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Sahem Weekly Trading Report (02-05)-01-2017
The first four trading sessions of the year 2017 were not characterized with any quality, whereby, the liquidity levels in Palestine Stock Exchange PEX are still scarce, and the price movements are still slow amid a relative quietness among the investors with their different types. Despite the varied behavior of investors in building their portfolios based on their investment strategies, the anticipation increases among all investors’ segments towards the disclosed annual financial statements of the listed companies, to predict the financial returns from the distributed dividends from one hand and the capital gains from another hand.
During the week, Al-Quds Index touched price levels that has abandoned since the first quarter of the year 2016, to close at the level of 535.12 points; up by 0.94% than its previous closing level. On another hand and during this week, one listed stock’s performance didn’t exceed any other within a receding in the substantial news on the companies that may increase the intrinsic value of their stocks. However, the lack of trading in the PEX may be attributable to anticipating the annual financial data disclosures of 2016, whereby, the PEX grants the listed companies 45 days since the end of the year to disclose their preliminary financial results. On the other hand, the biggest challenge is now structured around accessing liquidity with variable resources, objectives and sizes to create new momentum and break through new historical levels, to preface the gradual growth in the market capitalization as healthy corrective movements in the capital market.
Regarding this week’s trading, the stocks of the banking and financial services sector constituted leverage for Al-Quds Index. The stock of Palestine Islamic Bank ISBK witnessed a fiery growth by 7.60%, to close at the level of $1.84 after transactions worth $0.55 million. Moreover, the stock of the largest bank by market capitalization- Bank of Palestine BOP- increased significantly by 3.77%, to close at the level of $2.75, after trading in a relatively wide range, to record transactions worth $0.55 million. Also, the stock of Al-Quds Bank QUDS increased by 3.33%, to close at the level of $1.24, through scarce transactions that didn’t exceed $90 thousands. On the other hand, trading was active on the stock of Al-takaful Palestinian Insurance Company TIC, to close at the level of $3.45; down by 4.96% than its previous closing level, after transactions worth $0.52 million. Regarding the leading stocks, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- stabilized at the level of JD4.98 without any change than its previous closing level, and through transactions worth $0.48 million. On the other hand, the stock of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization declined by 0.86%, to close at the level of $1.15, after transactions worth $0.09 million. It is worth mentioning that PADICO’s board of directors will be holding a meeting on 06/02/2017.