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Al-Quds Index declines slightly amid relatively weak transactions

2020-12-10

Sahem Weekly Trading Report (06-10)-12-2020

In the second week of December, the leading stocks- with heaviest weights and effects on Al-Quds Index- witnessed slight fluctuations that are leaning to decline, to end it with a relatively stabilization in the prices. While despite executing a transaction on the stocks of Al-Quds Bank QUDS of 1.78 million shares, but the trading value is still weak. On another hand. Al-Quds Index declined slightly by 0.05% than its previous weekly level, after trading in a relatively wide range, to close at 472.58 points. Moreover, within the end of 2020, increasing anticipations among all categories of investors and observers for the upcoming last trading sessions of the year appear with cautious moves towards the year 2021 after emphasizing the positive vision of Palestine Stock Exchange PEX and its development on an annual basis historically, in line with its distinguished entity and ability to isolate itself by itself from any political and economic developments.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 176.76 during October 2020 with an increase of 2.90% compared to September 2020, which recorded 171.77 (Base Year 2018). IPI for October 2020 increased due to the increase in the activities of manufacturing industry by 4.68%; constituting for 82.98% of the total industry, while the activities of mining and quarrying decreased by 11.21%; constituting for 2.68% of the total industry, the activities of electricity, gas, steam and air conditioning supply decreased by 5.44%; constituting for 11.95% of the total industry, and the activities of water supply, sewerage, waste management and remediation decreased by 1.33%; constituting for 2.39% of the total industry.

In another context, the listed companies accelerated to determine dates to hold their board of directors BOD’s meetings, to discuss and approve the financial data for November 2020. Whereby, both the BODs of Wataniya Palestine Mobile Telecommunications OOREDOO and the National Insurance Company NIC held meetings on 09/12/2020. Also, the BOD of Palestine Telecommunications PALTEL will be holding a meeting on 14/12/2020. In addition, the BOD of Palestine Poultry Company AZIZA will be holding a meeting on 19/12/2020. Besides this, the BOD of Beit Jala Pharmaceuticals BJP will be holding a meeting on 21/12/2020. In the same context, the BOD of Palestine Industrial Investment Company will be holding a meeting on 22/12/2020. Also, the Arab Islamic Bank AIB determined 24/12/2020 a date to hold its BOD meeting. In addition. The BOD of the National Catron Industry NCI will be holding a meeting on 26/12/2020.


 

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