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2021-01-06
Sahem Weekly Trading Report (03-06)-01-2021
Al-Quds Index started the year 2021 with an increase. Whereby, recorded in the first four trading sessions of the week an increase of 1.23% than its closing at the end of the year 2020, to settle at 477.08 points. This mainly followed the significant increase in the price of the stock with the heaviest weight and effect on Al-Quds Index, and the largest in Palestine Stock Exchange PEX in terms of market capitalization- Palestine Telecommunications PALTEL- by 6.05% than its previous weekly closing level. While the price movements are still slow and the normal liquidity levels are still scarce amid calmness among the investors with their different categories. On another hand, the substantial news that impacts the companies’ stocks receded and the investors’ buying/selling strategies were also scarce. During these days, no announcements accelerated except for holding the board of directors’ meetings in order to review the preliminary annual financial data for 2020. According to the applied law, the PEX grants the listed companies 45 days since the end of the last year to disclose their preliminary data. In this context, the anticipation increases more for investors in waiting for the final figures that will be disclosed by the companies and especially the blue-chips in order to predict the investment yield in the form of cash or stocks dividends, which depends mainly on the company’s remaining strategies during the year to maintain specific operation revenues levels versus completely hedging any surrounding changes.
Regarding the blue-chips price dynamics, the current price of Palestine Telecommunications Company PALTEL- records premium to 52-weeks low of 21.75%, and discount to 52-weeks high of -8.41%. Moreover, the current price of Palestine Development and Investment Company PADICO - the largest investment company in the PEX by market capitalization- records, premium to 52-weeks low of 11.43%, and discount to 52-weeks high of -30.97%. However, regarding the stock of the largest bank in the PEX by market capitalization- Bank of Palestine BOP-, it currently records premium to 52-weeks low of 7.33%, and discount to 52-weeks high of -21.46%. On the other hand, the leading stock of the Arab Palestinian Investment Company APIC, currently reports premium to 52-weeks low of 19.15% and a slight discount to 52-weeks high of -0.71%.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 165.54 during November 2020 with a decrease of 6.35% compared to 176.76 during October 2020 (Base Year 2018). IPI for November 2020 decreased due to the decrease in the activities of electricity, gas, steam and air conditioning supply by 8.33%; constituting 11.95% of the total industry, the activities of manufacturing industry by 6.50%; constituting 82.98% of the total industry, and the activities of water supply, sewerage, waste management and remediation by 1.23%; constituting 2.39% of the total industry, while the activities of mining and quarrying increased by 2.58%; constituting 2.68% of the total industry.
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