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2021-11-11
Sahem Weekly Trading Report (07-11)-11-2021
Al-Quds Index continued to increase in this week as well, trading at its highest level that has recorded for more than 10 years ago; closing at 614.17 points; up by 0.68% than its previous weekly closing level. This came due to the increase in the prices of half the blue-chips with heaviest weights and effects in Al-Quds Index. On the other hand, with the disclosures’ completion of 44 companies out of 47 listed companies required to disclose their data for 9M 2021, the PEX records an average PE ratio of 12.4x and an average P/BV of 1.29x.
Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 29.77% from total disclosed companies’ profits attributable to the parent companies. Whereby, all of the companies that disclosed their data in the sector recorded profits in 9M 2021. According to the disclosed data, the average PE of the sector records 11.4, and average P/BV reached 1.12x; the lowest percentage among all sectors. This came due to the increase in the sector’s profits attributable to the parent companies by 129.41%. While, Bank of Palestine BOP constitutes the lion’s share of 49.77% from the total achieved profits attributable to parent companies in the sector. In the same context, the insurance sector contributed in 3.32% from total disclosed companies’ profits attributable to the parent companies; the lowest contribution among other sectors. Where 29% of the disclosed companies in the sector recorded an increase in their profits attributable to the parent companies. However, the sector’s profits attributable to the parent companies declined by 25.80% in 9M 2021. According to the disclosed data, the insurance sector records an average PE of 21.6x, the highest among all sectors, and an average P/BV of 1.43x.
In the services sector, 8 out of 9 listed companies among the sector disclosed their 9M 2021 financial results; where the services sector contributed by the highest percentage of 34.65% from the total disclosed companies among all sectors in the PEX. Where 88% of the disclosed companies in the sector achieved profits attributable to the parent companies in 9M 2021, whereas, 12% of the disclosed companies in the sector realized net losses in 9M 2021, while, one company didn’t disclose its financial results for 9M 2021 within the granted period by the PEX. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 78.00% from the total sector’s profits attributable to the parent companies, in which increased in total by 56.02% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 12.5x, and average P/BV of 1.61x; the highest among all sectors.
On the other hand, the investment sector’s profits attributable to the parent companies contributed in 19.22% from the total disclosed companies’ profits attributable to the parent companies. While, the investment sector’s profits attributable to the parent companies increased by 525.83% in 9M 2021. Where the sector records an average PE of 14.0x, and average P/BV of 1.16x. Regarding the Industry sector, it witnessed an increase in the sector’s profits attributable to the parent companies by 58.36% in 9M 2021; constituting 13.03% from total sector’s profits attributable to the parent companies, whereby, Birzeit Pharmaceuticals Company BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 64.53% from total sector’s profits attributable to the parent companies. However, one company couldn’t disclose its data within the granted legal period. Accordingly, the Industry sector records an average PE of 9.6x, the lowest among all sectors, and average P/BV of 1.17x.
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