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Active price movements in the stock market

2016-09-22

Sahem Weekly Trading Report (18-22)-09-2016

Apart from random fluctuations in the regional stocks markets that are associated with the global financial markets and oil prices mostly, price movements in Palestine Stock Exchange were characterized with positive activity this week, which in turn is associated with the fundamentals of each company separately. Price ranges of leading shares varied based on the degree of anticipation for growth factors. As obvious to the observer, the current month of September is of much importance with the approach of the companies’ announcements of financial results for the third quarter of this year, because of their ability to boost the price jumps to chart the trend of the market until the end of the year.

Despite the different and varied investors' motives in Palestine Stock Exchange, but the current recorded price levels by the companies’ stocks are considered attractive to buy given the competitive reported market indicators after the accumulated profits over the first nine months. Basically, all the elements of the market are waiting for new data to be a foundation stone for the continuation of a gradual climb in Palestine Stock Exchange, which in turn also needs new liquidity with a leverage nature to support the desired price momentum. This week, the pace pf liquidity indicators for blue chips or other companies was not much of a difference, and institutional transactions did not stand out. Traded companies were characterized with solo performance according to investors’ concentration.

In terms of the week trading, Palestine Development and Investment Company PADICO – the largest investment company by market cap- topped the market by 39.27% of the total value of traded stocks. The stock declined by a slight rate of 0.83% and closed at the level of $1.20, despite the widening price range during the trading sessions in both directions compared with the previous weekly closing. In another context, the Board of Directors will be meeting on 26/09/2016. Palestine Islamic Bank ISBK came second, when the value of its dealings amounted to 11.25% of the total. While the stock lost during the week by 4.71% when finished the last trading session at the level of $1.62 after it had achieved remarkable gains in the previous trading week. In the list of activity, transactions of the Arab Palestinian Investment Company APIC accounted for 10.86% of the value of traded shares in a liquidity pace that is less than the former. However, the stock closed up by 1.14% at the level of $1.77, and recorded during the week a new historical high at $1.80. the stock of Palestine Telecommunication Company PALTEL -  the largest company by market cap-  came after in the trading when accounted for 9.69% of the market, in which the price range expanded significantly, as it closed slightly down by 0.19% at the level of JD5.19.