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Al-Quds index records gains of 7.10% than its FY2016 closing

2017-09-28

Sahem Weekly Trading Report (24-28)-09-2017

Al-Quds Index balanced itself this week, trying to break the 570 points level, in which broke through in the first week of September 2017 and traded around for several weeks, to be confined to a relatively narrow price range without any noticeable price movements and close at the level of 567.80 points; slightly down by 0.38% than its previous weekly closing level. This performance came after contrast price movements for the affecting and heaviest weighted stocks in the index.  The leading stocks were solely trading with unique performance depending on the price movement drivers on one hand and liquidity drivers on another hand. It is worth mentioning that Al-Quds Index is currently trading at its highest levels in this year despite the low liquidity levels, to record gains of 7.10% than its closing level at the end of 2016, and of 6.58% than its closing level at the end of 2015, and of 10.95% than its closing level at the end of 2014.     

 

Regarding this week’s trading, the stock of the largest investment company by market capitalization –Palestine Development and Investment Company PADICO – is still leading Palestine Stock Exchange PEX, to top it by 32.68% when its transactions amounted for $2.18 million. However, the stock traded in a relatively wide range; slightly down by 3.11% than  its previous weekly closing level, to stand at $1.56. Also, the stock of the largest company by market capitalization and the highest weighted stock in Al-Quds Index – Palestine Telecommunication PALTEL – decreased by 0.43% than its previous weekly closing level, to stand at JD4.65 after transactions worth $1.41 million. It is worth mentioning that the board of directors BOD of the company will be holding a meeting on 04/10/2017, whereby, will discuss the financial results as for the end of August 2017. As for the leading stock of the Arab Palestinian Investment Company APIC, it increased by 1.03% than its previous weekly closing level, to stand at $1.97 after transactions worth $0.61 million.

 

In the banking and financial services sector, the stock of the largest bank by market capitalization – Bank of Palestine BOP – closed at the level of $2.49; up by 1.63% than its previous weekly closing level, following transactions worth $0.65 million. It is worth mentioning that the BOD of the bank will be holding a meeting on 08/10/2017, to discuss the business plan and other things. On the other hand, the stock of Al-Quds Bank QUDS stabilized at the level of $1.94 without any change than its previous weekly closing level, following transactions worth $0.30 million after trading in a relatively narrow range. In another context, trading was active on the stock of Jerusalem Pharmaceuticals JPH for the third week respectively after recording transactions worth $0.26 million, to close at the level of $3.10; down by 1.27% than its previous weekly closing level. Moreover, trading activity was witnessed on the stock of Wataniya Palestine Mobile Telecommunication WTANIYA when recorded $0.30 million, to close at the level of $1.04; down by 0.95% than its previous weekly closing level. 

 


 

2017-12-07
Al-Quds Index in the green zone despite the political instability

 

 

 
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