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2017-12-14
Sahem Weekly Trading Report (10-14)-12-2017
The Palestinian listed companies witnessed this week a start of a new price trend supported by a relatively refreshing liquidity momentum after executing several institutional transactions during the week. Whereby, Al-Quds Index increased by 1.44% than its previous weekly closing level, to record 568.17 points after trading in a relatively wide range. Moreover, within the end of 2017, increasing anticipations among all categories of investors and observers for the upcoming last trading sessions of the year appear with cautious moves towards the year 2018 after emphasizing the positive vision of Palestine Stock Exchange PEX and its development on an annual basis, in line with its distinguished entity and ability to isolate itself from any political and economic developments.
Regarding the week’s active trading; executing an institutional transaction on the stock of Palestine Industrial Investment Company PIIC - a subsidiary of PADICO Holding – of 4.90 million shares led the trading value to increase significantly. This followed transactions of $20.01 million; to contribute for 70.14% from the PEX total trading value, and top the PEX in terms of trading value this week. PIIC traded in a relatively narrow range; up by 2.15% than its previous weekly closing level, to record JD2.85. Moreover, the stock of Birzeit Pharmaceuticals BPC secondly topped the PEX in terms of trading value when its transactions contributed for 12.01% from the total PEX trading value, to record $3.42 million this week. This followed executing an institutional transaction of 0.68 million shares on the company’s stocks, to close at the level $5.40; up by 5.88% than its previous weekly closing level. Also, executing two institutional transactions of 0.62 million shares on the stock of Palestine Islamic Bank ISBK caused an increase in the stock’s trading value to $1.39 million, to close at the level of $2.06; up by 0.49% than its previous weekly closing level.
Regarding the Blue-chips, the stock of the largest bank by market capitalization – Bank of Palestine BOP – increased by 3.59% than its previous weekly closing level, to record $2.60 through transactions worth $1.06 million. On the other hand, the stock of the largest company in the PEX in terms of market capitalization – Palestine Telecommunication PALTEL – stabilized at the level of JD4.55 without any change than its previous weekly closing level, after trading in a relatively narrow range and following transactions worth $0.26 million. Moreover, the stock of the largest investment company by market capitalization – Palestine Development and Investment Company PADICO – closed at the level of $1.50 without any change than its previous weekly closing level and after transactions worth $0.39 million.
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