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2020-11-26
Sahem Weekly Trading Report (22-26)-11-2020
After the jump in Al-Quds Index’s level in the previous week to breakthrough psychological barriers that has abandoned for a period of time, Al-Quds Index declined by 1.02% in this week, to close at the level of 466.65 points after trading in a relatively wide range. And if we exclude the institutional transactions, the low liquidity levels that dominated the trading in Palestine Stock Exchange PEX for several weeks continued to heavily decline. Amid the receding in the liquidity flow -either new or internal circulation-, the liquidity scarcity reasons are still affected by an anticipation that is far from the stereotyping and routinely of this period of time. While the PEX is characterized with a unique nature of anticipation stages’ succession with their varying reasons, whereby, investors are not able to complete building their investment portfolios until new anticipation features appear in the horizon.
In the market, the leading stocks witnessed declines in their prices this week. Whereby, the stock of the largest company in the PEX in terms of market capitalization – Palestine Telecommunications PALTEL- declined by 1.64% than its previous weekly closing level, to records JD3.59 after trading in a relatively wide range, and through transactions worth $0.15 million. Moreover, the stock of the largest bank in the PEX in terms of market capitalization – Bank of Palestine BOP – recorded a decrease of 4.65% than the previous week, to close at the level of $1.64 through transactions worth $0.67 million, and after trading in a relatively wide range. Also, the stock of the largest investment company in the PEX by market capitalization – Palestine Development and Investment Company PADICO- declined by 3.45% than its previous weekly closing level, to record $0.84 and through transactions worth $0.05 million.
On the other hand, the listed companies continued to schedule their board of directors BOD’s meetings to discuss and approve the estimated budget for 2021. Whereby, the BOD of both Palestine Islamic Bank ISBK and Palestine Securities Exchange Company PSE held meetings on 10/11/2020. Also, the BOD of Dar Al-Shifa'a for the Manufacturing of Pharmaceuticals PHARMACARE held a meeting on 11/11/2020. Moreover, the BOD of Al-Quds Bank QUDS held a meeting on 14/11/2020. While the BOD of the National Aluminum & Profile Company NAPCO held a meeting on 16/11/2020. In the same context, the BOD of Palestine Poultry Company AZIZA held a meeting on 21/11/2020. Also, the BOD of Global United Insurance Company GUI held a meeting on 22/11/2020. Furthermore, the BOD of both Palestine Real Estate Investment Company PRICO and the Golden Wheat Mills Company GMC held meetings on 26/11/2020. On the other hand, the BOD of the Arab Islamic Bank AIB will be holding a meeting on 30/11/2020.
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