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Al-Quds Index declines amid lack of general incentives

2020-07-16

 Sahem Weekly Trading Report (12-16)-07-2020

With scarce trading that is far from high-volume transactions, Al-Quds Index is still trading at its lowest levels; down by 0.35% than its previous weekly closing level after trading in a relatively narrow range, to close at the level of 464.16 points. However, the three leading stocks with heaviest weights and effects on Al-Quds Index witnessed scarce transactions and weak liquidity. Where some declined than the previous week and others stabilized at their previous weekly closing levels. On the other hand, the other companies’ stocks did not witness any trading activity than the previous weeks amid almost absence of internal circulation. Where, this period is characterized with general incentives inactivity following the status quo of trying to control the spread of the Coronavirus, in addition to the lack of any developments in the political and economic aspects, while the market started to anticipate the semi-annual financial data disclosures, whereby, it is expected that the coming days will witness disclosures’ momentum. Where the legal period granted to disclose the semi-annual financial data for the listed companies ends in mid-August.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, a decrease in the prices of basic food commodities within food groups push the overall Consumer Price Index CPI for Palestine to decrease by 0.47% during June 2020 compared with May 2020 (by 1.18% in Gaza Strip, by 0.31% in the West Bank, and with a slight decrease by 0.06% in Jerusalem). The changes in Palestinian CPI for June 2020 were traced back to a decline in prices of the following expenditure sub groups compared with previous month: dried vegetables by -14.15%, fresh fruit by -7.92%, fresh vegetables by -4.89%, potatoes and other tubers by -2.91%, fish (live, fresh, chilled or frozen) by -2.36%, fresh chicken by -1.51%, eggs by -1.33%, gas by -1.10% versus an increase in the prices of liquid fuel for car “Petrol” by 8.86% and liquid fuel for car “diesel” by 7.57%.When comparing the CPI to the previous year, the Palestinian CPI during June 2020 decreased by 1.95% compared with June 2019 (by 1.98% in the West Bank, by 1.97% in Gaza Strip, and by 0.93% in Jerusalem).

On another hand, the listed companies accelerate to determine dates to hold their board of directors BODs’ meetings in order to discuss and approve the financial data for the end of June 2020. In this context, the BOD of Al-Quds Bank QUDS held a meeting on 14/07/2020. Also, the BOD of the National Carton Industry Company NCI will be holding a meeting on 25/07/2020. Moreover, the BOD of Palestine Telecommunications PALTEL will be holding a meeting on 26/07/2020. In addition, the BOD of both the National Insurance Company NIC and Al-Wataniah Towers Company ABRAJ will be holding meetings on 27/07/2020.


 

2020-10-25
APIC reports net income of $15.95 million in 9M 2020

2020-10-25
NAPCO realizes net loss of JD0.44 million in 9M 2020

2020-10-25
BJP posts net income of JD0.62 million in 9M 2020

2020-10-25
UCI posts net income of $0.16 million in 9M 2020

2020-10-22
Lack of liquidity with increasing the anticipation for 9M disclosures

2020-10-20
ARAB posts net income of JD0.06 million in 9M 2020

2020-10-19
QUDS posts net income of $7.92 million in 9M 2020

2020-10-18
RSR posts net income of JD0.19 million in 9M 2020

2020-10-15
Al-Quds Index in the green zone amid the start of 9M 2020 financial data disclosures

2020-10-14
APC posts net income of JD0.49 million in 9M 2020

2020-10-08
Scarce transactions and an absence in the institutional transactions

2020-10-01
Al-Quds Index continues to decline and a new anticipation raises

 

 

 
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