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Weekly Trading Report ]10-14/07 [2016
Within medium-volume and relatively far from high-volume transactions, Al-Quds Index reported gains of 1.71% this week, in which its levels above the support points in the previous weeks have been strengthened. This came at the beginning of the second half of the current year and after the listed companies had approved dividends distribution for the year 2015, along with the receding in the prices decline wave following the dividends entitlement and the start of the spontaneous price correction movement in parallel to creating the general image of the expected yields for the year. Whereby, theoretically, the stocks currently trade without the previous year’s profits, while, implicitly with the start of companies to disclose their operations results during along the current year, the investor starts approximately to expect his yield from the distribution till the end of the year. In accordance, this expectancy positively reflects the stocks’ prices after the accumulation of disclosed profits in their value. This leads to the start of new price cycle in the market that is related to some market indicators and expectations variation for each stock alone. However, the anticipation increases this period to disclose the semi-annual financial data for 2016, which affects the investors’ behavior in the market during the coming period.
The stock of the Arab Palestinian Investment Company APIC topped Palestine Stock Exchange PEX in terms of liquidity when its transactions constituted 30.77% from total trading value of the week. This follows the activity on the stock for several weeks, which is accompanied by positive gradual price movements and sometimes sharp. This week, APIC gained 4.08% when closed at the level of $1.53 to record a new highest historical price. The stock of Palestine Development and Investment Company PADICO followed when its transactions constituted 23.81% from PEX total trading value during the week, to close at the level of $1.18; up by 0.85%. Moreover, the blue-chips in the services sector- the telecommunications companies- witnessed significant price activity as well. The stock of Palestine Telecommunications PALTEL-the largest company by market capitalization- increased by 2.36%, to close at the level of JD5.20 after a decrease in the selling offers at low levels that have been trading around for the previous weeks. The transactions on the stock of Wataniya Palestine Mobile Telecommunications WATANIYA were active when reached 10.09% from total trading value, to record gains of 4.88% and close at the level of $0.86.
The stocks of the banking sector followed in terms of activity amid a variation in the final price trend. After a noticeable price stability around the support levels of Bank of Palestine BOP for several weeks, it increased by 1.20% to close at the level of $2.53 after transactions that constituted 7.68% from PEX weekly trading value. Moreover, activity was witnessed on the stocks of Al-Quds Bank QUDS and Palestine Islamic Bank ISBK which their transactions altogether constituted 5.47% from PEX total trading value, whereby QUDS declined by 0.81% to close at the level of $1.23, while ISBK increased by 2.27%; closing at the level of $1.35.