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Al-Quds Index declines affected by the blue-chips

2017-01-19

Sahem Weekly Trading Report (15-19)-01-2017

Al-Quds Index differed in its performance for this week than the last two weeks, to close at the level of 527.53 points; down by 1.76% than its previous closing level, and by 0.50% than its closing level of the year-end 2016 due to a decline in the three leading stocks with the heaviest weights. On the other hand, Palestine Stock Exchange PEX witnessed scarce liquidity and relatively slow price movements amid a continuous lack in the significant news which will be able to reinforce the optimism among investors- with their different types- towards the positive anticipation for the preliminary financial data disclosures.

 

Regarding this week’s trading, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization and the heaviest weighted stock in the Index-topped the PEX when its trading value hit $1.94 million, to decline significantly by 3.42% and close at the level of JD4.80 after recording new 52-weeks low level during this week. Moreover, the stock of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- declined by 3.57%, to close at the level of $1.08 through transactions worth $0.37 million. Regarding the leading stock of the Arab Palestinian Investment Company APIC, it stabilized at the level of $1.88 without any change than its previous closing level and through transactions worth $0.84 million. In the banking and financial services sector, trading was active on the stock of Palestine Islamic Bank ISBK, to close at the level of $1.94; up by 1.04% than its previous closing level after trading in a relatively narrow range and through transactions worth $0.43 million. However and regarding the largest bank by market capitalization- Bank of Palestine BOP- it closed at the level of $2.84; slightly down by 0.35% through transactions worth $0.27 million. Furthermore, the stock of the National Bank TNB decreased by 1.06%, to close at the level of $1.87 through transactions that didn’t exceed $140 thousands.

 

On the other hand, the listed companies accelerate to hold their board of directors BOD meetings to discuss the operation results of last year and any developments in the new year. Whereby, the BOD of Nablus Surgical Center NSC will be holding a meeting on 21/01/2017. Moreover, the BOD of Bank of Palestine BOP will be holding a meeting on 22/01/2017. The BOD of the Arab Hotels Company AHC will be holding a meeting on 25/01/2017. Furthermore, both the National Insurance Company NIC and Al-Wataniah Towers Company ABRAJ will be holding BOD meetings on 25/01/2017. For the next month, the BOD of Palestine Development and Investment Company PADICO will be holding a meeting on 06/02/2017.

 


 

2017-01-19
Al-Quds Index declines affected by the blue-chips

2017-01-12
Banking stocks top the PEX in trading value and price change

2017-01-05
Al-Quds Index increases in the first week amid anticipation for the annual disclosures

 

 

 
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