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2022-09-08
Sahem Weekly Trading Report (04-08)-09-2022
Palestine Stock Exchange PEX ended this week in the green zone, whereby, Al-Quds Index closed with an increase of 1.54% than the previous week, recording 644.85 points after trading in a relatively wide range. While trading was active on the blue-chips and other stocks in the banking and financial services sector, to record increases in the prices of the most than the previous week. It is worth mentioning that several transactions were executed, in this week, on the stocks of Bank of Palestine BOP and the National Bank TNB, while, the stock of Palestine Development and Investment Company PADICO witnessed liquidity momentum and trading activity. On another hand, the PEX approaches a routinely anticipation period with the end of September; represented by disclosing the financial and operating results for the first nine months of the current year 2022, to give in turn the green light to vary the roles in terms of supporting and leading Al-Quds Index based on the disclosed data.
Regarding the price dynamics, the current price of Palestine Telecommunications Company PALTEL- the largest company by market capitalization and the highest weighted stock in Al-Quds Index- records premium to 52-weeks low of 10.00% and discount to 52-weeks high of 17.24%. Moreover, the stock of the largest investment company by market capitalization - Palestine Development and Investment Company PADICO- records, based on the current price, premium to 52-weeks low of 37.96%, and the highest price since 52-weeks. However, regarding the stock of the largest bank by market capitalization- Bank of Palestine BOP-, it records premium to 52-weeks low based on the current price of 12.90%, and discount to 52-weeks high of 5.41%. On the other hand, the leading stock of the Arab Palestinian Investment Company APIC, reports, based on the current price, premium to 52-weeks low of 23.87%% and discount to 52-weeks high of 1.54%.
Based on the economic indicators and according to Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 105.04 during July 2022 which indicates a sharp decrease of 11.41% compared to June 2022 (Base Year 2019).IPI for July 2022 sharply decreased due to the sharp decrease in the activities of manufacturing industry by 13.09% which had a share of 87.89% of the total industry, the activities of water supply, sewerage, waste management and remediation by 12.13% which had a share of 1.84% of the total industry, and the activities of mining and quarrying decreased by 9.72% which had a share of 2.89% of the total industry. While, the activities of electricity, gas, steam and air conditioning supply increased by 8.61% which had a share of 7.38% of the total industry.
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