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Al-Quds index declines by 0.20% in the penultimate week of September

2017-09-20

Sahem Weekly Trading Report (17-20)-09-2017

The performance of Palestine Stock Exchange PEX didn’t differ this week with four trading sessions than its corresponding in the few previous weeks, whereby with the approaching end of the first nine months of 2017, the trading movement indicates anticipations for positive factors represented in an improvement in the companies’ performance for the period and achieving good profits in this routine phase. With medium liquidity levels; the investors’ expectations and behaviors- with their different types- in the PEX vary, but in all stages; expectancy towards annual yield is the preponderance based on the quarterly financial disclosures, and this grants the PEX its uniqueness and results into stability- even if gradually.

Within the significant news, Palestine Capital Market Authority PCMA announced raising the requirements for licensing the leasing companies from half million dollars to two million dollars following an increase in the leasing contracts. Whereby, the PCMA is planning to provide leasing to a range of projects, including the renewable energy projects and agricultural equipment projects, not only vehicles. On the other hand, it noted currently reviewing with the World Bank the instructions to issue Islamic Sukuk after succeeding to issue bonds and following the availability of several Islamic banks and insurance companies in Palestine. However, the PCMA has requested to invest in the PEX for what it enjoys of stability and gradual growth due to its special entity in isolating itself from any surrounding conditions on the political level and others, unlike the regional bourses which witness high price fluctuations and instability.  On the other hand, the PCMA announced licensing a new insurance company that operates with Al-Takaful system; to be the second company in the sector that operates by an Islamic system, emphasizing the importance of providing the services to all members of the community by noting that 30% of the citizens turn to religious issues for transactions.

Regarding this week’s trading,  the stock of the largest investment company by market capitalization – Palestine Development and Investment Company PADICO – topped The PEX this week in terms of trading value when recorded $4.56 million; contributing for 39.42% from the PEX’s total trading value. However, the stock closed at the level of $1.61; down by 0.62% than its previous weekly closing level. Whereby, PADICO’s stock is still leading the index for a while; where it increased by 38.79% than its closing level at the end of 2016. Moreover, the stock of the largest company by market capitalization and the highest weighted stock in Al-Quds Index – Palestine Telecommunication PALTEL –secondly topped the PEX in terms of trading value, when its trading value contributed for 23.52% from the PEX’s total trading value, to hit $2.72 million. PALTEL closed at the level of JD4.67; down by 0.85% than its previous weekly closing level. On the other hand, the stock of the largest bank by market capitalization – Bank of Palestine BOP – followed PALTEL in topping the PEX when its trading value contributed for 7.22% from the PEX’s total trading value this week, to record $0.83 million. Whereby, the stock stabilized at the level of $2.45 without any change than its previous weekly closing level. Then again, active trading was witnessed on the stock of Jerusalem Pharmaceuticals JPH for the second week respectively, to record trading value of $0.32 million; contributing for 2.81%  from the PEX’s total trading value, while, the stock increased by 0.96% than its previous weekly closing level, to close at the level of $3.14.  

 

 


 

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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