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Al-Quds Index starts the year 2022 with an increase

2022-01-06

 Sahem Weekly Trading Report (02-06)-01-2022

Al-Quds Index ended the first week of the year 2022 at the level of 615.01 points; up by 1.08% than its previous weekly closing level which coincides with the end of the year 2021. Whereby, during this week, the stock of the largest investment company in Palestine Stock Exchange PEX by market capitalization – Palestine Development and Investment Company PADICO- witnessed trading activity apart from any other listed stocks. Regarding the other stocks, one listed stock’s performance didn’t exceed any other within a receding in the substantial news on the companies that may increase the intrinsic value of their stocks. The lack of trading may be attributable to anticipating the financial data for the year 2021 that are supposed to be disclosed through a legal period granted by the PEX that will end in mid-February. However, with the entry of the year 2022, the routine cycle starts in the stock market, which with its sequences stages; the price impact varies with the variation in traders’ behaviors. The fiscal year ends and the annual financial disclosures start, then the dividends’ distribution decisions’ announcements follow, then the entitlements come next, and finally measuring the return on investment. This comes with efficient price reflections and well-expected routine cycles if other factors remain constant.

Regarding the significant news that may affect the price of Palestine Electric Company PEC, Qatar's Gaza Reconstruction Committee (GRC) has signed an agreement with Gaza Electricity Generating Company and the Palestinian Energy Authority to operate the only power plant in Gaza Strip using natural gas instead of industrial fuel.  GRC will fund about $60 million for the construction of the gas pipeline from an Israel-based supplier company to the Gaza border, while, the European Union will contribute about $22.64 million to construct the gas pipeline from the coastal enclave borders to the power plant. The Gaza Electricity Generating Company and Palestinian Energy Authority will convert the plant so it can operate on natural gas as an alternative to industrial fuel. The project will increase the production capacity of the power plant to at least 500 megawatts in order to better meet the needs of residents of the Gaza Strip.

Within its yearly modification that coincides with the end of the year 2021, Palestine Stock Exchange PEX reviewed the composition of Al-Quds Index for the year 2022 and made some changes to the companies included in the old composition of the year 2021, whereby, the number of companies is still the same as the year 2021; 15 companies out of 47 listed companies that represent around 77.11% of the total PEX market capitalization. While the new composition consists of 3 new companies instead of 3 old companies: the Arab Islamic Bank AIB instead of Palestine Investment Bank PIBC in the banking and financial services sector, and Jerusalem Cigarette Company JCC instead of Birzeit Pharmaceuticals Company BPC in the industry sector, and finally the National Insurance Company NIC instead of Ahliea Insurance Group AIG in the insurance sector. The new composition consists of, from the banking and financial services sector: Bank of Palestine, the National Bank, Palestine Islamic Bank, The Arab Islamic Bank and Al-Quds Bank. From the insurance sector: The National Insurance Company. From the investment sector: Palestine Development & Investment “ PADICO HOLDING”, Arab Palestinian Investment “APIC”, Palestine Real Estate Investment and Union Construction & Investment. From the industry sector: Jerusalem Pharmaceuticals and Jerusalem Cigarette. And from the services sector: Palestine Telecommunications, Palestine Electric and Wataniya Palestine Mobile Telecommunications.


 

2022-05-19
The blue-chips above their equivalent prices and a momentum in the significant news

2022-05-17
AQARIYA posts net income of $0.16 million in Q1 2022

2022-05-17
JCC posts net income of JD0.71 million in Q1 2022

2022-05-16
PIBC approves distributing 5% cash dividends for the year 2021

2022-05-16
JREI posts net income of $0.001 million in Q1 2022

2022-05-16
NCI posts net income of $0.28 million in Q1 2022

2022-05-16
BOP posts net income of $17.59 million in Q1 2022

2022-05-16
OOREDOO posts net income of $3.91 million in Q1 2022

2022-05-16
QUDS posts net income of $5.01 million in Q1 2022

2022-05-16
AHC realizes net loss of JD0.30 million in Q1 2022

2022-05-16
TPIC posts net income of $0.54 million in Q1 2022

2022-05-16
TRUST posts net income of $1.00 million in Q1 2022

2022-05-16
PIBC posts net income of $1.75 million in Q1 2022

2022-05-16
PEC posts net income of $1.76 million in Q1 2022

2022-05-16
AIB posts net income of $3.61 million in Q1 2022

2022-05-16
TNB approves distributing 8.13% stocks dividends for the year 2021

2022-05-15
JPH posts net income of $1.29 million in Q1 2022

2022-05-15
WASSEL posts net income of $0.23 million in Q1 2022

2022-05-15
NSC posts net income of JD0.47 million in Q1 2022

2022-05-15
ISBK posts net income of $3.36 million in Q1 2022

2022-05-15
BPC posts net income of $3.07 million in Q1 2022

2022-05-15
TIC posts net income of $0.62 million in Q1 2022

2022-05-15
ARAB reports net income of JD0.02 million in Q1 2022

2022-05-15
ELECTRODE realizes net loss of JD0.02 million in Q1 2022

2022-05-15
BJP posts net income of JD0.38 million in Q1 2022

2022-05-15
UCI posts net income of $0.12 million in Q1 2022

2022-05-15
NIC posts net income of $0.73 million in Q1 2022

2022-05-15
GUI posts net income of $0.76 million in Q1 2022

2022-05-15
PID realizes net loss of JD0.32 million in Q1 2022

2022-05-15
LADAEN posts net income of JD0.02 million in Q1 2022

2022-05-15
RSR posts net income of JD0.02 million in Q1 2022

2022-05-15
PIIC posts net income of JD2.29 million in Q1 2022

2022-05-15
TNB posts net income of $2.77 million in Q1 2022

2022-05-15
AZIZA records net income of JD1.38 million in Q1 2022

2022-05-15
VOIC posts net income for JD1.92 million in Q1 2022

2022-05-15
ABRAJ posts net income of $0.08 million in Q1 2022

2022-05-15
PRICO posts net income of JD0.13 million in Q1 2022

2022-05-15
NAPCO posts net income of JD0.10 million in Q1 2022

2022-05-15
APIC reports net income of $11.14 million in Q1 2022

2022-05-12
Al-Quds Index in the green zone and a momentum in the significant news

2022-05-11
PADICO posts net income of $7.95 million in Q1 2022

2022-05-11
PALTEL posts net income of JD17.87 million in Q1 2022

2022-05-10
PICO approves distributing 23.50% cash dividends for 2021

2022-05-09
APIC approves distributing 6.67% stock dividends and 10.48% cash dividends for 2021

2022-05-09
APC records net income of JD0.26 million in Q1 2022

2022-05-09
SANAD will discuss decreasing its capital and then increasing it again after amortizing the accumulated losses

2022-05-05
PIBC proposes distributing 5% cash dividends for 2021

 

 

 
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