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Al-Quds Index rebounds above 530 points amid reluctance to sales


Weekly Trading Report [08-11/12] 2013

With the approaching end of the current year 2013, the routine transactions accelerate to appear at the end of the year. Some may give a hint to what the New Year entitles, and some may reinforce the balancing of Palestine Stock Exchange PEX, while, others may emphasize the range of investors’ confidence in the attractiveness of the listed companies and retaining their investment centres, in anticipation to a supported growth by the foreign institutional liquidity. Undoubtedly, the PEX’s transactions contain hopes of a satisfactory economic data, or positive changes in the political area, or any achievements to include the PEX within regional indicators for emerging markets. In all cases, the financial and operational performance of the listed companies for 2013 is still the major dominator on the investors’ investment decisions, to monitor the turning points in the nature and essence of their investment plans for the next year.

The PEX- since the beginning of the current month-has witnessed general quietness among all of the liquidity indicators, in parallel to trading concentration on the leading shares- despite its scarcity- due to the absence of new essential incentives. But what must be bear in mind, the approach of the PEX’s investment environment from important investment incentives in the coming weeks, which are the financial results of the Palestinian listed companies that proved -without doubt- a substantial impact and motivation for the liquidity drivers supported by the disclosed figures and statements that were characterized with high competitive and profitable data that was reflected into valuable cash dividends distribution to shareholders. After the horizontal-range trading of Al-Quds Index in the previous week; this week’s trading sessions were limited to four only due to the bad weather situation. The week witnessed positive gradual price increases in Al-Quds Index, to return to trade at the end of the week above the 530 points, to overcome this physiological level that retracted from as the investors entered into the conservatism state, to rebound from and close at the level of 532.14; up by 1.10%, due to the success of the highest weighted share in Al-Quds Index- Palestine Telecommunications PALTEL- to close at an important resistance level.

Regarding this week’s trading, the share of the largest company by market capitalization- Palestine Telecommunications PALTEL- led the increase in Al-Quds Index, when recorded gains of 2.15%, to close at the level of JD5.70- a resistance barrier- through transactions worth $0.70 million. On the other hand, the share of the largest investment company by market capitalization- Palestine Development & Investment PADICO- closed at the level of $1.34; up by 1.52% through transactions worth $0.75 million. In contrast, the share of Bank of Palestine BOP- the largest bank by market capitalization- stabilized at the level of $3.06; to horizontally trade after transactions worth $0.26 million. 









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