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Several transactions lift market’s transaction value with the start of routine anticipation for the 9M 2018 financial data disclosures

2018-09-13

Sahem Weekly Trading Report (09-13)-09-2018

Palestine Stock Exchange PEX’s transactions value increased this week by 12.22% to reach $6.71 million, after  trading of 3.91 million shares, when the PEX  witnessed several transactions on some of the listed shares such as Palestine Islamic Bank ISBK, Palestine Development and Investment Company PADICO and Palestine Telecommunication PALTEL.  While Al-Quds Index increased by 0.08% than its previous weekly closing level, to close at the level of 542.29 points. On the other hand, the PEX approaches a routinely anticipation period with the end of September 2018; represented by disclosing the financial and operating results for the first nine months of the current year 2018, to give in turn the green light to vary the roles in terms of supporting and leading Al-Quds Index based on the disclosed data.

Regarding this week’s trading, the stock of the largest company by market capitalization in the PEX – Palestine Telecommunication PALTEL – topped the PEX this week when recorded trading value of $2.69 million. In turn, PALTEL closed at the level JD4.35; up by 0.93% than its previous weekly closing level, following executing several transactions through the week. Followed by the stock of the largest investment company in terms of market capitalization - Palestine Development and Investment Company PADICO - when recorded trading value of $1.20 million, to close at the level of $1.32; up by 0.76% than its previous weekly closing level. Moreover, in the banking and financial services sector, the stock of the largest bank by market capitalization – Bank of Palestine BOP -, it recorded trading value of $0.37 million, to close at the level of $2.46; down by 0.40% than its previous weekly closing level. In the same sector, Palestine Islamic Bank ISBK recorded trading value of $0.70 million, to close at the level of $1.91; down by 0.52% than its previous weekly closing level.

Regarding the significant economic news and according to the Palestinian Central Bureau of Statistics PCBS, The overall Consumer Price Index CPI for Palestine during August 2018 slightly decreased by 0.02% compared with July 2018 (by 0.67% in Gaza Strip, and by 0.32% in the West Bank, while it increased by 0.21% in Jerusalem). However, the Palestinian CPI during August 2018 increased by 0.63% compared with August 2017 (by 1.62% in Jerusalem, and by 1.05% in the West Bank, while it decreased by 0.74% in Gaza Strip). Moreover, the Palestinian CPI during the first eight months of 2018 decreased by 0.34% compared with the same period of the previous year (by 1.39% in Gaza Strip, while it increased by 0.75% in Jerusalem, and by 0.12% in the West Bank).


 

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