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Al-Quds Index in the red zone amid a liquidity scarcity


 Sahem Weekly Trading Report (08-12)-09-2019

In this week, the heavy lack of liquidity that dominates the trading in Palestine Stock Exchange PEX for a while continues. Amid the declining in the liquidity flow-new or in the form of internal circulation-, the reasons of its scarcity are still related to an anticipation that is far from the typical and routine period, despite the appearing of high-volume institutional transactions from time to time. During the week, the price movements of Al-Quds Index continued in its relatively narrow range. Whereby, the Index witnessed a decline from the 520 points level during the week, to rebound from and close at the level of 520.35 points; down by 0.26% than its previous weekly closing level. Where, some of the leading stocks witnessed a declining in their prices, while others witnessed a stabilizing in their prices than the previous week. On another hand, the PEX approaches a routinely anticipation period with the end of September; represented by disclosing the financial and operating results for the first nine months of the current year 2019, 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.

On another hand, the listed companies accelerated to determine dates for holding their board of directors BOD’s meetings in order to discuss and approved the financial data till the end of August 2019, and discuss the expected financial data for the end of Q3 2019. Whereby, the BOD of the largest company in the PEX by market capitalization- Palestine Telecommunications PALTEL- will be holding a meeting on 23/09/2019. Moreover, the BOD of the largest investment company in the PEX by market capitalization- Palestine Development and Investment Company PADICO- will be holding a meeting on 30/09/2019. Also, Palestine Investment Bank PIBC announced holding its BOD meeting on 25/09/2019. On the other hand, the BOD of Palestine Poultry Company AZIZA held a meeting on 10/09/2019.

On another hand and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 107.60 during July 2019 with a sharp increase of 10.83% compared to June 2019 (Base Year 2018 = 100). IPI for July 2019 increased due to the sharp increase in the activities of electricity, gas, steam and air conditioning supply by 15.55% which had a share of 11.95% of the total industry, the activities of manufacturing industry by 10.65% which had a share of 82.98% of the total industry, and the activities of mining and quarrying increased by 5.67% which had a share of 2.68% of the total industry, while the activities of water supply, sewerage, waste management and remediation decreased by 0.72% which had a share of 2.39% of the total industry.




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