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Variation in the performance of blue chip and stability in the Al-Quds Index


Sahem Weekly Trading Report [08-12/06[2014

Within a varied market performance for the heavy weighted listed companies, Al-Quds Index stabilized at the end of the week through transactions that increased than its corresponding in the previous week after executing institutional transaction on the shares on Palestine Investment Bank PIBC that exceeded $5 million, to record total PEX trading value of $8.62 million. During the trading sessions, most leading shares tested resistance levels that have touched during the previous week, whereby, some shares succeeded to break through these levels and converted them to support points, while other shares haven’t succeeded due to the cumulating of small investors selling offers. This period is characterized with general incentives deadlock, as a result of non-confluence of any political and economic developments, in addition, to the approaching of Ramadan Holy Month by the end of June 2014 that comes in parallel to the end of H1 2014 period and what follows of semi-annual financial statements disclosures.

The share of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- witnessed significant and distinguished market performance within price jumps that led to gains worth 3.80%, whereby, the share ended its transactions that recorded a percentage of 24% from total PEX trading value at the level of $1.64, to break through important resistance barriers amid a lack of selling offers. It is worth mentioning that PADICO’s share trades at a level below its recorded book value, while, optimism resounds for the financial performance of the company with the enhanced profitability margins of the pervious quarters, and with being the ideal partner and greatest beneficiary of the economic initiatives projects that are designed for Palestine through its subsidiaries and wide investments. Regarding the share of Palestine Telecommunications Company PALTEL- the largest listed company in terms of market capitalization- , it witnessed relative medium- volume trading, to record a percentage of 10.58% from the PEX’s total trading value in the week, to close at the level of JD5.56; slightly down by 0.54%, following selling pressures from small investors. On the other hand, the board of directors BOD of the company approved its financial results for April 2014 during its meeting on 09/06/2014.

Far from the PEX performance, the listed companies continue to hold their general assembly GA meetings to approved dividends distribution for the year 2013. In this context, the GA of Dar Al-Shifa’s For Manufacturing of Pharmaceuticals PHARMACARE approved distributing 8% cash dividends, to record dividends yield of 2.10%. The GA of Palestine Investment Bank PIBC approved distributing 2.73% cash dividends and 3.77% stock dividends for the year 2013. As for the end of the week, 22 listed companies approved distributing cash dividends worth $148.36 million, to record dividends yield of 5.90%, compared to $126.84 million for the year 2012 with a dividends yield of 6.4%. This decrease in dividends yield came due to the significant enhancement in market capitalization for the year 2013 compared to the year 2012, while, the cash dividends distribution increased by 17% between the two years. Moreover, 4 companies distributed stock dividends for the year 2013- worth $23.07 million.

Regarding the substantial news of the listed companies for the week, the BOD of Palestine Securities Exchange Company PSE- the PEX operator- held a meeting to discuss the listing and trading procedures of the bonds; a prelude to create bonds market in Palestine to increase the choices for investors. Bonds, in general, are debt securities used by the companies and governments to finance their projects with good yield to maturity and acceptable risk. 









Al-Quds Index in a narrow range with the approaching end of 2022

The PEX records average PE of 12.4x and average P/BV of 1.51x in 9M 2022



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