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Al-Quds index continue rising and the losses in the Arab stock markets aggravated

2009-01-25

The main index of the Palestine Securities Exchange rise last week for the fourth week in a row, to be the first between the two indices that achieved gains among the 12 Arab markets, while the remaining ten markets suffered severe losses.  Al-Quds index closed last week"s transactions at the level of 490.90 points rising by 19.39 points (%4.12) to earn %11 since the beginning of this year. The index reached its peak on Monday of last week, over 508 points; that is the highest level since November 12 last, driven by particularly large rise in the services sector index, which gained by7.32%. This was accompanied with a marked increase in the volume of activity, as the shares traded increased by %154.33 to reach an average of 775.5 thousand shares per day last week from about 305 thousand shares per day in the previous week, while average trading value rise by %156.32 to reach $2.4 million from about $933 thousand in the previous week. In total, the market vouched 2640 transactions last week that included about 3.87 million shares that valued approximately $ 12 million, compared with the 1413 transactions in the previous week including about 1.50 million shares that valued around $ 4.6 million. Among the 28 companies that were traded last week, 14 companies witnessed an increase and 5 companies witnessed a decrease while the 9 remaining companies experienced no change in their closings. In aggregate, the gains in the PSE over last week"s reached $73.6 million, bringing its gains since the beginning of the year to around 279 million dollars. The market capitalization at the end of last week reached about 2.304 billion dollars, from about 2.230 billion dollars at the end of trading of the previous week, and from about 2.025 billion dollars at the end of trading in the year of 2008.