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Al-Quds Index in the red zone amid lack of liquidity


 Sahem Weekly Trading Report (07-11)-06-2020

In the second week of June, Al-Quds Index traded in a relatively narrow range, to close at the level of 474.55 points; down by 0.91% than its previous weekly closing level. While the Index recorded premium to 52 weeks low of 0.20%, and discount to 52 weeks high of 11.71%. In the same context, the trading in Palestine Stock Exchange PEX is still very weak and scarce. However, with the several and different reasons for the lack of liquidity, the majority of the Palestinian listed companies’ shareholders are still holding their financial positions, in hope to diminish all of these reasons to touch a reviving in the PEX in the coming period.

Regarding the PEX’s weekly trading performance, the absence of institutional transactions and high-volume ones was reflected with a weak trading value in the PEX that recorded $2.01 million. Regarding the blue-chips, the stock of the largest company in the PEX in terms of market capitalization -Palestine Telecommunications PALTEL- increased by 0.53% than its previous weekly level, to reach JD3.80 through transactions worth $0.79 million. Moreover, the stock traded above its equivalent price by 2.70%. On another hand, the stock of the largest investment company in the PEX in terms of market capitalization- Palestine Development and Investment Company PADICO- declined by 5.56% than its previous weekly closing level, to record $0.85 through transactions worth $0.23 million. In the same context, a 1.62% decline in the price of the largest bank in the PEX in terms of market capitalization- Bank of Palestine BOP- was witnessed than its closing in the previous week, to reach $1.82 through transactions worth $0.20 million. Furthermore, the stock traded above its equivalent price by 1.11%.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, 25% was the unemployment rate among labor force participants in Palestine, total labor underutilization stands at 33%. Using the latest revised ILO standards ICLS 19th, the number of unemployed was 336,300 in the 1st quarter of 2020, distributed as 211,300 in Gaza Strip and 125,000 in the West Bank. The unemployment rate in Gaza Strip was 46% compared with 14% in the West Bank, while the unemployment rate for males in Palestine was 21% compared with 40% for females. Regarding the local market, the number of the employed individuals in the local market decreased from 906 thousand in the 4th quarter 2019 to 888 thousand in the 1st quarter 2020, which decreased in Gaza Strip by 9.4%, while in the West Bank increased by 1.2%, for the same period. The services and other branches activity (included education and health) was the biggest employer in the local market, where the percentage of employment was more than one third of the employed individuals in the West Bank compared with more than the half in Gaza Strip.





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