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Al-Quds Index rebounds upwards with the start of October

2023-10-05

 Sahem Weekly Trading Report (01-05)-10-2023

With the beginning of October, Al-Quds Index rebounded upwards by 3.29% than its previous weekly closing level, to trade above the 650 points level and close at 654.26 points. This was supported by a noticeable increase in the prices of blue-chips. On the other hand, trading was active in this week, supported by executing several transactions on the leading stocks with heaviest weights and effects in the Index. Whereby, several transactions were executed on the stocks of: Palestine Development and Investment Company PADICO, the Arab Palestinian Investment Company APIC, Palestine Real Estate Investors Company PRICO and Arkaan Real Estate Company ARKAAN. Where, with the start of this month, the leading companies entered the legal period granted to disclose their financial data for the first nine months of 2023. Whereby, the PEX grants the listed companies 45 days from the start of October, to disclose their financial and operational data for Q3 2023.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, primary estimates for GDP at constant prices showed an increase of 1% in GDP in Palestine during the 2nd quarter 2023 compared to the 1st quarter 2023, mainly in agriculture, forestry and fishing by 23%, public administration and defense, information and communication by 5% for each, mining, manufacturing, electricity and water by 4%, financial and insurance activities by 3%.  Meanwhile, there was a decrease in constructions by 6%, transportation and storage by 3%, and wholesale and retail trade, repair of motor vehicles and motorcycles by 1%.  On the other hand, it showed an increase of 3% in Palestine during the 2nd quarter 2023 compared to the 2nd quarter 2022 at constant prices, which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 2nd quarter 2023 at constant prices was $3,327 million for the West Bank and $645 million for Gaza Strip.

On the other hand, GDP per Capita for Palestine at constant prices was $769 during the 2nd quarter 2023, it showed an increase of 0.3% compared to the 1st quarter 2023. As for the West Bank it was $1,129 at constant prices during the 2nd quarter 2023, it showed an increase by 1% during the 2nd quarter 2023 compared to the 1st quarter 2023, while for Gaza Strip it was $291 during the 2nd quarter 2023, and it showed a decrease by 3% during the 2nd quarter 2023 compared to the 1st quarter 2023.