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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.

 

 

 

 

 

 

 


 

2021-02-25
The PEX records average PE of 16.6x and average P/BV of 1.10x at the end of 2020

2021-02-25
VOIC recommends distributing 50% cash dividends for 2020

2021-02-24
BPC proposes distributing 2% stocks dividends and 15% cash dividends for the year 2020

2021-02-24
The end of the legal granted period to disclose the prelimanry financial data for 2020

2021-02-22
MIC proposes 8.27% cash dividends for the year 2020

2021-02-21
Al-Quds Index in the red zone and a momentum in the significant news

2021-02-16
NIC proposes distributing 15% stocks dividends and 22.5% cash dividends for the year 2020

2021-02-16
JCC posts net income of JD2.33 million in 2020

2021-02-16
OOREDOO posts net income of $7.54 million in 2020

2021-02-16
PRICO realizes net loss of JD3.57 million in 2020

2021-02-16
PIIC posts net income of JD5.41 million in 2020

2021-02-16
AIB posts net income of $8.01 million in 2020

2021-02-16
PIBC posts net income of $3.27 million in 2020

2021-02-16
LADAEN realizes net loss of JD0.01 million in 2020

2021-02-16
NCI posts net income of $0.80 million in 2020

2021-02-16
WASSEL posts net income of $0.17 million in 2020

2021-02-16
MIC posts net income of $1.28 million in 2020

2021-02-16
JPH posts net income of $3.96 million in 2020

2021-02-16
ARAB posts net income of JD0.54 million in 2020

2021-02-16
PSE posts net income of $0.40 million in 2020

2021-02-16
PID realizes net loss of JD0.83 million in 2020

2021-02-16
BPC posts net income of $7.24 million in 2020

2021-02-16
BJP posts net income of JD0.75 million in 2020

2021-02-16
RSR posts net income of JD0.26 million in 2020

2021-02-16
NSC posts net income of JD0.49 million in 2020

2021-02-16
PEC posts net income of $9.38 million in 2020

2021-02-16
GMC posts net income of JD0.07 million in 2020

2021-02-16
AZIZA posts net income of JD4.57 million in 2020

2021-02-16
AQARIYA posts net income of $0.96 million in 2020

2021-02-16
AHC realizes net loss of JD2.99 million in 2020

2021-02-16
AIG posts net income of $0.76 million in 2020

2021-02-16
TIC posts net income of $2.22 million in 2020

2021-02-16
PALTEL posts net income of JD43.04 million in 2020

2021-02-16
BOP posts net income of $22.88 million in 2020

2021-02-16
PADICO posts net income of $5.07 million in 2020

2021-02-16
NIC posts net income of $7.81 million in 2020

2021-02-16
TNB records net income of $0.31 million in 2020

2021-02-16
QUDS reports net income of $10.90 million in 2020

2021-02-15
GUI reports net income of $2.33 million in 2020

2021-02-15
ISBK posts net income of $11.17 million in 2020

2021-02-15
JREI realizes net loss of $0.04 million in 2020

2021-02-15
PALTEL proposes distributing 30% cash dividends for the year 2020

2021-02-15
VOIC posts net income of JD6.23 million in 2020

2021-02-14
ABRAJ posts net income of $1.28 million at the end of 2020

2021-02-14
APC posts net income of JD0.87 million at the end of 2020

2021-02-14
UCI posted net income of $1.20 million at the end of 2020

2021-02-11
A decline in the Index in anticipation for the next week

2021-02-10
TRUST proposes distributing 10% cash dividends for the year 2020

2021-02-04
Al-Quds Index declines and the start of the annual disclosures acceleration

2021-02-02
NAPCO posts net income of JD0.007 million at the end of 2020

2021-02-01
APIC records net profits of $24.65 million at the end of 2020

 

 

 
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