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Medium liquidity with the start of 9M 2021 financial data disclosures’ anticipation

2021-09-16

 Sahem Weekly Trading Report (12-16)-09-2021

In this week, the performance of Palestine Stock Exchange PEX was balanced with the return of the liquidity to the medium levels which have been witnessed for a period of time. Whereby, Al-Quds Index traded in a relatively wide range, declining from the 590 points level, and closing at the level of 584.89 points; down by 1.42% than its previous weekly closing level. Regarding the blue-chips, they witnessed declines in their prices than the previous week. On another hand, the PEX approaches a routinely anticipation period with the end of September 2021; represented by disclosing the financial and operating results for the first nine months of the current year 2021, to give in turn the green light to vary the roles in terms of supporting and leading Al-Quds Index based on the disclosed data.

Regarding the price dynamics, the current price of Palestine Telecommunications Company PALTEL- the largest company by market capitalization and the highest weighted stock in Al-Quds Index- records premium to 52-weeks low of 55.59%, and discount to 52-weeks high of 3.74%. Moreover, the stock of the largest investment company by market capitalization - Palestine Development and Investment Company PADICO- records, based on the current price, premium to 52-weeks low of 71.43%, and discount to 52-weeks high of 1.64%. However, regarding the stock of the largest bank by market capitalization- Bank of Palestine BOP-, it records premium to 52-weeks low based on the current price of 34.90%, and discount to 52-weeks high of 4.29%. On the other hand, the leading stock of the Arab Palestinian Investment Company APIC, reports, based on the current price, premium to 52-weeks low of 31.67% and discount to 52-weeks high of 3.95%.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during August 2021 recorded an increase by 0.29% compared with July 2021 (by 0.59% in Gaza Strip, by 0.23% in the West Bank, and by 0.15% in Jerusalem). The increase in the Palestinian CPI for August 2021 was traced back to the increase in prices of the following expenditure sub groups compared with previous month: fresh vegetables by 16.83%, potatoes and other tubers by 9.20%, liquid fuel for car "diesel" by 3.85%, eggs by 3.65%, dried vegetables by 2.47%, vegetable oil by 2.25%, liquid fuel for car "petrol" by 1.49%, versus a decline in the prices of fresh chicken by 4.37%, fresh fruit by 1.14% and gas by 0.53%. Furthermore, the Palestinian CPI during August 2021 increased by 2.55% compared with August 2020 (by 2.64% in Gaza Strip, by 2.57% in Jerusalem, and by 2.52% in the West Bank).


 

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