The Palestine Security Exchange continued to increase to its highest limits in a single trade session yesterday for the second consecutive day, within a great demand for shares, specially the leading shares. There is a clear indication that Investors are to retain their shares expecting a further increase in its value due to the optimism towards the new government to take practical actions to control security and lift up the political and financial sanctions.
Al-Quds Index reached to 20.61 points in the trading session yesterday with a gain of 14.33 points within a two-day period. This reached a Palestinian market capital of around 170 million dollars compared to its Market value of last Thursday’s trading. The market observed large volume on stock trading in the past two days, especially for PADICO and PALTEL shares, both company’s stocks were traded below its Market value. The trading value totaled to 2.32 million JOD, which is almost equivalent to the previous session.
Dr. Abu Libdeh is expecting a boom in the market due to market demand and the expected favorable results and the increase of stock prices.
On the other hand, financial analyst and expert Dr. Adnan Abu humus, the head of the Accounting Department in the Faculty of Economics and Commerce at Beirzet University stated that,” The political development we’ve noticing in the forming of Dr. Fayyad’s new government which is recognized by the international community and also by the United States, promises to lift the economic and financial sanctions and possible release of Palestinian tax revenues that is withheld by Israel. All this somehow reflected in a positive way on the overall increase in demand for shares, especially for large leading shares.”
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