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Al-Quds Index records gains for the second week in row

2021-01-14

 Sahem Weekly Trading Report (10-14)-01-2021

In the second week of the year 2021, Al-Quds Index continued its increasing as well, to end this week with gains of 0.13%  than its previous weekly closing level after trading in a relatively narrow range. On the other hand, the price movements witnessed slowness, while, normal liquidity scarceness dominates the trading in the market- if we exclude the institutional transactions-. Whereby, this week witnessed a momentum in executing transactions on the stocks of the listed company. In this context, a transaction of 0.40 million shares was executed on the stocks of the largest company in Palestine Stock Exchange PEX in terms of market capitalization- Palestine Telecommunications PALTEL-, also, a transaction of 0.50 million shares on the stocks of the largest bank in the PEX in terms of market capitalization- Bank of Palestine BOP- was executed. In addition, a transaction of 0.15 million shares on the leading stock of the Arab Palestinian Investment Company APIC was executed during the week. On another hand and with this routine period, the listed companies’ boards of directors sequence to announce holding their meetings to discuss 2020’s financial results in order to disclose their annual profits, however, the preliminary annual financial data disclosure anticipation firstly remains on the investors agendas, in expectation to the yields that may be achieved in form of dividends to compensate any capital losses.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during 2020 recorded a decrease by 0.73% compared with 2019 (by 0.90% in the West Bank, by 0.52% in Gaza Strip, while it increased by 0.74% in Jerusalem).  The changes in Palestinian CPI for 2020 were traced back to the decline in prices of the following expenditure major and sub groups compared with previous year: liquid fuel for cars “Petrol” by 10.19%, fresh chicken by 7.74%, fresh vegetables by 7.15%, vegetable oils by 6.37%, liquid fuel for cars “Diesel” by 3.76%, clothing and footwear by 3.33%, fresh fruit by 1.21% and gas by 1.06%, versus an increase in the prices of dried vegetables by 10.66%, eggs by 4.87%, short grain rice by 3.18%. It is worth mentioning that the spread of Covid-19 virus in Palestine and the procedures taken to reduce its spread has affected the transportation sector, resulting in a 1.92% increase in the transportation service by land through cars and busses in 2020 compared 2019.

On another hand, the listed companies accelerate to hold their board of directors BOD’s meetings, to discuss the operating results of 2020 and any developments in the New Year or other things. Whereby, the BOD of Palestine Insurance Company PICO will be holding a meeting on 18/01/2021. On the other hand, the BOD of Al-Quds Bank QUDS held a meeting on 13/01/2021, whereby raised a proposal to approve raising the stake of Palestine Pension Agency in the bank’s capital by 5%, from 8.9% at the end of 2019.


 

2021-10-21
Al-Quds Index in a narrow range amid an increase in 9M financial data disclosures anticipation

2021-10-17
PHARMACARE recommends distributing 10% cash dividends for the year 2020

2021-10-14
A transaction on the stocks of TRSUT raises the trading value in the PEX

2021-10-07
Al-Quds Index rebounds upwards in the first week of October

 

 

 
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