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Al-Quds Index coheres following its last rebound

2015-04-09

Sahem Weekly Trading Report (5-9)/4/2015

The price range of Al-Quds Index has not expanded this week after rebounding from its lowest level at the end of the previous week. The price movements were slow parallel to the quasi-balancing of the leading companies’ stocks, despite achieving noticeable gains by some small-weighted stocks. This came within weak transactions topped by executing institutional transaction in the banking and financial services sector amid lack of circulation on leading stocks with varied general assembly GA meetings and dividends distribution trends. Whereby, Palestine Stock Exchange PEX enters the routinely ex-dividends trading following each blue-chips decision of dividends distribution. While price fluctuations following dividends vary based on the stock’s weight in the index, nevertheless, the common among them is the smooth price rebound afterwards given the attractive market indicators parallel to price declines.

Regarding the dividends distribution, the recommendations of the blue-chips’ board of directors were completed with the recommendation of the Arab Palestinian Investment Company APIC to the GA that will be holding a meeting on 29/04/2015, to distribute 6% cash dividends for the year 2014, to record dividends yield of 5.56%. Moreover and in the same week, the GA of Global United Insurance Company GUI approved, in its meeting on 08/04/2015, distributing 5% cash dividends for the year 2014, to record dividends yield of 2.94% according to stock’s price before holding the GA meeting. In this context, it is expected that several listed companies will be holding their GA meetings in April 2015, including: Bank of Palestine BOP, Palestine Islamic Bank ISBK, Al-Quds Bank QUDS, Palestine Poultry AZIZA, Birzeit Pharmaceuticals BPC, Jerusalem Pharmaceuticals JPH, National Aluminum and Profile “NAPCO”, Vegetables Oil Industries VOIC, Trust International Insurance TRUST and Al-Takaful Palestinian Insurance TIC.

In terms of market performance, the stock of the National Bank TNB topped the PEX when recorded trading value of 33.77% due to executing institutional transaction on the bank’s stocks, whereby recorded significant gains of 3.05% when closed at the level of $1.35. In the context of the most active stocks, the stock of the Arab Palestinian Investment Company came second this week; contributing in 14.91% of the PEX total trading value. Accordingly, APIC’s stock declined to $1.08; down by 3.57%. The leading stock- Palestine Telecommunications PALTEL- witnessed medium-volume transactions, to close at the level of JD5.23; down by 0.38%, while, the leading stock of Palestine Development and Investment Company PADICO stabilized at the level of $1.27 after medium-volume transactions.

 

 


 

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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