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Al-Quds Index continues to increase in the second week of 2022


 Sahem Weekly Trading Report (09-13)-01-2022

In the second week of 2022, Al-Quds Index recorded an increase by 0.29% than the previous week, to close at 616.82 points after trading in a relatively narrow range. Whereby, Palestine Stock Exchange PEX witnessed active price movements for the         blue-chips in specific and other stocks, while, the week lacked executing any institutional transactions that may increase the trading value in the PEX from time to time. However with this routine period, the listed companies accelerate to announce holding their board of directors meetings to discuss and approve 2021’s financial results in order to disclose their annual profits. Whereby, the anticipation for the annual financial data disclosures remains on top of the investors agendas, in expectation to the yields that may be achieved in form of dividends to compensate any capital losses.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during 2021 recorded an increase by 1.24% compared with 2020 (1.95% in Jerusalem, 1.41% in the West Bank, and 0.27% in Gaza Strip).  Whereby, the increase in the CPI for 2021 was tracked back to changes in the prices of the following expenditure major and sub groups compared with previous year: transportation by 4.39%; which constitute 14.26% from total prices of major and sub groups, where the prices of liquid fuel for car "Petrol" increased by 12.05% and the prices of liquid fuel for car "Diesel" increased by 8.62%. Also, the prices of housing, water, electricity, gas and other fuels increased by 3.65%; which constitute 9.06% from total prices of major and sub groups, where the prices of actual housing rentals increased by 10.51% and the prices of gas increased by 5.92%. In addition, the prices of food and non-alcoholic beverages increased by 0.86%; which constitute 28.15% from total prices of major and sub groups, where the prices of the following increased: vegetable oils by 8.68%, fresh chicken by 6.72%, other sugar and sugar substitutes by 3.95%, fresh meat by 3.25%, versus, a decline in the prices of: potatoes and other tubers by 9.60%, dried vegetables by 8.19%, eggs by 5.39%, fresh vegetables by 2.02% and rice by 1.73%.

On another hand, the listed companies accelerate to hold their board of directors BOD’s meetings, to discuss and approve the operating results for 2021 and any management directions for the new year. Whereby, the BOD of Palestine Investment Bank PIBC will be holding a meeting on 20/01/2022. Also, the BOD of the Union Construction and Investment Company UCI will be holding a meeting on 21/01/2022. Moreover, the BOD of Birzeit Pharmaceuticals Company BPC will be holding a meeting on 23/01/2022. Also, both the BOD of the National Insurance Company NIC and Al-Wataniah Towers Company ABRAJ will be holding meetings on 14/02/2022.




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