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Two transactions on PALTEL raise the trading value significantly


Sahem Weekly Trading Report (13-17)-12-2020

With the approaching end of the year 2020, Palestine Stock Exchange PEX witnessed flow of liquidity following executing two transactions of 1.16 million shares on the stocks of the largest company in the PEX in terms of market capitalization – Palestine Telecommunications PALTEL-, to raise the trading value to the relatively high level. While, Al-Quds Index traded, in this week, in a relatively narrow range, closing at the level of 473.90 points; up by 0.28% than its previous weekly closing level. On another hand, the anticipation increases for the coming days that coincide with the last days of the year, to crown the results of a whole economically difficult year. Routinely and historically, the last days of the year is characterized with movements regarding the liquidity -on one hand- through executing transactions and moving between the investment positions, and the price trend movements on another hand, in order to affect the investment evaluation.

Regarding the leading stocks, the stock of Palestine Telecommunications PALTEL topped the PEX in terms of trading value when its transactions constituted 91.80% from total trading value after executing two transaction on its shares during the week, to close at the level of JD3.79; up significantly by 3.84% than its previous weekly level. On another hand. The largest investment company in the PEX in terms of market capitalization – Palestine Development and Investment Company PADICO- witnessed a decline of 2.38% than the previous week, to close at the level of $0.82 after trading in a relatively narrow range and through transactions worth $0.03 million. Also, a decline of 0.58% in the price of the largest bank in the PEX in terms of market capitalization- Bank of Palestine BOP- was witnessed, to close at the level of $1.70 after transactions worth $0.12 million. In general, the anticipation increases regarding the blue-chips’ trading in the coming days coinciding with the movements’ characteristics at the end of the year usually.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during November 2020 recorded a decrease by 0.37% compared with October 2020 (by 0.42% in Gaza Strip, by 0.38% in the West Bank, and by 0.23% in Jerusalem). The changes in Palestinian CPI for November 2020 were traced back to the decrease in prices of the following expenditure sub groups compared with previous month: fresh fruit by 4.70%, fresh vegetables by 4.53%, fresh chicken by 3.09%, eggs by 2.07% and liquid fuel for car “Petrol” by 1.26%, versus an increase in the prices of: dried vegetables by 4.16% and gas by 3.02%. The Palestinian CPI during November 2020 decreased by 0.76% compared with November 2019 (by 1.11% in the West Bank, while it increased by 0.79% in Gaza Strip, and by 0.28% in Jerusalem).




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