Sahem Weekly Trading Report (05-09)-07-2020

The scarcity and slowness in trading that started several weeks ago continued in this week also, while Al-Quds Index declined by 0.87% than its previous weekly closing level, to record 465.79 points coinciding with the lack of selling offers in the depth for the leading stocks and others, especially with the lack of substantial news in this period. On the other hand, a change in the trading pace variety appeared compared to the previous weeks after executing a transaction on the leading stock of the Arab Palestinian Investment Company APIC of 5.00 million shares. Whereby, Palestine Investment Fund PIF sell part of its stake in APIC’s paid up capital, to raise the trading value in Palestine Stock Exchange PEX noticeably. While the coming period still drags the attention of followers, especially with the anticipation increase for the semi-annual financial data disclosures for the year 220, and after the listed companies had almost approved dividends distribution for the year 219, along with the receding in the prices decline wave following the dividends entitlement.

In the market, the stock of the Arab Palestinian Investment Company APIC topped the PEX in terms of liquidity when its transactions constituted 94.34% from total trading value of the week. This followed executing a transaction on its shares in this week. Whereby, APIC gained 1.22% when closed at the level of $2.48. On the other hand, none of the other leading stocks shined, whereby, the trading value of each one didn’t exceed $0.25 million. Where the largest stock in the PEX in terms of market capitalization- Palestine Telecommunications PALTEL- closed at the level of JD3.70; down by 1.33% than its previous weekly closing level. Moreover, the largest investment stock in the PEX by market capitalization- Palestine Development and Investment Company PADICO- recorded a decline of 3.53% than the previous week, to close at the level of $0.82. On another hand, stabilization in the price of the largest bank in the PEX in terms of market capitalization- Bank of Palestine BOP- was witnessed at the level of $1.77 without any change than the previous week.

In the economic indicators and according to the Palestinian Central Bureau of Statistics, the Industrial Production Index IPI in Palestine began to return to levels witnessed before the Corona Virus spread outbreak. With eliminating the procedures related to Coronavirus pandemic in May 220, the overall IPI in Palestine reached 103.49 during May 2020 with a sharp increase of 63.37% compared to 63.35 during April 2020 (Base Year 2018); a rise to levels close to the pre-coronavirus crisis levels, although remaining 10% below the normal level. IPI for May 2020 sharply increased due to the sharp increase in the activities of mining and quarrying by 82.81% which had a share of 2.68% of the total industry, the activities of manufacturing industry by 69.11% which had a share of 82.98% of the total industry, the activities of water supply, sewerage, waste management and remediation by 58.66% which had a share of 2.39% of the total industry, and the activities of electricity, gas, steam and air conditioning supply by 20.06% which had a share of 11.95% of the total industry.