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Sharp gains for Al-Quds Index amid lack in the selling offers

2015-11-26

Weekly Trading Report [22-26/11/ [2015

 

Al-Quds Index opposed the general situation to achieve sharp gains this week amid lack of the selling offers, to record the highest level since the year 2015 and close at the level of 521.93 points by achieving returns of 4.72% since the beginning of the year, after executing several transactions in Palestine Stock Exchange PEX this week. On the other hand, disappointments dominated the Palestinian Territories after the visit of United States Secretary of the State “John Kerry” for the resumption of the diplomatic talks between the Palestinian and Israeli sides which ended without any results to mention. This ensures, once again, the ability of the PEX to isolate itself from any political changes, especially the negative ones. 

Regarding this week’s trading, the stock of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- topped the PEX for the second week in row, when its transactions contributed for 24.78% from total trading value after executing two transactions on its stocks in the week. PADICO increased sharply by 8.11%, to close at the level of $1.20. The stock of the largest company by market capitalization- Palestine Telecommunications PALTEL- came in the second place in terms of the highest trading value when its transactions constituted 15.73% from total trading value of the PEX, to close at the level of JD5.62; up by 2.18%. Moreover, the stock of Bank of Palestine BOP- the largest bank by market capitalization- increased by 1.85%, to close at the level of $2.75, after transactions that contributed for 14.67% from the PEX’s total trading value. In the same sector, the trading on the stock of Palestine Commercial Bank PCB was active this week, whereby its transactions contributed for 7.18% from total trading value, to close at the level $0.90; up by 5.88%.

Regarding the substantial news on the companies of the banking and financial services’ sector, the board of directors of Palestine Islamic Bank ISBK held a meeting on 23/11/2015, whereby, approved increasing the paid-up capital by $12.50 million through a secondary subscription in mid 2016, to raise the paid-up capital to $62.50 million. It is worth mentioning that ISBK records P/BV of 1.00x. On another hand, Bank of Palestine BOP signed an agreement with the PEX to implement the tasks of “Custodian “to the investors in the PEX, whereby, the bank obtained the “Custodian” license from Palestine Capital Market Authority since the year 2014

 

 


 

2017-07-20
High liquidity level raises the market's trading volume this week

2017-07-18
PICO approves raising the paid-capital to $6 million

2017-07-18
TIC approves raising the paid-capital to $10.00 million

2017-07-13
Active Trading with the increase of semi-annual financial data anticipation

2017-07-12
LADAEN restructures itself and establishes a new company

2017-07-06
Al-Quds Index breaks through new psychological level and gains 2.99% in this week

 

 

 
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