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2020-12-31
Sahem Weekly Trading Report (27-31)-12-2020
With the end of the year 2020, Palestine Stock Exchange PEX witnessed, in the last trading session of this year, price movements not only for the blue-chips, but for the other listed companies’ stocks as well. And if we exclude the off-floor transactions, the PEX trading was characterized with relative quietness and lack of normal liquidity. While 2020 closing was the lowest since 2009, to close at the level of 471.26 points at the end of the year 2020; down by 10.40 % compared to its 2019 closing, and by 0.79% compared to its previous weekly closing level. Whereby, the performance of the PEX varied over the past 10 years, to record the highest closing of the Index at 574.58 points in 2017, and the lowest at 471.26 points by the end of this year; with a compound annual growth rate CAGR of -0.35% since the year 2010. However, in another context and despite the varied behavior of investors in building their portfolios based on their investment strategies, the anticipation increases among all investors’ segments towards the disclosed annual financial statements of the listed companies, to predict the financial returns from the distributed dividends from one hand and the capital gains from another hand.
Regarding the PEX’s sectors, the banking and financial services sector recorded a compound annual growth rate CAGR of 2.79% since the year 2010, to close at the level of 128.68 points at the end of 2020; down by 13.54% than the year 2019. Moreover, the industry sector recorded a CAGR of 3.22% since 2010, to close with a decline of 3.97% in the year 2020 than 2019 after reporting 94.87 points. Also, the closing of the insurance sector witnessed a decline of 4.73% at the end of 2020 compared to 2019 following reporting 94.46 points, while it recorded a CAGR of 6.47% since the year 2010. On the other hand, the investment sector recorded a CAGR of 0.71% since 2010, to close the year 2020 at the level of 25.31; down by 8.92% than the year 2019. Furthermore, the services sector recorded a CAGR of -2.86% since the year 2010,to stand at 37.40 points at the end of 2020; down by 8.58% compared to 2019.
Within its yearly modification that coincides with the end of the year 2020, the PEX reviewed the composition of Al-Quds Index for the year 2021 and made no changes to the companies included in the old composition of the year 2020, whereby, the number of companies is still the same as the year 2020; 15 companies out of 46 listed companies that represent around 74% of the total PEX market capitalization. While the new composition consists of the same companies as the old one, from the banking and financial services sector: Bank of Palestine, the National Bank, Palestine Islamic Bank, Palestine Investment Bank and Al-Quds Bank. From the insurance sector: Ahliea Insurance Group. From the investment sector: Palestine Development & Investment “ PADICO HOLDING”, Arab Palestinian Investment “APIC”, Palestine Real Estate Investment and Union Construction & Investment. From the industry sector: Jerusalem Pharmaceuticals and Birzeit Pharmaceuticals. And from the services sector: Palestine Telecommunications, Palestine Electric and Wataniya Palestine Mobile Telecommunications.
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