JSE posts 11% first-half gain, matching Wall Street but split widens between main and junior boards

The Jamaica Stock Exchange (JSE) closed the first half of 2026 as one of the exchange’s strongest half-year performances since the pandemic.
The JSE Main Market ranked 40th out of 100 indices globally.  
Between January and June, the Main Market index increased 11.28 per cent, the Junior Market index fell 9.20 per cent, and the USD Denominated Equities index gained 16.12 per cent.
“The relatively balanced market breadth and interest in selected smaller-cap stocks suggest investors remain willing to deploy capital where valuations and fundamentals are compelling, even as sentiment toward the broader market remains measured,” according to wealth management firm NCB Capital Markets, in its June-ending statement to clients seen by the Financial Gleaner. 
Market capitalisation on the combined exchange stood at just over $2 trillion at the end of June, with the Main Market accounting for $1.9 trillion, the Junior Market contributing $125 billion, and the USD Equities Market valued at US$1.1 billion.
Main market: broad gains, narrow leadership
The Main Market closed June at 353,858 points. Despite the rise, the index spent four of the last five full years either flat or negative, and remains well below its all-time high of 532,325 points reached in August 2019.
The standout performer on the main board was TransJamaican Highway, which returned 73.32 per cent year-to-date to close June at $7.99. It traded higher to close at $8.49 on Friday. Carreras Limited surged 52.29 per cent year-to-date to $27.58 and also traded higher to close at $29.99 on Friday.
General Accident Insurance delivered a 43.55 per cent year-to-date gain, and Scotia Group Jamaica added 9.13 per cent to close at $58.00. Guardian Holdings, the Trinidad-based insurer cross-listed in Kingston, rose 8.73 per cent in June alone.
On the losing side, MPC Caribbean Clean Energy fell 59.50 per cent year-to-date to $19.03, while Palace Amusement fell 43.88 per cent. Jamaica Broilers Group, one of the market’s most widely held stocks, declined 21.98 per cent year-to-date.
The advance-decline ratio told the broader story: just 20 of 53 main-market stocks advanced year-to-date, against 33 decliners.
Junior Market: the other half of the story
While the main index climbed, the Junior Market moved in the opposite direction. The Junior Market Index fell to 3,088.64, shedding 312.77 points. Market capitalisation slipped to $125 billion. The advance-decline split was worse: 12 advancers against 35 decliners year-to-date.
Cargo Handlers was the standout, returning 91.04 per cent over 12 months to close at $18.55. Jetcon Corporation gained 76 per cent year-to-date, while Atlantic Hardware and Plumbing – the wholesale distributor in which Lumber Depot holds a 29.3 per cent stake – advanced 5.33 per cent to $1.58.
The decliners dominated. Kintyre Holdings fell 77.63 per cent year-to-date. Caribbean Cream dropped 42.58 per cent, FosRich declined 40.16 per cent, and CAC 2000 lost 37.73 per cent. Knutsford Express, once a Junior Market bellwether, fell 34.93 per cent to close at $7.47.
USD equities: the quiet winner
The USD Equities Market index was the best-performing of the three boards on a year-to-date basis, gaining 16.12 per cent to 246.35. TransJamaican Highway’s US-dollar listing rose 68.83 per cent year-to-date. However, eight of the ten USD-listed securities declined, and trading volumes remained thin – average daily value was just US$366,704 across the first half.
How Jamaica ranks globally
Set against global benchmarks tracked by Trading Economics, the JSE’s 11.28 per cent first-half gain placed it in the upper-middle tier of world equity markets – a creditable performance for a frontier exchange, though well behind the leaders. The Ghana Exchange up 67.5 per cent, Taiwan Exchange up 61.5 per cent, Zimbabwe up 55 per cent led the world. 
Among major developed-market indices, the Nasdaq 100 gained 16.16 per cent, the S&P 500 rose 9.32 per cent, the Dow Jones added 10.06 per cent, and Canada’s TSX climbed 11.23 per cent.  
Trading volumes
Main-market ordinary trading generated $19.86 billion in value across 158,017 transactions in the first half, a decline of 67 per cent from $60.58 billion in the corresponding period of 2025.

business@gleanerjm.com