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Lack of liquidity dominates the market at the end of February 2019

2019-02-28

Sahem Weekly Trading Report (24-28)-02-2019

At the end of February, Al-Quds Index still maintains its increasing -if being slight-, despite the domination of lack of liquidity- if we exclude the institutional transactions- on Palestine Stock Exchange PEX’s trading for a period of time, to close at the level of 541.18 points; up by 0.004% than its previous weekly closing level. However, with the entry of the annual routine price cycles following the financial data disclosures and dividends distribution trends ‘announcements, the investors change their positions of the most active stocks. Despite this, the investors’ appetite is still under the liquidity’s domination. Whereby, it cannot be hidden from the observer that the PEX needs foreign and institutional liquidity with diversified investment targets, to overpass prices and psychological barriers. Where with the witnessed weak increases and decreases of Al-Quds Index for a period of time, it still lacks the direction compass due to the lack in the liquidity momentum

Regarding the listed companies’ dividends distribution announcements for the year 2018, the board of directors BOD of the Arab Islamic Bank AIB raised a recommendation to the general assembly GA, which will be holding a meeting on 26/03/2019, to raise the paid-up capital from $75.00 million to around $84.88 million through distributing 13.17% stocks dividends to its shareholders. Also, it recommended distributing 3.50% cash dividends to its shareholders for the year 2018, to record dividends yield of 1.98% based on the current market price, and payout ratio of 36.84% based on the earnings per share EPS of 2018. Moreover, the BOD of the Vegetable Oil Industries Company VOIC proposed to the GA, which will be holding a meeting on the last half of April 2019, distributing 60% cash dividends for the year 2018, to record dividends yield of 4.14% based on the current market price, and payout ratio of 36.70% based on the EPS of 2018. In the same context, the BOD of Palestine Investment and Development Company PID raised a recommendation to the GA, which will be holding ordinary and extraordinary meetings on 24/03/2019, to distribute 10% cash dividends for the year 2018, to record dividends yield of 6.53% based on the current market price and payout ratio of 76.34% based on the EPS of 2018. In the insurance sector, the BOD of Al-Takaful Palestinian Insurance Company TIC proposed to the GA, which will be holding a meeting on 18/04/2019, distributing 10% cash dividends for the year 2018, to record dividends yield of 4.31% based on the current market price, and 36.10% payout ratio based on the EPS of 2018.

 

Regarding this week’s trading, Sanad Construction Resources Company SANAD topped the PEX this week when its transactions contributed for 32.53% from the PEX’s total trading value. This followed executing an institutional transaction that exceeded 0.80 million shares on its stocks, to close at the level of $2.08; significantly up by 14.92% than its previous weekly closing level. On the other hand, the stock of the Arab Islamic Bank AIB increased significantly by 8.59% than its previous weekly closing level after trading in a relatively wide range, to record $1.77. This followed transactions that didn’t exceed $0.20 million. In another context, the stock of Bank of Palestine BOP stabilized at $2.30 without any change than its previous weekly closing level. This followed recording trading value worth $1.39 million, in which was supported by executing an institutional transaction of 0.42 million shares through the week. 


 

2021-02-25
The PEX records average PE of 16.6x and average P/BV of 1.10x at the end of 2020

2021-02-25
VOIC recommends distributing 50% cash dividends for 2020

2021-02-24
BPC proposes distributing 2% stocks dividends and 15% cash dividends for the year 2020

2021-02-24
The end of the legal granted period to disclose the prelimanry financial data for 2020

2021-02-22
MIC proposes 8.27% cash dividends for the year 2020

2021-02-21
Al-Quds Index in the red zone and a momentum in the significant news

2021-02-16
NIC proposes distributing 15% stocks dividends and 22.5% cash dividends for the year 2020

2021-02-16
JCC posts net income of JD2.33 million in 2020

2021-02-16
OOREDOO posts net income of $7.54 million in 2020

2021-02-16
PRICO realizes net loss of JD3.57 million in 2020

2021-02-16
PIIC posts net income of JD5.41 million in 2020

2021-02-16
AIB posts net income of $8.01 million in 2020

2021-02-16
PIBC posts net income of $3.27 million in 2020

2021-02-16
LADAEN realizes net loss of JD0.01 million in 2020

2021-02-16
NCI posts net income of $0.80 million in 2020

2021-02-16
WASSEL posts net income of $0.17 million in 2020

2021-02-16
MIC posts net income of $1.28 million in 2020

2021-02-16
JPH posts net income of $3.96 million in 2020

2021-02-16
ARAB posts net income of JD0.54 million in 2020

2021-02-16
PSE posts net income of $0.40 million in 2020

2021-02-16
PID realizes net loss of JD0.83 million in 2020

2021-02-16
BPC posts net income of $7.24 million in 2020

2021-02-16
BJP posts net income of JD0.75 million in 2020

2021-02-16
RSR posts net income of JD0.26 million in 2020

2021-02-16
NSC posts net income of JD0.49 million in 2020

2021-02-16
PEC posts net income of $9.38 million in 2020

2021-02-16
GMC posts net income of JD0.07 million in 2020

2021-02-16
AZIZA posts net income of JD4.57 million in 2020

2021-02-16
AQARIYA posts net income of $0.96 million in 2020

2021-02-16
AHC realizes net loss of JD2.99 million in 2020

2021-02-16
AIG posts net income of $0.76 million in 2020

2021-02-16
TIC posts net income of $2.22 million in 2020

2021-02-16
PALTEL posts net income of JD43.04 million in 2020

2021-02-16
BOP posts net income of $22.88 million in 2020

2021-02-16
PADICO posts net income of $5.07 million in 2020

2021-02-16
NIC posts net income of $7.81 million in 2020

2021-02-16
TNB records net income of $0.31 million in 2020

2021-02-16
QUDS reports net income of $10.90 million in 2020

2021-02-15
GUI reports net income of $2.33 million in 2020

2021-02-15
ISBK posts net income of $11.17 million in 2020

2021-02-15
JREI realizes net loss of $0.04 million in 2020

2021-02-15
PALTEL proposes distributing 30% cash dividends for the year 2020

2021-02-15
VOIC posts net income of JD6.23 million in 2020

2021-02-14
ABRAJ posts net income of $1.28 million at the end of 2020

2021-02-14
APC posts net income of JD0.87 million at the end of 2020

2021-02-14
UCI posted net income of $1.20 million at the end of 2020

2021-02-11
A decline in the Index in anticipation for the next week

2021-02-10
TRUST proposes distributing 10% cash dividends for the year 2020

2021-02-04
Al-Quds Index declines and the start of the annual disclosures acceleration

2021-02-02
NAPCO posts net income of JD0.007 million at the end of 2020

2021-02-01
APIC records net profits of $24.65 million at the end of 2020

 

 

 
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