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Al-Quds Index declines in mid-September


 Sahem Weekly Trading Report (11-15)-09-2022

With mid-September, Al-Quds Index traded in a relatively narrow range, closing with a decline by 0.58% than the previous week, and recording 641.12 points. This mainly resulted from a decline in the prices of most blue-chips with the heaviest weights and effects on Al-Quds Index.  Moreover, a transaction of 2.00 million shares was executed on the stocks of Al-Quds Bank QUDS in this week, to raise the trading value in Palestine Stock Exchange PEX to the relatively high level. It is worth mentioning that the PEX has sole characteristics that are noticeably different from the other regional Arabic markets. Where the current prices are considered investment opportunities compared to the market indicators that result from the semi-annual financial data and the average yield from one side, and the PEX isolation of itself from the outside effects that influence directly the other financial markets’ performance from another hand.

On another hand, the listed companies accelerate to determine dates to hold their board of directors meetings in order to discuss and approve the financial data for the end of August 2022. In this context, the board of directors BOD of Palestine Poultry Company AZIZA held a meeting on 10/09/2022. In the same context, the BOD of Bank of Palestine BOP will be holding a meeting on 18/09/2022. Also, the BOD of the Vegetable Oil Industries Company VOIC will be holding a meeting on 21/09/2022. Furthermore, the BOD of the National Carton Industry Company NCI will be holding a meeting on 01/10/2022.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during August 2022 recorded a decrease by 0.48% compared with July 2022 (1.06% in Jerusalem, 0.40% in Gaza Strip, and by 0.39% in the West Bank). The decline came due to the decrease in the prices of the following expenditure sub groups, compared with previous month: liquid fuel for car “petrol” by 13.83%, liquid fuel for car “diesel” by 5.61%, fresh chicken by 5.90%, flour of cereals “white flour” by 1.44%, fresh meat by 1.14% versus an increase in the prices of fresh vegetable by 9.21%, dried vegetable by 7.78%, potatoes by 3.68% and eggs by 2.12%.  On the other hand, the Palestinian CPI during August 2022 increased by 3.16% compared with August 2021 (4.47% in Jerusalem, 3.57% in the West Bank, and by 1.04% in Gaza Strip).




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