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Al-Quds index declines by 0.20% in the penultimate week of September

2017-09-20

Sahem Weekly Trading Report (17-20)-09-2017

The performance of Palestine Stock Exchange PEX didn’t differ this week with four trading sessions than its corresponding in the few previous weeks, whereby with the approaching end of the first nine months of 2017, the trading movement indicates anticipations for positive factors represented in an improvement in the companies’ performance for the period and achieving good profits in this routine phase. With medium liquidity levels; the investors’ expectations and behaviors- with their different types- in the PEX vary, but in all stages; expectancy towards annual yield is the preponderance based on the quarterly financial disclosures, and this grants the PEX its uniqueness and results into stability- even if gradually.

Within the significant news, Palestine Capital Market Authority PCMA announced raising the requirements for licensing the leasing companies from half million dollars to two million dollars following an increase in the leasing contracts. Whereby, the PCMA is planning to provide leasing to a range of projects, including the renewable energy projects and agricultural equipment projects, not only vehicles. On the other hand, it noted currently reviewing with the World Bank the instructions to issue Islamic Sukuk after succeeding to issue bonds and following the availability of several Islamic banks and insurance companies in Palestine. However, the PCMA has requested to invest in the PEX for what it enjoys of stability and gradual growth due to its special entity in isolating itself from any surrounding conditions on the political level and others, unlike the regional bourses which witness high price fluctuations and instability.  On the other hand, the PCMA announced licensing a new insurance company that operates with Al-Takaful system; to be the second company in the sector that operates by an Islamic system, emphasizing the importance of providing the services to all members of the community by noting that 30% of the citizens turn to religious issues for transactions.

Regarding this week’s trading,  the stock of the largest investment company by market capitalization – Palestine Development and Investment Company PADICO – topped The PEX this week in terms of trading value when recorded $4.56 million; contributing for 39.42% from the PEX’s total trading value. However, the stock closed at the level of $1.61; down by 0.62% than its previous weekly closing level. Whereby, PADICO’s stock is still leading the index for a while; where it increased by 38.79% than its closing level at the end of 2016. Moreover, the stock of the largest company by market capitalization and the highest weighted stock in Al-Quds Index – Palestine Telecommunication PALTEL –secondly topped the PEX in terms of trading value, when its trading value contributed for 23.52% from the PEX’s total trading value, to hit $2.72 million. PALTEL closed at the level of JD4.67; down by 0.85% than its previous weekly closing level. On the other hand, the stock of the largest bank by market capitalization – Bank of Palestine BOP – followed PALTEL in topping the PEX when its trading value contributed for 7.22% from the PEX’s total trading value this week, to record $0.83 million. Whereby, the stock stabilized at the level of $2.45 without any change than its previous weekly closing level. Then again, active trading was witnessed on the stock of Jerusalem Pharmaceuticals JPH for the second week respectively, to record trading value of $0.32 million; contributing for 2.81%  from the PEX’s total trading value, while, the stock increased by 0.96% than its previous weekly closing level, to close at the level of $3.14.  

 

 


 

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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