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2021-10-21
Sahem Weekly Trading Report (17-21)-10-2021
In this week with four trading sessions, Al-Quds Index traded in a relatively narrow range amid medium-volume trading that lacked any high-volume transactions that may raise the trading value in Palestine Stock Exchange PEX from time to time. Regarding the leading stocks- with heaviest weights and effects in the Index- they almost lacked the trading momentum, closing with slight change or without any change than the previous week. While the anticipation for the 9M 2021 financial data disclosures dominated the PEX in this period. It is good to note that the PEX is characterized with a unique nature of anticipation stages’ succession with their varying reasons, whereby, investors are not able to complete building their investment portfolios until new anticipation features appear in the horizon.
Regarding the significant news of this week, the board of directors of Dar Al-Shifa’a for the Manufacturing of Pharmaceuticals PHARMACARE recommended to the general assembly, which will be holding a meeting on 28/10/2021, distributing 10% cash dividends for the year 2020, to record dividends yield of 2.99% based on the current market price. This comes after the end of the dividends distribution period for the year 2020. Whereby, the number of companies that distributed dividends for the year 2020 reached at the end of September 23 companies, (49% of the total listed 47 companies). 12 companies distributed cash dividends, 3 companies distributed stocks dividends, while the other 8 companies distributed a combination of both cash and stocks dividends. In the same context, total cash dividends distributed for the year 2020 reached $105,123,627 compared to $140,443,375 in 2019; down by 25%. While total stocks dividends distributed reached $28,618,821 in 2020 compared to $28,618,821 in 2019; up by 46%. With the end of September 2021, the listed companies distributed $134 million worth of dividends in the fiscal year 2020 (both cash and stocks); down by 16.25% than the distributed dividends in the year 2019, which reached $160 million. This followed a 22% decline the companies’ profits over the same period. In aggregate, the PEX records 4.73% ROI for the year 2020.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Wholesale Price Index WPI in Palestine with its base year (2007) reached 129.35 in the third quarter 2021, which recorded a sharp increase of 4.21% compared with 124.13 in the second quarter 2021. WPI for the third quarter of 2021 increased due to the increase in the activities of agriculture by 11.83%, the activities of fishing by 6.90%, and the activities of manufacturing by 0.84%. While the activities of mining and quarrying decreased by 0.36% in the third quarter of 2021 compared to the second quarter of 2021.
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