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Several transactions lift market’s transaction value

2018-12-06

Sahem Weekly Trading Report (02-06)-12-2018

In the first week of December, Al-Quds Index traded in a range that didn’t exceed 5.81 points due to a varying in the blue-chips prices’ performance during the week that witnessed different weights impact following the different companies’ market capitalizations. Whereas the liquidity indicator in Palestine Stock Exchange PEX increased significantly to $7.41 million due to executing several transactions on Palestine Telecommunication Company PALTEL and Bank of Palestine BOP. Whereas, their trading value constituted 72.80% from the PEX’s total trading value. The other transactions were slow in movement and scarce in volume. In the same context, Al-Quds Index recorded 525.30 points; to close in the red zone down by 0.35% than its previous weekly closing level.

Regarding this week’s trading, the stock of the largest bank by market capitalization – Bank of Palestine BOP – topped the PEX this week, following executing several transactions on its stocks that worth 1.46 million shares, to close at the level of $2.30; down by 0.43% than its previous weekly closing level, through transactions worth $3.99 million. Moreover, the stock of the largest company by market capitalization - Palestine Telecommunication Company PALTEL- came next, through executing several transactions on its stocks that worth 0.18 million shares, to close at the level of JD4.30; down by 0.69% than its previous weekly closing level, through transactions worth $1.40 million. In the banking and financial services sector, Palestine Islamic Bank ISBK witnessed active trading this week, when its transactions worth $0.56 million. to close at the level of $1.79; down by 1.13% than its previous weekly closing level. On the other hand, Al-Quds Bank QUDS closed upwards by 0.57% than its previous weekly closing level, to close at the level of $1.77 through transactions worth $0.32 million. On another hand, Arab Islamic Bank AIB stabilized at the level of $1.63, through transactions worth $0.21 million.

Regarding the economic indicator and according to the Palestinian Central Bureau of Statistics PCBS, The overall Industrial Production Index IPI in Palestine reached 106.60 during October 2018 with a decrease of 3.06% compared to 109.96 during September 2018 (Base Month December 2015 = 100). Whereby, IPI for October 2018 decreased due to the decrease in the activities of Mining and Quarrying by 12.27% which had a share of 4.06% of the total industry, and the activities of Manufacturing Industry by 3.04% which had a share of 83.19% of the total industry, while the activities of Water Supply, Sewerage, Waste Management and Remediation increased by 12.47% which had a share of 0.78% of the total industry, and the activities of Electricity, Gas, Steam and Air Conditioning Supply increased by 2.88% which had a share of 11.98% of the total industry.