Durrant Pate/Contributor

Jamaica’s stock market remains in negative territory, underlining the current weakness in equities trading.

The start of the month experienced a pullback in the first week of trading with eight of the nine major indices closing in negative territory. The primary decliners were the Jamaica Stock Exchange (JSE) Select Index and the JSE All Jamaican Composite Index, which fell by 3.1% and 2.7%, respectively. 

Within the JSE Select Index, 12 of the 15 constituent stocks declined, largely driven by an 11.1% drop in the share price of TransJamaican Highway (TJH), a movement commonly observed following its ex-dividend date (April 7). Similarly, TJH’s performance significantly influenced the downturn in the All-Jamaican Composite Index. 

Additional contributors to the decline included Sagicor Group Jamaica (-4.7%); XFUND (-23.5%); West Indies Petroleum Terminal (-3.8%), and Seprod Limited (-6.2%), although there was no major news supporting these movements.

Trading softening

In contrast, the Cross Listed Index was the sole advancer, rising by 0.5%, led by Massy Holdings, the most heavily weighted stock in the index, which gained 1.7%. Trading softened with market volume declining by 8.3% to 151.42 million units.

However, total market value rose modestly by 3.1%, due to stronger demand for larger-cap stocks. Market breadth reflected this cooling sentiment with only 33 of the 127 traded stocks advancing, compared to 77 decliners and 17 that remained unchanged. 

Trading activity was concentrated with the top three stocks accounting for 67.2% of total volume. Leading the charge were TJH with 45.79 million units (27.8%), Kintyre Holdings (JA) with 37.35 million units (24.3%), and Supreme Ventures with 20.18 million units (13.1%)

Quarterly performance

In spite of this recent weak performance, the quarter ending March 31, 2026, demonstrated clear signs of resilience and renewed vigour. The Combined Index advanced by 8.2%, buoyed by strong earnings from select companies. 

Broad-based strength was evident, with six of the eight major indices recording quarter-over-quarter gains. Leading the charge were the JSE USD Index, which surged 23.6%, and the JSE Manufacturing & Distribution Index, up 16.1%. In contrast, the Cross Listed Index (-7.2%) and Financial Index (-1.8%) were the only sectors to retreat. While the market strengthened over the quarter.