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2020-01-02
Sahem Weekly Trading Report (29-12-2019)-(02-01-2020)
The last trading session of the year 2019 witnessed some activity and price movements, to end the year’s trading at the level of 525.96 points; down by 0.64% than its yearly closing in 2018; the lowest closing since the year 2015. Whereby, the performance of Palestine Stock Exchange PEX varied over the past 10 years, to record the highest close of the Index at 574.58 points in 2017, and the lowest at 476.93 points in 2011; with a compound annual growth rate CAGR of 0.65% since the year 2009. On another hand, the market witnessed balanced performance with the start of the New Year 2020’s trading sessions than the previous weeks, whereby, Al-Quds Index ended this first week of the year- with four trading sessions- at the level of 522.38 points; down by 0.20% than the previous weekly closing level. However, in another context and despite the varied behavior of investors in building their portfolios based on their investment strategies, the anticipation increases among all investors’ segments towards the disclosed annual financial statements of the listed companies, to predict the financial returns from the distributed dividends from one hand and the capital gains from another hand.
Regarding the PEX’s sectors, the banking and financial services sector recorded a compound annual growth rate CAGR of 3.77% since the year 2009, to close at the level of 148.83 points at the end of 2019; down by 0.80% than the year 2018. Moreover, the industry sector recorded a CAGR of 5.92% since 2009, to close with a slight increase of 0.15% in the year 2019 than 2018 after reporting 98.79 points. Also, the closing of the insurance sector witnessed a significant increase of 9.24% at the end of 2019 compared to 2018 following reporting 99.15 points, while it recorded a CAGR of 6.33% since the year 2009. On the other hand, the investment sector recorded a CAGR of 2.11% since 2009, to close the year 2019 at the level of 27.79; down by 1.38% than the year 2018. Furthermore, the services sector recorded a CAGR of -1.96% since the year 2009, to stand at 40.91 points at the end of 2019; up by 2.02% compared to 2018.
Within its yearly modification that coincides with the end of the year 2019, the PEX reviewed the composition of Al-Quds Index for the year 2020 and made no changes to the companies included in the old composition of the year 2019, whereby, the number of companies is still the same as the year 2019; 15 companies out of 48 listed companies that represent around 75% of the total PEX market capitalization. While the new composition consists of the same companies as the old one, from the banking and financial services sector: Bank of Palestine, the National Bank, Palestine Islamic Bank, Palestine Investment Bank and Al-Quds Bank. From the insurance sector: Ahliea Insurance Group. From the investment sector: Palestine Development & Investment “ PADICO HOLDING”, Arab Palestinian Investment “APIC”, Palestine Real Estate Investment and Union Construction & Investment. From the industry sector: Jerusalem Pharmaceuticals and Birzeit Pharmaceuticals. And from the services sector: Palestine Telecommunications, Palestine Electric and Wataniya Palestine Mobile Telecommunications.
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