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Al Quds Index in a horizontal motion amid trapped liquidity

2013-10-03

Sahem Weekly Trading Report [29/09 – 03/10] 2013

Al-Quds Index continued to decline this week -with a slower pace- amid the absence of liquidity in the market. The observer of the previous period’s trading sessions finds that liquidity is the dominant of the index trends, to cause its trading- with liquidity scarcity- in a horizontal range, away from any glittered performance. The absence of liquidity in this period came due to the quarterly disclosure anticipation by the investors in addition to the preponderance of long-term investors and the conservatism of others from abandoning their investments within the prevailing prices. This resulted in general retention and contributed, in one way or another, in the scarcity of liquidity within the market. In terms of price performance and following the gradual increase in the index at the beginning of the third quarter and returning back after a brief period; blue chip companies’ shares exceeded the sharp fluctuations amid this anticipation status, but lacked the incentives to restore the upward trend since constant correction movements stressed that the market is moving in the right direction.

Within the slow movements this week, the share of Palestine Telecommunications PALTEL- the largest company by market capitalization- lacked trading activity when its trading value didn’t exceed $0.17 million, trading in a range of 1.40% from its lowest recorded level in this week, closing at the level of JD5.05 without a change. Anticipation arises on PALTEL’s first nine months of 2013’s disclosure in order to arrive into a clearer and almost precise image about the end of the year’s net income and EPS in order expect the dividends distribution amount. In the services’ companies, the trading value of Wataniya Palestine Mobile Telecommunications WTANIYA relatively rose to record $0.31 million, whereby, the share decreased by 1.92% to close at the level of $1.02.3

The share of Palestine Industrial Investment Company PIIC- the investment arm of PADICO Holding in the industry sector- topped the Palestine Stock Exchange PEX in terms of trading value through executing an institutional transaction- around 50% of its traded shares- during the week, to raise the trading value to $0.48 million. PIIC’s share increased by 2.56% to close at the level of JD1.60. On the other hand, trading on the share of Palestine Development & Investment company PADICO was characterized with slow movement when reached  $0.44 million, to close at the level of $1.03; up by 0.98% to trade within a range of 4.00% than its lowest recorded level reached during the week.

Regarding the companies’ news, announcements about holding the GA meetings accelerate in order to discuss and approve the first nine months financial statements. Within the substantial news, Grand Park Hotel & Resorts HOTEL- which is suspended from trading since years- announced holding its extraordinary GA meeting on 13/10/2013 to discuss transforming the company from a public shareholding company to a private limited company by authorizing the BOD to take the needed transforming procedures. On the other hand, the BOD of Palestine Investment Bank PIBC decided to cover the difference between the authorized and paid up capital through strategic partners.

 

 

 

 

 

 


 

2024-03-28
Weak trading with the approaching end of Q1 2024

2024-03-26
APIC recommends distributing 6.838% stocks dividends for the year 2023

2024-03-21
Al-Quds Index continues to decline amid lack of general liquidity

2024-03-18
AQARIYA records net income of $0.83 million in 2023

2024-03-18
AHC realizes net loss of JD1.67 million in 2023

2024-03-18
JCC posts net income of JD1.77 million in 2023

2024-03-18
GMC posts net income of JD0.003 million in 2023

2024-03-18
SANAD realizes net loss of $5.03 million in 2023

2024-03-18
ISBK posts net income of $4.85 million in 2023

2024-03-18
JREI realizes net loss of $0.10 million in 2023

2024-03-17
NAPCO realizes net loss of JD1.68 million in 2023

2024-03-17
APIC posts net income of $19.05 million in 2023

2024-03-17
SAFABANK realizes net loss of $0.88 million in 2023

2024-03-17
QUDS posts net income of $9.18 million in 2023

2024-03-17
NSC posts net income of JD0.80 million in 2023

2024-03-17
PIBC posts net income of $5.07 million in 2023

2024-03-17
AIB posts net income of $5.52 million in 2023

2024-03-17
ARAB posts net income of JD0.69 million in 2023

2024-03-17
ABRAJ posts net income of $1.02 million in 2023

2024-03-17
TNB posts net income of $14.40 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-14
Al-Quds Index in the red zone in Ramadan

2024-03-14
BJP posts net income of JD1.84 million in 2023

2024-03-13
RSR posts net income of JD0.33 million in 2023

2024-03-13
PID realizes net loss of JD0.08 million in 2023

2024-03-10
BPC recommends distributing 7% cash dividends for the year 2023

2024-03-10
AMLAK posts net income of $0.07 million in 2023

2024-03-07
Weak trading amid a continuation in the annual data disclosures for 2023

2024-03-05
WASSEL posts net income of $0.54 million in 2023

2024-03-05
PRICO realizes net loss of JD12.10 million in 2023

2024-03-05
UCI posts net income of $1.01 million in 2023

2024-03-03
TIC recommends distributing 15% cash dividends for the year 2023

2024-03-03
ARKAAN realizes net loss of $9.99 million in 2023

2024-03-03
PADICO realizes net loss of $19.34 million in 2023

 

 

 
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