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Cohesion in Al Quds index amid difficulty to predict the near-term horizon


Weekly Trading Report [06-10/09/ [2015

Amid a continuity of a political deadlock, the heavy lack of liquidity that dominates the trading in Palestine Stock Exchange PEX since the beginning of the year has continued. Amid the declining in the liquidity flow- new or in the form of internal circulation-, the reasons of its scarcity are still related to an anticipation that is far from the typical and routine period, despite the appearing of high-volume transactions from time to time. On the other hand, it is hard to build the assumptions at this moment for a near positive horizon amidst the prevailing confusion in the internal issues of the Palestinian government. While in all cases, the PEX maintains its coherent performance without any negative drops in the prices that leads to losing the investment appetite. Over the years, the PEX passed through harsher political conditions and could dominate the consequences of those periods with the lowest damages.

During the week, the price movements of Al-Quds Index continued in its relatively narrow range that ended with a general balancing in waiting for a clearer general trend vision without any timetable. The opposite side price performance of the leading stocks had the greatest impact in the cohesion of the Index above the 480 points, which in turn this week witnessed slight decrease than the previous week, when closed at the level of 481.49 points. Regarding the liquidity, the transactions of Al-Quds Bank QUDS topped the PEX in trading value when contributed 79.85% from total trading value in this week after executing several cross transactions, in which some are institutional. QUDS recorded gains of 6.54% when closed at the level of $1.14. On the other hand, Bank of Palestine BOP – the largest bank by market capitalization- followed in terms of activity in the PEX when its transactions contributed for 8.87% of total trading value, to close at the level of $2.50; down by 0.79%.

Regarding the leading stocks, the liquidity movements on both the stocks of Palestine Telecommunications PALTEL and Palestine Development and Investment Company PADICO were significantly weak, which, thoroughly attempts to break through resistance price levels failed with the absence of a supporting momentum. In this context, PALTEL’s stock declined by 0.55% when closed at the level of JD5.47 through transactions worth of $0.27 million that couldn’t thoroughly close above its previous closing level. On the other hand, the weakness in the purchasing bids on PADICO’s stock led to unsuccessful attempts to sustain around resistance levels and close higher more points, while the stock closed in the green zone; slightly up by 0.91% closing at the level of $1.11 through transactions worth of $0.17 million.





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