More than $2 trillion wealth on Jamaica’s stock market

The Jamaica Stock Exchange ended last year on a record wealth capitalisation of $2.1 trillion. $1.9 billion of this amount reside in the main market stocks, and $151 billion in junior stocks.

This wealth capitalisation was because of the level of activity on the market over the past year.

Twelve companies joined the JSE in 2019. Most of the listings were large main market companies which reflected a shift towards larger capitalised entities instead of smaller junior market listings.

In 2019, the main market increased by more than 120,000 points or 34 per cent to close the year at 509,916 points. The junior market closed up 3.15 per cent at 3,246 points, and the USD Index gained nearly 42 per cent to close at 226 points.

Eleven stocks made triple-digit gains on the Jamaica Stock Exchange, JSE, last year, and the market racked up a new record having topped 500,000 points for the first time.

In addition to the triple-digit performers, more than 20 stocks made gains above 10 per cent. The JSE combined market now comprises more than 90 listed and cross- listed ordinary stocks, and about two dozen preference stock listings.

Market analysts expect stocks to maintain vibrancy in 2020, given pending and expected listings and investor interest in equities.