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Al-Quds Index boosts its gains and closes above the 500-points level

2016-06-16

Sahem Weekly Trading Report  ]12-16/06 [2016

Al-Quds Index continued its gradual increase for the fourth week in a row, to end the week in the green zone, once again, and with a good increase percentage to close above the 500-points level which has abandoned since the beginning of May; affected by the dividends distribution of the listed companies. During the week, the price range of Al-Quds Index widened to 1.43%, while closed at the level of 501.86 points; up by 1.02%. Regarding the liquidity levels, the institutional transactions dominated the market, to raise the trading value side by side to the relative activity of the effected stocks.

The positive effect of the gainer stocks in Al-Quds Index varied during the week. While the companies’ stocks with the small and medium market capitalization supported the increasing in Al-Quds Index too, side by side to the leading stocks with heavy weights. Regarding the most active stocks and their effects, the stock of the Arab Palestinian Investment Company APIC topped Palestine Stock Exchange PEX’s transactions when constituted 45.03% from the market’s total trading value following executing several institutional transactions on APIC’s stocks; the largest was a transaction worth 2 million shares sold by Palestine Investment Fund PIF for several investors, in which its stake decreased to 17.17% in the company. APIC recorded significant gains of 6.45% to close accordingly at the level of $1.32 amid noticeable trading activity besides the large deals. The stock of the Arab Hotel Company AHC followed, to constitute 18.04% from the PEX’s total trading value of the week. This followed executing an institutional transaction worth 2.43 million shares, whereby, Aswaq for Investment Portfolio- a subsidiary of Palestine Investment Fund PIF- purchased the stakes of board and representatives’ members in the company, to raise its stake to 25%. Accordingly, AHC closed at the level of JD0.72; up by 4.35%. On the other hand, the stock of Palestine Development and Investment Company PADICO followed when its transactions constituted 16.01% from total market value, to record gains of 4.46% and close at the level of $1.17, while the price movements on PADICO were rapid after recession in the selling offers on the previous low prices. Undoubtedly, PADICO is facing new resistance and important levels around its current closing price. The stock of Palestine Telecommunications PALTEL followed when its transactions constituted 11.29% from total PEX’s trading value, to stabilize and close at the level of JD5.05. PALTEL’s stock is considered the heaviest in the PEX, whereby, its new resistance levels drag the attention if the selling offers recede around the current levels.

Regarding the substantial news of the listed companies, Palestine Islamic Bank ISBK announced extending the secondary subscription period to 14/06/2016 until 27/06/2016.  Within this extension, the shareholders who subscribed during the first phase of subscription from 02/05/2016 to 01/06/2016 will be able to subscribe to total shares amounting to 2,163,806 shares.   In the case of surplus, pro-rata allocation will be applied, to be added afterward to the shares subscribed in the first phase.  

 


 

2017-04-30
VOIC approves distributing 60% cash dividends for the year 2016

2017-04-30
Acceleration in the quarterly disclosures’ pace and dividends distribution momentum

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
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