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Al-Quds Index declines in the first week of October

2022-10-06

Sahem Weekly Trading Report (02-06)-10-2022

Al-Quds Index recorded losses in the first week of October, closing at 625.40 points, and down by 0.49% than the previous week. While trading was active in this week, supported by executing several medium-volume transactions on the blue-chips with heaviest weights and effects on the Index and others. Whereby, several transactions were executed on the stocks of the largest investment company in Palestine Stock Exchange PEX- Palestine Development and Investment Company PADICO-, the stocks of the largest bank in the PEX by market capitalization- Bank of Palestine BOP-, the leading stock of the Arab Palestinian Investment Company APIC, the stocks of Arkaan Real Estate Company ARKAAN, the stocks of Jerusalem Pharmaceutical Company JPH and the stocks of Al-Quds Bank QUDS. Where, with the start of this month, the leading companies entered the legal period granted to disclose their financial data for the first nine months of 2022. Whereby, the PEX grants the listed companies 45 days from the start of October, to disclose their financial and operational data for Q3 2022.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 113.23 during August 2022, compared to 105.04 during July 2022, which indicates a sharp increase of 7.80% compared to July 2022 (Base Year 2019). IPI for August 2022 sharply increased due to the sharp increase in the activities of water supply, sewerage, waste management and remediation by 24.65% which had a share of 1.84% of the total industry, the activities of mining and quarrying by 15.79% which had a share of 2.89% of the total industry, the activities of manufacturing industry by 7.56% which had a share of 87.89% of the total industry, and the activities of electricity, gas, steam and air conditioning supply increased by 4.65% which had a share of 7.38% of the total industry.

In the week, the leading companies accelerated to determine dates to hold their board of directors meeting for discuss the financial data for Q3 2022 in order to disclose them. Whereby, the board of directors of Beit Jala Pharmaceutical Company BJP will be holding a meeting on 05/10/2022. Also, the board of directors of Palestine Insurance Company PICO will be holding a meeting on 20/10/2022.