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Al-Quds Index approaches its 2015 year end closing

2016-11-10

Sahem Weekly Trading Report (06-10)-11-2016

Away from the dilemmas in the international financial markets and what followed of sharp fluctuations in the regional financial markets, the trading of Palestine Stock Exchange PEX limited itself in its own entity that got used to, and was extended to achieve some gains following that ability of some effectible stocks to relatively have good price performance, amid a variation in the liquidity levels. However it is undoubtedly that the price movement drivers on gainers were varied, but mostly are mutual with the investment characteristic that was built since years, which thoroughly resulted in the accumulation of the shareholders’ equity on one hand and their annual yields on another hand. Within these current levels of Al-Quds Index, the index approaches its previous year end of 2015 closing, after declining during the current year below the 500 points level at the beginning of May following the ex-dividends impact and starting to rebound in the last third of June.

During the week, some significant news about the PEX and listed companies accelerated, amid a scarcity in the local political news that may be an important driver to the coming period. Most importantly was a step towards strengthening the PEX’s status on the international investment map, after proving its commitment to the highest levels of transparency, credibility and its adhesion with the best practices for the securities’ sector. Whereby, the World Federation of Exchanges (WFE) accepted the full membership application made by the PEX during its annual general assembly meeting; as a result of the long journey of developments and achievements witnessed by Palestine securities sector during the past few years.  Part of the PEX, publishing the PEX data within the WEF’s periodic publishing will contribute strongly in capturing the investment opportunities from their inceptions. On another hand, Wataniya Palestine Mobile Telecommunications announced launching the first practical experiment to test its network frequencies and make cellular calls within a very limited scope of tower strengthening in Gaza Strip. Based on the announcement, WATANIYA entered some of its special equipment and not all. Accordingly, WATANIYA posted significant gains of 5.95%, to close at the level of $0.89.

As for the blue-chips performance, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- topped the PEX when its trading contributed in 60.59% from total trading value of the market, to close at the level of JD5.10; up by 0.39%. The stock of Bank of Palestine BOP followed with transactions that contributed in 11.34% from total trading value, to achieve gains of 1.98% and close at the level of $2.57. However, with transactions weaker than the previous, the stock of the Arab Palestinian Investment Company APIC closed at the level of $1.91; up by 0.53%, through transactions worth 0.53% from the total. While, Palestine Development & Investment Company PADICO closed at $1.17 without change within transactions of 4.61% of the total market.

 


 

2017-10-12
Al-Quds Bank records net income of $9.42 million in 9M 2017

2017-10-05
Optimism in the PEX with the start of October

 

 

 
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