The Jamaica Stock Exchange introduces the long overdue JSE Financial Index on Friday. The index will track the performance of financial services companies, listed on the exchange.
The JSE Financial Index is the JSE’s first Sector Index since 1974. The Index will commence at a base of 100 points. The index includes insurance companies, banks, microfinance companies, consumer finance companies and diverse financial services companies listed on both the Main Market and Junior Market and trade in Jamaican dollars. The JSE Financial Index will provide information on the overall performance of the financial sector.
Marlene Street Forrest, Managing Director of the JSE stated that, “Innovation is the key for survival of any company. In keeping with its 50th anniversary celebration, the JSE will be introducing new products, services and market measurements that will be of interest to all market participants. Consistent with other Indices on the market, the JSE Financial Index will be computed using the weighted average market capitalization method. The Index will be calculated in real time and reported daily, in the same manner as the other JSE’s Indices.”
“Almost 30 percent of the companies listed on the Exchange are financial companies and therefore, this is a useful Index to track this important sector”, the Managing Director stated. “We are looking to develop more sector specific Indices in the near future”, she went on to say.
The other indices of the exchange are, the JSE Combined Index, the JSE Index, the JSE All Jamaican Composite Index, the JSE Select Index, the JSE Cross Listed Index, the Junior Market Index and the JSE USD Equities Index. Up to 1974, the exchange had a utilities index that was discontinued in that year, an Industrial index and a Composite index.
New index for JSE on Friday
March 1, 2019 by
