Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Al-Quds Index rebounds from its lowest level since October 2013

2015-04-02

Sahem Weekly Trading Report (29/03-02/04)-2015

Following the spontaneous price declines of the heaviest weighted stock in Al-Quds Index in the beginning of the week after approving the dividends distribution, the index touched low levels approximating the 470 points, parallel to the variation in traders’ interests during the routine phase of holding the general assembly GA meetings. The declines receding of the leading stock- PALTEL- had the greatest impact to the rebounding of Al-Quds Index from its lowest level since October 2013, to close in the green zone after gains of 2.67%. Moreover, the increases in the other leading stocks with heavy weights, contributed in returning Al-Quds Index and maintaining it without breaking any new support level, whereby if broken, would become a main psychological factor to the investors.

 

During the week, the stock of Palestine Telecommunications Company PALTEL- the largest company in terms of market capitalization- increased by 2.94%, to close at the level of JD5.25 after medium-volume transactions worth $0.56 million. Furthermore, the stock of Palestine Development and Investment Company PADICO- the largest investment company in terms of market capitalization- increased by 0.79%, to close at the level of $1.27 after transactions worth $0.78, leading the stock to top the trading value of Palestine Stock Exchange PEX by 29.66%.  One of the major substantial issues on PADICO’s transactions was the purchasing of the Arab Bank Group- PADICO’s board of directors’ member- shares in the company through several trading sessions in the week. The Arab Bank purchase transactions constituted a supportive factor for the stock’s non-declining from specific levels that are considered important supportive levels. Moreover, the stock of Bank of Palestine BOP- the largest bank in terms of market capitalization- recorded gains of 6.18%, to close at the level of $2.92 after transactions worth $0.46 million. 

 

The stock of the National Bank TNB witnessed active trading this week when recording $0.26 million; increasing by 4.80%, to close at the $1.31 level. On the other hand, the listed companies continue to hold their general assembly GA meetings to approve the board of directors’ recommendations regarding the dividends distribution for the year 2014. The GA of the National Insurance Company NIC approved the BOD recommendation to distribute 15% cash dividends for the shareholders as for 26/03/2015, payable from Sunday 05/04/2015. Then again, the inventors’ anticipation regarding holding the GA meetings of the leading companies that haven’t held them yet, like PADICO and BOP that have proposed dividends distribution, increased, while, the investors’ behavior around the date of dividends entitlements stays on the agenda of specific segments among them.

 


 

2017-09-20
Al-Quds index declines by 0.20% in the penultimate week of September

2017-09-14
Medium liquidity with the start of routine anticipation for the 9M 2017 financial data disclosures

2017-09-07
A transaction on the stocks of PALTEL raises the liquidity levels this week

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013