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2019-05-09
Sahem Weekly Trading Report (05-09)-05-2019
With the receding in the wave of holding the general assembly meetings for the listed companies and the start of the holy month Ramadan, the state of lack of liquidity that has dominated the trading process in Palestine Stock Exchange PEX for a while continued, whereby, the ordinary trading value barely records acceptable levels. Where the PEX witnesses recently slow and scarce transactions of Ramadan. On another hand, Al-Quds Index increased by 0.33% than its previous weekly closing level, after its attempts to breakthrough the 530 points level, to stabilize at the level of 529.12 points. Whereby the Index witnesses fluctuations between a slight increase and decrease coinciding with the routine price declining wave in order to balance the prices after the dividends’ distribution. Where with the price routine cycles of the leading stocks prior and after the dividends’ distribution, the main reason for the price movements in the PEX, in general, appear.
Regarding the trading of the leading stocks in this week, the stock of the largest company in the PEX in terms of market capitalization- Palestine Telecommunications PALTEL- increased by 2.25% than its previous weekly closing level and by 1.74% than its equivalent price after approving distributing 40% cash dividends for the year 2018, to close at the level of JD4.09 after trading in a relatively wide range and through transactions worth $0.46 million. On another hand, the stock of the largest investment company in the PEX- Palestine Development and Investment Company PADICO- declined by 0.72% than its previous weekly closing level, to record $1.37 after trading in a relatively narrow range and through transactions worth $0.10 million. In another context, the stock of the largest bank by market capitalization- Bank of Palestine BOP- stabilized at the level of $2.17 without any change than its previous weekly closing level. While the stock is still trading with a decline of 4.82% than its equivalent price after approving distributing 11.50% cash dividends and 2.00% stocks dividends for the year 2018 and through transactions worth $0.13 million.
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