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Al-Quds Index increases in the last week of March

2025-03-27

 Sahem weekly trading report (23-27)-03-2025

In the last trading week of March prior to Eid Al-Fiter Holiday and with the approaching end of the first quarter of the year 2025, Al-Quds Index witnessed an increase in its price after trading in a relatively narrow range, to close in the green zone. On another hand, Palestine Stock Exchange PEX witnessed medium-volume transactions that were raised by executing several transactions on the stock of Palestine Development and Investment Company PADICO of around 7.00 million shares, and a transaction of 0.65 million shares on the stock of Jerusalem Real Estate Investments JREI.  In another context and with the increase in dividends’ proposals and the expectations of the returns’ achievement, which in return enhanced the reinforcement of the investment feasibility in the PEX, the calmness in the PEX may be justified with the decline in the general incentives, the routine trading of the Holy month of Ramadan and the political instability. Regarding the investors’ behavior, it is mainly ruled by the variation in the financial expected return for the investment selected period, which in turn creates the price variation with its different levels in this period.

Regarding the significant news of this week, the listed companies continued to raise recommendations regarding distributing dividends to the shareholders for the year 2024. In this context, the board of directors of Al-Takaful Palestinian Insurance Company TIC proposed to the general assembly, which will be holding a meeting on 08/04/2025, distributing 15% cash dividends for the year 2024. Also, the board of directors of Al-Quds Bank QUDS raised a recommendation to the general assembly, which will be holding a meeting on 30/04/2025, to distribute 10% cash dividends. It also recommended distributing 5% stocks dividends for the year 2024, to raise the paid-up capital from $105.00 million to $110.25 million.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, primary estimates showed a decrease of Gross Domestic Product in Palestine by 1% during the 4th quarter of 2024 compared to the 4th quarter of 2023, mainly in construction by 15% in Palestine (14% West Bank, 64% Gaza Strip), services activity by 11% (9% West Bank, 27% Gaza Strip), financial and insurance Activities activity by 5% (5% West Bank, 73% Gaza Strip).  GDP for the 4th quarter of 2024 was $2,770 million for the West Bank and $80 million for the Gaza Strip. GDP per Capita for Palestine was $539 during the 4th quarter of 2024, which showed a decrease of 3% compared to the 4th quarter of 2023. As for the West Bank, it showed a decrease of 1% compared to the 4th quarter of 2023, while Gaza Strip showed a decrease of 42% compared to the 4th quarter of 2023.