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Al Quds Index in a horizontal motion amid absence of new incentives

2013-10-10

Sahem Weekly Trading Report [06 - 10/10] 2013

The majority agrees on the absence of incentives in Palestine Stock Exchange PEX during this period, which dictates inactivity in terms of liquidity and price movements. During this week, Al-Quds Index continued to horizontally move without any negative or positive signals that may stimulate a specific trend, and most signals remained neutral awaiting for new and effective incentives, perhaps most notably the financial statements of the first nine months of  2013, in which, will reach their disclosure deadline by the end of October.  Despite the calmness and the narrow movement imposed by the balance between the purchasing power and profits taking transactions -even if weak-; all indicators are positive and emphasizing that the growth opportunities exist in time dominating  the first substantial incentive that stimulus the investor"s decision" basis. This comes, especially, with maintaining coherent performance in the PEX in spite of the sharp fluctuations in the other regional markets, in addition to the fact that the majority of listed companies’ shares trade around low price levels with attractive market indicators. 

In terms of liquidity, the reasons behind its increase during this week in comparison to the previous one relies on executing an institutional transaction on the shares of Palestine Islamic Bank of one million shares in addition to executing other small, varied-sized transactions on the shares of Palestine Telecommunications, Palestine Commercial Bank and Wataniya Palestine Mobile Telecommunications. In this context, Palestine Islamic Bank ISBK’s share topped the PEX in terms of trading value when reached $1.56 million; contributing around 35.58% of the PEX’s total trading value. ISBK recorded significant gains of 6.19%, when closed at the level of $1.20. In terms of price activity, Palestine Commercial Bank PCB’s share topped the most gainers during the week by recording gains of 7.69% to close at the level of $0.70 through weak transactions of $53 thousands represented by an executed transaction between board members of the bank.

Regarding the blue-chips’ performance, the share of Palestine Telecommunications PALTEL- the largest company by market capitalization and the heaviest weighted share in Al-Quds Index- came in the second place in terms of the most active shares, when recorded trading value of $1.17 million. The share traded within price range of 1.59% from its lowest recorded price this week, to close at the level of JD5.08; slightly up by 0.59%. On the other hand, the share of the largest investment company by market capitalization- Palestine Development and Investment Company PADICO- decreased by 0.97% to close at the level of $1.02 through transactions worth of $0.30 million and within 3.00% price range from the lowest recorded price in the week. On the contrary, the share of Bank of Palestine BOP increased by 0.69%, when it ended its transactions of $0.32 million at the level of $2.90. It is worth mentioning that the investors’ anticipation will increase for the financial results disclosures of these three companies especially with PEX being closed in celebration of Al-Adha Eid holiday and resuming on Sunday 20/10/2013.    

Regarding the 9M of 2013 financial statements disclosures of the PEX listed companies; two companies disclosed their financial results until the end of the week, whereby, the disclosure momentum is expected to increase in the last 10 days of the current month after the end of Al-Adha Eid. According to the disclosed financial statements, Palestine Mortgage & Housing Corporation PMHC announced achieving net income of $0.27 million in 9M 2013 compared to a net income of $0.41 million in 9M 2012. This decrease came despite an increase in the interest on loans granted to banks and insurance premiums that contrasted not reporting gains from selling financial assets as it did in the same period of 2012.

 

 

 

 

 

 

 


 

2017-05-18
PADICO is higher than its equivalent price and the PMA is planning to issue digital currency

2017-05-16
PADICO approves distributing 5% cash dividends for the year 2016

2017-05-11
The PEX records an average PE of 11.1x in Q1 2017

2017-05-10
Manaseer Cement & Mining Company signs a partnership agreement with Sanad Construction Industries Company

2017-05-09
QUDS approves distributing 12% stocks dividends for the year 2016

2017-05-07
RSR approves distributing 7% cash dividends for the year 2016

2017-05-07
AZIZA approves distributing 18% cash dividends for the year 2016

2017-05-07
PIIC approves distributing 6% cash dividends for the year 2016

2017-05-04
Al-Quds Index increases with the end of the quarterly financial data disclosures’ season

2017-05-03
PIBC approves raising its paid-up capital to $61 million

2017-05-02
RSR reports net income of JD0.094 million in Q1 2017

2017-05-02
WASSEL posts net income of $0.14 million in Q1 2017

2017-05-02
PADICO reports net income of $4.71 million in Q1 2017

2017-05-02
AHC realizes net loss of JD0.53 million in Q1 2017

2017-05-02
ISBK posts net income of $3.04 million in Q1 2017

2017-05-02
BOP reports net income of $12.35 million in Q1 2017

2017-05-02
PID realizes net loss of JD0.01 million in Q1 2017

2017-05-02
BPC records net income of $2.92 million in Q1 2017

2017-05-02
PICO reports net income of $1.00 million in Q1 2017

2017-05-02
MIC posts net income of $0.31 million in Q1 2017

2017-05-02
JCC realizes net loss of JD0.06 million in Q1 2017

2017-05-02
JPH records net income of $1.60 million in Q1 2017

2017-05-02
GMC posts net income of JD0.25 million in Q1 2017

2017-05-02
NSC records net income of JD0.05 million in Q1 2017

2017-05-02
NCI records net income of $0.06 million in Q1 2017

2017-05-02
PRICO realizes net loss of JD0.13 million in Q1 2017

2017-05-02
ABRAJ records net income $0.08 million in Q1 2017

2017-05-02
ELECTRODE reports net income of JD0.01 million in Q1 2017

2017-05-02
PIIC records net income of JD1.70 million in Q1 2017

2017-05-02
LADAEN realizes net loss of JD 0.03 million in Q1 2017

2017-05-02
AZIZA posts net income of JD1.33 million in Q1 2017

2017-05-02
PALTEL records net income of JD18.04 million in Q1 2017

2017-05-02
AQARIYA posts net income of JD0.24 million in Q1 2017

2017-05-02
GUI reports income of $0.87 million in Q1 2017

2017-05-02
NIC posts net income of $1.54 million in Q1 2017

2017-05-02
TRUST reports net income of $1.74 million in Q1 2017

2017-05-02
TIC records net income of $0.82 million in Q1 2017

2017-05-02
QUDS posts net income of $3.94 million in Q1 2017

2017-05-02
ARAB records net income of JD0.029 million in Q1 2017

2017-05-02
PIBC posts net income of $0.98 million in Q1 2017

2017-05-02
PALAQAR reports net income of JD0.025 million in Q1 2017

 

 

 
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