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Al-Quds Index at its lowest levels since the beginning of the year 2019

2019-09-19

Sahem Weekly Trading Report (15-19)-09-2019

Al-Quds Index traded at its lowest levels since the beginning of the year 2019, whereby, it declined below the 520 points level that traded around for a period of time, to close at the level of 518.64 points; down by 0.33% than its previous weekly closing level, and by 2.02% than its yearly closing at the end of 2018. On another hand, the normal liquidity is still scarce, despite executing and institutional transaction on the leading stock of the Arab Palestinian Investment Company APIC of 0.75 million shares. While the blue-chips witnessed declining in their prices coinciding with the routinely phase. Despite the different and varied investors' motives in Palestine Stock Exchange PEX, but the current recorded price levels by the companies’ stocks are considered attractive to buy. On the other hand, as obvious to the observer, the current month of September is of much importance with the approach of the companies’ announcements of financial results for the third quarter of this year, because of their ability to boost the price jumps to chart the trend of the PEX until the end of the year.

Regarding the price dynamics, the current price of Palestine Telecommunications Company PALTEL- the largest company by market capitalization and the highest weighted stock in Al-Quds Index- records premium to 52-weeks low of 4.81, and discount to 52-weeks high of 7.80%. Moreover, the stock of the largest investment company by market capitalization - Palestine Development and Investment Company PADICO- records, based on the current price, premium to 52-weeks low of 3.57%, and discount to 52-weeks high of 17.14%. However, regarding the stock of the largest bank by market capitalization- Bank of Palestine BOP-, it records premium to 52-weeks low based on the current price of 3.52%, and discount to 52-weeks high of 17.60%. On the other hand, the leading stock of the Arab Palestinian Investment Company APIC, reports, based on the current price, premium to 52-weeks low of 6.67% and discount to 52-weeks high of 2.04%.

In another context and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during August 2019 increased by 0.31% compared with July 2019 (by 0.32% in the West Bank, by 0.28% in Gaza Strip, and by 0.15% in Jerusalem). The increase in the Palestinian CPI for August 2019 mainly resulted from an increase in the prices of fresh vegetables by 8.74%, fresh fruit by 4.58%, eggs by 4.41%, potatoes and other tubers by 3.10%, dried vegetables by 1.36% and fresh chicken by 0.73%, despite a decline in the prices of gas by 1.18% and fresh meat by 0.81%. Moreover, the Palestinian CPI during August 2019 increased by 1.87% compared with August 2018 (by 1.98% in the West Bank, by 1.81% in Jerusalem, and by 1.14% in Gaza Strip).