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Al-Quds Index stood still with the end of May

2024-05-30

 Sahem Weekly trading report (26-30)-05-2024

With the end of May, Al-Quds Index stood still without any significant change, to close at the level of 537.50 after trading in a relatively narrow range. This followed a lack of purchasing bids momentum around the levels witnessed by some stocks in the previous period. However and despite executing some institutional transactions from time to time, the trading in Palestine Stock Exchange PEX has been scarce, weak and lacked the price trending for a period of time, parallel to entering expected routine periods due to the dividends distribution or financial data disclosures or the continuous aggression on Gaza Strip.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the Consumer Price Index (CPI) decreased by 5.42% in April 2024 compared to March 2024 in Gaza Strip, despite that the price level for all basic commodities still extremely higher than before the Israel aggression in Gaza Strip, due to that consumer price index record 1.91% decrease in Palestine, despite its increase in the West Bank by 0.45% and by 0.44% in Jerusalem. On the other hand, the Palestinian CPI during April 2024 increased by 33.54% compared with April 2023 (153.32% in Gaza Strip, 4.20% in Jerusalem, and 2.53% in the West Bank).

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS as well, the overall Producer Price Index (PPI) for Palestine with its base year (2019) reached 139.00 in April 2024, as it sharply decreased by 5.04% compared to March 2024. The decrease of PPI for April 2024 were traced back to the decline in the prices of the following major activities compared to the previous month: agriculture, forestry and fishing by 11.05%, electricity, gas, steam and air conditioning supply by 1.45%, manufacturing by 0.15%, While, mining and quarrying had no change. On the other hand, water supply; sewerage, waste management and remediation activities increased by 0.39%.