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Al-Quds Index increases in waiting for new positives

2019-03-21

Sahem Weekly Trading Report (17-21)-03-2019

The trading in Palestine Stock Exchange PEX in this week witnessed a momentum in executing several institutional transactions on some leading companies and others amid an acceleration in announcing the dividends distribution proposals to the shareholders for the year 2018. Whereby, several transactions were executed on the stocks of the largest bank in the PEX in terms of market capitalization – Bank of Palestine BOP- of more than 0.90 million shares, in addition to executing a transaction of more than 0.98 million shares on the stocks of Wataniya Palestine Mobile Telecommunications OOREDOO. In another context, Al-Quds Index closed with an increase of 0.80% than its previous weekly closing level, closing at the level of 549.24 points. Whereby, this period of time witness liquidity circulation that falls within the investors’ routine investment positions changing in the period that precede the general assembly meetings. With the dividends’ distribution approvals in the coming week, the stocks that distribute dividends will witness an automatic decline in price in the days that follow the distribution decision date by a percentage that approximates its dividends yield in order to meet the equivalent price. This scientifically is attributed to the fact that the stock price that holds the cash dividends prior to the general assembly meeting date is not equivalent to the price that doesn’t hold these dividends after the entitlement.

In waiting for new positives with the approaching end of Q1 2019 to start the anticipation for the quarterly financial data, the investors’ appetite is still open to grab investment positions’ opportunities. A category of speculators may prefer to sell when the dividends’ proposals are announced in order to reposition themselves after the distribution, while, other category may increase the purchasing orders with the increase in expectations regarding the dividends’ recommendations. This week, the number of companies that raised recommendations regarding the dividends’ distribution increased to 17 companies till this moment; four banks, six industrial companies- one has approved its dividends distribution proposal-, four insurance companies, two investment companies and one service company. During this week, the board of directors BOD of Birzeit Pharmaceuticals Company BPC raised a recommendation to the general assembly GA, which will be holding a meeting on 22/04/2019, to distribute 15% cash dividends for the year 2018, to record dividends yield of 2.90% based on the current market price.  Also, the BOD of Palestine Investment Bank PIBC raised a recommendation to the GA, which will be holding a meeting on 23/04/2019, to raise the paid-up capital from $75.00 million to $78.00 million through distributing 4% stocks dividends for its shareholders. It also proposed distributing 4% cash dividends for the year 2018, to record dividends yield of 3.39% based on the current market price.

 

 


 

2024-03-28
Weak trading with the approaching end of Q1 2024

2024-03-26
APIC recommends distributing 6.838% stocks dividends for the year 2023

2024-03-21
Al-Quds Index continues to decline amid lack of general liquidity

2024-03-18
AQARIYA records net income of $0.83 million in 2023

2024-03-18
AHC realizes net loss of JD1.67 million in 2023

2024-03-18
JCC posts net income of JD1.77 million in 2023

2024-03-18
GMC posts net income of JD0.003 million in 2023

2024-03-18
SANAD realizes net loss of $5.03 million in 2023

2024-03-18
ISBK posts net income of $4.85 million in 2023

2024-03-18
JREI realizes net loss of $0.10 million in 2023

2024-03-17
NAPCO realizes net loss of JD1.68 million in 2023

2024-03-17
APIC posts net income of $19.05 million in 2023

2024-03-17
SAFABANK realizes net loss of $0.88 million in 2023

2024-03-17
QUDS posts net income of $9.18 million in 2023

2024-03-17
NSC posts net income of JD0.80 million in 2023

2024-03-17
PIBC posts net income of $5.07 million in 2023

2024-03-17
AIB posts net income of $5.52 million in 2023

2024-03-17
ARAB posts net income of JD0.69 million in 2023

2024-03-17
ABRAJ posts net income of $1.02 million in 2023

2024-03-17
TNB posts net income of $14.40 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-14
Al-Quds Index in the red zone in Ramadan

2024-03-14
BJP posts net income of JD1.84 million in 2023

2024-03-13
RSR posts net income of JD0.33 million in 2023

2024-03-13
PID realizes net loss of JD0.08 million in 2023

2024-03-10
BPC recommends distributing 7% cash dividends for the year 2023

2024-03-10
AMLAK posts net income of $0.07 million in 2023

2024-03-07
Weak trading amid a continuation in the annual data disclosures for 2023

2024-03-05
WASSEL posts net income of $0.54 million in 2023

2024-03-05
PRICO realizes net loss of JD12.10 million in 2023

2024-03-05
UCI posts net income of $1.01 million in 2023

2024-03-03
TIC recommends distributing 15% cash dividends for the year 2023

2024-03-03
ARKAAN realizes net loss of $9.99 million in 2023

2024-03-03
PADICO realizes net loss of $19.34 million in 2023

 

 

 
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