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Al-Quds Index increases amid weak transactions

2016-12-08

Sahem Weekly Trading Report (04-08)-12-2016

Al-Quds Index ended its trading for this week in the green zone, to close at the level of 529.12 points; up by 1.17% than its previous weekly closing, after trading in a relatively wide price range amid more weighting to the positive price trends of the blue-chips and other stocks. However, the general liquidity in Palestine Stock Exchange was scarce amid lack of the general drivers and decline in the investors’ appetite that was touched through the slow transactions. On the other hand, the leading stocks acquired the majority of trading in the PEX despite its scarceness, and in parallel to the routine anticipation of the trading types for the end of the year. 

In the significant news, Palestine Investment Fund PIF announced offering 10% ( 6.00 million shares) of the capital of Sanad for Construction Industries, which is 56.66% owned by PIF and 43.33% owned by Aswaq Company for Investment Portfolios ( a subsidiary of PIF), for Initial Public Offering IPO with nominal value of $1 per share and premium price of $1.35 per share. The company works through three important sectors: the industry sector, the commercial sector and the logistics sector. Sand aims at leading the efforts of investment in industrial and production sectors of the PIF related to construction industries; especially the cement. However, the total issuance value of $14.10 million and the paid-up capital by the founders of $60.00 million will be used in financing the operation and investment activates of the company, to fulfil the company’s long term strategies; completing the cement mill and establishing strategic breakers. According to the announcement, Sanad’s shares will be listed in the PEX after getting the approvals from the PEX and Palestine Capital Market Authority. This will increase the investors’ choices and helps in supporting the market’s depth.

Regarding the trading, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- topped the PEX when its transactions constituted 33.82% from PEX total trading value, to close at the level of JD5.10; up by 0.99% than its previous closing. Moreover, the stock of Bank of Palestine BOP- the largest bank by market capitalization- followed, when its transactions contributed in 24.50% from PEX total trading value, to increase by 1.56% and close at the level of $2.61. On the other hand, the stock of the Arab Palestinian Investment Company APIC stabilized at the level of $1.91, without any change than its previous closing and through transactions that constituted 10.80% from total trading value. It is good to note that APIC held an extraordinary general assembly meeting on Thursday 08/12/2016 and approved issuing bonds worth $35 million. In contrast, the stock of the largest company in the investment sector by market capitalization- Palestine Development and Investment Company PADICO- declined by 0.87% and closed at the level of $1.14 when its transactions contributed 5.23% from PEX total trading value.

 


 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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