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2021-10-14
Sahem Weekly Trading Report (10-14)-10-2021
In a week with heavy normal transactions and slow price movements, Al-Quds Index increased slightly by 0.02% than the previous week, to close at 582.85 points after trading in a relatively narrow range. While the PEX witnessed executing a transaction of 3.32 million shares on the stocks of TRUST, to raise the trading value to a relatively high level. On the other hand, the anticipation in the financial disclosures’ month dominated the investment appetite and investors’ behavior. Where, stalling in the place outweighed pursuing any price trend. Despite the similar general trend in the blue-chips’ stocks, but the momentum factors vary among them following the varied growth factors that has been drawn by each alone, and which was extracted by the investor since the beginning of the year, in parallel to the quarterly financial data disclosures. The 9M financial data disclosures are one of the important things that boost the growth expected factors in the market.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during September 2021 recorded an increase by 0.43% compared with August 2021 (by 0.53% in the West Bank, by 0.47% in Jerusalem, and by 0.12% in Gaza Strip). The increase in Palestinian CPI for September 2021 was traced back to increase in prices of the following expenditure sub groups compared with previous month: eggs by 17.61%, fresh vegetables by 9.48%, fresh chicken by 4.04%, dried vegetables by 2.70% versus a decline in the prices of potatoes and other tubers by 2.39%, fresh meat by 1.10%, and fresh fruit by 0.96%. The Palestinian CPI during September 2021 increased by 1.72% compared with September 2020 (by 2.60% in Jerusalem, by 1.72% in the West Bank, and by 1.18% in Gaza Strip).
Regarding the economic indicators and according to Palestine Monetary Authority PMA, the second quarter of 2021 witnessed a significant rise in inflation rate in Palestine to about 1.9% on the annual basis, due to several reasons: the increase in world commodity prices, the appreciation of domestic currencies of some trading partners, in particular China, and the accelerated inflation among all trading partners, particularly Israel. Preliminary projections also indicate a high level of consumption and domestic demand in the context of relative economic recovery, along with increased numbers of workers. Domestic prices for some groups have increased significantly, particularly those directly dependent on fuel derivatives, such as transportation. As for domestic prices in the coming period, and according to PMA’s forecasts, Palestine will register average inflation of 1.4% over the year 2021. In analyzing the potential risks for inflation, increased domestic demand and global prices higher than expected will cause inflation to rise from 1.4% to 1.9% in 2021, while their reduction will push expected inflation to decline to about 1.1%.
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