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2021-11-18
Sahem Weekly Trading Report (14-18)-11-2021
In this week with four trading sessions, the motionlessness status imposed itself on Palestine Stock Exchange PEX amid horizontal movement of Al-Quds Index that is skewed to slightly decline through transactions following the lack of drivers in general. Moreover, the liquidity was trapped around the prevailing trading prices amid rising anticipation for the remaining period of the year 2021. Regarding the blue-chips, some witnessed price increases and others witnessed slight declines, while, some stabalized without any price change than the prevous week. 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.
On another hand, the listed companies accelerate to determine dates to hold their board of directors meetings in order to discuss and approve the estimated budget for the year 2022. In this context, the board of directors of Dar Al-shifa’ for the Manufacturing of Pharmaceuticals PHARMACARE will be holding a meeting on 23/11/2021. Also, Global United Insurance Company GUI announced determining 02/12/2021 a date to hold its board of directors meeting.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during October 2021 recorded a slight increase by 0.08% compared with September 2021 (by 0.18% in Gaza Strip, and by 0.13% in the West Bank, while it decreased by 0.29% in Jerusalem). The increase in the CPI came due to the increase in the prices of the following expenditure sub groups compared to the previous month: fresh chicken by 6.59%, liquid fuel for car “Petrol” by 1.88%, liquid fuel for car “diesel” by 1.78%, dried vegetables by 1.72%, gas by 1.56%, flour of cereals (flour) by 1.50%, and vegetable oil by 1.45%. Versus a decline in the prices of: fresh vegetables by 9.95%, eggs by 3.86%, fresh fruit by 3.58%, fresh meat by 0.84% and potatoes and other tubers by 0.77%. The Palestinian CPI during October 2021 increased by 1.28% compared with October 2020 (by 1.95% in Jerusalem, by 1.46% in the West Bank, and by 0.31% in Gaza Strip).
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