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Sahem Weekly Trading Report [17-19/12] 2013
Al-Quds Index ended its week’s transactions that were limited to three trading sessions only due to the bad weather situation with a slight increase of 0.18%, supported mainly by the balancing in the prices directions of the leading shares. During the current month, the leading shares with the highest weights in Al-Quds Index and highest market capitalization kept on supporting the stability of the Index above levels retained by a category of investors, to form an important support for optimism to the securities’ sector parties to what might be construed in the coming period . With the approaching end of the year 2013, Al-Quds Index recorded gains of 11.63% compared to its previous year 2012’s closing, achieved by having a special entity in terms of seasonal price movements or routine links.
Within the week, the share of Palestine Telecommunications PALTEL- the largest company by market capitalization- was the most active share, when its trading value reached $2.85 million. PALTEL’s share increased by 0.18% within a range of 1.59% from its lowest recorded level during the week to close at JD5.71. The anticipations grow for PALTEL’s financial statements disclosures for the year end 2013, to form more precise image about the yearend net income and earnings per share to forecast the dividends distribution amount. On the other hand, the share of Palestine Development and Investment PADICO- the largest investment company by market capitalization- stabilized at the level of $1.34 after transactions worth $0.89 million. PADICO traded within relatively wide price range, constituting around 4.58% from the lowest price touched during the week, amid the appearance of purchasing bids in the price depth. In contrary, the share of Bank of Palestine BOP- the largest bank by market capitalization- increased by 0.33%, to close at the level of $3.07 through transactions worth $0.76 million.
In another context, the board of directors of the Palestinian Capital Market Authority approved issuing the instructions of margin trading , which included requirements and conditions for licensing the brokerage firms to operate margin trading in terms of capital requirements and technical system for information processing as well as the ongoing financial obligations that must be provided, parallel to the obligations of the market in terms of defining the permitted trading stocks on margin, in accordance with the regulations and standards adopted by the PCMA in this regard.This comes is the framework of the Palestinian Capital Market Authority’s efforts for the implementation of plans to promote and stimulate trading volumes in the stock market in cooperation with relevant parties in the securities sector, and that was including the introduction of two markets’ classifications; the primary market and the second market, in addition to the Authority"s decision to increase the margin of fluctuation for listed securities in the stock market so that the margin of fluctuation of securities in the primary market to be 7.5 % while 5% in the secondary.