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Sahem Weekly Trading Report (18-22)-12-2016
With the approaching end o the current year 2016, Al-Quds Index ended the week at the level of 528.10 points; down by 0.08% than its previous closing level and approached the closing of the year-end 2015. On the other side, the anticipation increases for the coming week that coincides with the last week of the year, to crown the results of the whole year. Historically and routinely, the last days of the year is characterized with movements regarding the liquidity -on one hand- through executing transactions and moving between the investment positions, and the price trend movements on another hand, in order to affect the investment evaluation. This week, the liquidity levels have increased compared to the few previous weeks; supported by the last trading session of the year that witnessed executing varied volume transactions.
Regarding the activity, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- topped the PEX when its transactions constituted 25.35% from PEX total trading value, after breaking its psychological price level during the week following the selling pressures, to close at the level of JD4.99; down by 1.19% than its previous closing. Accordingly, the anticipation increases regarding the company’s trading at the end of the week coinciding with the movements’ characteristics at the end of the year usually. Moreover, the trading on the stocks of the banking and financial services sector was active, whereby, the transactions of the largest bank by market capitalization- Bank of Palestine BOP- constituted 16.51% from PEX total trading value, after relatively stable price movements that are witnessed in the previous weeks, to close at the level of $2.65; up by 1.15% than its previous closing level. Regarding the stock of Palestine Islamic Bank ISBK, it stabilized at its previous closing level of $1.70 after transactions that constituted 4.21% from PEX total trading value. It is worth mentioning that ISBK records new historical levels. On the other hand, trading was active on the stock of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- in the last trading session of the week, to revive the idleness in transactions and close at the level of $1.14; down by 0.87% than its previous closing level after executing several cross transactions with high volume, to increase the company’s transactions that constituted 20.55% from PEX total trading value. Furthermore, the leading stock of the Arab Palestinian Investment Company APIC declined by 0.52% to close at the level of $1.90 after transactions that constituted 8.09% from PEX total trading value. Regarding the significant trading, the transactions of Palestine Investment and Development Company PID were active this week; constituting 19.13% from PEX total trading value, to close at the level of JD1.27; down by 2.31% than its previous closing level.
In this week, the listed companies accelerated to hold their board of directors BOD meetings to discuss their strategic business plans and projects for the next year. Whereby, the BOD of PALTEL held a meeting to approve their financial data till November 2016, its business plans and estimated budget of 2017. Moreover, the BOD of ISBK held a meeting to revise its strategic plans for the years 2017-2020 and approve the estimated budget of 2017. Furthermore, Palestine Real Estate Investment Company PRICO held a BOD meeting to approve its financial data till September 2016, the company’s plans and projects for the coming year. On the other hand, Wataniya Palestine Mobile Telecommunications WATANIYA held two BOD meetings to discuss Gaza’s project and the 3G project.