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Al-Quds Index in the green zone amid medium-volume transactions


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

The general situation in Palestine Stock Exchange PEX is still associated to the local political and economic development anticipations, whereby no substantial issues arose this week that would support a particular price trend.  With the approaching end of the year 2021, Al-Quds Index ended its trading at the level of 603.68 points; up by 0.95% than its previous weekly closing level, after breaking-through the 600 points level once again. In another context, the PEX witnessed medium-volume liquidity levels that lacked institutional transactions that may raise the trading value in the PEX from time to time. While some of the leading stocks witnessed slight declining in their prices versus a stabilization in the prices of other leading stocks during the week at the same price levels of the previous week, while the heaviest weighted stock in the PEX and largest company by market capitalization witnessed significant increase than the previous week. On another hand, the anticipation increases for the coming days that coincide with the last days of the year, to crown the results of the whole year. Historically and routinely, the last days of the year is characterized with movements regarding the liquidity -on one hand- through moving between the investment positions and executing transactions, and the price trend movements on another hand, in order to affect the investment evaluation.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during November 2021 recorded a decrease by 0.27% compared with October 2021 (0.61% in Gaza Strip, 0.19% in the West Bank, and 0.11% in Jerusalem). This decrease in the Palestinian CPI for November 2021 was traced back to the decline in the prices of the following expenditure sub groups compared with previous month: fresh vegetables by -11.88%, fresh fruit by -8.17%, dried vegetables by -6.98%, eggs by 4.85%, potatoes and other tubers by -1.77%, fish (live fresh, chilled, or frozen) by -1.02% , fresh meat by -0.65%, versus, an increase in the prices of flour of cereals (flour) by 3.52%, vegetable oil by 3.26%, fresh chicken by 2.61%,  sugar (confectionery and desserts) by 2.55% and rice by 1.22%. On the other hand, the Palestinian CPI during November 2021 increased by 1.38% compared with November 2020 (2.07% in Jerusalem, 1.65% in the West Bank, and 0.11% in Gaza Strip).

According to a report by Palestine Monetary Authority PMA, 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%. It is good to note that inflation in Palestine is moderate to low, and often below global rates, as well as significantly lower than in the MENA region. Domestic inflation trends depend mainly on external factors and, to a lesser extent, on domestic ones, where the domestic economy relies heavily on imports, mainly from Israel. The value and magnitude of inflation in the West Bank usually varies from that of Gaza Strip, due to the different price determinants. Movement in consumer prices in the West Bank are more susceptible to changes in global commodity prices, along with regional and global economic and political developments, while prices in Gaza are subject mainly to the long-lasting closure and blockade imposed on the Strip. During the coronavirus crisis, Palestine has mostly recorded deflation, however, it has returned to positive values in recent months.


VOIC records net income of JD6.61 million in 9M 2023



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