s decline, Carib Cement’s fall-off likely stemmed from its FY2025 earnings report, which showed a profit dip due to high maintenance costs earlier in the year. 

Carib Cement contraction

Despite a contraction in full-year earnings, Carib Cement’s fourth-quarter performance demonstrated resilience with a 4.0% uptick, underpinned by robust revenue momentum. The management is anticipating a fundamental earnings recovery in the upcoming fiscal year, catalysed by large-scale reconstruction efforts following Hurricane Melissa. 

The JSE Cross Listed Index slipped 1.3% with all four constituent stocks declining. The 2.8% decline in Guardian Holdings was the primary drag. This price movement contrast the company’s underlying performance, as Guardian recently reported a 80.0% jump in annual earnings.

Trading activity on the JSE weakened, with losers outpacing winners, and both market volume and market value traded declined when compared to the prior week. Market volume totalled 156.34 million units, reflecting a 40.4% week-over-week decline, while the value of units traded went down by 22.5% to J$646.66 million. 

Of the 128 stocks that traded, 45 advanced, 63 declined, and 20 held firm. Trading concentration remained relatively unchanged, as the top three volume leaders accounted for 49.14% of total market activity, broadly in line with the previous week. 

The volume leaders were R.A. Williams Distributors with 47.17 million units (29.9%), TransJamaican Highway with 16.39 million units (10.34%) and Kintyre Holdings with 14.13 million units (8.94%).