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Al-Quds Index in the green zone amid weak transactions

2019-12-05

 Sahem Weekly Trading Report (01-05)-12-2019

In the first week of the last month of the year 2019, Al-Quds Index ended its trading in the green zone, to close at the level of 526.84 points; up by 1.02% than its previous weekly closing, amid more weighting to the positive price trends of the blue-chips, in which most of them witnessed increasing in their prices during the week versus a stabilization in the prices of others around their previous weekly closing level. On another hand, a transaction was executed on the stocks of Ramallah Summer Resorts Company RSR of 0.18 million shares in the week and two transactions of 0.08 million shares were executed on the stocks of the largest company in Palestine Stock Exchange PEX by market capitalization- Palestine Telecommunication PALTEL-. However, the general liquidity in the PEX was scarce – if we exclude the transactions- amid lack of the general drivers and decline in the investors’ appetite that was touched through the slow transactions. On the other hand, the leading stocks acquired the majority of trading in thePEX despite its scarceness, and in parallel to the routine anticipation of the trading types for the end of the year.

Regarding the economic Indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Producer Price Index (PPI) for Palestine with its base year (2018 = 100) reached 99.68 in October 2019 compared to 99.30 in September 2019, as it increased by 0.38%. Whereby, the Producer Price Index for locally consumed products (2018 = 100) reached 99.75 in October 2019 compared to 99.26 in September 2019, which indicates an increase of 0.49%, while, the Producer Price Index for local exported products (2018 = 100) reached 98.92 in October 2019 compared to 99.50 in September 2019, which indicates a decrease of 0.58% compared to September 2019. Whereby, the changes of PPI for October 2019 were traced back to the increase in prices of the following major activities compared to the previous month: electricity, gas, steam and air conditioning supply by 2.24%, agriculture, forestry and fishing goods by 0.30%, and manufacturing by 0.19%, versus a declining in the prices of: mining and quarrying by 1.78%, and water supply; sewerage, waste management and remediation activities by 1.29%.

On the other hand and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 110.82 during October 2019 compared to 111.73 during September 2019, with a decrease of 0.82% compared to September 2019 (Base Year 2018 = 100). IPI for October 2019 decreased due to the decrease in the activities of mining and quarrying by 7.73% which constitute 2.68% of the total industry, the activities of electricity, gas, steam and air conditioning supply by 1.86% which constitute 11.95% of the total industry, and the activities of manufacturing industry by 0.49% which constitute 82.98% of the total industry, while the activities of water supply, sewerage, waste management and remediation increased by 0.67% which constitute 2.39% of the total industry.


 

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