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Al-Quds Index continues to decline amid the start of new routine anticipation

2022-09-29

 Sahem Weekly Trading Report (25-29)-09-2022

Al-Quds Index continued to decline in this week as well, realizing loss of 1.37% than the previous weekly closing level, to record 628.45 points. This came due to a decline in the prices of most blue-chips with heaviest weights in the Index.  Whereby, with the end of the third quarter of the year 2022, Palestine Stock Exchange entered the legal period granted to the listed companies to disclose their 9M 2022 financial data, to raise the anticipation once again for the PEX and investors particularly towards the accumulated yield in their minds. Undoubtedly, the expectations for companies’ financial data vary based on what had been announced in the first half of 2022 and what was laid out for possible impacts in the third quarter. Accordingly, the listed companies’ stocks performance varied this week following the fundamental factors and the ease of the liquidity movement.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, primary estimates for GDP at constant prices showed an increase of 1% in GDP in Palestine during the 2nd quarter 2022 compared to the 1st quarter 2022, mainly in agriculture, forestry and fishing by 7%, mining, manufacturing, electricity and water by 5%, financial and insurance activities by 3%, public administration and defense, services by 2% for each.  Meanwhile, there was a decrease in wholesale and retail trade, repair of motor vehicles and motorcycles by 4%, and construction by 3%. On the other hand, it showed an increase of 3% in Palestine during the 2nd quarter 2022 compared to the 2nd quarter 2021 at constant prices, which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 2nd quarter 2022 at constant prices was $3,175 million for the West Bank and $684 million for Gaza Strip.

GDP per Capita for Palestine at constant prices was $765 during the 2nd quarter 2022, it showed an increase of 1% compared to the parallel quarter 2021. As for the West Bank it was $1,101 at constant prices during the 2nd quarter 2022, it showed a decrease by 0.1% during the 2nd quarter 2022 compared to the parallel quarter 2021, while for Gaza Strip it was $317 during the 2nd quarter 2022, and it showed an increase by 6% during the 2nd quarter 2022 compared to the parallel quarter 2021.


 

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