For the second consecutive week, the majority of the local stock market indices advanced (7 of 9) last week with gains in the Junior Market Index outpacing the other indices.

The junior market gained 3.10% followed by the All Jamaican Composite Index with 2.96%. The Junior Market appreciation was led by price appreciations in the 6th and 2nd most heavily weighted Junior Market stocks by market capitalisation—Dolla Financial Services (+8.66%) and Fontana  (+5.13%). 

For the All Jamaican Composite, increases in large market capitalisation stocks including Sagicor Group Jamaica (3.17%), NCB Financial Group (1.995), and Barita Investment (3.08%) contributed to the weekly gain. 

On the other hand, the USD Equities Index (-0.67%) and the Cross-Listed Index (-0.04%) declined week-over-week

The decline in the USD Equities Index was largely driven by a week-over-week decline in A.S. Bryden & Sons Holdings Limited USD (-10.04%), while a price decline in Massy Holding Ltd. (-2.31%) the largest market capitalisation stock for the Cross-Listed Index influenced the index’s performance. 

There was no company-specific news for the named companies to support the price movements. Last week’s overall market activity resulted from trading in 126 stocks, of which 86 advanced, 33 declined, and 7 traded firm. 

Market volume amounted to 182.99 million units valued at over J$2.81 billion, reflecting a 30.9% decrease in volume and a 108.1% increase in value relative to the previous week. 

TransJamaican Highway, NCB Financial Group and Wigton Windfarm were the volume leaders with 33.44 million units (18.20%), 29.89 million units (16.26%), and 20.59 million units (11.21%), respectively.