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2019-07-18
Sahem Weekly Trading Report (14-18)-07-2019
Al-Quds Index witnessed, in this week, slight fluctuations, to close downward -as the previous weeks- by 0.13% than its previous weekly closing level; recording 525.18 points amid the continuing similarity in the liquidity levels of the previous weeks, which is still scarce and lacks institutional transactions. While the blue-chips with highest weights in the Index witnessed price performance balancing amid the partial absences of internal circulation. On the other hand, the scene is not free of preparation and anticipation- with its varying degrees and times-for all parties of the Palestinian economy in general and Palestine Stock Exchange PEX in particular until a clearer vision appears regarding the sustainable economic growth, which in turn will still drag the attention and hope together if any political development appears.
Regarding the significant news of this week, the general assembly of Ahliea Insurance Group Company AIG approved in its meeting on 18/07/2019, raising the paid-up capital from 40.00 million shares with par value of $0.25 per share to 54.00 million shares with par value of $0.25 per share through distributing 35% stocks dividends for its shareholders for the year 2018. It also approved distributing 5% cash dividends for the year 2018, to record dividends yield of 10.64% based on the price on the entitlement date. In the market, AIG witnessed active trading, to close at the level of $0.47 without any change than the previous week and through transactions that recorded $0.65 million.
Regarding the blue-chips, the stock of the largest company in the PEX by market capitalization -Palestine Telecommunications PALTEL- recorded an increase of 0.24% than its previous weekly closing level, to settle at JD4.18 after trading in a relatively narrow range and through transactions worth $0.33 million. On the other hand, the largest investment company by market capitalization- Palestine Development and Investment Company PADICO- witnessed a decrease in its price by 0.78% than the previous weekly closing level, to record $1.28 after transactions worth $0.06 million. Regarding the largest bank in the PEX by market capitalization- Bank of Palestine BOP- it also recorded a decline of 0.97% in its price, to settle at $2.04 after transactions worth $0.16 million.
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