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2017-11-16
Sahem Weekly Trading Report (12-16)-11-2017
In this week with four trading sessions, Al-Quds Index couldn’t end up in the green zone, to close at the level 563.25 points; down by 0.52% than its previous weekly closing level. This followed slow price movements, amid lack of positive significant news on the listed companies and the bourse in general. In terms of liquidity indicators, it was characterized with relative weakness and scarcity coinciding with the receding in investment incentives. Moreover, Palestine Stock Exchange PEX enters in dampened price status that is inclined to decline, in waiting for positive factors that are to activate the rebounding attempts.
Regarding this week’s trading, the stock of the largest investment company by market capitalization – Palestine Development and Investment PADICO – topped the PEX when contributed for 29.31% from the PEX’s total trading value, to record $0.91 million. However, the stock traded in a relatively narrow range, to close at the level of $1.54 without any change than its previous weekly closing level. On the other hand and regarding the banking and financial services sector, the stock of the largest bank by market capitalization – Bank of Palestine BOP – declined by 0.40% than its previous weekly closing level, to close at $2.48 and after transactions worth $0.35 million. It is worth mentioning that BOP opened a new representative office in Chile’s capital “Santiago”; the second representative office for the bank outside Palestine - where the bank opened its first representative office in Dubai last year. Moreover, the Arab Islamic Bank AIB witnessed active trading when it closed at the level of $1.70 without any change than its previous weekly closing level and through transaction worth $0.31 million. Furthermore, AL-Quds Bank QUDS stabilized at the level of $1.99 without any change than its previous weekly closing level and through transactions worth $0.62 million. Regarding the stock of the largest market capitalization – Palestine Telecommunication PALTEL – it witnessed a decline of 0.43% than its previous weekly closing level, to close at the level of JD4.58 after transactions worth $0.20 million.
On the other hand, the significant news of the listed companies subsided during this period. Whereas, some companies determined dates for holding their board of directors BOD meeting in order to discuss the general budget for the year 2018 and other things . In this context, the BOD of Palestine Islamic Bank ISBK held a meeting on 13/11/2017 to discuss the financial data for October 2017 and the budget for 2018. Also, the BOD of Nablus Surgical Center NSC held a meeting on 11/11/2017 to discuss the budget for the third quarter of 2017. However, the BOD of Beit Jala Pharmaceutical Company BJP will hold a meeting on 28/11/2017 to discuss the estimated budget for 2018.
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